Ascot Holdings mandatory offer closes with consortium of buyers upping stake to 67%

Ascot Holdings PLC closed its mandatory offer with the acquirers upping their stake to 67.18 percent from the 45.16 percent they held prior to the offer announcement.  A consortium of local and foreign shareholders on October 24 bought 44.98 percent stake in the property and hospitality group for Rs.241.6 million, giving the firm a valuation of Rs.42.50 a share. 

Allianz Continues to Support Sri Lankan Paralympic Team

Allianz Lanka has extended its support to the Sri Lankan Paralympic team by another two years. Allianz, which has been a partne

MullenLowe Sri Lanka Appoints New Head of Strategic Planning

MullenLowe Sri Lanka announced the appointment of Abhishek Hariharan as Associate Vice President and Head of Strategic Planning

Lakshan Madurasinghe’s life-changing journey at Habitat for Humanity

On International Volunteer Day, which is celebrated universally on 5th December, to foster a spirit of volunteerism amongst individuals and organizations

Sampath Bank Empowers Local Merchants with UnionPay Card

Sampath Bank announced that its local merchant partners will now be able to accept UnionPay credit and debit cards for Point of Sale (POS) payments.

Quebee Den at 2017 Global Entrepreneurship Summit

Young entrepreneur Rohanthi Wijewickrama, the Founder/CEO of Sri Lankan children’s products company Quebee Den (Bellybees), was invited to participate in the eighth annual Global Entrepreneurship Summit, held by the USA and India, recently.   

Abans announces offers for Christmas season

As the first week of December rolls around, we all groan in anticipation of finding the perfect gifts for our family and friends, managing our holiday expenses and dealing with empty wallets after the season is over. So, we often dread the Christmas season, rather than looking forward to it as a joyful time to be spent with our loved ones. 

Barista serves ‘best value meal’ at BIA outlet

With over 12 outlets spread across the country, Barista has made its name as the largest international coffee chain in Sri Lanka. Having first been established in the year 2002, Barista is now at its peak within the café scene, with a growing number of coffeeholics patronising the fine Italian coffee served at their outlets. Each outlet spread out within the Colombo city limits and tourist hot spots around the country has its own unique of

Arpico expands mattress operations to India

Arpico mattresses, Sri Lanka’s pioneer and leader in mattress manufacturing, recently extended its operations to the international market by launching the Arpico Mattress range in India.

Higher food prices, medical expenses keep November inflation at elevated levels

Sri Lankans’ medical spending has spiked in November, pushing up the overall consumer prices for the month, perhaps a sign that the profusely higher food prices have either shocked them to the core or the cut down in their daily food nutritional intake has made them sick. 

Long-awaited Jetwing Symphony IPO announced

The long-awaited initial public offering (IPO) of Jetwing Symphony will open up for subscription on December 14.

Bingiriya industrial zone to be developed as a public-private partnership: PM

The industrial zone to be built in Bingiriya would be developed as a public-private partnership (PPP), revealed Prime Minister Ranil Wickremesinghe. He said the Treasury would be one partner of the PPP while a suitable partner would be sought from the private sector, either local or overseas. 

Ascot Holdings stock exchange disclosure opens flurry of dubious deals

Ascot Holdings PLC last week disclaimed the liability for a secondary mortgage bond, which has been issued under its subsidiary, Ascot Development Private Limited, mortgaging its property on T.B. Jayah Mawatha in Colombo 10 for Rs.350 million to a private commercial bank. 

Softlogic Life beats the world at Global Mobile Marketing Awards

Sri Lanka’s fastest growing life insurance brand Softlogic Life has become the first ever Sri Lankan brand to emerge winners in the prestigious 

PickMe introduces unique pricing structure for three-wheelers

In a strategic move to bring greater benefits for drivers and patrons, homegrown taxi hailing service PickMe reduced its three-wheeler fares to Rs.33 per kilometer, from a previous fare of Rs.35 per kilometer.  

Indo-Lanka FTA most significant partnership between Sri Lanka and India: Rishad

No partnership between India and Sri Lanka is as strong as the historic Indo-Lanka trade pact inked way back in 1998.

EV Club highlights shortcomings in budget proposals on electric car taxes

While the budget 2018 has promising policies with regard to making electric vehicles (EVs) popular, it simultaneously has handicapped the ability to reach the set target, according to EV Club Sri Lanka. 

Tourism Minister assures more concessions to industry

In addition to the concessions granted to the tourism industry through Budget 2018, the Ministry of Tourism Development has also made other specific requests to the Finance Minister. These requests include reverting to the previous excise licensing hours, credit facilities for the trade and other concessions. 

South Asia offers US$ 3.4trn in climate investment opportunities: IFC

South Asia’s ambitious plans to meet its climate targets under the Paris Agreement represent US$3.4 trillion worth of investment opportunities in cities and infrastructure by 2030, a new report released yesterday by International Finance Corporation (IFC) notes. 

Braving bad weather!

A couple at the Galle Face braves the stormy weather that havocked Sri Lanka on Wednesday and even prevailed during yesterday albeit to a lesser degree. In the foreground is the Chinese-funded Colombo Port City which is under construction. 

Pakistan raises US $2.5 bn from sukuk, Eurobond sales, sees solid demand

REUTERS: Pakistan raised US$2.5 billion from the sale of two U.S. dollar-denominated sukuk and Eurobond issues in New York, a senior official said yesterday. The issues had attracted total offers of US$8 billion.

No Mirror Business on Saturday

There will be no Mirror Business tomorrow in view of today’s public and mercantile holiday.  The next issue will be on Monday (4th).

Mobitel’s Cash Bonanza winner drives away with brand new Montero

Mobitel recently presented the 10th grand prize of a brand new Montero as a part of its year-round Cash Bonanza Montero Extravaganza programme. 

George Steuart Teas joins with P&S to launch specialty tea counters

George Steuarts Teas recently tied up with Perera & Sons (P&S) to offer a range of the finest Ceylon Teas to its patrons in Dambulla

Shangri-La and leading city hotels roll out red carpet for IRONMAN 70.3 Colombo

With preparations for the world famous triathlon event ramping up, a collection of Colombo’s leading hotels were announced as hospitality partners to the internationally famed triathlon event, IRONMAN 70.3, which is set to kick off in the city on the 25th of February 2018.

Google launches Datally

Today Google announced Datally, a smart and simple Android app that helps smartphone users understand, control, and save mobile data

Mobitel won several prestigious awards at the Techno and INFOTEL

Mobitel, Sri Lanka’s National Mobile Service Provider, won several prestigious awards at the National Engineering and Technology Exhibition, Techno 2017

Oman Air marks 8th Anniversary of fruitful operations in Sri Lanka

Oman Air proudly announces its 8th Anniversary of successful operations in Sri Lanka. The national airline of Oman has grown by leap

Bank of Tokyo-Mitsubishi plants 500 mangrove saplings for global CSR month

The Bank of Tokyo-Mitsubishi UFJ Ltd. Colombo Representative Office, planted 500 mangrove saplings as part of the bank’s ‘MUFG Gives Back’ annual global CSR campaign in November.

Kelani Shakthi extends training programme for Jaffna electrical technicians

Kelani Cables PLC extended its ‘Kelani Shakthi’ professional development CSR programme for electrical technicians in the Jaffna Peninsula for further three years. The decision was mutually taken by Kelani Cables PLC and the Jaffna University based on the huge success of the programme and its timely importance. The MOU with regard to extension of ‘Kelani Shakthi’ was signed by Kelani Cables PLC Director/CEO Mahinda Saranapa