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Sunday, 25 May 2014

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The inaugural SMIDEX 2014 at the BMICH, showcases Sri Lanka's SMI products, services and technology for the Sri Lankan and international markets. It is organised by the Industrial Development Board of Ceylon (IDB). The exhibition concludes today. Pic: Vipula Amarasinghe

Electrocution deaths, a setback to economy

The Public Utilities Commission of Sri Lanka (PUCSL), the regulator of utilities in the country, has embarked on an islandwide program to create awareness and bring down the number of deaths caused by electrocution as it affects the economy.

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FR standards affect economic development

The development of the country’s economy is directly affected by the standard of financial reporting. The ever widening circle of financiers keen on international investment opportunities demand a higher level of financial reporting, said Central Bank Governor Ajith Nivard Cabraal at the international conference on 'Financial Reporting Supply Chain' in Negombo recently.

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Govt launches stage II of self-employment scheme

The Government has launched the second stage of the self-employment loan scheme for socially reintegrated ex-LTTE cadres, with the allocation of Rs. 525 million as interest subsidy, said the Chairman of the Rehabilitation Authority (RA) E.A. Samarasinghe.

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Lanka-Belarus Joint Economic Commission proposed

As Sri Lanka's trade with the Eurasian market, Belarus, the gateway to the 170 million-strong Customs Union, reached US $ 14 million, Belarus looks forward to renew trade and business ties with Sri Lanka.“With your assistance, we want to prepare fruitful projects with Sri Lanka. We propose to hold a Joint Economic Commission (JEC) with Sri Lanka in Colombo in July and organise a Belarus business delegation to Colombo,”

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Hewlett-Packard to cut 16,000 jobs

Technology giant Hewlett-Packard (HP) in a statement, that was accidentally released before US stock markets closed, said its profits had arisen 18% to $1.3 billion for the second quarter. But company sources said that despite rising profits, it plans to lay off an additional 11,000 to 16,000 workers. In 2012 HP had made plans to cut 34,000 jobs as part of a restructuring program.`

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Sadaharitha to issue one million agarwood plants

Sadaharitha Plantations targets to issue around one million agarwood plants within the next two to three years from its nursery in Ingiriya, said Sadaharitha Plantations, Head of Corporate Sales, Premier Kanil Hattotuwa. He said that the company had already sold around 200,000 plants during the past two years and added that it plans to sell around 500,000 agarwood plants a year.

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