Category: Featured
Gemfields PLC announces preferred suppliers for supply chain
Nov 07, 2016 (LBO) – Ratnapura Lanka Gemstones, a subsidiary of Gemfields plc, has announced the shortlisting of preferred suppliers following the call for expressions of interest from licensed mining companies and registered gem dealers in Sri Lanka. “Through working with these preferred partners, Gemfields intends to establish a supply chain which would help grow […]
Ceylon Chamber concerned over pharma product pricing
Nov 07, 2016 (LBO) – The Ceylon Chamber of Commerce has expressed concerns about fixed prices on medicinal drugs announced by Government Gazette. “Sri Lanka has a strong and accessible public healthcare system, complemented by a quality private healthcare system that is catering to evolving needs of the Sri Lankan people,” the business chamber said […]
India, Sri Lanka hold ministerial talks on fishermen
Nov 07, 2016 (LBO) – India and Sri Lanka have held ministerial level talks to find solutions to fishermen’s issues. External Affairs Minister Sushma Swaraj and Minister of Agriculture & Farmers Welfare Radha Mohan Singh met with the Sri Lankan Minister for Foreign Affairs Mangala Samaraweera and Minister for Fisheries and Aquatic Resources Development Mahinda […]
‘s exports: World Bank
Nov 07, 2016 (LBO) – Sri Lanka could grow it exports by encouraging resources to more productive firms through managing urbanization and fostering agglomeration of firms, a World Bank report states. Firms could also invest more in training their workers and managers, with active measures from the government, the report states. “Sri Lanka’s leading firms […]
Sri Lanka’s JKH net up 8-pct in September 2016 quarter
Nov 04, 2016 (LBO) – Sri Lanka’s diversified conglomerate John Keells Holdings group net profits rose 8 percent to 3.8 billion rupees in the September quarter from a year earlier, the interim accounts showed. The firm reported basic earnings of 2.77 rupees per share for the quarter against 2.65 rupees reported a year earlier. Group […]
‘s Aitken Spence second quarter profits up 50-pct
Nov 07, 2016 (LBO) – Aitken Spence PLC posted 540 million rupees as profits attributable to equity holders of the company in the second quarter, an increase of 50 percent year-on-year. Pre-tax profits rose by 26 percent to 973 million rupees while revenue rose by 70 percent to 9.8 billion rupees, in the second quarter […]
Sri Lanka October tea prices reach record levels
Nov 04, 2016 (LBO) – Sri Lankan tea prices at the Colombo auctions were at an new monthly high in October 2016 as volumes fell but demand picked up. “Auction averages reached record levels in the backdrop of a sharp decline in availability,” Forbes & Walker Tea brokers said in their October report. “Auction average […]
President assures CB bond issue investigation free from political interference
Nov 04, 2016 (LBO) – Sri Lanka’s president assured that the investigation into Central Bank bond issue will be free from political interference and that there will an independent, impartial judicial process. The investigation into the Central Bank bond issue should be free from political interference, President Maithripala Sirisena said, adding that the investigation regarding […]
Sri Lanka awards USD58mn railway tender to only bidder
Nov 03, 2016 (LBO) – Sri Lanka’s cabinet nod has been given to award a tender to the only bidder who submitted a bid to supply six Diesel Multiple Units for the island’s railway system under an Indian credit line. A diesel multiple unit is a multiple-unit train powered by on-board diesel engines and it […]
‘s for multi-modal transport hub
Nov 03, 2016 (LBO) – Sri Lanka’s cabinet of ministers has approved for the Megapolis and Western Development Ministry to call for expressions of interest to build a multi-modal transport hub starting from Fort, a statement said. “Urban Development Authority would be authorised to acquire lands in phases for a multi modal transport hub from […]
Sri Lanka to establish independent agency for tenders
Nov 03, 2016 (LBO) – Sri Lanka’s cabinet has given the nod to streamline the process and transparency on all state tenders by establishing an independent centralised procurement institution, a statement said. “The new Independent Centralized Procurement Agency is to comprise five members including the following holders of office, representing women and major ethnic groups […]
Sri Lanka grants 25 year income tax waiver for Port City developer
Nov 02, 2016 (LBO) – Sri Lanka’s cabinet has approved granting of exemptions for the project company of the Colombo Port City in terms of the Strategic Development Project Act 2008. The CHEC Port City Colombo manages the project for the Chinese investor, China Communications Construction Company. The cabinet recognized the development of Port City […]