Category: Industry
Sri Lank tourism infrastructure still has visible gaps: Report
July 13, 2015 (LBO) – Sri Lanka has to continue to invest in improving domestic transport and air connectivity in order to realize the full potential of the industry, a report by a stockbroker said. “At present Sri Lanka’s road network is improving at a slow but steady pace with some of the key areas […]
Sri Lanka’s Hambantota Port first phase, a burden of USD51mn per year: SLPA
July 13, 2015 (LBO) – Sri Lanka’s government had to pay 51 million US dollars per year as loan repayments for the first phase of the Hambantota Port, Sri Lanka Ports Authority said. The first phase of the Port commenced in 2007 and incurred over 500 million US dollars while 90 percent of which was […]
Sri Lanka needs more value added tea exports; brew only 4-pct locally: EDB
July 10, 2015 (LBO) – Sri Lanka needs to look at higher value additions in tea and the current value additions are not giving the required value addition levels, the head of EDB said. Bandula Egodage, the chairman of Export Development Board said a whopping 96 percent or 325 million Kilograms of Pure Ceylon Tea leave […]
Sri Lanka Tourism aggressively promote Disney’s “Monkey Kingdom” in China
July 10, 2015 (LBO) – Sri Lanka Tourism said that it will aggressively promote Sri Lanka in the Chinese market by launching Disney’s epic “Monkey Kingdom” in Shanghai, China.The Tourism Promotion Bureau says, as at last week Monkey Kingdom box office sales was at 16.7 million dollars in the US market. “We are also pursuing […]
Indian Cricket Team to tour Sri Lanka for three Test matches
July 10, 2015 (LBO) – Sri Lanka Cricket and India Cricket Board on Thursday confirmed the schedule of India’s tour to Sri Lanka in August-September 2015.The tour will start with a three-day warm-up game against Sri Lanka Chairman’s XI, followed by three Test matches. The Test matches will be played at Galle, Tamil Union Oval, […]
NWSDB to improve pipe water facility with Rs3.5 bn investment
July 9, 2015 (LBO) – Sri Lanka’s cabinet of ministers have given approval for National Water Supply and Drainage Board to obtain a loan facility of 3449 million rupees to implement 22 water supply projects, cabinet spokesman said.The loan will be taken from Bank of Ceylon.The proposal was made by Minister Rauf Hakeem to issue […]
Hambantota port second stage water filling this weekend
July 09, 2015 (LBO) – The water filling ceremony of Hambantota port second stage is to be held on 11 July 2015 with the initiatives of Ports Minister Arjuna Ranathunga, the Sri Lanka Ports Authority said.The main construction work of the phase one was officially commenced on 15 January 2008 and the first vessel was ceremonially […]
Sri Lanka and Australia to increase trade
July 9, 2015 (LBO) – The Sri Lanka Australia Chamber of Commerce (SLACC) was officially launched at the New South Wales Business Chamber Head Office in Sydney, Australia to increase trade activities between the two countries, a statement said. The SLACC is the first, and only integrated bilateral Chamber umbrella constituted in Australia, to foster […]
Fitch Affirms Nine Sri Lankan Banks; Downgrades Sampath Bank
July 08, 2015 (LBO) – Sri Lanka’s Fitch Ratings has affirmed the ratings on nine local banks while downgrading the national long term rating of Sampath Bank which reflects the weakening of its capitalization relative to peers, which offset benefits from the growth of its franchise. The full text of the press release issued by Fitch […]
Kerala government to start a tourism campaign in Sri Lanka
July 08, 2015 (LBO) – Kerala tourism department is to start an aggressive ‘Visit Kerala’ campaign in Sri Lanka, Kerala state tourism minister has said. “Around 2.2 lakh tourists from Sri Lanka visit India every year but very few travel to Kerala,” State tourism minister A. P. Anil Kumar has told Indian media. “We will […]
“The sooner we have political stability the better”: Dialog Chief
July 08, 2015 (LBO) – Political uncertainty coming to an end is a good thing for all listed companies as this will lead the way for more investments, Hans Wijayasuriya, Group Chief Executive, Dialog Axiata said. “The sooner we see stability the better,” he said.“This will also pave the way for more foreign investments,” “But […]
Team of American multinational Honeywell Corporation to arrive Sri Lanka next month: Eran
July 08, 2015 (LBO) – Honeywell Corporation, a Fortune 100 diversified technology and manufacturing conglomerate is to send a team next month to discuss investment opportunities in Sri Lanka, a former Deputy Minister said.Former Deputy Minister of Investment Promotion Eran Wickramaratne told LBO, the Corporation initially proposed to send a team here on 17 August […]