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Monday, 17 May 2021

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Importers face non tariff and invisible barriers

2021-05-17 07:09:00

Sri Lankan importers are facing non–tariff and invincible barriers placed by the government on bringing down several essential and semi essential items into the country by indirectly restricting banking facilities and introducing a licence scheme...


Bilateral and multilateral grants to Sri Lanka decline last year

2021-05-17 07:09:00

Foreign grants received from bilateral and multilateral sources declined to Rs. 5.3 billion in 2020 from Rs. 7.9 billion in 2019...


EDB supports exporters to continue operations during travel restrictions

2021-05-17 07:08:00

The Sri Lanka Export Development Board (EDB) has made arrangements to facilitate export-oriented industries to continue their operations during the lock down of specific areas in the country and inter-provincial travel restrictions subject to stringent health regulations...


Sri Lanka Banks face headwinds in Covid-19 third wave

2021-05-17 07:04:00

Sri Lanka’s Banks are now facing headwinds in returning to normalcy levels following the third wave Covid -19 impact which cannot be over come any out of the box thinking or efforts, banking sector experts warned...


ICRA LANKA UPGRADES ASIA ASSET FINANCE RATINGS

2021-05-16 06:39:00

Asia Asset Finance PLC (AAFP) has gained stable outlook with resilience overcoming growth headwinds in Covid-19 environment, leading Credit Rating Agency ICRA Lanka Limited affirmed...


‘SriLankan Engineering’ converts Airbus A320 to a cargo freighter for FitsAir

2021-05-16 06:38:00

SriLankan Engineering the engineering and maintenance arm of SriLankan Airlines, has entered into a strategic collaboration with UK-based Avensis Aviation to offer Maintenance (MRO) services for the embodiment of Passenger-to-Freighter (PTF) conversions for Airbus A320 and A330 aircraft...


JICA grants US$285 million to Strengthen Covid-19 response in Sri Lanka

2021-05-16 06:36:00

Japan International Cooperation Agency (JICA) has stepped into extend its assistance to strengthen Covod-19 response activities in Sri Lanka despite its displeasure on the government for arbitrary scraping of $1.5 billion Japan-funded light rail system last year...


Hambantota Port RO-RO transshipment gains momentum

2021-05-16 06:34:00

With the strategy of linking with China’s Belt and Road Initiative (BRI), Hambantota International Port is now emerging as as a (RO-RO) Roll-on/roll-off cargo ships transshipment hub has been highly criticised for its..


World Bank provides US$ 80.5 million to strengthen SL’s vaccination system

2021-05-15 08:43:00

The Government of Sri Lanka and the World Bank on Thursday (May 13) signed a USD 80.5 million additional financing to help Sri Lanka access and distribute COVID-19 vaccines and to strengthen the country’s vaccination system and pandemic response...


Cameras and GPS Systems for Luxury Busses become non starter

2021-05-15 08:42:00

The maintenance of Cameras and GPS Systems for Luxury Busses has become a burden to the government due to irregularity and and inefficiency of official authorities and the lack of man power, a government audit report observed...


Over 2.6 kilos of vegetables and fruits allowed perishing at Dambulla market

2021-05-15 08:40:00

Disgruntled Farmers have been pushed in to fire from the prying pan for the second time with thee third wave of Covid-19 hitting the country in a devastating impact deadlier than the previous attacks...


Exporters’ express concern on conversion of 25 % of dollar earnings to rupees

2021-05-15 08:38:00

Exporters have now been grappling to convert 25 percent of their earnings into Sri Lanka Rupees claiming that this policy has increased costs and place more pressure on an already struggling sector...


Litro to Introduce pipe-borne LPG supply to households

2021-05-14 07:47:00

As a measure of upscaling the LPG availability in Sri Lanka, Litro Gas Lanka will be introducing pipe-borne LPG supply to households and consumers in Sri Lanka, giving them access to world class energy solutions...


Bus Ticket Machine Deal tainted with malpractices

2021-05-14 07:45:00

Purchase of Bus Ticket Machines by the the Sri Lanka Transport Board has been marred by mal practices and irregularities, Government Audi inspection report revealed...


