Category: Industry
‘s Asiri Hospitals
Dec 10, 2015 (LBO) – TPG Growth, a global private investment firm announced it bought a 28 percent stake in Asiri Hospital Holdings Plc, a unit of Sri Lanka’s Softlogic group in a 7.6 billion rupee deal, a statement said. “We’ve seen significant growth opportunities in healthcare across the globe, and particularly in […]
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Dec 10, 2015 (LBO) – Sri Lanka’s Dialog Axiata PLC launched its cloud services ‘Cumulus’ in Colombo on Wednesday together with several technology companies including Ericsson, EMC, Fortinet, Hewlett Packard, Kingslake, and Microsoft.Cumulus provides services such as virtual IT infrastructure, enterprise storage and data backup, messaging solutions, development platforms, device management, business applications, productivity solutions, […]
Sri Lanka Ports Authority gets new MD
Dec 07, 2015 (LBO) – Sri Lanka Ports Authority (SLPA) has appointed Sarathkumara Premachandra as it’s new managing director, the authority said in a statement. “We can make SLPA a successful and competitive public institution that feeds the national economy of the country in a real big way,” Premachandra was quoted as saying in the statement. […]
” mistakes in logistics, transport: CILT
Dec 07, 2015 (LBO) – Sri Lanka’s budget proposals for 2016 repeat many of the mistakes in previous budgets in the areas of logistics and transportation, the Chartered Institute of Logistics and Transportation says in its budget analysis. The institute said the “over-zealous” attitude to improve the road network is likely to continue with projects […]
Govt planning to list catering unit of SriLankan Airlines
Nov 07, 2015 (LBO) – Sri Lanka’s government is planning to list a minority stake of 30 percent to 49 percent of Sri Lankan Catering, a fully owned subsidiary of state owned SriLankan Airlines, a media report said. This will be through a competitive, open bidding process, the report said quoting sources. The company, the […]
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Dec 04, 2015 (LBO) – Continued GDP growth is driving the stable outlook for Sri Lanka’s banking system, Moody’s Investors Service said. “While seeing some slowdown compared to the growth rates seen in 2013-14, GDP growth in Sri Lanka should remain healthy at 6.7% over 2015-16. And an accommodative monetary policy should support this growth outlook,” says Srikanth Vadlamani, […]
Sri Lanka’s CSE to see infrastructure bonds and REITs soon
Dec 04, 2015 (LBO) – Sri Lanka’s Colombo Stock Exchange (CSE) chief said that new products in the form of infrastructure bonds and REIT’s will be introduced to broaden and add depth to the islands debt markets.“New products need be brought in, Sri Lanka’s debt market needs to be broadened and depth needs to be […]
Rs2.5bn Mulberry residence for young professionals
Dec 04, 2015 (LBO) – Sri Lanka Steradian Capital, a privately owned real estate development and consultancy business, unveiled plans for an apartment complex with an investment of 2.5 billion rupees targeting middle-income young professionals. “The vision for the project comes from our desire to improve the affordable and professional housing sector in Sri Lanka, […]
Sri Lanka tourist arrivals up 20.4 pct in November 2015
Dec 04, 2015 (LBO) – Sri Lanka’s tourist arrivals rose 20.4 percent to 144,147 in the month of November 2015 from a year earlier, driven by China, India, United Kingdom and Germany, data from the state tourism promotion office showed. In the eleven months of 2015 arrivals were up 18.1 percent to 1,592,266. South Asian […]
Sri Lanka customs invites rights holders to fight counterfeits
Dec 04, 2015 (LBO) – Sri Lanka customs invited right holders of products to come forward to help authorities to stop importing counterfeit goods to Sri Lanka.Ashorf Samzudeen, deputy superintendent of Consumer Protection Unit, Sri Lanka Customs said they can fight against counterfeit and piracy only with the corporation of right holders, law enforcement agencies […]
SriLankan cancels more flights between Colombo and Chennai
Dec 03, 2015 (LBO) – SriLankan Airlines has cancelled fourteen more flights between Colombo and Chennai following the extension of the Chennai International Airport closure.Accordingly, the flights UL 128, UL 129, UL 123, UL 124 of December 3, UL 125, UL 126, UL 121, UL 122, UL 127, UL 128, UL 123, UL 124 of […]
Sri Lanka eyes international events to attract tourists: Tourism Chairman
Dec 03, 2015 (LBO) – Sri Lanka Tourism is currently looking at international level entertainment and sports events to attract more tourists to the island nation, Tourism Development Authority said.The 2016 budget granted a 50 percent tax holiday for 5 years for companies incorporated specifically to engage in conferencing and exhibition type of activities.“We are […]