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BUSINESS

4.7 percent growth expected in 2017

Sri Lanka expects an economic growth rate of 4.7 percent this year, up from 4.4 percent last year, despite a prolonged drought and devastating floods in many parts of the country, a top official said Friday. Prime Minister Ranil Wickremesinghe making an economic policy statement at the Central Bank was …

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Hambantota port agreement signed

The amended agreement on the Hambantota Port was signed between the Sri Lanka Ports Authority (SLPA) and China Merchant Port Holdings, a short while ago in Colombo. The $1.1 billion deal to lease the southern Hambantota port to China was inked on Saturday, after several months of delay caused by …

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CPC suffered huge loss due to strike, damage

Petroleum Resources Development Minister Arjuna Ranatunga told Parliament yesterday that the Ceylon Petroleum Corporation (CPC) had incurred huge losses suffered and damages owing to the strike by its workers over the past few days. Ranatunga said he would furnish a report in that regard to the House shortly. Participating in …

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Talks to get Lankan betel exempted from Pakistani tax

Discussions are underway to get Sri Lankan betel exports exempted from the import taxes newly-imposed by Pakistan. Primary industries minister Daya Gamage met with acting Pakistani high commissioner Sarfraz Ahmed Khan Sipra at his ministry yesterday (25) and elaborated on the matter. The top Pakistani diplomat said he would raise …

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Fitch Affirms ratings of 10 Sri Lankan finance companies

The global credit rating agency, Fitch Ratings has affirmed the ratings of the ten Sri Lankan finance companies. The rating actions follow Fitch’s periodic review of the large and mid-sized finance companies in Sri Lanka. Fitch has affirmed the ratings of the People’s Leasing & Finance (PLC), Central Finance Company …

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Eran in effort to reassure CSE investors

Once the new Inland Revenue Bill is passed it would create a stable environment for any investor to invest in the Colombo Stock Exchange without fear or doubt, State Minister for Finance Eran Wickramaratne said.   ” We are discussing with all stake holders to iron out differences and to …

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