Business News (242)
Ceylon Chamber of Commerce signs MoU with Southern Gujarat counterpart
editor
The Ceylon Chamber of Commerce recently signed a Memorandum of Understanding (MoU) with the Southern Gujarat Chamber of Commerce & Industry (SGCCI), paving the way for enhanced cooperation and growth between Sri Lanka and the dynamic business community of South Gujarat, India.
Sri Lanka Railways has decided to implement a special railway service offering toll-free rides for a week starting from today (17) for passengers heading to Mihintale from Anuradhapura for Poson Poya Day.
Sri Lanka’s film production, distribution and screening at cinema halls will be given an official recognition as an industry by overhauling and modernising the outdated national film corporation, Finance Ministry sources divulged.
*The reserve money increased compared to the previous week mainly due to increase in the currency in circulation and increase in the deposits held by the commercial banks with the Central Bank.
Case of USD 3.2 million ‘missing’ from Hambantota Int’l Port Group
editor
A financial fraud allegedly occurred at Hambantota International Port Group (HIPG), with USD 3.2 million reported missing from the company’s accounts, purportedly transferred to an unknown account in Indonesia.
Sri Lanka’s year-on-year GDP growth rate for the first quarter of 2024 has been estimated as 5.3% of positive growth rate, according to the Department of Census and Statistics.
Tea production in May records an uptick anifdt five month overall decline
editor
Tea production in May saw an uptick, but the first five months’ crop sustained an overall decline, highlighting ongoing challenges within the industry, including weather variability and other factors on cultivation.
Cabinet nod to prepare Bill to amend Consumer Affairs Authority Act
editorThe Cabinet of Ministers on Tuesday approved the proposal to expedite the preparation of a Bill to amend the Consumer Affairs Authority Act No. 9 of 2003, following the observations received from the Attorney General.
The Cabinet of Ministers at its meeting on Tuesday approved a proposal by President Ranil Wickremesinghe to commence negotiations for a Free Trade Agreement (FTA) with Malaysia.
The Planters’ Association of Ceylon (PA) yesterday confirmed that it has no option but to continue to oppose the sudden Wages Board decree to increase the fixed wage of tea and
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National Tariff Policy implementation to begin in 3-phases from January 2025
editor
New policy aims to establish stable, predictable tariff framework, boosting competitive edge for trade and investment in Sri Lanka
The Cabinet of Ministers has approved a proposal to issue a new rule under clause 22(1) of the Foreign Exchange Act No. 12 of 2017.
Govt. seeks Rs. 8.75 bn to restart stalled development projects
editor
State Minister of Finance Shehan Semasinghe yesterday said that Parliament’s approval has been sought for an additional allocation of Rs. 8.75 billion to restart essential
Unilever Sri Lanka inaugurates 2.33 MW solar power project at Horana factory
editor
Unilever Sri Lanka recently inaugurated a new 2.33 MW solar power project at its Horana factory, partnering with Abans Electricals PLC for project execution.