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. 

Union Bank June profit up 7% on higher loans

Union Bank of Ceylon PLC, a licensed commercial bank with an asset base of Rs.103.2 billion, reported earnings of 12 cents a share or Rs.125.8 million for its June quarter, recording an increase of 7.0 percent year-on-year (YoY), the interim financial accounts showed. 

SLIM Kicks Off Brand Excellence Awards 2017

The Sri Lanka Institute of Marketing (SLIM) announced the launch of the 16th SLIM Brand Excellence Awards at a joint briefing held for media and participants at the JAIC Hilton recently.

Etihad Airways Introduces Next-Generation Boeing 787 Between Abu Dhabi And Beirut

Etihad Airways today introduced the Boeing 787-9 on its scheduled daily service from Abu Dhabi, the capital of the United Arab Emirates (UAE), to Beirut, Lebanon. 

Female tourists overtake males in 2016: official data

More female tourists arrived in Sri Lanka than males in 2016, possibly for the first time in Sri Lanka’s 50-year organized tourism history despite recent travel warnings by several foreign missions in the country of sexual assault on female tourists. 

H’tota port deal will go ahead despite protests: Eran

A firm talking State Finance Minister yesterday asserted that the controversial Hambantota port deal would go through regardless of the protests against it.

NDB June quarter net profit up 40% on strong loan growth, better margins

National Development Bank PLC (NDB), the development lender turned commercial bank, reported earnings of Rs.4.48 a share or Rs.748. 1 million for the April -June quarter, recording an increase of 39.7 percent from a year ago as the bank managed to maintain the growth in advances and margins despite difficult market conditions, the interim financial accounts showed.

Wilpattu to be closed during low visitor months

The sustainable Development and Wildlife Ministry has decided to close the Wilpattu National Park to visitors during the low season months of May and to strictly enforce zoning restrictions whereby tourists and other visitors will be allowed to only visit designated zones in the park.Wilpattu National Park has been severely affected by the prevailing drought in the northern and central region of Sri Lanka, 

JKH city hotels and real estate arm sees 17% profit decline in 1Q

Asian Hotels and Properties (AHPL), the city hotel and real estate management arm of the John Keells group, posted a net profit of Rs.280.12 million for its first quarter ended June 30, 2017 (1Q18), which was a 17 percent Year-on-Year (YoY) fall, due to escalating costs of services provided at its hotels. Earnings per share for the quarter fell to 63 cents from 77 cents YoY. Revenue remained flat YoY at Rs.1.92 billion, while cost of sales increa

New primary issuance system for Treasury bonds from tomorrow

 The Central Bank of Sri Lanka will introduce a new primary issuance system for Treasury bonds effective July 27. 

Alpha Industries supports ‘Office 2017’ exhibition

Furniture manufacture Alpha Industries recently joined hands with ‘Office 2017’, an exclusive exhibition showcasing workplace solutions, as Gold sponsors for the mega event. 

Seminar on ‘Economics of garbage disposal’ tomorrow

The Sri Lanka Economic Association in collaboration with the University of Colombo Economics Department is organising a seminar on ‘Economics of garbage disposal’ tomorrow, at the Department of Economics.

Senerath Devendra joins Dreamron as Group Financial Director

Senerath Devendra, a senior professional in the financial and corporate sector in Sri Lanka, will be joining the Dreamron group as its Financial Director in August 2017 to the position of Non-Executive Director of the group.

Cabinet clears port deal with China firm after concerns addressed

REUTERS: Sri Lanka’s cabinet cleared a revised agreement for its Chinese-built southern port of Hambantota yesterday, the government said, after terms of the first pact sparked widespread public anger in the island nation.

MSLGROUP’s Caryll recognized amongst Top 50 professional Women

Caryll Van Dort, Group Director of MSLGROUP Sri Lanka was recently recognized for her contribution to the advertising industry at the Professional Career Women Awards organized by Women in 

The Outlet Store rolls out summer shopping week spree

The Outlet Store, Sri Lanka’s latest addition to the fastest growing retail fashion sectorwhich opened its doors for an exclusive family shopping experience, rolled out a fabulous shopping week spreethis 

DFCC Bank Opens Full Service Branch In Tissamaharama

DFCC Bank opened its newest branch in Tissamaharama recently. Recognizing that the emerging economy of Southern Sri Lanka has a unique and diverse range of financial needs, DFCC Bank

Allianz Lanka Recognized as One of Nation’s Foremost Employer Brands

Allianz Lanka announced that it has been recognized as the “Best Employer Brand” at the Sri Lanka Best Employer Brand Awards 2017 held recently. The event also saw the company’s Chief Executive

Bangladesh’s Gemcon Group retains MTI for M&As

Bangladesh’s leading business conglomerate The Gemcon Group, has retained the services of MTI Consulting for a strategic cross-border M&A assignment, aimed at bringing in domain-specific expertise into the Bangladesh market, along with strategic equity injection.

CICIR holds conference on ‘Belt and Road Initiative’

The Belt and Road Initiative (BRI) of China, offers many opportunities for countries like Sri Lanka that requires substantial infrastructure development.