Category: General Services
Sri Lanka BoI ink four investment deals
Nov 23, 2018 (LBO) – The Board of Investment of Sri Lanka recently signed four agreements for projects in apparel, logistics, plant tissue and packaging, a statement from the investment promotion agency said. The first agreement was with First Steps Babywear Lanka (Private) Ltd which will be setting up a manufacturing plant with to produce garments […]
Sri Lanka business chambers call for urgent action to resolve political situation
Nov 15, 2018 (LBO) – Sri Lanka business chambers have called upon all those responsible to accord the highest priority to national interest and refrain from pursuing any path that will result in an economic downfall which will have an adverse impact on the country and the people. The statement released by Ceylon Chamber of Commerce, International […]
Pathway to membership of CA ANZ available for members of CA Sri Lanka
The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and the Chartered Accountants Australia & New Zealand (CA ANZ) signed a landmark agreement on Thursday, 08th November 2018 to strengthen the scope of CA Sri Lanka members. The agreement was signed by CA Sri Lanka President Mr. Jagath Perera and CA ANZ Chief […]
Asiri buys Hemas Southern Hospital for Rs.450Mn
Nov 06, 2018 (LBO) – Asiri Hospital Holdings Plc, a subsidiary of Softlogic Group acquired Hemas Southern Hospitals for 450 million rupees, a statement said. In a Stock Exchange filling the company said that the decision to enter into this transaction brings tremendous synergy to the Asiri group with the existing hospitals and laboratories of Asiri in […]
Colombo Stock Exchange withdraws trading suspension on Adam Investments
Oct 25, 2018 (LBO) – Colombo Stock Exchange says the proposed trading suspension of the securities of Adam Investments will not be effective from 29 October 2018.The exchange further said the company has resolved the matters giving rise to the qualified opinion in the independent auditors report on the financial statements for the year ended […]
Govt. will support retail sector to make Sri Lanka a regional shopping destination: Fin Min
Oct 19, 2018 (LBO) – Opportunities for the retail sector will continue to expand with Sri Lanka recently crossing the US 4,000 dollar GDP per capita threshold, the Minister of Finance said. Mangala Samaraweera told a retail forum in Colombo, Thursday. “Tourist arrivals this year have crossed the 2 million mark with growth of 11.6 percent, creating […]
Pharma industry withdraws 11 drugs from market: Importing not commercially viable
Oct 17, 2018 (LBO) – The Sri Lanka Chamber of Pharmaceutical Industry (SLCPI) in a statement to media said that despite persistent appeals, the Government has failed to address the issue of a fair and proper pricing mechanism for pharmaceutical products in light of the sharply depreciating Sri Lankan Rupee against the US Dollar. “With over […]
SAARC looks to go high tech to boost regional trade : Minister
Oct 15, 2018 (LBO) – Despite low trade within the region, there is potential for using information and communication technologies to contribute to social and economic progress across South Asian countries, Minister of Industry and Commerce said. “Despite the challenges, the e-commerce and related sectors in the South Asian countries offer huge business and investment […]
Price controls dominate political debate but may not help consumers: Report
Oct 10, 2018 (LBO) – A new report by The Advocata Institute, titled “Price Controls in Sri Lanka: Political Theatre” finds that consumer price controls lead to unintended outcomes including lower quality.Politicians have imposed price controls on a variety of items in the belief that capping prices will lower costs but our survey shows that […]
CMC pays up in order for SLLRDC to resume garbage collection
Oct 10, 2018 (LBO) – The Megapolis and Western Development Ministry yesterday said Colombo Municipal Council (CMC) made an advance payment of 100 million rupees to the Sri Lanka Land Reclamation and Development Corporation (SLLRDC) in order for the latter to resume garbage collection in the CMC area.Megapolis and Western Development Minister Patali Champika Ranawaka further […]
Sri Lanka to integrate SMEs into formal sector to facilitate their growth : Fin Min
Oct 09, 2018 (LBO) – Sri Lanka’s Minister of Finance said the government aims to integrate small and medium scale enterprises into an official sector and establish hard and soft infrastructure frameworks to facilitate their growth. “Every country in the world has identified the importance of SMEs in their economies as a practical instrument in achieving […]
Sri Lanka targets USD2.5Bn FDI in 2018
Oct 05, 2018 (LBO) – Sri Lanka is targeting 2.5 billion US dollars worth of foreign direct investments (FDI) for 2018 from 1.63 billion US dollars in 2017, a senior official said. “Our target is 2.1 billion US dollars and we are trying to stretch it to 2.5 billion US dollars,” Mangala Yapa, member, Board of Directors, Board […]