Ravi Karunanayake has won the Finance Minister of the Year award for Asia-Pacific for his efforts to steer Sri Lanka into a new era of economic reform and a change of mindset. Crucially, Mr Karunanayake secured a $1.5bn International Monetary Fund (IMF) loan programme that the country needed to avoid a balance of payments crisis,…
MANIPAL: Manipal Assisted Reproduction Centre (MARC) at Kasturba Medical College and Hospital, Manipal signed a memorandum of understanding with Apeksha IVF and Research Center, Sri Lanka for treatment and research and development programmes at Kasturba Hospital on Monday. The MoU will help Sri Lankans with fertility problems as MARC offers a wide range of treatment…
Reuters – Jan 9 Sri Lankan shares were little changed on Monday after hitting a nine-month low last week as uncertainty over the government’s monetary and budget policies continued to weigh on the market. But foreign investors were net buyers on Monday for a second session after five straight sessions of net-selling through Thursday. They…
German carmaker, Volkswagen has announced a significant recall of around 50,000 cars, which it has sold in the Chinese market. The recall has been issued for its two models, Beetle and Golf, owing to a problem regarding the braking of the cars, while the cruise control is engaged. The vehicles which have been included in…
Introduction of ‘Commercial Mediation’ will offer Sri Lanka’s business community an optional dispute resolution mechanism in addition to litigation and Arbitration, both of which are riddled with delay and expense. Mediation, if practiced in strict compliance with its intrinsic principles offers a process that will hopefully be devoid of those evils, said Mrs. Dhara Wijayatilake,…
The smooth functioning of SriLankan Airlines’ codeshare partnerships in the Western and Central European region contributed in a significant manner to the growth of tourist arrivals to Sri Lanka in 2016, which expanded by 14% and crossed the 2 million milestone. SriLankan made a significant change in strategy in the fourth quarter of 2016 by…
The Jaffna International Trade Fair (JITF 2017), the largest Consumer Exhibition and Trade Fair in the fast-growing northern region of Sri Lanka, will be held from 27th to 29th January, 2017 for the 8th consecutive year, with all arrangements in place to make it a great success for private and public sector companies, suppliers, buyers/procurers,…
Ceylon Tobacco Company PLC (CTC) says that the revenue model which would have earned the government of Sri Lanka around Rs. 100 billion in 2016 is now broken. The company notes that the excise and VAT hikes in October and November last year, which led to a staggering 43% price increase in legally manufactured cigarettes,…
Participating in an International Monetary Fund (IMF) programme is similar to one falling ill and being admitted to hospital, that though the Sri Lankan economy has not become a seriously ill patient who should be admitted to the intensive care unit (ICU), but has clearly become a patient who had to be admitted to hospital,…
The government will be able to create 20,000 job opportunities with the opening factories that has good visionary leadership and modern technology such as RIGID, Prime Minister Ranil Wickremesinghe said. The Prime Minister made these comments speaking at the ceremony to lay the foundation stone to build Sri Lanka’s largest integrated tyre manufacturing plant at…
Video Story
