By Shehan Baranage Main Chinese lenders to Sri Lanka say they have offered the best interest rates to Sri Lanka for their loans and that they do not have any hidden agendas in lending to this country.“We do not have strings attached to these loans as some others have,” firmly reiterated a top official of…
Referring to recent media reports, which pointed towards bribery and corruption involving the pharmaceutical industry as a whole, the Sri Lanka Chamber of Pharmaceutical Industry (SLCPI) went on record saying that they wished to clearly distance themselves from such allegations. The Pharmaceutical Chamber reiterates that it has and will always support the National Medicines Regulatory…
Blue Ocean Ventures and the Indian Angel Network in partnership with the Lankan Angel Network announced the launch of Venture Engine 2015 at an event held at the OZO Colombo. Since its inception in 2012, Venture Engine has been helping entrepreneurs to take their businesses to the next level and has proven to be both…
* At present unit labour cost is highest but productivity is the lowest in the world in Lankan plantations Planters’ Association of Ceylon Chairman, Roshan Rajadurai in a media statement, explains the current position on Sri Lankan plantation worker wages, noting that while labour costs in the country are the highest in the sector, especially…
Colombo equities slumped further on Wednesday despite the drop in T-Bill yields. The core index declined to 6,973.03 with a drop of 24.90 points (-0.38%) while S&P SL 20 index lost 15.86 points or -0.40% to close at 3,961.31. Today’s losses were mainly driven by the counters such as Ceylon Tobacco (closed at LKR 1,011.00,…
Sathosa Motors PLC’s Managing Director Sumal J.S. Perera has been appointed as the company’s chairman with effect from 01 April with the resignation of Ajitha de Zoysa as Chairman and Non-Executive Independent Director effective 31 March 2015. Meanwhile, serving Executive Director Tilak Dias Gunasekara will be appointed Managing Diractor of Sathosa Motors PLC effective 01…
Four separate Chinese delegations, representing different Chinese provinces will arrive in Sri Lanka during this week to strengthen bilateral trade and commercial ties between the two countries, says The Ceylon Chamber of Commerce. The delegations, to be facilitated by the Sri Lanka – China Business Council are expected to arrive in the country on 26,…
Fitch Ratings has withdrawn the rating on John Keells Holdings PLC (JKH). Prior to the withdrawal, JKH’s National Long-Term Rating was at ‘AA+(lka)’ with Stable Outlook. The rating has been withdrawn because there will be insufficient information to maintain the rating as the issuer will no longer be taking part in the rating process. Fitch…
The Supreme Court issued a stay order on the Gazette notification issued by the new government imposing a Rs. 200 million monthly tax on liquor and beer distilleries in Sri Lanka. Recently, the Medium Scale Distillery Employees’ Union claimed that with the new government introducing a monthly tax of Rs. 200 million on each local…
Sri Lanka’s sea foods export earnings have been reportedly hit badly due to the ban imposed by the European Union on the island’s marine products exports. According to the Central Bank of Sri Lanka’s latest data, Sri Lanka’s marine product export earnings have dropped by 23.8 per cent during January 2015. Sri Lanka earning USD…
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