Category: Industry
Sri Lanka up five notches in Global Competitiveness Report
Oct 02, 2015 (LBO) – Sri Lanka has moved up five ranks to 68 from 73 in a global index of the world’s most competitive economies for the year 2015-16.The Global Competitiveness Report 2015-2016 assesses the competitiveness of 140 world economies.The report, which serves as a reference point for investors worldwide, comes in a year […]
Amalgamated DFCC Bank starts operations today
Oct 01, 2015 (LBO) – Amalgamated DFCC Bank has officially kick-started its commercial operations from today on-wards after receiving the approval from the registrar general on Thursday.The Bank has received the Certificate of Amalgamation in terms of Section 244 (1) (a) of the Companies Act.Accordingly, the DFCC Vardhana Bank has been amalgamated with DFCC Bank […]
‘s smartphone market
Oct 01, 2015 (LBO) – HTC, a mobile phone manufacturer entered the Sri Lankan market with a portfolio of smartphones, a statement said. “We are pleased to launch our smartphones in the Sri Lankan market,” Faisal Siddiqui, President, HTC South Asia said. “All the HTC devices are stunning, intuitive and advanced in technology. Our new HTC desire […]
2015 most dangerous celebrities in the world
Oct 01, 2015 (LBO) – Intel Security has recently conducted a study using McAfee Web Advisor to determine the number of risky sites that would be generated in search results including a celebrity name and commonly searched terms. Intel Security refers to these stars as the Most Dangerous Celebrities, meaning that they are likely popular […]
Textured Jersey to offer share options to employees
Sept 30, 2015 (LBO) – Sri Lanka’s Textured Jersey Lanka says it will implement an employee share option scheme (ESOS) for directors and selected executives in management positions, in a stock exchange filing. The total number of shares to be issued, if all of the share options are exercised in full, amounts to 27 million […]
Sri Lanka’s exports and imports both declined in July 2015: Central Bank
Sep 29, 2015 (LBO) – Sri Lanka’s exports earnings recorded a decline of 2.6 per cent, year-on-year, to 932 million US dollars in July 2015, reflecting a year-on-year decline in both industrial and agricultural exports.“Exports of all sub categories of industrial sector, except transport equipment, petroleum products and animal fodder, declined in July 2015, owing […]
Private health care driven by aging population and rising income: Fitch
Sep 28, 2015 (LBO) – Sri Lanka’s private hospitals are poised for strong growth, with the rise ageing population and rising per capita income, a report said.“Nearly nine percent of the islands population are over 65 years of age and over at end 2014 and likely to double by 2030 and the public sector alone […]
US, next possible big source market for Sri Lanka Tourism– Analyst
Sep 29, 2015 (LBO) – Sri Lanka should attract more US tourists, making use of the geographical position of the island near to India, in which the US is the top key arrivals generator, an analyst said.“India can be the number one source market for Sri Lanka, because they are geographically located closer,” Shabori Das, […]
Sri Lanka’s tourism should integrate economy to drive growth: Hotelier
Sep 28, 2015 (LBO) – Sri Lanka’s tourism industry which is booming post-conflict should ideally integrate the economy in to the sector to drive sustainable tourism though economically viable products, an hotelier said. “In all our efforts we should strive to integrate the economy to the industry, so that we have authentic, sustainable tourism products […]
Sri Lanka luxury property market under threat: OBG
Sep 28, 2015 (LBO) – Sri Lanka’s high end residential property market is at a possible risk as supply is set to overtake demand, a recent real-estate update by the Oxford Business Group said. The supply of luxury apartments in the commercial capital could reach 6000 units by 2018-19, according to a recent report by […]
Sri Lanka’s island-wide blackout a technical fault: CEB
Sep 28, 2015 (LBO) – Sri Lanka’s Power Minister Ranjith Siyambalapitiya has ordered CEB to investigate the reason behind the island wide power failure experienced last midnight.CEB Chairman Anura Wijepala told LBO that the investigation is currently underway.“It happened last midnight. However by 4’o clock in the morning we restored the power supply.” Wijepala said. […]
Sri Lanka’s dream as a Maritime Hub has associated challenges
Sep 28, 2015 (LBO) – Sri Lanka’s first ever international maritime conference concluded over the weekend leaving policy makers an array of thoughts on how to transform the island into a Maritime Hub. The country legislated Colombo and Hambanthota ports as Free Ports two years ago but criticism over its prologue echoed at the recently […]