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Last updateMon, 23 Oct 2017 8am

Business News

Osu Sala outlets to be established throughout the island

Minister Rajitha Senarathne says effective steps have been taken to establish Osu Sala outlets covering every part of the island. There 30 Osu Sala outlets available at present. These outlets provide medicines to the general public at a nominal rate. A new Osu Sala outlet was declared open in Kandy recently.


Discussions held to share electricity surplus of SL with regional countries

Attention has been focused on sharing electricity surplus with regional countries which is to be generated using renewable energy sources. Executive Secretary of the United Nations Economic and Social Commission for Asia and Pacific Dr. Shamshad Akhtar discussed the matter when she met Minister Ranjith Siyambalapitiya in Colombo recently


Samsung permanently stops Galaxy Note 7 production

South Korean tech giant Samsung has permanently ceased production of its high-end Galaxy Note 7 smartphones after reports of devices it had deemed safe catching fire.


Japan has granted a sum of over 46 billion rupees to accelerate development in the country.

Japan International Cooperation Agency has come forward to grant a sum of over 46 billion rupees to accelerate development activities in the country during the next five years. The funds will be utilized to streamline management in the state sector and make the state institutions competitive with private sector institutes.


Measures to increase income from the gem exports.

The National Gem and Jewelry Authority announces that it will target to increase the annual foreign exchange income of the country generated by exporting gems to 2 billion dollars. Annual income of 0.78 billion us dollars is earned by the country at present.


Two foreign companies will invest about 10 million US dollars in manufacturing drugs in Sri Lanka.


Two foreign companies have signed relevant agreements to manufacture drugs and pharmaceuticals for the needs of Sri Lanka within the island. Representatives of Russian and Indian companies signed the agreements with local authorities for investments worth 10 million US dollars.  


The 6th World Export Development Summit will be held in Colombo on Monday.


The 6th World Export Development Summit will be held on Wednesday and Thursday at the BMICH in Colombo. The theme of this year is "The change in competition of the trade relations for the success". This summit has been organized with the participation


Caterpillar launches advanced technology solar panels in SL

The global expertise in power generation solutions, caterpillar, has launched its state of the art advanced technology solar panels through its Sri Lankan dealer UTE. In line with Sri Lanka's vision of energy security the company has taken bold steps to introduce the revolutionary CAT Solar Thin Film Technology which will produce more energy than currently available solar solutions.

The environmental friendly solar panels are designed to reduce fuel expenses, lower utility bills, decrease emissions and increase energy efficiency in even the most challenging environments.

The Finance Minister says economic benefits will be given to public through the next budget.

Finance Minister Ravi Karunanayake says the national economy will be directed to the right path by the next budget and economic benefits will be given to the public. At a discussion held in the Ministry he said price of cigarette has been increased by seven rupees and the government expects 22 billion rupees annually from this price increase.


An MOU between Sri Lanka and South Korea to enhance cooperation in the defence sector.

An MOU has been signed between Sri Lanka and South Korea to enhance cooperation in the defence sector. Visiting Chairman of the South Korean National Defence University Leutinent General Vee Sung Ho met State Minister of Defence Ruwan Wijewardena and held discussions of the important matters.


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