A top Cabinet Minister and Sri Lanka’s apex exports facilitator EDB joined forces on 05 February to create Sri Lanka exports’ next big win-and the bulk of Lankan footwear and leather exports are footwear, rather than leather. “It is a great pleasure to see this series of exhibitions initiated by the Ministry of Industry and…
Sri Lankan-born Alere CEO Namal Nawana would receive about $11.1 million in one-time payouts after the Alere’s acquisition id completed by Abbott Laboratories, according to media reports. Nawana took over as CEO when Alere founder and former CEO Ron Zwanzger resigned in 2014. Quoting financial filings, Boston Business Journal reported that Nawana would receive about…
~ Quality of life of plantation workers set to improve with over Rs. 3,200 million committed by the World Bank alone in addition to other projects The Quality of life of the nearly one million population residing in Regional Plantation Company (RPC) estates is set to improve substantially, as a result of several major projects…
Singer (Sri Lanka) PLC, one of the nation’s largest and most successful diversified companies recently forayed into the education sector, offering a diverse range of training and development programmes for the corporate sector through its newly established Singer Business School. A subsidiary of the Singer Group, the Singer Business School (SBS) leverages Singer’s heritage built…
Indian Express – The Sri Lankan industry is exploring opportunities in ayurveda, coconut and rubber products in Kerala, said Federation of Chambers of Commerce and Industry of Sri Lanka president Sarath Kahapalarachchi. He was speaking to ‘Express’ on the sidelines of the Kerala Business-to-Business Meet – 2016 at the CIAL Trade Fair and Exhibition Centre…
The Central Bank of Sri Lanka is pleased to announce that, with immediate effect, restrictions on remitting and transacting foreign currencies are eased. Foreign currencies can henceforth be remitted out of NRFC, RFC and RNNFC accounts and FEEA for any purpose and prior approval need NOT be obtained for such remittances. Up to USD 10,000…
Public Utilities Commission of Sri Lanka (PUCSL), the electricity regulator of Sri Lanka said the pre-feasibility study for Sri Lanka-India HVDC grid interconnection project is completed. However legal amendments are required on the areas of open access, electricity trading, partnership of cross border generation expansion, operation of cross boarder transmission licensees etc, the commission says….
The Footwear and Leather Fair 2016, the eighth in its successful series, opens today 05 February morning at BMICH. The Footwear and Leather fair series is a joint effort of Ministry of Development Strategies and International Trade, Sri Lanka Export Development Board (EDB), the Ministry of Industry and Commerce, the Industrial Development Board and Sri…
Hackers in China attempted to access over 20 million active accounts on Alibaba Group Holding Ltd’s Taobao e-commerce website using Alibaba’s own cloud computing service, according to a state media report posted on the Internet regulator’s website. Analysts said the report from The Paper led to the price of Alibaba’s U.S.-listed shares falling as much…
All banks can now access digitalized settlement schedules securely through the CDS – DS3 online portal The Central Depository System (CDS) a fully owned subsidiary of the Colombo Stock Exchange (CSE) recently partnered with LankaPay, the national payment network, to provide a fully-fledged digital experience to its settlement banks via the CDS – Digitalized Settlement…
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