Investor confidence boosted despite malicious propaganda
Sri Lanka is open for investment and there is no
risk of terrorism, no tough regulations obstructing business and the
country is open for competition, President Mahinda Rajapaksa told
the business delegation at the inauguration of Sri Lanka Expo 2012
at the BMICH last week.
Urban population will increase to 57.2 percent by 2015
At present 32.2 percent of the global population
live in urban areas while it is predicted to increase to 57.2
percent by 2015 and most of them live in slums. Additional Secretary
Ministry of Defence and Urban Development, Janaka Kurukulasuriya
said that urban development is one of the key features of the
Governments policy and according to MDG’s improving the life of slum
dwellers is a must.
Food certification firm set up $ 1.3 million initiative
An MoU was signed between Ind-Expo Certification
Ltd and Sri Lanka Tourism Development Authority (SLTDA) to launch a
food certification firm. The $ 1.33m initiative was inaugurated by
Minister of Industry and Commerce, Rishad Bathiudeen recently.
People's Bank records highest-ever Group PBT of Rs. 21 b
The People's Bank surpassed all previous records
to post a PBT figure of Rs. 21 b in FY 2011 – the highest-ever
recorded in the banking industry to-date. This includes a PBT of Rs.
15.3 b recorded by People's Bank – which delivered a 75 percent
growth over last year, emerging as one of the most profitable banks
in Sri Lanka for FY 2011.
Sri Lanka–Korea trade further strengthened
Trade between Sri Lanka and Korea will increase
by about 20 percent this year, said Deputy Minister for Planning and
Coordination/Ministry of Knowledge Economy Korea, Jeong Marn-Ki
addressing a Sri Lanka-Korea luncheon meeting on Wednesday. He said
that there is enormous potential to boost trade and investments
between the two countries which is currently in favour of Korea.
New Managing Partner and Country Head of KPMG
Mohamed Reyaz Mihular has been appointed
Managing Partner and Country Head of KPMG. Reyaz has been with KPMG
Sri Lanka for over 30 years and during this time his contribution
has been phenomenal. In addition to holding a number of leadership
positions within the KPMG network.