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BUSINESS

EU pledges Rs. 5.4 billion to Sri Lanka

The European Union, aiming to make tangible improvements in the lives of some of Sri Lanka’s poorest people, has pledged Rs. 5.4 billion (EUR 29.7 million) to reduce poverty in Uva and Central Provinces by improving both living conditions and food security. The funds will be provided through five civil …

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Daya studies Israel’s agri-technoloyg

A delegation led by primary industries minister Daya Gamage undertook a study of Israel’s use of modern technology in agriculture when they toured that country recently. They paid special attention to micro-irrigation as it makes considerable, productive and appropriate contributions to the development of agriculture. Israel is a country that …

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SL Tea export earnings top US$ 1 bn mark

Sri Lanka’s tea export earnings has topped US$ 1 billion mark by the end of August 2017, up by 20% from a year earlier, according to tea broker Asia Siyaka Commodities. Customs data analyzed by Asia Siyaka Research confirms that the country earned $ 1.002 billion during the period from …

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Central Expressway agreement to be signed with Taisai

Highways Minister Lakshman Kiriella said today the agreement to hand over the construction work on the Central Expressway would be signed with the Japanese Company, Taisai next week. He told a news conference that the Cabinet had approved the decision to do so. The minister said there had been no …

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Economy grows by 4.0 percent – DCS

Sri Lanka’s rate of the GDP has been estimated by the Department of Census and Statistics (DCS) as at 4.0 percent. Contributions made by the four major components of the economy; Agriculture, Industry, Services and Taxes less subsidies on products have contributed to the GDP at current price have been …

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Hayleys purchases 61 per cent stake in SINGER

Hayleys PLC, controlled by business magnate Dhammika Perera, purchased a 61.73 percent stake in SINGER (Sri Lanka) PLC yesterday. Hayleys acquired 231,864,362 shares of SINGER Sri Lanka at the price of Rs. 47.00 per share. This was a crossing that took place at the Colombo Stock Exchange (CSE) taking the …

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EU praises SL Govt for improving human, labour rights

The  European Union yesterday praised the Sri Lankan  Government for the progress made in advancing human rights, labour and environmental standards, but stressed that there were still many areas where reform had yet to be delivered.   A team of senior officials from Brussels have been in the country for …

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CSE and SEC to host next Invest Sri Lanka Forum in New York

The “Invest Sri Lanka Investor Forum” organized by the Colombo Stock Exchange (CSE) and the Securities and Exchange Commission of Sri Lanka (SEC) in association with CSE Member Firms and leading Listed Companies will be held on 16th October 2017 at the Sofitel New York. The Forum is organized with …

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Domestic LPG price going up – Malik

Apropos the news item headlined “Cabinet rejects Malik’s proposal to increase gas prices” on page 2 of the Sept 13 edition, Minister Malik Samarawickrema’s Office has sent us the following statement: “The Cost of Living Committee, chaired by Minister Samarawickrama, which includes Ministers, Mangala Samaraweera, Rishad Bathiudeen, Duminda Disanayake, P.Harrison …

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Govt to export cannabis

The Government is to launch its first official cannabis plantation to supply the traditional medicine market and export to the United States, the health minister said Wednesday.   Rajitha Senaratne said the 100-acre (40-hectare) cannabis farm, which could produce more than 25 tonnes a year and would be under military protection, …

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