Exporters hail govt.’s efforts toward regaining GSP Plus

The Exporters Association of Sri Lanka (EASL) yesterday welcomed the efforts of the government to secure the vote from the EU parliament to regain GSP Plus tariff concessions for Sri Lanka exports entering the European Union.

Banking sector capital levels slip amid record private credit in 2016

Record levels of private credit extended in 2016 has resulted in further slippage in capital adequacy ratios (CARs) of the Sri Lankan banking sector ahead of 

SAPPTA hails govt.’s move to postpone abolishment of SVAT

The Spices and Allied Products Producers’ and Traders’ Association (SAPPTA) yesterday welcomed the government’s decision to postpone the abolishment of Simplified Value Added Tax (SVAT) system as proposed in the budget 2017.

Shares end flat; foreign investors turn sellers

REUTERS: Sri Lankan shares were largely unchanged in thin trading, near an 11-month high yesterday, as foreign investors turned net sellers for the first time in 26 sessions while blue chips saw profit-booking after a prolonged rise.

Moscow invites SL for Russia’s Davos

Sri Lanka has been given a fresh opportunity to showcase its investment and export portfolios to the emerging markets as well as the huge Russian region through a premier global forum, dubbed as Russia’s Davos. 

Fitch affirms Singer Sri Lanka at ‘A-(lka)’; Outlook Stable

Fitch Ratings has affirmed Sri Lanka-based consumer durables retailer Singer (Sri Lanka) PLC’s National Long-Term Rating at ‘A-(lka)’ with a Stable Outlook. 

Dunamis Capital and listed subsidiaries change board

Manjula Mathews, Executive Chairperson of Dunamis Capital PLC and its listed subsidiaries – First Capital Holdings PLC and Kelsey Developments PLC, has retired from her post with effect from April 30, 2017. 

Japanese company introduces domestic insanitary water cleaning system

Omegaa Johkasou Engineering Lanka Private Limited can be considered as an amazing company which is famous for approaching new inventions that can help improve the life style of ours. 

LMD ranks Atlas as No. 1 ‘Most Loved Brand’ in Sri Lanka

The name Atlas, conjures much nostalgia, many memories and so much love amongst young and not so young homes, schools, offices and communities across Sri Lanka. Many successful professionals and entrepreneurs look back in life to acknowledge that Atlas played a critical and inspirational role in their journey of success. 

Ceylon Tea Brokers announces two new appointments

Ceylon Tea Brokers PLC has announced two new appointments with effect from 1st May 2017, following the resignation of Suranga Perera from the post of Chief Executive Officer. 

UK finance magazine names Sunshine Holdings ‘Most Innovative Holding Group’

In recognition of using high-tech applications in Sri Lanka’s agribusiness sector, launching of new innovative brands, ensuring high standards of customer service and strong client relations, Sri Lanka’s diversified conglomerate, Sunshine Holdings was awarded ‘Most Innovative Holding Group’ by Global Banking and Finance Review – the leading financial and banking magazine in the United Kingdom. 

Korea Eximbank to collaborate with ADB to draw CTEC blueprint

The Export-Import Bank of Korea (Korea Eximbank) signed an aide memoire with Asian Development Bank (ADB) and the Government of Sri Lanka (GoSL) recently, marking the launch of ADB-KSP Joint Consulting to support the GoSL in drawing a blueprint for the Colombo-Trincomalee Economic Corridor (CTEC). 

Green Scape Coir Exports leads way in exporting local coir

Green Scape Coir Exports (Pvt) Ltd, the brainchild of K.A.D.C Silva was established in 2007 with the objective of manufacturing and exporting coir products from Sri Lanka. 

We Love Mum Brunch at Hilton Colombo, A Dining Experience As Unforgettable As She Is

Nothing says “Thank You, Mum” like a gastronomical experience set in the contemporary chic GRAZE Kitchen Restaurant,Hilton Colombo. 

