Sri Lanka has decided to make it mandatory for local Cinnamon exporters to adhere to specified quality standards when exporting cinnamon.
This move, the government says is aimed at preventing the export of low quality cinnamon and enhancing the commodity’s production in the country.
Government believes this will also help sustain the livelihood of [...]
June 14, 2013 2:42 AM | Posted in
Economy |
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Sri Lanka has sold Rs. 8 billion and Rs. 5 billion worth rupee bonds, which the maturity period of each running up to 20 and 30 years, respectively.
The 20 year bonds have been sold at a yield of 12.15-pct while the 30 year bonds have been sold at a rate of 12.50-pct.
The 20 year bonds [...]
June 14, 2013 2:42 AM | Posted in
Economy |
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Sri Lanka will conduct an agricultural exhibition in Kilinocchi during the month of July, once the de-facto administrative capital of the defeated LTTE, a US proscribed terror group.
Organized by the Agri Business Council of Sri Lanka, the two day exhibition will display a large number of agricultural products; inputs, new technologies and services for the [...]
June 14, 2013 2:42 AM | Posted in
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Sri Lanka’s NDB Bank has decided to raise US$ 250 million by issuing Dollar Bonds, announced a stock market disclosure issued by the Bank.
The Bank says, this is going in line with the Government’s Budget proposal presented for the year 2013.
The disclosure did not specify other details such as the period the money is going [...]
June 14, 2013 2:42 AM | Posted in
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Sri Lanka has captured a 2-pct market share out of the global ornamental fish trade, thus helping the country to earn US$ 7.5 million during the year 2012, announced the Ministry of Industry and Commerce.
The Ministry in a statement issued says, Japan, USA, UK, Germany and France are the biggest clients of the Island’s ornamental [...]
June 14, 2013 2:42 AM | Posted in
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Sri Lanka has relaxed foreign exchange rules by introducing several measures, such as the permission to issue US$ 5,000 for travel purposes instead of current US$ 2,500, allowing an individual to carry a migration allowance US$ 150,000 and also allowing the opening and maintaining of bank accounts abroad by dual citizens, among several other measures.
Central [...]
June 14, 2013 2:42 AM | Posted in
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Sri Lanka says concessional funding support to the country is fast depleting as its economy has graduated to a Middle Income status, with the per capita income exceeding well beyond US$ 1000.
The Ministry of Finance says, Scandinavian and European countries no longer provide outright grants and concessional loans to Sri Lanka, while similar support from [...]
June 14, 2013 2:42 AM | Posted in
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Sri Lanka has appointed Bandula Egodage, A Nestle’s executive as the Chairman of the Export Development Board.
Egodage currently works as the Vice President of Corporate Affairs and Communications of Nestle’s Lanka PLC.
Ministry of Industry and Commerce in a statement issued says, the EDB Chairman has comprehensive experience in rural development, exports, public affairs and government [...]
June 14, 2013 2:42 AM | Posted in
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Sri Lanka Economic Summit which is due to be held in July has allocated a session to discuss the strategies local corporate firms should adopt to enhance competitiveness through higher productivity.
According to the Ceylon Chamber of Commerce, the discussion on the said topic will be conducted during the 3rd session of the upcoming summit, which [...]
June 14, 2013 2:42 AM | Posted in
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Sri Lanka’s Central Bank expects the easing of monetary policy in recent past will help boost credit to the private sector thus contributing to a higher level of economic activity over the coming months.
The Bank which has decided to maintain its key policy rates at the present level for the month of June says the [...]
June 14, 2013 2:42 AM | Posted in
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