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‘s Finance Minister introduces relief package
Finance Minister Basil Rajapaksa on Monday announced a relief package for different sectors in Sri Lanka. Complete Cabinet Decision: 2022 Economy and Outlook The budget for the year 2022 has been approved by the parliament and commenced to effect from 01 of January 2022 and the Minister of Finance submitted the following information on the […]
Prime Minister Mahinda Rajapaksa is not stepping down: PM Media Division
Prime Minister’s Media Division says that there is no truth in the rumors circulating in the mainstream media and social media for several days and today that Prime Minister Mahinda Rajapaksa is stepping down. The Media Secretary to the Prime Minister, Rohan Weliwita further said that he strongly rejects such false propaganda which is misleading […]
Eco Spindles aims to increase plastic recycling by 10-pct
Eco Spindles, Sri Lanka’s largest plastics recycler equipped with one of only two plants in the world capable of creating polyester yarn directly from recycled PET plastic flakes, has significantly bolstered Sri Lanka’s recycling capabilities by creating an ecosystem for recycling within the country. This year, the company has seen the culmination of its significant […]
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written by Migara Rodrigo Sri Lanka has a whopping 527 state-owned enterprises[1] (SOEs). The 55 SOEs classified as “strategically important” alone employ 10% of the public sector workforce[2], or about 1.9% of all workers. Such a large number of SOEs are not the norm globally[3]; many other countries (such as India) have been reducing their […]
Double digit growth in taxi hailing industry but single digit increase in new driver partners joining
With fuel prices at the pump increasing and commodities set to take another bump, PickMe says it is vital not to take our eyes off the ball. “Despite all shortcomings, the wheels of the economy must not stop turning,” says Zulfer Jiffry, CEO of PickMe. The company has increased incentives to their driver partners in […]
VIDEO: Cartels and Price Fixing – Analysis Diagram Explaining Price Collusion
This is a short revision video looking at how a cartel price and output might help to maximise joint profits and reduce uncertainty in the market but still leaves open the incentive for individual cartel members to break the agreement by secretly over-producing and under-cutting the cartel price.
VIDEO INTERVIEW: Decision Makers in Sri Lanka – Dr. Sanjiva Weerawarana, Founder & CEO, WSO2
“The real value in the IT industry is not providing services to other countries but creating products that other countries buy and there are many barriers as to why we are not doing enough of that,” says Dr. Sanjiva Weerawarana, Founder & CEO of WSO2. This video interview series will feature leaders who share their […]
2022 New Year celebrations around the world
Major cities around the world kick-started the New Year with firework displays, dazzling performances, and shows. As the last revellers from around the world ring in, we looked at celebrations in some of the globe’s biggest cities and their glitziest displays. Sri Lanka’s premier digital business news provider, LankaBusinessOnline would like to wish all our […]
ComBank remittance promo to make 4 millionaires in first 4 months of 2022
The Commercial Bank of Ceylon has announced that it is starting 2022 on a rewarding note with the launch of ‘Win a Million’ – a remittance promotion that will make four instant millionaires in four months and reward another 40 recipients of remittances with a total of Rs 1 million in cash. The prize purse […]
Central Bank revises maximum interest rates on foreign currency deposits
The Monetary Board has issued an order on maximum interest rates to be paid in respect of foreign currency deposit products of licensed commercial banks and the National Savings Bank. Maximum interest rates on FCY deposits The maximum interest rates that shall be offered or paid by a licensed commercial bank and the National Savings […]