Flemingo secures contract to carry out duty free operations at BIA

Sri Lanka’s Transport and Aviation Ministry has awarded a five-year duty free contract to Flemingo Duty Free to operate one of the two core category spaces at Bandaranaike International Airport (BIA) following a successful tender process.

Clarks-DSI open 3rd store in Colombo

Expert shoemakers, Clarks, launched its third store in Colombo through its sole distributor in Sri Lanka, D. Samson & Sons (Pvt.) Ltd.

CIC Seeds felicitates 20 long-standing farmers

Twenty long-standing farmers were honoured by CIC Seeds (Pvt.) Ltd during a felicitation ceremony held at Shalika Hall, Dehiattakandiya recently. 

Maliban Smart Cream Cracker wins Advertisement of the Year at People’s Awards

Maliban Smart Cream Cracker being awarded the Advertisement of the Year at the recently concluded SLIM-Nielsen People’s Awards 2017 held at Water’s Edge, was testimony to disruptive communication creating a lasting connect with consumers.   

Marina Spread relaunched with new look

To further strengthen its presence locally as well as internationally, Marina Foods (Pvt.) Ltd, a member of NMK Holdings, recently reintroduced Marina Spread with a new look to be on par with the international standards.

Rohaka Company receives Star Performance Award

Rohaka Company (Pvt.) Ltd, a renowned company in the administration of overseas educational opportunities for the students, was awarded the international Star Performance Award recently. 

Everjobs.lk announces first-ever Paperless Job Fair in Sri Lanka

In a move of revolutionary genius, Sri Lanka’s fastest growing online career platform, everjobs.lk, announced the launch of the first-ever Paperless Job Fair in the country. 

Views split on rate hike, tightrope walk for Central Bank

Sri Lanka’s Central Bank could raise its key policy rates in the coming months if it skips a chance to tighten this week, a Reuters poll showed, two weeks after the International Monetary Fund (IMF) called for further tightening. 

Is private equity threat to future IPOs?

Going public was once the ultimate goal of any forward-looking company. But now appears it is no longer the case as emerging private equity funds are effectively filling that need with less pain for the promoters, who otherwise have to undergo much hassle in raising funds for  future growth.    

Concerns raised over tax increase on synthetic lubricants

The Ceylon Motor Traders’ Association (CMTA), a member of the Ceylon Chamber of Commerce, yesterday in a statement raised concerns over the significant increase in duty and taxes on synthetic lubricants.

Rupee falls ahead of Central Bank rate review

REUTERS: The Sri Lankan rupee fell in thin trade yesterday as dollar demand from importers offset selling of the US currency by exporters ahead of a decision on interest rates by the Central Bank. The bank meets to discuss monetary policy later this week and could raise key policy rates then or in the coming months, a Reuters poll showed, two weeks after the International Monetary Fund called for further tightening.

Rajah Nanayakkara no more

Business leader Rajah Nanayakkara has passed away on Wednesday in Singapore, at the age of 77. At the time of his demise, he was the Chairman of Lanka Orix Leasing Company PLC (LOLC).

Laugfs says will contribute 6-7% of govt.’s US $ 20bn export target once H’tota LPG terminal becomes

Laugfs Holdings PLC is hoping to contribute significantly towards the government’s 2020 export target of US $ 20 billion through its Hambantota liquid petroleum gas (LPG) terminal, a top company official said. 

US envoy meets CB Governor

US Ambassador in Colombo Atul Keshap paid a courtesy call on Central Bank Governor Dr. Indrajit Coomaraswamy this week at the Governor’s office. 

Ruhuna University organizes symposium on civil and environmental engineering practices

The 5th International Symposium on advances in civil and environmental engineering practices for sustainable development (ACEPS-2017) is the annual international symposium organized by the Department of Civil and Environmental Engineering (DCEE) of Faculty of Engineering, University of Ruhuna.

