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Expert Committee announcement that groundwater in Jaffna does not contain dangerous pollutants a great relief to public, says MDT Walkers PLC

* Optimistic that further investigations will vindicate baseless accusations The announcement that regional groundwater in and around Chunnakam, Jaffna, does not consist dangerous pollutants was a great relief to the public and is a major step in the positive direction, opined MTD Walkers PLC – the parent company of Northern Power Plant of Chunnakam, which…

(0)Comments | March 22, 2015 8:11 pm

Stock Market Review – 20th Mar 2015

Colombo bourse finished the week on a mixed note in another trading session marked by thin trade as investors opted to stay on sidelines amid the developments in the political and economic fronts. The main index remained in the negative territory for most of the trading session but managed to close 7.88 points (+0.1%) higher…

(0)Comments | March 20, 2015 7:00 pm

Sri Lanka's plantations in crisis; Estates suffer massive losses in 2014, says Association

While showing grave concerns on the loss of Rs. 35 on rubber and Rs. 30 on tea per kg sold last year, the Planters’ Association of Ceylon elaborates on the present issues in the plantation sector, particularly with regard to the decline in the price of tea and rubber despite high production costs. In a…

(0)Comments | March 20, 2015 3:52 pm

Will Chinese investors quit if the port city comes to a standstill ?

The temporary suspension of the Port City project in Colombo has put lot of Chinese investors in uncertainty regarding the Sri Lankan investment policy. The Sri Lankan media delegation currently visiting China was faced with a series of questions from Chinese investment giants such as China Harbour Engineering Company (CHEC), which is constructing Sri Lanka’s…

(0)Comments | March 20, 2015 1:52 pm

Sri Lanka launches third ICT survey with PwC

As ICT exports are projected to top $1Bn this year, Sri Lanka has launched the latest ICT Value Survey to find the national hi-tech exports it achieved in 2013/14-and all the ICT exporters are encouraged to actively take part in it. “We have recognized the ICT industry to be a key player in our exports….

(0)Comments | March 20, 2015 10:31 am

Sri Lanka’s government cancels USD 85 million BIA runway extension contract to Access Engineering

A decision has been taken to cancel the USD 85 million contract to Access Engineering Limited for the extension of the Katunayake International Airport runway, said Cabinet spokesman Health & Indigenous Medicine Minister Dr. Rajitha Senaratne. Minister Senaratne said during the media briefing to announce Cabinet decisions that Access Engineering did not have the required…

(0)Comments | March 19, 2015 7:36 pm

Sri Lanka’s government preparing to bring back 2 billion US dollars stashed in Dubai bank

It has been revealed that there are three accounts at the Dubai National Bank with over USD 02 billion worth of assets belonging to Sri Lankans and the government has handed over the task of getting them back to Sri Lanka to the relevant US and Indian authorities, said Cabinet spokesman and Health & Indigenous…

(0)Comments | March 19, 2015 7:19 pm

Will Chinese company get to build safety wall for Colombo Port City project?

The Chinese company engaged in reclaiming land from the sea for the Colombo Port City project has reportedly requested permission to construct a protective bund surrounding the already reclaimed land. This request is under discussion right now, said Deputy Minister for Policy Planning Dr. Harsha de Silva. The Colombo Port City project is a 100%…

(0)Comments | March 19, 2015 1:30 pm

Brussels taskforce in Colombo next week for GSP+ redux

As bilateral trade with EU crossed the $5Bn mark for the first time and after months of speculation and vibes on the coveted GSP Plus, EU announced on 18 March the actual start of the recovery process will commence right here in Colombo as early as next week-and setting the record straight on the GSP+,…

(0)Comments | March 19, 2015 1:29 pm

Media warmly welcome EU countries joining China-led Asian Infrastructure Investment Bank

The media warmly welcome France, Germany and Italy’s decision to join a China-led bank, while lashing out at the US for “obstructing” others’ participation. The three European countries have agreed to join the UK in becoming members of the Asian Infrastructure Investment Bank (AIIB), the Xinhua News Agency reports. The move comes after the US…

(0)Comments | March 19, 2015 1:49 am