Sri Lanka Brodcasting Corporation


Last updateTue, 23 Jan 2018 7am

Business News

Foundation stone for the Volkswagen factory in Kuliyapitiya will be laid this afternoon by the president.


Proving a pledge given by the unison government, a Volkswagen motor car manufacturing factory will be opened in Sri Lanka. It will be established in 50 acre land plot at Labuyaya in Kuliyapitiya. Laying of foundation stone for the factory will be held under the patronage of President Maitripala Sirisena this evening. This factory was an idea of Prime Minister Ranil Wickremasinghe. Volkswagen AG’s local joint venture partner is Senok Automobiles and the total investment will be 26.5 million dollars. Out of this 21.5 million dollars will be invested in fixed assets within a period of 24 months, the Board of Investment said. The company will initially assemble vehicles in the 1000cc to 2000cc category and these vehicles will be diesel powered and include passenger cars, Sport Utility Vehicles, Multi Utility Vehicles or commercial vehicles. The agreement to assemble cars was signed by BOI Chairman Upul Jayasuriya and Senok Automombiles Chairman Noel Selvanayagam in April 2015. The uniqueness of the project in addition to bringing investor confidence for Sri Lanka and FDI’s it will also bring in advanced German automobile technology into the country and create job opportunities for the local youth.” Volkswagen, the second largest car maker in the world had strived since 2008 to start up a business to manufacture cars in Sri Lanka for export, but did not succeed for various reasons. But the efforts made by the relevant authorities have become fruitful during the present government’s rule.

The World Bank and Asian Development Bank will support new development projects this year.

Minister Rauff Hakeem says special attention will be focused to alleviate poverty in Sri Lanka in the New Year. Priority will be given to stop wastage and corruption.


The 2,500 salary increase will be given to the private sector employees as well.


Minister W.D.J Senevirathne says the 2,500 salary increase approved by the budget will be given to the private sector employees as well. The government has instructed the private employers to grant this allowance to their employees. If any employer fails to do this stern legal action will be taken against them. The Ministry of Labour has already appointed a committee to look in to this matter. It has already received about 400 complains regarding such private institutions.

Sri Lanka’s economy has shown a 4.1 percent growth in the 3rd quarter of this year.

The Central Bank says the Sri Lankan economy is estimated to have grown by 4.1 per cent during the third quarter of 2016 compared to the growth of 5.6 per cent in the corresponding period of the previous year. Services activities grew by 4.7 per cent, while Industry activities grew notably by 6.8 per cent during this period.


Providing of fertilizer subsidy to farmers for the Maha season to conclude today

Additional Secretary to the Ministry of Agriculture Vijitha Chandra Piyathilleka says releasing of money under the fertilizer subsidy programme to the farmers for the cultivation activities of Maha Season will conclude today. Money had been deposited in bank accounts of farmers of 18 districts by yesterday.


13,500 factories which cause air pollution have been identified.


Air Resources Management Unit Central Environmental Authority says that it has identified 13,500 factories which cause air pollution. Director of the Unit L.P Jayasuriya says that specifications will be arranged for those factories to reduce the harmful gas emissions. The local government bodies have been given the authority of issue the relevant environmental certificates and licenses for the small and medium scale industrialists. 

20,000 high breed milking cows will be imported from Australia.


Minister of Rural Economic Affairs P Harrison says 20,000 high breed milch cows will be imported from Australia to make the country self-sufficient with local liquid milk. The government aims to achieve this target by 2020. At a ceremony held in Gannoruwa yesterday to distribute appointment letters to 120 Veterinary Surgeons, the Minister said an agreement has already been signed to obtain 5000 milking cows from France. These cows will be distributed among the farmers in Kandy, Nuwara Eliya,


The objective of the government is to make the Hambanthota port an income generating enterprise with support of a Chinese company.

Minister of Development Strategy Malik Samarawickrema says the government has to utilize correct and timely long terms strategies to liberate the country from the economic crisis. It should achieve economic development on a correct path.


Sri Lankan crowned as “World's Leading Airline Operating to Indian Ocean"

Sri Lankan Airlines has been crowned as the “World's Leading Airline Operating to the Indian Ocean Region in 2016” at the prestigious 23rd annual World Travel Awards held last week in Maldives. Sri Lankan Airlines completed the launch of services to 11 more cities around the Indian Ocean.

Just a few weeks ago Sri Lankan received the title of “Best Full Service Airline in Central and South Asia” for the second consecutive year at the Future Travel Experience Asia Awards 2016 in Singapore.

Government bans the drunken fishermen from fishing activities.

Government bans the drunken fishermen from fishing activities. The State Minister for Fisheries and Aqua Culture Development Dilip Wedaarachchi made these remarks at a media conference held recently. Minister further noted that there were many disasters occurred in the past by drunken fishermen.


Local News