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Category: Business News

Solar Power and Wind Power replace Coal Power Plant in Sampur – Secretary to the Ministry of Power and Renewable Energy

The Secretary to the Ministry of Power and Renewable Energy stated to the media that President Maithripala Sirisena had held talks with Indian Prime Minister Narendra Modi, and together they had agreed to put a stop to the construction of the project in Sampur. Subsequently, the Indian government had extended willingness for a wind power…

September 26, 2016
Technological city Project Launched at Pitipanna, Homagama

The laying of the foundation stones for the first stage of the technological city planned under the Western Megapolis Project and the opening of the Nano Investigation Laboratory took place under the patronage of Prime Minister Ranil Wickremesinghe at Pitipana, Homagama. Foundation stones were laid for five technological centres including a national science centre, a…

September 25, 2016
Use Payment Cards – Advice by Central Bank of Sri Lanka

Payment and Settlements Department of Central Bank of Sri Lanka advises to general public to use payment card as much as possible; to avoid many problems such as shortage of coins, hassle to use cash, inconvenience to carry cash, not receiving change money, fear of cash being stolen. The Payment cards can be issued only…

August 28, 2016
Sri Lanka Economic Summit 2016 by The Ceylon Chamber of Commerce

Sri Lanka’s economic growth potential is not unknown. Its strategic geographical location, proximity and access to growing markets in Asia, high basic development indicators, and human and environmental assets, put it on a strong footing to be a star performer in Asia. Yet, the ability to transform this clear potential into strong performance seems to…

July 5, 2016
Financial grant for Research & Development projects of Manufacturing Industries by Ministry of Industry & Commerce

It is a necessity to start Research and Development projects for the improvement and upgrading of the industries in Sri Lanka. To encourage the industrialists to start Research and Development projects, the Ministry of Industry and Commerce has started a program to offer financial assistance for the suitable industrialists. Applications are called for research and…

July 4, 2016
Malaysia and Thailand increases visa fees

The Malaysian entry visa fee has been increased by Rs. 900 for Sri Lankans again. The company which handles the Malaysian visa says that this was due to VAT been imposed by the government on them. The Malaysian visa which was earlier issued by the High Commission was around Rs.600 and as soon as it…

July 4, 2016
Colombo Light Rail Transit Project will starts soon

The Cabinet has approved the proposal by the Megapolis Project to introduce a Light Rail Transit (LRT) system for mass transit in the Western Province. While the long term plan developed by the Megapolis team includes an LRT network of approximately 75kms. The initial investment is to cover around 25kms, connecting Fort, Kollupitiya, Bambalapitiya, Borella,…

July 3, 2016
Dr. Indrajit Coomaraswamy Appointed as Governor of Central Bank of Sri Lanka – Brief Introduction about Dr. Indrajit Coomaraswamy

Dr. Indrajit Coomaraswamy has been appointed as Governor of Central Bank of Sri Lanka by President today July 2, 2016. Brief of Dr. Indrajit Coomaraswamy Dr. Indrajit Coomaraswamy born April 3, 1950 hails from one of the country’s most respected Tamil families and the son of the iconic diplomat ‘ Roving Raju’, is one of …

July 2, 2016
Sri Lankan Airline Suspend flights to Paris & Frankfurt

SriLankan Airlines will suspend flights to Frankfurt and Paris. Accordingly, the last flight between Frankfurt and Colombo will be on October 30, and the last flight from Paris to Colombo on November 6. Sri Lankan Airline publish a statement stated that the Government of Sri Lanka has made it clear that it will no longer…

June 28, 2016
Mihin Lanka Losses accumulated Rs. 17 Billion by Now

Finance Ministry stated that the state run airline Mihin Lanka has recorded a loss of Rs. 17 Billion over its 7 years operation. Finance Ministry said it had been given a Rs. 15 Billion letter of comfort in 2015 to continue its operations and the ministry is expected to reduce losses to Rs. 938 million,…

June 28, 2016