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Friday, 23 September 2016 06:36

Rupee ends firmer on bank dollar sales

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Reuters: The rupee ended higher on Thursday as dollar sales by a foreign bank helped currency forwards outpace importer dollar demand, but the market expects the rupee to be under downward pressure due to a rise in demand for imports, dealers said.

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“Sri Lanka has done well to expand its trade from historical commodities to value-added products.  
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Finance Minster Ravi Karunanayake has assured that there will be no revision whatsoever of taxes imposed on vehicles in the upcoming the 2017 budget proposals to be presented in parliament on November 10.
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In a bid to find a strategic investor to resurrect the loss-making national carrier, it has been revealed that the government is evaluating around 18 bids received so far for becoming a prospective partner to manage Sri Lankan Airlines.
Thursday, 22 September 2016 10:50

Lanka Graphite Ltd takes over Lanka Mineral Sands

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Lanka Graphite Ltd (ASX:LGR) formerly  known in Sri Lanka as MRL Corporation Ltd is to take over the management of Lanka Mineral Sands Limited which is a company fully owned by the Government under  key restructuring initiative of the present administration.
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The Government’s biggest development project, the Western Province Megapolis, will commence on Thursday with the first phase of the Techno City, which is comprised of five technology institutes covering 25 acres of land that will eventually be expanded to a 1000-acre zone.

Wednesday, 21 September 2016 09:11

Ravi pledges prosperity Budget

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Amended vehicle taxes, savings from development projects and growth plans were the focus of Finance Minister Ravi Karunanayake yesterday

Tuesday, 20 September 2016 22:39

ICTA to create 800 SMART Social Circles

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Information and Communication Technology Agency of Sri Lanka.(ICTA ) has launched  the SMART Social Circle 
Tuesday, 20 September 2016 09:41

LOLC in massive Maldives push

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LOLC Group partners CMEC for Chinese giant’s first-ever JV in third party country
Creates 3 new islands in Maldives in pioneering concept
To build one 5-star and two 4-star resorts with 470 rooms
Acquires 2 more islands for 60-room 5-star and 120-room 4-star resorts
LOLC Group marked its first overseas leisure venture in the Maldives and also broke new ground in Sri Lanka-China relations last week, announcing its North Malé Resort Development project in partnership with State-owned China Machinery Engineering Corporation (CMEC).

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Public Utilities Commission of Sri Lanka (PUCSL), the electricity regulator has approved the Ceylon Electricity Board’s Least Cost Long Term Generation Expansion Plan (LCLTGEP) 2015 -2034 in order to address expected power shortages in the country.

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