Category: Industry
New leasing scheme for vehicles comes into effect
Jan 18, 2017 (LBO) – Central Bank of Sri Lanka has advised commercial banks and leasing companies to follow new regulations in granting loans for vehicle leasing including three wheelers. “The new circular has slapped additional controls over credit facilities afforded to three wheelers. Under the new leasing regulations the leasing facility offered will be 25 […]
Sri Lanka to regularize small commercial vessels
Jan 18, 2017 (LBO) – Sri Lanka’s cabinet has decided to regularize small commercial vessels that have been in service as well as new vessels including pleasure vessels used for profit or reward. Accordingly, commercial vessels, which are cargo and passenger vessels of less than 24 meters, but five meters or more in length, which […]
Iconic Galaxy breaks ground, ready for occupation by end 2020
(PRESS RELEASE) – Colombo: January 18 2017: Leading infrastructure and property developer, Iconic Developments Ltd, the developer of Iconic 110 Parliament Road, celebrated the beginning of construction of their latest housing property project, Iconic Galaxy. A ground-breaking ceremony at the site was officiated by the Chief Guest, Minister of Megapolis and Western Development, Hon Patali […]
‘t pay for new electricity connection
Jan 18, 2017 (LBO) – Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator, has introduced guidelines for those who are not able to pay the connection charge for a new electricity connection. “Sri Lanka has named year 2017 as the year for eradicating poverty in the country. These guidelines will ensure that […]
Standard Chartered’s “Welcome to the jungle” Global Research Briefing 2017
(PRESS RELEASE) – 18 January 2017, Colombo, Sri Lanka – Standard Chartered’s Global Research Team has included Sri Lanka as part of its Global Research Briefing circuit, and will conduct a closed-door exclusive session entitled “Welcome to the Jungle” for the bank’s clients on Tuesday 24 January 2017. Standard Chartered’s key economic researchers Dave Murray […]
‘ SmartHome system wins Eco-Innovation Award 2016
(PRESS RELEASE) – Innovative Smart Solution’s (iS2), Ape’ SmartHome system creator W.M. Jeremy Fernando was ajudged the winner of the Merrill J. Fernando Eco-Innovation Award 2016 in the Energy Prototype sector at a recently held ceremony. The award was in recognition of outstanding achievement in eco innovation and commitment to the sustainable development and growth […]
Sri Lanka, Thailand FTA feasibility to conclude by August
Jan 18, 2017 (LBO) – Sri Lanka is looking at purchasing sugar from Thailand, while the feasibility study for the Free Trade Agreement with Thailand is set to conclude by August 2017, the Ministry of Industry and Commerce said. Minister of Industry and Commerce Rishad Bathiudeen met with Thai counterpart Apiradi Tantraporn, Thai consumer goods […]
‘s industrial output up 4.5-pct in November
Jan 18, 2017 (LBO) – Sri Lanka’s Index for Industrial Production (IIP) shows volume of industrial production rose 4.5 percent in November 2016 when compared with the same period last year, a statement said. According to the island’s Census and Statistics Department, manufacturing of food products is the major contributor at a total industrial value […]
Power Minister dissolves board of Lanka Coal Company
Jan 18, 2017 (LBO) – Sri Lanka’s Power Minister Ranjith Siyambalapitiya has dissolved the director board of Lanka Coal Company with immediate effect, the ministry said. The removal has been carried out following a recommendation made by the Power Ministry to appoint a new board after considering necessary changes to the composition, powers, responsibilities and […]
APTA countries agree to widening tariff concessions by mid 2017
Jan 17, 2017 (LBO) – Sri Lanka along with other members of Asia Pacific Trade Agreement (APTA) last week agreed to sign the protocol to conclude the 4th round of concessions which are to be implemented by 1st July 2017. The 4th round of tariff concessions has widened the coverage of preferences of total tariff […]
Sri Lanka’s first 7-star apartment complex to start construction
Jan 17, 2017 (LBO) – Sri Lanka’s first seven-star luxury apartment complex, Achilleion, is set to commence construction work this week, its developers said. Achilleion is undertaken by Blue Mountain Apartments which is part of the Blue Mountain Group. Located on Station Road, Colombo 04, this apartment complex comprises of two 50-storied skyscrapers, connected by […]
‘s JKH files patent on energy storage nanomaterial
Jan 16, 2017 (LBO) – Sri Lanka’s John Keells Holdings plc filed its first patent jointly with the Council for Scientific and Industrial Research (CSIR) India, in the area of energy storage materials, the company said in a statement. The patent application filed at an Indian patent office in December 2016 is related to a […]