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The romance of manufacturing
Every few years, someone pens a lament about Sri Lanka’s lack of manufacturing. Economic growth through services is not real, they argue. In the most recent iteration, services are equated with illegal and immoral: casinos, prostitution, drug dealing. We have to get away from services and put our shoulders to the wheel to make Sri […]
New Phone
Oct 22, 2014 (LBO) – Micromax, a mobile handset company in India introduced a wide range of android smartphones to the local market targeting at lower spenders.œThe new smartphone range recently introduced to the local market is a valuable offering from Micromax in the budget Android segment, said Amit Mathur, Vice President,International Business of Micromax. […]
’s economic development:Official
Oct 22, 2014 (LBO) – Sri Lanka’s private security companies are important stakeholders and an integral element in the ongoing nation building exercise, an official said in a media release. Aluwihare said that all stakeholders should forge together to uplift the image of the industry as a whole. By consciously synergizing our efforts, we create […]
Sri Lanka stocks close down 0.7-pct
Oct 21, 2014 (LBO) – Sri Lanka’s stocks closed 0.72 percent lower with banking stocks losing ground despite net foreign buying, brokers said. Commercial Bank of Ceylon closed 2.30 rupees lower at 158.60 rupees and Commercial Leasing and Finance closed 20 cents lower at 4.60 rupees, contributing most to the index drop. Ceylinco Insurance closed […]
Sri Lanka to conduct a survey on loss properties and lands in Northern Province
Oct 21, 2014 (LBO) – Sri Lanka Ministry of Defence and Urban Development has taken steps to conduct a survey on people who have lost their properties and land in the Northern Province from 1980 due to terrorism, a media release said. The ministry says all Sri Lankan citizens who have lost their property and […]
’’s growth
Oct 21, 2014 (LBO) – Sri Lanka’s Government urged to create a friendly regulatory framework to drive the growth of the small and medium enterprises in the island, chamber chief said. Tilt the policy framework in favor of SME’s, Suresh Shah, Chairman of the Ceylon Chamber of Commerce said. This is only fair since many […]
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Oct 21,2014 (LBO) – Sri Lanka Ceylon Chamber of Commerce plans to hold a post budget seminar to discuss the ‘National Budget of 2015’, which will be presented in Parliament on the 24thof October, 2014, chamber said in a media release. Top government officials, senior tax consultants and corporate executives have been lined up to […]
‘s Jetwing Hotels to manage Bansei Royal Resorts
Oct 20, 2014 (LBO) – Sri Lanka’s Bansei Royal Resorts has entered into a new management agreement with Jetwing Hotels to manage the hotels operationally, the company said in a stock exchange filing. New agreement will come into force from December this year as the previous agreement with Amaya Leisure was terminated from 01st October […]
Sri Lanka shares close down 0.3-pct
Oct 20, 2014 (LBO) – Sri Lanka’s shares closed lower starting the week on a negative note with Commercial Bank and Nestle Lanka contributing most to the index drop, brokers said. The Colombo benchmark All Share Price Index closed 21.02 points lower at 7,213.45, down 0.29 percent. The S&P SL20 closed 21.39 points lower at […]
Sri Lanka to establish a regulatory council to monitor issues in finance sector
Oct 20, 2014 (LBO) Sri Lanka’s cabinet of ministers had given approval to establish an Inter Regulatory Institutions Council with a view of identifying issues that require collective action by financial sector regulators.Establishment of the council plans to promote financial system stability and the development of the financial sector. Financial institutions include licensed banks, licensed […]