UBER launches new rider app
(PRESS RELEASE) - Colombo, November 2, 2016: Uber, the ridesharing app, today announced the launch of its new rider app, rebuilt completely from the ground up …
Industry
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Sri Lanka awards USD58mn railway tender to only bidder
Nov 03, 2016 (LBO) – Sri Lanka’s cabinet nod has been given to award a tender to the only bidder who submitted a bid to supply six Diesel Multiple Units …
Sri Lanka to call EOI’s for multi-modal transport hub
Nov 03, 2016 (LBO) - Sri Lanka's cabinet of ministers has approved for the Megapolis and Western Development Ministry to call for expressions of interest to …
ADB gives USD60Mn for drinking water in Sri Lanka’s kidney disease prone areas
Nov 03, 2016 (LBO) - Sri Lanka has entered into a agreement with the Asian Development Bank to obtain 60 million dollars to implement clean drinking water …
Sri Lanka grants 25 year income tax waiver for Port City developer
Nov 02, 2016 (LBO) – Sri Lanka’s cabinet has approved granting of exemptions for the project company of the Colombo Port City in terms of the Strategic …
New pension scheme for Sri Lankan migrant workers
Nov 02, 2016 (LBO) – Sri Lanka’s government will implement a new pension scheme for migrant workers with effect from January next year, a cabinet decision …
Japan looks at SME business opportunities in Sri Lanka
Nov 02, 2016 (LBO) - Representatives from the World Business Society of Tokyo Small and Medium Enterprise Consultant Association (WBS) are currently visiting …
iflix adds Hindi & Tamil content for Sri Lanka internet TV viewers
iflix, the world’s leading Internet TV service for emerging markets is thrilled to announce the addition of hugely popular Hindi and Tamil programming to its …
USD1 bln expected from Hambantota port sale: CB Governor
Nov 02, 2016 (LBO) - Sri Lanka could expect a one billion dollar inflow to the economy in about five months time through the sale of a stake in the Hambantota …
Aitken Spence Travels Brings in Russian Charter to Sri Lanka
(PRESS RELEASE) - Aitken Spence Travels, the premier destination management company in Sri Lanka in collaboration with Coral Travel & their airline charter …
Sierra starts joint venture in Fiji to manufacture power cables
Nov 01, 2016 (LBO) – Sri Lanka’s Sierra Cables has decided to jointly invest in a new power cable manufacturing plant in Fiji, the company said in a stock …
Korea Eximbank checks feasibility to create ICT hub in Sri Lanka
Oct 31, 2016 (LBO) – South Korea’s export and import bank is planning to conduct a comprehensive feasibility study to establish an ICT Hub for secondary …
Sri Lanka to have 500 public Wi-Fi spots before end 2016
Oct 31, 2016 (LBO) – Sri Lanka’s Digital Infrastructure Ministry is expected to complete opening of 500 free public Wi-fi spots in the island before the …
South Asia Textiles embarks on USD3mn expansion
Nov 01, 2016 (LBO) - Textile manufacturer South Asia Textiles says it will extend its one billion rupee expansion program with a three million dollar …
Sri Lanka’s VAT hike will keep IMF on track, credit positive: Moody’s
Oct 31, 2016 (LBO) - Sri Lanka's Value Added Tax (VAT) hike 15 percent from 11 percent will make the island credit positive as it will facilitate fiscal …
Sri Lanka to sell 80 percent of southern Hambantota port to Chinese firm
Oct 28, 2016 (Reuters) – Sri Lanka will sell to a Chinese company 80 percent of a $1.5-billion port in its south, where China has also been offered an …
EU team to visit Sri Lanka next week on GSP+ application
Oct 28, 2016 (LBO) - A four member delegation from the European Parliament will visit Sri Lanka next week to look at the groundwork laid for a successful GSP+ …
India’s sub-sea power cable can be a solution for Sri Lanka: PUCSL
Oct 28, 2016 (LBO) - The planned laying of a sub-sea electricity cable to transmit power from India to Sri Lanka can be one solution to the island’s looming …
Sri Lanka’s tallest residential project to have fastest elevators
Oct 28, 2016 (LBO) – Sri Lanka’s tallest residential building, the Altair project, will have country’s fastest elevators, Aitken Spence said in a …
Sri Lanka’s increased VAT to be applied from Nov 01
Oct 28, 2016 (LBO) – Inland Revenue Department said the changes to VAT and NBT will be implemented with effect from November 01. Releasing a statement, its …