Category: Industry
Sri Lanka to import 40,000MT of edible oil, Reduce levy on coconut oil
Feb 16, 2017 (LBO) – Sri Lanka’s Cabinet has approved to amend the special commodity levy on coconut oil and related products to allow importation of 40,000 metric tonnes edible oil required for 04 months. Coconut Research Institute has forecasted that the coconut harvest may decrease from 13.9 percent in January – August 2017 compared to […]
Sri Lanka senior citizens’ deposits up to Rs1.5Mn to get higher interest
Feb 15, 2017 (LBO) – Sri Lanka’s Finance Ministry said that it will increase the upper limit up to 1.5 million rupees for 15 percent special interest paid on fixed deposits maintained by senior citizens. Director General of Department of Development Finance said the treasury will pay 18,000 million rupees to cover the difference during the […]
‘s national insurance scheme
Feb 15, 2017 (LBO) – Sri Lanka has taken a step forward in its policy making by introducing a national insurance scheme, the World Food Program said. Executive Director of World Food Program Ertharin Cousin said that the WFP can provide technical assistance to deal with natural disasters such as floods, earth slips or drought. “Technical assistance […]
Sri Lanka’s Sampath Bank profits surge 67-pct in Dec quarter
Feb 14, 2017 (LBO) – Shareholder profits at Sri Lanka’s Sampath Bank group surged 67 percent to 2.56 billion rupees in the December quarter from a year earlier, interim accounts showed. The group reported earnings of 14. 44 rupees per share for the quarter against 8.91 rupees per share last year. For the year ended […]
DFCC launch ‘Vardhana Sahaya’ with govt initiated ‘Swashakthi’ for small enterprise sector
(PRESS RELEASE) – After six decades of nurturing small and medium businesses to become leading enterprises in their respective sectors, DFCC Bank is pleased to launch Vardhana Sahaya, effectively extending its expertise to the small enterprise category. Vardhana Sahaya is a new product for the small enterprise sector which offers a range of financial services including […]
Governments increasingly using emerging technologies: summit report
Feb 14, 2017 (LBO) – Governments are increasingly incorporating emerging technologies to improve public services, according to a report presented at the recent World Government Summit in Dubai. The Best Government Emerging Technologies report says several countries are now exploring “emerging technologies to provide government services more efficiently, effectively and have proven results.” Specifically, the […]
Japanese company plans to invest USD 1Mn in mini hydro
Feb 13, 2017 (LBO) – Japan’s Zero Plus Co. Ltd will invest one million dollars in a 700 kilowatt mini hydro project at Erathna in Ratnapura, TAD Lanka Investments (TAD), the local facilitator of this project said. The power plant is due to be commissioned in August 2017. “Despite its electricity generation being primarily run by […]
Case study of elephant attacks on foreign tourists in Sri Lanka
A Case Study of Wild Asian Elephant Attacks on Foreign Tourists in Sri Lanka. [pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2017/02/45-33-Prakash.pdf”]
Sri Lanka puts in place competitive pricing for medium scale solar
Feb 13, 2017 (LBO) – Sri Lanka’s Power Ministry has decided to put in place a competitive pricing mechanism for medium scale solar power generation companies commencing later this week, the minister said. “This is a turning point in the pricing system and the consumers will be the beneficiaries,” Ranjith Siyambalapitiya, minister of power and renewable energy said. […]
Sri Lanka calls tenders for petroleum development in Mannar Basin
Feb 12, 2017 (LBO) – The Sri Lankan government is inviting expressions of interest for partners to undertake the appraisal and development of gas discoveries and prospects in a 2,900-sq km offshore block in the Mannar Basin, a statement said. The block (M2) will be offered for licensing this year, including the Barracuda and Dorado […]
Mahindra expands business foot print with Ideal Motors Sri Lanka
Mahindra & Mahindra Ltd., a part of the USD 17.8 billion Mahindra Group based in India, today announced that it is set to expand its business footprint in Sri Lanka. The company will set up three new businesses in the country together with its proud partners for over 7 years Ideal Motors. Mahindra along with […]
Ravi upset over Central Bank leaks, media portrayal
Feb 09, 2017 (LBO) – Sri Lanka’s Finance Minister has expressed his concern about the leak of information with regard to closed door meetings at the island’s Central Bank, and media portrayal of it. News from some boards have been leaked and then represented by politicians who have a vested interest in it, his media […]