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Sri Lanka to build economic development zones to encourage investments
Aug 04, 2015 (LBO) – Sri Lanka is planning to build economic development zones grouping about four investment zones to encourage investment and support 50 billion US dollars export target, Prime Minister Ranil Wickramasinghe said. “In order to ensure that there are large investors coming in to the country, we are having economic development areas,” […]
Illegal immigrants to UK face eviction without court order with new law
Aug 04, 2015 (LBO) – Britain’s government is to introduce new measures to crackdown illegal immigrants renting properties in the country. “It will ensure anyone without the right to live in this country will find it more difficult to rent a home,” a statement issued by the department for communities and local government said. “Measures […]
DSI ups the ‘Beat’ with Bhathiya and Santhush
Iconic duo appointed Brand Ambassadors for DSI ‘Beat’ Rubber Slippers (DSI News Release) – The place of the colourful and ubiquitous flip-flop in local fashion has been reaffirmed, with one of Sri Lanka’s most popular singing duos Bhathiya and Santhush endorsing ‘Beat’ the popular flip flop collection of the country’s heritage footwear brand DSI. D. […]
Sri Lanka’s Haycarb profit margins pressed by downturn in gold mining industry
Aug 04, 2015 (LBO) – Sri Lankan coconut shell-based activated carbon manufacture Haycarb’s June 2015 quarter profits rose 4 percent to 135 million rupees from 130 million rupees last year, the interim accounts filed with the stock exchange revealed.Haycarb PLC Managing Director Rajitha Kariyawasan said that the downturn in the gold mining industry coupled with […]
‘s Ceylon Chamber economic policy forum kicks off
Aug, 04, 2015 (LBO) – Sri Lanka’s Economic Summit 2015, with the participation of Sri Lanka’s President Maithripala Sirisena and Ranil Wickremesinghe will kick off Tuesday (04), in capital Colombo.The forum will cover national vision including: Policy Implementation and Perspective, A New Global Economic Strategy for Sri Lanka, Driving Exports – Use of Social Media […]
Sri Lanka’s BOI to apply provisions of 2006 to avoid confusions on investments
Aug 04, 2015 (LBO) – Sri Lanka’s Board of Investment on Monday clarified their position with regard to the confusions aroused after the mini budget overruled the previous budget.2015 budget presented by former administration included proposals to be effective from this tax year which starts from 01 April 2015.Even though certain other tax proposals required […]
Volkswagen to invest USD30mn in Sri Lanka for vehicle assembly plant
Aug 04, 2015 (LBO) – German based automobile manufacturer Volkswagen has agreed to invest 30 million US dollars to set up a vehicle assembly plant in Sri Lanka, BOI Chairman Upul Jayasuriya said.“It’s not huge but it’s just the footprint.We have asked them to set it up and given a time period for them to […]
Sri Lankan coco peat to be purchased by Japan
Aug 04, 2015 (LBO) – A team from Zen-Noh, the Japanese National Federation of Agricultural Cooperative Associations, are visiting Sri Lanka to help promote exports of coco peat, a sustainable replacement for peat moss in plant cultivation. The visit of the four-member team has been arranged by the Export Development Board, a Commerce Ministry statement […]
Sri Lanka stocks close higher 0.06-pct
Aug 03, 2015 (LBO) – Sri Lanka’s stocks closed higher 0.06 percent on Monday, with index heavy stocks making gains on expectations of strong corporate earnings and political stability after the upcoming parliamentary polls, brokers said. The Colombo benchmark All Share Price Index closed 4.54 points higher at 7,336.59 up 0.06 percent. The S&P SL20 […]
Sri Lanka’s organizations should recognize minority shareholder interest and pay sufficient dividends
Aug 03, 2015 (LBO) – Sri Lanka’s organizations should recognize minority shareholder interest and pay sufficient attention and dividends, a former head of Sri Lanka’s main business chamber and a company chairman said.“In my view, the most important stakeholder is the shareholder,” Charitha P de Silva, a former chairman of the Ceylon Chamber of Commerce, […]
Sri Lanka E-tel launches smartphone with Sinhala operating system
Aug 03, 2015 (LBO) – Sri Lanka’s E-tel has launched a smartphone in the country with an operating system in Sinhala on the Android platform, a statement said. E-tel phones are manufactured in China and designed in Hong Kong and distributed in Sri Lanka by Brantel. The E-tel ‘Curiosity N2’ offers display icons, system commands […]
Sri Lanka’s Bansei Royal Resort to build a food village in Hikkaduwa to boost revenue
Aug 03, 2015 (LBO) – Sri Lanka’s Bansei Royal Resort, managed by resort chain Jetwing leisure group is planning to build a ‘food village’ in Hikkaduwa, a small beach town on the south coast of Sri Lanka located in the Southern Province.Given the vibe of Hikkaduwa, the company has identified the impetus for tourists and […]