Private sector must implement Govt. initiatives

The private sector has a responsibility to improve the Doing Business Indicators of the country and the private sector has failed to implement important initiatives launched by the Government, Central Bank Governor Ajith Nivard Cabraal told a post- Budget seminar organised by KPMG in Colombo on Friday.

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Budget focuses on reducing deficit

Chamber heads and business personalities expressed satisfaction over the 2014 Budget which is focused on reducing the budget deficit and boosting economic growth in the coming years. Sri Lanka Shippers’ Academy, CEO Rohan Masakorala said that he was pleased that the government was keen on bridging the budget deficit and promoting a vibrant export industry.

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International compliance highlighted

The biggest Lankan trade, tourism and investment exposition concluded last week at Battaramulla, with US $ 1 billion in international business partnerships, according to an Industry and Commerce Ministry spokesman. “There were more than 242,000 visitors including international buyers representing 66 countries - which led to 1,428 serious buyer visits and 101 promising B2B meetings,”

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Havelock City launches condominiums

Havelock City launched the sale of two luxury condominium towers at a ceremony at the newly opened state-of-the-art clubhouse. Over 400 guests were present. Havelock City the largest integrated mixed-use development project undertaken in Sri Lanka on 18 acres of prime land in Colombo comprises residential,

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Commercial Bank PAT tops Rs 7 b

Improved business volumes in the third quarter of 2013 enabled the Commercial Bank of Ceylon to narrow the gap on its profit performance compared to the corresponding period of last year, during which translation gains on foreign exchange earnings was a major contributory factor to the bottom line.

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