PM kick starts Tourism Fest

Prime Minister Ranil Wickremesinghe officially inaugurated the “Tourism Fest 2015 with a Spirit of Christmas” campaign organized by Sri Lanka Tourism at the Arcade-Independence Square on Saturday evening. 

PM kick starts Tourism Fest (2)

Prime Minister Ranil Wickremesinghe officially inaugurated the “Tourism Fest 2015 with a Spirit of Christmas” campaign organized by Sri Lanka Tourism at the Arcade-Independence Square on Saturday evening. 

Trying their luck

Tourist arrivals to Sri Lanka rose 20.4 percent to 144,147 in November 2015 from a year earlier, driven by China, India, United Kingdom and Germany, according to state tourism promotion office data. Picture shows a group of tourists in Colombo purchasing local lotteries to try their luck. Pic by Kithsiri de Mel

ADB provides US$ 200 mn loan for integrated road development programme

Asian Development Bank (ADB) and the Government of Sri Lanka singed two loan agreements for the implementation of the Integrated Road Investment Program which was designed to ensure rural road connectivity between selected rural hubs and the adjacent economic centers of Sri Lanka.

Brandix wins 8 Presidential Export Awards

The Brandix group’s contribution to the country’s export economy was recognised at the highest level this week when Sri Lanka’s single largest apparel exporter was presented with eight Presidential Export Awards at a ceremony presided over by the country’s head of state.

National Productivity Awards 2014

?Wijeya Newspapers Ltd clinched the National Productivity Award under the Manufacturing Sector (Medium Scale) at the National Productivity Awards 2014 ceremony held at the BMICH yesterday.

Govt. calls for CB report on cash withdrawal tax

?Announcing a number of amendments to the revenue proposals presented in Budget 2016, Prime Minister Ranil Wickremesinghe yesterday said a report has been called from the Central Bank on the Budget proposal to tax the cash withdrawals from banks.

PM proposes to set up Political Council for consensus hours after fistfight in parliament

?An innovative Political Council should be established to promote policy consensus and Parliamentary harmony, Prime Minister Ranil Wickremesinghe said, delivering the Annual Sujata Jayawardena Memorial Oration 2015 last Friday.

New appointments for Rubber Development Officers

For the first time in the history of Rubber Development Department, 83 Rubber Development Officers received new appointments recently. The ceremony was held at the National Institute of Plantation Management, Athurugiriya (NIPM). Minister of Plantation Industries 

Sri Lanka mulls meeting country’s fabric need

?In a step towards import substitution, Sri Lanka is now looking at the possibility of producing the country’s total fabric requirement domestically doing away with the imports which drains much needed foreign currency from the country. 

Consumer demand may remain tepid next two years: FMCG executive

The consumer demand in Sri Lanka is likely to be disappointing in 2016 and 2017, with the sources which boosted spending drying up, a consumer industry executive said.

HSBC brings the spirit of Christmas to the city (VIDEO)

?Celebrating the start of the holiday season, HSBC unveiled, "Christmas at the Arcade" with the big Christmas tree lighting and a seasonal zone, at the Arcade Independence square on 4 December, 2015.

Politics trumps professionalism!

As the new government is heavily caught up with the tweaking of its financial plan for greater economic prosperity, a top economist in the country pointed out that politics in the most cases trumps professionalism as budgets end...

New Managing Director at Ports Authority

?Sarathkumara Premachandra has been appointed as the Managing Director of the Sri Lanka Ports Authority (SLPA). The official appointment was handed over to Premachandra by Ports and Shipping Minister Arjuna Ranatunga at a special meeting held at the SLPA recently.

Sri Lanka to launch fresh bid round for oil and gas blocks

Sri Lanka will begin a fresh international bidding process for the development of offshore oil and gas blocks in the Mannar Basin from the first quarter of 2016, a top government official told Mirror Business.

Quality check on tea exports

Plantation Industries Minister Naveen Dissanayake paid a visit to the Trico Container yard at the Grandpass Harbour entrance in Colombo recently.  The minister inspected the facility installed at the yard to check the standard of the tea being exported from Sri Lanka.  The facility was launched with the assistance of the

Best Annual Report

?The grand finale of the 51st Annual Report Awards organized by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) was held at Waters Edge, Battaramulla yesterday.

Global spillovers to weigh on Lankan economy in 2016: PM

The Sri Lankan economy may face a downturn in 2016 due to the events unfolding in the global arena, but should nevertheless work towards a 6.5 percent growth, Prime Minister Ranil Wickremesinghe said at the 30th anniversary celebration of the Colombo Stock Exchange.

Surge in tourist arrivals

?Foreign tourists walk besides a Buddha statue in Vihara Maha Devi Park in Colombo yesterday.  Tourist arrivals to Sri Lanka gained 8.8 percent year-on-year in October, government data showed. AFP 

Employers’ Federation slams private sector wage increase

Sri Lanka’s employers’ representative body to deal with labour issues, the Employers’ Federation of Ceylon (EFC) yesterday slammed the government for proposing to increase private sector wages. 

Shangri-La’s Hambantota Resort set to open mid next year

Shangri-La’s Hambantota Resort and Spa, the first of the two Shangri-La hotels being constructed in Sri Lanka would be opened on June 2 next year, General Manager of Shangri-la Hotel and Resorts Sri Lanka, Mehdi Serrour said.

Singer Lifestyle Exhibition

Singer Sri Lanka Group CEO Asoka Pieris, Chairman Dr. Saman Kelegama and Non-Executive Director Gavin John Walker about to release balloons to mark the 5th anniversary of their Lifestyle Exhibition and Funfair currently held at the BMICH in Colombo. Pic by: Kithsiri de Mel

Apparel industry sets US$ 10bn export target by 2025

The apparel industry has set an annual export target of US$ 10 billion by 2025 while expanding into regional markets, the Sri Lanka Apparel Exporters Association (SLAEA) said.

Tax revisions in Budget mostly negative for apparels: industry body

The tax revisions in the 2016 Budget are likely to have negative impacts on the apparel exports of Sri Lanka, while locals may not be able to afford locally-made garments, an apex industry body said. 

Budget proposal on Govt. guarantee for NBFI deposits receives mixed reactions

The 2016 Budget’s proposal to guarantee the deposits of all non-banking financial institutions (NBFIs) may have been poorly conceived, but will have limited effects on the banking sector, experts said at the CA Sri Lanka Budget Seminar.

Budget proposals: Ravi K says open for dialogue

Embracing an open door policy in steering the government’s Treasury, Finance Minister Ravi Karunanayake yesterday told the country’s private sector to put forward their concerns on Budget 2016...

Monkey business

A tourist is seen capturing monkey tricks near the Independence Square in Colombo, taking some time off from sightseeing. 

A lengthy affair…

Finance Minister Ravi Karunanayake presenting the maiden budget of the national unity government, a four and half hour affair, which caught many off guard. This was Sri Lanka’s 70th budget. Pic by Pradeep Pathirana

‘Ceylon Tea’ brand likely to be reconceptualised: Minister

Plantations Industries Minister yesterday hinted the ‘Ceylon Tea’ brand would be reconceptualised in the near future, due to a good majority of the younger generation unable to link the name to the island nation.

No more protectionist policies for industries under new regime

Disclosing another dimension of the national unity government’s new economic policy, a senior government bureaucrat said the new administration would not continue the traditional policy of industry protectionism...