SL’s manufacturing and services activities see recovery in May

Sri Lanka’s manufacturing activities saw a recovery in the month of May, following a prolonged holiday season in April, while services sector activities also showed a modest acceleration.

Sri Lanka ranked 90th most innovative nation in world

Sri Lanka is ranked as the 90th most innovative nation in the world this year, showing a one-position improvement from last year, according to the United Nation’s Global Innovation Index report released yesterday.  

Shares hit 3-wk high as blue chips gain

REUTERS: Sri Lankan shares rose yesterday to hit a near three-week closing high as heavyweights John Keells Holdings Plc and Commercial Bank of Ceylon Plc gained.

Oil mafia rearing head in Ceylon Electricity Board’s long-term power generation plan: expert

The ‘oil mafia’ is rearing its head in the Ceylon Electricity Board’s ‘2018-2037 Least Cost Long Term Generation Expansion Plan’ (LCLTGEP) to destabilize reliable power generation, according to experts who spoke at the Public Utility Commission of Sri Lanka’s (PUCSL) public consultation event on the LCLTGEP, held yesterday at the BMICH.

Dart Global gets land in Sri Lanka logistics zone

ECONOMYNEXT: Dart Global Logistics has won a 30-year lease on a two-acre block of land in Muthurajawela, a marshland North of the Colombo port, part of which has been declared a logistics zone

Rupee ends weaker on importer dollar demand

Reuters: The Sri Lankan rupee closed slightly weaker yesterday as dollar demand from importers outweighed selling of the U.S. currency by exporters, dealers said.

Hayleys launches online tea portal to mark Ceylon Tea’s 150th anniversary year

The Hayleys group announced its entry into digital marketing e-commerce platform through the launch of its latest website www.hayleystea.com, to promote the finest garden fresh Pure Ceylon Teas from its own tea estates Kelani Valley and Talawakelle under Mabroc brand. The launch coincides with the 150th anniversary celebrations of Ceylon Tea. 

Lewie Diasz presents first copy of his new book to President

‘Marketing & Business Strategy’ authored by Lewie Diasz will be launched on June 19th at the Sri Lanka Foundation Institute. 

Second round winners of Caltex Star Drive competition awarded

The second two winners of Caltex ‘Star Drive – Car and Bike Chase’ received their brand-new Bajaj Discover 125cc motorcycles plus a year’s worth of free engine oil at an event held at the Chevron House in  Colombo 3 recently. 

Cook food to delicious perfection with LG Neo Chef

Flawlessly executing your favourite recipes within a short time span can often be an arduous, even impossible task. Yet, with the all new LG Neo Chef range recently launched by Abans, quickly preparing a diverse variety of perfectly cooked dishes can be made possible.  

Green Agro-Gro facilitates healthy life through eco-friendly farming

Living with nature is a lifestyle that is healthy for us and the environment. What exactly is a healthy lifestyle? Simply put, living in a good natural environment, having a healthy diet, doing good deeds for the earth. 

Kotmale joins Cargills Food City to celebrate World Milk Day

Kotmale Sri Lanka’s leading dairy brand joined Cargills Food City Sri Lanka’s leading supermarket chain, to celebrate the World Milk Day recently. 

Certis Lanka celebrates 40 years of excellence

Commercial and industry security specialists, Certis Lanka Group that offers a myriad of different services and who are the premier service provider in loss prevention services in Sri Lanka, will be celebrating their 40th anniversary and awards night at an awards ceremony to be held at the Hilton

Swim Week Colombo unveils new position Green Conscious & Earth Sensitive

Swim Week Colombo 2018, presented by OLU Tropical Water, will showcase the latest swimwear collections of eleven progressive Sri Lankan designers and three international designers.

