Inflation, as measured by the change in the National Consumer Price Index (NCPI) (2013=100), compiled by the Department of Census and Statistics, increased to 2.2 per cent in March 2016 from 1.7 per cent in February 2016, on year-on-year basis. The main contributor towards the increase in year-on-year inflation was the Non-food category. Prices in…
Citrus Waskaduwa celebrated its second anniversary recently, and embarked on a third year of exciting activities and promotions. The luxurious resort has enjoyed high occupancies year-round and has consistently received top reviews from its guests for its ambience, service and amenities making it one of the most talked about destinations in the Southern coastal belt….
The Ceylon Chamber of Commerce will organize a Sri Lanka – Turkey Business Forum during the month of May, 2016, which will be attended by a high profile business delegation from Turkey. The forum, which is aimed at exploring trade, investment and tourism opportunities on both sides, will be followed by B2B meetings between the…
Ceylon Electricity Board (CEB) has agreed to take steps to address the shortcoming and recommendations that has been given by the Public Utilities Commission of Sri Lanka (PUCSL), the electricity regulator on Island wide power failure. The Commission earlier demanded an explanation for the Island wide power cut which took place on 27th September 2015,…
Holcim Lanka, a member of the LafargeHolcim Group, a global leader in the construction material industry, signed a memorandum of understanding (MoU) with the National Institute of Occupational Safety and Health (NIOSH). The MoU affirms that for the 2016 National Safety awards process as the “Technical Consultancy Partner”. The MoU was signed by Philippe Richart,…
Reuters – Sri Lanka will stop excess government borrowing in a bid to get out of a debt trap and it hopes for cheaper loans after a deal with the International Monetary Fund is finalised, its central bank chief said on Tuesday. Sri Lanka is facing a looming balance of payments crisis because of a…
The Share Transaction Levy will be re-imposed from every buyer and seller on the turnover of every share trading transaction, Chief Operating Officer of the Colombo Stock Exchange Renuka Wijayawardhane said in a statement today (12). “Please note that the Share Transaction Levy will be re-imposed at the rate of 0.3% from every buyer and…
A staff team from the International Monetary Fund (IMF) led by Todd Schneider visited Colombo during March 31- April 11 to hold the 2016 Article IV consultation discussions and to discuss the authorities’ request for a Fund supported arrangement. The mission made significant progress toward a staff level agreement with the government on an economic…
After a 13-year long hiatus, Sri Lanka’s state controlled wholesale giant CWE has actively re-entered the domestic FMCG market on 10 April. The Cooperative Wholesale Establishment (CWE), the 1949 born Sri Lanka’s oldest state owned corporation to be active even today after 67 years, unveiled its new Northern wholesale hub in Vavuniya on 10 April….
Hon. Ranil Wickremesinghe met and talked with Huawei Vice President Yao Weimin in Beijing. Hon. Ranil Wickremesinghe said, “ICT and digitalization is the first priority of government economic development plan. We know Huawei is a leading global ICT company, we are happy to have Huawei helping build ICT capacity in Sri Lanka, and we encourage…
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