Shortage of pharmaceutical supplies caused by poor exchange rate handling: Ceylon Chamber

The inability of government institutions to be proactive in the face of increased exchange rates is causing a shortage of pharmaceutical supplies in Sri Lanka, the Ceylon Chamber of Commerce (CCC) Import Section said.

D. Samson & Sons holds conventions for Batticaloa, Kegalle, Ratnapura dealers

The end of October proved to be a most fruitful period for D. Samson & Sons (Pvt.) Ltd as it hosted its annual dealer conventions in Ratnapura and Batticaloa.  The primary goal of these conventions was to recognize and appreciate the services of the dealers in Batticaloa, Kegalle and Ratnapura. Twenty of the best

China has contributed US $ 10bn to Lanka: Ambassador

China has contributed almost US $ 10 billion to Sri Lanka so far while Sri Lanka’s strategic location is not such a unique advantage to the country said the mainland, while Sri Lanka on its part, called Chinese industries to set up here and gain faster access to South and West Asia. 

DHL delivers Rugby World Cup 2015 dream to Lankan player

DHL, the world’s leading express and logistics provider, has delivered a dream trip to Harsha Samarasinghe, an aspiring schoolboy-rugby player, as he became part of rugby history by being the only Sri Lankan to deliver the official Match Ball at Rugby World Cup 2015 (RWC 2015) in London.

More than 100 teams compete at Combank Quiz 2015

More than 100 teams from branches and departments of Commercial Bank of Ceylon PLC competed at Combank Quiz 2015 held recently at Waters Edge. The keenly contested quiz, which was held for the 15th consecutive year, comprised of three intense rounds of questions covering areas such as banking, sports, 

CIMA’s Tour de Colombo concludes

CIMA’s Tour de Colombo, held for the second consecutive time, concluded amidst much camaraderie and enthusiasm.  This year, 39 teams participated with Team Tycoons emerging as the winner, with a trip to Bangkok for all team members as the winners’ prize. Team Cook 

Ceramics and tile import duty revised

Finance Minister Ravi Karunanayake proposed to liberalize the ceramics and tile industry as he had promised months earlier.

Wholesale and retail trade excluded from VAT

Finance Minister Ravi Karunanayake said yesterday the wholesale and retail trade would be excluded from Value Added Tax (VAT).

Overhaul in land, exchange control policies to lure investments

Finance Minister Ravi Karunanayke yesterday proposed a number of measures to improve the country’s investment climate.

People’s Insurance announces IPO

People’s Insurance Ltd, managed by People’s Leasing and Finance PLC is offering to sell shares on the Colombo Stock Exchange (CSE) in an Initial Public Offering (IPO).

Many incentives for plantation companies

The Regional Plantation Companies (RPCs) and the country’s coconut industry will be receiving a number of concessions, including tax holidays and extensions to leases.

Govt. sets tea hub proposal in motion

The government will be allowing the tea industry to set up a tea hub for the importation and blending of tea in Sri Lanka, Finance Minister Ravi Karunanayake said. “With the aim of developing Sri Lanka as a tea hub,

Cap on finance company deposits, senior citizen deposit cap lifted up to Rs.1.5mn

The budget 2016 proposed to introduce a ceiling for the interest rates offered for deposits by non-bank finance companies (NBFIs), in a bid to prevent undue concentration of deposits in the sector. 

Efforts underway for early harvest on Indo-Lanka non-tariff barriers

In accordance with the outcome of discussion between Prime Ministers Ranil Wickremesinghe and Narendra Modi, during the former’s visit to India, negotiations are underway to sign a framework for the proposed Indo-Lanka Joint Economic and Technology

Banks barred from leasing activities

The vehicle leasing business by the Licensed Commercial Banks (LCBs) is to be completely barred with effect from June 01, 2016 as the government considers it as a distraction to the normal banking business

Corporate and personal taxes to be restructured; sin industries to be further taxed

The corporate and personal taxes have been reformed while the sin industries will be further taxed, Finance Minister Ravi Karunanayake said. “I propose to restructure the present corporate income tax rate structure to a two-rate band system with a higher rate of 30 percent and a standard rate of 15 

Milo brings mothers and kids together with ‘Mom, Me and My Milo’ campaign

Milo, the nourishing energy beverage brand, has been synonymous with school sports in Sri Lanka for over three decades. In a mission to encourage children to embrace physical activity, Milo now takes another big leap by offering children the chance to win as many as 1000 mountain bikes through the ‘Mom, Me and My Milo’ campaign. 

