Over 700 B2B meetings expected during top business and investment forum

Over 700 B2B meetings will take place between Sri Lankan and foreign businesses, who will take part in the ‘Sri Lanka Investment & Business Conclave 2017’, which will commence tomorrow, in Colombo. 

New port boosts Djibouti’s dream to be maritime hub

AFP: East Africa’s smallest country Djibouti took a step towards realising its dream of becoming a continental maritime cargo hub with the inauguration of its newest and largest port, recently.

Lankem group buys injection moulding firm

Lankem Ceylon PLC, which has interests in chemicals, paints, agri-inputs, consumer, packaging and leisure sectors said, it bought a company engaged in the business injection moulding, a manufacturing technology used to make a wide range of plastic products.

Dialog invites customers to contribute towards flood relief

Dialog Axiata extending its successful flood relief programme in 2016, where Dialog customers donated Rs. 15 million and Dialog added a further Rs. 50 million towards helping those affected by floods and landslides, invites yet again it’s valued subscribers to contribute towards helping our fellow Sri Lankans affected by the ongoing natural disaster. 

Abans launches Hugo Boss –first luxury brand to enter Sri Lanka

Abans Plc, a subsidiary of the prestigious Abans Group of Companies, has been announced as the authorized distributor for Hugo Boss, the first luxury brand to have retail presence in Sri Lanka.This milestone epitomizes Abans’ commitment towards introducing high-caliber, globally acclaimed brands that add quality, sophistication, and value to the lives of Sri Lankan consumers.

New Ashford International helps upgrade Sugathadasa Stadium

Earlier last month, the Sugathadasa National Sports Complex Authority made great strides in the development process of the Sugathadasa Stadium located in Colombo by partnering with New Ashford International (Pvt) Ltd, an enterprise specializing in the sales and service of material handling equipment, compressed air equipment and racking systems. 

Vista Advertising named creative partner for Bradby Fiesta

The Colombo leg of the Bradby Shield is extra special as a ‘carnival like’ atmosphere prevails at Reid Avenue as another edition of the Bradby Fiesta takes place on June 3rd.

Fonterra’s Rs. 2 bn investment creates sustainable impact across dairy value chain

Fonterra Brands Sri Lanka is seeing sustainable returns from its ten-year plan to build a thriving dairy industry and improve access to locally-made dairy products.

Virtusa Announces Fourth Quarter and Full Year 2017 Consolidated Financial Results

Virtusa Corporation( NASDAQ GS: VRTU), a global business consulting and IT outsourcing company that accelerates business outcomes for its clients, reported consolidated financial results for 

Trump-Germany salvo raises EU-US trade fears

AFP: US President Donald Trump has launched a salvo against German car exports to the United States, officials confirmed yesterday, in the latest sign of simmering transatlantic trade tensions.

Rupee ends firmer on dollar selling by banks

REUTERS: The Sri Lankan rupee ended slightly higher yesterday as dollar selling by banks surpassed importer demand for the U.S. currency, traders said.

IMF sets tough new Ukraine loan demands

AFP: The International Monetary Fund said yesterday it will only release a new tranche payment to Ukraine once parliament approves a long-stalled pension system overhaul and land privatisation legislation.

Asian energy firms sink as OPEC output deal disappoints

AFP: Energy firms took a hit yesterday after crude prices plunged almost five percent the previous day as traders were left disappointed by OPEC’s latest output cuts.

Iconic Developments reiterates confidence in Sri Lankan real estate outlook

Leading South Asian property developers, Iconic Developments (Pvt.) Ltd. reiterated its confidence in the growth outlook of the Sri Lankan real estate sector, following recent concerns as to the pace of growth in the sector.

Shares end lower on profit-booking; John Keells falls

REUTERS: Sri Lankan shares ended lower yesterday, recording their first weekly decline in nine, as investors booked profits in shares of diversified companies such as John Keells Holdings Plc and Melstacorp Plc.

Edirisinghe Cushion works opens new Negombo branch

The leader in vehicle cushion work Edirisinghe Cushion Works opened its new branch on Colombo Road, Kurana, Negombo recently.

