Consumer prices ease in January

Sri Lanka’s consumer prices in January rose 0.9 percent from a year earlier, slowing from the previous month’s 2.8 percent, data from the Department of Census and Statistics showed yesterday.

Sri Lanka’s largest granary to be opened in Buttala

Sri Lanka’s largest granary with state-of-the-art facilities constructed in Buttala, Moneragala, is to be declared open on the 31st of this month, a Finance Ministry statement said. The opening ceremony of the granary

ADB to increase financial assistance

?Sri Lanka is slated to get US $ 1 billion from the Asian Development Bank (ADB) as financial assistance in 2017, a Finance Ministry press statement said. 

Blood ivory

?Buddhist monks look at African elephant tusks (blood ivory) seized by Sri Lanka Customs to be destroyed, before they held prayers for the dead elephants, at Galle Face Green in Colombo yesterday (REUTERS PHOTO)

Ravi K requests DIFC help setting up Colombo Int’l Finance Centre

?Finance Minister Ravi Karunanayake recently held a special discussion with Dubai International Finance Centre (DIFC) Governor Essa Kazim to bolster financial relations between the two nations.  

Hirdaramani opens Rs.450mn apparel factory in Mullaitivu

?One of the country’s leading apparel manufacturers, the Hirdaramani group, ceremoniously opened its latest Rs.450 million factory in Mullaitivu yesterday. 

Ravi meets top envoys in Davos

Finance Minister Ravi Karunanayake who attended the ‘World Economic Forum 2016’ in Switzerland this week, met with UN Secretary General Ban Ki Moon and Swedish Prime Minister Stefan Lofven.

Bank of Tokyo-Mitsubishi opens liaison office in Colombo

Sri Lanka is likely to witness a surge in foreign direct investment (FDI) from Japan with latter’s premier bank sounding upbeat and pledging to commit to a long-term economic relationship with the island nation.

Precious agarwood!

?Sadaharitha Plantations, a leading commercial forestry company in the country, has come up with an innovative solution to produce agarwood, a highly valued raw material used in the production of perfumes.

Traditional skills in lapidary arts

?A traditional Sri Lankan lapidary engaged in his craft in the Galle Fort during the Galle Literary Festival 2016 held last week

Sri Lanka aims to lure US $ 5bn in FDIs next three years

Confident that the Yahapalanaya has paved the way to bring nothing but fortune to the nation, a top Cabinet Minister said Sri Lanka aimed to attract foreign direct investments (FDIs) of US $ 5 billion within the next three years.

US$ 20 mn WFP grant to tackle food security issues

Sri Lanka will be receiving a US$ 20 million grant from the United Nations World Food Programme (WFP) to address the country’s food security issues.

Govt.’s thrust on upscale Western tourists may be misplaced: JLL

The Sri Lankan government’s decision to place the utmost importance on upscale Western tourists seems to be misplaced, a Fortune 500 company said.

People’s Insurance shares debut; close below offer price

?The shares of debutant People’s Insurance Limited PLC (PIL) yesterday closed at Rs.14.90, below the offer price of Rs.15, despite opening higher at 15.60. 

Analysts say bourse needs to brace for a taxing year

Prospects for Sri Lanka’s stock market this year remain rather bleak though some market analysts say the situation may improve towards the latter part of the year provided the confidence factor in place. 

Sri Lanka could gain from China’s apparel exodus: experts

The supply side of the Sri Lankan apparel sector could find some growth from the exodus of apparel companies from China, an expert said at the Sri Lanka Economic Forum 2016.

Plantation Industries Minister inspects TSHDA

Minister of Plantation Industries Navin Dissanayake inspected the Tea Small Holding Development Authority yesterday, at Pellawatte Battaramulla which is under the purview of his Ministry.

SriLankan Airlines bids goodbye to Airbus A340s after 21 years of service

?SriLankan Airlines, the first Asian airline to operate the four-engine Airbus A340 aircraft, bid goodbye to the last of its A340s after more than two decades in service, with a final commercial flight yesterday.

Qatar Airways chief meets PM, FM

Qatar Airways Group CEO Akbar Al Baker (left) with Prime Minister Ranil Wickremesinghe (middle) and Finance Minister Ravi Karunanayake at Temple Trees, Colombo.

Sri Lanka and Pakistan ink bilateral agreements worth over US $ 700mn

Sri Lanka and Pakistan signed a number of memoranda of understanding valued over US$ 700 million yesterday during the launch of the Pakistan Single Country Exhibition, coinciding with the state visit of Pakistan Prime Minister Nawaz Sharif.

Blair pledges support for investment promotions

?Britain’s former Prime Minister Tony Blair visited the Development Strategies and International Trade Ministry and met Minister Malik Samarawickrama yesterday.

CB cautiously optimistic about Fed rate impact

?A possible rate hike in March by the US Federal Reserve as expected by some analysts will push Sri Lanka to reconsider its current monetary policy stance, Central Bank Governor Arjuna 

Sri Lanka second best place to visit

Sri Lanka is ranked second among the top 16 places recommended by the world famous travel and life style magazine Condé Nast Traveller to visit in 2016.  Endorsing Sri Lanka as the second 

CB Chief says no dire need for emergency funding

?The country has no need to raise emergency funds, though the government may decide to make a formal request to the International Monetary Fund (IMF) for “some sort of arrangement” between Sri Lanka and the multilateral lender, Central Bank Governor Arjuna Mahendran said. 

Admiring national arts and crafts

?President Maithripala Sirisena evaluates an award winning mask of the demon Mahasona, used in traditional healing exorcism rituals, during the National Craft Council’s Shilpa Awards held at Ape Gama in Battaramulla recently. 

End of the road for high speed internet in Sri Lanka?

In a bizarre turn of events, the newly appointed Director General of the Telecommunications Regulatory Commission (TRC), Sunil S. Sirisena has decided to discontinue the National Broadband Initiative (NBI), which ensured high speed broadband internet access to citizens at affordable prices, Mirror Business learns.

Da Bindu Muthu 2015

A trade fair showcasing the entrepreneurship of Samurdhi recipients in the Matara district under the title ‘Da Bindu Muthu 2015’ commenced at Uyanwatte Stadium yesterday.

New investment and export framework to be unveiled in January

Sri Lanka will have its first glance of the country’s new investment and export framework next January, according to a top Cabinet Minister in-charge of international trade. 

Elon Musk’s SpaceX succeeds in historic rocket launch, landing

?AFP: SpaceX successfully landed its powerful Falcon 9 rocket in an upright position on Monday, a historic first in the company’s bid to make rockets as reusable as airplanes.

Large portion of port income used for loan settlement: Minister

Though the Colombo Port has earned an income of Rs.26 billion this year, a significant portion of it will go to settle a loan obtained from the Chinese government for the construction of the Hambantota Port, Ports and Shipping Minister Arjuna Ranatunga yesterday said.