China hopes Sri Lanka fosters good atmosphere for projects

REUTERS: China hopes that Sri Lanka can create a good legal, security and public opinion environment for its investment projects in the Indian Ocean country, Premier Li Keqiang told his visiting Sri Lankan counterpart Ranil Wickremesinghe.

‘Skechers GoWalk 04’ gives flexibility and versatility to your walking

Walking is commonly regarded to be one of the best methods through which we could combat the adverse health conditions associated with a largely sedentary lifestyle. 

Pizza Hut and Visa join hands for pizza promo

Once again, Pizza Hut, Sri Lanka’s leading pizza brand and Visa, the global leader in payments technology, have come together to offer its customers the ever popular ‘Your Visa for free Pizza’ offer.

Sri Lanka PM eyes increased infrastructure investment from China: Xinhua

REUTERS(Beijing): Sri Lankan Prime Minister Ranil Wickremesinghe told Chinese President Xi Jinping yesterday that he welcomed increased Chinese investment in Sri Lanka’s major infrastructure projects, Chinese state media said.

UAE-based Lulu Group to inaugurate Lankan agri export centre today

UAE-based conglomerate Lulu Group will today inaugurate its state-of-the-art logistics and packaging centre that will be deployed to store, package and export fruit, vegetables and other commodities  from Sri Lanka.

Standard Chartered’s Regional CEO in town

Standard Chartered Bank’s Regional Chief Executive Officer for ASEAN and South Asia, and CEO of Commercial and Private Banking business globally, Anna Marrs, is on an official visit to the Colombo office. 

Manufacturing and services activities flat in April

Manufacturing and service activities remained flat in April as Sri Lanka was gripped by the island’s biggest holiday season, the SL Purchasing Managers’ Index (PMI) issued by the Central Bank Statistics Department indicated.

Hayleys Fabric 4Q in red but posts profit for full year

Hayleys group knitted fabric manufacturing unit, Hayleys Fabric PLC, turned a net loss of little under two million rupees or a loss per share of 1 cent from a profit of Rs.53 million a year ago for its January – March quarter  (4Q17) as the revenues remained flat while the administrative and finance  cost rose.

Elephant House powers ‘Bradby Fiesta 2017’

Adding to the vibe, grandeur and the festivities of one of the greatest and most anticipated games of school rugby, Elephant House has partnered with the Royal College Union, in presenting the 4th Bradby Fiesta.     

Laugfs Lubricants endorsed by country’s best motorsports stars

Demonstrating the company’s superior product offering, Laugfs Lubricants revealed its new brand identity and announced the brand’s latest campaign with the four esteemed brand ambassadors Dilantha Malagamuwa, Ushan Perera, Bathiya and Santhush. 

Johnson’s Baby named No. 1 Baby Care Brand at Brands Annual

Johnson’s Baby clinched the coveted top spot among Baby Care Brands in Brands Annuals 2017 for the fifth consecutive year recently.

Futureworld relocates to spacious location

Futureworld     announced the relocation of their store to a more spacious location. Futureworld Lanka (Pvt). Ltd was incorporated in 2009 backed by the prestigious Singapore-based Thakral Group. 

CTC’s tax contribution to govt. revenue up in 1Q17

The total taxes paid by Ceylon Tobacco Company PLC (CTC), which holds a virtual monopoly on manufacturing and distributing of cigarettes in Sri Lanka, has increased year-on-year (YoY) and quarter-on-quarter (QoQ) despite the concerns that the higher taxes and recent price hikes could ultimately hurt the government revenue.  

Depressed bourse pushes CSE to propose relaxed rules on public float

New regulations proposing to grant exemptions for the current minimum public shareholding rules have been proposed due to a stagnant bourse, the Colombo Stock Exchange (CSE) officials said.

Shares slip; investors await clarity on tax

REUTERS: Sri Lankan shares ended marginally lower yesterday, slipping from a near one-year high hit last week, as investors waited for some clarity after the Finance Ministry said a new tax structure is being considered under reforms.

