Economic

Sri Lanka, pioneering solar solutions provider, JLanka Technologies Ltd is investing in alternate homegrown technologies not only in smart energy, but also in the field of electric transportation.

Sri Lanka’s value-added industry sector expanded with startups contributing its share in introducing innovative products in large scale during the first quarter this year, Finance Ministry data showed.

The government is mulling to cancel the lease agreements of state owned-valuable estates, land and property leased out to plantation companies and private firms over its failure to pay accumulated lease rent running up to millions of rupees.

The Commercial Bank of Ceylon was awarded the 2019 ‘Quality Choice Prize’by the European Society for Quality Research (ESQR) at an awards ceremony held recently in Berlin, Germany.

Tourism Minister John Amaratunga is to go to Cabinet once again to formalise and fast-track the much-delayed public relations (PR) and global promotion campaigns to boost the country’s image post-Easter Sunday terror attacks.

The Positive Sri Lanka initiative is generating an overwhelming response from the local business community as leading brands step forward to do their bit to restore the economy.

Assuring the Government will do its utmost for a quicker revival, Tourism Development Minister John Amaratunga yesterday hailed the proactive promotional campaign by Cinnamon Hotels and Resorts to boost tourism post-Easter Sunday setback.

Sri Lanka’s tea production in June saw a sharp gain of 3.9 million kilos to 27.1 million kilos from a year earlier.

The World Trade Centers Association (WTCA), of which World Trade Center (WTC) Colombo is a member, celebrates its 50th anniversary this year as the owner of the iconic global “World Trade Center” and “WTC” trademarks.

Sri Lanka treasury is now compelled to mange daily cash flow in a prudent manner as the country is heading for Provincial Council or Presidential elections in the coming months.

We associate the concept of ‘Traceability’ with supply chains. Equally or more important is the traceability of non-biodegradable packing i.e. who is responsible, where does it end up and for how long?

REUTERS: Shares rose for a fourth straight session to hit their highest close in over five months on Friday, led by a rally in beverage and banking stocks along with healthy purchases by domestic investors. The rupee ended flat as inward remittances offset importer dollar demand.

The apparel industry is encouraging the Government to expedite formalities for the establishment of a dedicated textile processing zone.

Customers of Hatton National Bank have been severely inconvenienced with the recent revision in their tariff (commission and service chargers) for its domestic operations and international remittances banking sector analysts alleged.

Says resources recycling not allowed under local Entrepôt trade regulations
Recalls BOI told Hayleys to suspend all future shipments on 26 Jan. 2018
BOI in process of developing new guidelines in consultation with stakeholders

Binod Chaudhary, the Nepalese billionaire and owner of its biggest multinational conglomerate CG Corp Group with investments in Sri Lanka, this week expressed confidence that the island nation can rebound faster post-Easter Sunday setback but requires united action by all stakeholders.

New business registration will be made easy for investors with the enactment of the Companies (Amendment) Bill 2019 in Parliament on Wednesday.

World-renowned The Banker Magazine UK reaffirmed the Bank of Ceylon as being among the ‘Top 1000 Banks in the World’ with the country rank No. 1.