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…
A new factory which generates about 7,000 jobs for youth will be opened today at the Free Trade Zone in Koggala by Prime Minister Ranil Wickremesinghe. The factory, which is manufacturing gloves, is opened parallel to President Maithripala Sirisena’s second year celebration in office. It has been set up in a land of 12 acres…
During the year 2015-2016 the income of the government has increased by Rs.160 million which is a 30 per cent increase said Finance Minister Ravi Karunanayake. He said the income in 2012 was 1068 million in 2013 it increased to 1153 million, 2014 it increased to 1205 million, 2015 to Rs 1461 million and it…
Reuters – Sri Lankan shares fell for a fifth straight session and ended at a nine-month low on Thursday as foreign investors continued to sell shares, offloading close to one billion rupees worth of stocks in the first four sessions of the new year. Foreign investors sold a net 181.7 million rupees ($1.22 million) worth…
The Monetary Policy Roadmap 2017 released by the Central Bank of Sri Lanka (CBSL) this week provides an encouraging outlook for the Sri Lankan business community. The Ceylon Chamber of Commerce is encouraged by the future plans of the CBSL with regards to monetary policy, price stability, financial system stability and institutional reforms. The Roadmap…
A latest report from the Sri Lanka Tourism Development Authority indicates that 2,050,832 foreign tourists have arrived in Sri Lanka during 2016. This is a growth of 14 per cent when compared against the 1,798,380 tourist arrivals during 2015. Meanwhile, 224,791 tourists have arrived in Sri Lanka during the month of December 2016, which is…
In the face of devastating crop losses in excess of an estimated Rs. 15 billion in 2016, the Planters Association of Ceylon (PA) released a statement pleading with the Government to immediately provide a rational, and effective solution to the management of chemical weeding in the estate sector in a commercially viable manner. Since the…
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