John Keells Research opens research lab at SLINTEC Nanotechnology & Science Park

The official opening of the research laboratory of John Keells Research (JKR), the R&D and innovation arm of John Keells Holdings PLC, was held recently.  

Pathfinder Foundation signs MoU with Chinese Communist Party think tank

The China-Sri Lanka Cooperation Studies Centre of the Pathfinder Foundation (PF) inked a memorandum of understanding (MoU) with the Chinese Communist Party-affiliated China Centre for Contemporary World Studies (CCCWS), which engages in research in international issues, study on political parties, political systems in foreign countries, China’s foreign strategies, socialist theories, trends in social and political thoughts and comparative s

DFCC Bank re-launches Vardhana Sahanaya to help rebuild communities affected by recent natural disas

DFCC Bank has re-launched Vardhana Sahanaya to help people affected by the recent natural disaster rebuild their lives in the aftermath. The 'Sahanaya' Loan Scheme was launched to provide 

TFO joins hands with BEES to initiate tree planting campaign in Galle.

Earth became the beauty it is because of the interaction between living things and their surroundings. The two has molded together life to create a balance of what we would call today as nature. The only 

DFCC and DIMO join hands to offer affordable leasing for Tata Vehicles

DFCC Bank recently signed a Memorandum of Understanding (MoU) with Diesel & Motor Engineering PLC (DIMO), to facilitate the leasing of Tata Vehicles at an affordable price, to customers across its 

Nestlé continues to enhance the livelihood of over 20,000 rural farmers

Milk farmers in the North-Central village of Seeppukulama will benefit from a milk chilling centre upgraded by Nestlé, offering them increased opportunities to sell their milk to the company. Nestlé is 

Hilton to Open First Upscale Resort in Weerawila, Sri Lanka

Hilton (NYSE: HLT) and DoubleTree by Hilton today signed a management agreement with KDU Adventures (Pvt) Ltd, a subsidiary of KDU Group (Pvt) Ltd, to manage the 140-­room DoubleTree by

WB forecasts accelerated growth for Sri Lanka

Sri Lanka’s economic growth could pick up to 4.7 percent in 2017 and further up to 5.0 percent in 2018 on the back of a reform programme supported by the International Monetary Fund (IMF), but the downside risks stem from extreme weather conditions and external shocks, the World Bank (WB) said in its latest report. 

Damro acquires further 10% stake in Pussellawa for Rs.2bn

Browns Capital PLC (formerly known as FLC Holdings PLC) disposed its remaining 9.9 percent stake in FLMC Plantations (Pvt.) Ltd to Piyestra Furniture (Pvt.) Ltd, a unit of Damro Group, for a consideration of Rs.1.95 billion

UAE’s, Saudi carriers to suspend flights to Qatar

AFP: UAE and Saudi carriers said yesterday they are suspending flights to Qatar after their countries announced a cut in ties with Doha, in an unprecedented regional crisis.

Shares fall on profit-taking in banks

REUTERS: Sri Lankan shares fell in thin trade yesterday on profit-booking in banking stocks while investors assessed the impact of recent deadly floods on exchange rate and inflation.

Raigam Salterns Rs.536mn rights issue facing ‘technical issues’: official

Raigam Wayamba Salterns PLC (RWSL), a part of the Raigam group, is currently facing delays in its rights issue designed to finance the merger with Eastern Salt Company (Pvt) Ltd., that belongs to the parent, due to ”technical issues,” top company officials said.

The Finance Company cuts losses 76% in 4Q

The troubled financial institution, The Finance Company (TFC), managed to cut its losses for the quarter ended March 31, 2017 (4Q17) by 76 percent year-on-year (YoY) to Rs.295.13 million through changes in impairment, the interim financial accounts showed. 

Rupee steady; importer dollar demand offsets exporter sales

REUTERS: The Sri Lankan rupee ended steady yesterday as importer dollar demand offset greenback sales by exporters, while investors assessed the extent of damage to the economy from the recent floods and landslides, dealers said.

Sirocco Air Technologies gears up for next phase of innovation

Sirocco Air Technologies, Sri Lanka’s most experienced ventilation solutions provider, is preparing for its next phase of growth by building strategic partnerships with its principals in Spain, Italy, Germany and Ukraine. 

