The Chairman of the Ceylon Cold Stores, Krishan Balendra stated that their, beverage sector brand (Elephant House) has witnessed a 25% decline in volume last year arising from continued tapering of demand on Carbonated Soft Drinks (CSD) due to the price increases taken to mitigate the increased excise duty. Hence, the firm withdrew its ‘Go…
MOSCOW (Reuters) – Russian Energy Minister Alexander Novak said on Monday he could not rule out a scenario in which oil prices could fall to $30 per barrel if the global oil deal was not extended. Novak said there were big risks of oversupply on the market and that Moscow needed to monitor the oil…
According to the latest monthly LMD-Nielsen Business Confidence index (BCI) survey more than two-thirds of respondents consulted by Nielsen, for LMD’s publisher Media Services, anticipates that the economy will worsen over the next 12 months. This sentiment is driven by slow or no investment and in the light of the impact of the mayhem since…
Sri Lanka Telecom yesterday (11) marked a special milestone in the country’s digital journey towards SMART Sri Lanka with the launch of the National Digital Roadmap at the Nelum Pokuna Theatre, under the patronage of President Maithripala Sirisena. The SLT made a contribution to the Kidney Disease Relief Fund on this occasion. The proposed blueprint…
Chinese Envoy says a US-China Trade War is expected to reduce Global GDP by one-third of a percentage point according to IMF World’s second largest economy China that has invested-in and loaned extensively to the Post-War Sri Lanka for over a decade has outlined that a US-China Trade War may cause a reduction of…
Reuters – Sri Lankan shares ended firmer for the third straight session on Tuesday to hit a near one-month closing high on local buying, even as foreign investors continued to pull out funds from equities, while the rupee ended slightly stronger. ** The benchmark stock index ended 0.23% firmer on at 5,335.29, its highest close…
Emerging victorious under the film category of the local Young Lions Competition, the dynamic team of Dawveed Senaratne and Lakshitha Priyankara from Triad (Pvt) Ltd. will represent Sri Lanka at the International Cannes Lions Festival in France. With the capability to bring an idea to life, Dawveed and Lakshitha will compete against global contenders, along…
The Ceylon Chamber will be organizing an awareness session on “Exporting to the United States under the Generalized System of Preferences: New Trends and Opportunities”. The U.S. is Sri Lanka’s largest single export destination, accounting for 26% of total exports in 2018. At present approximately 3500 products from Sri Lanka are eligible to access the US…
Shangri-La Hotel, Colombo recently announced that it will partially reopen on Wednesday, June 12, following the Easter Sunday attacks. “The Shangri-La Group is grateful to the local authorities and the global community for their outpouring of support and messages of commendations received these past seven weeks” the hotel said in a statement. ‘We…
The Government of Sri Lanka signed the Statement of Corporate Intent (SCIs) with ten selected State Owned Enterprises (SOEs) yesterday (10) at the Ministry of Finance. The Department of Public Enterprises (PED) introduced the concept of SCI in 2017 with a view to enhance the performance of SOEs. This concept was approved by the Cabinet…
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