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In Business
March 18, 2017 7:38 am gmt |
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1024
LOLC Group has acquired 48 percent stake in a micro finance company in Cambodia for 186 million US dollars through LOLC International Private Limited, a fully owned subsidiary of the LOLC Group based in Singapore. Before this acquisition, the LOLC Group had 22 percent stake in this microfinance insti...
In Business
March 14, 2017 12:12 pm gmt |
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1030
Germany’s TUI Group, a leading tour operator, said it would be expanding operations in Sri Lanka to assist in developing hospitality training facilities. TUI revealed these plans during a discussion between Minister of Tourism Development, Lands and Christian Religious Affairs John Amaratunga and top...
In Business
March 8, 2017 9:03 am gmt |
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1031
World’s fastest car is being constructed in the island said Science, Technology and research minister Susil Premajayantha. Technology should be used to the maximum in order to develop the country he said in Galagedara area....
In Business
February 23, 2017 10:26 am gmt |
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1041
Barclays has reported a jump in annual profits after making “strong progress” in restructuring. The bank reported a profit before tax of £3.2bn for 2016, up from £1.1bn the year before. Its reorganization has included the sale of its Africa business. Barclays has also been selling off oth...
In Business
February 22, 2017 9:53 am gmt |
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1045
Aircraft manufacturer Airbus reported a drop in 2016 profits, mainly because of a charge on the A400M military plane. Its net income fell by 63% to 995m euros (£838m), although revenue went up 3% to 66.5bn euros (£56bn). The results are the first since Airbus started simplifying the company by mixing...
In Business
February 13, 2017 12:45 pm gmt |
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1056
The Sri Lankan government is inviting expressions of interest for partners to undertake the appraisal and development of gas discoveries and prospects in a 2,900-sq km offshore block in the Mannar Basin, a statement said. The block (M2) will be offered for licensing this year, including the Barracuda...
In Business
February 3, 2017 10:56 am gmt |
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1066
The Economic research Department of Central Bank states that Sri Lanka’s external sector has recorded a modest performance in October 2016 with a deterioration in the trade deficit amidst continued growth in tourist earnings. The trade deficit has widened in October as a result of higher import expen...
In Business
January 21, 2017 12:02 pm gmt |
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1075
The Sri Lankan government said it had identified a Unites States-based company to share in the SriLankan airlines equity under the proposed Private Public Partnership (PPP) model, Public Enterprise Development Deputy Minister Eran Wickramaratne said that the government had short-listed three prospect...
In Business
January 19, 2017 10:18 am gmt |
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1066
The Sri Lankan Rupee traded weaker yesterday due to importer dollar demand, after sales by foreign banks had helped the U.S. currency to edge up in the previous two sessions. The rupee has been under pressure due to rising imports and selling of government securities by foreign investors. Furthermore...
In Business
January 5, 2017 11:36 am gmt |
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1086
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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1064
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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1057
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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1063
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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1080
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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1072
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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1085
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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1072
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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1103
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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1100
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...