Category: General Services

A new law to label food items gets activated from April 1, giving traders barely a month to redesign their packaging materials.April is certainly looking to be an eventful month for the local business sector.rn rnOn top of general election mayhem and disruptive New Year work breaks, everyone in the business of putting food on […]

The government will amend its newly minted labour retrenchment formula to raise the maximum compensation ceiling from 30 to 50 months of salary.rnrn The new ceiling will apply to all firms with a net profit of more than Rs. 100 mn and governed by a collective agreement, Labour Minister Mahinda Samarasinghe said Thursday.rn rnThe changes […]

Koreas Myunghim Lanka (Pvt) Ltd has signed up to build a US$ 18 mn township development project in Kalutara.The Board of Investment says the 100 percent South Korean investment will be spread over three-years, to give the Kalutara town a face lift.rn rnThe project would evolve in eight phases. rn rnFirst a Public Market with […]

Nawaloka Hospitals says it is forced to nurse a Rs. 85 mn in debt and interest payments as its initial share issue gets delayed due to political theatrics.The hospital, which enjoys a healthy Rs. 125 mn in revenues per month, was hoping to raise Rs.300 mn through an initial public offering.rn rnNawaloka Hospitals (Pvt) Ltd, […]

The newly minted labour compensation formula is likely to be amended, after union agitation to leave it flexible for negotiation.Under proposed changes, all firms governed by a collective agreement, with a profit in excess of Rs.100 mn, will not be subject to the 30 month compensation ceiling.rn rnIt will be left to the Labour Commissioners […]

Police inspectors and sub-inspectors are tipped to take home an additional Rs. 900 every month above their salaries, calculated as set out in the 2004 budget.rnrnA committee appointed by Finance Minister K. N. Choksy to look into raising salaries of the Police force came back with the decision on Tuesday.rn rnHowever, the recommended increment is […]

Finance Minister K N Choksy has appointed a committee to look into raising salaries of the Police force.Salaries of the armed forces and the police, were revised upwards from January, as part of an overall increment for government employees.rn rnBut the police force is not too happy with the 10 percent or Rs. 1,250 increment. […]

Sri Lanka and Bangladesh will dismantle all non-tariff barriers blocking trade between the countries, as a first step to a Preferential Trade Agreement (PTA). ldblquote The two countries decided last week in Dhaka, to dismantle all non tariff barriers with immediate effect, dblquote said Secretary, Ministry of Commerce, Harsha Wickramasinghe.rn rnThe identification and removal of […]

Independent research, the leading financial research and investment service provider to global investment banks and fund managers has recruited Ravi Abeysuriya, Managing Director of Fitch Ratings Lanka Ltd. to head its operations in Sri Lanka. Independent Research (Private) Ltd, branded internationally as lquote Amba which started operations in Colombo last year, currently is in an […]

The Development Lotteries Board (DLB) is playing a new lottery ticket to reach a Rs. 1 billion bottom line target by end 2004, after posting a profit of about Rs 750 mn for 2003.The new lottery ticket, Jayoda, will also push up 2004 revenue estimates to Rs.5.2 billion up from Rs 3.7 billion last year. […]

The Development Lotteries (DBL) Board is studying alternate methods to retail lottery tickets online before diving into the computer driven jackpot business. DBL Chairman, J K Fernando told Lanka Business Online on Wednesday that the Board would launch an online lottery with foreign collaboration when the they have identified ways of using its current sales […]

The Joint Business Forum(JBiz) sat on a second round of pow-wows , this time attended by religious and NGO groups, on a course of action to end the prevailing political sulks endash and decided to slap the countrys leadership with an ultimatum.After over two hour of discussion with religious and civil society representatives, JBiz decided […]