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Wednesday, 3 March 2010

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Hambantota to be free port

Project committee to finalize RFP process:

Hambantota which is an industrial port will be a free port with no tax involvements. Users are free to use the port for loading, value addition and distribution without any taxes. “Our target is to start cargo handling operations before the end of this year with the expected investments in place”, Sri Lanka Port Authority (SLPA) Chairman Dr. Priyath B. Wickrama told Daily News Business.

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Janashakthi posts impressive profits

Janashakthi Insurance PLC has recorded an impressive 46 percent growth in net profit after tax reaching Rs 657 million during the financial year 2009. The company has attributed its success to the growth of sales despite challenging market conditions, successful cost management, a significant reduction of borrowing and financing costs and a positive achievement in relation to Debtor management.

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Premium income tops Rs 7.5 billion:

Ceylinco Life ends 2009 on top

Life fund grows to Rs 25.6 billion:

Releasing its unaudited figures Ceylinco Life said its Life Fund grew 20.3 percent to Rs 25.6 billion, an increase of Rs 4,321 million during the year. Investment income has grown by 28.4 percent to Rs 3,350 million. The company’s Gross Written premium has exceeded Rs 7.5 billion.

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Container handling at the Colombo Port. The Hambantota Port will help Lanka’s economy. Pictures by Saliya Rupasinghe

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