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Last updateTue, 23 Jan 2018 7am

Business News

A youth training centre for garment industry opened in Mullaithivu.

A new training centre for potential 35 ladies and youths expecting to join the garment industry in future came into operation on Thursday after the Security Force Headquarters - Mullaittivu took initiatives to establish a new garment factory in collaboration with the District Secretary for Mullaittivu and garment industrialists.


The US commends financial discipline of Sri Lanka.


The Chamber of Commerce of the Unite States has agreed to enhance investments in Sri Lanka due to transparency in the economic activities of the country. Minister Ravi Karunanayake says the financial discipline of the country has attracted many accolades from the American Chamber of Commerce. The Minister of Finance was attending 2017 Spring Meeting of the World Bank and International Monetary Fund in Washington. He further said that business friendly policy of Sri Lanka has made the island nation unique in the Asian region. Development initiatives, trade not aid, private public partnerships, debt management and eradicating poverty in Sri Lanka were the key topics for Finance Minister and his team at meetings with the global lenders. Deputy Managing Director of the IMF Mitsuhiro Furusawa during a meeting with the Finance Minister emphasized that the IMF remains a committed partner for Sri Lanka through their regular policy dialogue and technical support. Also discussed were the extensive reforms to IMF surveillance activities and financing facilities in recent years to make them better tailored to individual country needs. Vice President of the World Bank Annette Dixon meeting with Minister Karunanayake commended Sri Lanka’s economic development process. She said that Sri Lanka will get the assistance of the World Bank to strengthen its economy. During discussions, the World Bank official agreed to send a special investigation team of the World Bank to look into the solid waste management in the country.

Singapore Technologies Electronics wins contract to with a Sri Lankan government agency to provide consultancy services

Singapore Technologies Electronics has won a contract with a Sri Lankan government agency to provide consultancy services for the country's first National Cyber Security Operations Centre.
The Information and Communication Technology Agency of Sri Lanka contract won by ST Electronics requires it to design and implement a strategy for the centre.

The association of essential food importers says there is no shortage of essential items.

Hemaka Fernando, the spokesman for the association of essential food importers, says that there is no shortage of essential items, in the market during the festive season. The stocks of sugar and dhal and rice are sufficient for to meet the requirements during the next three months.

Laksathosa will provide a 1,515 rupees worth food basket of essential consumer items at 975 rupees during this festive season.

Laksathosa outlets on the instructions of President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe, will provide a 1,515 rupees worth food basket of essential consumer items at 975 rupees to consumers during this festive season.

The Government has taken this decision to support the public reduce their cost of living during the upcoming Sinhala and Hindu New Year season. Accordingly, this food basket consisting of 10 essential items could be purchased by the consumers between April 10 and 20, 2017 through Sathosa outlets islandwide. The Government expects to sell one million food baskets during this period.

The Consumer Affairs Authority is vigilant to protect consumer rights during the festive season.

Minister Rishard Badeudeen said many programmes have been implemented to protect the rights of the consumers during the festive season. Raids will be conducted to nab errant traders. The Minister said officials of the Consumer Affairs Authority have been informed over this matter.


Transport authorities round up 235 private buses that did not issue tickets.

235 passenger buses in Colombo district which have not issued tickets to the commuters have been rounded up.  Mr. Jagath Perera the general manager of the western province  transport authority said that his officials conducted the rounding up operation yesterday.  


The government provides concessionary loans to electricity consumers to install solar panels.

The government has decided to provide loans with low interest rates to families to install solar power panels in their houses.  Loans from 150 thousand to 350 thousand rupees will be given by state and private  banks  in this connection.


The National Consumer Price Index rises by 8.2 percent.

Sri Lanka's country-wide price rises measured by the National Consumer Price Index rose 8.2 percent in the 12 months to 7 February 2017, accelerating from 6.5 percent in January, the statistics office said. The index rose 0.5 percent in February to 119.9 points. In January, prices rose 1.1 percent. Food prices rose 10.2 percent in the 12 months and non-foods rose 6.8 percent, the statistics office said.


Legal action for thirty motor vehicle spare part outlets in Panchikawatta.

A large amount of Chinese motor spare parts which were marked as made in Germany and Japan were seized from Panchikawatta in Maradana, yesterday. They were taken into custody during a raid conducted by Consumer Affairs Authority. The Authority has sealed the arrested items.


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