Category: Industry
‘s Commercial Bank offers e-FDs for foreign currency accounts
May 24, 2017 (LBO) – Sri Lanka’s Commercial Bank’s Online Banking platform has been further enhanced with the introduction of electronic fixed deposits (e-FDs) in both local and foreign currencies. The Bank has announced that e-FDs can now be opened from the Bank’s online portal at www.combank.lk “We are aware that there is a lot […]
Dialog paves way for 5G with successful MIMO trial
May 24, 2017 (LBO) – Sri Lanka’s Dialog Telecom said they have successfully completed a trial of next-generation, MIMO (Multiple-Input Multiple-Output) Technology. “In the race to 5G with unprecedented improvements in network throughput and capacity, MIMO is considered the most compelling technology with superior energy and spectral efficiency,” the company said in a statement. “Dialog […]
‘s retail sector, says Takas CEO
May 24, 2017 (LBO) – Sri Lanka’s online retail sector is booming, which poses a threat to traditional retail stores. Online stores too are battling it out for market share. Lanka Business Online spoke to Lahiru Pathmalal, the CEO of Takas.lk, one of the top online retailers in the island, to find out how the […]
‘s Lakdhanavi to build power station in Bangladesh
May 23, 2017 (LBO) – Sri Lanka’s Lakdhanavi, the power generation arm of LTL Holdings, has been awarded a contract by Bangladesh Power Development Board (BPDB) to construct a 114 MegaWatt thermal power plant in the country. The award was through international competitive bidding process, the company said a statement. The Company expects to finance […]
Nawaloka Holdings acquires machinery manufacturer & distributor Alcobronz
(Press Release) Nawaloka Holdings, a diversified conglomerate in Sri Lanka recently acquired the leading machinery Manufacturer, Importer and Distributor Alcobronz (Pvt) Limited. With over 40 years of experience in the Woodworks, Metalworks, Dust Management Systems and Aerospace Industries, Alcobronz is one of the largest manufacturers and distributors of machinery in the island. Speaking on the […]
Dialog Axiata offers pay per click rewards in Sri Lanka
May 23, 2017 (LBO) – Sri Lanka’s Dialog Axiata has entered the pay-per-click market offering Dialog and non-Dialog subscribers the opportunity to earn rewards on a daily basis. A website called Freezone.lk has been launched for this purpose which is a sponsored deal site introduced for the first time in Sri Lanka. The website provides […]
Hemas VAT Reclaim Service helps SL biz travelers recover VAT on travel costs
Hemas Travels, the local representative for Hogg Robinson Group (HRG), the global travel management company with representation in over 120 countries, has been appointed the official representative for the Cash Back, the VAT reclaim organisation with its Head Office in Switzerland. “Hemas is delighted to have been given the rights to market and sell the […]
Sri Lanka makes use of generators in factories compulsory
May 02, 2017 (LBO) – Sri Lanka’s Power Ministry has made it compulsory to use generators in factories from today for the next four days due to a shortage of power. Power Minister Ranjith Siyambalapitiya said due to prevailing hot weather condition total power consumption has increased by 18 percent during daytime and 10 percent […]
John Keells to encourage innovators with Open Innovation Challenge
May 02, 2017 (LBO) – Sri Lanka’s blue chip John Keells Holdings plans to boost local creative and intellectual talent with the launch of its second John Keells X “Open Innovation Challenge 2017” The programme will allow teams of aspiring innovators to compete for a chance to win entry into a six-month accelerator programme at […]
Sri Lanka vehicle registrations rebound to 39,173 units in March: JB Securities
May 02, 2017 (LBO) – Total vehicle registrations in Sri Lanka recorded 39,173 units in March, significantly up from 30,036 the previous month, with a rebound in two-wheeler registrations, JB Securities said in a research note. On most categories, there was a rebound due to higher number of working days and pre-holiday season push from […]
PUCSL discusses environmental concerns with Norochcholai communities
Apr 28, 2017 (LBO) – Sri Lanka’s power regulator said that discussions are ongoing with communities that have raised concerns over the environmental impact of the Norochcholai coal power plant. The discussions come following Supreme Court direction to the Public Utilities Commission, the commission said issuing a statement. “All matters concerning the environmental damage caused […]
Sri Lanka’s HNB to strengthen balance sheet with rights issue
Apr 28, 2017 (LBO) – Sri Lanka’s Hatton National Bank is to issue up to 70,082,228 new ordinary shares by way of a rights issue, the company said in a stock exchange filing. Subject to exchange and shareholder approval, the bank is to issue 55,995,792 ordinary voting shares at 220 rupees each in the ratio […]