Category: Industry
Sri Lanka vehicle registrations hit another high in Sept: JBS
Oct 11, 2015 (LBO) – Vehicle registrations hit another all-time record on most categories barring 2-wheelers in September. In some categories the growth over the previous month is alarming, JB Securities said in a research note. Total motor car registrations recorded 14,301 units in Sep up from 9,107 units in Aug and a mere 3,539 […]
”’ rating: Fitch
Oct 10, 2015 (LBO) – Sri Lanka’s Sampath Bank’s subordinated debentures has been assigned a National Long-Term Rating of ‘A(lka)(EXP)’, Fitch ratings said in a statement. The full report follows: Fitch Rates Sampath Bank’s Subordinated Debt ‘A(lka)(EXP)’ Fitch Ratings Fitch Ratings has assigned Sampath Bank PLC’s (A+(lka)/Stable) proposed Basel II-compliant subordinated debentures an expected National Long-Term Rating […]
Janashakthi to3.2bn
Oct 09 2015, (LBO) – Sri Lanka’s Janashakthi Insurance said on Friday it was purchasing a 100 percent stake of AIA General Insurance Lanka, a fully owned subsidiary of AIA Insurance Lanka for 3.2 billion rupees. The timeline of completion of the proposed acquisition, once required approvals are secured, is expected to be on or […]
LBR LBO infrastructure summit announced to media
Oct 08, 2015 (LBO) – There is an urgent need to move forward with intelligent urban design and development if Sri Lanka aspires to make Colombo a regional hub.This was the call of the organizers of LBR LBO’s infrastructure summit “Making Colombo a Globally Competitive City,” which will be held on November 3rd and 4th […]
‘s Dialog launches new service to pay mobile pensions
Oct 08, 2015 (LBO) – Sri Lanka’s Pensions Department on Thursday entered into a partnership with Dialog easy cash mobile money service to deliver pensions directly in to the pensioners hand through mobile devices.This innovative service for pensioners will ease the waiting queues at post offices or banks to get the funds. After registering with […]
Sri Lanka to call bids for urban rail project soon-Updated
Oct 08, 2015 (LBO) – Sri Lanka will be calling for international competitive bids for its first urban railway project, Upul Jayasuriya, chairman of Sri Lanka’s Board of Investment told foreign media.Japanese foreign media reports quoted the BOI chief saying that the Sri Lankan government is considering introducing either monorails or subways, as traffic congestion […]
Sri Lanka vehicle prices to increase with new customs valuation basis
Oct 08, 2015 (LBO) – Sri Lanka’s finance minister has signed an extraordinary gazette to change the basis on which customs calculates the value of certain motor vehicles, and prices of some vehicles may increase by almost 50 percent, car dealers said.With this order the actual transacted FOB value of the vehicle has been excluded […]
Microsoft unveils its first ever laptop, Surface Book
Oct 07, 2015 (LBO) – Microsoft today unveiled its first ever laptop, the Surface Book as part of its new product package designed especially for windows 10. Surface Book is a powerful laptop combining a 6th Gen Intel Core i5 or i7 processor with up to 16GB of memory and an optional discrete graphics chip. […]
Technology changing the face of travel bookings, Sri Lanka should be more concerned
Oct 7, 2015 (LBO) – Sri Lanka tourism sector needs to look into travel booking platforms using internet and mobile technology to attract more visitors to the island, an analysts told a forum held in Colombo. “One of the consumer surveys that we did shows that foremost of any travel booking is use of internet,” […]
Turkey keen on opportunities in Sri Lanka, Room for joint trade and investment
Oct 06, 2015 (LBO) – Sri Lanka and Turkey have scope to increase bilateral economic and trade relations with room for joint trade investments, says Tunca Ozcuhadar, the ambassador of Turkey said in a statement. “We would like to enhance our relations with Sri Lanka which is already excellent,” Ozcuhadar said. “Still, there is great […]
RBI Governor in Colombo say US hike delayed amid slow growth
Oct 06, 2015 (LBO) – The Reserve Bank of India Governor Raghuram Rajan says those who were betting on a September U.S. rate hike now see it delayed until March, amidst weaker economic data. The RBI governor was speaking at the 65th Anniversary Oration of the Central Bank of Sri Lanka in Colombo on Monday. […]
Trans-Pacific Partnership agreement reached following tough negotiations
Oct 06, 2015 (LBO) – The United States and 11 Pacific Rim countries inked a trade deal that cuts trade barriers marking the end of five years tense negotiations, foreign media reports said. The agreement reached on Monday defines the rules of the road for trade in the Asia-Pacific region. TPP will encourage trade between […]