INSEE Cement, Sri Lanka’s leading and only 100% local cement manufacturer has issued an update and progress report of work completed towards the rehabilitation and reforestation efforts addressing the incident of illegal encroachment and forest clearing in its long-term leased land in Aruwakkalu. During early September 2020, approximately 29 acres of forest land was illegally…
Sri Lanka’s GDP is projected to decline by 6.7% this year, with the COVID- 19 crisis affecting all key drivers of demand: exports private consumption, and investment, the World Bank said in its latest report titled ‘South Asia Economic Focus’ “The COVID-19 crisis has substantially clouded the outlook and exacerbated an already challenging macroeconomic situation….
Laugfs Power PLC a fully owned subsidiary of Laugfs Gas PLC announced that it has entered into a joint venture with the Government for a 10MW solar power project with a battery storage system. “We have entered into a joint venture with the Government for a 10MW solar power project with a battery storage system…
A team of senior representatives from the MarCom Collective and Ernst & Young Sri Lanka met with Ajith Nivard Cabraal, State Minister for Money and Capital Market and State Enterprise Reforms, recently. This meeting was the latest in the Collective’s ongoing engagements with stakeholders in the government and the industry to apprise them of the…
Sri Lankan apparel manufacturer Brandix issuing another official statement today (07) affirms that no foreign party –Indian or otherwise– had access to their Minuwagoda facility. It further says that their Minuwangoda facility does not use any fabric from India nor has it taken in any orders from their facility in India. The full statement issued by…
Due to the prevailing Coronavirus ( COVID-19) pandemic situation in the country, the Inland Revenue Department (IRD) will be closed for the general public from 07 October 2020 until further notice, Commissioner General of Inland Revenue, Nadun Guruge stated. Issuing a statement, Guruge further noted that all required services for the general public could be…
Sri Lanka Tourism Development Authority (SLTDA) and Australia’s Market Development Facility (MDF) have joined hands to develop a research roadmap to facilitate Sri Lanka’s position as Asia’s foremost tourism destination. The roadmap will pave the way for better understanding of the visitors who come to Sri Lanka and assist the public and private sectors in…
Sri Lanka is making a compensation claim of Rs.1.6 billion from those responsible for importing 263 containers of hazardous waste from the United Kingdom, the Ministry of Environment stated. Issuing a statement the Ministry stated that the claim is being made through the Basel Convention on the Control of Transboundary Movements of Hazardous Wastes and…
Minister of Trade, Dr. Bandula Gunawardena visited the LAUGFS Corporation (Rubber) Plant in Horana yesterday (6). The minister was welcomed by the Group Chairman of LAUGFS Holdings Limited, W. K. H. Wegapitiya, Group Deputy Chairman, Thilak De Silva and Group Managing Director/GCEO, Piyadasa Kudabalage. Sri Lanka has been able to become a significant player among…
One of the largest foreign investments into Sri Lanka since the start of the COVID-19 pandemic First post-pandemic equity placement by the IFC First private placement by Commercial Bank The Commercial Bank of Ceylon has announced the completion of all formalities relating to the private placement of shares with the International Finance Corporation (IFC) and…
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