Category: Industry
Asia Tourism Investment Conference in Nov gathers momentum
Oct 17, 2016 (LBO) – The inaugural Asia Hotel and Tourism Investment Conference in November in Colombo will be an influential gathering for the region focusing on challenges and opportunities in the hotel and tourism industries, the organizers said. Hot topics are likely to include land ownership, impediments to raising finance and shortage of talent. […]
New opportunities for Sri Lankan companies in India
Oct 17, 2016 (LBO) – There are new opportunities for Sri Lankan companies in India, with several internal changes going on in the country, an official of a visiting Indian business delegation said. “Within India, there are so many economic changes that could be advantageous for Sri Lanka. What is important is that this is […]
Sri Lanka’s Commercial Bank to raise Rs7bn from listed debenture
Oct 14, 2016 (LBO) – Sri Lanka’s Commercial Bank is to raise 7.0 billion rupees from a listed debenture issue, the bank said in a stock exchange filing. The bank has decided to issue rated, unsecured, subordinated, redeemable debentures worth 5.0 billion rupees with an option to go up to 7.0 billion rupees. The proposed […]
Verizon may renegotiate Yahoo deal after data breach
Oct 14, 2016 (LBO) – Verizon Communications Inc. may renegotiate its 4.8 billion dollar deal for Yahoo Inc. following the internet company’s recent disclosure of a data breach that affected more than 500 million accounts. Verizon’s General Counsel Craig Silliman said it was reasonable to believe that the breach represented a material event that could […]
Ravi Karunanayake complains to CID over fake social accounts
Oct 14, 2016 (LBO) – Finance Minister Ravi Karunanayake has complained to the CID that fake facebook and twitter accounts have been carried out in his name. The accounts are under the names of Ravi Karunanayake Lanka Intelligence and Ravi Karunanayake @RavikOfficial. “I have no connections whatsoever with these two pages which publishes news detrimental […]
FDI key for trade and export growth: Chinese Minister
Oct 13, 2016 (LBO) – Foreign direct investment (FDI) plays a very important role for a country to develop its trade and export growth, a senior Chinese official said. “FDI is important for trade growth as it brings money, technological advantages and the latest management ideas which drive indigenous and innovative growth,” Wang Shouwen, Vice […]
Sri Lanka to provide adjustment package for FTA trade disruption
Oct 13, 2016 (LBO) – Sri Lanka will introduce a trade adjustment package for local industrialists in order to face possible trade disruptions that may occur during the initial stages of upcoming free trade agreements, a senior minister said. International Trade Minister Malik Samarawickrama said they are negotiating new FTAs with an open mind but […]
‘s Belluna in USD 50mn real-estate project
Oct 12, 2016 (LBO) – Sri Lanka’s Asia Capital and Japanese Belluna company announced the launch of an apartment development project with an investment of 50 million US dollars in Colombo, Wednesday. “This joint project cements the strong bond that both companies have in creating a new paradigm in local and foreign joint venture projects […]
Social, environmental considerations a must in trade: World Export forum
Oct 12, 2016 (LBO) – Trading countries should look at multilateral levels with regional trade agreements alongside transformation in investment, trade and services, an official said at the World Export Development Forum in Colombo on Wednesday. “The trade agreements of the 21st century must respond to the economic and social realities of the century,” said […]
Sri Lanka GSP plus talks to commence in Brussels: PM
Oct 12, 2016 (LBO) – Sri Lankan premier Ranil Wickremesinghe said that he will be traveling to Brussels shortly for the Generalized System of Preferences (GSP) plus negotiations. “I am traveling to Brussels on Saturday to begin talks on restoring GSP plus,” Wickrememsinghe said at the inauguration of the World Export Development Forum in Colombo, […]
Asian Alliance changes name to Softlogic Life Insurance
Oct 11, 2016 (LBO) – Shareholders of Asian Alliance Insurance today approved a special resolution to change its name into Softlogic Life Insurance, the company said in a stock exchange filing. The move comes after Asian Alliance Insurance sold its stake in Asian Alliance General Insurance business. On 24th June 2016, the company agreed to […]
Asian shares mixed, oil jumps on output curb expectations
SINGAPORE, Oct 11 (Reuters) – Asian shares were mixed in early Asian trading on Tuesday after oil prices surged to a one-year high and optimism over Hillary Clinton’s widening lead in the U.S. presidential election campaign pushed Wall Street higher. Brent crude rose to as high as $53.73 on Monday, the highest level since Oct. […]