As one of Sri Lanka’s leading textile manufacturer, having completed the initial Rs. 1 billion expansion program, South Asia Textiles as now decided to embark on another very ambitious expansion programme to infuse the very latest state-of-art textile technology and machinery into its existing factory. This investment is likely to exceed US$ 3 million at…
Hyundai will be launching the 2016 Tucson in India on November 14, 2016. The automaker was previously planning to introduce it on October 24, but the launch was delayed without revealing any reason. The Tucson will be placed in between the Creta and the Santa Fe in the company’s Indian portfolio. It is likely to…
The Ceylon Chamber of Commerce will conduct its third consecutive annual seminar held to create awareness among the corporates on how to prepare good annual reports. Titled, “Best Practices to be adopted in preparation of annual reports’, the seminar will be addressed by Mr. Sanjaya Bandara, CA Sri Lanka Annual Reports Awards Committee and also…
The Tea exporters Association (T.E.A) recently held a press conference in lieu of its Annual General Meeting at the Cedar Room of Cinnamon Grand Hotel amidst the newly sworn in management committee of the Tea Exporters Association. The press gathering was hosted primarily to announce the office bearers of the Tea Exporters’ Association for the…
By Dinesh De Silva – Chairman Import Section of the Ceylon Chamber of Commerce The impact of shipping surcharges including terminal handling charges have been battering the Import and Export industry from 1991 to 2004. Import Export trade knowing the effects on their respective business and keeping the end consumer in mind lobbied with every…
Seylan Bank continued its growth momentum by recording a Profit after Income of Rs. 2,828 Million, for the 9 months ended 30th September 2016. This is a 3.6% increase over the Rs. 2,730 Million reported for the corresponding period of 2015 and has been achieved despite rising interest rates. Interest income grew by 33.7% driven…
Reuters – Sri Lankan shares ended weaker on Friday in thin trading, hovering near a 12-week closing low hit earlier in the week, as the prime minister’s plan for improving the investment climate failed to bring cheer to the market. Sri Lanka will introduce concessions on investments and a lower tax regime in its budget…
The World Bank’s latest Sri Lanka Development Update – a half-yearly report on the Sri Lankan economy and its prospects – finds that monetary and fiscal policy corrections and the start of a new IMF program have contributed to improving short-term stability of Sri Lanka’s economy. The report emphasizes the importance of adhering to the…
International Finance Corporation (IFC), a member of the World Bank Group, has readily extended its support to women business and SME initiatives by Sri Lanka’s Ministry of Industry and Commerce thus boosting Ministry’s blueprints on Lankan SME development. Praising Minister Rishad Bathiudeen for his ‘holistic approach to Lankan entrepreneurship’, a high profile IFC official said…
Sarvodaya Development Finance announces the appointment of Channa de Silva as its new Chairman on the retirement of Mr. Eastman Narangoda, who led the successful transformation process of Sarvodaya Development Finance formerly known as Deshodaya Development Finance Company Limited (DDFC). The Sarvodaya Development Finance Limited evolved from deep rooted commitment to nation building and development…
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