Singapore unveils public transport future

?REUTERS: Singapore unveiled its public transport future yesterday, and it was a vision of passengers commuting in driverless buses along roads and freeways populated by platoons of autonomous trucks following a single driver.

Fonterra launches liquid milk product under Anchor brand

Global dairy giant Fonterra officially launched its UHT processed liquid milk product in Sri Lanka under its leading brand Anchor yesterday, at a new milk chilling centre in Gampaha.

Laugfs acquires control of B’desh LPG operator for US $ 18.75mn

Sri Lanka’s only privately owned liquefied petroleum gas (LPG) operator Laugfs Gas PLC has acquired a 69 percent stake in Bangladeshi LPG company Petredec Elpiji Ltd (PEL) at an investment of US $ 18.75 million. 

Popular tourist attraction

Artists from most parts of the country display their collection at the annual Open Air Art Festival taking place down Green Path in Colombo these days.

Techno 2015 exhibition

The National Engineering and Technology Exhibition, Techno-2015 organized by the Institution of Engineers Sri Lanka kicked off yesterday at the BMICH.  The three-day exhibition features the widest range of engineering and technology products and services. Pix by Kithsiri de Mel 

Experts call for national pension policy framework

The Sri Lankan government must work towards creating a national pension policy framework to ensure financial security for the rapidly ageing population of the country, experts told a National Pensioners Day Symposium organized by the Department of Pensions yesterday. 

SME and large company finances should come under same laws: expert

Small and medium enterprise (SME) finances should come under the same laws governing larger companies, the head of the global body for professional accountants told Mirror Business during a brief interview in Colombo. 

Terrorism impact on economy long-term: Study

A study facilitated by international credit rating agency, Moody’s Investors Service has established that terrorist attacks significantly weaken economic activity and its effects on the economy are long lasting.

Sri Lanka to apply for GSP Plus end of this year: Harsha

Deputy Foreign Minister Dr. Harsha de Silva said that the government would be forwarding the formal application to regain the GSP Plus preferential trade facility from the European Union (EU) by the end of this year in the backdrop of recent international developments.

Laugfs acquires second LPG ship for US $ 6mn

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 demand in the country.

‘Adyapana 2015’ kick starts

Sri Lanka’s most focused higher education & career exhibition, Adyapana 2015, organized for the 10th successive year, opened at the BMICH yesterday.  This year, there are over 100 exhibition stalls displaying and informing the general public of various courses, 

Govt. mulls altering tea subsidy model

The government has stopped the subsidies provided to tea smallholders, and is evaluating a changed subsidy scheme for the final 3 months of the year, the Plantation Industries Minister said.

No survival for Sri Lanka tourism without professional branding: int’l experts

Sri Lanka cannot survive as a tourism destination without a professional marketing campaign, according to international experts who were speaking at the recently held Cinnamon Future of Tourism Summit.

Top ADB official meets Finance Minister

Asian Development Bank (ADB) Vice President Wencai Zhang who arrived in the island on Monday met with Finance Minister Ravi Karunanayke at the Finance Ministry.

CSE joins United Nations sustainability initiative

?The Colombo Stock Exchange (CSE) joined the United Nations (UN) Sustainable Stock Exchanges (SSE) initiative, a partnership among the UN, UN-supported organisations, stock exchanges, investors, companies, regulators and governments around the world. 

Metro train project developer AEARC opens Colombo office

Revolutionizing the country’s transport sector, Sri Lanka’s first ever metro high speed electric train system, initially running between the Bandaranaike International Airport (BIA), By Lahiru Pothmulla Revolutionizing the country’s transport sector, Sri Lanka’s first ever metro high speed electric train system, initially running between the Bandaranaike International Airport (BIA), Katunayake and Colombo Fort, w

Temasek model to make public enterprises viable

A Temasek model government holding company will be created to improve all public enterprises, Prime Minister Ranil Wickremesinghe said. “We will be making public enterprises viable. Like Temasek in Singapore which has thousands

CIC signs deal with SLINTEC for pioneering research project

?CIC Holdings PLC recently signed a research agreement with the Sri Lanka Institute of Nanotechnology (SLINTEC) to develop a novel herbicide formulation for CIC’s Crop Solutions Division. 

Belgium Ambassador calls on FinMin

Belgium Ambassador for Sri Lanka, India and other SAARC nations Jan Luykx, who is stationed in New Delhi, paid a courtesy call on Finance Minister Ravi Karunanayake yesterday.

Seeking greater economic ties

?Germany’s Federal Minister for Foreign Affairs Dr. Frank-Walter Steinmeier who arrived in Sri Lanka yesterday on an official visit with Sri Lanka’s foreign Minister Mangala Samraweera. Deputy Foreign Minister Harsha de Silva is also in the picture

Off-peak tariffs to charge electric cars

Sri Lanka’s state-owned electricity service providers are now offering domestic time of use (TOU) electricity tariff for cheaper charging of electric vehicles.

Sri Lanka’s ageing population at risk of managing retirement

Sri Lanka’s ageing population is at risk as they will not have enough savings to manage their retirements, cautioned a senior analyst and an economist of a leading stock broking house in the country.  

ADB provides US$ 150 mn loan for Mahaweli Water Security Investment Program

The government is planning to transfer Mahaweli water to North Western, North Central and Northern Provinces under the Mahaweli Water Security Investment Program with the aim of maximizing the productivity of Mahaweli River Basin water resources. 

Prestige Automobile appointed sole authorised importer for ‘BMW i’ in Sri Lanka

?BMW Asia recently announced Prestige Automobile as the sole authorised importer in Sri Lanka for BMW i – the BMW sub-brand for its electric cars comprising the all-electric BMW i3 and BMW i8 plug-in hybrid sportscar.

Second stage of OCH opens to public today

The Japan International Cooperation Agency (JICA)-funded Kaduwela to Kadawatha section (OCH 2) of Colombo Outer Circular Expressway (EO2) is to be declared open today by Highways and University Education Minister Lakshman Kiriella.

Sri Lanka hopes to set terms of economic pact with India by year end

?REUTERS: Sri Lanka hopes to hammer out an economic partnership deal with India this year, its Prime Minister said yesterday, seeking to strengthen the Indian Ocean island’s ties with its big neighbour and reduce its dependency on Chinese investment.

Access to credit linchpin for govt.’s export target

Improving access to export credit facilities for small and medium enterprises (SMEs) remains the crux of accelerating Sri Lanka’s exports and the government must intervene to maintain set targets, experts said.

Economist wants major shift in policy to avoid Greece-like crisis

The Sri Lankan public and politicians must move away from populist, entitlement mindsets if the country wants to avoid a similar fate as Greece, a leading economist said.

BOI outlines country’s investment prospects

At a panel discussion held during the Sri Lanka Pakistan Trade and Investment Forum organized by the Federation of Chamber of Commerce of Sri Lanka (FCCSL), BOI Chairman Upul Jayasuriya briefed Pakistani entrepreneurs on the new attractive investment climate of Sri Lanka.

Sri Lanka’s national budget process ranked among the worst

The national budget process of Sri Lanka is one of the worst in the world, and is only above Nepal in South Asia, Verite Research Executive Director Dr. Nishan De Mel said at the global launch of The Open Budget Survey 2015.