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Sri Lankan LPG terminal secures debt funding

Sri Lankan conglomerate LAUGFS Gas has secured US$80mn in debt finance from Standard Chartered, for an LPG terminal in Hambantota. It marks the first private sector financing facility in Sri Lanka to be supported by Sinosure, the Chinese-state insurer. It will be built by China Huanqiu Construction and Engineering Corporation (HQC) and once completed, will…

(0)Comments | August 24, 2017 10:01 am

Sri Lankan shares fall for third straight day; blue chips drag

Reuters – Sri Lankan shares fell for the third straight session on Wednesday, hitting their lowest close in more than four months, as investors sold heavyweights amid continuing uncertainty over a proposed tax reform bill. The Colombo stock index fell 0.19 percent, or 12.05 points, to 6,383.27, its lowest close since April 18. The index…

(0)Comments | August 24, 2017 9:42 am

Facebook is Down

Facebook appears to have gone down in parts of the UK, leaving thousands of users unable to access their social media accounts. The reason for the crash remains unknown, but 53 per cent of users have reported a total blackout on the site. Facebook is yet to comment on the problem, or provide a fix,…

(0)Comments | August 23, 2017 6:29 pm

Switzerland’s Dufry awarded contract for BIA duty free shops

The cabinet of ministers have approved a proposal made by the Transport & Civil Aviation Minister Nimal Siripala de Silva, to award the second contract for the operation of duty free shops for next 05 years, as recommended by the standing Cabinet Appointed Procurement Committee, to Dufry AG of Switzerland.

(0)Comments | August 23, 2017 5:10 pm

Kia ranked No 1 automobile brand for quality in USA ranking

Kia has topped a USA ranking of global automobile brands assessed for quality, outperforming a prestigious list that includes luxury marques from some of top names in the industry.   This is the second successive year that the J. D. Power Initial Quality Study (IQS) has ranked Kia No. 1 on its prestigious ranking.  …

(0)Comments | August 23, 2017 5:00 pm

Sri Lanka Indonesia Business Council Holds its 24th AGM

Sri Lanka – Indonesia Business Council (SLIBC) which functions under the aegis of the Ceylon Chamber of Commerce held its 24th Annual General Meeting recently, at Movenpick Hotel, Colombo, re-electing Mr. Kalinga Wijesekara, Head of Marketing & Communications, Serendib Flour Mills (Pvt) Ltd. as the President of the SLIBC for a second term for 2017-2018….

(0)Comments | August 23, 2017 3:48 pm

A&E strategically aligns with CGS to improve productivity through tech

A&E, a global leader in premium quality industrial and consumer sewing thread, embroidery thread and technical textiles, announced this month its strategic alliance with CGS, a provider of business applications, enterprise learning and outsourcing services, to improve productivity, quality and employee motivation within manufacturing operations. A&E has long been committed to assisting with the challenges…

(0)Comments | August 23, 2017 12:08 pm

Dialog Axiata Trials 5G for the First Time in South Asia

Sri Lanka yet again showcased its dominance as the regional hub for telecommunications with Dialog Axiata demonstrating 5G (Generation) Technology for the first time in South Asia, paving the way for next generation wireless connectivity with speeds in excess of 35 Gbps (Gigabits Per Second). The ground-breaking 5G technology capability trial was carried out by…

(0)Comments | August 23, 2017 8:13 am

All Telco Operators agree to grant 10% bonus data on Internet Packages

Licensed Telecommunications Operators announced that all mobile and fixed line subscribers will be granted a 10% bonus usage on Internet Packages/cards as a special gesture to mark the removal of Telco Levy by the Government. Operators in a joint statement said that the removal of the Telco Levy on internet by the government is a…

(0)Comments | August 23, 2017 8:10 am

WTO tips hat to Sri Lanka after six years

World’s leading trade integrator has tipped its hat to Sri Lanka on the country’s economic performance in its latest Trade Policy Review (TPR)on the country–the most comprehensive international assessment executed across WTO body of members. In its TPR 2016, which has the final conclusions on the 164 member country review session in Geneva in 2016,…

(0)Comments | August 23, 2017 7:23 am