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Last updateSun, 21 Apr 2019 11am

Business News

SATHOSA is ready to provide essential goods at the reduced prices for the upcoming festive season.

Chairman of Lanka SATHOSA  Mohammed Rizwan Hamid  says that SATHOSA outlets are now ready to  cater to the needs of the customers for the  upcoming festive season. There are 400 outlets throughout the island at present. SATHOSA expects to open 15 more outlets before the Sinhala Tamil New year.SATHOSA Chairman further said that,


The President has ordered to stop fragmentation of coconut lands in the northwestern province..

President Maithripala Sirisena has instructed the relevant officials and institutions to stop fragmentation of all coconut cultivations in the north western province with immediate effect. The President gave this instructions at the special di9strict coordination committee meeting held in Kurunegala district secretariat today. The President said that the north western provincial council, relevant Pradesheeya Sabhas and the coconut development board are responsible to take action in this connection. Using coconut cultivation to construct houses has led to increase the prices of coconut. The President said therefore all should focus attention to this important matter.

MVIVO presents the future of Sri Lankan homes

MVIVO (Pvt) Ltd, a building construction company introduced its newest concept of constructing homes in Sri Lanka in Colombo yesterday. The launch now bring their expertise, innovation, and knowledge to the shores of Sri Lanka. Speaking during the launch, Kjell Van Doran, CEO of MVIVO (Pvt) Ltd., stated that their belief at MVIVO is that homes need to change with the times, they need to evolve.


Minister Mahinda Amaraweera says the activities of selected local government representatives will be closely monitored.

Minister of Fishing and Aquatic Resources Development Minister Mahinda Amaraweera says the activities of selected local government representatives will be closely monitored. The Minister made these remarks at a function held at Angunukolapalessa Pahala Yaaya area, yesterday. Addressing the gathering the Minister further said the UPFA was able to grab a reasonable amount of votes and LG representatives during the recently concluded LG polls. That is an achievement. The Minister expressed confidence that the UPFA will build its platform in future based on this achievement.

The British Council announces the launch of a project to improve the quality of English Language Education in the country.

The British Council in Sri Lanka has announced the launch of a new project to improve the quality of English Language Education in the country. Named as The Teacher Education for English Project, it will target a large number of English Language teachers and trainee teachers, through a 14 month project, which will end in April next year. The target audience in the first stage will be one thousand trainee teachers enrolled to National Colleges of Education in Kandy, Kalutara and Jaffna.

The US expresses its eagerness to expand trade with Sri Lanka.

The United States has expressed its eagerness to expand open, fair and reciprocal trade with Sri Lanka. Director of the International Trade Administration Advocacy Centre at US Department of Commerce, Stephen Renna, recently met with US companies in Colombo, to discuss opportunities to increase US exports to Sri Lanka. US Ambassador in Colombo, Atul Keshap, emphasized that American companies are some of the most dependable business partners found anywhere in the world.

Many new projects will be implemented under the Mahaweli Development Program by the year 2020.

Minister Mahinda Amaraweera says that many new projects amounting to more than 100 Billion rupees will be implemented under the Mahaweli Development Program by the year 2020. Participating in to the progress reviews meeting of the Ministry, he added that 2,400 small tanks will be renovated under the project. Water will be provided for the thousands of acres of paddy lands.

Ebony Holdings launches new corporate website for enhanced customer satisfaction.

One of Sri Lanka's leading clothing suppliers, Ebony Holding recently launched their newly revamped corporate website at an official ceremony held in Colombo. The revamped website has been designed to offer a seamless online experience to customers and dealers when browsing through the company's multiple brands and offerings.


Attention has been focused upon ways of providing young entrepreneurs with loans without the necessity to meet collateral requirements.

At a recently held meeting of the CEOs of the commercial banks operating in Sri Lanka, Governor of the Central Bank, Dr Indrajit Kumaraswamy drew attention to the difficulties potential young entrepreneurs who undergo vocational training face, when obtaining loans from formal banking institutions to commence or improve their businesses. This is due to their inability to meet collateral requirements.


Special commodity levy on potatoes increased

The Government has decided to increase the Import Levy on potatoes with the prime purpose of protecting the local cultivator. The special trade levy of 'one rupee' imposed on a kilogramme of imported potatoes has been increased up to '30 rupees', with effect from midnight yesterday.

The local potato harvest is now reaching the market. As such the import levy on potatoes has been increased with the aim of granting relief to the local farmer. The Ministry of Finance said this tax revision will be effective until the 31st of next month.

Local News