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In Business
January 5, 2017 11:36 am gmt |
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1031
Teejay, South Asia’s leading fabric manufacturer, has taken the lead in producing green fabric for some of their key customers. The Company, which was named among the 2016 Forbes list of Asia’s Top 200 Companies under a Billion US dollars, announced their new identity last month and the s...
In Business
January 4, 2017 10:54 am gmt |
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1026
Tourist arrivals to Sri Lanka in 2016 crossed little over 2.05 million, growing at a rate of 14 year-on-year (YoY), yet below the revised government target of 2.2 million tourists, the data released by the country’s tourism office showed. This was resulted by a slower tourist arrival growth of 9.1 pe...
In Business
December 30, 2016 12:16 pm gmt |
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1026
Honda Motor Co. is recalling 633,753 Odyssey minivans in the U.S. because the second-row seats could move unexpectedly. The recall involves Odysseys from the 2011 to 2016 model years. They were made between Aug. 1, 2010, and Oct. 1, 2015. The vehicles have a second-row seat lever that moves the outer...
In Business
December 29, 2016 7:41 am gmt |
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1037
The implementation of Green Power Development and Energy Efficiency Improvement Investment Program will support the Government’s objective of enhancing clean power generation, system efficiency and reliability. The total investment cost of this program is USD 440 million of which USD 300 million will...
In Business
December 25, 2016 10:34 am gmt |
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1039
Eng. Sagara Gunawardana, Chairman of Venora Group of Companies (PVT) LTD, has been bestowed with the Socrates International Award for personal contribution to the intellectual development of today’s society in the category for ‘Business and Economy’ by the European Business Assembly (EBA). He accepte...
In Business
December 23, 2016 1:00 pm gmt |
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1033
Several steps have been taken to improve public transportation with the building of new roads, upgrading railway, deploying priority bus lanes and building light rail, Sri Lanka’s finance ministry said on Friday (Dec 23). Plans are underway to construct two new roads, one between New Kelani Bridge an...
In Business
December 19, 2016 12:43 pm gmt |
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1039
Finance Minister Ravi Karunanayake has said state revenue has increased by 23 percent during the first 9 months of this year. Accordingly, state revenue in the first nine months of 2016 rose to Rs. 1,180 billion from Rs. 959 billion earned during the same period in 2015. The Finance Minister attribut...
In Business
December 10, 2016 9:22 am gmt |
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1042
Sri Lanka’s economy which is supported by appropriate monetary and fiscal policies has begun to stabilize, the International Monetary Fund (IMF) said Friday (Dec 8). Releasing the first review under the extended arrangement under the extended fund facility, the IMF said Sri Lanka made progress ...
In Business
December 5, 2016 12:34 pm gmt |
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1061
Global Enabling Trade Report 2016, published by the World Economic Forum and the Global Alliance for Trade Facilitation has ranked Sri Lanka 103rd out of 136 counties. The Enabling Trade Index (ETI) assesses the extent to which economies have in place the factors facilitating the free flow of goods o...
In Business
December 2, 2016 10:26 am gmt |
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1056
SriLankan Airlines has becomes the first airline to extend service to Gan Island in the Maldives, by commencing services to the Island on 1st December 2016, in the Indian Ocean island nation. Thus SriLankan Airlines will become the only airline to operate international flights to Gan International Ai...
In Business
November 29, 2016 10:07 am gmt |
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1054
Sri Lanka’s budget deficit narrowed to 4.1 percent of GDP during the first nine months of the year helped by an increase in tax revenue, the Central Bank said on Tuesday (Nov 29). The budget deficit during the same period last year was 5.1 percent of GDP. Government revenue was 9.6 pct of GDP during ...
In Business
November 28, 2016 9:42 am gmt |
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1056
The Sri Lankan government has signed a loan agreement with the Asian Development Bank (ADB) to obtain a loan of US $ 250 million from the Ordinary Capital Resources Fund of ADB to implement the Capital Market Development Programme (CMDP) in Sri Lanka. The main objective of the CMDP is to ensure that ...
In Business
November 25, 2016 6:33 am gmt |
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1048
Theresa May’s attempt to reform corporate pay and governance faces more challenges from business leaders. A report by the Big Innovation Centre rejects holding annual binding votes on pay and the publishing of pay ratios between chief executives and workers. The two ideas were among the prime m...
In Business
November 23, 2016 7:51 am gmt |
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1046
Lufthansa has cancelled almost 900 flights after it lost an eleventh-hour legal bid to halt a pilots strike.The two-day strike over pay began at midnight local time, with Lufthansa saying about 100,000 passengers will be affected. Flights by Lufthansa’s other airlines including Eurowings, Swiss...
In Business
November 22, 2016 12:02 pm gmt |
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1049
Sri Lanka’s Condominium Developers Association which represents the condominium developers in the country has hailed the budget 2017 presented by the Finance Minister. The association which is an affiliated trade body of the Ceylon Chamber of Commerce said in a statement that the budget contained a n...
In Business
November 21, 2016 9:45 am gmt |
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1058
The Asian Development Bank (ADB) has released an independent evaluation report that assesses its $5.5 billion program for Sri Lanka in the 10 years to the end of 2015. The program made a substantial contribution to expanding infrastructure services in the country especially in lagging regions and for...
In Business
November 19, 2016 12:08 pm gmt |
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1047
Sri Lanka expects to finalize the deal with regard to the loss-making Hambantota port within three weeks, Ports Minister said. Minister Arjuna Ranatunga told Parliament on Friday (Nov 18) that under the new arrangement, the port will be operated as a PPP venture project between Sri Lanka and Chinese ...
In Business
November 18, 2016 11:33 am gmt |
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1049
Car manufacturer Volkswagen (VW) has announced it will cut 30,000 jobs over the next five years to make savings after the diesel emissions scandal. The car manufacturer will cut 23,000 from its workforce at the biggest VW unit in Germany with the remaining job cuts being mostly made in North and Sout...
In Business
November 16, 2016 11:45 am gmt |
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1055
Snap, the parent company of messaging app Snapchat, has filed to list on the US stock market, according to several reports. Based on investments so far, the California-based firm would be worth between $20bn and $25bn (£16bn-£20bn). That would make it the largest US flotation since Chinese e-commerce...