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Sunday, 17 February 2013


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Government Gazette
Paddy harvesting has now commenced in the Northern and the Eastern provinces

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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