Making yet another significant landmark in the container handling saga of Sri Lanka, the state-owned Jaye Container Terminal (JCT) has received the 11,660 TEU capacity container carrier- ‘MV MSC LUCIANA’
The Government Securities market (G-Sec) comprising of treasury bills and bonds is expected to see a complete overhaul with the establishment of an e-trading platform for the secondary market, according the Central Bank (CB) Governor. This is amongst the many reforms and improvements planned for 2013.
The lack of a clear definition as to what constitutes a Small or Medium Enterprise (SME) in Sri Lanka may be working to the benefit of larger enterprises seeking tax concessions, according to private research firm, Verite Research.
Tourist arrivals reached a historic peak in December 2012 at a recorded 122,252 arrivals during the month, against 97,517 arrivals in 2011.
Budgetary allocations for Sri Lanka’s education sector fall short by approximately Rs.14.2 billion when compared to allocations presented in the Budget Speech by President Mahinda Rajapaksa, Verité Research, a private research firm, which provides strategic analysis for corporate and government institutions in Asia said in a report.
The New Zealand multinational dairy firm, Fonterra yesterday officially opened Sri Lanka’s first solar-powered milk chilling centre in Hanwella, demonstrating the company’s commitment to sustainable milk collection.
Cairn India, releasing the December quarter (3Q) results yesterday said its subsidiary, Cairn Lanka is advancing the drilling of phase II exploration well in Sri Lanka’s Mannar basin by three months.
In a dramatic turn of events, the non - VAT (Value Added Tax) paying smallscale suppliers are to step up their collective bargaining power against leading supermarket chains in the country, for urging them to absorb the 12 percent VAT imposed by the Budget 2013.
To make the most when interest rates are down, the government is to issue Treasury bills worth Rs.20 billion and Treasury bonds worth of Rs.9 billion through the auction that will take place today and tomorrow, the Public Debt Department of the Central Bank said.
For those investors who have been lucky enough to have survived one or more major market downturns, some lessons have been learned. For example, there always seem to be some firms that not only survive those downturns, but profit handsomely from them.
Business executives make decisions every day. Some decisions are straightforward and simple: For example - Is this report ready to send to my boss now? Should I allow this customer two weeks’ credit for his purchase? Simple decisions usually need a simple decision-making process.
Amidst government efforts to boost the agriculture sector through various incentives, the Central Bank has made it mandatory on banks to allocate percent of the loan book to finance the agriculture sector, a top banker noted.
The Monetary Board of Sri Lanka yesterday decided to keep the policy rates unchanged during the first month of 2013, following a 25 basis points rate cut last December to spur growth.
Stock market climbed to its highest close since early October yesterday as investors bought into risky assets due to falling interest rates while foreign inflows into blue chips bolstered turnover.The main share index closed up 1.08 percent, or 62.81 points, at 5,875.28, its highest close since Oct. 3.
Just how do you deal with a social menace that threatens the very foundations of a society? That’s the question that has...
The Central Bank (CB) yesterday renewed its calls for consolidation in the banking sector of the country, which is overcrowded with 24 Licensed Commercial Banks (LCBs) and nine Licensed Specialized Banks (LSBs), with over Rs.5 trillion worth assets.
Despite the popular belief that the value added tax (VAT) imposed on supermarkets and wholesalers by Budget 2013, so far, traders have not passed the additional cost to the customers, a top official of one of the country’s leading supermarket chains said.
The weakened economic growth in the South Asian region in 2012 is expected to pick up in 2013 with the Sri Lankan economy poised to grow at 6.8 percent, despite the Central Bank’s forecast of a 7.5 percent growth, a World Bank report said.
He says his approach does not confine only to regulate. “Education is a big part of my job,” he stresses, quite unlikely to the two regulators before him, who threw in the towel in a span of just one year, ducking to pressures from all over.
The skilled people who staff an organization bring the greatest competitive advantage for a firm. Finding the right fit talent is just the first step. To succeed in today’s ever-changing marketplace, optimizing the potential of the people in the business should be a top priority for any company.
Further hikes in fuel and electricity prices are expected in the coming months as a result of government’s attempt to curb losses incurred by stateowned Ceylon Petroleum Corporation (CPC) and Ceylon Electricity Board (CEB), thereby creating inflationary pressures, a report said.
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