Category: Trade
LSE business division to open HQ in Sri Lanka soon
Aug 15, 2016 (LBO) – London Stock Exchange Group’s Business Services division (LSEG BSL) will soon open its new headquarters in the historic Expert City precinct, formerly known as Tripoli Market, in Colombo. The new Business Services division in Sri Lanka will provide support to the group’s operating entities across the globe, the group said in […]
Norwegian research vessel to assess Sri Lankan marine stocks in 2017
Aug 15, 2016 (LBO) – Norwegian funded research vessel is to visit Sri Lankan waters next year to carry out a marine stock assessment, Norwegian Prime Minister Erna Solberg said. This would be the first time an in-depth research on fish stocks and a marine survey covering the entire sea of the country conducted in […]
Sri Lanka Tanzania Investment Chamber launched in Dar es Salaam
Aug 11, 2016 (LBO) – Sri Lanka and Tanzania look set to expand business and investment promotion between the two countries with the launch of the Sri Lanka Tanzania Investment Chamber in Dar es Salaam, Tanzania last week. The chamber was inaugurated by Minister of Tourism Development, Christian Religious Affairs and Lands, John Amaratunga. “With […]
Sri Lanka’s Financial City to build client deposit base 10-pct of GDP
Aug 10, 2016 (LBO) – Sri Lanka’s proposed Financial City aims to attract a client deposit base worth 10 percent of the island’s GDP within a period of 5 years, a cabinet approved proposal said. Cabinet Spokesman Rajitha Senaratne said it has also been decided to commence the initial operations of the Financial City after […]
Mackwoods says Agalawatte share sale had shareholder approval
Aug 09, 2016 (LBO) – Sri Lanka’s Mackwoods Plantations (Private) Limited says the recent share sale of Agalawatte Plantations had been unanimously approved by the shareholders of the company. In a stock exchange filing, Agalawatte Plantations said they have been notified that all the shareholders of Mackwoods Plantations (Private) Limited unanimously approved and executed an […]
Sri Lanka to look at new exports in boat building, pharmaceuticals, IT/BPO: EDB
Aug 04, 2016 (LBO) – Sri Lanka is seeking to expand its export basket as it is essential that the island looks at export diversification and finds new markets, head of the state export promotion office said. Indira Malwatte, head of Sri Lanka’s Export Development Board, said boat building is one such avenue that is […]
Sri Lanka’s Port City developer withdraws compensation claims
Aug 02, 2016 (LBO) – Sri Lanka’s port city developer CHEC Port City Colombo, who is handling the project for the Chinese investor, China Communications Construction, has agreed to withdraw all compensation claims for losses incurred due to the suspension of the project. However, the cabinet has approved allocation of 2 hectares to them, without […]
We need to position our country: Harsha de Silva
Aug 02, 2016 (LBO) – Sri Lanka’s deputy minister of foreign affairs says that as a nation we need to ease rules and attract investment and build confidence on the global platform. “The wide global audience has not received the Sri Lankan message that we are ready for investment,” Harsha de Silva, deputy foreign affairs minister […]
China special investment zone to create 1mn jobs in Hambantota
Jul 26, 2016 (LBO) – The Chinese government has requested for 15,000 acres of land in Hambantota for a special economic zone that will create around one million job in this area, the Minister of Development Strategies and International Trade said Tuesday. “Apart from the Chinese Free Trade Agreement, Chinese officials are also in discussions […]
Malik assures ETCA and other FTAs won’t impact local jobs
Jul 26, 2016 (LBO) – Sri Lanka is currently at the formulating stage of Free Trade Agreements with China and Singapore and an “Economic Technology Cooperation Agreement” with India but these agreements will not lead to locals losing jobs, a minister said. “The government will not consider Mode 4 of the general trade agreement on […]
Sri Lanka’s Ceylon Cold Stores net up 56-pct in June quarter
July 22, 2016 (LBO) – Profits at Sri Lanka’s Ceylon Cold Stores, which has interests in consumer goods and retailing, surged 56 percent to 855 million rupees in the June 2016 quarter from a year earlier as revenues rose 30 percent. Ceylon Cold Stores is a top producer of carbonated drinks, ice cream and has […]
Sri Lanka imposes maximum price for 16 essential items
July 14, 2016 (LBO) – The controlled prices of 16 essential items were announced by the Minister of Industry and Commerce Rishad Bathiudeen today morning. The Gazette is expected tomorrow and the maximum retail prices will be effective immediately. The Items are: 1. Chicken Rs 410 per Kilo, Rs 495 per Kilo (skinless) 2. Red […]