Siddhalepa.com presents better online shopping experience

With just a few clicks, customers can now visit the exciting world of ayurveda shopping with the re - launched Siddhalepa.com website.

Laojee affirms position as No.1 selling brand of tea in Sri Lanka

In an industry crowded with many brands, Laojee has been able to maintain a winning streak in Sri Lanka’s branded  tea segment. 

‘Ride with Richlife’ holds first draw

Renuka Foods rolled out an exciting and unusual competition to encourage consumers seeking a handy-sized, delicious thirst quencher to enjoy its popular range of Richlife milk in vanilla, chocolate, strawberry and ice coffee flavours. 

Jockey exclusive store opens in Kandy

Jockey’s exclusive stores showcase the range and depth of all the brand’s products and are best suited to cater to discerning customers. 

Sri Lanka Investment Conclave to see investors, biz partners from over 20 countries

The upcoming Sri Lanka Investment and Business Conclave 2017 has seen interest from investors and business partners from over 20 countries, who are looking for opportunities in diverse sectors of the local economy.

Rupee ends marginally higher as banks sell dollar

REUTERS: The Sri Lankan rupee ended slightly higher yesterday as a foreign and a local bank sold dollars, offsetting importer dollar demand, dealers said.

LTL procures contract to build 100 MW power station in B’desh

Lakdhanavi Limited, which is the power generation arm of LTL Holdings Group, has been awarded another contract by the Bangladesh Power Development Board (BPDB) to construct a 114 MW thermal power plant using heavy fuel oil (HFO).  

Tea output rises 20% in April

REUTERS: Sri Lanka’s tea output rose 20 percent in April compared to a year earlier after rains ended a six-month drought that had lasted to February, the state-run Tea Board said yesterday.Production in the first four months of the year edged up 1.8 percent compared to the same period last year. 

Sri Lanka set to receive US $ 200-300mn Malaysian FDI next few years: envoy

The Malaysian High Commission in Sri Lanka is working to catalyze around US $ 200-300 million in foreign direct investment (FDI) from Malaysia to Sri Lanka over the coming years. “Our target is to bring around US $ 200-300 million in investments to Sri Lanka over the next few years,” Malaysian High Commissioner in Sri Lanka Zaidi Wan Abdullah said, noting that this is a fraction of the US $ 15 billion FDI outflows from Malaysia.

Shares fall on profit-taking in blue chips

REUTERS: Sri Lankan shares edged down yesterday as investors booked profits in blue chips such as John Keells Holdings PLC, with analysts saying the market was waiting for policy direction from newly-appointed Finance Minister Mangala Samaraweera.

Tourism Minister unsure of return on investment of foreign tours by officials

Tourism Development and Christian Affairs Minister John Amaratunga shied away from accounting for the numerous foreign tours of tourism officials at the cost of millions of rupees in taxpayer money over the past two years despite noting their lack of contribution to Sri Lanka’s tourism industry.

Colombo bourse among top 10 performers in April

The Colombo Stock Exchange has been ranked 9th among the 10 best performing equity markets in the world for the month of April, Bloomberg statistics show. 

SriLankan poised to become largest foreign carrier to India

SriLankan Airlines will have the largest network in India for a foreign airline with the addition of three new routes in July as a part of its regional expansion plans, the national carrier’s head told the Pacific Asia Travel Association (PATA) Annual Summit that concluded in Negombo yesterday. 

Govt. not prepared to further increase people’s tax burden: Ravi K

It is up to the people to decide whether to obtain more foreign loans as the previous regime did or to increase government revenue in order to reduce tax burden currently being put on them, Finance Minister Ravi Karunanayake told a gathering in Colombo. 

Amana Bank gets regulatory nod to bring in fresh capital with exception to single shareholder limit

In yet another exception to the banking sector single shareholder limit, the Central Bank has allowed one of the shareholders of Sri Lanka’s Amana Bank PLC to own up to 30 percent of the issued shares of the bank. 

