Category: Featured
Sri Lanka wants 20 pct of consumers to produce solar power: Cabinet
Aug 18, 2016 (LBO) – Sri Lanka’s Cabinet has approved promoting solar power on the roofs of homes so that at least 20 percent of consumers produce electricity. “Currently 50 percent of electricity production in Sri Lanka is done by renewable energy sources and it is expected to increase this percentage to 60 percent in […]
Opinion: Sampur Coal vs LNG – backward looking policy on display
By Lancelot The Sampur power plant has been a topic of much contention over the last few years. Now there is a school of thought that the plant should be fueled by LNG, as opposed to Coal. Many analysts, and also top level corporate titans, see this as a problem as the project timeline will […]
China to set up canned fish, gem and jewelry firms in Hambantota
Aug 16, 2016 (LBO) – Chinese firms have shown keen interest in setting up tinned fish, and gem and jewellery enterprises in a proposed special industrial zone close to Sri Lanka’s Hambantota port. “A Sri Lankan delegation led by Prime Minister Ranil Wickremesinghe has held talks with China’s Chongqing Foreign Trade and Economic Cooperation Company […]
LSE business division to open HQ in Sri Lanka soon
Aug 15, 2016 (LBO) – London Stock Exchange Group’s Business Services division (LSEG BSL) will soon open its new headquarters in the historic Expert City precinct, formerly known as Tripoli Market, in Colombo. The new Business Services division in Sri Lanka will provide support to the group’s operating entities across the globe, the group said in […]
Sri Lanka to Host Asia Hotel and Tourism Investment Conference
Aug 15, 2016 (LBO) – Sri Lanka, one of the top two emerging hotel and resort markets in Asia, is to host the first Asia Hotel and Tourism Investment Conference (AHTIC), a top-level gathering of international investors, business leaders, government ministers and officials. President Maithripala Sirisena is supporting the conference as its patron. The AHTIC […]
SLT gets full landing status for SEA-ME-WE 5 in Matara
Aug 12, 2016 (LBO) – Telecommunications and ICT solutions provider, Sri Lanka Telecom PLC (SLT), says it has gained full landing status of SMW5 Cable Station in Matara. With this, Sri Lanka can offer the region “state-of-the-art global services provided through multiple international undersea cable systems,” SLT said in a statement. SLT’s International Backhaul Network […]
‘l Airlines
Aug 11, 2016 (LBO) – SriLankan Airlines has entered into a “wet lease” agreement with Pakistan International Airlines (PIA), owned by the government of Pakistan, whereby an Airbus A330-300 aircraft will be leased by SriLankan to PIA on Aircraft Crew Maintenance & Insurance (ACMI) basis. This means that the aircraft will remain under SriLankan registry and […]
Sri Lanka cabinet approves purchase of fighter aircraft
Aug 11, 2016 (LBO) – Sri Lanka’s cabinet has approved the purchase of new fighter aircraft following a proposal by President Maithripala Sirisena who is also the defense minister, reports said. “The fighter aircrafts of the Sri Lanka Air Force have been aging and it is required to maintain them updated due to the importance […]
Sri Lanka to get Singapore technical assistance for Megapolis
Aug 11, 2016 (LBO) – Sri Lanka’s government will sign a Memorandum of Understanding with Singapore’s International Enterprise Singapore to get assistance for the Megapolis project. “Some of the projects are complex and technically sophisticated projects and require the support of international experts,” a statement on cabinet decisions said. Therefore, considering the importance of exchanging […]
Sri Lanka Tanzania Investment Chamber launched in Dar es Salaam
Aug 11, 2016 (LBO) – Sri Lanka and Tanzania look set to expand business and investment promotion between the two countries with the launch of the Sri Lanka Tanzania Investment Chamber in Dar es Salaam, Tanzania last week. The chamber was inaugurated by Minister of Tourism Development, Christian Religious Affairs and Lands, John Amaratunga. “With […]
No more aircraft for Sri Lankan; reports not submitted: COPE
Aug, 10, 2016 (LBO) – The Committee on Public Enterprises (COPE) of Sri Lanka’s parliament has recommended that SriLankan airlines officials not to go ahead with the purchase of new aircraft while also calling them to submit several other reports on irregularities. “The transaction of purchasing new aircrafts without conducting a cost basis analysis should […]
Sri Lanka Supreme Court blocks bill raising VAT
Aug 09, 2016 (LBO) – Sri Lanka’s Supreme Court has ordered parliament to stop considering a bill to raise value-added tax (VAT) because the drafting of the proposed legislation had not followed due process, the assembly speaker said on Tuesday. The failure to raise the tax could put in jeopardy the government’s ambitious fiscal consolidation […]