US businesses to expand investments in Sri Lanka: FinMin

The American Chamber of Commerce has agreed to further expand investment in Sri Lanka due to the country’s economic transparency, a Finance Ministry statement said yesterday, quoting Finance Minister Ravi Karunanayake. 

Apparel exports show decline despite full order books of large-scale manufacturers

Sri Lanka’s apparel industry is currently grappling with a “strange development”, according to an industry expert, with the apparel export earning figures for the first two months of this year recording declines despite the full order books of large-scale manufacturers.

Employers seek relief over budgetary relief allowance

A group of private sector employers recently requested the government to provide further relief to them with regard to the budgetary relief allowance, which is making a massive impact on their businesses. 

NIPO calls for increased resources to fast-track SL route to Madrid Protocol

As Sri Lanka is observed to be actively preparing for Madrid Protocol Accession, the National Intellectual Property Office (NIPO) stressed the urgent need for increased resources to speed up efforts.

Court dismisses action against Agalawatte Plantations and subsidiary

The District Court of Colombo yesterday dismissed a case filed by Dr. Chris Nonis and Lalith Fonseka against Agalawatte Plantations and its subsidiary on a preliminary objection taken by the counsel of Agalawatte Plantations and its directors.  

Rupee slips on importer dollar demand; stocks fall from 6-month high

REUTERS: The Sri Lankan rupee traded weaker yesterday due to importer dollar demand while the broader market awaited positive news on the International Monetary Fund (IMF) loan and sovereign bond sale, dealers said.

Arabian Travel Market in Dubai

Tourism Development and Lands Minister John Amaratunga  formally opened the Sri Lanka pavilion at the Arabian Travel Market in Dubai yesterday.  This Travel Market is one of the leading travel exhibitions in the Middle East. The Middle East contributes 8 percent of total tourist arrivals to Sri Lanka.

Pathfinder Foundation to host conference on Indo-Lanka connectivity

The Centre for Indo-Lanka Initiatives of the Pathfinder Foundation, Carnegie India together with Vivekananda International Foundation (India) will conduct a conference on April 28, 2017 in Colombo, with the participation of leading academics, professionals, subject matter experts and scholars from both the countries seek to discuss six major areas of the concept of connectivity.

Technical experts deliberate IP rights of TK & TCE in Colombo

In an effort to safeguard the intellectual property (IP) rights of traditional knowledge and cultural expressions (TK & TCE),  a group of international technical experts yesterday kicked off the process of setting up legal instruments to ensure effective protection of the intangible assets that tend to replicated without due credit.

Dankotuwa Porcelain wins bronze at European Product Design Awards 2017

Dankotuwa Porcelain PLC (DPL), Sri Lanka’s premier manufacturer of Porcelain products announced that the company was adjudged winner of the bronze award in the catering products/table top specialties category at the prestigious European Product Design Awards (ePDA) 2017. 

G15 global grouping’s first-ever Colombo session opens today

The first-ever direct partnering effort by Group of Fifteen (G15) global grouping with Sri Lanka will commence today in Colombo.

Inflation flirts around double digit levels as national prices soar 8.6% in March

Sri Lanka’s national consumer prices reached a 26-month high in March while the authorities seem to be making massive efforts to rein in further price pressures resulting from higher bank credit, 

Surge in foreign capital inflows boosts CSE

The Colombo Stock Exchange (CSE) in recent weeks has garnered a keen interest among foreign institutional investors, with a surge in foreign activity contributing to a strong showing in both daily turnover levels and the performance of the stock market indices.  

Chevron March sales flat, profit declines amid tougher market conditions

It appears that the slowdown in the vehicle imports, liberalization of lubricants imports, lax regulations and intense competition have taken toll on Sri Lanka’s lubricants market leader, Chevron Lubricants Lanka PLC (LLUB),

IMF members delete anti-protectionism pledge, keep currency commitments

REUTERS:  Member countries of the International Monetary Fund on Saturday pledged to work to reduce global imbalances but failed to repeat their past pledge to resist all forms of protectionism. The International Monetary and Financial Committee (IMFC), the IMF’s steering body, also repeated its past commitments on currency exchange rates.

