Category: Industry
Sri Lanka trade mission to Vietnam in March
Jan 19, 2012 (LBO) – A business delegation from Sri Lanka will visit Vietnam in March to expand trade, investment and tourism, the Ceylon Chamber of Commerce said. The Sri Lanka-Vietnam Business Council of the Ceylon Chamber is leading a trade and investment delegation to Vietnam’s capital Hanoi and Ho Chi Minh City, the economic […]
Sri Lanka coal power plant to get tax breaks
Jan 19, 2012 (LBO) – A 500 mega watt capacity coal plant to be built in eastern Sri Lanka with Indian aid is to get a range of tax exemptions and priority in approvals, the island’s Cabinet of ministers has decided. Recognition of projects under the ‘Strategic Development Project’ law entitles them to a range […]
Sri Lanka power projects eyed by Marubeni
Jan 19, 2012 (LBO) – Japan’s Marubeni Corporation plans to return to Sri Lanka and is keen on investing in power projects including supplying liquefied natural gas, the Ministry of Industry and Commerce said in a statement. Marubeni is a diversified multinational conglomerate engaged in diversified trading activities like imports and exports of food materials, […]
Load Level
Jan 19, 2012 (LBO) – Sri Lanka’s road development agency has allowed heavy vehicles to use the island’s first expressway opened late last year linking the capital Colombo with the southern town of Galle. Trucks with containers and other goods will be allowed to use the southern expressway along with buses, Road Development Authority director […]
Rail Support
Jan 19, 2012 (LBO) – IRCON International Ltd, an Indian company in railway infrastructure, has completed and handed over part of a rail track in southern Sri Lanka that is being upgraded with Indian aid. The formal hand over of th completed section of the Galle-Hikkaduwa railway track was made Thursday by S M Krishna, […]
Sri Lanka urged to use Senegal duty free market access
Jan 18, 2012 (LBO) – Sri Lankan apparel exporters can use duty free trade deals and cheap labour in the West African state of Senegal to gain access to markets in North America, the Ministry of Industry and Commerce said. A statement quoted Amadou Moustapha, newly appointed Ambassador of Senegal to Sri Lanka, as saying […]
‘s Galle literary festival starts Wednesday
Jan 18, 2012 (LBO) – Sri Lanka’s HSBC Galle Literary festival kicks off Wednesday with award winning writers, historians and poets from Canada, England, Germany, India, Ireland, Palestine, Singapore, United States and Sri Lanka taking part. Organizers are expecting more visitors to the festival this year with a new expressway cutting down travel time to […]
Leasing Trend
Jan 18, 2012 (LBO) – People’s Leasing Co. , Sri Lanka’s largest leasing company, said net profit in the December 2011 quarter rose 46 percent to 832 million rupees from a year ago. December 2011 quarter revenue rose 65 percent to 4. 2 billion rupees from a year ago while earnings per share rose 53 […]
Bilateral Links
Jan 17, 2012 (LBO) – Sri Lanka and India have signed an agreement to set up a mechanism of technical and institutional cooperation in telecommunications. The memorandum of understanding is between the Telecom Regulatory Authority of India (TRAI) and Telecommunication Regulatory Commission of Sri Lanka (TRCSL). The deal was signed during a visit to the […]
Sri Lanka small leisure firms on show
Jan 17, 2012 (LBO) – Sri Lanka’s small leisure sector players including many start-ups will showcase their services at an industry fair on January 31, where they can link up with larger players, officials said. “A large number of small guest houses, restaurants have come up in many areas some in very beautiful locations but […]
Sri Lanka Softlogic to build luxury resort on east coast
Jan 17, 2012 (LBO) – Sri Lanka’s Softlogic Holdings group plans to build a luxury resort on the island’s east coast with an investment of 200 million rupees in deal with Ominga International, a statement said. The company entered into a shareholders’ agreement with the shareholders of Ominga International (Private) Limited on January 13, 2012 […]
Credit Trend
Jan 17, 2012 (LBO) – Sri Lanka’s credit to business from commercial banks rose to a new historic high of 63. 2 billion rupees in November helped by liquidity injections to offset foreign exchange interventions, official data showed. In the 12-months to November 2011, credit to business grew 33.5 percent to 1,945.7 billion rupees against […]