Search
Monday 24 April 2017
  • :
  • :

Category: Business

Farmers who cultivated Ginger in Jaffna, disappointed by the drop in expected price

ginger

Those who have invested in Ginger cultivation had been subjected to great disappointment and financial losses it is reported. The farmers engaged in Ginger cultivation in the hope of reaping a high...

Formula for lower fuel prices soon

petrol-500x360

Global oil prices continue to tumble with current levels the lowest in over a decade. But Sri Lankans may have to wait longer to benefit. Ceylon Petroleum Corporation Chairman, T. G. Jayasinghe rules...

Decline in production of fish in seas off Jaffna Peninsula

jaffna fish

The total fish production which was at 48,677 MT  before 36 years had fallen to only 31,767 MT now, the District statistics had revealed. During 1983, when war situation was prevailing, 48,677 MT of...

Luxury passenger vessel calls at Hambantota Port

Europa

The 400-passenger capacity luxury passenger vessel M/S/Europa bound for Ko Phi islands in Thailand called at the Port of Hambantota yesterday.  The current voyages of the vessel include a 154 days...

Sri Lanka Banking sector launch massive strike against maiden budget

1

Thousands of Sri Lanka banking sector employees  held a protest in the capital on Tuesday against the government’s maiden budget for 2016. More than 10,000 bank employees from state and private...

Commercial Bank honours 88 staff for 25 years of service

MB-_6-2(29)

Commercial Bank of Ceylon recently felicitated 88 employees who have completed 25 years of service at the 2015 edition of the bank’s annual Long Service Awards gala at Cinnamon Grand, Colombo....

Uber takes to the roads in free-wheeling Sri Lanka

taxiappcompa

Taxi app company Uber launched Wednesday in Sri Lanka, a country dominated by three-wheeler auto rickshaws, as part of the US start-up’s growing push into Asia. Uber said it hopes to snatch a...

India Sourcing Fair 2015 declared open

SLECC-2015-01

The India Sourcing Fair 2015 was declared open yesterday at SLECC. Minister of International Trade Samarawickrema, Indian High Commissioner to Sri Lanka Y.K.Sinha and India Trade Promotion...

TEA PRODUCTION HITS 3 YEAR LOW

bigstock-Green-tea-bud-and-fresh-leaves-26339027-640x493

Heavy rains and poor prices have reduced Sri Lanka’s tea output this year to a three-year low, especially of low grown teas cultivated mainly by small farmers who grow the bulk of the crop. Tea...

Fashion Bug awarded best dealer for Emerald

1(717)

Fashion Bug, one of Sri Lanka’s leading retail clothing chain with over 16 outlets island-wide, won the prestigious award for being the ‘best dealer’ in the ‘Diamond’ category at the...

Sri Lanka’s Inflation for October rises to 3.0%

inflation

Sri Lanka’s inflation in October 2015 determined under a new National Consumer Price Index (NCPI) rose to 3.0 %, the Department of Census and Statistics said on Monday. The inflation, as...

Mihin Lanka conducts presentation to update agents on its latest product developments

1(707)

Mihin Lanka recently conducted a comprehensive presentation for its agents to highlight the airline’s updated product and service offerings. The presentation was well attended by 102 agents who...

Hero Cycles set to acquire Sri Lanka-based company

Hero

On a spree to expand its base and boost the ever-increasing demand for high-end bicycles, world’s largest bicycle manufacturer Hero Cycles is set to acquire a Sri Lankan bicycle manufacturing...

Ravi meets Marks & Spencer CEO

Ravi(6)

Finance Minister Ravi Karunanayake, during his recent visit to London, held talks with the British multinational retailer Marks & Spencer Company Chief Executive Officer Marc Bolland, a statement...

Sri Lanka seeks investment from Bangladeshi firms

srilanka_investment

The Sri Lankan government has invited Bangladeshi companies to invest in their country to boost ties between the two Saarc nations. The two countries have identified several areas of cooperation,...

Amãna Bank bottom-line grows by 171.8% at Q3 end

amana-bank-colombo

Reaches profit of LKR 121.2 million against last year’s loss of LKR 168.7 million  Amãna Bank, Sri Lanka’s premier non-interest based banking institution, continued its upward profitability...

HSBC’s profit boosted by cost-cutting and fewer fines

_86441724_hsbc_new

Pre-tax profit at Europe’s biggest lender jumped 32% from a year ago in the third quarter, beating analysts’ expectations. Its profit was $6.1bn (£3.9bn), up from $4.6bn in the same...