Saudi says extending oil cuts, adding small producers enough to drain stocks

REUTERS: Saudi Arabia’s energy minister said yesterday that extending the current agreement on global oil supply cuts until March next year, and adding one or two small producers to the pact, should be enough to reduce oil inventories.

Australia declares game-up for ‘fake refugees’

AFP: Australia yesterday gave 7,500 boatpeople until October to file a claim proving they are genuine refugees or be kicked out, declaring the ‘game is up’ for illegal arrivals ripping off taxpayers.

Positive outlook for exports in first quarter of 2017

Sri Lanka’s economy grew by 4.4 percent during the year 2016, although slightly low compared to 2015, amidst internal and external shocks that impacted on the economic growth of the country. As a whole, the external sector contribution to gross domestic product (GDP) was little less, mainly du

Haycarb March profit up; but drop in coconut crop felt

Haycarb PLC, the activated carbon manufacturer of the Hayleys group, saw its net profit for the quarter ended March 31, 2017 (4Q17) rising by 17.3 percent to Rs.297 million from a year ago amid rising charcoal prices, the interim financial accounts showed. 

Eagle Logistics strengthens automotive logistics arm with Tiger Logistics India

Automotive logistics is one of the strongest products of Eagle Logistics for the last 10 years handling many corporate customers in Sri Lanka. Recently it had its partners’ conference in Colombo with Tiger Logistics to further strengthen its relationship for automotive business between India and Sri Lanka.

DIMO-Mahindra introduce Yuvo tractor range to local farmers

Diesel & Motor Engineering PLC (DIMO), together with India’s Mahindra & Mahindra Ltd’s Farm Equipment Sector (FES), launched the new range of tractors - Mahindra Yuvo to the local farmers recently. 

SL-China ties deepen further with first Guangxi Economic and Trade Cooperation Forum

The friendly handshake between China and Sri Lanka got firmer yesterday with a large delegation from Guangxi having arrived in Colombo to engage in discussions and exchange proposals to further  boost trade.

Rapid growth of Malaysia's economy

Malaysia’s Central Bank Governor Muhammad Ibrahim delivering his address announcing the first-quarter GDP growth results at the Bank Negara offices in Kuala Lumpur yesterday. Malaysia’s economy grew at its fastest pace in two years during the first quarter, the central bank said on May 19, boosted by stronger domestic demand and a pick-up in exports (AFP)

US oil output back near records, challenging OPEC

AFP: American oil production is approaching record levels again, led by shale projects, potentially foiling efforts by OPEC to support prices.

US launches investigation into Canadian aircraft imports

AFP: The Trump administration Thursday launched an investigation into planned imports of Canadian aircraft, following a complaint last month by US aviation giant Boeing that the planes receive unfair subsidies.

After 10-year gap, Thai lotuses bloom again

AFP: For the first time in a decade a Thai lake has given up its dazzling secret- the pink blooms of tens of thousands of lotuses.

S&P raises Indonesian credit rating to investment grade

AFP: Standard & Poor’s raised Indonesia’s sovereign credit rating to investment grade yesterday, in line with the other two major rating agencies, in a move likely to attract more investment into Southeast Asia’s top economy.

US agency votes to roll back broadband ‘neutrality’ rules

AFP: US regulators voted this week to scrap a 2015 order aimed at forcing broadband firms to treat all online traffic equally, in the latest turn of the politically charged ‘net  neutrality’ debate.

Rupee falls on importer dollar demand

REUTERS: The Sri Lankan rupee fell yesterday on importer dollar demand and fewer exporter conversions, even as investors said the currency could weaken further after the Central Bank decided to buy dollars directly from the market to boost reserves.

People’s Bank presents Budha Pudha Vandana Vesak Bakthi Gee programme

The People’s Bank Arts Circle recently organised Budha Pudha Vandana Vesak Bakthi Gee in lieu of the Vesak festival.