Economist urges govt. to implement fuel pricing formula as oil prices continue to remain low

The government should implement its proposed fuel pricing formula while the conditions are favourable in order to create stronger macroeconomic fundamentals, an economist said.

ADB says looking for Lankan banking sector investments despite HNB hitch

While the tussle within Hatton National Bank PLC (HNB) continues with regard to issuing 10 percent of its shares to the Asian Development Bank (ADB), the development lender said it is continuing to evaluate other banking sector investment opportunities in Sri Lanka. 

Softlogic LifeStyles: Official interior partner-Home and You Lifestyle Fair 2017

Softlogic LifeStyles became the official interior partner for Home and You Lifestyle Fair 2017 which is all set to bring everything you need to create the perfect surrounding at the place you live.

SLTDA grades eating places in Colombo

Sri Lanka Tourism Development Authority (SLDA) in collaboration with the Ministry of Health and Colombo Municipal Council has launched a project to encourage the upgrading of food safety, hygiene and service of eating places supplying food for foreign and local tourists.

Technology like ThreadSol: Key to accelerate Sri Lanka’s clothing exports

The textile and garment industry in Sri Lanka depends heavily on imported raw material and accessories. More than 70 percent of the raw material and 70 to 90 percent of the accessories used in this industry are imported. 

Sadaharitha aids investors mitigate global warming

Sadaharitha Plantations are offering ‘eco-friendly’ investors the opportunity to help reduce greenhouse gas emissions that lead to global warming, while reaping a high return in the long term through commercial forestry. 

Strong Lankan sales win Gestetner best-performance in Ricoh Asia Pacific

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).

Condolence message by IPS board

It is with deep sadness that we, the members of IPS’ governing board, received the news of the sudden passing of the Institute’s Executive Director, Dr. Saman Kelegama. 

Laugfs launches Fujitsu dry cell batteries in Sri Lanka

Laugfs International (Pvt) Limited, the authorized agent for Yamaha and Airman power products and Denso automotive parts, has now further expanded its portfolio as the authorized sole distributor for Fujitsu dry cell batteries in Sri Lanka.

Siyapatha Finance to raise Rs.1bn via listed debt

Siyapatha Finance PLC, the finance company arm of Sampath Bank PLC, will go for a listed debt issue to raise Rs.1 billion.

Tunisian envoy discusses ways to enhance two-way commercial activities

Tunisian envoy to Sri Lanka Nejmeddine Lakhal says commercial ties between Sri Lanka and Tunisia should be enhanced, as two-way trade between the two nations stands at a negligible level at present.

DSI Sweeps 12 Awards at the National Quality &Productivity Convention 2017

With over 55 years of business excellence, DSI Samson Group proudly stands tall today as the country’s premier business conglomerate with 28 diversified subsidiaries. 

Singer launches most affordable 4K Ultra HD smart television series in Sri Lanka

Singer Sri Lanka, the country’s premier consumer durables retailer, added another innovative product to its portfolio with the launch of the ‘Singer Epic 4K Ultra HD Smart TV’ product series in Sri Lanka.

Emerald and AOD Look To Redesign Local Industry

Emerald International (Pvt) Ltd, Sri Lanka’s premier menswear brand, recently signed an MOU with the Academy of Design (AOD), Sri Lanka’s pioneer in Design Driven Innovation, to formalize their 

Gated Community Living – Becoming Popular in Suburban Sri Lanka

Sri Lanka has been rapidly developing since the end of a three-decade civil war. The political stability of the country and its infrastructure development has helped the economy progress over the last few

Modi set to go ahead with sale of Air India

Indian Prime Minister Narendra Modi is expected to give the go-ahead for the government to sell off loss-making Air India. It now has more than US $8 billion of debt — equivalent to the value of the company.

THASL wants members to rethink recruitment policies to attract millennials

The Hotels Association of Sri Lanka (THASL) is urging its members to rethink talent acquisition and management policies in order to make the leisure industry more attractive for millennials, as the tourism industry forges ahead on becoming the country’s leading income earner.

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. A disclosure by Lanka 

Singapore’s Somap to inject fresh capital to indebted Anilana Hotels

The indebted Anilana Hotels & Properties PLC said yesterday that Singapore-based Somap International Pte. Ltd. is currently carrying out a due diligence on the company to acquire 51 percent of its capital by way of an issue of new shares.

Motor vehicle registrations in May rebound; but down YoY

Vehicle registrations across most categories for May 2017 fell below levels experienced in May 2016 mainly due to new loan-to-value (LTV) ratio restrictions and higher interest rates, although registrations recorded a rebound from a slow April due to the extensive new Year holiday.

Sri Lanka Telecom Hosts ‘SLT Zero One Awards’ Ceremony

The 22nd of June 2017 saw Sri Lanka Telecom host the SLT Zero One Awards ceremony at the Grand Ballroom of Hilton Hotel in Colombo. The event was live telecast on PEO TV and all other

Nestomalt presents third car to lucky Ran Ratha Wasana winner

Nestomalt, Sri Lanka’s leading beverage brand for over five decades, announced the third lucky winner of its Ran Ratha Wasana raffle draw, Ms. B.W.C.K Jayasekara from Madawella, 

Blue Mountain wins 8 awards at the Asia Pacific Property Awards 2017

The Blue Mountain Group’s most iconic real estate development to date, Achilleion was recently recognized as one of the top three apartments in the Asia-Pacific region, at the Asia Pacific Property

Scan Products commends ‘Achievers of The Year’ recipients

The Scan Products Division, which comprises of the FMCG arm under C. W. Mackie PLC, held its Annual Sales Conference on the 5th and 6th of May , 2017 at the Club Palm Bay Hotel, Marawila.

Allianz Lanka Offers a Ray of Hope to Customers Affected By Floods

Sri Lanka faced one of the worst natural disasters in recent times in May this year. The floods and landslides had caused extensive damage to lives and property in 10 major districts around the island.

Coca-Cola Partners With Sri Lanka Red Cross For Emergency And Long-Term Flood Relief Operations In G

Coca-Cola Beverages Sri Lanka Ltd. joined hands with the Sri Lanka Red Cross Society - Gampaha Branch, to carry out intensive emergency disaster relief and rehabilitation activities following the

CB says Qatar-Gulf crisis could pose threat to remittance inflows

The Central Bank last week expressed concern over the prolonged diplomatic spat between Qatar and its Arab neighbours as the spillover effects of the development could hurt Sri Lanka’s biggest foreign exchange earner, worker remittances. 

IMF wants new Inland Revenue Bill in parliament to release third tranche

The International Monetary Fund (IMF), which held back the second tranche of the US $ 1.5 billion bailout package last year until the value-added tax (VAT) was raised from 11 percent to 15 percent, is now delaying the release of the third tranche until the government tables the new Inland Revenue Bill in parliament. 

Court refuses to vacate interim order on proposed sale of HNB shares to ADB

Business tycoon Harry Jayawardena last week managed to prevail against the attempts of the majority of the Hatton National Bank PLC (HNB) director board to vacate an interim order obtained by Jayawardena’s Stassen group to halt the process of gaining shareholder approval to issue HNB shares to the Asia Development Bank (ADB).

Step-up share transaction fee effective from today

A step-up share transaction fee structure introduced by the Colombo Stock Exchange (CSE) will come into effect today, the CSE said last week.