BD Garment makers mull tie-up with SL firms

  Bangladeshi garment manufacturers want to tie up with their Sri Lankan counterparts to add more value to the garment supply chain and reduce the lead time by at least 10 days. The development comes after Malik Samarawickrama, Sri Lankan minister for development strategies, put forward the idea in a meeting with the leaders of Read More

BOI has 16 projects in Jaffna

Board of Investment (BOI) has 16 projects in commercial operation In Jaffna. It employs 4499 people. Director Publicity Dilip Samarasinghe said that there is a project awaiting approval which is a hotel with 1044 rooms. It will provide 38,000 job opportunities in every area of the hotel.

Rupee steady; exporter dlr sales offset

The Sri Lankan rupee was steady on Friday as dollar sales by foreign investors and exporters were offset by mild demand for the importer greenback, dealers said.The spot rupee ended at 145.50/53 per dollar at 0636 GMT, compared with Thursday’s close of 145.50/52.

Lanka gets USD128mn ADB loan

The Asian Development Bank (ADB) will give a 128 million US dollar loan for the greater Colombo water and wastewater management improvement investment program to assist achieve providing safe water and full sanitation coverage.

Striking balance between growth and welfare

The government has to balance policy-led growth and the very existence of the economically vulnerable people of the country through the welfare safety net, President Maithripala Sirisena said on Tuesday addressing the Sri Lanka Economic Summit 2016 at the Cinnamon Grand, Colombo. “We have to pursue right economic policies over a considerable period of time Read More

‘Fiscal consolidation is government’s prime concern’

  Finance Minister Ravi Karunanayake said that there would be no unnecessary public expenditure to further grow the pile of national debt. Addressing the Sri Lanka Economic Summit 2016 at the Cinnamon Grand, Colombo on Tuesday, the minister said: “Fiscal consolidation is the government’s prime concern. We recognize it as a must. We have had Read More

SINGER Sri Lanka ‘records excellent growth’

Singer (Sri Lanka) PLC Group’s second quarter financial results continued to display excellent growth fuelled by an increase in Revenue and Net Income. In the 2nd Quarter of 2016, the Group’s revenue increased 23% to Rs. 11.6 Billion, while net profit improved 60% to Rs 613.4 Million, when compared with the previous year. This included Read More