Govt. mulls national policy for adventure tourism

The National Policy and Economic Affairs Ministry will be creating a national policy on standards for adventure tourism to address safety and service delivery qualities of the fast-developing industry, following discussions with key stakeholders. 

One Belt & One Road Initiative: Beyond physical infrastructure

At the China Institutes of Contemporary International Relations (CICIR)-organised forum on The Belt and Road Initiative: Risk Management, which was held in Beijing, Pathfinder Foundation Executive Director Luxman Siriwardena, in his presentation emphasised the potential of the initiative for economic development of Sri Lanka, as it enables the country to enhance its strategic value in the Indian Ocean. 

MTI selected for University of Western Australia forum in Perth

MTI Venture Manager/Business Analyst Jananga Piyadasa will represent MTI Consulting at the ‘Pursue UWA Week’ forum, which will be held in Perth, Australia from May 1 to May 6, 2017.  Pursue UWA Week is a forum organised by the University of Western Australia (UWA) to educate and train 30 international representatives of UWA across the globe.

CMA to hold ‘Big Data Analytics for Accounting’ CPD workshop

The Institute of Certified Management Accountants of Sri Lanka (CMA) will conduct a CPD workshop on ‘Big Data Analytics for Accounting’ on Wednesday, May 3, 2017 from 5:30 p.m.-7:30 p.m., at the CMA headquarters, 3rd Floor Auditorium, Visakha Private Road, Colombo 4.

Global Alliance for Trade Facilitation forum on April 26

The mega forum, ‘Global Alliance for Trade Facilitation: Making Cross - Border Trade Easier for Sri Lankan Business’, organised by the Global Alliance for Trade Facilitation and International Chamber of Commerce Sri Lanka (ICCSL), will be inaugurated under the aegis of Industry and Commerce Minister Rishad Bathiudeen on April 26, 2017, at Cinnamon Grand Hotel in Colombo. 

Comfort World to manufacture world class mattresses at Ambathale factory

Comfort World International, the market leader in mattress manufacture and retail in Sri Lanka, Maldives and Seychelles, will shortly introduce Serta mattresses, the emperor of mattresses to Sri Lanka . 

Hirdaramani tops JASTECA awards list for second year

Hirdaramani repeated its sterling performance at the JASTECA Awards held recently, topping the awards list for the second consecutive year. 

Nestlé Lanka celebrates Avurudu with employees

Nestlé Lanka recently celebrated Avurudu with its staff at its head office premises, with the participation of Nestlé Lanka’s Managing Director Shivani Hegde. 

Top toy maker Mattel aims to stimulate growth in Lanka’s toy industry

Mattel, a multinational toy manufacturer that for decades inspired the wonder of childhood across the globe, has identified Sri Lanka as a key market for growth. 

IMF warns against protectionism as Trump, Brexit loom

AFP: The International Monetary Fund renewed its warnings against protectionism on Thursday as nationalist political trends threaten trade integration on both sides of the Atlantic.

SLIM elects new President at 47th Annual General Meeting

The Sri Lanka Institute of Marketing (SLIM has elected Elangovan Karthik as its 39th president at the 47th AGM held on the 29th of March at the Kingsbury hotel, with a new council along with the ten-member executive committee of SLIM for the year 2017/18.

Degraded coral imperils coastal people: study

AFP: Coral reefs may be losing their ability to shield coastal communities from storms, sea surges and tsunamis, geologists said on Thursday.

Delmar, Dunsinane and Cee Tee Hills achieve all-time record prices

The following estates established all-time record prices at the weekly tea auctions held on April 18. Delmar Estate

JCT Oil Bank profits grew 113% last year, no need to privatize: Minister Ranatunga

Jaya Container Terminals Limited of Sri Lanka Ports Authority [JCT Oil Bank] has enhanced its profit in the previous year by 113 percent in relation to the year 2015, Minister of Ports and Shipping Arjuna Ranatunga said. 

War-torn Afghanistan sets up tourism ministry

AFP:  The president of war-torn Afghanistan is creating a tourism ministry in a bid to attract visitors to the country endowed with stunning landscapes and archaeological sites, but wracked by nearly four decades of conflict.