Category: Industry
UK’s Flexicare launches USD 10Mn health care manufacturing facility in SL
Mar 13, 2019 (LBO) – Flexicare Lanka (Pvt) Ltd., a fully owned subsidiary of Flexicare Group, UK launched the construction of a state-of-the art modern manufacturing facility in Bandaragama with an investment of over US 10 million dollars, recently. The project is approved by the Board of Investment of Sri Lanka.Flexicare Group UK Managing Director, Hash […]
Fuel prices increased; Petrol hiked to Rs.132
Mar 13, 2019 (LBO) – Sri Lanka Government increased the price of petrol (92 Octane) by 3 rupees to 132 rupees a litre and auto diesel by 1 rupee to 104 rupees from midnight yesterday, the finance ministry said. Petrol (Octane 95) will now be sold at Rs. 159, after an increase by Rs. 7 a […]
‘s Michelin eyes Sri Lanka for new operations
Mar 13, 2019 (LBO) – A delegation from Michelin, the French tire manufacturing giant met with the Board of Investment Chairman Hemasiri Fernando and Champika Malalgoda, Director General of the BOI. By acquiring Camso Lodestar the leader in the manufacture of solid rubber tires in the country and a BOI enterprise, Michelin are now established […]
LSEG appoints Dee Liyanwela as head of LSEG Technology Sri Lanka
Mar 12, 2019 (LBO) – The London Stock Exchange Group (LSEG) announced Dee Liyanwela has been appointed as the Head of LSEG Technology Sri Lanka, in addition to his role as Group Head of Shared Service Centres. LSEG Technology, formerly known as MillenniumIT, develops and operates high performance technology solutions, including trading, market surveillance and […]
CSE listed East West Properties (EAST) reports a crippling loss, equity almost wiped out
March 12, 2019 (LBO) – Colombo Stock Exchange listed East West Properties (EAST) has reported a crippling loss which has almost wiped out the entire equity of the firm. The group, which is the controlling shareholder of the Marriot hotel in Weligama, is suffering under a crippling debt load of over close to Rs6bn. It […]
SL foresee digitalization and 5G as ‘Energy Pill’ for Economic Growth: Min Harin
Mar 12, 2019 (LBO) – Sri Lanka’s Minister of Telecommunication, Foreign Employment and Sports, Harin Fernando pointed out government’s aim is to make Sri Lanka a benchmark in adopting Digital Technologies for Government administration and public affairs management, whilst the necessary technical infrastructure to facilitate this effort, especially in rural areas will be provided. He […]
SL fiscal consolidation plans challenging without policy effectiveness and faster growth
Mar 12, 2019 (LBO) – Achieving Sri Lanka’s deficit and debt targets will be challenging without a significant increase in fiscal policy effectiveness and faster Gross Domestic Product (GDP) growth, a rating agency said in a statement. ‘Sri Lanka’s ambitious fiscal consolidation targets – when the country has not had a fiscal deficit below 5.0 […]
JICA signs LKR 48Bn concessionary loan to establish Malabe-Fort LRT
Mar 11, 2019 (LBO) – A concessionary loan agreement for JPY 30,040 million (approx. 48 billion rupees) was signed between the Government of Sri Lanka and Japan International Cooperation Agency (JICA) for engineering services and construction of a Light Rail Transit (LRT) line between Malabe and Colombo Fort, recently. The loan will finance […]
Interview : Present and future trends in real-estate and condo market in Sri Lanka
Mar 11, 2019 (LBO) – The Blue Ocean Group of Companies has grown into a versatile conglomerate over the past few years. The group of companies engage in real estate, construction, engineering, trading, education, travels and holidays, entertainment, consultation and many other fields. LBOTv had a chat with Chairman of Sri Lanka’s Blue Ocean S.Thumilan…..
‘s Day
In recognition of International Women’s Day, SriLankan Airlines operated its first all-female crew flight from Colombo to Singapore and return.UL306 of 8th March ’19 landed in Singapore carrying more than 170 passengers onboard. The flight was piloted by Captain Simran Ghumman, First Officer Maneesha Nambuge accompanied by purser Miranda Rodrigo and the cabin crew – […]
Colombo Land Price Index records 18-pct increase in 2H 2018
Mar 07, 2019 (LBO) – Land Price Index (LPI) for Colombo District, compiled by the Central Bank reached 125.9 during the 2nd half of 2018, recording an increase of 18 percent compared to the 2nd half of 2017.The three sub-indices of LPI, namely residential, commercial and industrial have contributed to this increase. LPI is compiled covering […]
‘s new VAT laws
Mar 07, 2019 (LBO) – Condominium developers are urging buyers to profit from the new VAT laws as all condominiums are about to go up in price soon.After the 1st of April, any condominium buyer will have to pay 15 percent VAT on top of the purchase price.Eduard Hempel, Director of Tamba Villas says that […]