Australian purchases in Colombo bourse hit all-time high

Foreign inflows to the Colombo bourse originating from Australia indicate a figure of Rs.626.4 million year-to-date, which is an all-time record for foreign purchases from Australia in a calendar year, the Colombo Stock Exchange yesterday (CSE) said. 

Private credit eases in May but state borrowings surge

Credit extended to the private sector by the banks continued to decelerate as the latest data for May showed that private sector credit growth for the first time in many months had settled below 20 percent, but still above what the policy makers would have liked it to be. 

Ceylon Brewery’s claim for exclusive use of ‘Lion/Lion head’ dismissed

The Commercial High Court delivered a judgment in one of the most fiercely contested legal battles for a ‘Lion’ trademark on the 7th July 2017, where the plaintiff, Ceylon Brewery Limited’s claim for the exclusive use of ‘Lion/Lion head’ and the word ‘Lion’ within the territory of Sri Lanka was dismissed.

Dankotuwa operations affected by work stoppage

Porcelain tableware maker Dankotuwa Porcelain PLC yesterday said the operations of its factory in Dakotuwa had come to a standstill due to a work stoppage by the workers.

CB seen holding rates to support economy

REUTERS: Sri Lanka’s Central Bank is expected to keep its key interest rates steady tomorrow, as it walks a tight rope between supporting an economy hampered by the worst flooding in over a decade and keeping inflation in check amid still-strong credit growth.

Sudath Perera Associates celebrates 15 years of legal practice

Sudath Perera Associates, one of Sri Lanka's leading law firms, celebrated its 15th year anniversary last month. To commemorate the event, religious observances were held at its office in Nawala, followed

Hirdaramani Woven Puthukudiyruppu Factory Achieves LEED Platinum Status

Hirdaramani Woven Puthukudiyruppu was awarded the LEED Platinum certification established by the US Green Building Council and verified by the Green Building Certification Institute (GBCI).

Dehiwela - Mount Lavinia property owners can make municipal payments through Mobitel

Mobitel proudly launched Municipal Assessment Payment System (MAPS), an eTax payment system on 28th July 2017 at the Dehiwala - Mount Lavinia Municipal Council premises. The occasion was 

The British Council and Apex Business Academy expand into new premises in Matara

The British Council in Sri Lanka expanded its Partner Teaching Centre in Matara recently. The institution is partnering with the Apex Business Academy in order to offer a range of teaching services 

Sanasa Insurance, the happiest business with its unique ‘Sanasa Movement’

Created by the society, with the society, and for the society, ‘Sanasa movement’ is truly the largest and one-of-its-kind in the country with an ever-increasing membership. The Sanasa movement 

Mastercard Invites Cardholders to Explore the World with Emirates

Mastercard announced its partnership with Emirates to offer additional savings on economy and business class tickets. Cardholders can avail a discount of up to 8% on return economy fares and up 

DFCC Bank in strong half year performance

The DFCC Group reported an excellent half year performance for 2017, with DFCC Bank leading the charge on the back of its strategic growth drive as a rapidly emerging full service commercial bank.

SAKS Analytics leads the way for Sri Lankan corporates to understand & engage in Commercial Analytic

The scale and diversity of Sri Lanka’s economy makes it an ideal candidate for the deployment of advanced data analytics according to world renowned, Pakistani-born, data scientist and recently

EIAs are bedrock of environmental management, says expert

Verité Research hosted EIA expert Joshua C. Gellers, who presented his early research findings on the quality of Environmental Impact Assessments in Sri Lanka. 

Exporters expect govt.’s assistance in reaping GSP Plus benefits

Regaining GSP Plus will most certainly come with its fair share of challenges, and the government must now should set its sights on helping the export sector of the county to reap benefits, Exporter’s Association of Sri Lanka (EASL) stressed recently. 

