Category: Industry
UNDP, Dialog launch hackathon for social development
Aug 30, 2015 (LBO) – UNDP and Sri Lanka’s Dialog Ideamart have launched a social innovation “hackathon” to find solutions to development challenges in employment and enterprise, electronic waste management, and civic engagement.Around 250 people attended the “HackaDev: Impact through Innovation” event last week.The audience comprised of university students and developers studying IT, employees of […]
Brandix allocates Rs5 mn for each model village in CSR project
Aug 27, 2015 (LBO) – Sri Lankan apparel exporter Brandix says it plans to allocate five million rupees for each ‘model village’ it supports with improved water supply and sanitation facilities under its corporate social responsibility program.The villages are selected within a five kilometre radius of its factories, initially in Polonnaruwa. The program has contributed […]
Austrian Airlines to start winter flights to Sri Lanka
Aug 27,2015 (LBO) – Austrian Airlines, the country’s largest carrier which operates a global route network of round 130 destinations is to add Sri Lanka to their destination map from October this year offering flights once a week to Colombo, the company said in a statement.The airline’s route network is particularly dense in Central and […]
Sri Lanka banks eye market-driven consolidation : OBG
By Oxford Business Group The coming year looks set to bring further consolidation to Sri Lanka’s financial sector, with market forces expected to drive the trend, in lieu of the government-led policy of the previous administration. Last year saw the industry regulator, the Central Bank of Sri Lanka (CBSL), take steps to bolster the sector’s […]
Samsung launches Galaxy A8, smartphone sales grow 150 pct
Aug 26, 2015 (LBO) – Samsung launched its newest Galaxy A8 model in Sri Lanka on Tuesday amid significant growth in demand for smartphones, an offical said. The Galaxy A8 is the latest member of the Galaxy A range with 4G LTE compatibility, a 1.8/1.3 GHz Octa Core processor and its slimmest with a width […]
Sri Lanka foreigners to pluck more tea for Guinness Record
Aug 25, 2015 (LBO) – Sri Lanka will aim for a Guinness Record this week by having 3,000 kilograms of tea plucked with the help of 200 foreigners before serving 35,000 cups of tea at the Esala Perahera procession, tourism promotion office said.The event at Pedro Estate in the Central Province hill country of Nuwara […]
Fitch affirms Standard Chartered Bank, Sri Lanka Branch at AAA
Aug 25, 2015 (LBO) – Sri Lanka’s Fitch Ratings has affirmed Standard Chartered Bank, Sri Lanka Branch’s National Long-Term Rating at ‘AAA(lka)’ with a stable outlook.The full text of the rating announcement is reproduced below. Fitch Ratings-Colombo-24 August 2015: Fitch Ratings Lanka has affirmed Standard Chartered Bank, Sri Lanka Branch’s (SCBSL) National Long-Term Rating at […]
Malaysia Trade Corp to fund infrastructure projects in Sri Lanka
Aug 25, 2015 (LBO) – The Malaysia External Trade Development Corporation (MATRADE) is to fund infrastructure projects in Sri Lanka through Malaysia’s EXIM bank, an official said.MATRADE is ready to work with Sri Lanka in the areas of property development, monorail, railway infrastructure development, port operations, real estate, and constructions of resorts.“The funding into projects […]
Sri Lanka appoints three cabinet ministers
Aug 24, 2015 (LBO) – Three cabinet ministers took oaths before the President of Sri Lanka ahead of a full cabinet due to be sworn in on Tuesday.Mangala Samaraweera took oaths as the Minister of Foreign Affairs, Wijeyadasa Rajapakshe as Minister of Justice and D.M. Swaminathan as Minister of Rehabilitation.The ceremony to for the rest […]
President offers Sri Lankan High Commissioner post in UK to Sangakkara
Aug 24, 2015 (LBO) – Sri Lanka’s cricketing legend Kumar Sangakkara on Monday was offered the High Commissioner post in the UK by President Maithripala Sirisena with him stepping down from international test cricket.“We don’t know what he thinks but we request him to accept Sri Lankan High Commissioner Post in the UK,” President Sirisena […]
Sri Lanka to ink trade promotion MoUs with Hong Kong, Thailand and Korea today
Aug 24, 2015 (LBO) – Sri Lanka will sign three memorandums of understanding with Hong Kong, Thailand and Korea on Monday to boost regional trade, the Export Processing Board said. The board said Sri Lanka-Hong Kong’s HKTDC, Sri Lanka-Korea’s KOTRA and Sri Lanka-Thailand’s DITP are the three MoUs scheduled to be sign today. The signing […]
Solar power becomes more competitive, investments rise in India, US
24 Aug, 2015 (LBO) – Solar power has become competitively priced in electricity markets and large investments are on the rise. India’s Madhya Pradesh announced on Sunday plans to host the world’s largest solar power station with a capacity of 750 megawatts.“Global tenders for commissioning the solar power station in an area over 1,500 hectares […]