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CIC’s Rs. 2 billion Agri-Investment to boost Sri Lanka’s economy

Meanwhile the Group is rationalizing some of its legacy operations Sri Lanka’s long-standing leader in agriculture – the CIC Group – has elevated the country’s agriculture sector via futuristic investments amounting to over Rs. 2 billion, which are now infusing state-of-the-art technology into the industry, thereby making an enduring impact on the livelihoods of farmers….

(0)Comments | September 11, 2017 2:02 pm

Income surplus by 2020 – PM

The country will enjoy a surplus in income by 2020, said Prime Minister Ranil Wickremesinghe. Prime Minister made these remarks attending a function to provide compensation to flood affected tea smallholders of Galle District. In 2014, the government deficit between income and expenditure was 1.5 percent of Gross Domestic Product while it reduced to 0.2…

(0)Comments | September 11, 2017 1:58 pm

Tea Board Chairman to deliver keynote address at 163rd AGM of the Planters’ Association

The 163rd Annual General Meeting (AGM) of the Planters’ Association of Ceylon, one of the plantation sector’s most important gatherings, is scheduled to take place at the Grand Ballroom of the Galadari Hotel on 22 of September 2017.   Drawing together some of the most respected names in the plantation industry, this year’s AGM follows…

(0)Comments | September 11, 2017 11:00 am

China to invest in aquaculture sector

Chinese investors are willing to invest in aquaculture on a large scale, State Minister of Fisheries and Aquatic Resources Development Dilip Wedaarachchi said. He said that they are willing to invest knowledge, technical knowhow as well as money.   The State Minister had a meeting with a group of Chinese investors Friday (8th Sept.) at…

(0)Comments | September 10, 2017 7:44 pm

Sri Lankan shares end higher on foreign buying; tax bill weighs

Reuters – Sri Lankan shares posted their second straight session of gains on Friday, further moving away from the lowest close in more than four months hit this week, as foreign investors picked up beaten down shares. The Sri Lanka parliament on Thursday passed tax reforms that should simplify the tax system, widen the tax…

(0)Comments | September 8, 2017 6:27 pm

Petronet joint venture puts Sri Lanka on course to import LNG

Indian energy giant Petronet LNG is forming a joint venture with partners from Japan and Sri Lanka to build a shore-based LNG-import terminal near Colombo. Petronet’s announcement ends months of speculation. It comes after Indian prime minister Narendra Modi signed a memorandum of understanding with Sri Lanka when he visited Colombo in May. The company…

(0)Comments | September 8, 2017 6:13 pm

Ceylon Chamber to hold seminar on the new ‘Inland Revenue Act’, Hon. Eran Wickramaratne to speak

The Ceylon Chamber of Commerce will hold a seminar on the newly passed ‘Inland Revenue Act’ on the 11th September, 2017, which will be addressed by the State Minister of Finance, Honorable Eran Wickramaratne. The State Minister of Finance, who will be the keynote speaker is expected to explain to the audience, the rationale for…

(0)Comments | September 8, 2017 4:11 pm

Sri Lankan rupee ends weaker on importer dollar demand

Reuters – The Sri Lankan rupee ended marginally weaker on Friday as importer dollar demand outpaced selling of the U.S. currency by exporters and banks, dealers said. The spot rupee ended at 152.80/85 per dollar, compared with Thursday’s close of 152.70/80. “There was importer dollar demand today and not much exporters in the market,” said…

(0)Comments | September 8, 2017 2:26 pm

Sri Lanka – Pakistan urged to strengthen trade and investment with a delegation from the Lahore Chamber of Commerce & Industries

Sri Lanka Pakistan Business Council of the Ceylon Chamber of Commerce hosted recently a delegation from the Lahore Chamber of Commerce and Industry (LCCI). LCCI is the oldest and largest trade body in Pakistan with strong credentials having a large membership base standing around 20 thousand members.  LCCI’s history dates back to the early part…

(0)Comments | September 8, 2017 12:00 pm

ABAF 2017 to feature top speakers from 10 countries

Singularity University’s Dr. Clarence Tan, and other prominent industry leaders, headlining Next month’s Asian Business Angel Forum (ABAF) 2017 will feature prominent international speakers from Silicon Valley (USA), Australia, UK, Hong Kong, China, Korea, Israel, India, Malaysia, Singapore, Pakistan and Bangladesh. Sri Lanka won the chance to host this prestigious event for the first time,…

(0)Comments | September 8, 2017 11:12 am