Jaffna-Chunnakam Northern Power plant reopens

Published : 12:30 am  April 8, 2015  |  Category: Business  |  2 Comments  |  371 views  |  

Court of Appeal issues order in favour of Northern Power Plant; employees return to work   Northern Power Plant in Chunnakam, Jaffna Re-opening of Chunnakam Power Plant by Registrar of Mallakam Magistrate Courts     With the order of the indefinite closure and eviction of employees issued by the Mallakam Magistrate on 27 January against the Northern Power Plant in Chunnakam preventing its employees from reporting to work being vacated by the Court of Appeal last week; the power plant reopened for essential maintenance and the employees returned to work on Monday, the company announced. “We brought to the notice of the Court of Appeal that the order issued by the Mallakam Magistrate... 


Finance Minister assures Indian investors

Published : 12:00 am  April 8, 2015  |  Category: Business  |  1 Comment  |  287 views  |  

  Finance Minister Ravi Karunanayake assured current and future Indian investors a favourable climate, addressing the second AGM of the Indian CEO Forum (ICF) recently at the Taj Samudra Hotel Karunanayake was Chief Guest at the event while High Commissioner of India Y.K. Sinha was the Guest of Honour. A large number of invitees including senior Government officials, bankers and diplomats were present. While acknowledging the fact that recently some companies were adversely impacted, the current Government will ensure that by July 2015 the environment for investment will improve dramatically,” he asserted. The ICF was formed in July 2013 in recognition of the significant growth of Indian... 


Baurs Chairman visits birthplace of founder Alfred Baur

Published : 1:21 am  April 7, 2015  |  Category: Business  |  1 Comment  |  433 views  |  

On occasion of the 150th birth anniversary of Baurs Founder Alfred Baur, Baurs Chairman Thomas Daetwyler visited his birthplace in Andelfingen in the Canton of Zurich, where Alfred Baur was born in 1865. In recognition of his service to the community, a road in the village was named after Alfred Baur. In 1923 the castle of Andelfingen (built in 1780) was handed over to Alfred Baur and subsequently donated to the village under the condition that the park would be available to the public and the character of the castle maintained.                                                Read More →


“Pakistan our second largest SAARC partner”: Rishad

Published : 12:47 am  April 7, 2015  |  Category: Business  |  Leave a Comment  |  274 views  |  

Bilateral trade at $ 354 m Trade surged post-FTA: Rishad   As President Maithripala Sirisena’s three-day official tour kicked off on 5 April, a member of the delegation, Industry and Commerce Minister Rishad Bathiudeen stated that Pakistan was Sri Lanka’s second largest trade partner. “After India, Pakistan is Sri Lanka’s second largest trade partner in SAARC. The visit of President Sirisena helps boost our bilateral trade,” said Bathiudeen on Sunday in Colombo, making a brief pre-departure comment to his officials. “Bilateral trade between Sri Lanka and Pakistan grew significantly after 2005’s PSFTA. In 2014, our total trade stood at $ 354 m,” he added. The Pakistan Sri Lanka... 


UN Assistant SG and UNDP’s Asia-Pacific Regional Director calls on Ravi K

Published : 12:25 am  April 7, 2015  |  Category: Business  |  Leave a Comment  |  200 views  |  

Engaging in a six-day visit to Sri Lanka, UN Development Chief for Asia and UN Assistant Secretary-General Haoliang Xu met with Minister of Finance Ravi Karunanayake this morning. At the meeting Xu and the Minister discussed opportunities to strengthen cooperation with the UN system, moving forward, and exploring prospects of government cost sharing.  Read More →


UNDP’s Asia-Pacific Regional Director meets Harsha

Published : 12:24 am  April 7, 2015  |  Category: Business  |  Leave a Comment  |  231 views  |  

Visiting UN Assistant Secretary-General and UNDP’s Regional Director Haoliang Xu held discussions with Deputy Minister of Policy Planning and Economic Affairs Dr. Harsha de Silva yesterday. The discussions revolved around potential areas of new support to the agencies under the new Ministry. At the meeting Xu informed de Silva that the UN and UNDP in particular would be ready to extend support to developing country specific development indicators that would contribute to the post-2015 development agenda.  Read More →


Transformative CSR can sustainably align private, public sector biz with national priorities

Published : 12:01 am  April 7, 2015  |  Category: Business  |  Leave a Comment  |  302 views  |  

The development of a country’s economy is dependent on the successful collaboration between its Government and private sector entities. The Government has direct access to people and resources, while companies have capital and expertise. Therefore, a very high impact can be achieved if synergistic partnerships are formed and business strategies and processes are aligned through transformational thinking. The founder of CSR International and Director of think tank Kaleidoscope Futures, Dr. Wayne Visser, will be in Sri Lanka to deliver a series of keynote speeches on transformative CSR from 22-24 April. He is here at the invitation of CSR Sri Lanka. Sri Lanka spends over Rs. 4 billion annually... 


Panel discussion today on ‘Foreign Ownership and Leasing of Land by Foreigners –Ideas for Reform’

Published : 12:00 am  April 6, 2015  |  Category: Business  |  1 Comment  |  530 views  |  

UTO EduConsult will conduct a programon ‘Foreign Ownership and Leasing of Land by Foreigners – Ideas for Reform’ on Monday 6 April from 3p.m. to 5:30 p.m. at the Galadari Hotel, Colombo with the objective of demystification of the law in relation to ownership and leasing of land by foreigners. This programme would focus on highlighting the finer points and impacts of the Act from many dimensions including legal, accounting, taxation et al and ideas for reform of the existing blanket prohibitions to provide flexibility whilst preserving the national interest. The programwill commence with presentations delivered by K. Kanag-Isvaran, PC and Suresh Perera, Tax Attorney, KPMG. This will be... 


Harsha appointed Chemanex Chairman

Published : 12:00 am  April 6, 2015  |  Category: Business  |  Leave a Comment  |  407 views  |  

Harsha Amarasekera PC has been appointed as the Chairman of Chemanex Plc. He is also the Chairman of Chemanex’ parent CIC Holdings Plc. Harsha replaces M.D. Wickremesinghe who resigned as Acting Chairman at Chemanex recently. Harsha is a leading lawyer having a wide practice in the original courts as well as in the appellate courts, specialising in commercial law, business law, securities law, banking law and intellectual property law. He was appointed to the Board of CIC Holdings Plc in 2005 and as Chairman in 2014. He also serves as an Independent Director in several leading listed companies including Vallibel One Plc, Expolanka Holdings Plc, Chevron Lubricants Plc, Amana Bank Plc, Keells... 


CNCI seminar on SVAT tomorrow

Published : 12:00 am  April 6, 2015  |  Category: Business  |  Leave a Comment  |  187 views  |  

The Ceylon National Chamber of Industries (CNCI) has planned a full day’s seminar on Simplified Value Added Tax Scheme (SVAT) to be conducted on 7 April from 9.00 a.m. to 4.00 p.m. at the Rajabojun Banquet Hall of the Liberty Arcade, Colombo 3. CNCI said many organisations need updates on the developments of the SVAT system and some organisations had made requests to the CNCI to arrange a training program related to the SVAT. The full day seminar is a good opportunity for those dealing with SVAT and all other taxations. The event will include a Q&A session related to taxation, where the participants will have ample opportunity to clear any doubts on the subject. The seminar will be conducted... 


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