Category: Industry
Swisstek profit +25% in 3 months to June
July 27, 2015 (LBO) – Sri Lankan based Swisstek (Ceylon)’s group net profit showed a 25 percent increase to 28.9 million rupees for the three months ended June 2015, interim report said.The manufacturer of tile grout, tile mortar and decorative pebbles said revenue rose 44 percent to 509 million rupees from 354 million rupees in […]
Sri Lanka’s banking Industry should adopt new tech before it gets isolated: Aravinda Perera
July 27, 2015 (LBO) – Sri Lanka’s banking industry should make use of digital technology to improve customer service and to be on par with the competitive global payment industry, one of its banking leaders said. In today’s world it is not only a bank playing in the payment industry but also telcos, supermarkets and […]
Sri Lanka’s President to appoint special investigation commission on Golden Key
July 24, 2015 (LBO) – Sri Lanka is to appoint a special investigation commission to probe irregularities occurred in the Golden Key Company, President Maithripala Sirisena said.“I decided to appoint a special investigation commission headed by a retired judge on Golden Key Company after having discussions with Prime Minister and Finance Minister,” Sirisena told a […]
MAS in chemical leasing arrangement for waste water treatment
July 24, 2015 (LBO) – MAS Active Linea Intimo announced it has entered into a chemical leasing arrangement for waste water treatment, a world’s first for the industry, according to the garments manufacturer. Chemical leasing is a business model in which a chemical is leased from a company providing its service. MAS Active Linea Intimo […]
Sri Lanka Customs to get modern container scanning facility; dock yard for Hambantota Port
July 23, 2015 (LBO) – Sri Lanka’s cabinet has approved a proposal to install a modern container scanning system at Sri Lanka Customs with the view of improving the efficiency and productivity of Customs.The proposal has been made by Finance Minister Ravi Karunanayake to implement the system through a partnership with the private sector.Sri Lanka […]
Sri Lanka’s Janashakthi Insurance names Esufally as deputy Chair
July 23, 2015 (LBO) – Sri Lanka’s Janashakthi Insurance has appointed Husein Esufally as its new Deputy Chairman and director of the company and Jude Fernando as Chief Executive Officer, a statement said. “Janashakthi Insurance has appointed well-known corporate leader Husein Esufally to a new position as Deputy Chairman and a non-executive independent director with […]
Sri Lanka’s exports flat in May while imports up: Central Bank
July 22, 2015 (LBO) –Sri Lanka’s exports earnings recorded a marginal decline of 0.1 per cent, year-on-year, to 883 million US dollars in May 2015, led by lower performance in tea, sea food, gem, diamond and jewellery exports, and the Central bank said. Earnings from industrial exports increased by 3.3 per cent to 661.3 million […]
Sri Lanka stocks close up 0.8-pct
July 22, 2015 (LBO) – Sri Lanka’s stocks closed up 0.76 percent on Wednesday with index heavy stocks showing gains, brokers said. The Colombo benchmark All Share Price Index closed 54.04 points higher at 7,199.63 up 0.76 percent. The S&P SL20 closed 42.86 points higher at 4,037.83 up 1.07 percent. Turnover was 1.62 billion rupees, […]
EU team due in October to assess requirements for lifting fishing ban: USD 75mn loss so far
July 22, 2015 (LBO) – A delegation from the European Union is due to arrive in Sri Lanka in October to assess the progress made by the Sri Lankan government in order to lift a fishing ban imposed earlier, a foreign Ministry official said.“A technical evaluation mission from the EU is to come to Sri […]
Sri Lanka’s 2.5mn tourist arrivals target by 2016 not likely: Report
July 22, 2015 (LBO) – Sri Lanka will not be able to lure 2.5 million tourists by 2016 as claimed by the previous government, a recent industry report said. “Achieving 2.5 million tourists by 2016 is not a pragmatic goal,” Bartleet Religare Securities (BRS) said in a report.“For the country to reach 2.5 million visitors […]
Disruptive Innovation, A challenging wave for organizations and leaders
July 21, 2015 (LBO) – Innovation can disrupt an organization, creating a new set of challenges to the leadership which some traditional companies are not aware of even, an official said. “This might completely dislodge you from your present industry,” Deepal Sooriyarachchi, Commissioner and Chairman of Sri Lanka Inventors Commission said. “And some of the […]
Sri Lanka lacks effective grading system for tourist accomodation
July 21, 2015 (LBO) – Sri Lanka’s tourism industry needs a standardized grading system for tourist accomodation, which indicates the minimum requirements of service standards, a recent industry reportays. “The industry needs a standardized grading system that spells out the minimum requirement of service standards to ensure safety and comfort of the establishments and guests,” […]