Category: Industry
Google Loon project to cover Sri Lanka with 3G internet
July 28, 2015 (LBO) – Sri Lanka’s government and Google on Tuesday signed an agreement to cover the Island with 3G internet under ‘Google Loon project’.Sri Lanka is the first country in the world to have Internet access covering the whole country with the government support, Google Vice President and Project Leader on GoogleX Project […]
Kantale sugar gets foreign investment of USD 100MN for restructuring
July 28, 2015 (LBO) – Sri Lanka’s Board of Investment (BOI) signed 100 million US dollars agreement with M G Sugars Lanka, a subsidiary of UK based Mendel Gluck to restructure the island’s state owned Kantale Sugar Factory.“Sri Lanka’s government will own 51 percent of the factory while 49 percent will be held by the […]
Sri Lanka’s Carson says palm oil market seems promising despite crude oil price drop
July 28, 2015 (LBO) – The palm oil industry looks promising and demand should grow in future despite the price drop of crude oil and maturing trees, according to Sri Lanka’s Carson Cumberbatch group with plantations in Malaysia and Indonesia. However in spite of positive expectations, Carson’s palm oil prices experienced much volatility during the […]
Pakistan rises to eighth position in ODI rankings after series win in Sri Lanka
July 27, 2015 (LBO) – Pakistan has moved into the eighth position in the ICC ODI Team Rankings after its 3-2 series victory against Sri Lanka in the five-match series which concluded in Hambantota yesterday. Sri Lanka remains in fifth place though the country has dropped three ranking points creating an opportunity for sixth-placed England, […]
Sri Lanka’s tourism industry driven by informal arrivals, online bookings
July 27, 2015 (LBO) – Sri Lanka’s tourism industry is seeing a new trend where the informal arrivals are overtaking the formal arrivals, the tourism chief said. Rohantha Athukorala, the chairman of the Sri Lanka Tourism Promotions Bureau, giving the example of German arrivals to Sri Lanka, said 5,650 arrivals had been registered but data […]
Sri Lankan exporter secures Rs53mn order for Ceylon Sapphire
July 27, 2015 (LBO) – A Sri Lankan exporter from Matale has secured a 53 million rupee order for Sapphire gems at the recently held Milano exposition, Sri Lanka Tourism Promotion Bureau (SLTPB) said in a statement.“The buyer hails from Zhejiang Province in China and has signed the agreement for delivery within a year,” the […]
Swisstek profit +25% in 3 months to June
July 27, 2015 (LBO) – Sri Lankan based Swisstek (Ceylon)’s group net profit showed a 25 percent increase to 28.9 million rupees for the three months ended June 2015, interim report said.The manufacturer of tile grout, tile mortar and decorative pebbles said revenue rose 44 percent to 509 million rupees from 354 million rupees in […]
Sri Lanka’s banking Industry should adopt new tech before it gets isolated: Aravinda Perera
July 27, 2015 (LBO) – Sri Lanka’s banking industry should make use of digital technology to improve customer service and to be on par with the competitive global payment industry, one of its banking leaders said. In today’s world it is not only a bank playing in the payment industry but also telcos, supermarkets and […]
Sri Lanka’s President to appoint special investigation commission on Golden Key
July 24, 2015 (LBO) – Sri Lanka is to appoint a special investigation commission to probe irregularities occurred in the Golden Key Company, President Maithripala Sirisena said.“I decided to appoint a special investigation commission headed by a retired judge on Golden Key Company after having discussions with Prime Minister and Finance Minister,” Sirisena told a […]
MAS in chemical leasing arrangement for waste water treatment
July 24, 2015 (LBO) – MAS Active Linea Intimo announced it has entered into a chemical leasing arrangement for waste water treatment, a world’s first for the industry, according to the garments manufacturer. Chemical leasing is a business model in which a chemical is leased from a company providing its service. MAS Active Linea Intimo […]
Sri Lanka Customs to get modern container scanning facility; dock yard for Hambantota Port
July 23, 2015 (LBO) – Sri Lanka’s cabinet has approved a proposal to install a modern container scanning system at Sri Lanka Customs with the view of improving the efficiency and productivity of Customs.The proposal has been made by Finance Minister Ravi Karunanayake to implement the system through a partnership with the private sector.Sri Lanka […]
Sri Lanka’s Janashakthi Insurance names Esufally as deputy Chair
July 23, 2015 (LBO) – Sri Lanka’s Janashakthi Insurance has appointed Husein Esufally as its new Deputy Chairman and director of the company and Jude Fernando as Chief Executive Officer, a statement said. “Janashakthi Insurance has appointed well-known corporate leader Husein Esufally to a new position as Deputy Chairman and a non-executive independent director with […]