Lagna Wasanawa delivers early Christmas this year

The Development Lotteries Board, dedicated to create millionaires, has organized a special draw to give out many prizes in the popular lottery, ‘Lagna Wasanawa’.

Tradlanka and Hain Celestial introduce Tilda Basmati Rice to Sri Lanka

Tilda, a renowned rice brand, entered  the Sri Lankan store shelves recently with a new line of Basmati rice products, that is grown and harvested at the foothills of Himalayas.

Dr. Prasantha Jayamanna bags Apple dealership for tabZ

Expressing its confidence in the country’s most tech savvy, digital hub, Apple Inc. recently appointed tabZ as an authorized reseller for its full range of iPhones, iPads and all related accessories in Sri Lanka. Located on the Lower Ground Floor at Unity Plaza, Colpetty, tabZ will now retail the iPhone 6S,

Industrial Gases pioneers CO2 Liquid Gas production from molasses fermentation process

Industrial Gases Pvt. Ltd. (IGL) an innovative and efficient provider of high quality industrial, medical and specialty gases, signed a MOU with Sri Lanka Sugar Co. (A 100 percent Government owned entity), in pioneering a project involving the installation of its own plant with state-of-the-art environmental-friendly 

United Motors group profits up 162% to Rs.545 mn

United Motors Group recorded a strong performance in the face of market challenges with a profit of Rs.545 million for the quarter ended 30th September 2015 in comparison to Rs.208 million recorded during the same period last year which is a 162 percent increase. 

Spinning around with Murali – an evening with the world record holder

Muttiah Muralitharan and Management go hand-in-hand.  The world record holder of wickets in Tests, an unbelievable 800, held the very essence of sound management in his magical spin fingers and used it to good effect in his 133 Tests career which spanned 18 years. 

EASL welcomes PM’s competitive foreign exchange policy proposal

The Exporters Association of Sri Lanka (EASL) yesterday welcomed Prime Minister Ranil Wickremesinghe’s proposal to adopt a competitive foreign exchange policy that will encourage exports.

EU Maritime Affairs and Fisheries technical dialogue mission concludes visit to Colombo

A technical dialogue mission from the European Union’s Directorate General for Maritime Affairs and Fisheries concluded a visit to Colombo this week

Harsha calls for evidence-based policy making at top think tank meeting

Deputy Minister of Foreign Affairs Harsha de Silva delivering the keynote speech at the 5th South Asia Regional Conference of the Think Tank Initiative in Gurgaon, India, had  called for stronger ties between think tanks and policy makers. 

It’s not what you get, but what you make out of it: INFOTEL committee chief

Various companies and institutions organize exhibitions and expositions at a professional level as a mechanism to create public awareness and also as a marketing strategy to promote their goods and services amongst a wider segment of customers.

Overregulation of tobacco and liquor industries won’t bring desired results: CTC official

Overregulation and excessive taxation of the tobacco and liquor industries will cause the opposite of the desired effect, Ceylon Tobacco Company PLC (CTC) Corporate and Regulatory Affairs Director Dinesh Dharmadasa cautioned the government.

Ceylon Chamber hails trade document to be signed with India mid next year

The trade document which will be signed with India in mid-2016 will be a framework agreement to negotiate and eventually sign the Broader Economic and Technology Partnership, and the new regime is being transparent on trade negotiations, the Ceylon Chamber of Commerce (CCC) said.

New directors no impediment to Grand Hyatt construction: ministry

Public Enterprise Development Ministry on Wednesday in a statement assured that despite the appointment of a new director board, the construction work of the Grand Hyatt Hotel project would proceed unimpeded.