Spanish govt. pledges assistance to expand investment in Sri Lanka

Spain has well recognized the foreign policy of Sri Lanka and it has helped much to strengthen diplomatic ties between Spain and Sri Lanka, says Ambassador of Spain in Sri Lanka Jose Ramon Baranano Fernandez.

Global debt surges to over US$ 28,000 per person

Global debt has grown by US$75 trillion to $217 trillion in the decade since the 2007-08 financial crisis, reaching US$28,900 for every man, woman and child in the world according to a new report. Global debt levels surge.

Rupee steady on exporter dollar sales; stocks up

REUTERS: The Sri Lankan rupee traded steady yesterday as mild importer dollar demand was offset by greenback sales by exporters and banks, while expectations over a rise in imports pressured the local currency, dealers said.

PUCSL asks CEB to develop 12 new electricity generation expansion plans

Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator has asked the Ceylon Electricity Board (CEB) to develop 12 new scenarios which will provide different power plant combinations to generate electricity for next 20 year and submit the plans on or before 07th of July 2017.

Asian markets hit by Central Bank signals to end low rates

AFP: Asian markets went into reverse yesterday after Wall Street and Europe suffered hefty losses in response to Central Banks’ signals that the end to the era of cheap money was drawing near.

ICEI-Overseas with Ecowave open ‘Spice Unit’ to improve marginalized farmer livelihoods

ICEI and Overseas, international organisations together with ‘Ecowave’, which is a local social enterprise, had successfully worked on areas of rural development and eco-tourism in Sri Lanka since the year 2005. 

NCE appreciates late Dr. Kelegama’s invaluable service to Lankan exporters

The late Dr. Saman Kelegama was a highly regarded intellectual and professional who was closely associated with the National Chamber of Exporters of Sri Lanka (NCE) almost from the inception and rendered yeoman services to the chamber over the years in support of efforts to provide services to Sri Lankan exporters to develop exports. 

Japan provides Rs. 3,422 mn grant aid to establish weather radar network

In accordance with the long term economic cooperation between Sri Lanka and Japan, the government of Japan has agreed to provide grant assistance of Japanese Yen 2,503 million ( Approximately Rs. 

DFCC Bank recognised at LankaPay Technnovation Awards 2017

DFCC Bank bagged two merit awards at the LankaPay Technnovation Awards 2017, Sri Lanka’s first and only payment technology innovation awards, organized by LankaClear Ltd. Held at the Balmoral

The Other Side of the Glistening Story

When glancing at a glittering jewel or an intricate piece of jewelry, one rarely pauses to think of the tale that lies behind the glimmer and shimmer. 

Litro Wins – “Best Digital Integrated Campaign” Award at SLT Zero One Awards

The national LP Gas supplier in Sri Lanka – Litro Gas was awarded the “Best Digital Integrated Campaign” at Sri Lanka’s first Digital Excellence Award ceremony – SLT Zero One Awards organized 

The second edition of Fashion Films at Swim Week Colombo

Swim Week Colombo, with its title partner Olu Tropical Water presents the second edition of Fashion Films at Swim Week Colombo. A collaboration of  two creative streams of fashion and films where

Theagarajah appointed as new Ceylon Chamber Chairman

The Ceylon Chamber of Commerce appointed Rajendra Theagarajah as its new Chairman during its 178thAGM held yesterday in Colombo. 

Govt. mulls bringing in foreign expertise to negotiate FTAs

The government may have to attract foreign expertise in order to wrap up the free trade agreement (FTA) negotiations with China, India and Singapore, Sri Lanka’s Foreign Affairs Minister Ravi Karunanayake said this week.

Proposed asbestos ban a costly affair, says report

A research study yesterday revealed that the proposed ban of chrysotile, a key element used to manufacture roofing sheets, popularly known as asbestos, would have a number of negative socioeconomic consequences to Sri Lanka.

