dailymirror.lk http://dailymirror.lk/RSS_Feeds/business-main The only Sri Lankan newspaper with round the clock news updates - Dailymirror Online Edition en-us rangazone.r@gmail.com Copyright 2018 Hotel Show Colombo 2018 http://www.dailymirror.lk/152987/Hotel-Show-Colombo- http://www.dailymirror.lk/152987/Hotel-Show-Colombo- The 20th edition of the Hotel Show Colombo 2018 – organized by the Ceylon Hotel School Graduates Association (CHSGA) together with event partner CDC Events, was opened by Prime Minister Ranil Wickremesinghe at the BMICH yesterday. Picture shows Tourism Minister John Amaratunga making inquiries about some products on display. 

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Sat, 21 Jul 2018 00:12:30 +0000
Sri Lanka unveils 5-year National Export Strategy http://www.dailymirror.lk/152961/Sri-Lanka-unveils-year-National-Export-Strategy http://www.dailymirror.lk/152961/Sri-Lanka-unveils-year-National-Export-Strategy Sri Lanka yesterday unveiled the five-year National Export Strategy (NES), a blueprint for achieving US $28 billion in exports by 2022, aiming to facilitate a sustainable transition to a higher middle-income country. 

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Fri, 20 Jul 2018 10:18:00 +0000
State-run Lanka Sathosa expects to return to black this year http://www.dailymirror.lk/152882/State-run-Lanka-Sathosa-expects-to-return-to-black-this-year http://www.dailymirror.lk/152882/State-run-Lanka-Sathosa-expects-to-return-to-black-this-year Lanka Sathosa will return to profits this year amid the cost-cutting initiatives and focus on high-yielding grocery sales, according to the head of Sri Lanka’s state-run supermarket chain.

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Thu, 19 Jul 2018 00:00:55 +0000
Navin in Japan to resolve tea issues http://www.dailymirror.lk/152849/Navin-in-Japan-to-resolve-tea-issues http://www.dailymirror.lk/152849/Navin-in-Japan-to-resolve-tea-issues Plantation Industries Minister Navin Dissanayake is currently in Japan to find solutions to the problems faced in exporting Sri Lankan tea to Japan due to its residue levels. Japan has introduced a set of revise

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Wed, 18 Jul 2018 09:41:18 +0000
Govt. to bring amendments to new IRA in six weeks http://www.dailymirror.lk/152782/Govt-to-bring-amendments-to-new-IRA-in-six-weeks http://www.dailymirror.lk/152782/Govt-to-bring-amendments-to-new-IRA-in-six-weeks Sri Lanka plans to bring several amendments to the new Inland Revenue Act (IRA) within next six weeks, following the emergence of several discrepancies during the implementation of the act, Finance and Mass Media Minister Mangala Samaraweera said.

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Tue, 17 Jul 2018 00:03:52 +0000
Ranil tells State banks to look at business plans, not assets http://www.dailymirror.lk/152745/Ranil-tells-State-banks-to-look-at-business-plans-not-assets- http://www.dailymirror.lk/152745/Ranil-tells-State-banks-to-look-at-business-plans-not-assets- State banks should change its stance specially when it comes to lending, and thereby should stop focusing on the assets which an entrepreneur possesses but instead should look at the viability of the project presented by him/her,” Prime Minister Ranil Wickremesinghe said yesterday. 
Wickremesinghe expressed this sentiment

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Mon, 16 Jul 2018 10:03:06 +0000
Sri Lanka to revise fuel prices every month http://www.dailymirror.lk/152678/Sri-Lanka-to-revise-fuel-prices-every-month http://www.dailymirror.lk/152678/Sri-Lanka-to-revise-fuel-prices-every-month Sri Lanka is to adjust fuel prices every month to reflect the world market prices of fuel through the announced “fuel pricing formula”. 
Addressing a m

