Belarus bells ring for Sri Lanka

Published : 12:11 am  December 13, 2014  |  Category: Business  |  Leave a Comment  |  372 views  |  

Great start: Rishad Delists Lanka from off-shore list Removed: 15% Tax of Lankan exporters Bilateral trade $ 14 m   In the aftermath of the successful Lanka-Belarus Trade talks on 09 July in Colombo, comes the first ever trade breakthrough, as revealed on 11 December- and the first beneficiary of Belarus’ is no less than Lankan exporter. “Our Joint Commission talks in July have brought results. I welcome the Government of Belarus’s initiative to remove Sri Lanka from the list of off-shore countries with effect from this November” said Rishad Bathiudeen (Minister of Industry and Commerce of Sri Lanka) on 11 December in Qatar. Minister Bathiudeen was responding to the latest... 


Happy Sri Lankans launches

Published : 12:09 am  December 13, 2014  |  Category: Business  |  Leave a Comment  |  425 views  |  

Happy Sri Lankans, a digital community and collaborative platform which spreads Happiness and connects Sri Lankans in the country and all around the world, was launched recently. The Chief Guest at the launch ceremony was Business Leader Dilith Jayaweera while the Guest of Honour was new generation PR practitioner, PR Wire Managing Director Ashan Kumar and other well-wishers at the Cinnamon Red Hotel in Colombo. Happy Sri Lankans is a brainchild of Manoj Alwis, a Software Engineer and MBA holder. The co-founders of this engagement platform are Kasun Sameera, an IT graduate in the UK and a professional UI designer and Praveen Thanushka, a law student. The site covers various topics ranging from... 


SLASSCOM ‘tech talk’ on Smart data engineering

Published : 12:05 am  December 13, 2014  |  Category: Business  |  Leave a Comment  |  312 views  |  

In today’s information age, identifying and acting on the influx of data that is relevant using appropriate tools and techniques is imperative for organisations to stay ahead. The volume of such data was estimated as 2.5 exabytes (one billion gigabytes) a day in 2012, which has been doubling every 40 months (Harvard Business Review). ‘Big data’ addresses such volumes of data where the velocity can be real time and are extracted from a variety of sources such as mobile phones, online purchases, social networks, GPS, electronic communication and instrumented machinery. SLASSCOM recently conducted a timely ‘tech talk’ which was partnered by Zone 24×7 on ‘Smart data engineering’... 


Finland for greater economic ties with Sri Lanka

Published : 2:51 am  December 12, 2014  |  Category: Business  |  Leave a Comment  |  600 views  |  

  Time for first biz council: Finnish Minister Anttone First Finnish delegation highly upbeat Starting new bilateral efforts: Rishad  Lankan ICTs in first entry to Slush 2015 In a major renewal of its economic cooperation with Sri Lanka, the world’s ICT innovation leader has announced that it is ready to form a joint business council with Sri Lanka for the first time, as revealed on 4 December. Lankan ICT start-ups have received a breakthrough invitation to showcase themselves at one of world’s top-tier start-up events in 2015. “It is time that we establish a Finland-Sri Lanka Business Council for B2B activities. Such a mechanism will kick-start the process. We are also looking... 


CTC rises to No. 3 in Business Today Top 25

Published : 1:24 am  December 11, 2014  |  Category: Business  |  Leave a Comment  |  474 views  |  

Ceylon Tobacco Company PLC (CTC) continues to advance by being ranked third in the Business Today Top 25 for 2014. Holding the seventh position in 2012 and moving to fourth in 2013, the company’s continued success keeps driving it forward amongst the top corporates in the country. Ceylon Tobacco Managing Director and CEO Felicio Ferraz with the award along with Chief Guest Defence Secretary Gotabaya Rajapaksa and Guest of Honour Chief Justice Mohan Peiris   The Business Today Top 25 were selected on the basis of financial performance during the financial year ending 31 December 2013 and 31 March 2014. Corporates were evaluated based on a vast number of indicators including share turnover,... 


