Economic

A self- powered housing model for low income households will be devised with the aim of providing best architectural housing structure with the use of maximum daylight for low income households in Sri Lanka.

The Government is set to move a resolution in Parliament next week to alter the limits of the Administrative District of Colombo by the inclusion of the reclaimed area of land known as ‘Port City Colombo’.

Asian Development Bank (ADB) has stepped in to assist the electrification and double tracking of the Kelani Valley Line in 2020. In addition, ADB will assist in developing Main Line and Coastal Line too.

Carmart (Pvt) Ltd, the sole distributor in Sri Lanka for the world-renowned European vehicle brand Peugeot has introduced an attractive and one-of-a-kind offer.

REUTERS: Shares gained for the fifth straight session on Monday to hit a nearly three-month closing high, as foreign fund inflows hit a more than seven-year high due to a block deal, while the rupee ended marginally lower.

The Government has taken a number of new initiatives to develop tourist hotspots in the country to facilitate and encourage more tourists to visit Sri Lanka.

Bank of Ceylon has decided to raise Rs. 12 billion via a private placement of debentures.

Colombo International Container Terminals (CICT), the joint venture between China Merchants Holding International and Sri Lanka Port Authority has become the largest green terminals in South Asia.

National Savings Bank (NSB) has received the coveted Payment Card Industry Data Security Standard (PCI-DSS) certification, accepted worldwide.The Bank received the certificate of compliance for PCI-DSS Version 3.2.1from Qualified Security Assessor (QSA), SISA. The PCI Security Standards Council (PCISSC), the governing body of PCI-DSS, is a global organization for promoting Payment Card Industry Standards for the safety of cardholder data across the globe.

Sri Lanka’s manufacturing activities expanded at a higher rate while services sector recorded a recovery with the expansion in new businesses and business activity last month following the Easter terror set back, Central Bank revealed.

Sri Lanka’s business prospect of coir, the golden fibre, is now looking ahead of times with the initiating of traditional fibre mill modernisation programme for the first time countrywide by Tropicoir Lanka (Pvt) Ltd, a leading exporter of coir based products.

Sri Lankan entrepreneurs are to be made aware of raising equity based capital, funding requirement and growth prospects to improve their enterprises.

Government revenue as a proportion of GDP has been on a declining trend and it is inadequate to meet its committed current expenditure and debt servicing costs.

In the highly disruptive phase of Sri Lanka’s economy with elections around the corner, the Finance Ministry has embarked on a prudent path in bringing down large unproductive conspicuous public expenditure, official sources said.

Sri Lanka has been ranked as the ‘World’s Best Island’at the influential Travel + Leisure magazine’s annual awards scheme judged by readers’ survey.

Energy and Business Development Minister Ravi Karunanayake yesterday criticised the Finance Ministry for not releasing Rs. 81 billion due to the Ceylon Electricity Board (CEB) so it could settle dues to the Ceylon Petroleum Corporation (CPC).

Sri Lankan economy is now recovering gradually at a relatively healthy rate of 3.7 per cent (year-onyear) during the first quarter 2019, compared to 1.8 per cent recorded in the fourth quarter, following the Easter Sunday attacks, Central Bank announced.

Airport and Aviation Services (Sri Lanka) Ltd (AASL) has been appointed as the Service Provider to operate and maintain the Palali Airport and other aeronautical services under the Civil Aviation Act, No.14 of 2010, after development of the airport.