March motor vehicle registrations rebound

Vehicle registrations demonstrated a strong rebound in March compared to the previous two months, despite the monetary impediments slapped to discourage private motor vehicle purchases. 

April inflation eases to 6.9%; but food prices remain high

Sri Lanka’s inflation in the capital Colombo rose by 6.9 percent during the 12 months to April, slowing down from a multi-year high of 7.3 percent recorded in March despite being a festive month, according to the Census and Statistics Department data. 

Logistics expert highlights need for increased efforts in grasping opportunities

Sri Lanka, due to its strategic location, continues to be an obvious candidate to reap the plethora of benefits that stem from effective trade facilitation but requires a much serious effort in “grasping” opportunities, a top logistics expert said.

Shocking surge in private credit in February

It appears that the Central Bank may need to sharpen its monetary policy tools, as credit to private sector has continued to grow stubbornly, a scenario that could drive the country’s inflation and imports beyond a tolerable level.

Budget deficit slashed to 5.4% amid expenditure cuts, higher revenue

The Central Bank revised Sri Lanka’s budget deficit for 2016 downwards to 5.4 percent of gross domestic product (GDP) recently due to expenditure cuts, bringing the key indicator in line with government expectations again, following lapses in 2014 and 2015.

Sri Lanka now has peaceful environment to do business: FinMin tells forum

Sri Lanka has embarked on a new journey towards sustainable development, thereby intending to pass on its benefits equally to every citizen in the country, said Finance Minister Ravi Karunanayake. 

GlaxoSmithKline top official meets Health Minister

South Asia Head of GlaxoSmithKline Consumer Healthcare, Manoj Kumar called on the Health, 

JKH calls applications for second John Keells X Open Innovation Challenge

Sri Lankan entrepreneurship is geared to hit the fast-track at the second annual John Keells X Open Innovation Challenge 2017,as teams of aspiring innovators and inventors compete for a chance to win entry into a six-month accelerator programme at JKH that offers Rs. 2 million in seed investment, a curated growth oriented curriculum, office space in Colombo, access to legal, finance and secretarial expertise, access to mentors involving senior JK

KPMG to host trade and customs seminar

KPMG will host a seminar on “Customs Valuation, 2017 Amendments to H.S Codes and Foreign Exchange Impact on International Trade” on May 19th at the Movenpick Hotel, Colombo 3, from 9.00 a.m. to 12.15 p.m. 

Flood-hit borrowers get 3-month moratorium on loans; penal interest waived

The Central Bank has instructed all banks to grant a moratorium on loans obtained by the borrowers hit by the floods and adverse weather conditions in a bid to provide some relief until they get back on their feet, Mirror Business learns. 

Central Bank, IFC partner to promote sustainable and inclusive finance

IFC, a member of the World Bank Group, has signed a Memorandum of Understanding (MoU) with the Central Bank of Sri Lanka (CBSL) to enhance and develop environmental and social risk 

Sri Lanka appoints lead managers for up to US$1.5bn sovereign bond

Sri Lanka has appointed seven lead managers for a sovereign bond worth up to US$1.5 billion and could tap the capital market as soon as next month, a source close to the deal said this week.

Asia markets retreat after strong week, eye on US data

AFP: Asian investors yesterday wound down after a strong week, with profit-taking weighing on markets and attention turning to the release of US growth data later in the day.

China’s Didi poised to be most valuable Asian start-up: report

AFP: China’s ride-hailing leader Didi Chuxing is close to finalising a fund-raising deal that would make it the most valuable start-up in Asia with a value of US $50 billion, Bloomberg News  reported yesterday.

PUCSL to resolve environmental concerns of Norochcholei communities

Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator, kicks off the discussions with the communities that raise concerns on the environment impact of the Norochcholei coal power plant in the North  Western Province. 

NCE hails government’s move to regain GSP Plus facility

The NCE commends the unity government on its success in regaining the GSP Plus facility after overcoming the final hurdle in the EU Parliament.