Dr. Damitha de Zoysa appointed Actg. Secretary Fisheries

Published : 1:23 am  December 11, 2014  |  Category: Business  |  Leave a Comment  |  446 views  |  

Dr. (Mrs.) Damitha de Zoysa has been appointed as the Acting Secretary to the Ministry of Fisheries and Aquatic Resources in addition to her substantive post of Secretary at the Ministry of Plantation Industries. She took up duties at the Fisheries Ministry yesterday. She has worked in the same capacity from 2010 to 2013 after which she worked as the Secretary in the Plantation Industry Ministry. Dr. (Mrs.) Damitha de Zoysa is a graduate from the University of Peradeniya with a B.A. (Hons.) in Economics (Statistics). She has obtained a M.Sc. in Agricultural Development Economics from the Australian National University in Canberra, Australia. She holds a M.A in Economics and a Ph.D. in Agricultural... 


Global construction chemicals player Chryso expands in Sri Lanka

Published : 1:02 am  December 11, 2014  |  Category: Business  |  Leave a Comment  |  538 views  |  

Chryso, a leading international Construction Chemicals player, has acquired the controlling shareholding off CST (Concrete Solutions Technology Lanka Ltd) – located in Seeduwa, Sri Lanka. This move is part of the international group’s strategy to expand to the emerging markets. CST has been a licensed manufacturer and distributor of Chryso product’s since its inception in 2010. The company emerged quickly as one of the leading admixture players in actively promoting Chryso’s new generation admixtures to the local market, which is an appropriate platform to build further upon and to address the full Chryso offer in Sri Lanka. CST Managing Director Ebrahim Seedat explains, “It is extremely... 


Reconstruction of 25 bridges to commence

Published : 1:02 am  December 11, 2014  |  Category: Business  |  Leave a Comment  |  397 views  |  

The Government has received approval from the cabinet to award the contract for the initial package of a project to reconstruct 25 deteriorated bridges on the national highways with a loan from Kuwait. The government has received a loan amounting to 10 million Kuwaiti Dinars (US$ 36 million) from Kuwait Fund for Arab Economic Development (KFAED) towards the cost of the project to reconstruct 25 bridges in the island. Implementing of this project will help to mitigate traffic congestion in high traffic corridors and traffic accidents while improving the connectivity of the road network, according to the government. The 25 bridges, identified for reconstruction under this project, are either narrow... 


Construction Expo 2015 in June

Published : 1:02 am  December 11, 2014  |  Category: Business  |  Leave a Comment  |  475 views  |  

Construction Expo 2015, Sri Lanka’s most comprehensive exhibition featuring every factor related to the construction and building industry, is scheduled to be held from 12-14 June 2015 at the BMICH. The Ceylon Institute of Builders (CIOB), together with presidential award-winner Lanka Exhibitions & Conference Services, will be organising this mega event for the fourth consecutive year. The CIOB fully endorses this event as one of the premier construction and building materials exhibitions to be staged in Sri Lanka. Construction, Engineering Services, Housing and Common Amenities Minister Wimal Weerawansa speaks at the launch. Others from left are Lanka Exhibition & Conference Services... 


Abans achieves Rs. 18.87 b revenue in 1H

Published : 12:00 am  December 11, 2014  |  Category: Business  |  Leave a Comment  |  227 views  |  

Abans, the country’s largest consumer durable giant, in a statement said it had a strong second quarter showing by its electrical and retail companies in the year, recording growth of 16% over the previous year. The growth amount includes its central air conditioning company and its transport company. Growth was significant in its transport section by 96%, its air conditioning products by 14.64% consumer electronics by 12.75%, IT products by 24.23%, sanitary-ware by 121% and communication products by 23.9%. The company continues to make big advances in consolidating its position in IT products representing Apple, HP, Dell, Lenovo, Toshiba, LG and Panasonic. Hero Motor Cycles, which was started... 


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