Category: Industry
Sri Lanka’s stalled Colombo port city back on track
Dec 11, 2015 (LBO) – Sri Lanka’s is all set for the Chinese-built port city project to commence work soon, a media report said.“We have given all the necessary clearances.Now it is up to the investors to sort out the minor details,” Ravi Karunanayake, Sri Lanka’s finance minister told the South China Post newspaper. “On […]
Leapset Engineering rebrands as CAKE LABS
Dec 11, 2015 (LBO) – Tech outfit Leapset Engineering has rebranded as CAKE LABS after having changed its US name from Leapset to CAKE. “We wanted to better align ourselves with what we stand for,” Shanil Fernando, managing director of CAKE LABS told reporters Thursday. “We strive to make restaurant owners’ lives easier, and CAKE […]
Govt. to call bids from local contractors for Central Expressway stage III
Dec 10, 2015 (LBO) – The cabinet has decided to select local contractors and supervision consultants for the Central Expressway Project stage III which is to be built from Pothuhera to Galagedara.As per Wednesday’s cabinet decision, contractors will be selected through competitive bidding under 05 packages, each of a length between 4.5km – 7.5km. The […]
USD100mn from ADB to strengthen SME sector in Sri Lanka
Dec 10, 2015 (LBO) – The cabinet nod has been given to a 100 million US dollar project to strengthen the Small and Medium Scale Entrepreneur field in Sri Lanka.The project will be funded by the Asian Development Bank.The cabinet has also approved to draft a new bill to facilitate Secured Transactions instead of the […]
‘s Asiri Hospitals
Dec 10, 2015 (LBO) – TPG Growth, a global private investment firm announced it bought a 28 percent stake in Asiri Hospital Holdings Plc, a unit of Sri Lanka’s Softlogic group in a 7.6 billion rupee deal, a statement said. “We’ve seen significant growth opportunities in healthcare across the globe, and particularly in […]
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Dec 10, 2015 (LBO) – Sri Lanka’s Dialog Axiata PLC launched its cloud services ‘Cumulus’ in Colombo on Wednesday together with several technology companies including Ericsson, EMC, Fortinet, Hewlett Packard, Kingslake, and Microsoft.Cumulus provides services such as virtual IT infrastructure, enterprise storage and data backup, messaging solutions, development platforms, device management, business applications, productivity solutions, […]
Sri Lanka Ports Authority gets new MD
Dec 07, 2015 (LBO) – Sri Lanka Ports Authority (SLPA) has appointed Sarathkumara Premachandra as it’s new managing director, the authority said in a statement. “We can make SLPA a successful and competitive public institution that feeds the national economy of the country in a real big way,” Premachandra was quoted as saying in the statement. […]
” mistakes in logistics, transport: CILT
Dec 07, 2015 (LBO) – Sri Lanka’s budget proposals for 2016 repeat many of the mistakes in previous budgets in the areas of logistics and transportation, the Chartered Institute of Logistics and Transportation says in its budget analysis. The institute said the “over-zealous” attitude to improve the road network is likely to continue with projects […]
Govt planning to list catering unit of SriLankan Airlines
Nov 07, 2015 (LBO) – Sri Lanka’s government is planning to list a minority stake of 30 percent to 49 percent of Sri Lankan Catering, a fully owned subsidiary of state owned SriLankan Airlines, a media report said. This will be through a competitive, open bidding process, the report said quoting sources. The company, the […]
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Dec 04, 2015 (LBO) – Continued GDP growth is driving the stable outlook for Sri Lanka’s banking system, Moody’s Investors Service said. “While seeing some slowdown compared to the growth rates seen in 2013-14, GDP growth in Sri Lanka should remain healthy at 6.7% over 2015-16. And an accommodative monetary policy should support this growth outlook,” says Srikanth Vadlamani, […]
Sri Lanka’s CSE to see infrastructure bonds and REITs soon
Dec 04, 2015 (LBO) – Sri Lanka’s Colombo Stock Exchange (CSE) chief said that new products in the form of infrastructure bonds and REIT’s will be introduced to broaden and add depth to the islands debt markets.“New products need be brought in, Sri Lanka’s debt market needs to be broadened and depth needs to be […]
Rs2.5bn Mulberry residence for young professionals
Dec 04, 2015 (LBO) – Sri Lanka Steradian Capital, a privately owned real estate development and consultancy business, unveiled plans for an apartment complex with an investment of 2.5 billion rupees targeting middle-income young professionals. “The vision for the project comes from our desire to improve the affordable and professional housing sector in Sri Lanka, […]