Category: General Services
Sri Lanka Trade Information Portal to be unveiled tomorrow
July 19, 2018 (LBO) – Sri Lanka will unveil one of the biggest initiatives in its international trade history when the Department of Commerce launches the World Bank supported Sri Lanka Trade Information Portal (SLTIP) on Friday in Colombo. World Bank supported Trade Information Portals (TIP) across the world provide information that traders need to […]
US Trade Court nullifies tax on Sri Lanka rubber tyre imports in historic judgement
July 17, 2018 (LBO) – Sri Lanka has won the first ever revocation of countervailing duty imposed in US for a Lankan export with the removal of duties on the import of off-the-road (OTR) rubber tyres from Sri Lanka to the United States, Ministry of Industry & Commerce said in a statement. The statement is […]
CSE to host briefing event for potential Empower Board sponsors
Colombo Stock Exchange (CSE) and the Securities and Exchange Commission (SEC) recently launched “Empower”, a listing platform fostering capital raising and growth opportunities for Sri Lankan Small and Medium Enterprises (SMEs). SMEs around the country now have at their disposal a range of new capital raising methods and entities listing on this platform will be […]
Sri Lanka seeks investments from France for Megapolis project
July 13, 2018 (LBO) – Sri Lanka recently concluded an investment forum in France aimed at attracting foreign investments for the Megapolis project that is being carried out in the Western Province. The forum was held in Paris, France from 01 July to 06 July 2018 with the participation of well-known French companies. Speaking at […]
Fitch removes Rating Watch Negative on Distilleries; affirms at AAA(lka)
July 13, 2018 (LBO) – Fitch Ratings has removed the Rating Watch Negative on Distilleries Company’s National Long-Term Rating, and has affirmed the rating at ‘AAA(lka)’. Full text of the statement is reproduced below. Fitch Ratings-Colombo-13 July 2018: Fitch Ratings has removed the Rating Watch Negative (RWN) on Distilleries Company of Sri Lanka PLC’s (DIST) National Long-Term […]
Arpico Finance, Associated Motor Finance merger to be completed by Nov 2019
July 12, 2018 (LBO) – Process of amalgamating Associated Motor Finance (AMF) with Arpico Finance Company (AFC) which commenced in August 2017 is expected to be completed with their legal merger by November 2019. Associated Motor Finance said in a stock exchange filing that they are not able to inform the shareholders as to the […]
Transparency in tender procedures vital for attracting FDI inflows to Sri Lanka :EU
Jul 11, 2018 (LBO) – The 6th EU- Sri Lanka investor dialogue was held at the Ministry of Development Strategies and International Trade recently. Many of the earlier outstanding matters had been resolved through dialogue and the joint efforts of the Sri Lanka and EU authorities. “We have managed to resolve many of the issues that […]
‘s govt gets USD 50Mn loan from OPEC fund for international development
Jul 09, 2018 (LBO) – Sri Lanka’s government signed a loan agreement for obtaining financial assistance of US 50 million dollars from OPEC fund for International Development (OFID) for implementation of technological education development programme Under current portfolio, OFID provides financing for road and irrigation sectors. The lines and working pattern of our workforce is bound […]
Sri Lanka’s expenditure on tobacco use surpasses GSP+ export income
July 05, 2018 (LBO) – Sri Lankan consumers’ annual expenditure on cigarettes and tobacco is so high it surpasses the annual export revenue from EU GSP Plus, Industry and Commerce Minister Rishad Bathiudeen said. “Reports say that Sri Lankan consumers spend more than Rs 200 million per day for cigarettes,” Minister Bathiudeen said. “According to the World […]
Sri Lanka to obtain 100bn yen from MUFG Bank for Central Expressway phase 3
July 04, 2018 (LBO) – Cabinet has approved a proposal presented by Prime Minister to enter into an agreement with MUFG Bank in Japan to obtain 100 billion Japanese Yen for the Central Expressway Phase 3. The Government has planned to construct 32.5 km distance of the Central Expressway (Phase 3) from Potuhera to Galagedara […]
Cabinet awards Rs1.5bn contract to ACL Cables for supplying aerial conductors
July 04, 2018 (LBO) – Sri Lanka’s cabinet of ministers has approved a proposal to award a contract of supplying 2,500 km of aerial bundle conductors to ACL Cables.The proposal presented by Power Minister Ranjith Siyambalapitiya shows that the value of the contract is 1,456 million rupees.Meanwhile, the government has also decided to establish a […]
Korean concessional loan of USD 14Mn to support garbage collecting in local authorities
Jul 02, 2018 (LBO) – The Government of Republic of Korea has agreed to provide two concessional loans for US 14 million dollars (Approximately Rs.2,240 million) to supply of 190 nos. of garbage collecting compactors to Local Authorities of Sri Lanka. This initiative is in line with the Government’s target of strengthening local authorities with […]