Category: Industry
Mobile Edge
April 04, 2012 (LBO) – A mobile phone ranking system is being developed to help Sri Lankan pineapple farmers identify suppliers of good quality planting material and avoid buying diseased plants that could destroy entire crops. The initiative is part of efforts to make more use of information and communication technology like mobile phones to […]
Diversion
Apr 03, 2012 (LBO) – Vehicle imports would be routed through a new port in Hambantota in the south of the island from May 31, which will speed up clearing of cars, state-run Sri Lanka Ports Authority said. SLPA said roll-on roll-off vessels were experiencing berthing delays and delays in clearing were also causing congestion. […]
Asian Footprint
Apr 02, 2012 (LBO) – London Stock Exchange which is using software developed by a Sri Lanka based firm to run the world’s fastest trading platform said it is looking to expand operations is Asia, including more outsourcing. London Stock bought MillenniumIT, a Sri Lanka-based exchange software maker, three years ago, which has supplied at […]
Sri Lanka to get Tiger Airways flights from May
Apr 01, 2012 (LBO) – Singapore-based Tiger Airways, a budget carrier, said it is starting thrice-a week flights to Sri Lanka’s capital Colombo from May 31, as the island attraction as a tourist spot grows after the end of a civil war. “We are pleased to announce the launch of our direct flights between Singapore […]
Airport Link
Apr 01, 2012 (LBO) – Sri Lanka is planning a 600 million dollar high-speed rail link to it capital Colombo from the main international airport with a Malaysian led firm coming in as a promoter, a media report said. Sky bridges or underwater tunnels would link the terminal to the main railway station in Colombo […]
Petro Deal
Mar 31, 2012 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation has struck a deal to import 500 million US dollars of petroleum products from Vietnam over the next six months, ambassador Ton Sinh Thanh said. Ambassador Thanh told an economic forum organized by the Institute of Policy Studies and the embassy of Vietnam that […]
” compliance has advantages
Mar 31, 2012 (LBO) – Sri Lankan exporters will have to ensure the ‘greenness’ of their products to comply with environmental rules of importers to ensure future market access, an official said. There is a major shift in environmental and sustainable policies worldwide, said Edward Clarence-Smith of the United Nations Industrial Development Organisation Sri Lankan […]
Sri Lanka hosts trade facilitation forum
Mar 30, 2012 (LBO) – Sri Lanka Export Credit Insurance Corporation and the Commonwealth Secretariat is hosting a trade facilitation and export seminar in Colombo, its organizers said. The Commonwealth Secretariat is an intergovernmental agency which facilitates co-operation among Commonwealth nations and advises on policy. A study conducted in 2009 by the Commonwealth Secretariat on […]
Sri Lanka Mackwoods Energy share issue draws almost Rs400mn
Mar 30, 2012 (LBO) – The Initial Public Offering of Sri Lanka’s Mackwoods Energy Limited that was oversubscribed on the opening day has drawn applications worth almost 400 million rupees, a stock exchange filing said. The IPO was an offer for subscription for 25 million ordinary voting shares at 14 rupees each, to raise a […]
Sovereign Influence
Mar 30, 2012 (LBO) – Fitch Ratings has confirmed Sri Lanka Telecom’s (SLT) long-term foreign-currency and local-currency issuer default ratings (IDRs) at ‘BB-‘ and its national long-term rating at ‘AAA(lka)’. The outlook on the ratings is stable, the rating agency said in a statement. “SLT’s IDRs are constrained by the respective sovereign IDRs of ‘BB-‘. […]
Board Change
Mar 29, 2012 (LBO) – Sri Lanka’s Pan Asia Banking Corporation (PABC) said its chairman A G Weerasinghe will step down from April 02 and will be replaced by Nimal Perera. Weerasinghe will remain a director. Eshana De Silva has been appointed deputy chairman and Anthony page as senior director also from April 02, the […]
Rail Links
Mar 29, 2012 (LBO) – Sri Lanka’s is studying the building of a new railway track to the east of the country and also extend another rail track to Hambantota in the South, minister Lakshman Yapa Abeywardene said. He said the cabinet of ministers had asked the Central Engineering Consulting Bureau, a state agency to […]