Category: Industry
Fuel prices increased but no room to increase transport charges: Finance Ministry
Feb 11, 2019 (LBO) – Government today revised the fuel prices and accordingly the prices of one liter of Petrol Octane 92 and the Auto Diesel have been increased by 6 rupees and 4 rupees respectively.The Finance Ministry said according to the latest international market price of crude oil, the price of diesel should have been […]
BOI signs deal with Bellevue to build tallest building outside Colombo district
Feb 11, 2019 (LBO) – Sri Lanka’s BOI has signed an agreement with Bellevue Residencies Private Limited to build a mixed development project for a 35-storey Tower and shopping complex.“It will be constructed in Ja-Ela and it is the first time that such a high-rise tower is built outside the city of Colombo,” the BOI […]
Hemas 3Q profits up 50-pct primarily driven by seasonal demand for Atlas
Feb 08, 2019 (LBO) – Profit attributable to the equity holders of Hemas Group has reported a 50 percent growth primarily due to the strong performance at Atlas, during the third quarter. The quarter recorded a revenue and operating profit of 18.0 billion rupees and 1.9 billion rupees, a YoY growth of 46.8 percent and 92.6 […]
UK based Flexicare sings up with BOI to manufacture disposable medical devices in Sri Lanka
Feb 08, 2019 (LBO) – Flexicare (Group) Limited, a UK manufacturer has gained BOI approvals to begin laying the foundation for its newest state of the art manufacturing facility in Sri Lanka. The project which will be located in Bandaragama is expected to represent an investment in excess of U$10,000,000 over the course of the […]
Teejay reports 9-month net profit of Rs 1.26Bn
Feb 08, 2019 (LBO) – Teejay Lanka PLC has achieved its fifth consecutive quarter of top and bottom line growth in the third quarter of 2018-19, demonstrating its resilience during a period of higher raw material and utility costs. Reporting revenue of Rs 23.0 billion for the nine months ending 31st December 2018, a growth […]
Haycarb records turnover of Rs.14.3Bn for 9 months ending Dec
Feb 07, 2019 (LBO) – Sri Lankan multinational Haycarb PLC reported revenue of Rs. 14.3 billion and profit before tax of Rs. 854 million for the nine months ending 31st December 2018. The profit after tax stood at Rs. 672 million. Haycarb PLC Managing Director, Rajitha Kariyawasan said that the growth in turnover is attributable to […]
Central Bank requests customers to use EMV enabled cards for ATM transactions
Feb 06, 2019 (LBO) – Sri Lanka’s Central Bank requests customers to use EMV enabled payment cards for ATM transactions to strengthen the security of these transactions. The EMV enabled cards carry an electronic chip which is visible at the front of the card. If the card used by a customer is not EMV enabled, […]
Sri Lankan Tourism; All That Glitters Is Not Gold
Tourism in Sri Lanka was said to have reached an all-time high last year with a staggering 2.2 million tourists visiting the country. While news articles widely publicized this never before seen rate, little did anyone pay attention to return in investment and surge in local sales brought by these tourists. Most of the tourists […]
Commercial Bank enables online payment of Ports Authority charges
Feb 06, 2019 (LBO) – Commercial Bank of Ceylon has added the Sri Lanka Ports Authority to its online banking platform, enabling customers to pay their Ports Authority charges in respect to their shipping requirements from anywhere, anytime. To use this online payment option, customers have to key in their 14 digit invoice number issued […]
Kishu Gomes appointed Chairman of Sri Lanka Tourism Development Authority
Kishu Gomes will be officially appointed as the Chairman of Sri Lanka Tourism Development Authority and Sri Lanka Tourism Promotion Bureau today, Tourism Development Ministry said. Accordingly, Minister John Amaratunga is to present the letter of appointment to him this afternoon.
Opinion: Sri Lanka’s Quest for a Rules-based Indian Ocean
February 6, 2019 (LBO) – Sri Lanka’s Quest for A Rules-based Indian Ocean Dr. Ganeshan Wignaraja and Dr. Dinusha Panditaratne* The evolution of Sri Lanka’s foreign policy since the election of a unity government on 8 January 2015 merits interest. Changes include the country’s engagement with a wider range of international partners, as well as […]
LankaClear says their payment network has not been compromised
Feb 05, 2019 (LBO) – Operator of Sri Lanka’s national payment network, LankaClear assures the general public that their payment network, LankaPay has not been compromised as it is fully secured adhering to international PCI-DSS security standard. The Payment Card Industry Data Security Standard (PCI DSS) is an information security standard for organizations that handle […]