Category: Industry
Sri Lanka’s EDB to tap Canadian market through increased connectivity
June 19, 2015 (LBO) – Sri Lanka’s Export Development Board (EDB) has partnered with the Trade Facilitation Office of Canada to enhance EDB’s capacity to assist small and medium sized exporters.The Canadian market access and capacity building services program includes Canadian market familiarization tours, market entry study and training programs, the Canadian High Commission said […]
SMEs to drive banking loan growth going forward: Asia Securities
June 19, 2015 (LBO) – Sri Lanka Asia Securities says that small and medium enterprises (SME) will drive banking loan growth going forward. “The SME sector is expected to drive the economic growth going forward,” Asia Securities says in a recently launched banking report titled ‘Banks: An Evolving Story of Elephants and Cheetahs’. Banking Loan […]
SriLankan flight experiences turbulence, minor injuries to crew
June 18, 2015 (LBO) – Sri Lanka’s state airline, SriLankan Airlines’ Colombo bound flight UL 564 from Paris had experienced a turbulent weather conditions over the Arabian Sea, close to India, landed safely at BIA this morning, the airline said in a statement.The Aircraft was an Airbus 330-200. SriLankan says the flight was carrying 193 […]
Adam Capital ventures into micro credit business
Jun 18, 2015 (LBO) – Sri Lanka’s Adam Capital has incorpotared their micro credit busines under the name of Adam Capital Micro Credit private limited to explore the micro finance sector in the island.“Central Bank approval is not reqiired as the Micro Finance Act has not been passed in Parliament.” the company said in a […]
‘l bids to be opened for cross country oil pipeline
June 18, 2015 (LBO) – Sri Lanka’s government to call for an open international tender to construct a new pipeline network that carries oil from Colombo Harbour to Kolonnawa wholesale terminal, cabinet spokesperson Rajitha Senaratne said.He said the existing network is 40 to 70 years old and is in a very dilapidated status. A proposal […]
Sri Lanka Tourism – Air India tap into Trade Tourism
June 18, 2015 (LBO) – Sri Lanka’s tourism promotion bureau and Air India signed a joint promotion to target the top end of Delhi outbound traveler into Sri Lanka, a statement said.India is the biggest tourist arrival market for Sri Lanka with Indian arrivals clocking in a 38.2 percent growth in May and cumulative growth […]
Sri Lanka Ports Minister calls for maritime policy to develop sector
June 18, 2015 (LBO) – Sri Lanka’s Ports and Aviation Minister Arjuna Ranatunga says that if the maritime industry is to progress further it needs to have clear policy. “What we are trying to do is to get the industry and the experts together and make a policy through that,” Ranatunga said recently. “We are here to support […]
Microsoft announces leadership changes; former Nokia CEO leaves Microsoft
June 18, 2015 (LBO) – Software giant Microsoft Corporation on Wednesday announced changes to its senior leadership team to drive engineering alignment against the company’s core ambitions.“We are aligning our engineering efforts and capabilities to deliver on our strategy and, in particular, our three core ambitions,” Microsoft CEO Satya Nadella said. Three ambitions are referred […]
Sri Lankan airlines revenues up 10-pct in Q1 2015
June 17, 2015 (LBO) – Total revenue of Sri Lankan Air lines has increased by 9.8 percent in the first quarter of 2015, the state statistics office said. “Passenger kilometers flown and total revenue of Sri Lankan Air lines has increased by 7.7 percent and 9.8 percent respectively in the first quarter of 2015,” the […]
Sri Lanka’s Pan Asia Bank’s senior debt rated “BBB” (lka): Fitch
Jun 17, 2015 (LBO) – Fitch Sri Lanka has rated Sri Lanka’s Pan Asia Banking Corporation proposed listed senior unsecured debentures of up to 4.0 billion with a National Long-Term rating of ‘BBB(lka)(EXP)’. The full statement follows: Fitch Ratings-Colombo/Hong Kong-17 June 2015: Fitch Ratings has today assigned Pan Asia Banking Corporation Plc’s (PABC; BBB(lka)/Negative) proposed […]
Sri Lanka’s Hambantota port needs to be made viable: Minister
June 17, 2015 (LBO) – Sri Lanka’s Hambantota port should be transformed to a level of making profits as in the case of the Colombo Port, Ports and Aviation Minister Arjuna Ranatunga said. “We must make Hambantota a viable port and get it on the right track and develop it. This is the issue that […]
Sri Lanka bloated public sector needs HR reforms to create national prosperity: HR expert
June 17, 2015 (LBO) – Sri Lanka’s laid back public sector needs human resource reforms to help the country move forward and create national prosperity, a human resource expert said.“Unfortunately it reminds me the value of human resource development is yet to develop in the public service who is expected to make a crucial contribution […]