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 2017 Politics flare up at economic forum http://www.dailymirror.lk/142159/Politics-flare-up-at-economic-forum http://www.dailymirror.lk/142159/Politics-flare-up-at-economic-forum Emotions ran high at the seminar on ‘Sri Lankan Economy: Future Policy Direction’ organised by the Sri Lanka Economic Association (SLEA), with those of differing political economic leanings finding it difficult to find common ground.

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Thu, 14 Dec 2017 00:00:36 +0000
Politics flare up at economic forum http://www.dailymirror.lk/142078/Politics-flare-up-at-economic-forum http://www.dailymirror.lk/142078/Politics-flare-up-at-economic-forum Emotions ran high at the seminar on ‘Sri Lankan Economy: Future Policy Direction’ organised by the Sri Lanka Economic Association (SLEA), with those of differing political economic leanings finding it difficult to find common ground.

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Wed, 13 Dec 2017 00:00:36 +0000
Vehicle service industry lobbying to reverse pro-EV policy? http://www.dailymirror.lk/142007/Vehicle-service-industry-lobbying-to-reverse-pro-EV-policy- http://www.dailymirror.lk/142007/Vehicle-service-industry-lobbying-to-reverse-pro-EV-policy- The vehicle service industry may be lobbying to reverse the pro-electric vehicle (EV) policy and may continue to engage in predatory business practices to counter the lower revenues they would receive in the future due to new government policies,  a consumer group warned. 

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Tue, 12 Dec 2017 00:00:55 +0000
Govt. receives first port payment from China-led company http://www.dailymirror.lk/141924/Govt-receives-first-port-payment-from-China-led-company http://www.dailymirror.lk/141924/Govt-receives-first-port-payment-from-China-led-company Prime Minister Ranil Wickremesinghe receiving the US$292 million cheque as the first payment from China Merchants Port Holdings for taking over the commercial operations of the Hambantota Port this Saturday. 
The entire deal, worth US$ 1.12 billion, will see the Chinese company having 70 percent of the effective shareholding of the port for 99 years.

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Mon, 11 Dec 2017 09:46:14 +0000
Play Expo 2017 http://www.dailymirror.lk/141854/Play-Expo- http://www.dailymirror.lk/141854/Play-Expo- Play Expo 2017, the country’s largest video gaming and e-sports championship with the largest gathering of geeks,

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Sat, 09 Dec 2017 00:00:42 +0000
SriLankan: Govt.’s litmus test for SOE restructuring? http://www.dailymirror.lk/141814/SriLankan-Govt-s-litmus-test-for-SOE-restructuring- http://www.dailymirror.lk/141814/SriLankan-Govt-s-litmus-test-for-SOE-restructuring- The fate of the ailing national carrier, Sri Lankan Airlines, will be decided soon as the airline has now become a litmus test for the government to prove its commitment towards restructuring of loss making state-owned enterprises (SOEs)—one of the key conditions of the ongoing three-year programme Sri Lanka has with the International Monetary Fund (IMF). 

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Fri, 08 Dec 2017 00:59:51 +0000
Leo Burnett does it again by winning the Gold at Campaign Asia Agency of the Year http://www.dailymirror.lk/141707/Leo-Burnett-does-it-again-by-winning-the-Gold-at-Campaign-Asia-Agency-of-the-Year http://www.dailymirror.lk/141707/Leo-Burnett-does-it-again-by-winning-the-Gold-at-Campaign-Asia-Agency-of-the-Year Leo Burnett Sri Lanka, the local office of the global advertising network Leo Burnett Worldwide, repeated its success and completed a hat-trick

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Thu, 07 Dec 2017 12:27:17 +0000
ComBank wins overall award at CA Sri Lanka Annual Report Awards http://www.dailymirror.lk/141739/ComBank-wins-overall-award-at-CA-Sri-Lanka-Annual-Report-Awards http://www.dailymirror.lk/141739/ComBank-wins-overall-award-at-CA-Sri-Lanka-Annual-Report-Awards Commercial Bank PLC on Tuesday won the ‘Cyril Gardiner Memorial Trophy’ Gold award for Overall Excellence in Annual Financial Reporting at the 53rd Annual Report Awards 2017,

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Thu, 07 Dec 2017 00:00:34 +0000
Sri Lanka Insurance puts up strong show for September quarter http://www.dailymirror.lk/141669/Sri-Lanka-Insurance-puts-up-strong-show-for-September-quarter http://www.dailymirror.lk/141669/Sri-Lanka-Insurance-puts-up-strong-show-for-September-quarter Sri Lanka Insurance, the leading insurance company in the island, has put up a strong performance for the period ending September 
30, 2017. 

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Wed, 06 Dec 2017 09:54:30 +0000
LVL Energy Fund announces Rs.1.2bn IPO to fund expansions http://www.dailymirror.lk/141585/LVL-Energy-Fund-announces-Rs-bn-IPO-to-fund-expansions http://www.dailymirror.lk/141585/LVL-Energy-Fund-announces-Rs-bn-IPO-to-fund-expansions
Leading energy company and a subsidiary of Lanka Ventures, the LVL Energy Fund, Limited officially announced a Rs.1.2 billion Initial Public Offering (IPO) yesterday to fund its strategic expansion and growth in the renewable energy sector.