German Embassy brings mobile school lab ‘teutolab’ to Sri Lanka

‘Learning by doing’ was the motto of three German scientists who conducted workshops with school children in Maliyadewa Kurunegala, St. Patrick’s College Jaffna and Musaeus College in Colombo. “We never had science lessons like this before,” said an excited student after the workshops. 

BoC offers special discounts during Avurudu shopping

The Bank of Ceylon invites BOC card holders to enjoy shopping for Avurudu with their families as they can enjoy the highest discounts during the Avurudu period. 

Watawala Tea clinches ‘Most Favourite Hot Beverage Brand’ award

Watawala Tea, the market leader in the tea category, was awarded the ‘Most Popular Hot Beverage Brand of the Year’, at the SLIM-Nielsen People’s Awards, held recently for the 11th consecutive year. 

Arden Institute felicitates first batch of CGSPs

Arden Institute felicitated the first batch of Certified Guest Service Professionals (CGSP) at the Taj Samudra recently. 

Taxi meter with printer introduced for first time in Sri Lanka

Smart Travel International has introduced Sri Lanka’s first taxi app which works with a taxi meter namely Vow Cabs. 

Documentary on EU’s support to district development of Sri Lanka

In celebration of 60 years since the signature of the Rome Treaties, the first step towards a united Europe, a documentary on the impact of the European Union’s development cooperation under the European Union Support to the District Development Programme (EU-SDDP) will be telecast this week.

Boost for local tech firms expected from SL-Singapore FTA

The Sri Lanka-Singapore free trade agreement (FTA) talks have included a novel approach to digital services in the negotiations agenda, which is likely to afford new opportunities for Sri Lanka’s digital entrepreneurs, an Information Communications Technology Agency (ICTA) official said recently.

Ravi K to leave for London to receive top award

Finance Minister Ravi Karunanayke will leave for London today to receive the ‘Finance Minister of the Year for Asia Pacific - 2017’ award bestowed on him by the ‘The Banker’ magazine, a Finance Ministry statement said.

H’tota port bunkering expansion must to remain competitive: expert

The idling Hambantota bunkering facility requires further expansion in order to become competitive with regional bunkering facilities, a shipping industry stakeholder told a maritime forum held in Colombo, recently.  

NDB withdraws from int’l rating arrangement with S&P

Standard & Poor’s (S&P) has affirmed National Development Bank PLC’s (NDB) long-term and short-term issuer credit rating at ‘B’ with a stable outlook in its report dated March 20, 2017.  The affirmation is given on the ratings issued by S&P in December 2016. 

Rupee ends steady; rates decision awaited

REUTERS: The Sri Lankan rupee closed steady yesterday as dollar demand from importers offset selling of the greenback by exporters late in the day, even as dealers said rising imports and selling of rupee bonds by foreign investors weighed on the currency.

CB calls EOIs for new electronic bond trading platform

The Central Bank this week called for expressions of interests (EOIs) for the establishment of a new electronic trading platform and a bond clearinghouse for government securities.

UTE marks 70th anniversary

Recognised for delivering the highest quality engineering solutions and unmatched service support, United Tractor & Equipment (Pvt.) Limited (UTE) proudly celebrates its 70th anniversary this year. Founded by W.D. Fernando in 1947 as a family-owned company, UTE began serving the nation as the sole Caterpillar dealer for heavy construction machinery. This vital partnership continues seven decades later thus making it one of the oldest Caterpil

Browns Agriculture plays significant role in govt. initiative

The Disaster Management Ministry and Presidential Secretariat handed over 200 Browns TAFE 45 DI tractors together with bowsers to the Government Agents and District Secretarial Offices in the drought-affected areas.

Customers prefer Keells Super’s ‘Super Fresh Chicken’

Popular supermarket chain, Keells Super recently launched their latest produce in the meats range by introducing ‘Super Fresh Chicken’ across all its 60 plus outlets. The move is in line with its quest to ensure that the customers get the best in freshness and nutrition.