21 September 2018
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US restores GSP to Sri Lanka

garmentThe US President signed into law HR 1295 on June 29, 2015 re-authorizing the US GSP Programme until 31 December 2017 providing preferential duty free entry into US market for nearly 5000 products from 122 designated beneficiary countries and territories, including Sri Lanka. The Embassy of Sri Lanka in Washington DC was an active member of the Alliance of GSP countries which joined other US stakeholders in advocating early renewal of the US GSP Programme. Read more...

SEC role needs to change radically to support economic growth

thilakThe common interest of all Sri Lankans after 8 January is to support a growing economy that produces jobs, improves our standard of living and protects the value of our savings. This means that all of the SEC’s actions must be taken with an eye toward promoting the capital formation that is necessary to sustain economic growth and creating jobs rather than enforcing outdated regulation to destroy business formation or existing businesses. Therefore the expectation of the current SEC would surely be to regulate the market to ensure that Sri Lanka attracts more FDI and supports the Government to create wealth for all Sri Lankans big or small. Read more...

"Limited Huawei P8 smartphones will be available in Sri Lanka" - Henry Liu

huwaviPre-ordering begins with premium product availability in selected outlets

Huawei announced that its newest flagship smartphone, Huawei P8 will be only available in limited stocks in Sri Lanka and therefore has requested its consumers to pre-book it to avoid disappointment. Furthermore the device will also be available with selected authorized Huawei retail partners in the country. Read more...

Expat worker concession

foreing employementIt is a rather well known fact that Overseas employment constitutes the largest source of foreign exchange for Sri Lanka, which constituted USD 6.4 Billion (LKR 827.7 Billion) in the year 2013. An estimates 1.7 Million Sri Lankan are employed abroad impacting nearly 25% of the population. (Source – Web site of the Ministry of Foreign Employment of Sri Lanka).It does bear mention that these figures are quite impressive in stature, forming a solid source of much needed foreign currency earnings for the country. In short, the workers abroad fulfill a mammoth need of the nation, thereby playing a role in in stabilizing the economy and fueling the growth of the nation to a great extent. Read more...

‘The Steuart by Citrus’ unveiled

stu 1The Steuart by Citrus, a luxurious business boutique hotel in the heart of Colombo’s commercial hub,was declared open on Friday at a grand ceremony held under the auspices of Minister of Tourism and Sports Navin Dissanayakeamidst a large gathering of dignitaries, well-wishers and hospitality industry personalities. Read more...

Sir Richard invited to visit Sri Lanka in September

baron dineshPrime Minister Ranil Wickremesinghe a few days back had extended an invitation to flamboyant British business leader and philanthropist Richard Branson to visit Sri Lanka and explore prospects for  investments and promoting tourism. Read more...

Viluxur Tourism opts for Luxury Softlogic's King Long Buses

viluxSoftlogic Automobiles target rising tourism sector and transportation industry

Softlogic Automobiles (Pvt) Ltd, a subsidiary of Softlogic Holdings, sole distributor and marketer of the all-new King Long range of passenger transport vehicles handed over two brand new luxury vehicles to Viluxur Tourism (Pvt) Ltd. at an event organized at The Kingsbury Hotel Colombo. The event was graced by Mr. Kevin Chang - Director Business Development Softlogic Holdings PLC, Mr. Shafraz Fazley - Managing Director and Mr. Cammy Gunasekara - Director of Viluxur Tourism (Pvt) Ltd and Mr. Shehan de Tissera – Head of Operations of Softlogic Automobiles (Pvt) Ltd. Read more...

In numbers: How Nestle India will destroy 27,000 tonnes of Maggi

maggi noodlesNestle will destroy 400 million packets of its hugely popular Maggi noodles, following a ban imposed by India's food safety regulator. Read more...

F.D.A. Sets 2018 Deadline to Rid Foods of Trans Fats

trans fatThe Food and Drug Administration on Tuesday gave the food industry three years to eliminate artery-clogging artificial trans fats from the food supply, a long-awaited step that capped years of effort by consumer groups and is expected to save thousands of lives a year. Read more...

Sri Lanka's economic growth steady at 6.4% in 1Q 2015

bb1ade91767ecf8cf22ff735ba4Sri Lanka's economy grew at an annual rate of 6.4 percent during the first quarter of this year, same rate as the last quarter of 2014, the Census and Statistics Department said on Monday. Read more...

CPC Thrown Into Crisis

cpcThe Ministry of Finance and Planning has failed to pay back Rs. 309 billion owed by the Treasury to the Ceylon Petroleum Corporation (CPC), which has created a grave financial impasse affecting the day-to-day running of the Corporation, Power and Energy Ministry sources revealed to the media.

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