General Motors (GM), America’s iconic automaker, has been one to stick to tradition, in typical Detroit fashion. Yet, it broke new ground recently when it announced the appointment of Mary Barra as its CEO – the first woman to head one of the world’s largest automakers.
Dipped Products PLC, the rubber glove manufacturer of Hayleys Group said it is investing in a new facility at the Biyagama BOI Zone, where commercial operations are expected to commence from mid April 2014.
All Sri Lankan trade and business chambers must work together to foster improved standards of debate and discussion around economic and even social policy according to outgoing International Monetary Fund (IMF) Resident Representative to Sri Lanka and the Maldives, Dr. Koshy Mathai.
Expolanka Holdings PLC yesterday sold a 38 percent stake in Asia Pacific Institute of Information Technology (Pvt.) Limited (APIIT) to a Malaysian private equity fund in a deal worth Rs.663.7 million.
Aitken Spence, the blue-chip conglomerate which has a strong presence in Sri Lanka’s commercial sector as well as the region, recently announced the launch of its upmarket luxury complex ‘Heritage Grove’, aimed at providing the ideal lifestyle for those wanting to spend the autumn of their lives in ultimate comfort.
The Subway restaurant chain, the largest submarine sandwich chain in the world, will launch its first restaurant in Sri Lanka in 2014.
Sri Lanka’s coconut production during the year 2010 fell down by 536 million nuts Year-on-Year to stand at 2317 million nuts, marking the lowest annual production recorded in nearly 15 years.
Two years ago, it was officially announced that the Doha Round had reached an impasse after 10 years of negotiations. Pascal Lamy, who was then Director-General of the WTO, admitted this publicly.
Sampath Bank , the pioneer in introducing many an innovation to the Sri Lankan banking sector yesterday launched its latest state-of-the-art banking facility “Cardless cash ATM” for the first time in Sri Lanka.
Export of Sri Lankan spices increased sharply to 40.4 percent Year-on-Year (YoY) from January to October of this year, boosted by a drastic rise in exports of pepper and Cloves, according to Spices & Allied Products Producers’ & Traders Association (SAPPTA) statistics.
On December 3, 2013, the Australian government announced a new policy that aimed to further discourage the arrival of irregular migrants in Australia. Immigration Minister Scott Morrison announced that effective immediately, the government has put a cap on permanent protection visas for asylum seekers arriving by boat.
Peer-to-peer market needs accommodations, cars/parking, eating and experiences. Sri Lanka is well represented in the accommodations with rooms and houses across the country and rates ranging from US $ 10 to US $ 695 per night.
Mirror Business met with Rajeeva Bandaranaike who assumed duties as the Chief Executive Officer (CEO) of the Colombo Stock Exchange (CSE) last month. Bandaranaike is no stranger to the CSE as he worked at the place for 19 years holding various senior capacities.
Sri Lanka’s Central Bank (CB) will implement the third and the latest installment of Basel Accords— BASEL III beginning 2014, requiring the banks to further strengthen their capital buffers and also wanting them to decrease bank leverage, according to a CB official.
The capital market watchdog Securities and Exchange Commission (SEC) is likely to issue a directive in early part of next year, setting out rules on the ‘minimum mandatory continuous free floating limits’ for Colombo Stock Exchange (CSE) listed companies, according to a top official.
Sri Lanka Tourism welcomed a 13-member group from China’s ‘Travel Channel’, at the Bandaranaike International Airport, who arrived here to promote the Island aggressively in China via the Channel starting from January 2014.
Dialog Axiata PLC announced it will offer iPhone 5s, the most forward-thinking smartphone in the world, and iPhone 5c, the most colorful iPhone yet, to customers from today (December 13). The announcement follows Dialog being appointed the first and only Authorised Partner and Service Provider for Apple iPhone in Sri Lanka.
The International Monetary Fund (IMF) cautioned the government for using banks and other financial institutions to borrow overseas on its behalf, as it could pose additional risks to the financial system.
The Securities and Exchange Commission yesterday tightened the rules on related party transactions by introducing a detailed best practices code with effect from January 1, 2014, aiming to safeguard minority shareholders and put in place an internal control mechanism in listed firms.
National Development Bank PLC’s (NDB) Rs.10 billion debenture issue—the largest to-date—has been oversubscribed, the Registrars to the issue, SSP Corporates said a while ago
IRIN: Relief will be more easily and quickly available, and the economic fallout much more manageable, if governments project and plan fiscally for potential natural disasters and their human and economic toll well in advance, experts say.
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