Category: Industry
‘s GSP+ application
Nov 17, 2015 (LBO) – The European Council has noted progress made by Sri Lanka on GSP+ criteria and supports renewed application, the institution representing the EU member states’ governments said in a statement. Sri Lanka intends to apply for tariff preferences provided under the special incentive arrangement for sustainable development and good governance (GSP+) […]
Innovation crucial for Sri Lanka’s future success: ex central banker
Nov 17, 2015 (LBO) – Sri Lanka’s ability to invent and innovate will be vital for economic development and developed country status, a former central banker says.“The future of Sri Lanka will depend on the development of science and technology and how we combine inventions with innovations;” W.A. Wijewardena, former deputy governor of the Central […]
Ceylon Hotels Corp to construct a 50-room hotel in Maldives for USD27.7mn
Nov 16, 2015 (LBO) – Sri Lanka’s Ceylon Hotel Corporation said that it plans to construct a 50-room hotel in Maldives with an investment of 27.7 million US dollars. The company said that it has approved an acquisition of the entire shareholding of Ceylon Hotel Maldives (Pvt )Ltd (CHML) for a sum of 700,020 rupees […]
Sri Lanka’s NDB net down 32-pct in September
Nov 13, 2015 (LBO) Sri Lanka’s National Development Bank PLC reported a 32 percent dip in profits to 855 million rupees in the September quarter of 2015 compared to the same period in 2014, interim report showed. NDB reported earnings per share of 5.13 rupees for the quarter, interim accounts filed with the Colombo Stock […]
China Construction to carry out free feasibility for Sri Lanka’s eastern rail line
Nov 12, 2015 (LBO) – Sri Lanka’s Cabinet spokesperson, Minister Rajitha Senaratne said the government has approved a free feasibility to be carried out by China State Construction Engineering Corporation for the islands north central and eastern railway lines. The feasibility will focus on the rail tracks from Maho to Batticaloa and Galoya to […]
Sri Lanka stocks close down 0.2-pct: Budget concerns
Nov 11, 2015 (LBO) – Sri Lankan stocks closed down at 0.18 percent on Thursday a third consecutive session with investors keeping on the sidelines over budget concerns, brokers said. The Colombo benchmark All Share Price Index closed down 12.88 points at 7,006.35 lower 0.18 percent. S&P SL20 closed 9.39 points lower at 3,781.22 down 0.25 […]
Sri Lanka to amend Fisheries act, increase penalties for offences in international waters
Nov 12, 2015 (LBO) – Sri Lanka will change the law on governing the operation of fishing vessels in international waters, cabinet spokesman Minister Rajitha Senaratne said. “Cabinet of Ministers has approved the amendment of the Fisheries’ and Aquatic Resources Act 02 of 1996 for the increase of penalties for the offences done in the […]
Sri Lanka’s Janashakthi Insurance September net down 56-pct
Nov 12, 2015 (LBO) – Sri Lanka’s Janashakthi Insurance net profits dropped 56 percent to 102 million rupees in the September quarter against a year earlier amid increased benefits and claims, the firm’s interim accounts showed. Gross written premiums rose 15 percent to 2.5 billion rupees with net premiums also up by 15 percent to 2.2 […]
Mihin Lanka to recommence flights to Male from today
Nov 12, 2015 (LBO) – Sri Lanka’s Mihin Lanka will recommence flight operations to Malé, Maldives from today, the company said.“A total of three weekly flights will be introduced and will operate every Tuesday, Thursday and Saturday from Bandaranaike International Airport.” Rohana Perera, head of commercial, Mihin Lanka said they were adding another SAARC destination […]
Lanka IOC unit records Rs373mn loss in Sept quarter
Nov 12, 2015 (LBO) – Lanka IOC, a unit of Indian Oil Company, has reported 373 million rupees loss in September 2015 quarter against 1.1 billion rupees profit reported a year earlier, interim accounts showed. The firm reported negative basic earnings of 0.70 rupees per share in the quarter compared to positive earnings of 2.13 […]
‘s Kishore Reddy
Nov 12, 2015 (LBO) – Sri Lanka’s real estate market’s full potential needs to be tapped through big investments funds which can pave the way for the island to join its regional counterparts, a property developer said. “The big real estate investment funds and investors have not come to Sri Lanka yet and some of […]
10,288 motor car registrations in Oct in Sri Lanka: JB Securities
Nov 11, 2015 (LBO) – October continued to recorded strong numbers for vehicle registrations in Sri Lanka although down from the record set in September, JB Securities said in a research note. LTV cap of 70 percent was in force during October so it may have had some impact on the slowdown, the note said. […]