* Productivity-based formula provides opportunity for workers to improve earnings through greater output Pointing out that the demand of plantation sector trade unions for an unconditional increase of the daily wage of estate workers to Rs. 1,000 – a massive 62% increase from the Rs. 620 at present – is inconceivable in any industry, Regional…
Colombo bourse continued the winning streak for the third day and closed the session with gains on a critical day for domestic politics. Accepting nominations for the August general election was closed today and major political parties handed over the much debated nominations lists to the election commissioner. In today’s trading session ASI crossed 7,000…
The Pathfinder Foundation in its blueprint on economic reform, ‘Charting the Way Forward: Prosperity for All’, highlighted the following paragraph: Sri Lanka needs to follow good practice which is being pursued by an increasing number of countries around the world. All hand-outs, subsidies and other welfare measures included in the manifestos should be costed and…
The Colombo Stock Exchange (CSE) signed a Memorandum of Understanding (MoU) with the Maldives Stock Exchange (MSE) in order to help foster prosperity of the respective financial markets, promote cross border investment, cross border listing and explore other opportunities for cooperation between the two Exchanges. The Exchanges anticipate developing a closer working relationship in the…
The Cabinet also approved a proposal by Minister of Ports and Shipping Arjuna Ranatunga to call for expression of interests and issue Request for Proposals from interested parties to maintain operations of the multipurpose berth of the Phase 01 of the Hambantota port as a joint venture with a Ro-Ro vessel/terminal operator and to appoint…
The Cabinet approved a joint proposal by Ministers of Internal Transport R.M. Ranjith Madduma Bandara and Power and Energy Patali Champika Ranawaka to grant policy priority to electrify the Colombo urban railway service, starting with urban railways, to match contemporary global standards. As an initial step towards this, a steering committee is to be formed…
Around 25,000 government servants go on retirement annually. A system of paying their retirement bonus allowances expeditiously by the State Banks has been introduced. This task is being carried out productively and efficiently at present. The Cabinet approved a proposal by Finance Minister Ravi Karunanayake to empower the Treasury to increase the amount of revolving…
The sale and transfer of the land and premises bearing No. 37, Horton Place, Colombo 07, owned by Asiri Central Hospitals Limited, a subsidiary of Asiri Hospital Holdings PLC was completed today (09 July) for a total consideration of Rs. 2,700,000,000.
Colombo shares recovered some lost ground on Thursday ending the three day losing streak. The main bourse advanced by 23.26 index points or -0.34% to end at 6,947.05 while S&P SL 20 index gained 20.34 points (+0.53%) to end at 3,870.71. Blue chips gave the market momentum as heavy weight counters like John Keells Holdings…
Indians are getting richer – and fast. Faster, that is, than several other countries in the world. Most studies published of late point in the same direction – one that suggests that the number of new wealthy households in the country is growing faster than anywhere else in the world on the back of a…
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