Union Bank announced the appointment of Sabry Ghouse and Sunil Karunanayake as new Independent Non Executive Directors to the bank’s Board of Directors with effect from 30 August 2012. Appointment of independent directors is an integral part of the bank’s good governance practices, thus ensuring further commitment to the protection of shareholder interest. In this ...

By Cassandra Mascarenhas The Government eServices project spearheaded by the ICT Agency of Sri Lanka celebrated a landmark achievement last evening, launching 22 important eGovernment services, further strengthening the country’s Government sector by making public services easily accessible to the citizens of Sri Lanka via the internet and mobile communication systems. Presidential Secretary...

The third in the revived Exporters’ Forum series in Sri Lanka’s new thrust concluded successfully on 10 July in Colombo with the community praising the effort for ‘active follow up’ on problems faced by Sri Lankan exporters. “Today we successfully cleared Rs. 15.5 m refunds which were due for exporters and also managed to resolve ...

As Sri Lanka-UK bilateral trade volumes reported a further rise in 2011, the UK is keen to raise its investments in Sri Lanka. “UK’s Cleveland Bridge Ltd., the well-known global tech engineering company, has won a contract to build 210 permanent steel bridges in Si Lanka. This infrastructure project is partly funded with a loan ...

Ballooning trade gap Even with the multitude of measures taken to curb imports, Sri Lanka's cumulative trade deficit widened to nearly US$ 1.7 billion in the first two months of the year with earnings from exports increasing marginally by 3.3 per cent to US$ 1.8 billion whilst import expenditure shooting by 24.7 per cent to ...