The ninth Footwear and Leather Fair 2017 organized by the Ministry of Industry and Commerce in collaboration with the Industrial Development Board, Sri Lanka Footwear and Leather Products Manufactures Association, and Export Development Board will be held from 3rd – 5th February at BMICH. The exhibition, which paves the way to exchange the technology with…
Group turnover for the 9 months of the financial year 2016/17 was Rs. 18 billion, compared to Rs.16 billion for the same period of the previous year. The Hand Protection sector contributed Rs. 11 billion to the Group’s top line, while the Plantation sector recorded a turnover of Rs. 7 billion for the period. The…
Reuters – Sri Lankan shares fell on Tuesday to end near a 10-month low as foreign investors sold equities amid political instability and on worries of further interest rate hikes, brokers said. While investors turned cautious after the government’s coalition partners decided to contest local polls separately, a rise in treasury bill yields last week…
Ceylon Tobacco Company PLC (CTC) announced today that it will be closing its leaf depots situated in Anuradhapura and Sigiriya. In December 2016 the company announced that it was considering the closure of 4 leaf depots, due to the sharp drop in demand for tobacco leaf as a result of declining volumes. In the first…
The Central Bank today launched a new book titled “A Survey of Financial System” authored by Mr. P Samarasiri, Deputy Governor. This is the fourth book authored by Mr. Samarasiri and published by the Central Bank. The book’s presentation is targeted for students, teachers and policymakers who look for basics on financial transactions and operations…
Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator issued guidelines to the Ceylon Electricity Board (CEB) and the Lanka Electricity Company private limited (LECO) to pay an interest on security deposit of electricity consumers which CEB and LECO receive when providing an electricity connection. Electricity consumers are entitled to receive a payment…
Two students of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) emerged as champions of the South Asian region at the inaugural IFRS Quiz Contest organised by the South Asian Federation of Accountants (SAFA). Ravindi Sandini, a business level student and Hakeem Halwan, a corporate level student of CA Sri Lanka beat…
Import of shoes to the country has reduced from 60 percent to 20 percent while the export of locally manufactured shoes has increased, Minister of Industry and Commerce Rishard Bathiudeen said. He stated this at a meeting with a group of leather goods manufacturers at the ministry. In 2013, Sri Lanka earned Rs.3, 800…
<b><i>~ United Motors profits crash by 61 per cent</i></b> By now the revenue of motor vehicle sales centres have reportedly dropped drastically due to the tax policies on motor vehicles that are currently in force. While United Motors Lanka PLC, a public listed company with the Colombo Stock Exchange released its annual report for the…
Finance Minister Ravi Karunanayake and Development Strategies and International Trade Minister Malik Samarawickrama recently concluded a one day official visit to Brussels. The two Ministers met with leading Belgian and European companies at a business roundtable hosted by Flanders Investment & Trade (FIT) and engaged in a productive interactive dialogue.These companies expressed keen interest to…
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