Economic
Sampson Rajarata Tiles (Pvt.) Ltd which is a company under the umbrella of DSI group of companies has stepped into revive the Oddusuddan tile factory which is now in a run down state.
The Government has appointed six private sector members to the Board of Directors of the Sri Lanka Export Development Board, headed by top exporter Prabhash Subasinghe.
Inflation as measured by the year-on-year (YoY) change in the Colombo Consumer Price Index (CCPI) increased to 5.4% in January 2020 from 4.8% in December 2019.
Kia Motors Lanka Ltd a subsidiary of Kia Motors Corporation Korea , today Thursday 05 introduced two new products for the local market ata gala ceremony in Colombo
Many moneylenders have expressed support and we will be in a position to comfortably roll over our debt service commitment for 2020, senior economic adviser to the Prime Minister Ajith Nivard Cabraal said.
Leading Sri Lankan conglomerate Renuka Holdings celebrated the beginning of construction for its flagship development the Galle Face Icon with a ground breaking ceremony held on 30 January.
The aptitude to persist in the face of adversity might be what separates the every man and the great. This was the guiding principal of the founder of Kreation,’ Importers& Manufacturer of Hand loom Textiles Mr.K.Kumaravel.
The Attorney General’s Department yesterday directed the Criminal Investigation Department (CID) to obtain an arrest warrant from the Magistrate Court to arrest former SriLankan Airlines CEO Kapila Chandrasena and his wife due to their alleged links to a $ 2 million bribe from French plane-maker Airbus.
In the wake of startling revelation in forensic audit reports on billions of rupees loss caused to Employees Provident Fund (EPF), Central Bank (CB) is taking measures to prudently manage the funds by restricting its investments in the Colombo stock market.
Ceylon Graphene Technologies launched first ever Graphene applied Lead Acid Battery Technology together with Associated Battery Manufacturers (Cey) Ltd, leader in the industry of battery manufacturing in the region.
Sri Lanka’s tourist arrivals fell by 7.4% to 226,094 in January from a year earlier, largely influenced by the sharp drop in visitors from China with the outbreak of the novel coronavirus.
20 out of the 42 licensed finance companies in Sri Lanka, 20 are presently facing liquidity issues, with some of it at a high level of distress with high percentage of Non Performing Loans.
Sri Lanka’s economic growth will exceed 4 per cent this year due to notable improvement in business confidence caused by political stability and targeted measures taken by authorities to boost demand, Central Bank (CB) Governor Prof. W.D. Lakshman disclosed at a media conference in Colombo recently
Sri Lanka continued to conduct monetary policy in a forward looking manner within an enhanced monetary policy framework aimed at stabilising inflation in mid-single digit levels, while progressing rapidly towards transitioning to full fledged Flexible Inflation Targeting (FIT).
The World Bank and Sri Lanka yesterday identified several new areas of development cooperation in addition to World Bank-funded existing projects, including renewable energy, garbage disposal, watershed management, and developing spices for exports, the President’s Media Unit said in a statement.
Sri Lanka is entitled to receive fines from France based Airbus SE as this company agreed to resolve corruption charges with authorities in affected countries.
The Central Bank over the next few months is planning to reach out to as many as 20 finance companies that have been struggling financially to discuss solutions, including possible mergers, and may even take tough measures on those that have been in financial trouble for a number of years.
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