14December2017

Athulatha

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Richard Pieris & Company PLC plans to invest between Rs 15 to 20 billion in several unique projects in the next three years that will see electric cars, lithium batteries and Oud perfume manufactured in Sri Lanka. Dr. Sena Yaddehige, Chairman of Richard Pieris & Company PLC, said the group profit that stood at Rs 180 million in 2002, today, before even finishing the year has increased to Rs 4,100 million, a 28 times increase. He further said the business that commenced manufacturing rubber erasers has developed to such a extent that there was not a single house that had…

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Danish owned AP Moller-Maersk, the world’s largest container shipping line, has welcomed Sri Lanka’s recent move to liberalise its shipping sector. “The Budget 2018’s proposals on Lankan shipping liberalization are very constructive,” said the visiting AP MOLLER-MAERSK’s Senior Director South Asia, Julian Michael Bevis. MAERSK’s South Asia Senior Director South Asia made these comments at a meeting with to Minister of Industry and Commerce Rishad Bathiudeen. Peter Taksoe-Jensen, Denmark’s Ambassador to Sri Lanka was also present. “AP MOLLER-MAERSK’s transport & logistics consists of Maersk Line, APM Terminals, Damco, Svitzer and Maersk Container Industry. The mission is to enable and facilitate…

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The International Finance Corporation (IFC) has estimated that Sri Lanka can envisage a total climate-smart investment opportunity of $18 billion during 2018 to 2030. In a survey conducted under the theme ‘Climate Investment Opportunities in South Asia’ it states that Sri Lanka has an US$ 2.5 billion investment opportunity for Renewable energy power generation. The IFC says that US$ 8.4 billion opportunity has opened up for Green Buildings. This is to meet the government’s policy objective of conservation and effective use of energy, as well as the country’s housing and commercial construction needs. The country has an internal labeling system…

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An electric three -wheeler has been manufactured by a local entrepreneur for the first time in the Sri Lankan automobile history. The inventor M. S. M. Rifkhan (Managing Director Sri Lanka Mobility (Pvt.) Ltd, has already built one three wheeler, powered a rechargeable battery c ells and has already completed 80% of the test run. The test which was very successful would be completed next week and the first five electric three wheelers would be ready from next January. We will put out 50 more by March 2018.” He said that he had a passion to do something unique for…

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With violence and political issues in many countries accelerating, Sri Lanka Tourism has one of the best opportunities to capture the world market and bring in more high spending tourists to Sri Lanka, said President Maithripala Sirisena speaking at the opening of the Golden Crown Hotel in Ampitiya Kandy last Saturday. He said that today Sri Lanka is one of the safest countries in the world sans any violence and political unrest. The Sri Lankan Tourism sector must exploit this advantage and try to bring in more high spending foreigners to Sri Lanka. The President who opened the hotel said…

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With violence and political issues in many countries accelerating, Sri Lanka Tourism has one of the best opportunities to capture the world market and bring in more high spending tourists to Sri Lanka, said President Maithripala Sirisena speaking at the opening of the Golden Crown Hotel in Ampitiya Kandy last Saturday. He said that today Sri Lanka is one of the safest countries in the world sans any violence and political unrest. The Sri Lankan Tourism sector must exploit this advantage and try to bring in more high spending foreigners to Sri Lanka. The President who opened the hotel said…

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දායක විශ්‍රාම වැටුප සම්බන්ධයෙන් කලාකරුවකු ඉල්ලීමක් කළ පසු ඒ පිළිබඳව සළකා බැලීමක් කළ හැකි බවත් ඒ පිළිබඳව අවශ්‍ය කටයුතු ඉටු කළ හැකි බව අභ්‍යන්තර කටයුතු වයඹ සංවර්ධන හා සංස්කෘතික කටයුතු අමාත්‍ය එස්.බී නාවීන්න මහතා අද (25) පාර්ලිමේන්තුවේ දී ප්‍රකාශ කළේ ය. පාර්ලිමේන්තු මන්ත්‍රී වෛද්‍ය නලින් ද ජයතිස්ස මහතා- වියපත් කලකරුවන්ට සරණක් නෑ. 31ක් දායක වී ඇත්තේ දායක විශ්‍රාම වැටුපට. සහනයක් ලබාදීමට ක්‍රියාත්ම වැඩපිළිවෙල මොකකද? අභ්‍යන්තර කටයුතු වයඹ සංවර්ධන හා සංස්කෘතික කටයුතු අමාත්‍ය එස්,බී නාවීන්න මහතා එම ප්‍රශ්නයට පිළිතුරු ලබාදෙමින් ඒ සඳහා ඉල්ලීමක් කළ යුතු බවත් කලාකරුවන් ඉන්නාවා නම් ඒ අය නම් කර අවශ්‍යතා ඉටු කර දීමට කටයුතු කරන බව පැවසී…

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The licence granted to Central Investments and Finance has been cancelled by the Monetary Board of the Central Bank. The Central Bank Monetary Board has taken this decision at its meeting held on Nov 6, 2017 and the decision has been taken to issue a notice of cancellation and a letter has been sent to the Colombo Stock Exchange and also the notice of cancellation was communicated to the company on November 17, 2017 the Central Bank said. The decision has been taken in terms of Section 37 (1) of the Finance Business Act No. 42 of 2011 (FBA). Monetary…

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Sri Lanka should try to reduce red tape and minimize corruption to bring in more foreign direct investments to the country, said Ambassador of the Delegation of the European Union to Sri Lanka and the Maldives, Tung Lai-Margue. He was speaking at a seminar on the current of state of affairs in terms of EU policy on Government of Sri Lanka’s commitment to comply with international conventions. He said that corruption too has to be eliminated and the business community can play a major role by not offering ‘bribes’ to get their matters attended to. “One of the most important…

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Sri Lanka’s recent credit outlook upgrade by an international rating agency is a welcome step for the government’s debt-relief programs, Prime Minister Ranil Wickremesinghe said Monday evening. “This is not an occasion to have a party,” he said.“It just says that our stabilization program is working.” He was addressing a crowded ballroom at the Shangri-La Hotel, for Business Today’s “Top 30” business awards ceremony. Earlier in the day, the international credit-rating agency Standard and Poor’s revised its outlook on Sri Lanka from “negative” to “stable.” In a written statement, S&P said they upgraded the country’s status because of the passage…

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