Port City company offers to extend Marine Drive in US $ 150mn project

China Harbour Engineering Company Limited (CHEC), the developers and the owners of the Colombo Port City project, has proposed to extend the Marine Drive via an underground tunnel, that will ultimately connect the country’s South with the Northern region.  

Eran to present Appropriation Bill to Parliament today

The Appropriation Bill for the budget 2018 will be presented to Parliament today, Finance and Mass Media Ministry said in a press communiqué yesterday.

Retail head John Flint to replace Gulliver as new HSBC CEO

REUTERS: HSBC wants to appoint company insider John Flint as its next Chief Executive and has approached regulators seeking their approval, Britain’s Sunday Times newspaper said.

Summit Finance changes name to Prime Finance

The change in name comes with the acquisition of Summit Finance PLC by Property and real estate developer, Prime Lands (Pvt.) Ltd.

Fonterra Lanka launches another dairy innovation focussed on heart health

To help Sri Lankan adults live their lives to the fullest, Fonterra Brands Sri Lanka, the company behind Anchor, has launched another country first with its latest dairy innovation focused on heart health.

World Vision Lanka marks 40 years in operation

“Empowering communities out of poverty – for real. For good. That has been our business for 40 years here in Sri Lanka,” says Dhanan Senathirajah, National Director for World Vision in Sri Lanka.

Latest ‘State of the Economy’ report identifies inadequate HR skills a key constraint for growth

Against the background of a progressive improvement in the macroeconomic environment, led by better fiscal policy outcomes, Sri Lanka needs to urgently address the structural constraints through a process of reforms, if the country is to raise its medium-term growth prospects, Sri Lanka’s leading economic policy think tank, the Institute of Policy Studies (IPS) pointed out recently. 

Lankan start-up ecosystem to accelerate with ABAF 2017: Mano

One of the biggest events in Sri Lanka’s start-up ecosystem is set to take centre-stage this month as Sri Lanka hosts Asia’s largest start-up investor forum – Asian Business Angels Forum (ABAF) 2017.

Latvian Consul General visits Riga Foreign Affairs Ministry

On an official visit to the Republic of Latvia, Honorary Consul General of Latvia in Sri Lanka Thomas F. Daetwyler visited the Foreign Affairs Ministry of the Republic of Latvia and met Asia and Oceania Division Head Egils Dzelme.

Asia markets rally with US stocks as tax cut hopes boost dollar

AFP : Asian markets rallied yesterday with Hong Kong hitting a 10-year high after another record close on Wall Street following more buoyant US data and hopes for tax reform, which has also boosted the dollar.

ICC accorded permanent observer status in the UN

UN Secretary General extended a rare honour to the International Chamber of Commerce (ICC) as the first private-sector organisation to be accorded permanent observer status at the UN General Assembly.

German industrial orders jump on strong export demand

AFP:  Industrial orders in Germany, a key indicator of the health of Europe’s biggest economy, jumped in August, driven by strong overseas demand for German-made goods, data showed yesterday.

Philippines tobacco giant pays US$586 mn to settle tax case

AFP: The Philippines said yesterday it has dropped a tax evasion case against the country’s number-two cigarette manufacturer after it was sold to Japan Tobacco to raise funds for a record 30 billion-peso (US$586 million) settlement.

Ports Authority joins Food Production National Programme

The Food Production National Programme 2017 of the Sri Lanka Ports Authority (SLPA) was held recently at its Chaithya premises under the patronage of SLPA’s Acting Chairman P.G. Dasanayake and the participation of the Managing Director of SLPA -    H.D.A.S. Premachandra. 

Foreign Minister visits European Investment Bank

Foreign Minister Tilak Marapana during his recent visit to Luxembourg attended a business luncheon hosted by the European Investment Bank (EIB) at its headquarters in Luxembourg. 

Hidellana Tea Factory achieves record price

At this week’s Colombo Tea Auction held on 02nd and 03rd October , an invoice of Low Grown BOPFSP grade offered by Hidellana Tea Factory achieved an all-time record price of Rs. 900 per kg, breaking the previous record of Rs. 860 set at the sale of 13th June 2017.  This line of tea was purchased by Mabroc Teas (Pvt) Ltd.