Sri Lanka’s tax system is ‘pathetic’ and ‘regressive’: slams CB Governor Arjuna Mahendran

Arjuna-Mahendran

Sri Lanka’s Central Bank Governor Arjuna Mahendran on Thursday slammed Sri Lanka’s tax system as ‘pathetic’ and ‘regressive’ and said government revenue is still only 10% of GDP despite...

CB Chief slams tax system

481521994

Tough-talking Central Bank Governor Arjuna Mahendran yesterday slammed Sri Lanka’s tax system as “pathetic” and “regressive,” insisting it needed to be boosted through fresh measures and...

Tourism sector of the North to be developed

vara

Action had been taken to develop the Tourism sector in identified areas under the Local Government bodies of the North. This will be undertaken through the UNDP, and initially areas in Jaffna,...

China-Sri Lanka Cooperation Studies Center inaugurated

MB-_3-3(18)

A long felt need to promote and nurture Sino-Lanka relations was realized recently with the inauguration of China-Sri Lanka Cooperation Studies Centre (CSLCSC) at the headquarters of the Pathfinder...

China to boost cultural ties with Sri Lanka: ambassador

Yi-Xianliang-Ambassador-of-PR-China

China attaches great importance to Sri Lanka’s economic and social development needs, Chinese Ambassador to Sri Lanka Yi Xianliang said on Friday. Addressing the inauguration ceremony of the...

Union Bank 3Q net up 51% over higher loans and lower impairments

z_pvii-Union-Bank

Union Bank of Colombo PLC (UBC) group increased its net profit by 51 percent year-on-year (YoY) to Rs.76.7 million for the quarter ended September 30, 2015 on the back of a 15 percent growth in its...

Janashakthi Shareholders Approve Rights Issue to Fund Acquisition of AIA General

jana

In a bid to further bolster its position in the market, Janashakthi Insurance PLC., signed a share purchase agreement with AIA Insurance Lanka PLC., to acquire 100% of the shares of AIA General...

Chaliking out Batti Agricultural Development

cccc

A meeting was held recently to chalk out a program to promote agriculture in the Batticaloa district. The meeting was held under the patronage of Government Agent Mrs. Charles. Eastern Province...

Annual real estate conference to get underway

IMG_3773

The second annual real estate conference will take place on October 21, 2015, from 3pm – 8pm, at the Bandaranaike Memorial International Conference Hall, according to a statement released by...

More Facilities to Mushroom growers

69708ARCH0472

The Agricultural Department said that, more facilities will be given mushroom producers and that, the mushroom producers who had not registered themselves with the department register themselves....

Laugfs acquires second LPG ship for US $ 6mn

MB-_1-1(6)

Laugfs Maritime Services (Pvt) Limited, the fully owned logistic arm of Laugfs Gas PLC, recently announced the acquisition of their second LPG ship to provide logistic support for the growing LPG...

Wigneswarn opens Grinding Factory in Mannar

mannar_mill_001

Chief Minister of the Northern Province Wigneswaran declared open a grinding factory in Panamkatty Kottu East in Mannar yesterday. The beneficiary will be Women Development Society. Provincial...

Yala cultivation did not yield expected profits, says Kilinochchi farmers

paddy fields kilinochchi

Kilinochchi farmers said that they were unable to get expected profits in the Yala Cultivation. Excessively hot climate, diseases that afflicted the paddy plants and the heavy rains experienced...

Herbal gardens to be established in several areas in North

wigneswaran

Herbal gardens similar to the one created at Kalmadhu Town should be established at several areas in the Province, said the CM,NPC, C.V.Wigneswaran, after opening a Sidtha Ayurvedic exhibition at...

Seed paddy gifted to 128 farmers in Mullaitheewu

seeds

128 famers in Mullaitheewu were gifted seed paddy at an event held at Oddysuttan Agriculture Training Centre.   The seed paddy were distributed under the patronage of the Northern Provincial...

Maize cultivation in Jaffna, Successful

61478449

The Agricultural Research centre of the Jaffna District that the experimental cultivation of drought –surviving Maize cultivation had been successful. The International Maize Research Institute had...

Why desalinization is inappropriate for Sri Lanka?

Desalination

Eng. M. Sooriyasegaram We have plenty of water in Sri Lanka. In fact we have more water in Sri Lanka than we need for drinking, domestic uses, industrial uses and for agriculture. We have sufficient...