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Sat, 14 Jul 2018 00:34:16 +0000
US firms here concerned by policy instability, report says http://www.dailymirror.lk/152644/US-firms-here-concerned-by-policy-instability-report-says- http://www.dailymirror.lk/152644/US-firms-here-concerned-by-policy-instability-report-says- Sri Lanka scores low on providing a conducive business environment for US companies operating in the country owing to policy instability while conditions for attracting For

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Fri, 13 Jul 2018 09:59:35 +0000
HSBC says multilateral trading system would survive US-China trade war http://www.dailymirror.lk/152593/HSBC-says-multilateral-trading-system-would-survive-US-China-trade-war http://www.dailymirror.lk/152593/HSBC-says-multilateral-trading-system-would-survive-US-China-trade-war HSBC, the market leader in global trade finance, expressed confidence that the World Trade Organisation’s (WTO) rule-based multilateral trading system is likely to survive the current trade war between the US and China with some changes. 

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Thu, 12 Jul 2018 09:55:13 +0000
Declining ethics, morals blamed for businesses going behind politicos http://www.dailymirror.lk/152529/Declining-ethics-morals-blamed-for-businesses-going-behind-politicos- http://www.dailymirror.lk/152529/Declining-ethics-morals-blamed-for-businesses-going-behind-politicos- The decline of ethics and morals in Sri Lanka’s business community has led businesses to heavily depend on excessive lobbying to politicians to gain “favour and unfair advantage” over the competitors, a leading shipping and logistics industry figure lamented. 

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Wed, 11 Jul 2018 10:22:00 +0000
National Export Strategy gets Cabinet approval http://www.dailymirror.lk/152450/National-Export-Strategy-gets-Cabinet-approval http://www.dailymirror.lk/152450/National-Export-Strategy-gets-Cabinet-approval Sri Lanka’s Cabinet of Ministers has approved the National Export Strategy (NES)—a five-year strategy aimed at increasing exports and generating enhanced revenue for Sri Lanka’s small and medium enterprises and exporters, a communiqué by the Export Development Board (EDB) said. 
The EDB, Sri Lanka’s apex body for export promotion, said the implementation of the NES would increase Sri Lanka’s export revenue to US $ 28 billion by 2022.

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Tue, 10 Jul 2018 00:00:39 +0000
Central Bank says relationship between credit and economic growth weakening http://www.dailymirror.lk/152421/Central-Bank-says-relationship-between-credit-and-economic-growth-weakening- http://www.dailymirror.lk/152421/Central-Bank-says-relationship-between-credit-and-economic-growth-weakening- The Central Bank has urged the government to put more weight on factor market reforms, improving investment climate and capitalising the country’s geographical location through trade policy in order to boost future economic growth, as the relationship between credit growth and economic expansion is on a weakening trend, while the loosening of monet

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Mon, 09 Jul 2018 10:08:21 +0000
CB stands pat, says low rates will support growth http://www.dailymirror.lk/152347/CB-stands-pat-says-low-rates-will-support-growth- http://www.dailymirror.lk/152347/CB-stands-pat-says-low-rates-will-support-growth- The Central Bank left its key policy rates unchanged as expected yesterday, saying a low rates environment and stabilising inflation will support an economy in the face of a fragile rupee currency.

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Sat, 07 Jul 2018 00:25:00 +0000
Treasury Secy. reveals shocking state of State-owned enterprises http://www.dailymirror.lk/152305/Treasury-Secy-reveals-shocking-state-of-State-owned-enterprises- http://www.dailymirror.lk/152305/Treasury-Secy-reveals-shocking-state-of-State-owned-enterprises- Successive Sri Lankan governments have pumped in a colossal Rs.1, 150 billion for the upkeep of the strategically-important State-owned Enterprises (SOEs) up to 2017, the Finance and Mass Media Ministry Secretary Dr.R.H.S. Samaratunga said. 
He said this during a conference held for the chairmen

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Fri, 06 Jul 2018 09:51:41 +0000
Dhammika proposes govt. to re-evaluate investment policies http://www.dailymirror.lk/152232/Dhammika-proposes-govt-to-re-evaluate-investment-policies http://www.dailymirror.lk/152232/Dhammika-proposes-govt-to-re-evaluate-investment-policies The government may need to re-evaluate the effectiveness of the recently introduced targeted capital allowances under the new Inland Revenue Act that replaced the tax holidays to attract both local and foreign investments, Vallibel One PLC Chairman and business tycoon Dhammika Perera said. 

