Category: Industry
Sri Lanka stocks close down 0.20-pct
Dec 01, 2015 (LBO) – Sri Lankan stocks closed down at 0.20 percent for the fifth straight day on Tuesday on sustained selling pressure triggered by weak domestic cues, brokers said. The Colombo benchmark All Share Price Index closed down 13.96 points at 6,895.19 down 0.20 percent. S&P SL20 closed 6.35 points lower at 3,651.69 down 0.17 […]
Embark’s new Christmas concept – product range a call to ‘Love the Fashion, Feel the Passion’
This season, Embark, the unique fashion label with a cause, has promised ‘a shopping experience from the heart’ with a refreshingly sincere Christmas campaign involving its people, and a product range that reflects the compassion and commitment that the programme is all about.Faces from Embark’s very own team, along with passionate individuals who are committed to make a […]
Oman Air celebrates six years of successful operations in Sri Lanka
The national airline of the Sultanate of Oman, Oman Air recently celebrated six years of successful operations in Sri Lanka. Over the years, Oman Air has experienced momentous growth in Sri Lanka and has gained a reputation for offering affordable flights, a luxurious travel experience and world-class standards of service. Commenting on the occasion, Gihan […]
Sri Lanka’s clothing industry looks to improve competitiveness: OBG
Dec 01, 2015 (LBO) – With an eye on the target of reaching 8.5bn dollars worth of clothing exports per annum by 2020, Sri Lanka’s apparel manufacturers are backing a national bid to regain preferential trade concessions from the EU, a report by the Oxford Business Group said. Sri Lanka has carved a niche as […]
Railway unions calls President to stop importing locomotives from India
Nov 30, 2015 (LBO) – Sri Lanka’s Railway Trade Union Alliance has urged the President and Prime Minister to stop importing what they called substandard locomotives from India. The alliance said that two separate cabinet papers are to be submitted to the cabinet seeking approval to import locomotives, power sets, and railway carriages as well […]
President arrives for historic climate change conference
Nov 30, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena arrived in France on Sunday to attend a world leaders’ conference on climate change, COP 21, a potentially historic meeting that could set limits on greenhouse gas emissions.More than 25,000 official delegates from 190 countries will meet on Monday for the largest conference ever organized […]
Sri Lanka’s Megapolis Master plan unveiling in Jan 2016
Nov 30, 2015 (LBO) – Sri Lanka’s government will unveil the ‘Master Plan’ it has developed to build Sri Lanka’s proposed ‘Western Region Megapolis’ during early January 2016, Minister Champika Ranawaka says.“The government is planning to adopt a four pronged strategy to build the ‘Megapolis’ which will be built within three phases running between the […]
Sri Lanka enters into Commonwealth trade finance for small states
Nov 30, 2015 (LBO) – Sri Lanka together with India, Malta and Mauritius have signed a declaration of intent to create a Commonwealth trade finance facility to boost trade and investment flows.The agreement was signed by the foreign ministers of the countries in Malta on November 26th.The voluntary fund hopes to attract start-up capital of […]
Mobitel considers strategic acquisition of local operator
Nov 28, 2015 (LBO) – Mobitel, a fully-owned unit of listed Sri Lanka Telecom, said it is considering a strategic acquisition of a local operator and denies reports that the company intends to pay over and above the value of the target entity. “Mobitel denies the assumptions and opinions made on the subject that Mobitel is […]
Commercial Bank hosts capacity building programme for Eastern dairy farmers
A capacity building programme conducted by the Commercial Bank of Ceylon recently for dairy farmers of the Kokkadicholai area in the Eastern Province benefitted 150 people involved in the industry. Jointly organised by the Bank’s Agriculture and Micro Finance Unit (AMFU) in Kattankudy, its Regional office – Eastern and the Kattankudy branch, the programme was conducted with […]
Sri Lanka can play an important role in world growth: British HC
Nov 26, 2015 (LBO) – Sri Lanka as an emerging economy can play a significant part in future world growth by unlocking it’s full potential through the right policies and reforms, the British High Commissioner said. “Emerging and developing countries will be increasingly important in driving global growth in the medium term,” James Dauris, British High Commissioner […]
Blanket guarantee for Finance Companies questionable: Theagarajah
Nov 25, 2015 (LBO) – Sri Lanka’s Finance Ministry is to provide a blanket guarantee for finance companies which needs to be reconsidered, Chief Executive Officer of NDB, Rajendra Theagarajah said.Finance minister delivering the budget speech said the Central Bank will provide a 100 percent guarantee on all deposits for all registered finance companies by […]