Companies non-compliant of public float rules to face punitive actions from July, next year

The Colombo Stock Exchange (CSE) is to take punitive actions against the listed entities which fail to meet the minimum public floating rules even after the grace period, by way of transferring them to the ‘Watch List,’ but the instructions given by the Securities and Exchange Commission (SEC) appear to have offered a further 12-month period before such actions are enforced. 

Rupee ends weaker on importer dlr demand

REUTERS: The Sri Lankan rupee ended weaker yesterday due to dollar demand from importers and as an expected rise in imports pressured the local currency, dealers said.

Central Bank curbs consumer lending as household indebtedness spikes

The Central Bank says Sri Lanka’s households are increasingly getting enmeshed in a vicious debt spiral as a result of heavy consumption borrowings, which are neither productive nor sustainable, hence vowed to squeeze such lending flows.  

SriLankan wins right to run own on-board duty free operations

SriLankan Airlines has won rights to carry out its own on-board duty free operations as the Commercial Court of Colombo last week refused interim injunctions sought by DFP Canada Ltd. against the national carrier.

Shares end slightly higher on foreign buying; tax bill weighs

REUTERS: Sri Lankan stocks edged higher yesterday led by shares of diversified companies as foreign buying continued, while concerns over a proposed tax bill weighed on overall  investor sentiment.

SL to host first Asian Business Angel Forum

Sri Lanka will be hosting its first Asian Business Angel Forum (ABAF) 2017, in October with the participation of some of Asia’s most prominent Angel investors, venture capitalists, high networth individuals and other key stakeholders. 

Strong Lankan sales wins Gestetner best performance in Ricoh Asia Pacific

Building on its winning legacy, Gestetner of Ceylon PLC once again won resounding recognition for its tremendous sales performance over the past year, rising above its peers in the Asia Pacific region to win the Ricoh  Asia Pacific Award for Outstanding Achievement in Units & Sales Revenue FY 2016 in Multi-Functional Products (MFP).

7 Star Flour becomes first wheat flour brand to receive SLS certification

Two 7-Star wheat flour variants in the Serendib Flour Mills (SFML) portfolio recently received SLS certification from the Sri Lanka Standards Institution (SLSI), making 7 Star Flour, the first wheat flour brand in the country to receive the certification for meeting the necessary quality standards. 

SLT wins the C Division Mercantile League Football Championship 2017

Sri Lanka Telecom team clinched the C Division championship at the recently concluded Mercantile Football Tournament at the City League grounds. The win illustrates the organization’s commitment 

Serendib Flour Mills’ 7 Star Flour – the 1st wheat flour brand in the country to receive SLS Certifi

Two 7-Star wheat flour variants in the Serendib Flour Mills (SFML) portfolio recently received SLS certification from the Sri Lanka Standards Institution (SLSI), making 7 Star Flour, the first wheat flour 

Evolve Technologies Opens A Brand New Branch In Japan

Evolve Technologies (Pvt) Ltd recently expanded its global presence with its latest subsidiary company- Evolve Technologies JAPAN Co. Ltd, incorporated in Japan. A brand-newoffice was 

Govt. mulls bringing in foreign expertise to negotiate FTAs

The government may have to attract foreign expertise in order to wrap up the free trade agreement (FTA) negotiations with China, India and Singapore, Sri Lanka’s Foreign Affairs Minister Ravi Karunanayake said yesterday.

Shares end marginally lower; foreign buying nears Rs.22bn

REUTERS: Sri Lankan shares closed slightly lower yesterday as blue chips fell, but foreign buying capped losses while local investors continued to wait for more clarity on a new tax bill.

Ube Singapore ups stake in Tokyo Cement

Ube Singapore Holdings Pte. Ltd has upped its stake in Tokyo Cement Company (Lanka) PLC, a joint venture between Sri Lanka’s St. Anthony’s group and Japan’s Nippon Coke.

Rupee ends weaker on importer dlr demand

REUTERS: The Sri Lankan rupee ended weaker yesterday on late dollar demand from importers while the rupee was under pressure on an expected rise in imports, dealers said.