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Thu, 05 Jul 2018 00:02:42 +0000
Sri Lanka’s external debt stock rises to US$ 31.6bn by end of April http://www.dailymirror.lk/152194/Sri-Lanka-s-external-debt-stock-rises-to-US-bn-by-end-of-April- http://www.dailymirror.lk/152194/Sri-Lanka-s-external-debt-stock-rises-to-US-bn-by-end-of-April- Sri Lanka’s total outstanding external debt stock has increased by 23.3 percent year-on-year (YoY) to US $ 31.6 billion at the end of April this year, compared to US $ 25.61 billion at the end of April 2017, according to 2018 Mid-Year Fiscal Position Report of the Finance and Mass Media Ministry. 
The overall outstanding 

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Wed, 04 Jul 2018 09:44:09 +0000
CPC introduces low-emission Euro 4 fuel to Sri Lanka http://www.dailymirror.lk/152115/CPC-introduces-low-emission-Euro-fuel-to-Sri-Lanka http://www.dailymirror.lk/152115/CPC-introduces-low-emission-Euro-fuel-to-Sri-Lanka Ceylon Petroleum Corporation (CPC) yesterday unveiled the country’s first Euro-spec fuel dispenser and launched European Emission Standard Euro 4 fuel, at a launch ceremony held at C.F. De Mel & Sons Filling Station, in Colombo 2.

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Tue, 03 Jul 2018 00:00:10 +0000
Trouble continues to brew in Ceylon Tea cup http://www.dailymirror.lk/152083/Trouble-continues-to-brew-in-Ceylon-Tea-cup- http://www.dailymirror.lk/152083/Trouble-continues-to-brew-in-Ceylon-Tea-cup- Ceylon tea continues to face major hurdles this year due to ad-hoc policies pursued by the State, government-red-tape, irresponsible actions of certain stakeholders and volatile conditions of key export markets, the umbrella organisation of Ceylon Tea, the Colombo Tea Traders’ Association (CTTA) highlighted. 
Addressing the 124th AGM of (CTTA) last week, CT

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Mon, 02 Jul 2018 00:25:37 +0000
PM highlights need to transform SL’s foreign finance to investments http://www.dailymirror.lk/152032/PM-highlights-need-to-transform-SL-s-foreign-finance-to-investments http://www.dailymirror.lk/152032/PM-highlights-need-to-transform-SL-s-foreign-finance-to-investments Delivering the keynote address at the Saman Kelegama Memorial Conference yesterday, Prime Minister Ranil Wickremesinghe noted that Sri Lanka has to address weaknesses in trade competitiveness, eliminate trade barriers, tackle anti-dumping legislation, and help domestic industries become competitive. 

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Sat, 30 Jun 2018 00:47:36 +0000
A bird’s-eye view of the Chinese-funded Colombo Port City http://www.dailymirror.lk/151962/A-bird-s-eye-view-of-the-Chinese-funded-Colombo-Port-City http://www.dailymirror.lk/151962/A-bird-s-eye-view-of-the-Chinese-funded-Colombo-Port-City A bird’s-eye view of the Chinese-funded Colombo Port City, which is under construction. An explosive New York Times new report this week shed light on alleged Chinese involvement in Sri Lanka’s domestic politics, and the International Monetary Fund last week cautioned Sri Lanka to handle Chinese-funded mega projects with care

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Fri, 29 Jun 2018 00:25:17 +0000