Plantations help Richard Pieris stay afloat in 2Q

The diversified Richard Pieris and Company PLC (RICH) managed to maintain a 2 percent growth in its bottom line for the second quarter of the 2018 financial year (2Q18), compared to the corresponding period last year with a net profit of Rs.868.16 

Rupee ends weaker on dollar demand

REUTERS: The Sri Lankan rupee closed slightly weaker yesterday due to late importer demand for the U.S. currency as investors awaited clarity on budget policies announced last week, dealers said.  

Budget in line with IMF plan but fiscals still weak: Fitch

Fitch Ratings yesterday gave thumbs up for the Budget 2018, which is widely hailed as a futuristic policy document, but did not fail to add that the country’s fiscal front still remains extremely vulnerable due to high government debt and large cost of debt servicing. 

Daraz.lk announces Black Friday 2017 : The biggest sale of the year

The Daraz Black Friday sale will be livefrom the 20th to 27th of November, and if you're looking to buy a new smartphone, household appliances or even apparel, then you could get some

DFCC Bank empowers their sales team with ‘SalesTalk’

DFCC Bank, Sri Lanka’s fastest growing commercial bank, continues its commitment to the digital transformation of the country’s financial sector by using digital

The Sri Lanka - Indonesia Business Council (SLIBC)

Members of the Sri Lanka – Indonesia Business Council (SLIBC) recently attended the 32nd Trade Expo Indonesia that was held in Jakarta, as part of an ongoing effort to strengthen 

A Feast of Epic Proportions of Turkish Delight at Graze Kitchen, Hilton Colombo

Get aboard the Ottoman Express for a fusion of culinary traditions with one pod of authentic Turkish Cuisine at the GRAZE KITCHEN, Hilton Colombo’s theatre of dining

next Sourcing recognizes outstanding suppliers

next Sourcing, a fully-owned subsidiary of the retail clothing and accessory giant next PLC - UK, recognized and rewarded its supplier base at Suppliers’ Seminar 2017, held at Park Street Mews Colombo recently. 

Asian Paints unveils ‘Colour Ideas’ store in Jaffna

An Asian Paints ‘Colour Ideas’ store, which focuses on colour as an idea rather than a product, was recently opened in Jaffna to offer consumers the right mix of inspiration and detail in the world of painting.

Consulus Global in Sri Lanka with Hummingbird International

In response to the relentless speed of change and the impending disruption that industry 4.0 will bring to business and global community, Hummingbird International, which was a representative of 

Mike Audio makes Fender guitars now available at Yamaha Music Centre

After the initial prototypes of the 40s, Fender gave birth to the Stratocaster in the early 50s and the instrument would eventually become the standard by which all other guitars are measured. 

Ceylon Tapes receives top certifications for quality standards

Ceylon Tapes (Pvt.) Ltd, the pioneer adhesive tape producer in Sri Lanka and a fully-owned subsidiary of Lankem Ceylon PLC, was recently awarded the ISO 9001:2015, ISO 22000:2005, GMP and HACCP certifications by Indexpo Certification Ltd for achieving high quality standards in its overall operations and services.

Sri Lanka–Russia Business Council holds 14th AGM

The 14th Annual General Meeting (AGM) of the Sri Lanka – Russia Business Council (SLRBC) of the Ceylon Chamber of Commerce was held recently, electing Priyantha Hapuarachchi as President for 2017/2018 who is the Chief Financial Officer at South Asia Textile Industries Lanka (Pvt) Ltd. 

National Chamber lauds Budget 2018

The introduction of the new concept ‘Enterprise Sri Lanka’ is praiseworthy and it would be a positive step to encourage the business development in the country. 

Ceylon Chamber welcomes 2018 Budget, but says implementation is key

The proposed 2018 National Budget progresses the recent economic policy visions of the government. 

