Category: Industry
London Stock Exchange fills 100 tech jobs in Sri Lanka
Sept 19, 2016 (LBO) – London Stock Exchange Group said its Business Services division (LSEG BSL) in Sri Lanka has completed the first stage of its set-up operations, with over 100 tech sector professionals recruited. Set up in May 2016, the new 26,000 sq ft technology centre at Expert City in Maradana, will be manned […]
Textured Jersey executives meet investment funds in U.S.
Sept 19, 2016 (LBO) – Textured Jersey Lanka PLC executives Moiz Rehmanjee and Rodney Arland were in the U.S. last week to meet global investment funds, as part of a non-deal roadshow. Rehmanjee is chief operating officer for commercial, and Arland is chief operating officer for marketing/business development. The two executives were hosted by institutional […]
Sri Lanka vehicle registrations rebound from July lows: JB
Sept 19, 2016 (LBO) – Sri Lanka vehicle registrations saw a rebound in August from the July lows in the categories of small cars, three-wheelers, two-wheelers and mini trucks, JB Securities said. Motor car registrations in August were 3,011 units, up from 2,596 units the previous month, although significantly down from a high of 14,544 […]
SriLankan Air bans use and charging of Samsung Galaxy Note7
Sept 15, 2016 (LBO) – SriLankan Airlines says it has completely banned the use or charging of Samsung’s latest Galaxy Note7 smartphone on board all its flights with immediate effect until further notice, following Samsung suspending its sales in the wake of several incidents of phone batteries catching fire. The ban applies to turning on […]
Australian women’s team in Sri Lanka for first cricket series
The Australian women’s cricket team the Southern Stars have arrived in Colombo for the first ever women’s cricket series between Australia and Sri Lanka. The world’s number one team in all formats of cricket, the Stars are in Sri Lanka for a four-match one-day series and a T20 match in September. Welcoming the Southern Stars […]
Sri Lanka introduces contributory pension scheme for artists
Sept 15, 2016 (LBO) – Sri Lanka’s government has allocated 15 million rupees to form a contributory pension scheme for 327 artists, as an initial phase of the programme. Citizens between the age of 23 and 55 who satisfy the eligibility criteria as artists will be given priority, a cabinet decision said. The cabinet has […]
‘s Herath clinches bronze at Rio Paralympics
Sep 14, 2016 (LBO) – Sri Lanka’s Dinesh Priyantha Herath, a 30-year-old, secured the islands first medal in men’s javelin throw F46 final at the Rio Paralympics. He claimed the third spot clearing a distance of 58.23 meters behind India’s Devandra Jhahharia, who won Gold, and Guo Chunliang of China who secured Silver. Herath hails […]
Vitol to be reinstated if guidelines met: Petroleum Min
Sept 14, 2016 (LBO) – Sri Lanka’s Petroleum Minister Chandima Weerakkody said Vitol, the world’s largest oil trading firm, will be reinstated as a supplier if they can prove their products meet necessary guidelines. “I have called for a report from CPC and the Cabinet Appointed Tender Committee. I was told that the committee approved […]
Sri Lanka fuel pricing formula accepted in principle: minister
Sept 14, 2016 (LBO) – A proposal for automatic fuel pricing has been accepted in principle, Sri Lanka’s Petroleum Minister Chandima Weerakkody said on Wednesday, adding a timeline for implementation has not yet been decided. “The Finance Ministry and relevant committees are discussing the details. My proposal has been accepted in principle,” he said, speaking […]
LankaPay says USD Online crosses Rs. 1.8bn mark
Sep 14, 2016 (LBO) – Payment network LankaPay says they will continue to expand services towards better financial inclusivity and is keen on expanding their core product offering. “Customers can expect more along these lines of innovations in the near future,” Channa de Silva, LankaClear chief executive officer and general manager said. “In addition to […]
Sri Lanka budget deficit to be 4.7-pct in 2017, FinMin tells IMF
Sep 14, 2016 (LBO) – Sri Lanka’s Finance Minister said that the island plans on reducing the budget deficit to 4.7 percent in 2017. “We had a budget deficit of 6.7 percent of the GDP last year and this year’s target will be 5.4 percent. it will be further reduced to 4.7 percent in 2017,” […]
Sri Lanka to stop Sampur coal power plant, SC informed
Sep 14, 2016 (LBO) – Sri Lanka’s Supreme Court (SC) was informed that the proposed 500 megawatt Sampur coal power plant will not be constructed following a Fundamental Rights application filed by Environmental Foundation (Guarantee) Limited. The Attorney General informed court that the Ministry of Power and Energy had already taken this decision. The Sampur […]