Sri Lanka’s foreign direct investment (FDI) is set to boost this year with India’s Mahindra Group, and Ideal Motors Colombo opening their vehicle assembly plant in Horana in July, Minister of Development Strategies and International Trade Malik Samarawickrama had recently told reporters. Minister Samarawickrama had made these comments at the launch of the first…
Reuters – The Sri Lankan rupee ended stronger on Wednesday on banks’ dollar sales from inward remittances ahead of the traditional new year celebrations, market sources said. ** The currency ended 0.6 percent firmer at 176.20/40 to the dollar, up from Tuesday’s close of 177.40/60. ** The rupee has climbed 1 percent so far this…
After becoming the first company in the world to secure Uncompensated Carbon Neutral certification for its tea growing, manufacturing and marketing processes, Bogawantalawa Tea Estates PLC (BTE) is now setting its sights on even loftier environmental goals. For the producer of some of the country’s finest tea, this means a rapid migration towards official Climate…
SriLankan Airlines, one of the first carriers to fly to Tokyo’s Narita International Airport, is celebrating 35 years of flying to Narita by increasing its number of frequencies up to five per week, with Sri Lanka growing rapidly in popularity as a destination for Japanese travelers. SriLankan is the only airline to operate non-stop…
South Asia Gateway Terminals Ltd., the first public private partnership stevedoring container terminal in Sri Lanka, strengthened its operating infrastructure capabilities with the addition of six state-of-the-art Rubber Tyred Gantry (RTG) Cranes recently with an investment of USD 9 Million (Rs. 1.6 billion). The addition of the new yard handling equipment will boost the terminal’s…
~ Sri Lanka’s only sustainable oceanic fish farm receives prestigious designation Sustainable oceanic fish farm Oceanpick (Pvt) Ltd., has been awarded the Best Aquaculture Practices (BAP) certification, making Sri Lanka a pioneer in South Asia -and only the 34th country in the world- with a BAP-certified facility. Oceanpick is South Asia’s first ever commercial-scale offshore…
Government of Pakistan is considering to establish a world-class high-tech university in Sri Lanka under the patronage of COMSATS and the modalities are being discussed with concerned authorities, Pakistan’s High Commissioner to Sri Lanka Maj. Gen. (R) Dr. Shahid Ahmad Hashmat had told reporters at a function held in Colombo. Reports said that the…
NUWARA ELIYA, Sri Lanka (Thomson Reuters Foundation) – Plantations in Sri Lanka that supply tea stamped slavery-free to top global companies are under investigation by ethical label groups after an expose found illegal wage deductions that have left some workers ill and unable to afford healthcare. An investigation by the Thomson Reuters Foundation found some…
Reuters – Sri Lankan shares closed at their lowest in more than six years on Tuesday, ending weaker for a seventh straight session, dragged down by telecommunication and banking stocks. ** The market awaits for some positive news from the third and final vote on the 2019 budget scheduled for April 5, market sources said….
Against the backdrop of the 7th March 2019 CSE event “RING THE BELL FOR GENDER EQUALITY” to commemorate International Women’s Day (on 8th March), Ranel Wijesinha, Chairman of the Securities and Exchange Commission of Sri Lanka (SEC), shared the following, on the role that the SEC Sri Lanka has played and will play, to encourage…
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