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Category: Business News

  • Central Bank decided to stop printing 10 rupee notes; replace by 10 Rupees Coins

    Sri Lanka Central Bank decided to stop printing this lower denomination currency replacing it with 10 rupee coins. Most of these notes are disfigured and the Central Bank is now issuing coins to all banks replacing the old notes, a senior official of the Central Bank’s currency management division said. The CB has placed a…

  • Sri Lanka army is into Economic Supportive development of Dairy farming

    The Sri Lankan army, involved in business and economic activity since the May 2009 end of the conflict, is aiming to be one of the country’s largest milk producers. As it expands its contribution to GDP growth – not through salaries, wages and expenditure on military hardware but real economic activity, the army has established…

  • Colombo City and Subs Garbage going to be Solid Waste to Puttalam

    For the first time in Sri Lanka history, the Sri Lanka Railways (SLR) will transport garbage as part of a solid-waste disposal project in which garbage will be collected from Colombo City and the suburbs. The garbage will be disposed at a site in Aruakkalu in Puttalam under a newly formulated Municipal Solid Waste Disposal…

  • Commercial Bank begins renovation of Sri Pada steps – as CSR Activity

    The Commercial Bank has begun work on renovating two sections of the steps to the summit of Sri Pada for the benefit of thousands of pilgrims who make the trek up Sri Lanka’s holy mountain. The Bank’s CSR Trust has allocated substantial funds for the project, which entails repairs to the steps between lamp posts…

  • Government allows import of high-powered motorbikes

    The Government will allow the import of high powered motorcycles -from 450 cc to 1001 cc — upon payment of duty. The decision by the Cabinet of Ministers overturns objections earlier by the Police that they did not possess such high capacity motorcycles to cope with an influx. Ministers have decided to lift the restrictions…

  • New Luxury buses for Arugambay and Passikuda

    The Sri Lanka Transport Board (SLTB) will launch two super luxury bus services along Arugam Bay-Colombo and Pasikuda-Colombo routes from this week. SLTB Chief Operations Superintendent said the bus fare will be Rs. 1,100 per person on the Colombo-Arugam Bay route while the bus fare per person would be Rs. 1,000 on the Colombo-Pasikuda route.…

  • Passport passback service for UK visa in SL

    The British High Commission yesterday announced that it had started passport passback service for applicants in Colombo from August 11. Passport passback is a userpay service that enables customers to retain their passports for the majority of the application processing period. Such an option will be useful for frequent travellers, particularly business visitors, holiday-makers planning…

  • NSBM Green University Town will be open in 2015

    South Asia’s first Green University Town, NSBM will be open for both Sri Lankan and foreign students by the end of 2015. The university town is a great investment as the country can save a large amount of money spent by students for their foreign university degrees. The university, being constructed in 26 acres at…

  • Mihin lanka and Srilankan Airlines be merged: cope

    Srilanka government is looking forward to merged Mihin Lanka and Srilankan Airline to reduce the losses made by borrowing at high interest rates. The COPE minister says Mihin Lanka could be operated as a profit making venture and therefore has the potential to be converted into such a venture.  But at the moment both Mihin…

  • Kandy expressway to go via Pothuhera (Kurunegala)

    Initial plans made for the proposed Kandy Expressway have been changed because hilly areas are an obstruction to the expressway having direct access from Ambepussa to Kandy, According to our amended plans the expressway will start in Kurunegala and move via Pothuhera and Mawathagam to Kandy. The interchange to the expressway would be at Pothuhera,…