Construction has ground to a halt with the Rs. 250 billion industry facing a severe cement shortage, say industry experts, calling on the Government and private sector to work together to provide a short-term solution. Ceylon Institute of Builders (CIOB) President Dr. Rohan Karunaratne told the Daily FT that they had received calls from builders [...]
Enters history books by securing latest Energy Management Systems certification in less than a month after its release The Brandix Group has achieved another global first for Sri Lanka by becoming the first apparel manufacturer in the world to receive ISO 50001, less than a month after the stringent Energy Management Systems standard was introduced [...]
The Telecommunications Regulatory Commission is planning to further bring down the minimum call rates for mobile phone. According to TRC chief Anusha Pelpita, service providers will be allowed to reduce the minimum charge to Rs. 1.50 per minute next month. The rate presently stands at Rs. 2.00. Out of the around 20 million phones in [...]
The Police Fraud Investigation Bureau is to bring to notice of several international and local banks operating in the country regarding certain bank practices that threaten the security of the deposits of the bank customers. “We have received a large number of complaints regarding frauds that had taken place using bank accounts. In several instances [...]
The International Monetary Fund (IMF) has urged Sri Lanka’s central bank on Friday to avoid continuous sales of foreign exchange and allow a flexible exchange rate to ease pressure on balance of payments. Completing the seventh review of its $2.6 billion loan to the island, the International Monetary Fund said Sri Lanka’s macro economic performance [...]
Sri Lanka’s exports surged 54 percent in March to 1,057 million dollars, topping a billion dollars for the first time helped by a steep increase in industrial goods as well as rising commodity prices, official data showed. Textile and apparel, the country’s key industrial export rose 68.3 percent to 473 million US dollars, rubber products [...]
Tata Motors (TAMO.NS) said on Saturday it launched its small Nano model in Sri Lanka, its first foreign market since sales of the vehicle began in April 2009. The firm has sold 110,000 Nanos, touted as the world’s cheapest car, since then. Tata Motors, India’s largest truck and bus maker, is also introducing five new [...]
Sri Lankan cellco Dialog Axiata has launched a pilot of 4G Long Term Evolution (LTE) mobile broadband network technology in the Colombo Fort, Colombo 2 and Colombo 3 districts of the capital, and has demonstrated data speeds of 40Mbps-50Mbps (download) outdoors under ‘actual’ mobile network conditions, as well as downloads of up to 100Mbps in [...]
Sri Lanka’s telephone density rose to 100.8 lines per 100 persons in 2010 showing that fixed and mobile connections had overtaken the population, in a telling demonstration of the results of ending a state monopoly. Telephone density rose from 86.6 in 2009 in a country with a population of 20.6 million, according to data published [...]
Sri Lanka’s current chicken consumption will increase to 8 kg per person from the current 5Kg next five years, Chairman of the Ceylon Grain Elevators (GRAN), Cheng Chih Kwong Primus said recently reviewing the company’s annual performance. “With rapid development, change in lifestyle and purchasing power, we expect the consumption would increase in such a [...]
The earthquake in Japan has affected all areas of the country’s life. The largest corporations Toyota Motor and Honda Motor have suspended production at their plants. Because of this forced action the supplies to the U.S. of Toyota Yaris, Scion XD, Scion XB and the Honda Fit / Jazz will be temporarily suspended. Nissan and [...]
The Public Health Department revealed that of the food samples taken from hotels and eating houses in the city, eighteen percent had been contaminated but the cooking water had not been contaminated. Chief of the Public Health Department, Dr. Pradeep Kariyawasam said that the germs had to be either in cooking utensils, the raw materials [...]
The highest ever recorded price for gold in the international market, has been reported. According to the National Gem and Jewellery Authority, a 24 carrot gold sovereign in the local market, is valued at Rs 42,000. During a period of one month, the price of gold in the international market has increased by $86. Analysts [...]
A senior Finance Ministry official told Lanka News Web that the Colombo Stock Exchange (SEC) is facing the risk of crashing in the near future due to the artificial manipulation of the stock market by a few racketeers wielding political powers in order to make unwarranted gains. He said that the purchase of stocks The [...]
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