Category: Industry
Infrastructure: No land shortage in Colombo, a transformation underway, says DG UDA
Nov 04, 2015 (LBO) – Sri Lanka’s commercial capital faces a core problem of under-utilization of land and there is no land shortage, the director general of the Urban Development Authority said at the LBR LBO Infrastructure Summit. Colombo has 65,000 slum and shanty houses occupying 900 acres of real estate in Colombo, he said. […]
‘s arrivals up 8.8-pct in Oct
Nov 04, 2015 (LBO) – Sri Lanka’s tourist arrivals rose 8.8 percent to 132,280 in October 2015 from an year earlier with continued growth in the Indian and Chinese markets.Arrivals in the first 10 months of the year were up 17.9 percent to 1.448 million, data from the state tourism authority showed.Indian tourists were up […]
Sri Lanka’s gem industry eyes recovery: OBG report
Nov 02, 2015 (LBO) – Sri Lanka’s gem and jewelry industry will have to strive harder to gain hub status as flat global sales of luxury goods and labour shortages are holding the industry back, a recent research report says. “Traders face a difficult operating environment industry wide, weighed down by the broader economic slump […]
Infrastructure: People should be consulted in future projects, says Min Ranawaka
Nov 02, 2015 (LBO) – Sri Lanka’s future infrastructure development projects should be done in consultation with the people, a Minister said.“We have identified some of the previous mistakes that were done with regard to infrastructure development during the previous regime,” Champika Ranawaka, Minister, Megapolis and Western Province development said. “The first one was that […]
Sri Lanka extends local and foreign expert services on Megapolis for five months
Oct 29, 2015 (LBO) – Sri Lanka has extended the local and foreign consultancy services on the Capital Colombo’s Megapolis project by five months, Cabinet Spokesperson and Mass Media Minister Gayantha Karunathilaka said.The government hired Surbana/ CESMA International, a part of Singapore’s state-run Housing Development Corporation, for a sum of 35 million rupees, to design […]
Bank of Tokyo Mitsubishi to set up a rep office, ease Japanese investment
Oct 29, 2015 (LBO) – The Bank of Tokyo Mitsubishi UFG Ltd (BTMU) formally announced that it will be opening a new representative office in Sri Lanka at the end of March 2016, subject to regulatory approval in Japan, Board of Investment said in a release. This initiative plans to facilitate investment by Japanese companies […]
Do the proper checks before buying apartments: Property developer
Oct 28, 2015 (LBO) – Sri Lankan apartment buyers are warned that there are risks in buying apartments and they should do the proper checks and minimize it, a property developer said.“Apartment buyers need to be careful when buying as they are spending their lifetime savings,” Brahmanage Premalal, chairman of Prime Lands said. “Most apartments […]
Dialog Axiata partners with Ericsson for Managed Enterprise Cloud in Sri Lanka
Oct 28, 2015 (LBO) – Sri Lanka’s largest connectivity provider Dialog Axiata has partnered with Ericsson to make Managed Enterprise Cloud services in Sri Lanka. Managed Enterprise Cloud enables operators to create and provide white-label enterprise software services flexibly and effectively. Ericsson will install and integrate the Managed Enterprise Cloud framework in Dialog’s data center […]
‘s CCC, Japan Kansai to promote trade and investment
Oct 28, 2015 (LBO) – Sri Lanka’s Ceylon Chamber of Commerce (CCC) signed an ‘Agreement of Cooperation’ to promote two way commercial ties with Japan’s Kansai Economic Federation, a statement said. “It enables both sides to exchange information on economic and business trends in the two countries, cooperate in trade, investment, environment conservation and energy-saving […]
Interview: Creating a tech ecosystem essential for Sri Lanka IT, says Manoj Ranaweera
Oct 27, 2015 (LBO) – Building a tech ecosystem is crucial for a thriving IT sector, according to a Sri-Lankan born entrepreneur. Manoj Ranaweera was a key architect behind the ecosystem put in place in Manchester between 2006 and 2013.Through 100 events he rallied together over 2,000 entrepreneurs, investors, deal makers and senior managers of […]
Commercial real estate market has high potential for ROI: analysts
Oct 26, 2015 (LBO) – The demand for Sri Lanka’s commercial property is growing and there will be high potential for return on investment, experts said. “Sri Lanka’s commercial real estate has high potential for return on investment (ROI),” Ravi Abeysuriya, group director of Candor, a financial consultancy service said. “Retail rental yields for commercial […]
Fitch affirms ratings on five Sri Lankan banks
Oct 23, 2015 (LBO) – Sri Lanka’s Fitch Ratings has affirmed the National Long Term Ratings on five small and mid-sized Sri Lankan banks. The rating announcement is reproduced below. Nations Trust Bank PLC (NTB) has been affirmed at ‘A(lka)’, Pan Asia Banking Corporation PLC (PABC) at ‘BBB(lka)’, Sanasa Development Bank PLC (Sanasa) at ‘BB+(lka)’, […]