Category: Other
‘s NITF gets reinsurance cover for agriculture
Feb 17, 2017 (LBO) – Sri Lanka’s National Insurance Trust Fund says they have procured a reinsurance program for its agriculture insurance schemes. “This reinsurance programme will provide support to agricultural insurance schemes funded by NITF including the recently launched National Agricultural Loan Protection Scheme,” NITF said in a statement. “The cover has been arranged […]
Softlogic Holdings turnover crosses Rs. 45 Bn, up 9.9-pct
Earnings Review – Group’s cumulative turnover crossed Rs. 45 Bn (up 9.9%) for period ending 31 December 2016 while the quarterly revenue improved marginally to Rs. 15.7 Bn. This slow growth was primarily due to the Group’s substantial downsizing of ‘Nokia’ operations. – Consolidated Gross Profit increased to Rs. 4.7 Bn during the second quarter […]
Piramal Glass Ceylon turnover crosses Rs5bn in 9 months to Dec
For the nine months ended 31st Dec,2016 the overall turnover crossed Rs.5 Bn mark. The total Turnover showed a growth of 6% from Rs 4,817 Mn to Rs 5,108 Mn. This was contributed by 7% growth in domestic sales from Rs 3,888 Mn to Rs 4,149 Mn & 3% increase in export sales of Rs […]
How new visa changes can influence Sri Lanka’s real estate market
Five years ago, Sri Lanka’s government imposed stricter rules on visa requirements. This happened as part of an on-going process to improve administrative procedures following the end of the war in 2009. Since the new visa laws were proposed, a new government has come into power. What impact do the new visa requirements and this […]
Australia and Sri Lanka joint statement on bilateral cooperation
JOINT STATEMENT BY THE PRIME MINISTERS OF AUSTRALIA AND SRI LANKA 1. Hon. Ranil Wickremesinghe, Prime Minister of the Democratic Socialist Republic of Sri Lanka paid an official visit to Australia from 13 -17 February 2017 at the invitation of Hon. Malcolm Turnbull, Prime Minister of Australia, accompanied by Hon. Wijith Wijayamuni Zoysa, Minister of […]
Indonesia donates 5,000MT of rice to Sri Lanka
Feb 15, 2017 (LBO) The Indonesian government will donate 5,000 metric tonnes of rice to Sri Lanka following a request of President Maithripala Sirisena through the local ambassador in Jakarta. The consignments to be shipped in a few days are expected to arrive in Colombo in March, the Sri Lankan Foreign Ministry said in a statement. […]
New Zealand Aid Programme announces Commonwealth Scholarships for Sri Lanka
(PRESS RELEASE) – The New Zealand Government has announced its fresh round of Commonwealth Scholarships for Sri Lankan students who wish to commence programmes of study at New Zealand academic institutions in 2018. The application process opens on February 15 and closes on March 30. “New Zealand and Sri Lanka share an important and growing relationship, which is built […]
Sri Lanka assumes Chair of Asia-Pacific Group at United Nations in Vienna
(PRESS RELEASE) – H. E. Ambassador Priyanee Wijesekera assumed the Chairmanship of the Asia-Pacific Group at United Nations in Vienna from Philippine. In this honourable role, Sri Lanka is coordinating communication and organization of meetings between the 54 members of Asia-Pacific Group and the United Nations Organizations in Vienna. Furthermore, H. E. Ambassador Priyanee Wijesekera […]
Hayleys 3Q16 profits grow by 8-pct to Rs.1.1Bn
(PRESS RELEASE) – Sri Lankan conglomerate Hayleys PLC’s profits after tax rose by 8% Year-on-Year (YoY) to reach Rs. 1.1 billion during the quarter ended 31st December 2016 (3Q16). Revenue during the quarter increased by a sharp 27% YoY up to Rs. 30 billion buoyed by strong performances across in the Group’s Agriculture, Construction Materials […]
Prime Minister receives honorary doctorate from Deakin University Australia
Prime Minister Ranil Wickremesinghe was awarded an honorary doctorate in law at the graduation ceremony of Deakin University in Australia for significant contributions in reforms in economy, education and human rights in Sri Lanka, PM’s office said. The award recognises his efforts to help Sri Lanka transition from a country traumatised by protracted, violent conflict toward […]
BOC, Mastercard team up to enable faster payment innovation
Bank of Ceylon (BoC) announced that it will be strengthening its longstanding partnership with Mastercard, enabling it to tap into Mastercard’s global technology and expertise to bring payment innovation to Sri Lanka faster. The Bank aims to roll out safer, smarter, and more innovative payment options by connecting to Mastercard Integrated – a back-end technology […]
Rice millers call for release of govt stock to maintain price control
Feb 14, 2017 (LBO) – Sri Lanka’s Small and Medium Scale Rice Mill Owners’ Association says if they are to sell rice to consumers at a controlled price the government needs to release 67,000 metric tons of paddy in store at the Paddy Marketing board. This request was made at a meeting held with Finance Minister Ravi […]