Since the ending of the civil war in year 2009, the increase in local and foreign investments in infrastructure development projects has created an increase in the demand for skilled workers in the construction industry. There have been various initiatives to develop this skilled workforce by the Ministry of Skills Development and Vocational Training. Vocational…
SriLankan Airlines will consolidate its traditional positioning as the largest airline operation in the Maldives, by commencing services to Gan Island on 1st December 2016, in the Indian Ocean island nation. Thus SriLankan Airlines will become the only airline to operate international flights to Gan International Airport, with four flights per week. Accordingly, Gan Island…
Government has decided to commence an internal airline service with the Sri Lanka Air Force under the Public-Private partnership, said the Co-Cabinet spokesman, Minister of Parliamentary Reforms and Mass Media Gayantha Karunathilake said. This service will be established according to the criteria of International Civil Aviation Authority. The proposal made by the President Maithripala Sirisena,…
Reuters – Sri Lankan shares ended slightly higher on Wednesday as investors sought bargains in blue-chips but concerns over recent budget tax proposals weighed on sentiment. The Colombo stock index ended up 0.15 percent at 6,241.10, ending three sessions of losses. The index hit a near-eight-month low on Tuesday on concerns that the proposed hike…
Public Utilities Commission of Sri Lanka (PUCSL) has decided to remove the legal barriers for consumers who wish to enter into the electricity generation based on solar power. Therefore, it has been proposed to exempt the electricity consumers, who generate electricity in small scale through rooftop solar power plants, from obtaining a license to sell…
The Governor of the Central Bank of Sri Lanka, Dr. Indrajit Coomaraswamy addressed at a recent Breakfast Forum organized by the Chartered Institute of Marketing (CIM) Sri Lanka. The event, which was the third programme for the year, was held at the Liberty Ballroom, Ramada Colombo with the participation of top business leaders, CEOs, CIM…
Reuters – Sri Lankan shares fell on Tuesday for the third straight session to end at a near eight-month low as foreign investors trimmed their exposure to the island nation’s risky assets amid concerns over budget tax proposals. The Colombo stock index ended 0.11 percent down at 6,231.87, its lowest close since April 7. The…
The Colombo Stock Exchange (CSE) conducted a successful planned live disaster recovery testing exercise at 11:30 a.m. and recovered successfully at the Disaster Recovery site at 12:30 p.m. on 25th November 2016, where all trading activities and Central Depository Services (CDS) operations were switched over to the remote site during trading hours within the Recovery…
The Microfinance Act, No. 6 of 2016 was enacted with the objective of providing a regulatory framework to cover microfinance institutions that are not regulated at present. The purpose of the Act is to improve the delivery of financial services to low income persons and micro enterprises, increase financial inclusion, strengthen the soundness and systems…
As envisaged, the growth of credit extended to the private sector by commercial banks decelerated considerably during September 2016, in response to monetary policy measures adopted by the Central Bank since end 2015. Accordingly, the year-on-year growth of private sector credit by commercial banks was recorded at 25.6 per cent in the month of September…
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