You will find the latest news discussions on business and financial news in this section of the news forum
|
|
Business News from Sri Lanka
Sri Lanka targets more electronic exports by 2020
Thursday, 5 November 2009 - 9:47 AM SL Time
|
Sri Lanka could capture 0.1 percent of the global electronic market by 2020 by venturing into electronic components and product manufacture said Prof Kapila Jayasinghe of the Moratuwa University making a presentation on the National Action Plan for the Development of value chain in the electronic sector at the Galle Face Hotel organized by FCCISL (SMED) on Friday.
He said that the electronics industry is growing in the world with an industry contribution worth over USD one trillion and Sri Lanka has identified five major sectors that can be developed under the SME sector.
Full Story
Post Reply To This
|
|
Bright prospects for aerospace business in Sri Lanka - Investor
Wednesday, 4 November 2009 - 9:21 AM SL Time
|
The investment opportunities offered by the Board of Investment (BOI) is impressive and the support for investors from banks is encouraging. The capabilities of Sri Lankan engineers are commendable and the workforce is loyal and competent and this is one of the main reasons to invest in Sri Lanka.
There is a demand for sensors for board aircraft, created by the increased factors of safety, reliability and efficiency, Flinth Industrial Park, Chairman, Rune Flinth told Daily News Business.
Full Story
Post Reply To This
Read Replies ( 1 )
|
|
Making enterprises more productive a challenge
Tuesday, 3 November 2009 - 9:19 AM SL Time
|
Sri Lanka faces the challenge of making its enterprises more productive, dynamic and globally competitive. This is necessary to promote and sustain a more rapid and better distribution process of development.
Therefore, policy initiatives are vital to remove constraints to develop national enterprises for economic gains, a Senior Banking official who works closely with the SME sector told Daily News Business.
SME sector
* Enterprise base - a starting point to improve overall performance
Full Story
Post Reply To This
|
|
JKH records Rs 1.86 b PBT
Friday, 30 October 2009 - 9:23 AM SL Time
|
John Keells Holdings PLC (JKH) recorded Profit Before Tax (PBT) for the six months and quarter ended September 30, 2009, as Rs. 1.86 billion and Rs. 905 million respectively, these being decreases of 38 percent compared to Rs.3.01 billion and 51 percent compared to Rs. 1.86 billion respectively, the company interim report said.
The profits attributable to Equity Holders for the six months, ended September 30, 2009, of Rs. 1.22 billion, reflected a decrease of 34 percent compared to the same period last year and the quarterly results of Rs. 575 million, reflects a decrease of 43 percent compared to the corresponding period in the previous year, said JKH Chairman S.C. Ratnayake.
Full Story
Post Reply To This
Read Replies ( 1 )
|
|
Sri Lanka in sixteenth place
Thursday, 29 October 2009 - 9:11 AM SL Time
|
Sri Lanka has reached the 16th position out of 134 countries in the Gender Gap Index 2009. The country has recorded a population growth of 0.62 percent with a total population of 20.01 million, while overall population sex ratio recorded 0.96 percent.
Sri Lanka and the Phillipines remained distinctive for being the only Asian countries among the top 20 for the fourth consecutive year.
The country is among the top twenty countries in the Gender Gap Population Index 2009.
Full Story
Post Reply To This
|
|
Sri Lankan gems to shine in China
Wednesday, 28 October 2009 - 8:51 AM SL Time
|
Thirty four gem and jewellery companies will participate in trade fairs in China in November this year.
This is the first time a large number of gem and jewellery companies have decided to participate in international trade fairs in China, a senior official of the National Gem and Jewellery Authority told Daily News Business.
The first trade fair, the China International Jewellery Fair, Beijing will be held from November 5 - 9 with the participation of 18 Gem and Jewellery companies from Sri Lanka. The second trade fair, the China Gold, Jewellery and Gem Fair in Shanghai will be held from November 26 to 29 with the participation of 16 gem and jewellery companies from Sri Lanka.
Full Story
Post Reply To This
|
|
Saudi Arabia keen to invest in Sri Lanka
Tuesday, 27 October 2009 - 8:58 AM SL Time
|
Saudi Arabia is keen to invest in Sri Lanka s agro-based industries with a holistic approach to develop the sector. The investors would not only focus on improving production, but also have plans to buy back the produce facilitating market access for the farmer community, International Agriculture and Food Investment Co. Developer Council Member Riyadh H. Al Zamil told Daily News Business.
The Saudi Arabian Government has a new initiative to encourage the private sector to assist food security in the country and to look for potential investment opportunities in the agricultural sector.
