Category: Industry
Commercial Bank Bangladesh rated AAA: CRISL
July 16, 2015 (LBO) – Sri Lanka’s Commercial Bank, Bangladesh accorded AAA long-term credit rating by Credit Rating Information and Services (CRISL), a statement said. The full statement follows The AAA (Triple A) long-term credit rating accorded to the Bangladesh operations of Commercial Bank PLC has been reaffirmed by Credit Rating Information and Services Ltd […]
Sri Lanka lacks high-end shopping malls to attract affluent travelers: Report
July 15, 2015 (LBO) – Sri Lanka still lacks malls that can give its high-end tourists the holistic retail experience, despite the growth in retail options in the Island, a recent report said.“Despite the growth in retail options the city still lacks high-end shopping malls to entice the affluent travelers by providing them a holistic […]
Sri Lanka’s online property portal ‘Lamudi’ launches its first real estate magazine
July 15, 2015 (LBO) – Sri Lanka’s online property portal ‘Lamudi’ has launched the first issue of its real estate magazine ‘Property Now’, the company said.The quarterly magazine consists of the latest real estate market report, trends in the real estate industry, home tips, current developments, changes in the digital market and other pertinent topics.Though […]
Sri Lanka’s People’s Merchant Finance removes CEO
July 14, 2015 (LBO) – Sri Lanka People’s Merchant Finance, a subsidiary of People’s Bank of Sri Lanka said it removed the Chief Executive Officer and director of the company following a directive of Monetary Board. The company said, that in term of section 25(1) (h) of the Finance Business Act, the Monetary Board has […]
Sri Lanka restricts mobile phone services at Yala national park
July 14, 2015 (LBO) – Sri Lanka restricts mobile phone services at Yala national park to minimise the danger from rushing safari vehicles to show animals to visitors. Yala is one of the busiest national park in the Island but, also a unique conservation site for leopards and other threatened fauna and flora. The park […]
‘s entry fees higher than region: Report
July 14, 2015 (LBO) – Sri Lanka’s tourist attractions entry fee charge between local and foreign visitors is higher when compared to other countries in the region, a recent report said.“Along with regional countries such as Malaysia, Thailand and China, Sri Lanka too charges a two-tier price system whereby foreigners are charged a higher price,” Bartleet […]
Sri Lank tourism infrastructure still has visible gaps: Report
July 13, 2015 (LBO) – Sri Lanka has to continue to invest in improving domestic transport and air connectivity in order to realize the full potential of the industry, a report by a stockbroker said. “At present Sri Lanka’s road network is improving at a slow but steady pace with some of the key areas […]
Sri Lanka’s Hambantota Port first phase, a burden of USD51mn per year: SLPA
July 13, 2015 (LBO) – Sri Lanka’s government had to pay 51 million US dollars per year as loan repayments for the first phase of the Hambantota Port, Sri Lanka Ports Authority said. The first phase of the Port commenced in 2007 and incurred over 500 million US dollars while 90 percent of which was […]
Sri Lanka needs more value added tea exports; brew only 4-pct locally: EDB
July 10, 2015 (LBO) – Sri Lanka needs to look at higher value additions in tea and the current value additions are not giving the required value addition levels, the head of EDB said. Bandula Egodage, the chairman of Export Development Board said a whopping 96 percent or 325 million Kilograms of Pure Ceylon Tea leave […]
Sri Lanka Tourism aggressively promote Disney’s “Monkey Kingdom” in China
July 10, 2015 (LBO) – Sri Lanka Tourism said that it will aggressively promote Sri Lanka in the Chinese market by launching Disney’s epic “Monkey Kingdom” in Shanghai, China.The Tourism Promotion Bureau says, as at last week Monkey Kingdom box office sales was at 16.7 million dollars in the US market. “We are also pursuing […]
Indian Cricket Team to tour Sri Lanka for three Test matches
July 10, 2015 (LBO) – Sri Lanka Cricket and India Cricket Board on Thursday confirmed the schedule of India’s tour to Sri Lanka in August-September 2015.The tour will start with a three-day warm-up game against Sri Lanka Chairman’s XI, followed by three Test matches. The Test matches will be played at Galle, Tamil Union Oval, […]
NWSDB to improve pipe water facility with Rs3.5 bn investment
July 9, 2015 (LBO) – Sri Lanka’s cabinet of ministers have given approval for National Water Supply and Drainage Board to obtain a loan facility of 3449 million rupees to implement 22 water supply projects, cabinet spokesman said.The loan will be taken from Bank of Ceylon.The proposal was made by Minister Rauf Hakeem to issue […]