RIL Property gears up for expansion

RIL Property PLC, a developer, manager and owner of Grade A office spaces in Colombo, successfully concluded its first annual general meeting (AGM) as a public limited company recently. The company, which went for an initial public offering (IPO) in May, was oversubscribed within hours of opening its issue. 

Netherlands Alumni Association of Lanka holds 46th AGM

The Netherlands Alumni Association of Lanka (NAAL) held its 45th annual general meeting (AGM) on June 18, 2017, at Winsgreat Holiday Resort, Polgasowita.

NDB securities expects FMCG sector to continue to grow albeit at a slower pace

NDB Securities Ltd (NDBS), a top brokerage firm in Sri Lanka, released update on the fast-moving consumer goods (FMCG) sector recently. 

Mobitel introduces Internet at your Doorstep with “Internet Expert”

The National Mobile Service Provider, Mobitel has launched its unique “Internet Expert” service which includes doorstep delivery of Mobitel 4G Wi-Fi Routers and Post-Paid Internet Packages. 

Coca-Cola Refreshes Commando Challenge 2017

Coca-Cola remains the first choice for Sri Lankan youth with its partnership at the Commando Challenge 2017. Organized by the Commando Army, Sri Lanka Auto-sports Drivers’ Association 

Mövenpick Hotel Colombo welcomes the Sri Lankan Cricket Team

The Sri Lankan Cricket Team arrived on Monday at the Mövenpick Hotel Colombo – the host hotel for the Zimbabwe tour of Sri Lanka for both teams. 

Serendib Flour Mills takes yet another step towards nurturing the environment

Serendib Flour Mills (SFML) recently delivered its first state-of-the-art tanker silo to Diana Biscuits and is set to offer this efficient and environmentally-friendly storage option to other customers as well. 

Hilton Colombo wins “Sri Lanka’s Leading Business Hotel” at The World Travel Awards

Hilton Colombo won “Sri Lanka’s Leading Business Hotel award the most prestigious award in the Travel & Tourism industry at the World Travel Awards. Described as the “Oscars” of the Travel & Tourism

Nolimit again among top 25 best companies to work for

The leading fashion retail chain in Sri Lanka, Nolimit was listed in the top 25 best companies to work for in Sri Lanka for the second consecutive year, by the Great Place to Work Institute at the recently held gala awards ceremony.

Losses of four key SOEs closely follow profits of state-owned financial institutions

Four key state-owned enterprises (SoEs) made Rs.30.53 billion in operational losses, almost as much as the operational profits of the entire state-controlled financial system during the first four months of 2017. 

Shares reach 18-month closing high in thin trade

REUTERS: Sri Lankan stocks rose yesterday to reach an 18-month closing high led by telecom and diversified shares, but volume was thin as foreign trading low.

Central Bank believes lending rates should come down despite rate cap removals

The Central Bank said the bank interest rates should trend downwards in line with the easing government securities yields as less pressure is expected from government financing towards the second half of the year.

Mattala airport handles record number of passengers due to BIA closure

Due to the repairs at Bandaranaike International Airport (BIA) earlier this year, Mattala Rajapaksa International Airport (MRIA) had handled a record 48,810 passengers during the first four months of 2017, which was 35 times of the 1,395 passengers it had handled during the corresponding period in 2016, the government data showed.  

Rupee slips on importer dollar demand

REUTERS: The Sri Lankan rupee edged lower yesterday as importers demanded dollars amid mild selling of the US currency by banks and exporters, dealers said.

Panel discussion on GSP Plus to tackle real impact

A panel discussion open for the public featuring Minister Dr. Harsha De Silva, Economist Deshal De Mel, and industry representatives of the apparel and seafood exporters’ associations will be held on Wednesday, July 12, at 5:30 p.m., under the theme of ‘GSP Plus, How Real is It?’ 

WiLAT Sri Lanka partners with Maersk Lanka ‘B2W’ project

Maersk Line has initiated ‘Back2Work (B2W)’, a career transition programme for the women who have taken a career break of more than six months and wish to re-enter the professional work space. 

SL Economic Summit 2017 to discuss transforming economy through technology

Sri Lanka Economic Summit 2017, organised by the Ceylon Chamber of Commerce, will conduct a dedicated thematic session to discuss how Sri Lanka can transform its economy through the adoption of technology.

Jaguar E-Pace Tested In World’s Most Extreme Conditions

From the freezing Arctic Circle to the dust and heat of Dubai, the Jaguar E-PACE has been subjected to a diverse testing programmes, ensuring it is not only a driver’s car but a dynamic and entertaining 

Allianz Lanka Delivers Greater Returns to Policyholders

Allianz Life Insurance Lanka (Allianz Lanka) registered steady growth in returns to policyholders on itsinvestment linked life insurance policies which delivered dividends (/ a crediting rate) of 8.5%for the 

MEC And Maxus Announce ‘Newco Sri Lanka’ Leadership

Tim Castree, Global CEO of MEC and GroupM’s ‘NewCo’ today announced that Namalie Herath, General Manager, MEC Sri Lanka will take on the role of CEO of the newly combined MEC and 

FAO and the Ministry of Education support school garden initiative for better nutrition in Sri Lanka

The Food and Agricultural Organization of the United Nations (FAO) together with the Ministry of Education hosted a ceremony on Tuesday, 4 July 2017at Wijerama Maha Vidyalaya in Udahamulla, 

Mine to Market to Fame – The Story of Sri Lanka’s Gem Industry

As old as civilization itself the Sri Lankan Gem Industry currently ranks with those of Myanmar, Brazil, South Africa and Thailand as one of the world’s most prominent gem-bearing nations. Swathed in the

Budget deficit in first four months narrows marginally

The government’s budget deficit for the first four months of 2017 edged down 0.1 percent to Rs.233.17 billion compared to the same period in 2016, falling short of expectations for the period, Treasury data indicated.

Dialog launches Sri Lanka’s first tier III certified data centre and media hub

Dialog Axiata recently announced the commissioning of Sri Lanka’s first tier III certified data centre and media hub. 

WB says SL’s tax collection system improved

Sri Lanka’s structural tax collection system had become more efficient in 2016 than was evident at first glance, once the super gains tax and other one-off taxes levied in 2015 are discounted, the World Bank said.

Auditors slam Agalawatte accounts

Agalawatte Plantations PLC (AGAL) had continued its sub-standard accounting practices in 2015, the firm’s auditors said in the audited financial statements for the year, after earlier this year stating the same had happened during 2014.

Another BoP crisis in the making?

Conveying a worrying message to the authorities, the most recent external sector data available up to April showed that a swift action was required to arrest the ballooning trade deficit as the recent uptick in exports has been offset by the racing imports during the first four months.  

SL gets Rs.60bn Japanese concessional loan for rural infrastructure, water supply

The Japanese government through Japan International Cooperation Agency (JICA) will provide a Rs.60 billion concessional loan to Sri Lanka for rural infrastructure development and water supply projects. 

Maersk Colombo office overcomes mass cyber attack

Global shipping giant A. P. Moller-Maersk (Maersk), which is also the market leader in Sri Lanka, appears to have dealt with the recent mass cyber-attack smoothly in Colombo, shipping industry sources said.

Schokman and Samerawickreme to launch SL’s first online auction portal

Revolutionizing the local auction industry, auctioneers Schokman and Samerawickreme will be introducing Sri Lanka’s first online auction portal which is billed to go live by  next month.