Economic

Chinese tyre manufacturer Shandong Haohua Tyre’s plan to set up a $ 300 million project to manufacture tyres for the export market received Cabinet approval to be marked for significant tax concessions under the Strategic Development Act (SDA).

Business leader Dhammika Perera who of late has aggressively promoting free but quality education on a philanthropic basis has launched a ‘digital university,’ a platform where learners get access to free online courses offered by various reputed universities and institutions around the world.

Respected business leader Suresh de Mel has been appointed as the new Chairman of the Sri Lanka Export Development Board (SLEDB) with immediate effect by President Gotabaya Rajapaksa.

The decision to scrap the Colombo Light Rail Transit (LRT) was taken as it is not a priority project for the Government, State Minister of Money, Capital Markets and State Enterprise Reforms Ajith Nivard Cabraal told Parliament yesterday.

The discourse on the impacts of artificial toddy racketeers on Sri Lanka’s socio-economic fabric continued in Parliament end last week, with State Minister Nivard Cabraal revealing in Parliament that he had requested the Secretary to the Treasury and the Department of Excise to submit a report with regards to queries raised in the House.

The Colombo stock market gathered further momentum yesterday, with gains reaching a 30-month high and turnover hitting an over three-week peak thanks to strategic play.

The upward momentum at the Colombo Stock Market continued with indices gaining sharper to cross the 6,500 points level amidst higher turnover.

Newly appointed Chairman of the Export Development Board Suresh de Mel yesterday pledged to do his best for brand ‘Sri Lanka’ exports, especially by small and medium enterprises.

State Minister of Money, Capital Markets and State Enterprise Reforms Ajith Nivard Cabraal told Parliament on Wednesday that the downgrade of Sri Lanka’s rating by Fitch rating was based on ill-informed model projections without any evidence-based and objective analysis.

SriLankan Airlines yesterday became the first global carrier to operate a flight to Melbourne, Australia’s second-largest city, post-COVID.

Sri Lanka Telecom PLC (SLT) has initiated a 3-year strategic business plan continuing its commitment towards customer value propositions, SLT sources revealed.

Prominent exporter and industrialist Prabhash Subasinghe has announced his decision to step down as Chairman of the Sri Lanka Export Development Board from end of December 2020.

The International Chamber of Commerce of Sri Lanka (ICCSL), the Chartered Institute of Management Accountants (CIMA) and the Daily FT have announced the winners of the coveted Most Admired Companies of Sri Lanka in the 2019/20 financial year.

Sri Lanka Tea Board has stepped up its support of the industry by setting up a funding scheme for high shade trees for tea lands of over 10 acres.

ලෝකයේ වේගයෙන්ම වර්ධනය වන නිර්මාණශීලී ජංගම දුරකතන සන්නාමය වන OPPO, එළඹෙන උත්සව සමය වෙනුවෙන් ‘O Fans Festival’නමින් සුවිශේෂී ප්‍රවර්ධන වැඩසටහනක් දියත් කිරීමට සැලසුම් කර තිබේ. මෙම ප්‍රවර්ධන වැඩසටහන තුළදී පාරිභෝගිකයන්ට දෙසැම්බර් මාසය පුරා OPPO උපාංග වර්ග රාශියක් සඳහා සුවිශේෂී වට්ටම් හා දීමනා හිමිවනු ඇත.

The Sri Lankan Government implemented measures to protect the country’s currency by slapping a temporary vehicle import ban in March, 20 in the face of the COVID-19 threat.

SriLankan Airlines, the National Carrier of Sri Lanka and a member of the oneworld alliance, has won the prestigious ‘World’s Leading Airline to the Indian Ocean’ title once again at the World Travel Awards Grand Final held in Moscow.

Industry leaders yesterday welcomed President Gotabaya Rajapaksa’s keenness to reopen borders and resume tourism as early as possible.