Sri Lanka has seen 1877 new business registrations under the country’s Ministry of Industries and Commerce during the year 2011.
The Ministry of Industry and Commerce says, the new business registrations are aimed at starting ventures covering the areas of Chemical, Petroleum, Rubber & Plastics, Textiles & Apparels.
Apart from that, registrations have also taken place to [...]
January 2, 2012 1:35 PM | Posted in
Economy |
Read More »
Sri Lanka’s December inflation has risen by 4.9%, compared to 6.8% recorded, a year ago.
However, the December inflation is marginally up compared to 4.7% recorded during the month of November 2011.
The annual average inflation during the year 2011 has gone up to 6.7% compared to 6.2% recorded during the year 2010.
December 30, 2011 4:22 PM | Posted in
Economy |
Read More »
Sri Lanka’s Monetary Authority has directed media institutions not to publish advertisements of individuals or institutions who solicit deposits from public without authority to do so.
Central Bank says, publishing advertisements of persons who solicit deposits without authority is a punishable offence under the Finance Business Act.
CBSL in a letter sent to media institutions says, the [...]
December 21, 2011 10:56 AM | Posted in
Economy |
Read More »
Sri Lanka’s Central Bank has promoted four of its Staff Class Grade IV Officers to the post of Assistant Governor’s with effect from 1st January 2012.
Among the ones promoted ranks, the Banks Chief Economist K. D. Ranasinghe, Director of Public Debt Department Sepala Ratnayake, Mrs. R. Dheerasinghe and A. Kamalasiri.
The Monetary Authority says, these promotions [...]
December 20, 2011 4:59 PM | Posted in
Economy |
Read More »
Sri Lanka’s Central Bank has decided to keep its key policy rates unchanged amidst a moderating inflation, deceleration in the growth of credit obtained by the private sector and a widely expected global economic slowdown.
The Bank in its December policy review says, the inflation which stood at 4.9% during November 2011 was backed by supply [...]
December 16, 2011 5:44 PM | Posted in
Economy |
Read More »
Sri Lanka today started construction work to build the Colombo Port’s South Container Terminal, which once completed will add 2.4 million TEU capacity to the Port.
President Mahinda Rajapaksa and Chinese Ambassador in Sri Lanka Yang Xiu Ping were among the participants who took part in today’s ground breaking ceremony.
The first phase of the US$ 500 [...]
December 16, 2011 3:29 PM | Posted in
Economy |
Read More »
U.S. Customs and Border Protection has announced procedures for claiming duty refunds for exports made to USA under the GSP program.
US Embassy in Colombo says, there will be an April 18, 2012, deadline for filing claims for refunds of duties paid on GSP – eligible merchandise entered or withdrawn from warehouses for consumption during the [...]
December 14, 2011 5:38 PM | Posted in
Economy |
Read More »
Sri Lanka’s Central Bank has relaxed regulations imposed, covering foreign investments in corporate debentures of local firms and foreign borrowing by the local firms.
Accordingly, the bank has increased the current limits on borrowing applicable to local firms to US$ 50 million from the present US$ 20 million and removed the ceiling imposed on the interest [...]
December 13, 2011 12:23 PM | Posted in
Economy |
Read More »
Sri Lanka is planning to recommence its defunct Elephant Pass Saltern located in the Northern Province of the country.
The Cabinet of Ministers has given approval to establish a state owned entity to restart the Saltern, which became defunct during the three decade conflict that came to an end in 2009.
Authorities believe the move will help [...]
December 9, 2011 1:48 PM | Posted in
Economy |
Read More »
Sri Lankan Government has approved a move by a Pakistani firm to start a Cement Grinding Plant at Hambantota Port.
Accordingly, the Cabinet of Ministers has approved the proposal forwarded by Pakistan’s Thatta Cement Company.
Apart from the approval to start the cement manufacturing plant, the Cabinet of Ministers in an earlier occasion has approved the establishment [...]
December 1, 2011 2:19 PM | Posted in
Economy |
Read More »
