Pepper growers want Sri Lankan free trade pact quota scrapped

THE HINDU: The Consortium of Pepper Growers’ Organisation, Karnataka, Kerala and Tamil Nadu, has urged the Centre to levy 54 percent duty on imports from Sri Lanka under the South Asian Free Trade Area (SAFTA) and scrap the Indo-Sri Lankan Free Trade Agreement quantity of 2,500 tonnes.

Further tax concessions for state land leased for agriculture

The cabinet has taken a decision to award further tax concessions for state lands provided on a long-term lease basis for commercial agriculture. Land and Parliamentary Reforms Minister Gayantha Karunathilaka said such lands will be exempt from charge of three times as the annual tax and will be charged only 20 percent of the previous year’s tax amount, instead of the 50 percent tax increase in every five years.  

January tea output up 12%

REUTERS: Sri Lanka’s tea output in January rose 11.9 percent from a year earlier, due to favourable agro-climatic conditions and a lower base, the state-run Tea Board said on Tuesday. 

How to be in power and keep Rajapaksas at bay, top economist tells young UNP professionals

The Sri Lankan government is ready to implement a short-term reform process, which will generate short-term gains and help the government increase its acceptance among the voters in the run up to the 2020 elections, according to a senior government economic advisor.  

Apparel Industry Suppliers’ Exhibition in May

Bringing together suppliers and service organisations in the apparel industry in Sri Lanka, the Apparel Industry Suppliers’ Exhibition (AISEX) will be held from May 10-12, at the Sirimavo Bandaranaike Memorial Exhibition Centre (SBMEC). 

EDB holds seminar for electronics and electrical sector exporters

The Export Development Board (EDB) organised a seminar for the electronics and electrical sector exporters and potential exporters in Sri Lanka to make them aware on the recent developments of the industry and the market linkages and trade and tariff concessions in identified regional markets. About 35 participants from the electronics and electrical sector attended this seminar held at the EDB.

ExIm & Logistics Challenge Trophy launched

The Shippers’ Academy Colombo (SAC) in association with the Sri Lanka Export Development Board (EDB) has launched a new corporate quiz for the ExIm & Logistics Trophy for the first time.

SL to negotiate with China-backed AIIB for US $ 115mn loan

Sri Lanka plans to borrow US $ 115 million from the Asian Infrastructure Investment Bank (AIIB), a multilateral development bank that aims to support the building of infrastructure in the Asia-Pacific region backed by China, to implement an accelerated solid waste management project. A cabinet spokesperson yesterday said the proposed solid waste project, to be located in Aruwakkalu in Puttalam, would cost US $ 274 million.

Governor calls for audit regulators’ collaboration

Central Bank Governor Dr. Indrajit Coomaraswamy, who also spoke at the same event, called on audit regulators to collaborate amongst themselves to improve financial sector supervision.

Cabinet approved National Audit Bill will be in Parliament soon: Amunugama

The new National Audit Bill has just been approved by the Cabinet, and would be presented to Parliament soon, according to a senior minister, who stressed on the importance of quality audits in Sri Lanka.

CB says processing investment proposal by ETI directors

Neither confirming nor denying speculations that UK-based Lyca Group is nearing a deal to purchase ETI Group’s assets, the Central Bank Governor Dr.Indrajit Coomraswamy told Mirror Business that the Central Bank is still processing an investment proposal submitted by ETI directors.  

How to be in power and keep Rajapaksas at bay, top economist tells young UNP professionals

The Sri Lankan government is ready to implement a short-term reform process which will generate short-term gains and help the government increase its acceptance among the voters in the run up to the 2020 elections, according to a senior government economic advisor. 

Are Sri Lanka and the SAARC region capable of tackling any cyber threat?

Sophos Technologies was established in 1985 in the UK. For the last 32 years, the company has been built on pure technical sol

Asset sale by associate boosts Cargills December earnings

Diversified conglomerate Cargills (Ceylon) PLC (CARG) posted a Rs.827 million net profit for the quarter ended December 31, 2017 (3Q18), recording a growth of 30 percent from the corresponding quarter last year, due to the gains from its associate, Cargills Bank, made on the sale of one of its subsidiaries.