ComBank and World Mastercard rock MLTR concert with draw for iPhone 7

Fans of Michael Learns to Rock had a blast at the Danish soft rock band’s sold-out concert in Colombo on May 18, but one of them had more to cheer about – an iPhone 7 from Commercial Bank, the official banking partner for the event.

BMICH staff presents Bakthi Gee

For the first time in the 44-year history of the BMICH, 30 staff members from across all departments came together to present an evening of Bakthi Gee on the Vesak Poya day to commemorate the 14th United Nations International Day of Vesak. The performance was held at the entrance to the BMICH premises where the ‘Bakthi Gee’ singing was enjoyed by the large crowds visiting the Baudhdhaloka Vesak Kalapaya 2017.

Asiri Health commemorates Vesak with unique, caring gift

Vesak, commemorating Lord Buddha’s birth, attaining enlightenment and death, has become a national event in our country. Devotees keenly engage in meritorious acts including organising events such as pandals and dansals.  

99X Technology Quiz Team crowned Biz Quiz 2017 Champions

After hours of tense battle among some of the most knowledgeable masterminds in the corporate sector, the 99X Technology Quiz Team emerged victorious and was crowned the Overall Champions at the fifth Glitz Biz Quiz, in addition to sweeping up the Sector Award for the IT and Software Category – retaining this title for the fifth consecutive year.

Hilton Colombo Participates in Hilton’s Largest Annual Global Career Initiative

Hilton Colombohas taken part in Careers@Hilton Week, Hilton’s annual global career event showcasing the many opportunities available in the hospitality industry for youth and other job 

Top economist portrays SL’s economic ills with colourful metaphor

The ostriches, lame ducks and Icaruses in the government must be caged for it to take flight like a flamingo and transform the dead economy into a competitive Asian Tiger, a senior economist in the country told a forum in Colombo, this week. 

Commerce Minister refutes Lanka Sathosa privatization rumours

Industry and Commerce Minister Rishad Bathiudeen yesterday rubbished rumours about a possible privatization of the state owned Lanka Sathosa chain to a diversified conglomerate in the country. 

Court orders notice be gazetted to liquidate Lanka Sugar

Commercial High Court ordered that a notice be gazetted to the effect that a case had been filed to liquidate Lanka Sugar Ltd. 

Watawala March profit soars as tea segment returns to profit

Watawala Plantations PLC group, which owns and runs tea, rubber and palm oil estates, reported earnings of 89 cents a share or Rs.211.8 million in after-tax profits for its fourth and final quarter ended in March 31, 2017, recording an increase of 168 percent year-on-year (YoY), the interim results released to the Colombo bourse showed. 

Sri Lanka to unveil new Private–Public Partnership unit during top business gathering

Sri Lanka will launch its Private –Public Partnership (PPP) Unit, set up through a Cabinet decision at the upcoming ‘Sri Lanka Investment and Business Conclave 2017’, which will take place on the 30th May to 01st June 2017, in Colombo.

MMBL-Pathfinder and ITC subsidiary to develop mid-market hotel chain in Sri Lanka

MMBL Leisure Holdings (Pvt.) Ltd. a subsidiary of the MMBL-Pathfinder Group and WelcomHotels Lanka (Pvt.) Ltd., a subsidiary of ITC Limited, India, have inked a Memorandum of Understanding to develop a mid-market hotel chain in Sri Lanka.

China says new Silk Road not about military ambitions

BEIJING: China’s ambition to build a new Silk Road is not about seeking to expand its military role abroad nor about seeking to set up foreign bases, the Defence Ministry said yesterday.

Moody’s cuts China’s credit rating first time in 30 years

AFP: Moody’s this week slashed China’s credit rating for the first time in almost three decades citing concerns about the country’s rising debt and slowing growth, but Beijing rejected the downgrade as ‘inappropriate’.

Cabinet approval for hybrid energy park in Punarin

The government plans to build a hybrid energy park consisting of 240 megawatt (MW) of wind power and 800 MW of solar power plants in Punarin.