Category: Industry
Sri Lanka to limit water supply, Colombo consumption up
Oct 10, 2016 (LBO) – Sri Lanka’s Water Supply and Drainage Board has decided to limit its pump water supply in the island due to the prevailing drought condition amid increased consumption. K Alahudeen Ansar, chairman of the board, told LBO that water consumption in the Colombo District alone has increased by about 15 percent […]
Sri Lanka has too many telcos, 2017 to be transformative year: Harin
Oct 10, 2016 (LBO) – Sri Lanka’s Minister of Digital Infrastructure and Telecommunication says that the island needs to look at ways of reducing it’s telecommunication providers as it is over crowded. “We have five companies in Sri Lanka which is too much,” Harin Fernando, Minister of Digital Infrastructure and Telecommunication said. “We are trying to look at ways […]
Expo paves way for faster subcontinent cross border logistics
Oct 10, 2016 (LBO) – Expo Freight says it has achieved a significant milestone in cross border trade in the Indian subcontinent after a shipment for Marks & Spencer crossed over seamlessly to India from Bangladesh, following a trading agreement. This is the first occasion a truck carrying cargo was allowed to cross over to […]
JICA to help plan Kandy development with UDA
Oct 10, 2016 (LBO) – The Urban Development Authority of Sri Lanka and Japan International Cooperation Agency (JICA) will enter into technical cooperation to formulate the urban development environment of Kandy. JICA will support with detailed urban plans, urban design guidelines, regulations to protect heritage city areas, sustainable systems and strategic investment proposals to implement […]
‘s Elephant House pours soft drinks into Europe
Oct 07, 2016 (LBO) – Sri Lanka’s iconic Elephant House has signed up with a UK-based bottling facility for the production of 1.5 litre PET plastic variants of its much-loved Necto, Cream Soda and Orange Barley beverages. With a view to increase exports into the European market, this bottling deal immediately targets expansion into key […]
‘s ministries should be aligned to be more effective
Sep 30, 2016 (LBO) – Sri Lanka’s budget allocations for national road development are high, but it needs to be attuned to needs, and ministries should be properly allocated, a senior official said. “The problem is that we have fragmented systems, especially transport and highways are two different ministries so it is very difficult for […]
Sri Lanka’s Central Bank allows foreign investors full control: CIFL
Sep 29, 2016 (LBO) – Sri Lanka’s troubled Central Investment and Finance Company says the Monetary Board has assured that investors would get 100 percent control once the proposed investment materializes. Clarifying a newspaper report, CIFL said that such intervention would be subject to other circumstances of the mechanism of proposed investment. The investors have […]
Sri Lanka lube market grows 6.8-pct in 2015: report
Sep 29, 2016 (LBO) – Sri Lanka’s lubricant market has grown by 6.8 percent to 23.4 billion rupees in 2015, with 10.1 percent growth in automotive and 7.7 percent increase in industrial lube, the lubricant market report 2015 showed. The report compiled by its regulator Public Utilities Commission, however, said the marine lubricant market has […]
One in four Sri Lankan households own a computer: survey
Sep 29, 2016 (LBO) – At least one computer is available in 24 percent of households in Sri Lanka, in urban as well as rural areas, the Department of Census and Statistics said in its Computer Literacy report for 2015. “That is about one out of every four households owns either a desktop or a […]
Blackberry ends manufacture of iconic smartphone
Sept 29, 2016 (LBO) – BlackBerry says it will no longer manufacture the iconic smartphone and will instead outsource the function to partners. BlackBerry CEO John Chen said the company will prioritize software development, including apps and security. “We are reaching an inflection point with our strategy,” Chen said. “Our financial foundation is strong, and […]
US based BlackRock shows interest in Srilankan airlines: Minister
Sep 28, 2016 (LBO) – Two global investment managers, US based BlackRock and TPG Capital, have shown interest in crisis-hit SriLankan Airlines which is looking for a partner, a minister said. “BlackRock and TPG Capital, two global investment management firms are among the interested parties in addition to some Chinese airlines,” Malik Samarawickrama, minister of […]
Indian Minister says “not bitter” over Sampur, will look at LNG option
Sep 28, 2016 (LBO) – India has had “no bitter experience” and will not be pulled back by the halting of the Sampur coal power plant and will engage with Sri Lanka in a way both countries benefit out from it, a visiting Indian minister said. “These are national priorities and international commitments, both of […]