Registrations of brand new and pre-owned vehicles plunged 44.9 percent Year-on-Year (YoY) to 23,544 registrations during the month of February, according to information analyzed by the local equities brokerage, J.B. Securities (Pvt) Ltd.
Brazil hopes to sign a bilateral accord with China to promote trade in their national currencies at next week’s BRICS summit of the world’s five emerging powers, Trade and Industry Minister Fernando Pimentel said.
The Treasury has blatantly and repeatedly violated section 89 of the Monetary Law Act over the last decade, failing to settle the loans temporary obtained from the Central Bank (CB), an Opposition Party legislator alleged.
Country’s sole power regulator has so far received around hundred responses from the public with regard to the call for written submissions on the proposed electricity tariff revision, likely to come in to effect by end of April.
Exports of Sri Lankan Tea dipped by 2.97 percent Year-on-Year (YoY) between January and February of this year to 43.9 million kilograms (kg) according to data analyzed by Ceylon Tea Brokers PLC.
The Independent Power Producers (IPPs) engaged in thermal power generation using furnace oil and diesel in Sri Lanka are likely to suffer a severe blow with the authorities resorting not to renew the power purchase agreements (PPAs) entered into with them.
Colombo will regain its reputation as the garden city of the East through the government’s on-going urban renewal projects, according to Secretary to the Ministry of Defence and Urban Development, Gotabaya Rajapaksa.
Sri Lanka is turning its newest international airport opening Monday into a tax-free zone to attract aviation-related industries, a top official said.
With United States-sponsored resolution on alleged human rights violations against Sri Lanka forth coming (March 22) in Geneva, the largest US importer of Sri Lankan apparels has sent a warning signal to local exporters who fail to comply with genuine software in international trade.
Amidst wide-ranging consultations to revise electricity prices by the Public Utilities Commission of Sri Lanka (PUCSL), the next most challenging task of the regulator appears to be fixing prices from petroleum profits, probably from the third quarter of this year, Mirror Business learns.
Sri Lanka’s tourist arrivals rose 13.4 percent yearon-year (YoY) to 97,411 in January, the unusually delayed data issued by the Sri Lanka Tourism Development Authority showed.
Hambana Petro Chemical Ltd (HPL), a firm owned by Peak Energy (Pte) Ltd of Singapore has recently signed agreements with the Sri Lanka Ports Authority (SLPA) to set up a plant to produce thermoplastic polymer resin at the Magam Ruhunupura Mahinda Rajapaksa Port (MRMR Port) in Hambantota.
High spirited Sri Lankans who crushed a so-called unbeatable terrorist outfit in 2009 has now set another world record by placing the country among the top boozing nations in the world, a study carried out by a local research firm showed.
Sri Lanka’s new motor vehicle registrations dipped 24.4 percent Year-on-Year (YoY) to 128, 126 units in 2012 amid higher import duties and slow economic growth.
Sri Lanka could slash its greenhouse gas (GHG) emissions by 19 percent of projected levels in 2020 at little or no long-term cost using an array of green power options, a new study from the Asian Development Bank (ADB) showed.
The Magampura Mahinda Rajapaksa Port is expected to generate turnover of up to Rs. 3.5 billion by the end of this year, according to Chairman Sri Lanka Ports Authority, Dr. Priyath Bandu Wickrama.
A detained consignment of more than 100 Ceylon tea containers valued at US $ 13 million has started arriving to the Iraqi market following bilateral trade actions by Iraqi and Sri Lankan governments.
The state of Sri Lanka’s economy has become the clear major concern for citizens between the ages of 20 and 45 over the next six months, according to the results of a poll conducted by Nielsen Sri Lanka.
The impending wage negotiations for plantation sector workers which are expected by mid-2013, coupled with recently imposed cess on exports of bulk tea, which led to much controversy, are expected to have a negative impact on the tea sector, which managed to show a slight improvement in 2012, according to a head of a leading plantation company.
Free trade zone trade unions warned of dire consequences for apparel sector workers if the government continues deviating investor attention to other sectors.
The Ceylon Electricity Board (CEB) has projected an operational loss of Rs.94 billion for the year 2013, which should be ultimately financed by the country’s Treasury, a Colombo-based think tank noted.
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