Virtusa Wins2017 Pega Partner Award for Partner Excellence in Thought Leadership for the Agile Enter

Virtusa Corporation (NASDAQ GS: VRTU), a global business consulting and IT outsourcing company that accelerates business outcomes for its clients, today announcedit has received the 2017 Pega 

Coca-Cola Reinvigorates Pilgrims On Poson Pilgrimage

Coca-Cola Beverages Sri Lanka Ltd. continued its proud tradition of refreshing pilgrims on their annual Poson Poya pilgrimage to the ancient capital of Anuradhapura. Coca-Cola set up kiosks, this year too,

Sri Lanka housing loans on rise: Fitch

In what appears to be an interesting revelation, Sri Lankans are seen increasingly borrowing to meet their housing needs defying the rising borrowing costs, as they seem to perceive more value in the money spent on a long-term asset created today than a deferred spending.       

Colombo City Centre to house Sri Lanka’s first-ever six-screen multiplex

Colombo City Centre (CCC), which is currently under construction, this week entered into an agreement with the local brand, Scope Cinema, to house Sri Lanka’s first-ever six-screen multiplex within CCC with an investment of Rs.350 million, which would acquire 16,000 square feet for the project.

Hayleys, Seylan, Tokyo Cement enter S&P Sri Lanka 20 Index

Hayleys PLC, Seylan Bank PLC and Tokyo Cement Company (Lanka) PLC have been included among the latest S&P Sri Lanka 20 Index compiled by S&P Dow Jones Indices, as a result of the mid-index rebalance that has been carried out.

Shares retreat from 5-1/2-week closing low; JKH leads

RUETERS: Sri Lankan shares yesterday bounced from their five-week closing low hit in the previous session, led by gains in conglomerate John Keells Holdings PLC and with foreign investors buying into the island nation’s risky assets.

Removing domestic barriers could cut export costs by 25-30%: report

Removing the domestic barriers to trade could cut the cost of Sri Lankan exports by 25 to 30 percent, according to the Colombo-based think tank Verité Researc

High Speed Railway Corp. gears to introduce maglev technology to Sri Lanka

High Speed Railway Corporation (Pvt.) Ltd (HSRC), a company that plans to develop high-speed rail in Sri Lanka, has partnered with Castlepines Global Equities (CGE) (Japan office), an international equity investment company, in a bid to introduce the magnetic levitation (maglev) technology to Sri Lanka.

Canadian High Commission hosts 26th AGM of SLCBC

The High Commission of Canada, as patron of the Sri Lanka Canada Business Council (SLCBC), hosted the 26th Annual General Meeting (AGM) of the SLCBC on June 13. 

Two teams from Leo Burnett to vie at the Cannes Young Lions Competition

Two teams comprising a total of four Burnetters were recently selected to represent Sri Lanka at the Young Lions competitions at the 64thCannes Lions International Festival of Creativity which will take

Celebrate Father’s Day with your Super Dad at Hilton Colombo

Bring your super dad over to the Graze Kitchen on the 18th of June 2017 from 12 noon to 3 pm to celebrate father’s day with a scrumptious brunch, unlimited brew along with a fabulous backdrop 

ComBank launches ‘Digital Banking Week’ to promote digital services

The Commercial Bank has commenced a week-long push at nine key branches to promote the use of the bank’s digital banking platforms such as online banking, mobile banking, e-Passbook and automated banking. 

Sri Lanka’s housing loans on rise: Fitch

In what appears to be an interesting revelation, Sri Lankans are seen increasingly borrowing to meet their housing needs defying the rising borrowing costs, as they seem to perceive more value in the money spent on a long-term asset created today than a deferred spending.            

Leasing companies’ future profits under pressure due to bank borrowings, stringent regulations

Sri Lanka’s leasing companies are likely to experience a decline in profits in the future due to their greater reliance on bank borrowings and heavier regulations, a top official of a leading finance company in the country opined.  

ComBank in US $ 15mn swap deal with IFC to hedge interest rate risk

International Finance Corporation (IFC), a member of the World Bank Group, and Sri Lanka’s Commercial Bank of Ceylon PLC has entered into an interest rate swap arrangement for a notional amount of $15 million, IFC communiqué said. 

Budget deficit in 1Q widens 10%; revenue up 26%

Sri Lanka’s budget deficit for the first quarter of 2017 widened 10.49 percent year-on-year (YoY) to Rs.199.67 billion, on the back of high capital expenditure although the primary balance recorded a healthy decline due to an increase in tax collection.