Full Story
Post Reply To This
|
|
Sri Lankan tourism has tremendous potential
Monday, 26 October 2009 - 9:10 AM SL Time
|
The Sri Lankan tourism industry has tremendous potential to grow further with the dawn of peace. The opening up of the North and the East has brought positive hopes to the Sri Lankan tourism as two-thirds of the coastline, which was formerly under the control of terrorists, has been liberated making it accessible to tourists.
`It is essential for Sri Lanka to promote tourism with professionally designed awareness programs to penetrate the market. During the past three decades, the travel advisories of several western countries gave a negative picture of the country and since peace has been established, it is important to spread awareness among the travellers to the effect that the country is now free of terror and safe to travel,` a Senior Travel Consultant, Rob Murrer told Daily News Business.
Full Story
Post Reply To This
|
|
Tremendous growth in Jaffna
Friday, 23 October 2009 - 9:57 AM SL Time
|
It is important to have balanced economic activities everywhere in the country with the dawn of peace. The recent visit to Jaffna was a success and the business community there was pleased as they had a business forum to express their views and ideas. There will be tremendous growth in Jaffna with the developments being implemented, Central Bank Governor Ajith Nivard Cabraal told Daily News Business.
Full Story
Post Reply To This
Read Replies ( 2 )
|
|
Sri Lanka able to attract more
Thursday, 22 October 2009 - 3:51 PM SL Time
|
Despite the economic turmoil Sri Lanka will be able to attract more foreign direct investments in the second half of this year.
Compared to last year Sri Lanka will have improved opportunities in attracting foreign direct investments compared to countries such as China and India, Board of Investment (BOI) Deputy Director General (Investment) A.M.C. Kulasekera told Daily News Business.
Sri Lanka received the highest foreign direct investments of US $ 888.94 million last year. A few developed countries in the world faced a 3-7 percent decline in foreign direct investment due to the economic recession and Sri Lanka also had to face the effects of it. The foreign direct investment is expected to increase in the second half of this year and it will be 70-75 percent of the achievement last year, he said.
Full Story
Post Reply To This
|
|
SriLankan to increase flights
Wednesday, 21 October 2009 - 10:05 AM SL Time
|
SriLankan Airlines will increase flights this winter season to a dozen cities throughout Europe, the Middle East, the Subcontinent, and the Far East, based on its projection that passenger numbers will definitely increase following the dawn of peace in Sri Lanka.
SriLankan Head of Worldwide Sales Mohamed Fazeel, said: Forward booking for the winter season is very encouraging and we are providing more flights to destinations where we experience high market growth. These increases in flights will be effective from October 25, and our new Milan service will be launched on December 16. The country s tourism industry has witnessed steady growth since its 30-year war ended in May, with tourists flocking to the island despite the global economic downturn which has discouraged air travel.
Full Story
Post Reply To This
Read Replies ( 1 )
|
|
President appoints high powered team: Accelerated development in Jaffna
Wednesday, 21 October 2009 - 9:57 AM SL Time
|
An 11 member high powered team comprising Ministers and Parliamentarians has been appointed by President Mahinda Rajapaksa to accelerate the development and resettlement process in the Jaffna district.
They will be directly in charge of the supervision of development and resettlement work in 15 Divisional Secretariat Divisions in the District.
Team members and their respective Divisional Secretariat Divisions
Full Story
Post Reply To This
|
|
MIT faces exciting future
Tuesday, 20 October 2009 - 9:58 AM SL Time
|
MillenniumIT (MIT) looks set for an exciting future as part of the London Stock Exchange Group. We intend to leverage the Group s strong global franchise to further develop our global exchange technology sales business continuing to support our existing customers as well as expanding the company in to other markets and investing for the future, said MillenniumIT Chief Executive Officer, Tony Weerasinghe.
The London Stock Exchange Group has completed its acquisition of MillenniumIT at an investment of US $ 30 million. The transaction will provide the Group with a new, high performance trading platform with an agile, efficient, in-house IT development capability and give MillenniumIT the backing it needs to enable it to develop further its global exchange technology business.
Full Story
Post Reply To This
Read Replies ( 1 )
|
|
ODEL to go global soon
Monday, 19 October 2009 - 10:08 AM SL Time
|
ODEL is to expand its global presence soon.
Speaking to Daily News Business, and ODEL official said. `We have expanded our business to the international arena also. At present we have a franchise agent in
the Maldives and we have a good market in the Maldives. In the future we hope to expand ODEL worldwide,` he said.
ODEL opened its newest branch at Mount Lavinia last week.
ODEL CEO Otara Gunawardena said, `Opening a branch at Mount Lavinia is a milestone for ODEL and this is our eighth branch. It is the start of new phase of expansion and the first of several new stores planned to open islandwide in the immediate future. Our next branch will be opened at Moratuwa in the first week of December this year,` she said.
Full Story
Post Reply To This
Read Replies ( 5 )
|
|
|
