Category: Industry
Export Barriers
Jan 02, 2012 (LBO) – Sri Lanka’s fast-growing information communications technology (ICT) industry faces difficulties in hiring skilled staff, finding good office space and accessing fast Internet links, a survey has found. “Poor country visibility as an IT destination, absence of up-to-date technology, and time consuming procedures to obtain services from institution such as the […]
Mobile Momentum
Jan 02, 2011 (LBO) – Household access to telephones is on par with electricity, television, and radio in Sri Lanka mainly because of the boom in mobile phones, and are set to overtake TV and radio, a new study said. “The key economic benefit of phones is reducing travel,” it said, noting that there was […]
Sri Lanka among top destinations for 2012: Conde Nast Traveller
Jan 02, 2012 (LBO) – Sri Lanka has been named among the top destinations for 2012 by Conde Nast Traveller, a popular travel magazine after former war-torn areas were opened to tourists. Sri Lanka’s West Coast resorts are popular during the European Winter season when the Eastern coast is hit by a monsoon season. The […]
Milestone Machine
Jan 02, 2012 (LBO) – Sri Lanka’s Commercial Bank has connected its 500th automated teller machine as it rapidly expands its network, adding 100 terminals in the past five months or at a rate of 20 a month on average. The newest ATM was opened at Maradana Railway Station in Colombo, under a bank project […]
Sri Lanka electronic visa system starts
Jan 01, 2012 (LBO) – Sri Lanka has ended a free visa on arrival scheme from today with an electronic authorization system coming online, but anyone who arrives without an e-visa will be able to buy one for 50 dollars, a media report. Sri Lanka gave free visa on arrival to a number of countries […]
Sri Lanka to get US800mn tourism project from South Africa: report
Dec 31, 2011 (LBO) – South Africa’s Sun City gaming and resort group will invest 800 million dollars in the biggest ever leisure development in Katana, north of the capital Colombo the island, a media report said. “Sun City of South Africa is now going to make an 0 million investment in a 200-acre private […]
Sri Lanka expects US$850mn from tourism in 2011
Dec 30, 2011 (LBO) – Sri Lanka expects to earn 850 million US dollars from tourists in 2011 with annual arrivals expected to reach 830,000 an increase of 26 percent from a year earlier and the industry targeted a billion dollars next year, officials said. But an electronic visa process, which is promised to be […]
Director Stakes
Dec 30, 3011 (LBO) – Dinesh Weerakkody, has been appointed chairman of Commercial Bank of Ceylon after Mahendra Amarasuriya its highly respected long time chairman stepped down due to a now controversial central bank rule. Former Central Bank deputy governor Dharma Dheerasinghe was appointed deputy chairman, an official said. Amarasuriya stepped down despite a court […]
Rate War
Dec 30, 2011 (LBO) – Stiff competition among major container shipping lines that has cut freight rates is likely to continue next year, helping Sri Lankan shippers facing a slowdown in demand in key markets, trade officials said. Alphaliner said recent realignments among big shipping lines with vessel sharing and slot exchange deals meant to […]
Knowledge Export
Dec 30, 2011 (LBO) – Sri Lanka’s information communications technology (ICT) industry is focusing more on value added software products and knowledge services where profits are higher, officials said. Over half the firms in the sector are building and exporting software products rather than providing services such as low-end call centres, they said. The services […]
Sri Lanka renewable energy use grows
Dec 29, 2011 (LBO) – Non-conventional renewable energy use has grown sharply this year, accounting for the fastest growth among the different sources of energy in the island, according to latest central bank data. Non-conventional renewable energy mainly consists of hydro- , wind, solar and biomass. Most non-conventional hydro-power in Sri Lanka comes from small […]
Value Exports
Dec 29, 2011 (LBO) – Sri Lanka’s earnings from information communications technology (ICT) services and products grew strongly this year after rising sharply last year, officials said. ICT and BPO (business process outsourcing) exports shot up 47 percent to 310 million US dollars in 2010-11 from the year before and will remain strong, a new […]