Category: Industry
Information Bank for economic diplomacy soon, says Harsha De Silva
Dec 16, 2015 (LBO) – Sri Lanka plans to launch a ‘Knowledge Platform,’ an online internet information bank to promote economic diplomacy, Deputy Minister of Foreign Affairs, Harsha de Silva said.The platform would be launched by the end of the first quarter of 2016. De Silva revealed this during the second meeting of the Inter […]
Customs strike delays flights at Bandaranaike International Airport
Dec 16, 2015 (LBO) – A strike action by the Customs officials at the Bandaranaike International Airport has led to a delay in several flights, All Ceylon Customs Services Union told LBO.“Three is an issue between the Customs officials and the Airport security. Security officials are now acting in a way that damages our dignity,” […]
People’s Insurance IPO oversubscribed
Dec 16, 2015 (LBO) – An initial public offering of 50 million ordinary shares by People’s Insurance Limited, a subsidiary of People’s Leasing and Finance, to raise 750 million rupees was oversubscribed within hours on the opening day, a statement said.SSP Corporate Services, registrars to the issue, said in a stock exchange filing that the […]
‘t cause environmental disruption, says EIA
Dec 15, 2015 (LBO) – The proposed Colombo Port City has a minimal environmental impact on the reclamation site and the coastal zone around the area, a supplementary environmental impact assessment, now available for public consultation, states. Because of the impact of sand dredging north of the port city site, an income support program will […]
Special economic zones, a driving force for increased trade in Asia: ADB
Dec 14, 2015 (LBO) – Special economic zones (SEZs) can be a driving force for increased trade, investment, and economic reform in Asia as it experiences a slowdown in trade, provided the right business environments and policies are put in place, a new Asian Development Bank (ADB) report said. “The expansion in the number of […]
Rule Changes for Sri Lanka Insurers Promote Transparency: Fitch
Dec 14, 2015 (LBO) – Fitch Ratings sees the outlook on Sri Lanka’s insurance sector as stable even though the split of composite insurers into life and non-life companies, which became mandatory effective February 2015, may create industry uncertainty.This is based on the view that most insurers will maintain stable financial fundamentals in 2016, supported […]
‘s first dengue vaccine approved
Dec 14, 2015 (LBO) – A vaccine against dengue fever, the mosquito borne virus fever, has won clearance in Mexico. The vaccine is the first of its kind and can prevent all four types of the virus, which has appeared in Portugal, France, Florida and Japan recently and increased the risk of “explosive outbreaks,” a […]
Sri Lanka computer literacy at 27-pct in 1H 2015
Dec 12, 2015 (LBO) – Sri Lanka’s computer literacy for the first half of 2015 is 26.8 percent compared to 25.1 percent reported in 2014, the Department of Census and Statistics said. The computer literacy of those who are in the age group of 5 to 69 years and characteristics of households have been released […]
Sri Lanka’s stalled Colombo port city back on track
Dec 11, 2015 (LBO) – Sri Lanka’s is all set for the Chinese-built port city project to commence work soon, a media report said.“We have given all the necessary clearances.Now it is up to the investors to sort out the minor details,” Ravi Karunanayake, Sri Lanka’s finance minister told the South China Post newspaper. “On […]
Leapset Engineering rebrands as CAKE LABS
Dec 11, 2015 (LBO) – Tech outfit Leapset Engineering has rebranded as CAKE LABS after having changed its US name from Leapset to CAKE. “We wanted to better align ourselves with what we stand for,” Shanil Fernando, managing director of CAKE LABS told reporters Thursday. “We strive to make restaurant owners’ lives easier, and CAKE […]
Govt. to call bids from local contractors for Central Expressway stage III
Dec 10, 2015 (LBO) – The cabinet has decided to select local contractors and supervision consultants for the Central Expressway Project stage III which is to be built from Pothuhera to Galagedara.As per Wednesday’s cabinet decision, contractors will be selected through competitive bidding under 05 packages, each of a length between 4.5km – 7.5km. The […]
USD100mn from ADB to strengthen SME sector in Sri Lanka
Dec 10, 2015 (LBO) – The cabinet nod has been given to a 100 million US dollar project to strengthen the Small and Medium Scale Entrepreneur field in Sri Lanka.The project will be funded by the Asian Development Bank.The cabinet has also approved to draft a new bill to facilitate Secured Transactions instead of the […]