Jinasena’s agricultural machinery becomes big hit in local market

Jinasena (Pvt) Limited, one of the leading water management systems and solutions providers in Sri Lanka, is making huge strides with their range of Agrimec branded agricultural machinery.

The Carbon Consulting Company announces new board members

The Carbon Consulting Company announced two new seats on their board of directors recently.  

Elite Radio & Engineering at Construction Expo

Elite Radio & Engineering Co., (Pvt) Ltd. sole agent for KDK brand fans participated at Construction Expo 2017 held at BMICH on 2nd, 3rdand 4th of June  as Gold Sponsor of the event. Seen here is CEO, Suren Kundanmal explaining the concept of Indoor Air Quality (IAQ) and safety features of KDK ceiling fans to Professor Chitra Wedikkara, Chairperson of Construction Expo 2017.

SLT Becomes the First Telco to Successfully Field Test Pre-5G LTE Advanced Pro Technology in South A

Sri Lanka’s No.1 ICT solutions provider and the licensed national backbone network operator, Sri Lanka Telecom, together with Huawei Technologies, has successfully carried out South Asia’s first 

Janashakthi Offers Free Breakdown Assistance to All Vehicle Owners Affected by Floods

Expressing its solidarity with all fellow Sri Lankans affected by the recent adverse weather conditions, Janashakthi General Insurance Limited announced that Janashakthi Full Option will be 

New leaf for Sri Lankan Cinema Experience –Scope Cinema

Scope Cinemas is currently at the forefront of cinema technology with its screens and sound systems at the Liberty being the most advanced in the island at present. Dedicated toward raising the 

Two and 3-wheelers drive April vehicle registrations

Two-wheelers and 3-wheelers continue to drive vehicle imports to Sri Lanka, which is already plagued with congested roads, unruly drivers and equally bad pedestrians, the latest data available for the month of April, showed. 

Toyota-supported flying car hopes to light Tokyo 2020 Olympic flame

REUTERS: Engineers, supported by Toyota Motor Corp, demonstrated their flying car on Saturday, which they hope will be able to light up the Olympic flame for the opening ceremony of the Tokyo 2020 Summer Games. 

Tougher operating conditions hurt Cargills March bottom line; full year profit up

Sri Lanka’s Cargills Ceylon PLC (Cargills) saw its group performance for the January-March (4Q17) quarter adversely impacted by the challenging operating conditions and one-off, non-recurring expenses, but the top-line remained intact.     

Seylan Development disposes Union Place property for Rs.730mn

Seylan Developments PLC completed its planned disposal of a block of land off Union Place last week for Rs.730 million, a disclosure to the Colombo Stock Exchange by the company stated.

Hemas to ask shareholders more time to utilize rights issue money

Diversified conglomerate, Hemas Holdings PLC, will be asking its shareholders for an extension of up to two and a half years to utilize the Rs.4.1 billion it raised through a rights issue in 2015, a disclosure to the Colombo Stock Exchange (CSE) stated.

CIC 4Q in red as higher borrowing and distribution cost weigh

CIC Holdings PLC (CIC), Sri Lanka’s leading crop and agricultural solutions provider, has recorded a net loss of Rs.200 million or a loss of Rs.2.11 a share for the quarter ended March 31, 2017 (4Q17) against a net profit of Rs.229 million year-on-year (YoY) as higher distribution and finance costs erased top line gains.

LankaClear stresses need to propel e-transactions, digital payments

As the average number of electronic transactions that happen in the country is only two transactions per point of sale (POS) machine a day, it was recently stressed that much more has to be done to propel electronic transactions in Sri Lanka and to promote digital modes of payments. 

Cargills Bank turns Rs.45mn profit in March amid better margins

Cargills Bank Limited, the banking unit of the Cargills group, turned a net profit of Rs.44.9 million or 5 cents a share for the January – March quarter, recovering from a net loss of Rs.85.7 million incurred during the corresponding quarter last year, the interim results released by the bank showed. 

Siyapatha Finance relocates Kurunegala branch

Siyapatha Finance PLC, one of Sri Lanka’s leading financial organisations and the largest fully-owned subsidiary of the Sampath Bank group, celebrated the relocation of its Metro branch in Kurunegala recently.