Category: Trade
Sri Lanka Customs expedites cargo clearing process
Mar 01, 2016 (LBO) – Sri Lanka Customs has accelerated its cargo clearing service to minimize delays for importers and exporters. As per the new directions, every piece of cargo will be cleared within 3 days unless it has a legal issue or pending investigation. Customs Director General Chulananda Perera told reporters Monday that the […]
Sri Lanka explores possibility to join TPP: Foreign Minister
Feb 26, 2016 (LBO) – Sri Lanka’s government is currently exploring the possibility of applying to join the Trans-Pacific Partnership very seriously, Foreign Minister Mangala Samaraweera said. “A leading government think tank is preparing a feasibility study and we will be continuously evaluating developments on this front,” Samaraweera said. He was addressing a gathering at […]
Sri Lanka’s Carsons Cumberbatch December net up 66-pct
Feb 12, 2016 (LBO) – Sri Lanka’s Carsons Cumberbatch group profits rose 66 percent to 1.2 billion rupees in the December 2015 quarter from a year earlier, interim accounts showed. Carsons revenues were fell 9 percent to 20.6 billion rupees, while sales costs also fell 3 percent to 15.3 billion rupees, resulting in a gross […]
Customs duty increase on imported rice approved by cabinet
Feb 11, 2016 (LBO) – The government recently decided to increase the import duty on rice from 35 rupees to 50 rupees per kilogram effective from February 01, 2016. Finance Minister Ravi Karunanayake’s proposal to submit the relevant Gazette Notification under the “Revenue Protection Act” to the parliament for approval, has been approved by the cabinet […]
Sri Lanka IT professionals insist on greater transparency in ETCA
Feb 11, 2016 (LBO) – Sri Lanka’s IT professionals have raised concerns over the lack of transparency and industry involvement in formulating the proposed Indo-Lanka Economic and Technology Cooperation Agreement. President of Sri Lanka Information Technology Professionals Association Indika Gamage told reporters that the government has placed a huge commitment without reputed statistical or contextual […]
Sri Lanka’s Cargills (Ceylon) December net down 3 pct
Feb 10, 2016 (LBO) – Profits of Sri Lanka’s Cargills (Ceylon) group, which has interests in retailing and fast moving consumer goods, fell 3 percent to 463 million rupees, interim accounts showed. The group reported earnings of 2.07 rupees per share for the quarter. Revenues rose 19 percent to 18.1 billion rupees and cost of […]
“Doing our best to live up to expectations of PM”: Harsha
Feb 10, 2016 (LBO) – Sri Lanka’s Deputy Minister of Foreign Affairs assures that although there is some frustration at the Prime Ministers level with regards to Foreign Ministry performance, they are doing their utmost to prove themselves. “We are a new and liberal government and we need to get on with it. Most importantly […]
Sri Lanka’s Distilleries December net up 10.7 pct
Feb 08, 2016 (LBO) – Net profits at Sri Lanka’s Distilleries Group, the island’s largest alcohol maker, rose 10.7 percent to 1.78 billion rupees in the December 2015 quarter form a year earlier, interim accounts showed. In the December quarter, total revenues rose 36 percent to 23.58 billion rupees and cost of sales rose at […]
Interview: Sri Lanka centrally placed, ETCA will open more doors, says Harsha
Feb 08, 2016 (LBO) – The stage is now set for Sri Lanka to be the driving force in the South Asian region, Deputy Minister of Foreign Affairs said. “We have the god given advantage of being in the middle of this (the region) and we need to utilize this,” Harsha de Silva, Deputy Minister […]
Interview: Sri Lanka needs to be brave and open up, says Harsha
Feb 03, 2016 (LBO) – Sri Lanka’s Deputy Minister of Foreign Affairs said that closing boarders in fear will not help small countries like Sri Lanka to move forward. “Look at Vietnam they are opening up and signing the Trans Pacific Partnership – they brought in close to 15 billion dollars in foreign direct investments […]
U.S. Trade Representative Delaney meets Sri Lanka govt officials
Feb 03, 2016 (LBO) – Assistant U.S. Trade Representative for South Asia Michael J. Delaney met with Sri Lanka government, trade, and business officials this week ahead of the upcoming Trade and Investment Framework Agreement (TIFA) talks in Washington. Delaney met with Minister of Development Strategy & International Trade Malik Samarawickrema and representatives from the […]
Minister Hakeem to visit Turkey seeking Sri Lanka tea expansion
Feb 03, 2016 (LBO) – Sri Lanka Muslim Congress Leader and City Planning Minister Rauff Hakeem will undertake a week-long official visit to Turkey as part of the Prime Minister’s initiative to expand the market for Sri Lankan tea. Minister Hakeem is on a mission to explore the possibility of increasing the volume of tea […]