Cabinet has approved a proposal to encourage investors to set up joint ventures together with the State Pharmaceuticals Manufacturing Corporation (SPMC) to manufacture medicinal drugs locally. This comes in the wake of recommendations by the committee of officials to examine widening the process of manufacturing quality drugs locally with minimal cost. The government has further…
The EASL (Exporters’ Association of Sri Lanka), whilst understanding the current state of the economy, find this budget is more of a corrective nature. It does not address the need to progress the export industry. Aspect such as improving standards of education, encouraging the growth of competitiveness of SMEs, aiming to attract FDIs and setting…
Sri Lankan High Commission in Ottawa in collaboration with the Sri Lanka Tourism Promotion Bureau (SLTPB) and the Sri Lanka Tea Board participated at the International Tourism and Travel Show 2016 in Montreal. This show is one of the largest events in the Canadian travel calendar and saw the participation of 400 exhibitors. It was…
The foundation stone laying ceremonies for establishing two vocational training institutes in Sri Lanka (Vocational Training Centre in Colombo Central; and College of Technology in Gampaha) were held on 17th and 21st November, 2016 respectively under the patronage of the Ambassador of the Republic of Korea to Sri Lanka, Chang, Won-sam, Minister of Skills Development…
• Second quarter fiscal 2017 revenue of $210.1 million increased 2.2% sequentially and 46.9% year-over-year. • Second quarter fiscal 2017 diluted EPS on a GAAP basis was $0.11, and $0.27 on a Non-GAAP basis. • Commenced work with 12 new clients in the fiscal second quarter. • Promotes Samir Dhir to President, Banking and Financial…
Reuters – Sri Lankan shares extended their falls into a seventh session on Tuesday, posting their lowest close since July 4, as investor sentiment was hit by budget tax proposals, including revisions in corporate and withholding taxes. The government aims to boost its 2017 tax revenue by 27 percent to 1.82 trillion rupees (then $12.35…
As bilateral trade between Sri Lanka and China crossed $4 Bn threshold for the first time, a confident Sri Lanka said that the proposed FTA between the two countries shall further solidify this trade growth. “There is a six fold trade growth within a decade -and this trend would grow further as both countries move…
The Condominium Developers Association of Sri Lanka, an affiliated trade body of the Ceylon Chamber of Commerce, which represents the Condominium Developers in the country hailed the Budget Proposals presented to Parliament by the Hon. Ravi Karunanayake, Minister of Finance. The Budget contained a number of progressive proposals to stimulate demand from a new market…
“Japan is one of Sri Lanka’s closest friends with a relationship that has prevailed for centuries and has stood the test of time amidst changing international and domestic political circumstances. In recent years Sri Lanka’s economic partnership with Japan has developed extending beyond trade and tourism. What needs to be done now is to take…
Reuters – Sri Lankan shares fell for a sixth straight session on Monday, posting their lowest close in four and a half months, in thin volume as investor sentiment was hit by budget tax proposals, including revisions in corporate and withholding taxes. The government aims to boost its 2017 tax revenue by 27 percent to…
Video Story
