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BUSINESS

27 m pepper plants to be distributed

Twenty seven million pepper plants will be distributed with the aim of promoting the cultivation of this key export crop, says primary industries minister Daya Gamage. According to him, 18 million of these plants will be distributed to selected cultivators. He was participating in the budget debate on the votes …

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Ample fuel stock for 30 days

The Cabinet of Ministers has decided to award the contract for the construction of a fuel storage tank with a capacity of 15,000 cubic metres for maintaining a fuel stock sufficient for at least 30 days. Co-Cabinet Spokesman Minister Dayasiri Jayasekara stated that the need has been identified to develop …

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Sri Lanka gets US$ dollar1.5 billion FDI this year

The Board of Investment (BOI) yesterday revealed Foreign Direct Investments (FDIs) this year would double to US$ 1.5 billion from last year whilst expressing confidence of a US$ 5 billion figure by 2020. Chairman Dumindra Ratnayake expressing optimism said a host of initiatives were ongoing to boost FDIs with the …

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Year-on-year inflation reaches 8.8%

Issuing the National Consumer Price Index (NCPI), for the month of October 2017, Dr. Amara Satharasinghe, Director General of Census and Statistics says the Year on Year inflation, based on NCPI, has been compiled as 8.8%. The inflation reported for the month of September 2017 was 8.6%. For the month …

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Accelerated programme needed to escape from debt trap

Primary industries minister Daya Gamage stresses the need for an accelerated programme to save the country from the debt trap. He was speaking at a seminar at Suhurupaya auditorium at Battaramulla today (21) to empower plant nursery owners. The minister said time has come to take the country forward through …

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No fuel short-age

There is no fuel short-age anywhere in the country. CID will investigate on persons who spread false remours, Petroleum Resources  Division said.

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Share price rise in banking and finance

Share prices rose in the banking and financial sector and in several blue chip companies, like  JKH,at the Colombo Stock Exchange (CSE) due to a revision of proposed taxes on vehicles and an increase in the  loan to value ratio on certain motor vehicles. This gave the market a lift …

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Meeting Korean company’s senior managers

A senior management team from Posco Daewoo Group has had discussions with deputy minister of petroleum Dr. Anoma Gamage on opportunities in Sri Lanka’s oil and gas sector. Led by senior executive vice president Joo Sibo, the seven-member team from the South Korean company had the meeting at the primary …

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