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Last updateTue, 17 Dec 2019 9am

Business News

Dr. Harsha De Silva said that the government’s intention to promote an Indian Ocean order

Deputy Foreign Affairs Minister Dr. Harsha De Silva said that the government’s intention to promote an Indian Ocean order with rules based navigation freedom and overfly across the Indian ocean, will influence Sri Lanka to provide maritime security services and coordination in the region.


Price of eye lenses is expected to be reduced next week


Price of eye lenses is expected to be reduced next week and the National Drug Regulatory Board has initiated a program to implement the policy decision. According to Health Minister Dr. Rajitha Senarathne an eye lens imported from India for 6,000 Rupees is sold in Sri Lanka at a price of 25,000 Rupees – 30,000 Rupees. He said that there is an eye lens racket is Sri Lanka. Meanwhile, a program to provide eye lenses free of charge to the patients coming for eye surgeries at government hospitals is also being implanted. The Health Ministry under the directions of Health Minister has also taken steps to import one hundred thousand eye lenses. Under this program, the minister has also taken steps to provide financial grants to the directors of Hospitals to buy eye lenses locally if any shortage takes place. The ministry has also issued the circular in this regard.

Coca Cola is ready to develop Sri Lanka as a production hub in the region.

The President and the Executive Vice President of Coca Cola Company Asia Pacific Group met Finance Minister Ravi Karunanayake in Colombo at the weekend.


The agreements pertaining to the Hambantota investment zone will be signed on Saturday.


Co-Cabinet spokesman Minister Rajitha Senaratne says pertaining to the Hambantota investment zone will be signed on Saturday. The cabinet has given already given approval to a BOI agreement under 99 year lease with a Chinese company.


Foundation stone for the Volkswagen factory in Kuliyapitiya will be laid this afternoon by the president.


Proving a pledge given by the unison government, a Volkswagen motor car manufacturing factory will be opened in Sri Lanka. It will be established in 50 acre land plot at Labuyaya in Kuliyapitiya. Laying of foundation stone for the factory will be held under the patronage of President Maitripala Sirisena this evening. This factory was an idea of Prime Minister Ranil Wickremasinghe. Volkswagen AG’s local joint venture partner is Senok Automobiles and the total investment will be 26.5 million dollars. Out of this 21.5 million dollars will be invested in fixed assets within a period of 24 months, the Board of Investment said. The company will initially assemble vehicles in the 1000cc to 2000cc category and these vehicles will be diesel powered and include passenger cars, Sport Utility Vehicles, Multi Utility Vehicles or commercial vehicles. The agreement to assemble cars was signed by BOI Chairman Upul Jayasuriya and Senok Automombiles Chairman Noel Selvanayagam in April 2015. The uniqueness of the project in addition to bringing investor confidence for Sri Lanka and FDI’s it will also bring in advanced German automobile technology into the country and create job opportunities for the local youth.” Volkswagen, the second largest car maker in the world had strived since 2008 to start up a business to manufacture cars in Sri Lanka for export, but did not succeed for various reasons. But the efforts made by the relevant authorities have become fruitful during the present government’s rule.

The World Bank and Asian Development Bank will support new development projects this year.

Minister Rauff Hakeem says special attention will be focused to alleviate poverty in Sri Lanka in the New Year. Priority will be given to stop wastage and corruption.


The 2,500 salary increase will be given to the private sector employees as well.


Minister W.D.J Senevirathne says the 2,500 salary increase approved by the budget will be given to the private sector employees as well. The government has instructed the private employers to grant this allowance to their employees. If any employer fails to do this stern legal action will be taken against them. The Ministry of Labour has already appointed a committee to look in to this matter. It has already received about 400 complains regarding such private institutions.

Sri Lanka’s economy has shown a 4.1 percent growth in the 3rd quarter of this year.

The Central Bank says the Sri Lankan economy is estimated to have grown by 4.1 per cent during the third quarter of 2016 compared to the growth of 5.6 per cent in the corresponding period of the previous year. Services activities grew by 4.7 per cent, while Industry activities grew notably by 6.8 per cent during this period.


Providing of fertilizer subsidy to farmers for the Maha season to conclude today

Additional Secretary to the Ministry of Agriculture Vijitha Chandra Piyathilleka says releasing of money under the fertilizer subsidy programme to the farmers for the cultivation activities of Maha Season will conclude today. Money had been deposited in bank accounts of farmers of 18 districts by yesterday.


13,500 factories which cause air pollution have been identified.


Air Resources Management Unit Central Environmental Authority says that it has identified 13,500 factories which cause air pollution. Director of the Unit L.P Jayasuriya says that specifications will be arranged for those factories to reduce the harmful gas emissions. The local government bodies have been given the authority of issue the relevant environmental certificates and licenses for the small and medium scale industrialists. 

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