Category: Industry
Sri Lanka needs balanced approach to urbanization: Min. Ranawaka
Oct 06, 2015 (LBO) – Sri Lanka’s challenge is how to achieve a pace and pattern of urban development that is beneficial to people and how to make a balanced approach to urbanization, Minister Champika Ranawaka said. “Urbanization has both positive and negative impacts on society,” the Minister of Megapolis and Western Development said. “It […]
Q&” grade commercial property
Oct 06, 2015 (LBO) – Apartment complexes have had a strong hand in shaping the skyline of Colombo with the island’s real estate and construction industry sectors presently experiencing a boom. The key market drivers remain the luxury condominium market which has picked up within the last year. However, experts warn that buying by expatriate […]
SriLankan flights on-time performance among top 16 airlines
Oct 05, 2015 (LBO) – SriLankan Airlines’s flights on-time performance in August has been ranked 16 out of 50 international airlines rated by a global flight data service. The Airline has recorded an on-time performance of 85.26 percent of its flights in August 2015 and not far off that of the 91.48 percent of first […]
Sampath Bank to raise Rs7bn from listed debenture
Oct 05, 2015 (LBO) – Sri Lanka’s commercial bank sector player Sampath Bank is to raise 7.0 billion rupees from a listed debenture issue, the bank said in a stock exchange filing. Sampath Bank has decided to issue 50 million debentures at 100 rupees each with an option, to issue up to a further 20 […]
Sri Lanka’s proposed finance bill discourages private sector investment: CCC
Oct 05, 2015 (LBO) – Sri Lanka’s Finance Bill of March 2015 sends negative signal to the private sector and discourages investment, the Ceylon Chamber of Commerce (CCC) said in a statement, Sunday. “ The CCC believes that the Finance Bill of March 2015, presented to Parliament recently sends a negative signal to the private […]
Tourist arrivals up 36-pct driven by arrivals from India and China
Oct 04, 2015 (LBO) Sri Lanka’s tourist arrivals rose to 143,374 visitors, up 35.9 percent in September 2015 from a year ago, a statement said.Arrivals for the nine months to September were up 17.1 percent to 1,315,839 from a year ago, the latest tourism data shows. In September India arrivals rose 41.5 percent to 27,233 while Chinese […]
Sri Lanka up five notches in Global Competitiveness Report
Oct 02, 2015 (LBO) – Sri Lanka has moved up five ranks to 68 from 73 in a global index of the world’s most competitive economies for the year 2015-16.The Global Competitiveness Report 2015-2016 assesses the competitiveness of 140 world economies.The report, which serves as a reference point for investors worldwide, comes in a year […]
Amalgamated DFCC Bank starts operations today
Oct 01, 2015 (LBO) – Amalgamated DFCC Bank has officially kick-started its commercial operations from today on-wards after receiving the approval from the registrar general on Thursday.The Bank has received the Certificate of Amalgamation in terms of Section 244 (1) (a) of the Companies Act.Accordingly, the DFCC Vardhana Bank has been amalgamated with DFCC Bank […]
‘s smartphone market
Oct 01, 2015 (LBO) – HTC, a mobile phone manufacturer entered the Sri Lankan market with a portfolio of smartphones, a statement said. “We are pleased to launch our smartphones in the Sri Lankan market,” Faisal Siddiqui, President, HTC South Asia said. “All the HTC devices are stunning, intuitive and advanced in technology. Our new HTC desire […]
2015 most dangerous celebrities in the world
Oct 01, 2015 (LBO) – Intel Security has recently conducted a study using McAfee Web Advisor to determine the number of risky sites that would be generated in search results including a celebrity name and commonly searched terms. Intel Security refers to these stars as the Most Dangerous Celebrities, meaning that they are likely popular […]
Textured Jersey to offer share options to employees
Sept 30, 2015 (LBO) – Sri Lanka’s Textured Jersey Lanka says it will implement an employee share option scheme (ESOS) for directors and selected executives in management positions, in a stock exchange filing. The total number of shares to be issued, if all of the share options are exercised in full, amounts to 27 million […]
Sri Lanka’s exports and imports both declined in July 2015: Central Bank
Sep 29, 2015 (LBO) – Sri Lanka’s exports earnings recorded a decline of 2.6 per cent, year-on-year, to 932 million US dollars in July 2015, reflecting a year-on-year decline in both industrial and agricultural exports.“Exports of all sub categories of industrial sector, except transport equipment, petroleum products and animal fodder, declined in July 2015, owing […]