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Last updateSun, 20 May 2018 2pm

Business News

The President participates Sri Lanka and Bangladesh business forum.


Today is the final day of the President Maithripala Sirisena's state visit to Bangladesh. Presidential media director Chamuditha Samarawickrema said, that President took part in an investment Forum held in Rudison Blue Hotel in Dhaka. About 100 investors from both Sri Lanka and Bangladesh took part in the forum. Sri Lankan and Bangladesh chambers of Commerce were also represented.


The first multi-purpose sea fish breeding center opened in Batticaloa.


The first multi-purpose sea fish breeding center was opened in Batticaloa recently. This center constructed at a cost of 150 million rupees. This facility has been provided to Sri Lanka by the World Food Agricultural programme with the assistance of European Union. The activities of the breeding center are conducted


Charges for two of the dengue blood tests have been reduced.


Minister Dr. Rajitha Senaratna says the charges for two blood tests to identify dengue have been reduced. Accordingly, one test has been reduced upto 250 rupees and the other test upto 1000 rupees. The Minister said the government will take measures to regulate these charges under the Private Institute Regulatory Act. All private hospital laboratories and medical institutions have been informed regarding this.


The chairman of Sathosa T M K tennakoon says Open Market policy is the main reason for White sugar price hike.

The chairman of Sathosa T M K tennakoon says Open Market policy is the main reason for White sugar price hike. The current selling price is Rs 102/-. Mr tennakoon also observed that the sugar price in world market has gone down. A metric ton is sold in the range of 200 – 250 dollars. He also said earlier there was a tax of 30 percent imposed on sugar, but it has been reduced to 25 percent later.

Free lottery stalls to be provided for the lottery sellers in the flood affected areas.


Foreign Minister Ravi Karunanayaka says that the National Development Lotteries Board contributes vastly to the nation just because of lottery sellers dedication over the country.  So far, they were provided with lottery stalls with a compensation of 50 percent.  The Minister said in the future stalls will be provided free of charge to the lottery sellers.  He also says he intend to increase the income of lottery sellers.


CWE Chairman says its consumers should not have doubts about the quality of rice it sells to the public.

CWE Chairman T.M.K.B Thennakoon says that the rice imported by his organization is tested for its quality and they are imported under a proper scheme of checking the quality. Addressing a media briefing today Mr. Thennakoon said consumers should never have any doubt about rice sold at CWE stalls.


The Ministry of Plantations will provide compensation for the tea lands and factories damaged due to flood and landslides.


Minister Naveen Dissanayaka says speedy measures will be taken to provide compensation for the tea lands and factories damaged due to flood and landslides.  Information is being receiving regarding the severe damages to the tea plantation and the tea factories.  At a press briefing held today, paying compensation will commence next week after gathering correct information in this regard. Investigations will be conducted through Divisional Secretariat officials as soon as the bad weather pattern returns to  better.

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.

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