Shangri-La Colombo set to become one of Asia’s top MICE destinations

Shangri-La Hotel, Colombo is set to become the most extensive and versatile events venue in Sri Lanka when it opens its doors by mid November 2017. 

Two Leo Burnett Sri Lanka professionals compete at Young Spikes Competition

Two young professionals from Leo Burnett Sri Lanka will represent the country at the upcoming Young Spikes Media Competition, which is set to take place in Singapore. Leo Burnett Sri Lanka’s Sarah Hassanally and Dilendri Wettewe recently named joint winners of the Young Spikes media competition conducted in Sri Lanka. They 

IronOne Technologies clinches five awards at NCE Awards Night

IronOne Technologies and BoardPAC bagged five overall awards at the recently-concluded Annual Export Awards 2017, conducted by the National Chamber of Exporters of Sri Lanka (NCE).

Hemas Hospital Wattala hosts kite festival for staff

Hemas Hospital Wattala recently organized a kite festival ‘Let’s fly 2017’ for the staff members to drive employee engagement and to create a platform for them to showcase their creative skills.

Sampath Bank partners Colombo Int’l Book Fair

Continuing to help nurture the habit of reading, Sampath Bank joined hands with the Colombo International Book Fair as the event’s official banking partner for the 13th consecutive year.

Children’s Day celebrated at TFO Kids Carnival, K-Zone Ja-Ela

The Factory Outlet recently organized the TFO Kids Carnival to commemorate World Children’s Day at the TFO K-Zone, Ja-Ela.

Ritzbury Champ as first sponsor for kids segment at Walawe Supercross

The annual ‘Walawe Supercross’, the event that attracts the country’s racing enthusiasts to the Uda Walawe Supercross track at Sevanagala, Sabaragamuwa, was held this year for the seventh time with a significant difference.

My friend foundation launches “English for All” program that encourages the learning of English Lang

My Friend Foundation, an organization focused on improving the lives of children in underprivileged schools, launched an innovative programme named ‘English for All’ on September 25, 2017.

Serendib Flour Mills celebrates World Children’s Day with students of CEHIC

As part of its ongoing CSR efforts, Serendib Flour Mills (SFML) recently renovated the bus belonging to the Centre for the Education of Hearing Impaired Children (CEHIC) in Kelaniya in commemoration 

Most Sri Lankans restrict themselves from following their dreams as early as the age of 30-40years

To help Sri Lankan adults live their lives to the fullest, Fonterra Brands Sri Lanka, the company behind Anchor, has launched another country first with its latest dairy innovation focused on heart health.

Over 80% industry leaders doubt accuracy of tourism statistics

Over 80 percent of local tourism industry leaders do not trust the tourism research statistics, and the country’s tourism earnings figures published by the Sri Lanka Tourism Development Authority (SLTDA), which is following erroneous methodology for its research, according to a Ceylon Chamber of Commerce (CCC) report.

Sampath Bank’s off-shore banking unit funds hotel project in Myanmar

Sampath Bank PLC this week announced that it had successfully concluded a loan transaction with Yango-based hotel developer Family Business Group Hotel Limited (FBGHL), Myanmar.

Drought-hit and hungry Sri Lankans struggle for harvest or work

Thomson Reuters Foundation:  At 52 years old, with two grown children, Newton Gunathileka thought he should be working less by this point. Instead he has never worked so hard – and earned so little. Gunathileka, from the Sri Lankan village of Periyakulam, in the North Western Puttalam District, is among hundreds of thousands of rural Sri Lankans who have borne the brunt of the worst drought in four decades.

Finance companies lobby for skimpy down payments on motor cars, three-wheelers

Sri Lanka’s finance companies are continuing to lobby the regulators to bring down the down payments on motor cars and three-wheelers in a bid to propel their leasing portfolios, which have experienced a hit in the recent times.