Bumper harvest of green gram in Mannar

green-gram-mannar-860-01

A bumper harvest of green gram is reported from Mannar. Northern Provicne Agriculture Minister Aynkaranesan participated in a special event held in Nanatan in Mannar. The yield is estimated as 400...

Kilinocchchi Sugar-cane farmers trained in production of Jaggery and syrup by Udawalawe Sugar Cane Research Centre

su

10 members of the sugar cane cultivators Society from the areas of Anaivilunthan and Vannery were given a one week’s training in the production of  jaggery and syrup, by the Sugar Cane Research...

149 of the 158 from the majority race Agricultural Assistants transferred out of North

ggg

149 of 158 Sinhalese Agricultural Assistants were transferred out of North and action will be taken to appoint local people, said  the Minister of Agriculture, NPC, Ainkaranesan. This situation had...

Regulating Petroleum

ceypetco

The new Ceylon Petroleum Corporation (CPC) Act which is expected to bring in far-reaching changes, is in the limbo with intensifying political hurdles and the Government might not be able to enact...

Ceylinco Life begins search for 160 more young achievers for Pranama schols

Pranama-2016-applications-595x240

As the search begins for candidates for the next batch of ‘Pranama’ scholarships presented annually by Ceylinco Life, Sri Lanka’s life insurance leader has announced an increase in the value of...

Cinnamon hotels & Colombo university launched leisure management

z_pii-Cinnamon,-Colombo_0

Cinnamon Hotels & Resorts together with the John Keells Foundation announced their partnership with the Management and Finance Faculty, University of Colombo (UOC) for the successful...

Potatoes and onions to increase the import tax

ONION

Accordingly, the tax on imported potato a Kila rupavilintu 40 to 25 rupees and 35 rupees from 30 rupees to the largest onion increased. While the start of the harvests of potatoes and big onions,...

Google unveils surprise restructuring under Alphabet

eight_col_000_Par7784904

Under the rebranding, Google will retain its best-known businesses, such as search, apps, YouTube and Android.Some of the newer entities, such as the investment and research divisions, the...

Ranil promises to develop Oluvil harbor as fisheries harbor

2126638755Ranil5

United National Party Leader Ranil Wickremasinghe has promised to develop the Oluvil harbor as fisheries harbor. He stated that the new government would develop Oluvil harbor as a major fisheries...

Over 90% Sinhalese appointed to North as Agricultural Research Production Assistants: Ainkaranesan expresses dissatisfaction

Jaffna_Hindu_Ayngaranesan_Ponnudurai

The NPC Minister of Agriculture Ainkaranesan, expressed his dissatisfaction over the Agricultural Research Production Assistance to appointed recently by the Government to the North. He said that out...

Signing CEPA, an unwise move – COYLE

Untitled-116

Certain Sri Lankan officials who engaged in discussions with India regarding the Comprehensive Economic Partnership Agreement (CEPA), are openly supporting Indian views, while turning a blind eye to...

Sri Lanka’s economic summit 2015 Updates

9460f5f35fa60362143f713999b97f6b_M

The following are highlights of Prime Minister Ranil Wickremesinghe’s presentation at the 2-day annual Sri Lanka Economic Summit organised by the Ceylon Chamber of Commerce which opened in Colombo...

ComBank, Euromoney’s Best Bank in SL

com-bank

Euromoney, widely considered as one of the world’s leading financial magazines, has adjudged Commercial Bank of Ceylon PLC as the Best Bank in Sri Lanka in 2015 at the magazine’s Asia...

Road and rail link between Rameswaram and Thalaimannar soon

Thalaimannar

A road and rail link between India’s Rameswaram and Sri Lanka’s Thalaimannar could be a reality soon as the government of India has asked Asian Development Bank to carry out...

Fuel supply at Lanka IOC’s Trincomalee unit records a high of 260 mln litres

ioc01-lankatruth

Lanka IOC, a unit of Indian Oil Corporation, is successfully maintaining 16 oil tanks at the Trincomalee tank farm increasing its supply of fuel from 160 million litres during the 2009/2010 financial...

Footwear manufacturing Cooperative for the first time in Jaffna

7

A cooperative Society to produce footwear from rubber was inaugurated yesterday in Jaffna. UNDP had provided  3.45 million rupees for the inauguration of this cooperative. Earlier, the Anthran...