Vehicles on Lankan roads reached 6.8mn in 2016: study

Sri Lanka reached a 6.8 million motor vehicle population in 2016, an 8 percent increase from 6.3 million registered in 2015, according to the latest edition of an annual report on the country’s vehicle market, compiled by the Ceylon Chamber of Commerce (CCC). 

Vision Care to buy Colombo City Holding’s Union Place land for Rs.1bn

Colombo City Holdings PLC, a property management company, yesterday said it entered into a sales agreement to divest part of the land it owns in Union Place, Colombo 2, which is commonly referred to as the Colombo Pharmacy land, for Rs.1 billion, to Vision Care Optical Services (Private) Limited. 

H’tota port sale only temporary fix as external woes persist: Moody’s

Despite the Hambantota port deal would provide a temporary respite to the country’s ailing external sector by way of boosting its foreign exchange reserves, such proceeds by no means would be adequate to alleviate the medium-term challenges that are far more acute, given Sri Lanka’s higher debt obligations, according to Moody’s Investors Service.  

Sakura International expands business from new location

Sakura International, as a reputed organization, is known for its ability to supply comprehensive solutions in any commercial equipment that would be needed for a hotel from its entrance towards the backend which would include bakery, catering & cold rooms, kitchen or other storage facilities.

SampathCards offer savings on Damro furniture

Continuing to provide irresistible deals, SampathCards, the responsible choice, announced that it has partnered with Damro to make furniture and appliances more affordable for its cardholders, yet again. 

Insurance law to be amended to free foreign and state insurers from listing

A new legislation gazetted by the Finance Ministry is attempting to amend the Regulation of Insurance Industry Act No. 43 of 2000 to allow insurance subsidiaries of foreign firms and state-owned insurance companies to be exempted from listing on the local stock market.

Fitch cuts Lion Brewery’s rating amid lower beer sales, higher taxes

Fitch Ratings yesterday downgraded the credit rating of Sri Lanka’s largest brewer, Lion Brewery (Ceylon) PLC, amid lower beer sales as a result of the higher taxes imposed by the authorities over the last 18 months.

Hemas Slingshot Startup Battle winners announced at ‘Disrupt Asia’

Hemas Slingshot, the startup incubator and seed accelerator programme of Hemas Holdings PLC, announced the winners of the Hemas Slingshot Startup Battle at the culmination of Disrupt Asia 2017 earlier this month. 

Alert SriLankan cabin crew members avert major incident onboard UL 166

Alert cabin crew members aboard SriLankan Airlines’ flight UL 166 managed to avert a major incident that is believed to have been caused by the ignition of a lithium battery pack or mobile phones in a passenger’s hand luggage. The incident reported on July 30, when the flight was en route to Colombo from Kochi.

Three perfect curries with one mighty Sera

In today’s fast-paced world, preparing meals after a hard day’s work can be tiring, costly and a full-on hassle. We all struggle with balancing our many tasks and responsibilities all whilst trying to manage 

Emerald International Partners with CIM Sri Lanka

The Chartered Institute of Marketing (CIM) Sri Lanka entered into its second year of Corporate partnership with Emerald International (Pvt) Limited, one of the leading menswear bran

Sri Lanka completes controversial US$1 bn port deal with China

AFP: Sri Lanka on Saturday sealed a billion-dollar deal to let a Chinese state firm take over a loss-making port in a move that worries many, including its giant neighbour India.

High costs, competition hurt Teejay Lanka 1Q performance

Knitted fabric maker Teejay Lanka PLC saw its performance in the most recent quarter being hit by a combination of factors, which included competition, higher raw material prices and overheads, finance costs and expiration of the tax holidays.  

Janashakthi Recognized for Commitment to Society at Fintelekt Insurance Awards 2017

Janashakthi Insurance PLC was recognized for its work as a responsible corporate citizen at the Fintelekt Insurance Awards 2017 held in Mumbai, India, recently. The insurer received the ‘Corporate 

Armed guards for tomatoes in India as prices rise

BBC: The price of tomatoes has risen so much in India that armed guards have been deployed to protect shipments of them in one state.