Home / BUSINESS (page 14)

BUSINESS

Allianz to acquire Janashakthi General Insurance in Sri Lanka

Allianz, the global financial services leader, today announced that it has entered into an agreement with Janashakthi Insurance PLC (“JINS”) to acquire 100% of its subsidiary Janashakthi General Insurance Limited (“JGIL”) for LKR 16.4 billion (EUR 85.9 million). The transaction is subject to regulatory approval and is expected to complete …

Read More »

Tea export earnings rise 26 percent in 2017

Sri Lanka customs data analyzed by Siyaka Research confirms that the country earned a highest ever Rs. 233.3 billion from tea exports in 2017. A massive 26 percent or Rs. 48 billion more than 2016 figure of Rs.184 billion. The previous rupee record was Rs. 212 billion in 2014 earned …

Read More »

Sri Lanka received highest ever FDI in 2017 – BOI

The Foreign Direct Investment (FDI) into Sri Lanka has grown to over USD 1.63 billion in 2017, doubling the USD 802 million achieved in the previous year. According to the Board of Investment (BOI) this is the highest ever FDI surpassing the USD 1.61 billion in 2014, with solid growth …

Read More »

SriLankan CEO steps down

Controversial SriLankan Airlines CEO Suren Ratwatte was asked to step down following a Board meeting on Thursday with Manoj Gunawardene tipped to be the hot favourite to take over, the Daily FT reported quoting top Government officials. The move comes amidst plans to restructure the troubled national carrier, with its …

Read More »

Mangala admits slow reforms

Finance Minister Mangala Samaraweera has admitted that their “good governance” administration was slow to deliver on promised reforms, but noted the climate of fear had ended since the fall of the Rajapaksa regime.   Samaraweera said those who voted overwhelmingly for change at the January 8, 2015 elections may be …

Read More »

Jaffna International Trade Fair inaugurated

The ninth edition of Jaffna International Trade Fair was inaugurated today. Minister Daya Gamage, state minister Vijayakala Maheswaran, north chief minister C.V. Vigneswaran, state officials and Indian diplomatic officials attended. The trade fair is taking place at the Jaffna public stadium. Speaking at its inauguration, minister Gamage said this would …

Read More »

Sri Lankan rupee firmer on bank, exporter dollar sales

The Sri Lankan rupee ended firmer on Thursday, further moving away from a record low hit earlier this week, as banks and exporters sold dollars, dealers said. The spot rupee ended at 153.70/80 per dollar, compared with Wednesday’s close of 153.75/85. On Tuesday, the rupee hit a record intraday low …

Read More »

SL’s first modern FTA with Singapore inked

A Free Trade Agreement (FTA) between Singapore and Sri Lanka, which contains one of the most liberal rules of origin, giving greater access to each others markets , was signed in Colombo yesterday, following a comparatively short period of negotiations.   This is in addition to the Avoidance of Double …

Read More »