Emerging as one the fastest growing segment within the Sri Lankan livestock sector, the island’s poultry industry continues to make substantial contributions towards the national economy, however producers warned that the staggering 250,000 MT shortfall in domestic maize production continues to drastically hamper industry growth, with the Mr. Ajith Gunasekara, President of All Island Poultry…
Top professionals Johann Wijesinghe and Prof. Arjuna de Silva had been appointed to the SriLankan Airlines Board of Directors recently increasing the total of the Board to 7 Directors. The two will join the current board lead by former banker and former ministry secretary Ranjith Fernando, Mano Tittawella, Susantha Katugampala, Dr. Roshan Perera and Kapila…
Beats terminals in China, Indonesia and Philippines to win coveted AFLAS award in Under 4 million TEUs category The CMPort managed Colombo International Container Terminal (CICT) was adjudged the Best Container Terminal in Asia in the Under 4 million TEUs category at the respected Asian Freight, Logistics and Supply Chain (AFLAS) Awards, bringing pride to…
Now equipped to produce 42 million metres to tap into growing EU market post resumption of GSP Teejay Lanka, one of the region’s largest textile manufacturers, has announced a doubling of capacity of its Indian mill, following the completion of an expansion project involving an investment of US$ 15 million (more than Rs 2.3 billion…
Bloomberg – Aston Martin is reviving the Lagonda brand with a battery-powered sport utility vehicle to compete in a growing pool of electrified ultra-luxury cars. The manufacturer will unveil the vehicle in 2021 after showing a radical concept of the all-but defunct Lagonda brand at the Geneva car show in March. The car will come at least…
The Monetary Board of the Central Bank of Sri Lanka (CBSL), having considered the critical financial conditions of ETIFL and the possible implications to the financial system, decided to permit and facilitate ETIFL to sell its holding of shares in subsidiary and sub-subsidiary companies and investment properties, based on a proposal submitted by the Board…
The latest edition of renown business magazine LMD reports a decline of 19 basis points in the LMD-Nielsen Business Confidence Index (BCI). Whilst it had fell to 98 in April, a 70-month low or the lowest in 6 years, LMD notes that this is the second time the index has fallen below the 100 mark…
The Mahaweli Water Security Investment Program is one of the major ongoing investment programmes currently being implemented under the loan assistance of the Asian Development Bank (ADB). The total investment cost of this program is USD 675 million of which USD 453 million will be provided by ADB under Multi – tranche Financing Facility (MFF)….
“The downward trend in sentiment continues on the back of below par economic growth”, Sri Lanka’s leading Business Magazine LMD said in a recent Opinion Poll on country’s economy in a comprehensive report. “Optimism regarding the economy continues to dwindle as a mere five percent of respondents (vs 11% in March) expect an improvement over…
Sri Lanka’s Indian Oil Company (IOC) owned fuel retailer Lanka IOC will be forced to implement its own pricing mechanism to minimise losses if the government fails to implement its proposed fuel price formula, the company had said on Friday to according to a Reuters report. Lanka IOC’s Managing Director Shyam Bohra speaking to Reuters…
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