Rupee edges down on dollar demand

REUTERS: The Sri Lankan rupee ended slightly weaker yesterday as importer dollar demand surpassed early greenback sales by exporters, dealers said.

Mass resignations from Lanka Hospitals director board

A significant change appears to have taken place in the boardroom of the state-controlled Lanka Hospitals Corporation PLC (LHCL).

Higher taxes, currency losses hinder SLT’s March performance

Sri Lanka Telecom PLC (SLT), the leader in fixed line telephony in the country, saw its January-March (1Q17) quarter net profits declining amid the higher taxes slapped on the telecom sector and foreign currency translation losses due to rupee depreciation. 

ComBank March quarter profit up over higher loans, lower provisions

Commercial Bank of Ceylon PLC (ComBank) reported earnings of Rs.3.8 billion or Rs.4.28 a share for the January-March quarter (1Q17), an increase of 17 percent from a year ago, as the higher growth in loans helped to offset the pressing margins as the bank felt the rising cost of funds.   

Printers Association organises seminar in Kalutara

The Sri Lanka Association of Printers (SLAP) is holding its sixth in the series of free full-day workshops on May 20, 2017, at Panorama River View Hotel, Kalutara.

Roundtable discussion on ‘Blue Economy’ in New Delhi

The Centre for Indo-Lanka Initiatives (CILI) of the Pathfinder Foundation (PF) will conduct a two-day round table discussion on Blue Economy with the Vivekananda International Foundation, in New Delhi today and tomorrow.

‘Viceroy Special’ assures settling dues: Railways Dept.

The Railways Department said JF Tours and Travels (CEY) Ltd, which operates the ‘Viceroy Special’ tourist train with a steam engine, has assured to settle the due payments to the department.

SLRA launches Sri Lanka’s first Retailers’ Forum

The Sri Lanka Retailers’ Association (SLRA) will be organising the Sri Lanka Retailers’ Forum, which will be the first and foremost retail forum organised in Sri Lanka, and also is one of the flagship events the SLRA has lined up for the year 2017. 

MyDoctor.lk bags two awards at BestWeb.lk 2017 competition

Organized by the ‘.lk’ domain registry BestWeb.lk was held for the 7th consecutive year, with the objective of recognizing excellence among Sri Lankan websites, based on visual appeal, usability and popularity among its users. 

Ceyoka Engineering provides advanced water, wastewater management solutions

Harnessing the comprehensive capabilities of Ceyoka Engineering (Pvt) Ltd, a leading conglomerate in the country, its water management division provides cutting-edge water and wastewater solutions. 

Finagle exports first container load of frozen bakery products to USA

Finagle, the country’s leading bread and allied products manufacturing company, inspired the food industry ­­with its first export of a container load of frozen bakery products which was shipped to the United States of America. 

SLSBC and Singapore (Sri Lanka) Club hold networking event

A joint networking evening was recently organised by the Sri Lanka – Singapore Business Council (SLSBC) of the Ceylon Chamber of Commerce and Singapore (Sri Lanka) Club. 

Ceylon Tea Brokers invests Rs.233mn to secure land for warehouse in Muthurajawela

Ceylon Tea Brokers PLC (CTBL), a subsidiary of Capital Alliance group, has entered into a share sale agreement with Lanka Commodity Brokers Limited recently to construct a warehousing complex in Muthurajawela.

Lanka IOC March in red as higher crude prices hit performance

Lanka IOC PLC (LIOC), the local unit of Indian Oil Corporation Limited, turned a net loss of Rs.647.1 million during its January-March quarter (4Q17) from a net profit of Rs.1.55 billion during the corresponding quarter last year, but ended the full year (FY17) with a net profit of Rs.3.1 billion, up 39 percent.  

Workers’ remittances down 3.3% in Jan-March

Workers’ remittances, the largest foreign income source to the dollar-hungry Sri Lanka, has taken a dive during the first three months, as the total remittances have declined by 3.3 percent followed by a 12.2 percent decline in March 2017, according to Central Bank data.