Top News

Ceylon Chamber conducts a study on ‘Global and Local apparel sector

The Ceylon Chamber of Commerce has conducted a statistical analysis on the Global Apparel sector along with a look at Sri Lanka’s Apparel sector’s performance. The study titled ‘Apparel Sector Statistical Analysis 2014,’ compiled by the Chambers Business Information Division, has covered a number of topics of importance. The analysis covers area such as, ‘Industry…

(0)Comments | June 29, 2015 4:01 pm

World Bank supports increased access to safe drinking water and improved sanitation in Sri Lanka

The World Bank Board has approved a $165 million credit for Sri Lanka to increase access to piped water services and improved sanitation in the Mullaithivu, Kilinochchi, Nuwara Eliya, Badulla, Monoregala, Kegalle and Ratnapura Districts. Around 450,000 people are expected to benefit under the project from improved access to safe piped water, contributing to the…

(0)Comments | June 29, 2015 2:37 pm

Greece imposes capital controls as crisis deepens

Greece closed its banks and imposed capital controls on Sunday to check the growing strains on its crippled financial system, bringing the prospect of being forced out of the euro into plain sight. After bailout talks between the leftwing government and foreign lenders broke down at the weekend, the European Central Bank froze vital funding…

(0)Comments | June 29, 2015 2:17 pm

Sirisena Calls Early Sri Lanka Election as Reform Hopes Dwindle

Sri Lankan President Maithripala Sirisena dissolved parliament and called early elections for Aug. 17 after failing to push through changes to the country’s voting system he promised after taking power six months ago. The decision was announced in a so-called gazette on the government website late Friday. It came before lawmakers voted on a constitutional…

(0)Comments | June 29, 2015 11:33 am

Central Bank’s policy interest rates in face of an election

The Central Bank of Sri Lanka (CBSL) has decided to maintain its policy interest rates which determine the interest rates of commercial banks, unchanged at 6.00 per cent to 7.50 per cent during June as well. Meanwhile, the CBSL’s Monetary Board has decided to further maintain the bank’s statutory reserve ratio at 6.00 percent. Though…

(0)Comments | June 29, 2015 10:07 am

Designated envoys to Philippines and Vietnam visit Chamber – meet its member companies

The Ceylon Chamber of Commerce recently, facilitated a meeting between Sri Lanka’s designated envoys to Vietnam and Philippines, respectively Mrs. Hasanthi Dissanayake and Mrs. Aruni Ranaraja and some local companies, who are doing business with the respective countries to discuss matters relating to trade and commercial ties between Sri Lankan and those two countries. During…

(0)Comments | June 28, 2015 9:33 pm

Venture Engine 2015 announces Top 3 Start-Ups at Finale

* All 11 Finalists move forward to explore opportunities with an International Panel of Investors The Venture Engine entrepreneurship development program drew to a close at The OZO, Colombo on 23 June, marking a successful four-year run. The 11 finalists behind the top ranked projects made their final presentations to a panel of internationally renowned…

(0)Comments | June 27, 2015 4:15 pm

The Steuart by Citrus – boutique business hotel begins serving guests

The Steuart by Citrus, the latest addition to Colombo City’s tourism offering was declared open yesterday (26 June) by Tourism & Sports Minister Naveen Dissanayake amongahosts of distinguished guests. Located at the very heart of Colombo, The Steuart will operate as a boutique business hotel offering the convenience of its prime location coupled with true…

(0)Comments | June 27, 2015 3:29 pm

SAARC Energy Independence by 2030 to create livable Planet Earth – Dr. Abdul Kalam

Former President of India Dr. Abdul Kalam delivering the inaugural speech at the International Energy Symposium organized by the Ministry of Power and Energy in Colombo (26) emphasized the need of member countries in the SAARC region coming together to achieve ‘energy independence’ by 2030. “All countries in the region have similar culture and environment….

(0)Comments | June 27, 2015 3:08 pm

Sri Lanka’s Mahendran Seeks Overseas Loans to Reduce Debt Costs

Sri Lankan central bank Governor Arjuna Mahendran is seeking concessional overseas loans to refinance costlier debt and reduce reliance on global bond markets. “We are looking at tens of billions of dollars” from lenders including the U.S., Japan and the European Union, Mahendran said in a telephone interview from Colombo. Concessional credit will “eventually refinance…

(0)Comments | June 27, 2015 3:07 pm