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Sunday, 24 March 2013

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Cypriot employees of the Laiki (popular) Bank take part in a protest outside Parliament on March 21, 2013 in Nicosia. The Cyprus cabinet was meeting in crisis session to approve a 'Plan B' bailout deal with the EU and IMF, as crowds gathered outside Parliament expecting the measure to be put to a vote. AFP

Korea to boost investments in Sri Lanka

South Korea, one of the largest international investors in Sri Lanka in the '90s, hopes to re-enter the country in a significant way. “The Sri Lankan government deserves credit for running the economy well. We were the largest investor in Sri Lanka in the '90s. Korean investors said that Sri Lanka is advantageous for re-entry,” said Korean Ambassador to Sri Lanka, Jong Moon Choi when he called on Minister of Industry and Commerce, Rishard Bathiudeen at the Ministry recently.

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'Infrastructure development vital for IT BPO growth'

“Infrastructure development is vital for the growth of the IT BPO industry,” said the chairman of the Sri Lanka Association of Software Service Companies (SLASSCOM) Sujeewa Devaraj. He was speaking at the SLASSCOM CXO Lunch Briefing in Colombo last week. In the cost structure of the IT BPO industry, HR cost is the highest and infrastructure comes second. Several global reports on real estate costs have recognised Sri Lanka as one of the most cost-effective destinations in the region.

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Electricity hike - people hope for fair decision

Discussions on the proposed new electricity tariff structure are hotting up with several views being expressed by various segments of consumers.After publishing the new tariff structure, the Public Utilities Commission of Sri Lanka (PUCSL) has called for written representations from stakeholders till March 28.

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'BOI should create environment for business development'

Sri Lanka has the best environment for investment and doing business, Laugfs Holdings Chairman W.K.H. Wegapitiya said. He said the business environment was severely affected for several decades due to the battle against terrorism that impeded investment and stifled economic growth.

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