The annual gratuity provision of Regional Plantation Companies (RPCs) will increase by an average of between Rs.175-225 million per company as a result of recent wage hike, according to the Planters Association of Sri Lanka.
Despite numerous attempts by the Central Bank to justify the country’s current gross external reserve position that now stands at US $ 6.9 billion or equivalent to 4.5 months of imports, the International Monetary Fund (IMF) considers this to be relatively low by most criteria and has urged the authorities to strengthen the reserve position.
This article draws from a new Research Working Paper by the Institute of Policy Studies of Sri Lanka (IPS) titled ‘Incentivizing Foreign Investment in Sri Lanka and the Role of Tax Incentives’ by Anushka Wijesinha, Raveen Ekanayake and Gajen Mahendra. The publication is now available at IPS and leading bookstores.
It has been claimed that the recent wage increase granted to plantation sector workers has pushed the cost of production of Sri Lankan teas to the highest in the world, The wage increase,
From today onwards for seven weeks, we will be talking about leadership. For all who lead others or aspire to lead others, this short course could be a good guide. We have taken the concept from the best seller ‘The Leadership Challenge’ by Jim Kouzes and Barry Posner.
A growing and well performing market is vital for both investors and borrowers to maximize their returns. This growth can help improve investor confidence as well as uplift the economy as a whole by mobilizing savings to the most important investments in the country.
HSBC Sri Lanka is believed to have withdrawn from custodian banking services with the exception of high-end retail and corporate clients, as part the bank’s a global restructuring drive, Mirror Business learns.
Sri Lanka’s Central Bank reduced policy rates by 50 basis points to stimulate growth. Accordingly the repurchase rate will be placed at 7 percent and the reverse repurchase rate at 9 percent
Whether in Sri Lanka, Vietnam or Bangladesh, where a deadly factory collapse has killed over 500 people, the garment factory...
Sri Lanka's Central Bank is expected to keep key monetary policy rates steady for the fifth straight month on Friday, a Reuters poll showed, and analysts predict at least a quarter percentage point cut in June as both the central bank and the country's treasury secretary have signaled
Brandix Lanka Limited has announced the appointment of Priyan Fernando, currently a non-executive Director, as Chairman effective May 3, 2013
Sri Lanka's leading mobile services provider, Dialog Axiata PLC has posted a net profit of Rs.1.59 billion for the first quarter of FY13 against a net loss of Rs.531 million in the same quarter of the previous year, helped by reduced financial costs and tax refunds, the interim financial accounts released to the Colombo Stock Exchange showed
Sri Lanka Ports Authority (SLPA) Chairman Dr Priyath B. Wickrama has been elected the third Vice President of the International Association of Ports and Harbours (IAPH) for the period 2013-2015.
Shares rose for the fifth straight session yesterday to hit a new 1-1/2-year high, led by conglomerate John Keells Holdings despite foreign outflows as hopes of a rate cut at the Central Bank’s policy meeting later this week boosted local investor appetite for stocks.
Sri Lanka’s March export income drop moderated 2.8 percent year-on-year (YoY) to US $ 837 million, resulting the trade gap to narrow 29 percent YoY to US $ 704.5 million, the data released by the Central Bank showed.
“Why does the Shinkansen (Japan’s bullet train) travel much faster than an ordinary train?” was a question posed to us during a training programme in Japan.
None of our answers ranging from technology to the tracks were correct.
Sri Lankan shares closed at their highest in nearly 1-1/2 years yesterday, led by blue chips, due to an improved appetite for risky assets after heavy foreign buying amid hopes of a rate cut at the central bank’s policy meeting later this week.
The economically-active population aged 10 years and above- popularly known as a country’s labour force - declined in Sri Lanka by 1.1 percent to 8.465 million due to migration of economically active persons during 2012, the Central Bank annual report showed.
The price of the world’s most-used cooking oil, palm oil, is expected to remain volatile, given the high stock levels in Malaysia and Indonesia, a top official of a leading Malaysian oil palm cultivating company stated.
Asia’s rise is increasingly considered a foregone conclusion, yet the extent to which the region will prosper hinges on its ability to feed its voracious, ever-increasing appetite for energy.
While the opportunities are being created to optimize the utilization of the new airport through Free Trade Zone, Industrial Park, Convention Centre etc. it is also necessary to look at what could be done from the existing opportunities both to the west and east of Sri Lanka in the immediate term.
Page 3 of 74