~ Sweeps up five awards in its fifth consecutive year on the Index 99X Technology stole the show at the Great Place To Work awards ceremony this year, held on the 28 June at Cinnamon Grand Colombo, when it was felicitated with five awards, and was among the first companies in the country to be…
The Government of Japan in accordance with the long term economic cooperation between the two Countries has agreed to provide grant assistance of Rs. 3,422 million under the Grant Aid Program for the Establishment of a Radar Weather Network in Sri Lanka. The signing of Exchange of Notes and Grant Agreement pertaining to the above…
The Ceylon Chamber of Commerce appointed Mr. Rajendra Theagarajah as its new Chairman during its 178th AGM held at the Cinnamon Grand Hotel, Colombo on the 29th June, 2017. Mr. Theagarajah, a veteran banker, succeeds the outgoing Chairman Mr. Samantha Ranatunga, who led the Chamber during the past two years. He functioned as the Vice…
Technicalities of the Gem and Jewelry Industry When glancing at a glittering jewel or an intricate piece of jewelry, one rarely pauses to think of the tale that lies behind the glimmer and shimmer. The production of gems and jewelry consists of three main segments – Lapidary Work, Jewelry Manufacturing and Laboratory Testing. The Lapidary…
Reuters – Sri Lankan stocks edged higher on Thursday led by shares of diversified companies as foreign buying continued, while concerns over a proposed tax bill weighed on overall investor sentiment. The Colombo stock index ended 0.08 percent firmer at 6,702.53, edging up from its lowest close since June 19 hit on Wednesday. Foreign investors…
Textiles and garments industry in Sri Lanka depends heavily on imported raw material and accessories. More than 70 per cent of the raw material and 70pct -90pct of the accessories used in this industry are imported. Since fabrics and accessories account for more than 70pctof the cost of production, lack of backward linkages is a…
Plans to undertake a feasibility study and do the groundwork for the project Sri Lanka will soon kick-start the process of setting up a solar power plant in eastern port town Trincomalee after discussions with India, which is partnering the Government in the initiative. “The next step would be to undertake a feasibility study and…
Court refuses injunction to prevent the Airline doing its own duty-free operations Hon. Ruwan Fernando, Judge of the Commercial High Court, Colombo, on 23rd June 2017, refused the Interim Injunctions sought by DFP Canada Ltd against SriLankan Airlines Ltd. The Court also dissolved the enjoining orders previously issued. DFP Canada Ltd (DFP) filed action claiming…
Minister of Finance and Mass Media Mangala Samaraweera yesterday (28th June) met the representatives of the Chamber of Provincial Entrepreneurs at the Ministry of Finance and held discussion to iron the difficulties faced by them. The representatives briefed Minister Samaraweera on the issues faced by them especially with regard to the calculation of taxes. They…
Reuters – Sri Lankan shares closed slightly lower on Wednesday as blue chips fell, but foreign buying capped losses while local investors continued to wait for more clarity on a new tax bill. The Colombo stock index ended 0.09 percent weaker at 6,697.08, its lowest close since June 19. The bourse fell 0.05 percent last…
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