Sri Lanka Brodcasting Corporation

Sat03252017

Last updateFri, 24 Mar 2017 7pm

Business News

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.

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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.

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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.

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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.  

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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

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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.

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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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The Finance Minister of New Zealand commends the strategic plan of Sri Lanka to increase investment opportunities.

Finance Minister of New Zealand Bill English has commended the strategic plan of Sri Lanka to increase investment opportunities.

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Cabinet approval sought to increase cigarette Price by 5 rupees

The cabinet approval has been sought to increase Tax on Tobacco. The cabinet has appointed a subcommittee to look into all connected issues and report back to cabinet. The cabinet sub committee has submitted its recommendation to increase Cigarette Price by 5 rupees of all varieties and 15 percent increase on VAT. A cabinet paper incorporating 5 rupee price hike and  15 percent VAT increase on Tobacco will be submitted on Tuesday.

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