Hemas 2Q net profit down 14% over slowing demand, higher costs

  Diversified conglomerate Hemas Holdings PLC continued to face challenges during the second quarter of the 2018 financial year (2Q18) ended September 2017, with a sharp fall in the bottom line compared to the same period last year, attributed to contractions across most of the group’s operating segments stemming from cost increases.

Biz will find ways to pass taxes to customers: official

Sri Lankan businesses will find a way to pass on the taxes imposed on them to the customer despite the specific restriction not to, a senior official in the Finance Ministry said.

Nestle Lanka’s disappointing performance extends to third quarter

Nestle Lanka PLC reported disappointing numbers for the September quarter (3Q17) as the sales slowed and production cost rose sharply. The company is battling a period of high inflation and taxes, which negatively impact consumer demand and push up its direct costs. 

Oil producers to extend cuts to rebalance market: UAE

AFP: Oil producers are expected to unanimously extend a production cut accord later this month but its duration is still under discussion, the UAE energy minister said yesterday.

Stocks extend run of declines, hit near 6-week closing low

REUTERS: Sri Lankan shares fell for a third straight session yesterday to their lowest close in near six weeks, weighed down by declines in telecom and banking stocks after the island nation targeted both cash-rich sectors in its 2018 budget to boost revenue.

Parent divests 7.5% stake in Softlogic Life in Rs.582mn deal

Softlogic Capital PLC yesterday divested a 7.5 percent stake in Softlogic Life Insurance PLC to foreign institutional investors in a Rs.582.3 million deal to allow the insurer to comply with the minimum public holding rules of the Colombo Stock Exchange. 

Rupee steady; market awaits clarity on some budget policies

RETUERS: The Sri Lankan rupee closed little changed yesterday as dollar conversions by exporters were offset by importer demand for the US currency and investors waited for more clarity on some budget policies announced last week, dealers said.

Hayleys Advantis Continues Investing in Sri Lanka’s Future by Inspiring Future Logisticians

Hayleys Advantis Limited recently completed the second programme in their capacity building initiative under the theme ‘Inspiring Logistics in Sri Lanka’.The programme was launched

Etihad Airways Marks Opening Of Louvre Abu Dhabi With Spectacular A380 Fly-By

Hundreds of visitors from around the world, attending yesterday’s official public opening celebrations of the Louvre Abu Dhabi, were treated to a low-level fly-by of the Jean Nouvel designed

Kemara Life Spa and Wellness Centre launches Juice Feasting

It seems that fruits and vegetables of the same family are fighting for their five seconds of fame. One day it’s kale and the next it’s dragon fruit. But it feels impossible to cram all these super

Privacy fears over artificial intelligence as crimestopper

AFP: Police in the US state of Delaware are poised to deploy ‘smart’ cameras in cruisers to help authorities detect a vehicle carrying a fugitive, missing child or straying senior.

CAM Management Solutions (Pvt) Ltd

Global Enterprise Performance Management (EPM) software vendor, CAMMS – a world leader in planning and strategy, project, risk and meeting management software, as well 

ICMA Australia holds Global Hall of Fame Awards

The Global Financial Accounting Hall of Fame and the Global Management Accounting Hall of Fame Awards Ceremony were held recently, organised by the Institute of Certified Management Accountants (ICMA) Australia.

MTD Walkers launches Fat Lady for Sanken

MTD Walkers PLC subsidiary Walkers Colombo Shipyard (Pvt.) Ltd recently launched the 69.4 tonne, 23-metre Fat Lady self propelled barge, which was ordered by Sanken Overseas Maldives (Pvt.) Ltd.  Pic by Nisal Baduge

Prime Minister to inaugurate Intex South Asia

The third edition of Intex South Asia, the largest and only international textile sourcing show in South Asia will be held at the Sri Lanka Exhibition & Convention Centre (SLECC) from 15th to 17th November 2017, with Prime Minister Ranil Wickramasingha to inaugurate the event.