Category: Trade
Sri Lanka PM leaves to attend World Economic Forum of ASEAN in Hanoi
Sept 10, 2018 (LBO) – Prime Minister Ranil Wickremesinghe left for Hanoi, Vietnam on a three-day official to attend the World Economic Forum on the Association of Southeast Asian Nations (WEF ASEAN). The World Economic Forum on the Association of Southeast Asian Nations will be held from Sept.11-13 and 1,000 delegates from 43 countries and regions […]
STAX presents research on investment and FTA potential at SL-Singapore business council
Aug 27, 2018 (LBO) – Local research consultancy, STAX presented an overall view of key challenges in investment, potential opportunities for investment and growth, and the significance of the Sri Lanka Singapore free trade agreement, recently. Drawing on STAX’s extensive research capabilities and experience operating in the Singaporean market, Manager Firaz Markar presented an overall […]
New Executive Director at Lakshman Kadirgamar Institute (LKI)
August 22, 2018 (LBO) – Dr. Ganeshan Wignaraja has been appointed as the new Executive Director of the Lakshman Kadirgamar Institute of International Relations and Strategic Studies (LKI). The institute is Sri Lanka’s premier think tank, named after Sri Lanka’s long time Tamil Foreign Minister who was assassinated by the LTTE. Official statement follows: “LKI’s […]
Hemas Group net profit down 20-pct in 1Q amid high finance cost
Aug 15, 2018 (LBO) – Sri Lanka’s Hemas Holdings which has interests in FMCG, leisure, and healthcare has posted a shareholder profit of 554.3 million rupees in the June 2018 quarter, down 20.2 percent from a year earlier, interim accounts showed. The decrease in profit is due to reduced interest income post utilization of cash […]
Land area of Mirigama Export Processing Zone to be expanded by 108 acres
Aug 07, 2018 (LBO) – Sri Lanka’s Board of investment says the Mirigama Export Processing Zone is presently expanding its land area by another 108 Acres, adding 31 industrial lots to the zone with an objective of facilitating more FDI into the country. The Mirigama Export Processing Zone (MEPZ) has contributed 14 million US dollars […]
Sri Lanka vehicle population grew by 7-pct in 2017; import expenditure up 5-pct
July 31, 2018 (LBO) – Sri Lanka’s motor vehicle population grew by 7 percent to 7.2 million in last year with import expenditure on motor vehicles also showing 5 percent growth, the annual report on the country’s motor vehicle market published by the Ceylon Chamber showed. According to the report, the year 2017 saw a […]
Mastercard launches Simplify Commerce to accept e-payments regardless of payment brand
Mastercard announced the launch of Simplify Commerce, a simple and secure platform that makes it easier for businesses to accept electronic payments, regardless of a payment brand, in Sri Lanka.This feature rich element of Mastercard Payment Gateway Services is now available to acquiring banks and non-banking financial institutions as well as their small-to-midsize merchant customers […]
Opinion: Understanding the Sri Lanka-Singapore FTA
By: Ganeshan Wignaraja and Amitendu Palit July 28, 2018 (LBO) – While the global trade war threatens to disrupt the momentum of global trade and the prospects of global economic growth, encouraging signs of commitment to trade are visible elsewhere. Countries across the world continue to remain committed to free trade notwithstanding anxieties over the […]
Colombo Port transshipments up by 19.8-pct in 1H; targets 7mn TEUs for 2018
July 22, 2018 (LBO) – Establishing a record in transshipment operations, the Colombo Port has witnessed the highest growth of 19.8 percent in transshipment container throughput for the first half of 2018 as against the corresponding period in 2017.During the first half of 2018, the Port of Colombo handled 2,733,906 TEUs of transshipment containers as […]
Sri Lanka launches online platform to provide all import, export information
July 20, 2018 (LBO) – Sri Lanka’s Department of Commerce with the help of other government agencies launched a trilingual online platform to facilitate importers and exporters in the country. Sri Lanka Trade information portal (SLTIP) which is the single stop point for all information relating to import and export in Sri Lanka can be […]
National Export Strategy: Sri Lanka targets USD28Bn in exports by 2022
Jul 20, 2018 (LBO) – Sri Lanka’s government unveiling the ‘National Export Strategy (2018-2022)’ in Colombo yesterday said it plans to increase the capacity of the local export sector while also improving trade performance and competitiveness. The five-year plan will help to make Sri Lanka a major regional export hub with the launch of this […]
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 […]