Business News

Friday, 23 December 2016 18:59

Christmas dawns early for Lankan Coops

The cooperative sector of Sri Lanka tasted sweet success for their silent efforts on December 20 when they were given their long awaited pay hike-with that, the sector also received its first ever human resource management manual.

Friday, 23 December 2016 18:55

58 MPs leasing vehicle bonanza suspended

The supply of vehicles to 58 MPs under an operational lease facility paying Rs.700,000 a month to a private company has been suspended on a directive issued by the President, a senior Minister said.

Sri Lanka’s anti-graft commission solicits the support of the private sector to tackle the wide spread corruption that impedes the economic development of the country.

Sri Lanka’s cash strapped national carrier – Sri Lankan Airlines has already incurred a loss of over US$15.9 million due to the grounding of two A330 aircraft as a result of the delay in acquiring those two planes by Pakistan International Airlines (PIA) under a an agreements reached in August this year.

Reuters: Shares fell for an eighth straight session on Thursday, closing at their lowest in more than eight months, in typical holiday-thinned trade as investors stayed away ahead of the Christmas weekend.

Sri Lanka’s main gateway, the Bandaranaike International Airport (BIA) is bracing for the key runway revamp with a $ 41 million investment, though the move will see partial shutdown cancelling nearly 1,000 flights for three months.

The recent unprecedented spike in taxation on tobacco is estimated to have caused a near Rs. 15 billion loss in revenue for the Government in the fourth quarter of this year and a staggering Rs. 25 billion in 2017, according to industry analysts.

Wednesday, 21 December 2016 08:44

Ravi K predicts stable rupee in 2017

Reuters: Finance Minister Ravi Karunanayake said on Tuesday the rupee currency, which is under downward pressure, will recover and be steady next year with expected foreign inflows.

Tuesday, 20 December 2016 10:07

Tourism Fest opens today

The much-anticipated second edition of Tourism Fest 2016 will be inaugurated at the Independence Arcade in Colombo this evening.

Tuesday, 20 December 2016 01:08

Sri Lanka to import 10,000 tonnes of rice soon

Sri Lanka is to import 10,000 tonnes of rice and purchase 20,000 M-tonnes of paddy (both White rice and Nadu) from the Paddy Marketing Board (PMB) immediately to ease the shortage of rice which is anticptaed during the new year festive season as result of prevailing drought.

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