Category: Industry
Ceylon Cold Stores net up 26-pct in December quarter
Jan 30, 2017 (LBO) – Profits at Sri Lanka’s Ceylon Cold Stores rose 26 percent to 823 million rupees in the December 2016 quarter from a year earlier. Ceylon Cold Stores is a top producer of carbonated drinks, ice creams and has a retail chain. The firm reported earnings of 8. 67 rupees per share […]
Nawala emerging as high end apartment hub: RIU
Jan 30, 2017 (LBO) – Nawala, between Sri Lanka’s commercial capital Colombo and administrative capital Kotte, is seen as the next high-end residential apartment hub, as new infrastructure in and around the area will address issues related to traffic congestion, a research institute said. “Many new real estate developers have realised the potential of the […]
‘s Sail Lanka Charter hosts PM on-board catamaran
Jan 27, 2016 (LBO) – Sri Lanka’s Sail Lanka Charter hosted Prime Minister Ranil Wickremasinghe and his wife on-board their 53ft sailing catamaran, Sapphire, during the Fairway Galle Literary Festival. The vessel reflects local talent as it was built in Sri Lanka using local materials, the company said. Established in 2014 as part of the […]
Teejay ends Q3 with revenue growth of 33-pct despite challenges
Press Release: The Teejay Group which recently consolidated its operations in Sri Lanka and the region under the single brand ‘Teejay,’ announced a strong revenue growth of 33 percent over the nine months ended 31st December 2016. The Group recorded a revenue of 16.4 Billion compared to the Rs. 12.3 Billion during the corresponding period […]
Govt gives nod for construction of luxury tourist camps in Yala
Jan 26, 2017 (LBO) – The cabinet has approved additional land of 155 perches on 50 year lease basis to construct luxury tourist camps adjacent to Yala National park, a statement said. The price of the land adjacent to Yala Block C will be determined by the Chief Valuer with approvals needed from the Department […]
Experts from Facebook, Google coming to Sri Lanka for summit
Jan 25, 2017 (LBO) – Sri Lanka is planning to hold a digital summit in March this year to boost the country’s global digital presence. It is expected that experts and executive officers of prominent companies such as Facebook, Google, Social Capital, Infosys and other internationally reputed corporate CEOs will participate in this event. One […]
Sri Lanka to expedite grid connections for roof top solar: PUCSL
Jan 25, 2017 (LBO) – Sri Lanka’s power regulator has directed the Ceylon Electricity Board (CEB) and Lanka Electricity Company Private Limited (LECO) to connect domestic rooftop solar plants to the national grid within two weeks from the date of application. “The direction to provide the connection for rooftop solar plants to the national grid […]
Aitken Spence Hotels Turyaa Chennai amongst Top Five-Star Hotels in the City
(PRESS RELEASE) – Turyaa Chennai, owned and operated by Aitken Spence Hotels has successfully met criteria for obtaining “5-Star Deluxe” classification, ranking it as one of five hotels in Chennai to have obtained this highly sought after accreditation. Turyaa Chennai now joins Hilton Chennai, Hyatt Regency Chennai, ITC Grand Chola Chennai and Park Hyatt Chennai […]
Former Governor Mahendran “NOT” working at Ministry: Ravi
Jan 24, 2017 (LBO) – Sri Lanka’s Finance Minister has denied reports that former Governor of the Central Bank, Arjun Mahendran is attached to his ministry or the Central Bank, a statement said. “The Ministry of Finance wishes to inform that Arjun Mahendran, the former Governor of the Central Bank of Sri Lanka, is not working in […]
Sri Lanka adds more investigation officers for price controls
Jan 23, 2017 (LBO) – Sri Lanka is enforcing new protection measures from 21st January to safeguard consumers from errant traders who violate price controls in the domestic market. Industry and Commerce Ministry said 62 new investigation officers were appointed bringing the total force to 250, island-wide, to safeguard 21 million consumers. Speaking at an […]
Bank of Ceylon becomes first bank in Sri Lanka to surpass Rs1 trillion advances
The Bank of Ceylon scored its third “Trillion” at the end of the year 2016. That is surpassing the Rs. One trillion mark in advances- another unique milestone in its 77-yearjourney as “the Bankers to the Nation” and becoming the first ,and up to now the only bank to pass this milestone in Sri Lanka. […]
New 10MW solar power plant construction to kick-off tomorrow
The foundation stone laying ceremony of a new 10MW solar power plant in Raṇamayurapura, Hambantota will be held tomorrow with the participation of Power Minister and offcials. New plant will be built under the Soorya Bala Sangramaya (Battle for Solar Energy) project of Sri Lanka Sustainable Energy Authority with the private sector investment. Power Ministry […]