Sunday Observer Online


Sunday, 22 May 2016


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Marriage Proposals
Government Gazette
Colombo Port: Mitsui’s entry would have brought a huge difference to the Colombo Port.Picture by Shan Rupassara

Move to cut red tape hampering hub prospects

Growth in Sri Lanka’s ports and shipping industry is being hampered by delays in decision-making and negative policy directions. But the government is now trying to bring a solution by cutting through bureaucracy and working at the Cabinet level to make this country realise its potential as a hub in the Indian Ocean, a senior government official said.


Colombo centre to support fast-growing LSE Group trading, clearing house businesses

First centre of its kind in the world :

The London Stock Exchange Group (LSEG) will bring 32 ‘technology disciplines’ to Sri Lanka with the setting up of its subsidiary LSEG Business Services Limited in Colombo, and support high-speed trading platforms and clearing house functions that are among the group’s fastest growing businesses.


Rs 2.1 b Japanese grant for Jaffna’s Agri Faculty

The Japanese government has granted Rs. 2.1 billion to construct two buildings for the Research and Training Building Complex of the Agriculture Faculty of Jaffna University in Kilinochchi. Secretary to Treasury Dr. R.H.S. Samaratunga and Chief Representative of Japan International Cooperation Agency (JICA) signed the agreement in Colombo last week.


Restructuring loss-making enterprises

Improving efficiency and eliminating corruption:

The government will take steps to turn-around loss-making enterprises to relieve the burden on the public and thereby improve efficiency and eliminate corruption, Deputy Minister of Public Enterprise Development Eran Wickramaratne told Business Observer. “Inefficiency is a real drawback in this regard,” he said adding that when turned-around these enterprises will be of better service to the public.


Millennium IT employs over 900 Lankans

London Stock Exchange Group’s subsidiary MillenniumIT in Malabe, employs 926 Sri Lankans, according to its annual report for 2015.The Group acquired MillenniumIT in 2009 with 300 employees. It was originally set up by a Sri Lankan IT professional Tony Weerasinghe. It provides advanced capital market software products and enterprise sales and IT infrastructure services to over 40 organisations and exchanges around the world.


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