Lanka IOC 4Q profits soar on lower oil prices

2021-05-14 07:44:00

Relatively low global oil prices and the resurgence seen in economic activities in the first three months of 2021 helped Lanka IOC PLC to deliver a profit in the period ended in March..


SL Army’s entry into Driving Licenses printing saves Rs 219 Mn

2021-05-14 07:44:00

Since the Sri Lanka Army took over the printing of drivers’ licenses from January 1 this year, the Army has been able to save nearly Rs. 219 million revenue for the Government within four months period, official sources said...


BRS Monthly Report - April

2021-05-13 07:24:00

BRS Monthly Report - April..


Softlogic Finance resorts to Rs. 2.2 billion Rights Issue

2021-05-13 07:23:00

Softlogic Finance Plc (SFL) has announced plans to raise Rs. 2.24 billion via a Rights Issue to boost its capital...


SL to obtain USD 200 M from ADB to renovate rural and urban roads

2021-05-13 07:21:00

Sri Lanka’s rural and national road network of 374O km of roads are to be renovated and maintained using Asian Development Bank financial facility of US$ 200 million...


Digital vaccine identity card (ID) on the cards in the near future

2021-05-13 07:18:00

Government will be introducing a digital vaccine identity card for people who are being inoculated in the near future to ensure the smooth implementation of the vaccine programme...


Leading edible oil importer passed away after aflatoxin allegation

2021-05-12 07:29:00

Nandana Jayasinghe, a leading edible oil (Coconut oil) importer, refinery owner and the owner of Edirisinghe Edible Oil Pvt Ltd, aged 58 has passed away after a brief illness,...


Government agrees to lift the palm oil import ban

2021-05-11 07:37:00

The Government has decided to further ease Palm oil restrictions subject to the condition of allowing importers to bring down inflatoxin free and high qukty palm oil from countries like Malaysia and Indonesia, Trade Minister Bandula Gunawadena said..


Western Region Megapolis project to overcome major hurdles

2021-05-11 07:35:00

Sri Lanka’s ambitious US$40 billion Western Region Megapolis Planning Project (WRMPP) launched by the previous regime with the aim of re-developing the Colombo City and suburbs is now facing major obstacles in realising its 15-year vision, an official progress review report has revealed...


LAUGFS Lubricants lab becomes the first testing lab with ISO/IEC accreditation

2021-05-11 07:35:00

The LAUGFS Lubricants state-of-the-art laboratory located in the Malwatta BOI Zone has recently been accredited with the ISO/IEC 17025:2017 certification...


South Korea provides US$ 500 million soft loan to Sri Lanka

2021-05-11 07:33:00

South Korea will be providing a soft loan facility of US$ 500 million in accordance with the agreement signed between the Finance Ministry and the Eximbank of Korea...


EPF to be revamped to a part-pension fund

2021-05-10 07:39:00

Private sector employees are to be given pension rights under a new move by the government to amend the Employment Provident Fund Act...


Government to import urgent LPG stocks if necessary

2021-05-10 07:37:00

The Government will strive to maintain Liquified Petroleum (LP) gas prices at current levels – despite demands to increase prices – and provide funds to the state-owned importer to import stocks if there is a shortage...


China to link up with Sri Lanka to manufacture COVID19 Vaccines

2021-05-10 07:36:00

In an unprecedented diplomatic move, China is to link up with Sri Lanka to manufacture Covid-19 vaccines in Sri Lanka, Front Line Minister of the present government disclosed...


Swarnamahal Finance depositors receive increased compensation

2021-05-10 07:34:00

Disgrunteled depositors of now defunct Swarnamahal Financial Services PLC (SFSP) will begin receiving the increased compensation of Rs.500,000 each from Monday 10 via Peoples Bank branches countrywide, Central Bank announced...


LHI bags Gold for promoting Sri Lanka professional service exports

2021-05-09 07:33:00

LHI, as a premier service provider of best engineering solutions to the global market place has bagged Gold at the recently-concluded 28th annual NCE Export Awards at Shangri-La Hotel, Colombo...