Category: Industry
Sri Lanka to use new tool to assess future electricity demand
Jan 29, 2016 (LBO) – Island’s electricity regulator, the Public Utilities Commission is to adopt an internationally accepted tool to review the forecasted electricity demand in Sri Lanka. The tool named as MAED (Model for Analysis of Energy Demand) has been developed by International Atomic Energy Agency and offered free of charge to the commission. […]
Government to start relocating Manning Market from tomorrow
Jan 29, 2016 (LBO) – Megapolis and Western Development Minister Champika Ranawaka launching the Megapolis plan on Friday said the government will start relocating Manning Market from tomorrow as part of the Megapolis plan. Two weeks ago the Cabinet decided to relocate the Manning Market to Peliyagoda area and utilize the premises for public transportation […]
USD100mn capital infusion into ETI Finance approved
Jan 29, 2016 (LBO) – The Central Bank has approved a proposal to infuse 100 million US dollars into the share capital of ETI Finance, Swarnamahal Financial Services said in a stock exchange filing. This capital injection reportedly from institutional investors from Australia is mandated to be completed by 28 February 2016. ETI Finance is […]
”s Bharti Airtel to merge subsidiaries in Bangladesh
Jan 28, 2016 (LBO) – Axiata Group Bhd, Malaysia’s largest mobile operator by market value, and Bharti Airtel Ltd, India’s largest telecom operator by subscribers, agreed to merge their subsidiaries in Bangladesh, said Axiata on Thursday. The merger of Robi Axiata Limited and Airtel Bangladesh Limited, components of the respective companies, will create an entity […]
Sri Lanka imposes taxes on import of Mackerel fish
Jan 28, 2016 (LBO) – Sri Lanka will impose taxes for importing of tinned mackerel fish under a proposal brought to cabinet by Fisheries Minister Mahinda Amaraweera. In 2013 taxes on imported canned fish was increased to 100 rupees per kilogram to encourage the local production and it was reduced to 50 rupees as a […]
New passenger terminal at Bandaranaike Airport with JICA funding
Jan 28, 2016 (LBO) – The cabinet has decided to enter into a loan agreement with the Japan International Cooperation Agency to obtain funds to build a passenger terminal at Bandaranaike International Airport. The proposed passenger terminal with 180,000 square meters has a higher level access way to the terminal in addition to the provision […]
Safety of life at sea amendment from July, says European Chamber of Commerce
Jan 28, 2016 (LBO) – The International Maritime Organization’s amendment to the Safety of Life at Sea (SOLAS) agreement will come in to effect globally on July 1, 2016, which Sri Lankan authorities and shippers will need to follow, the European Chamber of Commerce in Sri Lanka said in a white paper. This amendment stipulates […]
Janashakthi – National Civilian Bravery Awards
Janashakthi Insurance PLC, a leading Insurance provider in Sri Lanka, announced its partnership with the Foundation of Civilian Bravery Sri Lanka for the ‘Janashakthi – National Civilian Bravery Awards’ to recognize civilians who voluntarily risk their lives while saving, or attempting to save others from peril. The Foundation of Civilian Bravery Sri Lanka believes that […]
Chances of March Fed rate hike drop after FOMC statement
Jan 28, 2016 (LBO) – The chances of a U.S. Fed rate hike in March dimmed after a FOMC policy statement on Wednesday acknowledged global economic risks, as analysts interpreted the carefully worded statement. The FOMC decided to maintain the target range for the federal funds rate at 1/4 to 1/2 percent after a two-day […]
IRCON plans to assist Sri Lanka Railway future projects
Jan 28, 2016 (LBO) – Indian government backed IRCON International has expressed its willingness to assist Sri Lanka’s railway development in line with the priorities of the transport sector, a company official said.Commemorating their 7 year presence in Sri Lanka, Project Director S L Gupta told reporters Wednesday that the timely completion of their projects […]
Emirates to increase daily flights to Colombo
Jan 27, 2016 (LBO) – Emirates, a Middle-Eastern airline, said that they would be adding an additional daily flight to Sri Lanka between Dubai and Colombo. The new flight will be effective from 1 August 2016. Emirates will operate five daily flights between Dubai and Colombo every day except Wednesdays when it will operate four […]
EU Export Helpdesk provides support for exporters
Jan 27, 2016 (LBO) – The various conditions for exports to the European Union can be referred through the online EU Export Helpdesk, a European Commission official said at the recently held EU-SL Trade seminar. The site provides conditions for products exported to the EU such as health, technical standards and marketing standards as well […]