Tourist arrivals to Maldives grow 7.8% in June

The Maldives attracted 85,222 visitors in June 2017 recording a 7.8 percent growth compared to 12 months ago, with the momentum of arrivals growth from Europe cushioning a decline in visitor levels experienced  from China.

Dr. Ali Asgar gains control of Ceylon and Foreign Trade

Dr. Ali Asgar Shabbir Gulamhusein yesterday bought 61 percent of Ceylon and Foreign Trade PLC (CFT), represented by 85.6 million shares in a Rs.430 million deal.

Committee to probe Wijeyadasa’s allegations against BOI firms

Development Strategies and International Trade Minister Malik Samarawickrama has asked International Trade State Minister Sujeewa Senasinghe to appoint an independent committee to look into recent allegations made by Justice and Buddhasasana Minister Wijeyadasa Rajapakshe against some Board of Investment (BOI) companies. 

SLT incorporates cable depot company

Sri Lanka Telecom PLC (SLT) has incorporated a private limited company in the name of ‘Galle Cable Depot (Pvt) Ltd.’ for the purpose of carrying out the business of constructing, providing and managing a cable depot in Galle. The incorporation of the company was pursuant to the joint venture agreement entered into between SLT and Indian Ocean Cableship Pte. Ltd of Singapore on June 19th this year.

Samantha Rajapaksa appointed as Non-Executive Director to BOC board

Sri Lanka’s corporate sector figure Samantha Rajapaksa has been appointed as a Non-Executive Director of state banking giant Bank of Ceylon (BOC) by Public Enterprise Development Minister Kabir Hashim.

Millennium Challenge Corp. announces Rs.1.1bn initial grant to SL

A  Millennium Challenge Corporation (MCC) delegation led by Fatema Z. Sumar, Regional Deputy Vice President for Europe, Asia, the Pacific, and Latin America, is currently in Colombo to advance progress on the development of a five-year grant programme with Sri Lanka to reduce poverty and promote economic opportunity for Sri Lankans. 

Shares end steady, hover near 6-week closing low

REUTERS: Sri Lankan shares ended steady in thin trade yesterday as gains in financials were offset by losses in industrial shares, with foreign investors continuing to be net buyers.

SLIM Brand Excellence to give prominence to SME and online brand sectors

More prominence will be given to the Small and Medium enterprises (SME) sector and online brands at the 16th Sri Lanka Institute of Marketing (SLIM) Brand Excellence awards, themed, ‘Exhibit your masterpiece’ to be held  in November. 

Perfect the art of healthy, creative cooking with Abans

Do you want to revitalize your cooking routine? Then, head over to Abans Elite Kollupitiya tomorrow (July 29), at 10:30 am and learn more about preparing ultra healthy recipes in a quicker and easier manner, as demonstrated by a celebrity Chef using our innovative appliances.

ThreadSol concludes first edition of Apparel Tech Up Sri Lanka on high note

After Apparel Tech Up in Bangladesh, India, Vietnam and Indonesia, ThreadSol hosted the first edition of Apparel Tech Up for the Sri Lankan apparel industry on 20th July at Cinnamon Grand, Colombo. 

‘Ekata/Onraa’ social media campaign to target Sri Lanka’s skilled labour shortage

The idea among the general public is that statistics relating to Sri Lanka’s educational achievements look outstanding. However the reality is that there is a vast gap between skilled and unskilled labour.  To address this issue from the grassroots level, the government together with the private sector and civil societies has embarked on a social media campaign called ‘Ekata/Onraa’ to support Sri Lanka’s economic grow

ECL’s design and supervision expertise contribute to BIA runway upgrade success story

The recent resurfacing of the runway of Sri Lanka’s Bandaranaike International Airport marked an important milestone in the country’s aviation history. 

Ceylon Chamber and Customs to conduct seminar series on export and import procedures

The Ceylon Chamber of Commerce, in association with the Department of Sri Lanka Customs, will organize a series of half day seminars on export and import procedures in order to help exporters maximize opportunities in the  global market.

OPPO to web you in an enchanting journey in association with Spider-Man: HomeComing

The ever-evolving Camera Phone  brand  OPPO  has  established  an association with Sony Pictures on the much-awaited superhero movie, Spider-Man: HomeComing, in theaters from 08th July.

