Pakistan and Sri Lanka have intensified engagement and undertaken substantive measures to further deepen and broaden the economic and political ties between the two countries, an envoy said here on Wednesday. Pakistan’s High Commissioner in Sri Lanka, Syed Shakeel Hussain, speaking at a ceremony to mark the 76th Pakistan Day, said here that Sri Lankan…
The Exporters Association of Sri Lanka (EASL) records its appreciation and welcomes the recent announcement that the Commonwealth Secretariat has offered technical assistance towards the Government’s initiative to set up the proposed EXIM Bank facility as was declared in the recent Budget. The EASL articulated this need for many years. Its considered opinion is that…
ZEN Rooms (powered by Rocket Internet) confirms its #1 position in the South East Asia budget hotel sector by announcing the opening of operations in 4 new countries: Thailand, Singapore, Sri Lanka and Philippines. In line with its slogan Sleep Well, Pay Less!, ZEN Rooms has assisted thousands of travellers on short and long stays…
Upon successful completion of several projects, Coral Property Developers says that their latest mega project “Coral City” in Gampaha is tipped to pave way for a greater urbanization in the years to come. “The Coral City will undoubtedly be an iconic landmark and will add to the changing landscape to Gampaha,” Chairman of Coral Holdings…
Hero Cycles Ltd has acquired a majority stake in Sri Lanka based bike exporter BSH Ventures Ltd. With this move India’s biggest bike maker Hero wants to take advantage of the benefits associated with Sri Lanka regaining the GSP+ import duty free status. This allows for Sri Lankan made bikes to be imported duty free…
There will not be any increase in telephone tariffs following the proposed tax amendments by the government, said Sri Lanka Telecom Chairman Kumarasinghe Sirisena. He pointed out that neither the Finance Ministry nor the government has made any directives in this regard when Ada Derana Biz inquired whether there would be any tariff hikes on…
One of the world’s leading financial magazines has rated Commercial Bank of Ceylon PLC the Best Bank in Sri Lanka, reaffirming the Bank’s status as the leader in its field for an emphatic 17th year. Global Finance’s just-released 2016 list of the world’s 25 Best Emerging Markets Banks in Africa, Asia-Pacific, Central & Eastern Europe,…
The newly appointed Netherlands Ambassador to Sri Lanka and Maldives Her Excellency Ms. Joanne Doornewaard will meet the Sri Lankan business community at a Luncheon meeting to be held on the 24th of March at the Colombo Club. The meeting which is facilitated by the Sri Lanka Benelux Business Council of the Ceylon Chamber of…
Inflation, as measured by the change in the National Consumer Price Index (NCPI) (2013=100), which is compiled by the Department of Census and Statistics, increased to 1.7 per cent in February 2016 from -0.7 per cent in January 2016, on year-on-year basis. The main contributor towards the increase in year-on-year inflation was the Non-food category,…
IFC, a member of the World Bank Group, with the support of the Government of Canada, will invest $15 million in Sri Lankan retail chain Richard Pieris Distributors Limited. The investment will help the company expand its modern retail network, support job creation, and develop local supply chains. It will also be used to install…
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