Category: Industry
Sri Lanka hold talks with EU on GSP+ trade concessions
Mar 26, 2015 (LBO) – Sri Lanka are holding discussions on the retrieval of GSP Plus, a system granting tax free entry for the counties goods to the European Union market, the industry and commerce ministry said in a statement. The industry and commerce ministry said earlier this week in Colombo that the talks were […]
Sri Lanka to produce indigenous natural gas and stop importing fossil fuel: Official
Mar 24, 2015 (LBO) – Sri Lanka’s new government targets 100 percent clean indigenous energy to develop the island as a green country while importing fossil fuel, an official from the Ministry of Power and Energy said.“We want to develop the country but it has to be more green and environment friendly development,” Suren Batagoda, […]
Sri Lanka to produce indigenous natural gas and stop importing fossil fuel: Official
Mar 24, 2015 (LBO) – Sri Lanka’s new government targets 100 percent clean indigenous energy to develop the island as a green country while importing fossil fuel, an official from the Ministry of Power and Energy said. “We want to develop the country but it has to be more green and environment friendly development,” Suren […]
Sri Lanka’s new Inland Revenue chief to strengthen staff capacity with more training
Mar 24, 2014 (LBO) – Sri Lanka’s Inland Revenue department says they intend to strengthen the capacity of the department’s staff by educating and providing further training for them.“I want to ensure that the employees of the whole department are strengthened and made more capable through education, training and further qualifications. This will allow them […]
Apple to become a trillion dollar company
Mar 24, 2015 (LBO) – As Apple gets ready to launch its first new product in five years, Cantor Fitzgerald is raising its price target to a level that would make Apple a trillion company, a Bloomberg business report said.People first started talking seriously about the potential for Apple to become a trillion dollar company […]
Microsoft’s Power BI free preview now available in Sri Lanka
Mar 20, 2015 (LBO) – Microsoft Corporation recently allowed worldwide customers to experience the free preview of their improved cloud-based business analytics service introduced for non-technical business users. The service first unveiled in January, referred to as Power BI; can keep a pulse on businesses by bringing all the data together and monitor it through […]
Sri Lankas’s Access Engineering accepts new govt.’s position on BIA runway contract: Chairman
Mar 20, 2015 (LBO) – Sri Lanka’s Access Engineering, a construction company said they have no issue in accepting the new government’s decision to annul the contract awarded overlay the islands airport runway, it’s Chairman said.“We have no issue with this, we don’t see it as a problem,” Sumal Perera, chairman, Access Engineering told LBO […]
Sri Lanka’s regional plantation companies report Rs. 2,850 mn losses in 2014: Planters Association
Mar 20, 2015 (LBO) – Sri Lanka’s planters associations says about 19 Regional Plantation Companies’ (RPCs) have reported a loss amounting to 2,850 million rupees due to low prices in the world market and high production costs. “By end of 2014, on average the RPCs were making a loss of approximately 30 rupees per kilogramme […]
Sri Lanka’s ICT export sector revenue to hit US $ 1 bn in 2015: Minister
Mar 20, 2015 (LBO) – Sri Lanka’s ICT exports are projected to top one billion US dollars this year while the sector has grown at 123 per cent in the last five years, Minister of Industry and Commerce said.“Sri Lanka has launched an ICT value survey to find the national hi-tech exports it achieved in […]
Sri Lanka new political setting makes bank consolidation uncertain: Rating agency
Mar 18, 2015 (LBO) -The recent change in Sri Lanka’s political setting adds to uncertainty over the fate of the earlier administration’s policies related to economic reforms, monetary policy, and banking sector consolidation, the Standard & Poor rating services said in a report published yesterday. The statement by Standard & Poor rating reproduced below:- The […]
India’s PM Modi says plans are not only to address problems but to look opportunities in Sri Lanka
Mar 13, 2015 (LBO) – Sri Lanka should be visited regularly by India as neighbors and collaborate in developing economic cooperation in both countries in order to get the advantage of ocean economy, Prime Minister of India Narendra Modi said at a gathering in Colombo. “This is how it should be between neighbours. We should […]
Lanka IOC and CPC agrees to develop Trinco upper oil tank farm
Mar 13, 2015 (LBO) – Lanka IOC and Ceylon Petroleum Corporation have agreed to develop the upper oil tank farm of the China Bay installation in the Trincomalee, addressing a gathering at the presidential secretariat Indian Prime Minister Narendra Modi said.The modality of the project which will be carried upon on mutually agreed terms is […]