The NIFT-TEA Knitwear Institute, promoted by Tirupur garment exporters, on Friday, has signed a draft Memorandum of Understanding (MoU) with the Sri Lanka Institute of Textile and Apparel under the Lankan government, for utilising the Lankan expertise on production management. The draft MoU, signed in Colombo between the representatives of NIFT-TEA Institute and Sri Lankan…
KUCHING: DNC Asiatic Holdings Sdn Bhd, which has invested some RM10mil to develop the market for its Malaysian-made Demak motorcycles in Sri Lanka, has plans to set up manufacturing facilities there. According to executive director Hu Ying, the company would consider setting up a manufacturing plant in Sri Lanka once the Demak brand is firmly…
IFC Country Manager for Sri Lanka and Maldives Ms. Ameena Arif visited The Ceylon Chamber of Commerce last week. She was met by the Chairman of the CCC, Mr. Samantha Ranatunga. During the discussion, Mr. Samantha Ranatunga said, the Ceylon Chamber of Commerce is keen to work with the IFC. “Chamber has a very rich…
Designated banking partner for country’s first Hybrid Debit Card coupled with Sony’s Near Field Communication technology The Commercial Bank of Ceylon’s participation in a ground-breaking initiative in Sri Lanka’s tea plantation sector to automate the process of procurement of tea leaves and settlement for bought leaf will result in sophisticated technology and banking services reaching…
Diesel & Motor Engineering PLC (DIMO) recently appointed four new directors to its Board effective from 1st June 2016. The new directors are Mr Asite Talwatte, Mr Vijitha Bandara, Mr Wijith Pushpawela and Mr Chaminda Ranawana. Mr Asite Talwatte is the former Country Managing Partner at Ernst & Young, a position in which he served…
Sri Lanka on Thursday announced plans to lift six-decade-old restrictions on foreign exchange flows and allow free transfer of money in and out of the island, to encourage investment in the struggling economy. The island tightly controls foreign currency transactions under a 1953 law that does not allow the free repatriation of capital, in an…
Reuters – Sri Lankan shares ended steady on Friday as positive sentiment after an IMF loan approval offset concerns over rising interest rates and foreign fund outflows. Turnover was 275.1 million rupees ($1.90 million), the lowest since March 19, and less than half of this year’s daily average of around 773.2 million rupees. The benchmark…
A diverse set of domestic cement majors like Dalmia Bharat, Shree Cements along with South-based Ramco are in hot pursuit of LafargeHolcim’s Sri Lankan operations that the global cement major is divesting as part of a global portfolio realignment. These players have been shortlisted after an initial round of screening and are competing with local…
Reuters – Sri Lankan shares closed steady on Thursday as positive sentiment after an IMF loan approval offset concerns over rising interest rates and foreign fund outflows. Turnover was 326.9 million rupees ($2.25 million), the lowest since March 19, and less than half of this year’s daily average of around 778 million rupees. The benchmark…
At WCIC’s Woman Entrepreneur of the Year awards event To recognize the exceptional performance of women in the business of exports, Sri Lanka Export Development Board (SLEDB) has come forward as the principal sponsor for ‘Woman Exporter of the Year’ award, to be given out at one of the most coveted ceremonies where successful women…
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