Category: Industry
‘s fruits and vegetables
Sept 20, 2018 (LBO) – A Memorendem of Understanding has been signed between the Ministry of National Policies and Economic Affairs and the Government of India, to commence the construction of the largest cold storage in Sri Lanka for vegetables and fruits. According to the MoU signed at the Indian High Commission in Colombo, with […]
‘s Access gets Col 02 land for Rs.1.1 Bn
Sept 20, 2018 (LBO) – Sri Lanka’s cabinet of ministers has approved the lease of a prime land block in the Colombo’s central business district to Access Realties, a local real estate developer, s statement said. The land area of 114.56 perches has been leased on a 99 year lease for 1.1 billion rupees, a recently […]
Cabinet nod for 500MW LNG plant in Kerawalapitiya
Sept 20, 2018 (LBO) – – The Ceylon Electricity Board has been given cabinet approval to sign an agreement with India’s NTC to build and 500 Meggawatt liquefied natural gas power plant, a cabinet statement said. The new LNG plant will be built in Kerawalapitiya and is an agreement between the two governments. The cabinet proposal was […]
Margin deposit requirement against LCs opened with commercial banks for vehicles
Sept 20, 2018 (LBO) – The Monetary Board of the Central Bank of Sri Lanka imposed a 100 per cent margin deposit requirement against Letters of Credit opened with the commercial banks for the import of motor vehicles,which are generally used for non-commercial purposes,with immediateeffect.Accordingly, Letters of Credit for the importation of these vehicle categories […]
Pelwatte Dairy commissions new milk powder plant
Sept 19, 2018 (LBO) – Pelwatte Dairy Industries Limited, a local dairy manufacturer expanded its operations by commissioning a brand new milk powder plant within its factory complex in Buttala. The plant increased the company’s daily raw milk inflow capacity to 300,000 litres. “Annually Sri Lanka imports over 90,000 tons of milk powder spending millions […]
NTB empowers Sri Lankan expats to become entrepreneurs through workshops in South Korea
(PRESS RELEASE) – South Korea is home to a vibrant community of Sri Lankan expatriates striving to build a better future for their families in Sri Lanka by taking advantage of opportunities in major cities like Gimhae. This results in a large volume of remittances from South Korea to Sri Lanka, which Nations Trust Bank facilitates […]
‘s CAL facilitates first cross-border share transaction by local investment bank
Sept 19, 2018 (LBO) – Capital Alliance (CAL), recently performed Sri Lanka’s first ever transaction of overseas stocks, a statement said. CAL partnered with Lanka Bangla Securities, a licensed stockbroker on the Dhaka Stock Exchange in Bangladesh to conclude this investment. “CAL has supported investors on the CSE for many years, but the liberalization of […]
Colombo City Centre Mall to opens doors today
Sept 19, 2018 (LBO) – Sri Lanka’s Colombo City Centre mall by Abans and NextStory Group will open to the public at 4.30 pm today. Conveniently situated by the scenic Beira Lake at the heart of the city, this ultra-modern lifestyle destination has been billed as Sri Lanka’s first international fashion mall. The mall will […]
Sri Lanka records GDP growth of 3.7-pct
Sept 19, 2018 (LBO) – Sri Lanka has recorded a growth of 3.7 percent in Gross Domestic Product in the second quarter of 2018. Growth in the first quarter was slightly lower at 3.5 percent. The GDP at constant (2010) prices for the second quarter of 20 18 recorded as 2, 264,445 million rupees, and GDP […]
‘s rooftop solar power project
Sept 19, 2018 (LBO) – The Enterprise Sri Lanka projects which was launched by the Ministry of Finance has received Rs 8 billion ( USD 50 Million) from the Asian Development Bank for the rooftop solar power generation project. The main objective of this project is to support government’s “Battle for Solar Power Programme” to achieve […]
SLASSCOM launches program with Uni of Colombo for data science and AI
Sept 18, 2018 (LBO) – The Center for Data Science, Department of Statistics, University of Colombo will launch a training program in fundamentals of data science, establishing it as the third pillar within Sri Lanka’s ICT Exports. The course fee of this program is subsidized through the National Export Strategy (NES) initiatives through the Export Development […]
‘s real-estate
Sept 18. 2018 (LBO) – Singapore based property developer, Iconic said they are planning to invest US 50 million dollars in Sri Lanka’s luxury/semi luxury and affordable real-estate projects. “We want to deploy an additional fund of US 50 million dollars in Sri Lanka’s real-estate market and are looking at two major verticals,” Rohan Parikh, Managing Director, Iconic […]