Category: Industry
Sri Lanka vehicle prices to increase with new customs valuation basis
Oct 08, 2015 (LBO) – Sri Lanka’s finance minister has signed an extraordinary gazette to change the basis on which customs calculates the value of certain motor vehicles, and prices of some vehicles may increase by almost 50 percent, car dealers said.With this order the actual transacted FOB value of the vehicle has been excluded […]
Microsoft unveils its first ever laptop, Surface Book
Oct 07, 2015 (LBO) – Microsoft today unveiled its first ever laptop, the Surface Book as part of its new product package designed especially for windows 10. Surface Book is a powerful laptop combining a 6th Gen Intel Core i5 or i7 processor with up to 16GB of memory and an optional discrete graphics chip. […]
Technology changing the face of travel bookings, Sri Lanka should be more concerned
Oct 7, 2015 (LBO) – Sri Lanka tourism sector needs to look into travel booking platforms using internet and mobile technology to attract more visitors to the island, an analysts told a forum held in Colombo. “One of the consumer surveys that we did shows that foremost of any travel booking is use of internet,” […]
Turkey keen on opportunities in Sri Lanka, Room for joint trade and investment
Oct 06, 2015 (LBO) – Sri Lanka and Turkey have scope to increase bilateral economic and trade relations with room for joint trade investments, says Tunca Ozcuhadar, the ambassador of Turkey said in a statement. “We would like to enhance our relations with Sri Lanka which is already excellent,” Ozcuhadar said. “Still, there is great […]
RBI Governor in Colombo say US hike delayed amid slow growth
Oct 06, 2015 (LBO) – The Reserve Bank of India Governor Raghuram Rajan says those who were betting on a September U.S. rate hike now see it delayed until March, amidst weaker economic data. The RBI governor was speaking at the 65th Anniversary Oration of the Central Bank of Sri Lanka in Colombo on Monday. […]
Trans-Pacific Partnership agreement reached following tough negotiations
Oct 06, 2015 (LBO) – The United States and 11 Pacific Rim countries inked a trade deal that cuts trade barriers marking the end of five years tense negotiations, foreign media reports said. The agreement reached on Monday defines the rules of the road for trade in the Asia-Pacific region. TPP will encourage trade between […]
Sri Lanka needs balanced approach to urbanization: Min. Ranawaka
Oct 06, 2015 (LBO) – Sri Lanka’s challenge is how to achieve a pace and pattern of urban development that is beneficial to people and how to make a balanced approach to urbanization, Minister Champika Ranawaka said. “Urbanization has both positive and negative impacts on society,” the Minister of Megapolis and Western Development said. “It […]
Q&” grade commercial property
Oct 06, 2015 (LBO) – Apartment complexes have had a strong hand in shaping the skyline of Colombo with the island’s real estate and construction industry sectors presently experiencing a boom. The key market drivers remain the luxury condominium market which has picked up within the last year. However, experts warn that buying by expatriate […]
SriLankan flights on-time performance among top 16 airlines
Oct 05, 2015 (LBO) – SriLankan Airlines’s flights on-time performance in August has been ranked 16 out of 50 international airlines rated by a global flight data service. The Airline has recorded an on-time performance of 85.26 percent of its flights in August 2015 and not far off that of the 91.48 percent of first […]
Sampath Bank to raise Rs7bn from listed debenture
Oct 05, 2015 (LBO) – Sri Lanka’s commercial bank sector player Sampath Bank is to raise 7.0 billion rupees from a listed debenture issue, the bank said in a stock exchange filing. Sampath Bank has decided to issue 50 million debentures at 100 rupees each with an option, to issue up to a further 20 […]
Sri Lanka’s proposed finance bill discourages private sector investment: CCC
Oct 05, 2015 (LBO) – Sri Lanka’s Finance Bill of March 2015 sends negative signal to the private sector and discourages investment, the Ceylon Chamber of Commerce (CCC) said in a statement, Sunday. “ The CCC believes that the Finance Bill of March 2015, presented to Parliament recently sends a negative signal to the private […]
Tourist arrivals up 36-pct driven by arrivals from India and China
Oct 04, 2015 (LBO) Sri Lanka’s tourist arrivals rose to 143,374 visitors, up 35.9 percent in September 2015 from a year ago, a statement said.Arrivals for the nine months to September were up 17.1 percent to 1,315,839 from a year ago, the latest tourism data shows. In September India arrivals rose 41.5 percent to 27,233 while Chinese […]