Category: Industry
‘s first social innovation lab
Feb 14, 2019 (LBO) – The Citra Social Innovation Lab, co-developed by the Ministry of Science, Technology and Research and the United Nations Development Programme, was officially launched by Prime Minister Ranil Wickremesinghe in Colombo, Wednesday. As Sri Lanka’s first Public Sector Innovation Lab, Citra works to strengthen institutions, build capacities of the public sector, and […]
Sri Lanka to host World Surf League qualifying series 6000 in Arugam Bay
Feb 13, 2019 (LBO) – With the growing success as a surfing destination, Sri Lanka has received the opportunity to host the World’s most accomplished surfers in a World Qualifying Series competition this June in Arugam Bay. This exciting opportunity is a perfect showcase for the growing world of surfing in Sri Lanka and would […]
DFCC becomes first Sri Lankan bank to be certified for Visa’s QR Payment Solution
DFCC Bank created history by becoming the first bank in Sri Lanka to be certified for Visa’s QR Payment Solution. A ceremony was held recently at the DFCC Bank to mark this achievement in the presence of senior management of DFCC Bank and Visa. The service brings the advantages of security, reliability, and global acceptance […]
Frontier Capital Partners to launch AI ChatBot to cater Tuk Tuk industry
Sri Lanka’s post war era emerging investment banker Frontier Capital Partners – that transferred some of the country’s prominent group companies to conglomeration in the post war era from 2009 to 2019, in a decade has recently released a newly developed advanced Artificial Intelligence (AI) ChatBot assistant titled ‘TukBoy’. According to the company officials the […]
Sri Lanka and Thailand to promote bilateral tourism
Given the close cultural and religious ties between Sri Lanka and Thailand, measures are being taken to promote bilateral tourism between the two predominantly Buddhist nations. In order to lay the foundation for this initiative a delegation from Sri Lanka headed by Minister of Tourism Development and Wildlife, John Amaratunga visited Thailand and held a […]
Hayleys records third quarter PBT of Rs.1.7Bn
Feb 12, 2019 (LBO) – Sri Lankan multinational, Hayleys PLC, recorded a strong all-round performance in the third quarter of 2018 (3Q18), as the Group turnover rose by 20 percent Year-on-Year( YoY) to 59.7 billion rupees bn, resulting in a sharp 80 percent YoY increase in Group’s Earnings Before Interest, Tax, Depreciation and Amortisation ( […]
Sri Lanka tourist arrivals up 2.2-pct in Jan 2019
Feb 12, 2019 (LBO) – The total number of international tourist arrivals to Sri Lanka during January 2019 was 244,239. In comparison to January 2018, there is a growth of 2.2 percent as the last year January tourist arrivals were 238,924, Sri Lanka Tourism Development Authority stated in a press release. Last month, the largest source […]
Central Bank clarifies issues on sale of ETI Finance Ltd
Feb 12, 2019 (LBO) – Sri Lanka’s Central Bank says it has come to the notice of the Bank that some misinformation is circulating pertaining to ETI Finance Ltd (ETIF) disposing its subsidiaries, sub-subsidiaries and investment properties, and the involvement of CBSL therein. With regard to the said transaction, CBSL wishes to clarify the following: […]
Fuel prices increased but no room to increase transport charges: Finance Ministry
Feb 11, 2019 (LBO) – Government today revised the fuel prices and accordingly the prices of one liter of Petrol Octane 92 and the Auto Diesel have been increased by 6 rupees and 4 rupees respectively.The Finance Ministry said according to the latest international market price of crude oil, the price of diesel should have been […]
BOI signs deal with Bellevue to build tallest building outside Colombo district
Feb 11, 2019 (LBO) – Sri Lanka’s BOI has signed an agreement with Bellevue Residencies Private Limited to build a mixed development project for a 35-storey Tower and shopping complex.“It will be constructed in Ja-Ela and it is the first time that such a high-rise tower is built outside the city of Colombo,” the BOI […]
Hemas 3Q profits up 50-pct primarily driven by seasonal demand for Atlas
Feb 08, 2019 (LBO) – Profit attributable to the equity holders of Hemas Group has reported a 50 percent growth primarily due to the strong performance at Atlas, during the third quarter. The quarter recorded a revenue and operating profit of 18.0 billion rupees and 1.9 billion rupees, a YoY growth of 46.8 percent and 92.6 […]
UK based Flexicare sings up with BOI to manufacture disposable medical devices in Sri Lanka
Feb 08, 2019 (LBO) – Flexicare (Group) Limited, a UK manufacturer has gained BOI approvals to begin laying the foundation for its newest state of the art manufacturing facility in Sri Lanka. The project which will be located in Bandaragama is expected to represent an investment in excess of U$10,000,000 over the course of the […]