The Spanish hotel chain has chosen Sri Lanka for its first resort in Asia Riu Sri Lanka hotel has been chosen this year Rising Star 2016 in the recent Expedia Annual Partner Awards. The hotel opened its doors in August 2016 and is the chain’s first resort in the Asian continent. Its location in Ahungalla,…
Thailand is ready to extend its assistance toward Sri Lanka to enable the island to further strengthen its existing process of tax collection, Ambassador of Thailand to Sri Lanka Mr. Nopporn Adchariyavanich said. The ambassador pointed out those tax evaders should be identified clearly and they should be guided properly in order to increase the…
Moody’s Investors Service says that Sri Lanka’s (B1 negative) program with the International Monetary Fund (IMF) has helped stabilize the balance of payments and established an ambitious roadmap to fiscal consolidation and structural reform. However, sustained implementation of reforms will be challenging. The 2017 budget confirms the government’s strong commitment to fiscal consolidation with a…
Sri Lanka’s largest bank, the Bank of Ceylon is opening the subscription list of its 8th listed Rupee debenture issue on 21st December 2016. “Bank of Ceylon is the largest issuer of debentures in the Sri Lankan Debt market with over 77 years of trust, stability and leadership in the Sri Lankan banking industry, the…
Reuters – Sri Lankan Prime Minister Ranil Wickremesinghe has ordered a reversal and a probe into the 1.3 billion rupees ($8.7 million) Seylan Bank foreign deal as it failed to follow proper procedure, the country’s finance minister said on Monday. On Friday, 13 million shares or 7 percent stake in Seylan Bank owned by state-run…
“Sri Lanka is an extremely hospitable country. This is reflected through the warm smiles and welcoming nature of the local people, which is often a rare sight elsewhere in the world. Sri Lanka is also a nation famed for its scenic beauty and excellent tourist services. Thus, it is an ideal destination for most holidaymakers….
As the festival season’ demand surged, Minister of Industry and Commerce Rishad Bathiudeen has instructed his officials to take immediate action to release freshly milled rice to the market, to strengthen the rice supply. “We want to act fast on Prime Minister Ranil Wickremeshinghe’s directive” said Minister Bathiudeen on 19 December. Minister Bathiudeen is moving…
Tokyo Cement Company (Lanka) PLC commenced initial testing of a cutting-edge cement manufacturing plant in Trincomalee at a soft opening ceremony held on the 8th of December. The fully-automated, hi-tech plant is the company’s fourth mill and is slated to nearly double their production capacity when it begins commercial operations in February 2017. The cement…
The Gemcon Group, one of Bangladesh’s top business conglomerates (including the leading supermarket chain Meena Bazar), has engaged MTI to for the 8th project since MTI’s inception in Bangladesh in 2006. This reflects Gemcon’s trust and confidence on the advisory services of MTI Consulting and also MTIs ability to generate bottom-line impact for the development…
The Index of Industrial Production (IIP) is an important indicator of economic performance and its main purpose is to provide a measure of the short-term changes in the volume of industrial production over a given period of time. It can be used to identify the turning points in economic development at an early stage. DCS…
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