Sri Lanka Brodcasting Corporation

Tue01242017

Last updateTue, 24 Jan 2017 8pm

Business News

Sri Lanka is in a mission to conquer business opportunities Mekong region.

Greater Mekong Subregion Business Council said that there is tremendous potential in trade and investments opportunities with mutual benefits for Sri Lanka and for the Mekong countries that could help the Sri Lankan economy in a bigger way.  Especially in countries such as Myanmar which opened its economy following a transition of power to a democratically elected government, Sri Lanka can reap the benefits from industries such as construction, healthcare and even education in the country.

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The cabinet has approved a proposal to limit import and use of harmful Asbestos.

 

The cabinet has approved a proposal to limit import and use of harmful Asbestos. Accordingly import and use of such asbestos and alike products will be totally prohibited from 1st of January 2018.

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1,450 metric tons of fish exported to the Europe after the removal of the ban.


The Ministry of fisheries announces that 1,450 metric tons of fish has been exported to the Europe after the removal of the ban imposed on Sri Lanka. The ministry added that high demand is witnessed for tuna fish from Europe and some other countries.

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A special project to provide electricity through solar power for one million houses will commence tomorrow.

A special project to provide electricity through solar power for one million housing units will commence tomorrow. President Maithripala Sirisena will participate as the chief guest.

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Discussion to improve the trade ties between Sri Lanka and USA.

Sri Lanka and USA will enter into a special agreement to strengthen the trade ties between the two nations. The Inter-Sessional meetings of the 12th United States- Sri Lanka Trade and Investment Framework Agreement to complete the work-plan under US-Sri Lanka Joint Action Plan finalised on April 28 in Washington DC opened in Colombo yesterday to further give great impetus to historic Sri Lanka-US trade ties.

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Central Bank Governor says the national economy is getting stabilized.

Governor of the Central Bank Dr. Indrajith Coomarswamy says the national economy is getting stabilized. He said that Sri Lanka's private sector credit growth will decelerate to 18 percent at the end of 2016 from more than 28 percent as the central bank's policy tightening measures begin to bite. He told reporters that private sector credit growth edged up to a four-year high of 28.2 percent in June, which the central bank attributed to "a high intake of credit to the industry and services sectors" as well as "substantial growth in personal loans and advances".

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Price reduction of drugs in two weeks.

Minister Dr. Rajitha Senaratne says the national pharmaceutical regulatory commission is ready to release the gazette notification on the reduction of 85 percent of prices of pharmaceutical items within the next two weeks.  The authority said that before releasing this gazette notification, there is a necessity to resolve some of the technological problems.  The minister made these remarks at a discussion held yesterday at his ministry with the small scale importers of drugs. He added that the people could purchase their needy drugs at a lower price after the release of this gazette notification.

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Minister Dr. Rajitha Senarathna says he expects to reduce the prices of medicines up to 85 percent after the relevant gazette notification issued.

 

Minister Dr. Rajitha Senarathna says he expects to reduce the prices of medicines up to 85 percent after the relevant gazette notification issued.  Then, the pharmaceutical companies will not be allowed to arbitrary increase the prices and other additional expenses.

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Illegal street hawkers in Colombo city will be removed from the 15th of next month.

 

It has been decided to remove the illegal street hawkers, advertisements and cart traders from the 15th of next month. This decision has been taken at a meeting held at the Ministry of Provincial Councils and Local Government recently. The meeting was held under the patronage of the Secretary of the Ministry Kamal Pathmasiri.

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The price of diesel will not be increased due to tax revisions on diesel products.

 

 

The government has decided to increase the manufacturing tax on a diesel litre to ten rupees from the current 3 rupees.

The Ministry of Finance reiterates that this tax revision will not lead to an increase in the price of diesel. The main objective of the tax amendment is to gain the advantage of the declining crude oil prices in the world market to the government.

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