Tokyo Cement Company (Lanka) PLC is expected to sign a Supplementary Agreement with Board of Investment of Sri Lanka (BOI) for the expansion to enhance the production to produce Ordinary Portland Cement and Hydraulic Cement by one million metric ton per year at the existing location at Cod Bay, China Bay, Trincomalee. In a Stock…
By Imran Furkan FCPA, FCMA, MBA – CEO Tresync, Former CEO SLASSCOM The potential for exponential growth The National Export Strategy of Sri Lanka aims to generate USD 5.0 billion of revenue creating 200,000 direct jobs and establish 1000 IT/BPM startups via the IT/BPM industry. This budget clearly codified this message through incentivizing the IT/BPM…
Rahul Sood, a highly successful Seattle based tech entrepreneur and founder of Microsoft Ventures, has joined the ownership group of Jaffna Stallions franchise cricket team in the Lanka Premier League (LPL). Mr. Sood will play a key role to support Jaffna Stallions’ brand development and growth worldwide. “We are delighted to welcome Rahul Sood, creator…
The Sri Lanka Automotive Component Manufacturers’ Association has welcomed the 2021 Budget describing it as a ‘new era for local automotive component manufacturers’. In appreciation of the government’s efforts to encourage entrepreneurs in the automobile industry engaged in vehicle assembly using locally manufactured brand-new auto components, Dimantha Jayawardena, President of the Sri Lanka Automotive Component…
Revenue from Excise duty increased significantly by 11.6% to Rs. 105.6 billion in the first three months of 2020, compared to Rs. 94.6 billion recorded in the same period of 2019 with the increased revenue from all categories applicable to excise duty other than motor vehicles, Fiscal Management Report 2020–21 outlined. However, reflecting the impacts…
Bloomberg – The University of Oxford confirmed that the Covid-19 vaccine it’s developing with AstraZeneca Plc produced strong immune responses in older adults in an early study, with pivotal findings from the final phase of trials expected in the coming weeks. The results, published Thursday in The Lancet medical journal, shed more light on preliminary data released in recent…
The Delegation of the European Union (EU) has raised concerns over the import restrictions imposed by the Government of Sri Lanka. Issuing a statement together with the Embassies of France, Germany, Italy, Netherlands and Romania, the EU stated that; the current import restrictions are having a negative impact on Sri Lankan and European businesses, and on Foreign…
The Ceylon Chamber of Commerce welcomes the proposals put forward by the Honorable Prime Minister in the National Budget 2021 which are business friendly, production oriented and demonstrative of policy continuity. The Budget has focused on boosting economic growth by enhancing exports, providing investment relief for key thrust sectors supplemented by public investment proposals, promoting…
Tea auctions this week saw fair general demand at slightly easier rates and a total of 5.5 M/Kgs were on offer, Forbes and Walker said in its latest report. “Ex-Estate offerings totalled 0.65 M/Kgs, marginally lower to the 0.73 M/Kgs on offer in the previous week. BOP’s met with good demand, whilst the BOPF’s in the…
The Colombo Stock Exchange (CSE) welcomes the progressive capital market related proposals presented to Parliament by Prime Minister Mahinda Rajapaksa in the 2021 Budget Proposals speech made on 17th November 2020. Long-term sustainable measures have been proposed by the Sri Lankan Government to encourage companies to list on the CSE, encourage savings and investments among…
Video Story
