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Last updateSun, 21 Apr 2019 11am

Business News

A three year plan to develop Trincomalee Harbour.

The government says a three year plan is devised to develop Trincomalee Harbour. Minister Mahinda Samarasinghe stated that around 10,000 acres of land has been identified inside the harbour premises to develop in different sectors. A special gazette notification will be published in near future in this regard. Research activities will also be carried out under this project.


Sri Lanka needs reforms to seek new opportunities and a new growth model

World Banks’ Senior Country Economist for Sri Lanka and the Maldives, Ralph van Doorn said Sri Lanka needs reforms to seek new opportunities and a new growth model, to increase and sustain growth. It is also necessary to have a mechanism to create jobs and reduce poverty in the middle term. “It is important to monitor the macro economy by providing technical assistance and advice to the government on topics related to macroeconomics, fiscal policy and public debt management. The best time for reforms is now,” he said at a forum in Colombo last week.

People's Bank has been named as one of the best banks in the world.

The People's Bank has become one of the best banks in the world. According to the reports published in "the Banker 2017" the people's bank is named as one of the best banks out of the thousand best banks of the World.  The magazine is an annual magazine published by United kingdom.

 The Banker Magazine  publishes the best banks list  with the support  of strenuous survey process. The magazine used to published the performances of the banks in the world since 1970.  The ratings to the banks are given based ono the performance, through put , management policies , customer care  and profit earning ability. The people's bank has a total assets estimated at 1.4 trillion rupees , and it has 735 branches island wide.

Travel goods from Sri Lanka to enjoy duty free entry to the United States.

Export of travel goods from Sri Lanka will enjoy duty free entry to the United States following a decision by the United States administration to approve the inclusion of travel goods from all GSP beneficiary countries, including Sri Lanka, in the expanded US General System of Preferences (GSP) scheme on July 1, 2017.


A Measures to increase the potato production in Sri Lanka

The agricultural secretariat has taken effective measures to increase the potato production in southern province. Accordingly, the secretariat plans to promote milk potatoes in 50 acres of land in the province. 100 cultivation families will benefit from this project.

The tourism industry should attract young blood

The tourism industry which is currently facing a shortage of labour will look at a novel approach to attract young blood to the industry. The Hotel Association of Sri Lanka President Sanath Ukwatte said that it is expected to encourage more youth to join the industry and also find ways to attract more females.

The industry will be projected as a safe place to work, with equal opportunities for promotions and an attractive remuneration is paid. The industry will consider youth at skill level to train them to managerial level and make the hospitality industry a vibrant sector in the economy.

The President participates Sri Lanka and Bangladesh business forum.


Today is the final day of the President Maithripala Sirisena's state visit to Bangladesh. Presidential media director Chamuditha Samarawickrema said, that President took part in an investment Forum held in Rudison Blue Hotel in Dhaka. About 100 investors from both Sri Lanka and Bangladesh took part in the forum. Sri Lankan and Bangladesh chambers of Commerce were also represented.


The first multi-purpose sea fish breeding center opened in Batticaloa.


The first multi-purpose sea fish breeding center was opened in Batticaloa recently. This center constructed at a cost of 150 million rupees. This facility has been provided to Sri Lanka by the World Food Agricultural programme with the assistance of European Union. The activities of the breeding center are conducted


Charges for two of the dengue blood tests have been reduced.


Minister Dr. Rajitha Senaratna says the charges for two blood tests to identify dengue have been reduced. Accordingly, one test has been reduced upto 250 rupees and the other test upto 1000 rupees. The Minister said the government will take measures to regulate these charges under the Private Institute Regulatory Act. All private hospital laboratories and medical institutions have been informed regarding this.


The chairman of Sathosa T M K tennakoon says Open Market policy is the main reason for White sugar price hike.

The chairman of Sathosa T M K tennakoon says Open Market policy is the main reason for White sugar price hike. The current selling price is Rs 102/-. Mr tennakoon also observed that the sugar price in world market has gone down. A metric ton is sold in the range of 200 – 250 dollars. He also said earlier there was a tax of 30 percent imposed on sugar, but it has been reduced to 25 percent later.

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