Government intervenes to stabilise paddy prices
The Government last week said that state agencies
have intervened to ensure a higher price for farmers and will offer
Rs. 35 per kg for samba and Rs. 32 per kg for nadu paddy, the
highest price ever paid out to rice millers. This decision comes in
the wake of rains causing havoc to paddy harvests. Sources said that
paddy harvesting has now commenced in the Northern and the Eastern
provinces and continuous rains haves disrupted harvesting,
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WTO bolsters support for Sri Lanka
In a fresh boost to Sri Lanka’s international
trade push, the global trade body World Trade Organisation (WTO) is
stepping up its support to the country. “We thank WTO for its latest
initiatives on Sri Lanka. As a founder member of the WTO, we too are
well committed to the WTO policy framework,” said Minister of
Industry and Commerce,
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Outsourcing : Visibility vital in international market
International Association of Outsourcing
Professionals (IAOP) global ambassador, Bobby Varnasi said that Sri
Lankan outsourcing companies are not visible in international
markets and companies should be visible from the buyers point of
view rather than be dependent on independent assessments. He was
speaking at the launch of IAOP Sri Lanka Chapter in Colombo last
week.
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Sri Lanka MICE hub due to strategic location
Sri Lanka has been recognised as a hub for MICE
(Meeting Incentives Conferences and Exhibition) tourism due to its
strategic location and port development, Lanka Exhibition and
Conference Services (Pvt) Ltd.(LECS), Director Imran Hassan said. He
said that Sri Lanka's close proximity to India and port development
are huge incentives to promote MICE tourism which is a major
contributor to the tourism industry.
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LIOC incurs Rs 6 loss per litre on diesel - MD
Lanka Indian Oil Company (LIOC) loses about Rs 6
per litre of diesel and the loss per month for the company from
diesel is around Rs. 50 million. However, the company earns profits
from petrol, lubricants and other petroleum products and will
further diversify its products portfolio to increase profits,
Managing Director of LIOC, Subodh Dakwale told a press conference in
Colombo last week.
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Estonia, Sri Lanka trade improves
A high-powered business delegation from Estonia
led by Estonian Foreign Minister, Urmas Paet arrived in the country
to study business opportunities. Although the trade volume between
the two countries had been small, it has increased during the last
few years, President of the European Chamber of Commerce of Sri
Lanka,
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NDB Group records Rs 3 b PAT
Financial year 2012 proved to be a year of
record performance for NDB as it reported a 37% and 45% increase in
profit before tax (PBT) and profit after tax (PAT) respectively,
with its asset base recording an increase of 17% over December 31,
2011. These growth levels resulted in a PBT of Rs. 4.6 billion and
PAT of Rs. 3 billion.
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