Stocks steady in dull trade; political woes weigh

REUTERS: Sri Lankan shares ended steady yesterday in thin trade amid political uncertainty after both parties in the ruling coalition suffered defeats in a local election earlier this month.

DIMO December net down 35% over slower vehicle sales

Slower vehicle sales saw the profits of Diesel & Motor Engineering PLC (DIMO) sliding over 35 percent during the December quarter (3Q18) compared to the corresponding quarter of the previous year (3Q17), the interim financial accounts released to the Colombo bourse showed.

Rupee falls on importer dollar demand

REUTERS: The Sri Lankan rupee edged down yesterday on importer dollar demand, while political uncertainty continued to weigh on investor sentiment, dealers said. The rupee ended at 155.40/50 per dollar, compared with Friday’s close of 155.10/20. The rupee hit a record low of 155.90 on Wednesday.

CB says yet to see results from ETI revival programme

The Central Bank is yet to see whether the measures taken through its six-month programme to increase the liquidity in the troubled ETI Group  are successful.

Fashion Bug bags Gold for Best Key Account Partner from Triumph

Fashion Bug, one of Sri Lanka’s leading retail clothing stores bagged the Gold award for ‘Best Key Account Partner’ at the recent Annual Sales Conference of Triumph International held on February 15th at the Grand Ballroom of Hilton Hotel, Colombo.

Chandana Builders triumphs with prestigious Shramabhimanai award

Recognised in Sri Lanka for its continued excellent workmanship and maintaining high standards in the construction industry, Chandana Builders was the proud recipient of the Shramabhimanai award recently.

Reunion Party of ex-Confifi Group Hotels in March

Seemingly the largest ex-hotel chain get together – The reunion party of Confifi Group Hotels will be held on March 17th 2018 from 7:00p.m. onwards at Raffles Residence, Pita Kotte.

JAT Holdings reigns supreme in accolade filled 2017

JAT Holdings (Pvt.) Ltd, successfully concluded an accolade filled 2017 including Managing Director Aelian Gunawardene winning the prestigious Platinum award at the 22nd Sri Lankan Entrepreneur of the Year 2017.

Turret opens at World Trade Center, downtown Colombo

Turret is today a designer store catering to the high-end customer for luxury watches, writing instruments and leather accessories.

Senani Products’ Jenika Senani wins big at SLCSMI Industrial Excellence Awards

Senani Products, Sri Lanka’s leader of Goraka cream was recently recognised by Sri Lanka Chamber of Small and Medium Industries (SLCSMI) as the winner of the Woman Entrepreneur award for ‘National Excellence’.

Thailand Week trade fair from March 9-11

Thailand Week, trade fair and business opportunity with Thailand is happening once again in Colombo from March 9-11. 

Artificial Intelligence Powered Dialog Voice Agent now on Google Assist

In line with its continuous efforts to advance technology and consistently provide users with a world-class customer service experience, Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, launched an app for Google Assistant. 

CIMA and ICCSL sign MoU to promote education

The Chartered Institute of Management Accountants UK Sri Lanka Branch recently joined hands with the International Chamber of Commerce Sri Lanka (ICCSL) to promote education, training and business. 

Ironman not just a triathlon, it’s sports tourism

Being held for the first time in the South Asian region, ‘Ironman 70.3’, a global triathlon brand is being hosted in Sri Lanka from February 22nd to 25th.

Hayleys Advantis Does the Heavy Lifting for IRONMAN 70.3 Colombo

Lending its expertise in end to end logistics management to ‘Sri Lanka Wonder of Asia IRONMAN 70.3 Colombo’, Hayleys Advantisannounced

Sampath Bank 4Q earnings surge over 50% on new loans, better margins

Stronger growth in new loans and better margin management amid challenging macro-economic conditions helped Sampath Bank PLC report some robust performance for the quarter ended December 31, 2017, the interim financial accounts released to the Colombo bourse showed.