Etihad Airways Reports Net Loss For 2016

Etihad Airways today announced its 2016 financial results, recording a net loss of US$ 1.87 billion on US$ 8.36 billion in revenues as one-off impairment charges and fuel hedging losses weighed against

Ceylon Association of Shipping Agents Elects Ruwan Waidyaratne of Hayleys Advantis as Chairman

The Ceylon Association of Shipping Agents (CASA) announced that Mr. Ruwan Waidyaratne, Managing Director – Hayleys Advantis Limited, had been unanimously elected as its Chairman for 

Five star quality: National Bocuse d’Or chefs compete using fresh Round Island Barramundi

Oceanpick, Sri Lanka’s producer of oceanic barramundi; supported Sri Lankan chefs as their Seafood Sponsor when they entered the Bocuse d’Or competition, a biennial global culinary competition

Coca-Cola Returns to Partner with Sri Lanka Cricket

Coca-Cola has entered into a 3-year partnership with Sri Lanka Cricket (SLC) as the ‘Official Carbonated Beverage Partner’ from 2017 – 2020. 

mCash is the payment solution for newly-launched Ceylinco Customer App

mCash is the first to integrate as a mobile payment solution to power the newly-launched Ceylinco Customer App. Ceylinco General Insurance has partnered with mCash to offer third party insurance 

Qatar Airways Boosts Colombo Service To Four Daily Non-Stop Flights From 1 August 2017

Qatar Airways has announced it will introduce a fourth daily non-stop service from Doha to Colombo from 1 August, 2017.

Manufacturing operations hinder Cold Stores June bottom line

Ceylon Cold Stores PLC (CCL), the John Keells group’s retail and manufacturing subsidiary, saw its net profits for the June quarter (1Q18) falling 21 percent year-on-year (YoY) to Rs.675.80 million due to a weakened performance of its manufacturing unit.

SEC Commissioner Wijesinha commends CB Governor for his optimism

Optimistic on the future prospects, the country’s Central Bank chief this week assured the local business community that it would see stability in the immediate future and time is ripe for it to take advantage of the current favourable circumstances ever witnessed in Sri Lanka’s history.

Saudi Prince meets Malik

A delegation led by Prince Fahad Bin Muqrin Bin Aziz Al- Saudi, a renowned businessman and member of the House of Saudi Arabia, was on a visit recently to explore the investment opportunities in Sri Lanka. The delegation met Development Strategies and International Trade Minister Malik Samarawickrama at the ministry. 

Lanka Special Steels clinches Gold at NCQP

Lanka Special Steels Ltd., a subsidiary of E. B. Creasy & Co. PLC, was adjudged Gold Award winner in the National Convention on Quality and Productivity 2017, held at Sri Lanka Foundation Institute recently. 

Lanka IOC puts extra efforts to maintain fuel supplies

Lanka IOC PLC has made extra-ordinary efforts for ensuring round the clock supply of petrol and diesel in the country during the strike called by Ceypetco. 

LIRNEasia CEO Helani Galpaya appointed to GPSDD board

LIRNEasia CEO Helani Galpaya was recently appointed to the board of the Global Partnership for Sustainable Development Data (GPSDD).  

H’tota port deal will go ahead despite protests

A firm talking state finance minister yesterday asserted that the controversial Hambantota port deal would go through regardless of the protests against it.

Piramal Glass Ceylon first quarter profit hurt by lower sales, higher finance costs

Piramal Glass Ceylon PLC, the local unit of Piramal Glass Limited, India reported earnings of 11 cents a share or Rs.105 million for its April – June quarter (1Q18), down from 12 cents a share or 4.5 percent from the same period last year as sales weakened and the finance cost shot up. 

Finance Ministry slashes import duty on milk powder

The Finance and Mass Media Ministry this month has slashed the import duties on milk powder to negligible levels, as the global dairy prices show signs of continuous recovery after reaching a 10-year low in late-2015.

Shangri-La Hotels Lanka’s ‘The Mall at One Galle Face’ signs mega deal with Odel

Shangri-La Hotels Lanka Pvt Ltd has inked an agreement to partner with Odel, Sri Lanka’s premier fashion and lifestyle department store owned and managed by Odel Plc, a subsidiary of Softlogic Holdings PLC.