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Sri Lanka must prioritize developing its human resources with continuous investments over hard infrastructure developments, to move forward with the increasing competition in the South Asian region, which is overshadowed by economies with large populations, according to the country’s junior finance minister.
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Ports, Shipping and Southern Development Minister Sagala Ratnayaka said the implementation of the proposed port tariff revision will be deferred until March 15 considering concerns raised by numerous industry stakeholders. The Cabinet of
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Maxims Holdings, a diversified Board of Investment (BOI) approved company opened its futuristic modern warehousing complex at Mulleriyawa yesterday. The brand new facility is built on a 4.5 acre land with a total investment of Rs.2 billion
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Sri Lanka plunged into a political crisis in October 2018 when President Maithripala Sirisena suddenly and unexpectedly sacked the sitting prime minister Ranil Wickremesinghe, his former partner in the National Unity Government formed in January 2015. It could not have come at a worse time for the Sri Lankan economy. In a peculiar turn of events,
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John Keells Hotels PLC, the resort sector arm of the John Keells group, reported lower revenue and profits for the quarter ended December 2018 (3Q19), mainly due to weak performance from the group’s Maldivian resorts. John Keells Hotels reported earnin
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Sri Lanka will soon replace the discriminatory Family Background Report (FBR) regulations imposed on female migrant workers leaving the country for foreign employment with a supportive family background plan scheme. Telecommunication, Foreign Em
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Sri Lanka Telecom PLC (SLT), the leading fixed line operator will access domestic banking sources to refinance its maturing foreign currency debt, Fitch Ratings said in its latest report on Asia-Pacific telecom sector. According to Fit
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An agreement was reached last Friday between the Employers’ Federation of Ceylon (EFC) and the estate sector trade unions to revise the collective agreement pertaining to plantation workers’ wage. Secretary General of The Planters’ As
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The government on realising the success of Enterprise Sri Lanka concessionary loan scheme is to introduce further concessionary loans to widen the schemes enabling the stakeholders to move towards next generation economic activities in their respective areas. Accordingly, migrant workers wi
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The 11th Footwear & Leather Fair opened at the BMICH yesterday. The events brings together exhibitors comprising manufacturers, suppliers and exporters who specialize in products like travel goods, footwear, leather goods, raw materials, machineries, chemicals, components and accessories and other services related to the sector. Picture shows former Export Development Board (EDB) Chief Indira Malwatte making inquiries about certain products o
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MUMBAI (AFP) - It was billed as the world’s cheapest car and shaped like a jelly bean but after a bumpy 10-year ride India’s Tata Nano is nearing the end of the road. Tata Motors, India’s top automaker, said yesterday that it could stop manufacturing and selling the vehicle from April next year due to new safety and emissions rules that would require major investment. “We may not invest in upgrading
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BEIJING (AFP) - Microsoft is still trying to figure out why its Bing search engine temporarily went offline in China, the company’s president said following speculation that it could have been blocked by censors. The US firm’s Chinese website, cn.b