Category: Featured
Sri Lanka bans cinnamon imports and re-exports
Nov 09, 2016 (LBO) – Sri Lanka’s cabinet nod has been received to list Cinnamon as a banned commodity to import from other parts of the world. The move came after few incidents that Cinnamon produced in other countries re-exported to several countries under the Entrepot trade. Ministry of Primary Industries said as per the […]
Interview: Strength of potential partners key to LNG negotiations, says PRDS DG
Nov 08, 2016 (LBO) – The reputation and financial strength of potential partners is key to developing Sri Lanka’s LNG infrastructure, according to the head of the Petroleum Resources Development Secretariat (PRDS). “Introducing a new energy form of LNG and building up end-user dependency on it requires a low-risk approach to supply assurance,” Saliya Wickramasuriya, […]
‘s tourism minister highlights red-tape as major challenge
Nov 09, 2016 (LBO) – Sri Lanka’s ambitious plans to develop its tourism sector are being held up by too much bureaucracy, according to the island’s Minister for Tourism, John Amaratunga. Speaking ahead of the inaugural Asia Hotel and Tourism Investment Conference (AHTIC) in Colombo, he said: “One of the biggest challenges is the bureaucracy. […]
Sri Lanka welcomes first KLM flight after nearly 20 years
Nov 08, 2016 (LBO) – KLM Royal Dutch Airlines resumed flights to Sri Lanka on 01 November with a twice-weekly service between Colombo and Amsterdam operated by Boeing 787 Dreamliner aircraft, a statement said. On board were KLM VIPs and Joanne Doornewaard, ambassador of the Kingdom of the Netherlands to Sri Lanka and Maldives. Throughout […]
Nestlé Lanka invests Rs500Mn in Sri Lanka’s dairy industry
Nov 08, 2016 (LBO) – Nestlé Lanka, a unit of the Swiss-based food group, announced the opening of a new UHT milk plant in their factory in Kurunegala. The company has made an investment of 500 million rupees in the island’s dairy industry with the new production facility. Through this new investment on a UHT […]
VC fund BOV Capital invests in OMAK Technologies
Nov 08, 2016 (LBO) – BOV Capital has led a successful investment round for OMAK Technologies, a fast growing regional restaurant management solutions provider with roots in Sri Lanka. BOV Capital is the first Sri Lanka-and Singapore-based venture capital fund focusing on Sri Lankan ventures that export technology-oriented products and services. Having closed the new […]
Budget 2017 will bring change to Sri Lanka: Ravi K
Nov 08, 2016 (LBO) – Sri Lanka’s Budget 2017 will reduce cost of living and strengthen investments, the Finance Minister said. “Steps have been taken in the forthcoming budget to reduce cost of living while measures have been taken to strengthen investment in the country,” Ravi Karunanayake, Finance minister said following meetings with two former […]
Sri Lanka tourist arrivals up 14-pct in October 2016, India, China lead
Nov 07, 2016 (LBO) – Tourist arrivals to Sri Lanka were up by 13.7 percent in October 2016 from a year ago with Indian and Chinese markets growing in double digits, data from the state tourism office showed. Arrivals were up 13.7 percent to 150,419 visitors in October 2016 from 2015’s 132,280 visitors. India recorded […]
Gemfields PLC announces preferred suppliers for supply chain
Nov 07, 2016 (LBO) – Ratnapura Lanka Gemstones, a subsidiary of Gemfields plc, has announced the shortlisting of preferred suppliers following the call for expressions of interest from licensed mining companies and registered gem dealers in Sri Lanka. “Through working with these preferred partners, Gemfields intends to establish a supply chain which would help grow […]
Ceylon Chamber concerned over pharma product pricing
Nov 07, 2016 (LBO) – The Ceylon Chamber of Commerce has expressed concerns about fixed prices on medicinal drugs announced by Government Gazette. “Sri Lanka has a strong and accessible public healthcare system, complemented by a quality private healthcare system that is catering to evolving needs of the Sri Lankan people,” the business chamber said […]
India, Sri Lanka hold ministerial talks on fishermen
Nov 07, 2016 (LBO) – India and Sri Lanka have held ministerial level talks to find solutions to fishermen’s issues. External Affairs Minister Sushma Swaraj and Minister of Agriculture & Farmers Welfare Radha Mohan Singh met with the Sri Lankan Minister for Foreign Affairs Mangala Samaraweera and Minister for Fisheries and Aquatic Resources Development Mahinda […]
‘s exports: World Bank
Nov 07, 2016 (LBO) – Sri Lanka could grow it exports by encouraging resources to more productive firms through managing urbanization and fostering agglomeration of firms, a World Bank report states. Firms could also invest more in training their workers and managers, with active measures from the government, the report states. “Sri Lanka’s leading firms […]