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CDB extends operations to the North

The Citizens Development Business Finance Ltd (CDB) recently spread its wings to the North with two fully fledged Service Centres in Jaffna and Vavuniya.

Najeeb-ur Rahman as Country Manager for Sri Lanka

DHL Global Forwarding, the world’s leading air and ocean freight company, today announced that Najeeb-ur Rahman will take over as Country Manager of DHL Global Forwarding with effect from 1st April 2010....
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Sri Lankan delegation meets ICCI

KOCHI: A six-member business promotion delegation from the Ceylon Chamber of Commerce, Sri Lanka, had a meeting with the Indian Chamber of Commerce and Industry, Cochin, the other day. The interests of the delegation included export of rubber products, fruits and vegetables, sesame seed, tamarind and pulses and import of cotton yarn, chemicals, synthetic rubber, machinery, rubber process oil, footwear components, hybrid seeds, pulses, onions and potatoes....
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Hemas Manufacturing clinches Gold and Silver at ‘Taiki Akimoto 5S Awards’

Hemas Manufacturing recently clinched Silver and Gold awards at the annual Taiki Akimoto 5S Awards. It won the Taiki Akimoto Gold Award for the Best 5S Implementation in the Manufacturing Sector and the Taiki Akimoto Silver Award for the Best 5S implementation Overall beating several other local manufacturing companies....
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Economists visiting Sri shocked by Wimal’s actions

Finance Minister and Economic Development Ministry Secretary Dr. P.B. Jayasundera has informed Economic Development Minister Basil Rajapaksa that economists representing international organizations who have arrived in the country to explore the possibilities of granting aid to the country, have been shocked a petrified by NFF Leader and Wimal Weerawansa’s protest outside the UN launched on the 6th, sources from the Finance Ministry said.

New BOI project for economic development in Information Technology sector

The IT/BPO industry in Sri Lanka is witnessing tremendous growth due to the expansion of the global BPO industry. This is further supplemented with the availability of a highly skilled talent pool at a competitive cost to cater to the needs of the industry. Domestic IT adoption is also increasing significantly, driven by the awareness created by the initiatives taken to build IT capacity and competence in rural areas of Sri Lanka. The growth of telecom penetration, increasing use of IT and strong focus on ICT education in schools has also encouraged this growth. The use of technology and outsourcing as a means to reduce cost will continue to drive the growth of IT/BPO sector in Sri Lanka.

Jet awaits govt nod to launch more flights to Colombo

Jet Airways has so far not got official permission to launch additional flights to Colombo, four months after it applied, an airline official said.

The US GSP also at stake

The US government has decided to review the GSP facility extended to 3,400 Sri Lanka exports to the country.

STOP LABOUR RIGHTS VIOLATIONS IN THE APPAREL SECTOR AND COMPLY WITH ILO STANDARDS TO PROTECT US GSP

The US government has accepted a petition to review the US GSP status enjoyed by Sri Lanka.

New BOI projects reflect growing importance of tourism sector in economic development of Sri Lanka.

The Board of Investment promotional strategy will focus mainly on 5 areas during the next five years, which include dairies, tourism and leisure, education, IT/BPO and urban infrastructure development. Since the Tourism sector has the potential of becoming a major contributor in the economic development of the country, the government aims at building up this industry so that it may offer a world standard product.

Fitch Downgrades Sinhaputhra Finance PLC to 'B(lka)'

Fitch Ratings Lanka has today downgraded Sinhaputhra Finance PLC's (SFL) National Long-term rating to 'B(lka)' from 'BB-(lka)'. The Outlook is Negative. Although liquidity pressure faced by the company has waned, Fitch notes the significant increase in the regulatory six-month NPLs and consequent deterioration in the net NPL/equity ratio, and depressed profitability.

FITIS offers ICT Partnership Opportunities

The Federation of IT Industry Sri Lanka popularly known as FITIS offers its members a unique opportunity to create ICT partnerships. In finding new regional partners ICT companies can now join the business exchange and multilateral trade visit programs they offer through their regional body ASSOCIO.

Tri-Star Apparel provides jobs for 400 rehabilitated ex-LTTE cadres

400 ex-LTTE female cadres who received vocational training in rehabilitation centres have received jobs at the Tri-Star Apparel Factory in Alawwa.

GSP Plus benefit will not be extented unconditionaly

The Delegation of the European Union to the Democratic Socialist Republic of Sri Lanka & the Maldives would like to clarify information which has appeared in several press articles related to the ongoing dialogue on GSP plus between the European Commission and the Government of Sri Lanka.
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Colombo News Desk CND