Category: Industry
Social Award
Sept 10, 2012 (LBO) – Sri Lanka’s Ceylon Chamber of Commerce said applications for its ‘best corporate citizen award’ for companies engaging in social work will close on September 14 as scheduled. The awards were started in 2004 to recognize companies which engaged in so-called corporate social responsibility activities. The Ceylon Chamber said application could […]
Time Share
Sept 09, 2012 (LBO) – Citrus Kalpitiya, a unit of Sri Lanka’s Citrus Leisure group said it will build 32 villas bordering a lagoon in the Indian Ocean Island’s western coast to be sold on 99-year leases with an offer to manage on a time-share basis. The firm is also planning a hotel in 78 […]
Sri Lanka Vietnam direct flights can boost tourism: travel trade
Sept 08, 2012 HUE/COLOMBO (LBO) – Tourist traffic between Sri Lanka and Vietnam could be boosted with direct air links which can cut travel time and ticket costs helping make the destination competitive, officials said. “In July a new air services agreement was reached,” Vietnam’s ambassador Ton Sinh Thanh said during an even in Colombo […]
Sri Lanka and South Africa in moves to expand trade links
Sept 07, 2012 (LBO) – Sri Lanka and South Africa has potential to further increase trade links, deputy economic development ministry Lakshman Yapa Abeywardene told a business forum attended by a visiting business delegation. He said South Africa belonged to the so-called BRICS group of countries with Brazil, India and China which together now accounted […]
US keen to boost investment, trade with Sri Lanka
Sept 07, 2012 (LBO) – Sri Lanka’s largest trading partner, the United States is keen to boost investment in the island and attract more Sri Lankan exports, the American chamber of commerce in Sri Lanka (AMCHAM) said. “The US has expressed its desire to increase more FDI (foreign direct investment) flows to Sri Lanka and […]
Sri Lanka halts power cuts
Sept 06, 2012 (LBO) – Sri Lanka has halted daily power cuts that came into effect last month after a coal fired power plant that was crucial to the system broke down, until further notice, the ministry of power and energy said. Data from the Ceylon Electricity Board shows about 25 percent of the energy […]
Golden Plan
Sep 06, 2012 (LBO) – Pure Gold, a Dubai based group wants to set up a chain of 30 outlets in Sri Lanka selling 18 carat gold jewellery by 2016, the island’s industries ministry said in a statement. Bank of Ceylon and Commercial Bank of Ceylon are the top suppliers of gold, and in 2011 […]
Business Services
Sept 06, 2012 (LBO) – SREI Infrastructure Finance Ltd of India has tied up with Arinma Holdings (Pvt) Ltd, a Colombo based firm to explore infrastructure opportunities in Sri Lanka as the island emerges from a 30-year civil war. The collaboration is targeting opportunities in advisory, equipment rental for the construction and healthcare sectors, and […]
Sri Lanka Vietnam trade up 51-pct in first six months: envoy
Sept 06, 2012 (LBO) – Two way trade between Sri Lanka and Vietnam reached 64 million US dollars in the first six months of the year, up 51 percent from a year earlier, Hanoi’s envoy to Colombo Ton Sinh Thanh said. “It is estimated that in the first nine months, the total trade between the […]
Transparent Pricing
Sept 05, 2012 (LBO) – Indian Oil Corporation’s Sri Lanka unit, Lanka IOC has called for a pricing formula for retail fuels which keeps parity with import prices a call that has been echoed by other economists and analysts. “It would help everyone if the Government of Sri Lanka could evolve a long-term pricing formula […]
Sri Lanka apparel exports buoyed by US demand
Sept 05, 2012 (LBO) – Brandix, a top Sri Lankan apparel exporter has seen strong demand from the US helping offset a slump in Europe demand helping keep revenue growth in positive territory, an official said. Sri Lanka’s apparel exports fell 1.6 percent to 1.98 billion rupees in the first six months of 2012, with […]
Sri Lanka tea estate export unit in profits
Sep 04, 2012 (LBO) – BPL Teas (Pvt) Ltd, a tea marketing unit of Sri Lanka’s Metropolitan group Bogawantalawa Estates Plc, has started making profits, chairman D J Ambani told shareholders. The tea growing parent firm said it lost money in tea with a 365 million rupee loss for the year partly due a steep […]