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BUSINESS

Govt. in informal talks with Emirates-Eran

The Government is holding informal discussions with Emirates to partner our national carrier SriLankan, State Minister of Finance, Eran Wickramaratne told a media briefing . He said Emirates was one of several airlines with which the government had begun informal discussions for teaming up with Srilankan. “Mind you no airline …

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Sri Lanka to issue US$ 515 million development bonds

Central Bank has announced that it plans to sell US$ 515 million worth of development bonds to foreign and local investors. The Public Debt Department of Central Bank will issue US$ 515 million in Sri Lanka Development Bonds of 1 year 7 months, 3 years, 4 years, and 4 years …

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Sri Lanka considering to relax glyphosate ban

The government is considering relaxing the ban on the glyphosate, a widely-used weedicide, to boost the dwindling tea crop. Sri Lankan President Maithripala Sirisena in 2015 banned the imports of glyphosate as some studies have linked the use of the agrochemical to the Chronic Kidney Disease affecting the Sri Lankan …

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Three-wheeler fare hike from July 10

The National Three-Wheeler Association of Self-Employed Professionals says that the minimum three-wheeler fare for the first kilometer will be increased by Rs 10 with effect from July 10, 2017. The President of the association, Sunil Jayawardena, stated that the prices of three-wheeler spare parts have currently increased and that as …

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Wholesale price of sugar reduced

The wholesale price of a kilogram of sugar has been reduced from Rs 99 to Rs 96 effective from yesterday in the local market, according to the sugar importers’ association. This is in line with global market prices of sugar going down, they said. Secretary of the association, Hemaka Fernando, stated …

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SriLankan says recruited only 126

SriLankan airlines has said it recruited only 126 employees from January 2015 to May 2017 contradicting media reports that it had recruited 1,250. It said the new employees were recruited in consultation with the Public Enterprise Development Ministry and that they included management trainees, cadet pilots, airport service delivery and …

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Increased retail participation lifts CSE

Retail market participation in the Colombo Stock Exchange (CSE) was healthier than on previous days and it helped boost the market to a positive level, market analysts said. Amid these developments both indices, ie, the All Share Price Index went up by  24.19  points and S and P SL20 climbed …

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CBSL to stop making payments for defaced currency notes

The Central Bank of Sri Lanka says that it will not make payments to mutilated, altered or defaced currency notes after December 31, 2017. In a statement issued today, the CBSL said that the mutilation, alteration or defacement of currency notes is an offence under the Monetary Law Act (MLA) …

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Cinnamon’s therapeutic value should be identified – Daya

Minister of primary industries Daya Gamage says the therapeutic value of cinnamon has to be identified in order to make proper commercial use of the spice. He was addressing a seminar at his ministry auditorium today (15) on increasing cinnamon export revenue to one billion dollars. The minister said public …

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Sri Lankan airlines board to be sacked?

Cabinet of ministers Tuesday lambasted the Sri Lankan airlines management for high handed action and Prime Minister Ranil Wickremesinghe reportedly promised to sack the entire board of directors of the national carrier. A senior government source said minister after minister criticised Sri Lankan airlines chairman Ajith Dias,, and demanded that …

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