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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.
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.
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.
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.
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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