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Two top WTO officials, among them the Chief of Trade Agreements, are in town for a high-level trade information session organised by the Department of Commerce in Colombo today.

Tuesday, 10 October 2017 06:00

WB wants Govt. progress over 4 key risks

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The World Bank, one of the biggest supporters of Sri Lanka, has called for fast-tracking of reforms, better governance and a balance Budget if the country is to ensure sustained growth and development.

Monday, 09 October 2017 05:59

Arjuna playing with fuel?

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Petroleum Resources Development Minister opposes price hikes after LIOC announces urgent need
LIOC and CPC losing Rs. 17 per litre on petrol and Rs. 14 per litre on diesel due to global spikes
Fuel prices not revised since drastic reduction in January 2015
Ranatunga says relief to people important and implies CPC profitability secondary
CPC suffers operational loss of Rs. 3.8 billion in first four months of 2017, year-to-date figure tipped to be much higher
CB says financial losses made by CPC adversely affect the government budget and ultimately borne by taxpayers
Govt. has issued Treasury guarantees worth $ 1.6 billion as collateral to BOC, People’s Bank against the borrowings of CPC
Govt. tells IMF automatic fuel price adjustments by March 2018

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Bavarian Motors Ltd, a company primarily involved in the importation and sale of luxury BMW vehicles, has instituted Intellectual Property action in the Commercial High Court against BMW (Bayerische Motoren Werke Aktiengesellschaft) in Munich, Germany alleging that the latter was engaged in or attempting to engage in unfair competition against the former.

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UN’s specialized agency for industrial development working to usher Inclusive and sustainable industrialization framework unveiled its way forward on industry framework of Sustainable Development Goals (SDGs) on Sri Lanka for the first time. The visiting New Delhi based UNIDO Regional Representative Dr Rene Van Berkel addressing the Lankan public elaborated on background, opportunities and challenges for business from the SDGs and provide practical examples from the work of the United Nations Industrial Development Organization in South and South-East Asia on advancing inclusive and sustainable industrial development. Dr Berkel also visited Sri Lanka in July and met the Minister of Industry and Commerce Rishad Bathiudeen on 25 July.

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Sri lankan Airlines has submitted a restructuring plan to the government following the president’s directive to its board of directors to reduce losses and show successful results before September this year. 

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Lanka Ashok Leyland has stepped in to boost the construction industry in Sri Lanka. The company has already identified the need of trucks for the transportation of loose material (such as sand, gravel, or demolition waste) for construction purposes. With the current boom in constriction industry with many high rise buildings are to come up in Colombo and suburbs, Lanka Ashok Leyland is now gearing up to provide tippers for local construction engineering firms .

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The International Monetary Fund (IMF), has received the ASSESS level of EDGE (Economic Dividends for Gender Equality) Certification. EDGE is the leading business certification for gender equality in the workplace, worldwide. This certification recognizes the IMF’s commitment to and progress in monitoring, benchmarking, and achieving workplace gender equality. Receiving the ASSESS certification means the Fund has already achieved landmark progress in ensuring that diversity and equality are an integral part of its work and values.

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Business leader Dhammika Perera on Wednesday emphasised that without proper connectivity Sri Lanka could not achieve the four million tourist arrivals target.

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On a night which saw the most esteemed figures in Sri Lankan society gather under one roof, Aban Pestonjee, the Chairperson and Founder of the Abans Group of Companies, was named Sri Lanka’s Entrepreneur of the Year 2017 at the Derana Sri Lankan of the Year Awards hosted last week at the Colombo Hilton.

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