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Tue, 05 Dec 2017 00:47:18 +0000
Tower tax could result in exit of major foreign investors: operators http://www.dailymirror.lk/141511/Tower-tax-could-result-in-exit-of-major-foreign-investors-operators- http://www.dailymirror.lk/141511/Tower-tax-could-result-in-exit-of-major-foreign-investors-operators- The implementation of the budget proposal to slap every cellular tower in the country with a levy of Rs.200,000 per month—payable by mobile operators—could result in the possible exit of the major foreign investors from the local telecommunication market, the industry warns. 

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Mon, 04 Dec 2017 09:50:31 +0000
Govt. to launch probe on Treasury bond issues between 2008-2014 period: PM http://www.dailymirror.lk/141405/Govt-to-launch-probe-on-Treasury-bond-issues-between-period-PM- http://www.dailymirror.lk/141405/Govt-to-launch-probe-on-Treasury-bond-issues-between-period-PM- Prime Minister Ranil Wickremesinghe yesterday told Parliament that the government will launch a fresh investigation into the Treasury bond issues between 2008-2014 period, once all the activities of the Presidential Committee of Inquiry, which was appointed to investigate into the alleged bond market malpractices post-2015, is concluded. 

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Fri, 01 Dec 2017 00:00:30 +0000
Apparel industry lowers export target over delays in regaining GSP Plus http://www.dailymirror.lk/141355/Apparel-industry-lowers-export-target-over-delays-in-regaining-GSP-Plus- http://www.dailymirror.lk/141355/Apparel-industry-lowers-export-target-over-delays-in-regaining-GSP-Plus- The apparel industry has set its sights lower for the medium term with a US $ 8 billion annual export target to be reached by 2022 over the delays in regaining the duty free access to the European Union (EU) via GSP Plus and due to the economic and political uncertainties in key Sri Lankan export markets.

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Thu, 30 Nov 2017 00:00:03 +0000
President against shipping industry liberalisation: minister http://www.dailymirror.lk/141249/President-against-shipping-industry-liberalisation-minister- http://www.dailymirror.lk/141249/President-against-shipping-industry-liberalisation-minister- Ports and Shipping Minister Mahinda Samarasinghe yesterday told Parliament that President Maithripala Sirisena and the Sri Lanka Freedom Party (SLFP) strongly oppose the move to liberalise the shipping and freight forwarding industries, which was proposed in the Budget 2018.

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Wed, 29 Nov 2017 09:15:33 +0000
Higher oil bill overshadows strong growth in exports http://www.dailymirror.lk/141193/Higher-oil-bill-overshadows-strong-growth-in-exports- http://www.dailymirror.lk/141193/Higher-oil-bill-overshadows-strong-growth-in-exports- Despite a double-digit growth in exports revenue, surpassing the US $ 1 billion mark, Sri Lanka’s trade deficit in September widened due to higher fuel and rice imports, the data released by the Central Bank showed.

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Tue, 28 Nov 2017 00:39:23 +0000
Sri Lanka’s FTA hype likened to treating one’s neck for stiff ankle http://www.dailymirror.lk/141112/Sri-Lanka-s-FTA-hype-likened-to-treating-one-s-neck-for-stiff-ankle- http://www.dailymirror.lk/141112/Sri-Lanka-s-FTA-hype-likened-to-treating-one-s-neck-for-stiff-ankle- At a time when calls for more Free Trade Agreements (FTAs) are echoing from all corners, a recent study by a top academic says that bilateral trade pacts are not the answer for the country’s ailing exports, and attempts towards such is a waste of time and resources for nothing in return. 

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Mon, 27 Nov 2017 09:27:06 +0000
Sounds of Christmas by Cotton Collection http://www.dailymirror.lk/141089/Sounds-of-Christmas-by-Cotton-Collection http://www.dailymirror.lk/141089/Sounds-of-Christmas-by-Cotton-Collection The 24th of November saw the grand launch of Cotton Collection Christmas 10 campaign ‘Sounds of Christmas’ at their flagship store at No.143 Dharmapala Mawatha, 

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Sat, 25 Nov 2017 18:50:53 +0000
Singer Life Style Fiesta 2017 http://www.dailymirror.lk/141060/Singer-Life-Style-Fiesta- http://www.dailymirror.lk/141060/Singer-Life-Style-Fiesta- Singer Life Style Fiesta, the flagship event of Singer Sri Lanka opened yesterday at the BMICH. This year’s theme of the exhibition is ‘Live out Your Dream’, and the event will showcase more than 90 new products of different brand categories.      Pic by Kithsiri de Mel

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Sat, 25 Nov 2017 00:33:00 +0000
Trade deficit with India no big deal: economist http://www.dailymirror.lk/140973/Trade-deficit-with-India-no-big-deal-economist http://www.dailymirror.lk/140973/Trade-deficit-with-India-no-big-deal-economist Despite the hue and cry made by the public and a certain section of the business community on Sri Lanka’s trade deficit with its neighbouring giant, a top economist asserted such arguments do not show the real picture of the situation at hand and said one should not pay much attention to it. 

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Fri, 24 Nov 2017 09:22:39 +0000
Sri Lanka borrows US $ 350mn from ADB for roads, wind power park http://www.dailymirror.lk/140909/Sri-Lanka-borrows-US-mn-from-ADB-for-roads-wind-power-park http://www.dailymirror.lk/140909/Sri-Lanka-borrows-US-mn-from-ADB-for-roads-wind-power-park The Finance and Mass Media Ministry yesterday entered into two loan agreements with the Asian Development Bank (ADB) to borrow US $ 150 million for the development of 3400 kilometres (km) of rural roadways and US $ 200 million for the implementation of a 100 megawatt (MW) wind power generation project.

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Thu, 23 Nov 2017 00:00:17 +0000