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Last updateSat, 26 May 2018 8pm

Business News

Sathosa signs MoU with the USAID

Lanka Sathosa signed a Memorandum of Understanding with the US Agency for International Development yesterday, launching an agency funded project titled: 'YouLead', designed to help ensure the retail network achieves its ambitious targets.

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Facebook’s global program: ‘Boost Your Business’ now available in Sri Lanka.

Facebook’s global program: ‘Boost Your Business’ is now available for the youth and entrepreneurs of Sri Lanka.
Facebook has partnered with the Information and Communication Technology Agency of Sri Lanka to train 10,000 small business owners across the country, by the end of 2018. In the first phase, the programmed will cover Colombo, Galle, Kandy and Jaffna.
The inaugural ‘Boost Your Business’ workshop to be organized in Colombo tomorrow, will orient, teach and train entrepreneurs on the effective use of Facebook to grow and monetize their businesses online.
‘Boost Your Business’ will complement the 'SMART Social Circles initiative' by the Information and Communication Technology Agency to promote digital literacy, and foster ethical and responsible use of social media.

Sufficient stocks of dates to be made available during the Ramazan Fasting Period.


Upon a request made by Minister of Muslim Religious Affairs: M H A Haleem and State Minister of National Unity and Reconciliation: A H M Fowzie, Prime Minister Ranil Wickramasignhe has instructed for dates to be made sufficiently available during the Ramazan Fasting Period.

Dates are distributed at mosques during the Ramazan season. Last year steps were taken to distribute 150 tonnes of dates gifted by Saudi Arabia, while Sathosa distributed another 150 tonnes. Since the dates harvest in Saudi Arabia is less this year, instructions have been given to the chairman of Sathosa and to officials of the Finance Ministry to get down sufficient stocks of dates from the Middle East. The premier has invited Cargills and other private sector distribution lines to support in the distribution of dates.

A price control to take effect for Cancer Drugs, within the next few days

 

A price control is to take effect for Cancer drugs within the next few days. Minister of Health Dr. Rajitha Senarathna says, a price control will also be enforced on certain charges at private hospitals. Speaking to the Subharathi Discussion Programme aired over the SLBC he said, although the ceiling for cancer treatment per patient was 1.5 million rupees, now that limitation has been removed. He pointed out, cancer related deaths were mainly not due to the disease, but due to the unaffordability of drugs.

Also joining in the discussion, Director of the Apeksha Hospital: Dr Wilfred Kumarasiri said, although it was needed to bring many documents when cancer patients needed to obtain vaccines, now such requirements have been relaxed. He pointed out, now treatment is provided without any financial restrictions. He added, 1.6 billion rupees was spent for vaccines during the past few years. Last year the cost was 2.5 billion rupees

The World Rubber Summit to be held in Colombo

 

The World Rubber Summit 2018 organized by the International Rubber Study Group will be held in Colombo on the 7th and the 8th of May, with Minister of Plantation Industries: Navin Dissanayaka as the Chief Guest.

The theme for World Rubber Summit 2018 will be 'Breaking Barriers towards Sustainable Growth'.

Secretary to the Ministry of Plantation Industries J A Ranjith says, The World Rubber Summit is an unique and exclusive opportunity for the global rubber industry to discuss the current challenges that the industry is facing, and also the future opportunities that might arise from the trends that are transforming the industry by the use of innovative solutions to improve rubber quality and productivity.

The Asian development Bank has expedited its development programmes in Sri Lanka.

Asia and the Pacific has made important progress in expanding and deepening its financial systems, but must make further progress to improve financial inclusion using new financial technology , according to participants at a high-level Asian Development Bank (ADB) seminar during its 51st Annual Meeting in Manila, Philippines. This seminar was co-hosted by ADB, the International Monetary Fund , and Bangko Sentral ng Pilipinas.

“Governments in the region can improve financial inclusion by broadening access to basic digital infrastructure and providing an enabling environment for innovators and entrepreneurs,” ADB President Mr. Takehiko Nakao said. “Policymakers should also consider ways to improve regulations, including protecting consumers against cybercrimes and fraud, while striking the right balance between innovation and financial stability.”

There is a 3.1 percent growth in the workforce last year.

The Central Bank says there is a 3.1 percent growth in the workforce in Sri Lanka last year, when compared to the growth in the previous year. The population over 15 years is considered as the active contributors to the national economy. The amount was 8.3 million in 2016. It has increased up to 8.56 million last year.

The need to diversify exports and concentrate on diverse production sectors emphasized, in order to strengthen the rupee.

Since the rise of the US dollar against other currencies is a global trend, it needs to be debated in an economic perspective and not with the intention of gaining petty political mileage. Dr. Aminda Methsila Perera of the Faulty of Management at the University of Wayamba says, the government at this moment should identify this trend and device long term policies to meet with this situation. Speaking to the SLBC he pointed out, as it is necessary to strengthen the rupee, attention needs to be focused on diversifying exports and concentrating on diverse production sectors.

The decision to make meters compulsory for the three wheelers has been postponed until August this year

 

Chairman of the national council for road safety Dr. Sisira Kodagoda says the decision to make meters are compulsory for the three wheelers those transport passenger from today has been postponed until August this year. At a press briefing held in Colombo today, he said that this decision has been taken after considering the requests made by three wheel owners association. Many of them have agreed to fix meters and to issues receipts to passengers. Chairman of the All Island Three Wheel Drivers Association said that there should be a mechanism to regulate the Three Wheel Drivers. The government should give a concession to the three wheel owners to purchase meters

The government says, chemical fertilizers will be provided to farmers without any delay or shortage during the upcoming Maha season.

Minister Duminda Dissanayake assures that the  chemical fertilizer required for farmers during the upcoming maha season will be made available without any shortage or delay. A bag of 50 kilo gram of fertilizer will be sold at a subsidized price of 500 rupees through Agrarian services centres. A 50 KG bag for another crops will be sold at 1500 rupees.  Addressing the media briefing at his ministry today, the minister said, adequate amounts of fertilizer has been stored  in the warehouses island-wide. The minister requests the farmers and the public to inform any mal-practice or irregularities in distributing fertilizer via hot line: 0113 03 66 66

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