The Executive Director of Institute of Policy Studies of Sri Lanka (IPS) Dr. Saman Kelegama last week highlighted that while the government has introduced many programs to train prospective migrant workers in specialized vocations with the intention of increasing the percentage of skilled workers, there is limited focus on post-migration phase in Sri Lanka.
In a bid to promote trade in the electronic and the apparels sectors, the visiting delegates from China’s Zhongshan Province and Sri Lanka inked four agreements at a business matchmaking session held in Colombo last week. The four companies which signed agreements from Sri Lanka were Singer Sri Lanka PLC (two agreements), Capital Apparels Pvt. Ltd and WILMAX Enterprises.
Sri Lanka Telecom PLC (SLT) on Friday announced it recorded Rs.31.39bn revenue during the first six months of the year with 8% growth compared to the same period of the previous year. In a statement to the media, SLT said the group operating cost was managed at Rs. 21.86 bn despite a charge of Rs.673 mn to the operating cost,
The Monetary Board of the Central Bank of Sri Lanka (CB) on Friday decided to maintain its key monetary policy rates on hold for the seventh straight month in August 2014 as advocated by the International Monetary Fund (IMF) in its recent staff review. Accordingly, the monetary authority kept the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate
Net Profit of Sri Lanka’s Cargills Group has declined by a sharp 60% to Rs. 649.6 million for the year ended 31st March 2014 from Rs. 1.6 billion a year ago, financials showed. Acknowledging the performance was below expectation, the Chairman of the group said it was largely due to the change in fair value of investment property, which was substantial in the previous year
Union Bank of Colombo PLC (UBC) last week announced that Cayman Island’s incorporated firm Culture Financial Holdings Ltd., an affiliate of TPG had agreed to acquire a 70% stake in the bank through a private placement. According to the agreement TPG will invest up to approximately US$117 million in UBC through a combination of primary and secondary shares, representing up to 70%
The sixth edition of the Jaffna International Trade Fair (JITF) to be held in January next year, would be a good opportunity for investors to explore the vast potential that remained largely untapped in the peninsula, organizers said last week. The sixth edition which would run from January 23 to 25, 2015 at the Durayappah stadium ,will offer greater opportunities for entrepreneurs and
The battle between sustainability and economic growth is an ugly one. On the sustainability side, there are real issues like climate change and preserving and replenishing earth’s limited resources, sustaining the delicate balance of nature and of other living beings. On the economic side, there is unemployment, poverty, hunger and an ever more power hungry lifestyle.
The TKS Group announced that it had completed the integration of two of its finance sector holdings, TKS Finance Limited and Asian Finance Limited. The merger was initiated with the approval of the Boards of Directors and shareholders of both companies and the Central Bank of Sri Lanka (CBSL) in June this year. This is one of the first mergers to have been completed under
The Board of Directors of the above Nation Lanka Finance PLC informed that as per the agreement reached with the GEM Global Yield Fund LLC SCS, a company incorporated under the laws of Luxembourg, has remitted to the Company via SIA, the First Tranche of Investment based on the formula agreed upon, amounting to Rs.8.3 million representing 1.2 million Ordinary Shares
Sri Lanka will feature a rare international confab this November and many top global fishery experts and exporters will gather together in one place for the first time in South Asia, as announced on August 12. “First ever International Ornamental Fish Conference to be held in Sri Lanka is taking place this November with EDB’s support. We thank Malaysia based
The National Youth Corps (NYC), together with the BPO Certification Institute (BCI), last week announced the launch of the Institute of Business Process Outsourcing (IBPO), Sri Lanka’s first fully-fledged training institute for Business Process Outsourcing. The IBPO will offer several internationally recognized certification programs for empowering Sri Lankan youth with employability in global professions of Customer Interaction,
Colombo bourse end its weekly activities in the negative territory on profit taking where core index shed some of the hefty returns gained during the week. ASI slipped by 29.24 index points or 0.42% to close at 6,943.85 while 20-scrip S&P SL index declined by 7.79 index points or 0.20% to end at 3,820.98. Price declines in counters such as Ceylon Tobacco
Enterprising Fairs India Private Limited, a B2B Exhibition company from India, together with The Plastics and Rubber Institute of Sri Lanka (PRISL), inaugurated the second edition of SRILANKA PLAST - a Plastics Expo and the 1st Edition of RUBEXPO - a Rubber Expo and SIMEX - Sri Lanka International Manufacturing Expo at the BMICH last week. The expos were held from August 14 to16, 2014.
Mihin Lanka, Sri Lanka’s national low-cost carrier says it is proud of the excellent progress made by its third batch of cadets inducted in July 2013. The airline fulfilled its commitment to clear all 11 Trainee First Officers (TFOs) to fly as fully-fledged pilots within a mere 12 months of their training as planned. Mihin Lanka is now preparing to recruit its fourth
The local Importers and Exporters can now have access to a book, which consists of all the regulations governing the country’s Imports and Exports.The new book, published under the title of “Sri Lanka Trade Regulations - Index of Regulations relating to Imports and Exports” was compiled by Verite Research, Sri Lanka and promoted by the Ceylon Chamber of Commerce.
The Asia Micro Finance Forum, which is the most sought-after event of the Micro Finance Industry of Asia, successfully concluded in Shanghai on August 7, 2014, with over 500 delegates from more than 40 countries in Asia, Africa, Europe and USA taking part.
Cool & Cool - a UAE based Brand is a manufacturer of skin care, personal care, hygiene products, is sponsoring the current Test series between Sri Lanka and Pakistan thus named as “Cool & Cool Cup”. Cool & Cool, a market leader in GCC countries in Skin and Personal Care products with a range of world-class products is represented in Sri Lanka by Icon Brands (Pvt) Ltd.
Mount Lavinia Hotel, Sri Lanka’s most celebrated colonial mansion with a history spanning over 200 years was the recent recipient of multiple awards from the prestigious national BestWeb.lk 2014 Competition.
The Mount Lavinia Hotel site (www.mountlaviniahotel.lk) was adjudged the ‘BestWeb.lk 2014 Overall Gold Winner’ and also received the Gold award for the ‘Best Travel and Tourism Website’.
To the drought affected people in the Polonnaruwa District it was as if a miracle had happened 10, 2014, when a convoy of a 40 foot container, 9 large lorries and a bus load of over 50,000 liters of pure drinking water arrived from Colombo with love and care from Abans.This caring and meaningful CSR project of Abans was painstakingly organized by ABS Gardner