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Montgomery firm lands contract to design and build US Embassy in Sri Lanka

Caddell Construction Co. has received its 26th contract with the U.S. State Department after being awarded the design and build contract for the new U.S. Embassy in Sri Lanka. The Montgomery-based firm will be developing the 6-acre site in Colombo, Sri Lanka. The project will include a new office building, U.S. Marine residence, compound access…

(0)Comments | July 8, 2016 12:41 pm

LankaClear achieves the highest ever Revenue Growth to reach 600Mn

LankaClear (Private) Limited, the operator of Sri Lanka’s National Payment Network LankaPay, held its 14th Annual General Meeting on 30th June 2016 at the Galadari Hotel, Colombo. Incorporated in 2002 under the guidance and approval of the Central Bank of Sri Lanka as the National Cheque Clearing House, LankaClear is owned by the Central Bank…

(0)Comments | July 8, 2016 11:37 am

Richard Pieris Distributors Ltd powers CA Sri Lanka’s 2016 Strategy Summit

Part of one of the country’s leading conglomerates, Richard Pieris Distributors Ltd (Arpico Retail) came onboard to power the 2016 Strategy Summit organized by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka). Richard Pieris Distributors Ltd will be the main sponsor of the two day summit which will be held on 26th…

(0)Comments | July 8, 2016 11:31 am

Sri Lankan shares post over 1-wk closing high on foreign buying

Reuters – Sri Lankan shares rose for a second straight session on Thursday and posted their highest close in more than one week, as foreign investors bought into banking and diversified stocks. Overseas investors, who have offloaded shares worth a net 5.81 billion rupees ($40 million) so far this year, bought equities worth a net…

(0)Comments | July 8, 2016 12:04 am

Fact sheet on International Competitive Bid for Duty Free at Bandaranaike International Airport

The Ministry of Transport and Civil Aviation just concluded the bid opening for the prestigious core category duty free bids for the Bandaranaike International Airport, today (07 July). The Airport and Aviation services, under the Ministry had decided to go for a tender process for the first time. The tender which was floated in May this…

(0)Comments | July 7, 2016 9:09 pm

Britain Leaving the European Union will not have a Major Impact on the Local Economy

President of Colombo Chamber of Commerce Dr. Amila Kankanamge “Such incidents happen in the world from time to time and are not factors that have a large impact on the Sri Lankan economy. What is important is to develop a strong local economy that is not vulnerable to changes caused by international incidents. This can…

(0)Comments | July 7, 2016 4:25 pm

Achilleion – Colombo’s first 7 star luxury residence launched

Blue Mountain join hands with real estate titan Palmer and Turner group Singapore for a landmark residential development project Blue Mountain Apartments together with global real estate titan Palmer and Turner group of Singapore launched the most luxurious and unique apartment complex in Sri Lanka to date, Achilleion. The 7-star residence is set to offer…

(0)Comments | July 7, 2016 3:53 pm

Current tax burden on the people could be removed in a short time as the government’s practising financial disciplines

The current tax burden on the people could be removed in a short period of time as a result of the government’s commitment to practice financial disciplines, says Finance Minister Ravi Karunanayake. He added that the government has taken every possible measures to eliminate waste and corruption in this regard. Coincident with the forthcoming Ramadan…

(0)Comments | July 7, 2016 2:51 pm

BOI And EDB Partnership And Co-Operation To Yield Considerable Economic Benefits

A meeting was held recently between the Board of Investment of Sri Lanka and the Export Development Board, to explore areas of co-operation between the two key economic agencies and work closer towards achieving the nation’s economic goals. Both institutions now come under the Ministry of Development strategies and International Trade headed by Minister Hon….

(0)Comments | July 7, 2016 2:48 pm

Making the State services competitive – VIDEO

A set of Government employees should be created if Sri Lanka’s State services are to be made efficient, said Additional Secretary of the Presidential Secretariat Sunil Hettiarachchi during an interview with Ada Derana Biz 24X7. The full interview is below:

(0)Comments | July 7, 2016 1:20 pm