Port City to attract US$ 13 bn investment from 2018: company

A Chinese-backed real estate project near Sri Lanka’s main port is expected to attract US$13 billion worth of investment from next year, the developer said yesterday.

Pathfinder Foundation convenes conference on Bay of Bengal

The Centre for Indo-Lanka Initiatives of the Pathfinder Foundation, in partnership with Carnegie India, convened two-day track 1.5 conferences called ‘Trincomalee Consultations’ recently. 

China’s big banks say bad loan fears eased in 2016

AFP: Bad-loan concerns at China’s big banks eased in 2016 despite flat earnings growth, the companies said this week, but analysts warn asset-quality problems in the world’s second-largest economy could worsen next year.

Trump to name and shame trade ‘cheats’

AFP: President Donald Trump ordered staff yesterday to pinpoint countries and goods responsible for America’s nearly US$50 billion trade deficit,

Asian markets lower as quarter draws to close

AFP: Asian markets sank yesterday as the quarter drew to a close, with dealers ignoring better-than-expected US economic growth data, while South Africa’s rand plunged after President Jacob Zuma sacked his respected finance minister.

EIB’s permanent office marks new era of stronger activity across India and South Asia

The European Investment Bank’s first permanent office in India was formally opened earlier this week by Arun Jaitley, Finance Minister of the Republic of India, Werner Hoyer, President of the European Investment Bank, Andrew McDowell, European Investment Bank Vice President responsible for South Asia and Tomasz Kozlowski, Ambassador of the European Union to India.

Shares hit near 3-wk closing high; post 1st weekly gain in 6

REUTERS: Sri Lankan shares closed at their highest in nearly three weeks yesterday, rising for a fourth straight session on purchases by foreign investors and on quarter-end window dressing, stockbrokers said.

Sri Lankan delegation’s Reunion Island visit to begin today

On invitation from the French Agency for Development (AFD), an official delegation headed by M.I.M. Rafeek, Secretary to the Ministry of National Policies and Economic Affairs will visit the Reunion Island from 1st to 7th of April. 

Kelani Cables hosts Kelani Challenge Trophy 2017 for second consecutive year

Kelani Cables PLC led the Kelani Challenge Trophy 2017 annual cricket tourney at the Bloomfield Cricket Club grounds in Colombo.

Jade Restaurants introduce unbeatable seasonal offers

The best of the delicious Chinese cuisine could now be savoured at Jade Restaurants in Nugegoda and Maharagama where dine in customers can enjoy a 30 percent discount on Commercial Bank credit cards until April 10 on all food and beverages in the menu.

CIMA prepares you for the boardroom, says Unilever National Finance Director

Unilever Sri Lanka National Finance Director Priyadharshana Ekanayake (ACMA, CGMA) has worked for Unilever in Sri Lanka, Singapore and India.  During his 25 years at Unilever, his professional experience spans all finance functions - in regional, global and local roles.

Floating umbrellas of Portugal at The Factory Outlet

Ever wanted to go to Portugal? Come over to The Factory Outlet in Havelock and witness a glimpse of the Portugal culture. 

CIM Sri Lanka networking event hits high note with eminent musicians

CIM Sri Lanka hosted its first networking event for 2017, titled ‘Evolution of Music in Sri Lanka’ recently at the CIM Office, in Colombo.

SLTC welcomes new students at inauguration ceremony

The Sri Lanka Technological Campus (SLTC) held an inauguration ceremony earlier this week to welcome the new students.

Government to build national consensus for PPPs: minister

The government is hoping to build a national consensus for the role of public-private partnerships (PPPs) in revamping state-owned enterprises (SOEs), Public Enterprise Development Minister Kabir Hashim said this week.

Top economist advocates homegrown monetary and fiscal policy for Sri Lanka

An outspoken economist yesterday advised Sri Lanka’s Central Bankers and politicians to adopt a more or less a homegrown monetary and fiscal policy instead of following mythical monetarism and free markets.

Shashi Tharoor to speak at PM’s biography launch

Compelling and eloquent speaker and award-winning author Dr. Shashi Tharoor, a former Under-Secretary-General at the United Nations (UN) will be in Colombo next week for the launch of Prime Minister Ranil Wickremesinghe’s biography authored by Dinesh Weerakkody  The book will be launched at the BMICH. 

CEB refuses to pay interest on customer security deposits

The Ceylon Electricity Board (CEB) is currently refusing to pay interest on Rs. 10 billion in customer security deposits that have been made when opening new connections, until the state-owned entity returns to a financially viable status or better terms are negotiated, Mirror Business learns. Multiple sources have revealed to Mirror Business that CEB has refused to pay interest due to its current loss making status.

Govt. postpones SVAT abolition

Sri Lanka’s premier trade chamber, Chamber of Commerce, yesterday welcomed the decision by the Finance Ministry to postpone the abolition of Simplified Value Added Tax (SVAT) system that was due to come into effect  on April 1.

Rupee edges up on exporter dollar sales; stocks rise

REUTERS:  The Sri Lankan rupee firmed up yesterday, led by exporter dollar sales and inward remittances but demand from importers for the U.S. currency weighed on sentiment,  dealers said.

Sunshine Holdings celebrates 50 years of responsible entrepreneurism

Sunshine Holdings PLC is celebrating its 50th anniversary. 

ACL Cables sponsors ‘Best Performer Award’ for Electronic Engineering at SLIIT Convocation

Sri Lanka’s top cable manufacturer, ACL Cables sponsored the ‘Best Performer Award’ for the BSc. Engineering Honours Degree for Electric and Electronic Engineering at the recent SLIIT Convocation.

Experience ‘Little England’ with Cocoon

Widely known for its production of tea and the chilly climate, the city of Nuwara Eliya has certainly secured a special place in the hearts of many local and international tourists.

Watawala signs as Gold sponsor for Colombo International Tea Convention

Coinciding with celebrations for the 150th anniversary of Ceylon Tea, the Watawala Family of companies stepped forward as Gold Sponsor to the Colombo International Tea Convention 2017.  Organized by the Colombo Tea Traders’ Association (CTTA), the Sri Lankan tea industry’s apex body, the Colombo International Tea Convention will take place at the Cinnamon Grand hotel on 7th and 8th August. 

Softlogic enlivens Ja-Ela with Burger King and Softlogic Max

A new dimensional shopping experience came to life in Ja-Ela this week when two of the Softlogic Group’s retail operations -- Burger King and Softlogic Max -- joined forces in a single-location with a simultaneous opening in this suburban enclave.

Electricity price hike imminent as costs escalate

Sri Lanka’s electricity consumers are likely to be in for a rude shock again as another round of price increase is expected anytime soon amid shortages in generation capacity and increasing transmission and distribution costs, according to a leading energy sector expert in the country.

Top lube operator calls for strict laws to eliminate unethical practices

Sri Lanka’s lubricant market has become messy due to a large number of unlicensed players acting on rules unto themselves due to lax regulations and their activities have caused losses to the government, licensed operators and consumers at large, the country’s top lube operator said.   

EU blocks LSE-Deutsche Boerse merger amid Brexit jitters

AFP: The EU blocked the blockbuster merger of the London Stock Exchange (LSE) with Germany’s Deutsche Boerse yesterday, snagged by competition concerns and the fallout from Brexit.

CEB awaits ministerial decision to sell solar plants at subsidized rates

Ministerial level discussions are currently underway to decide on subsidized terms of sale of rooftop solar PV plants through the state-owned Ceylon Electricity Board (CEB), an official said yesterday.

Shares rise for second day on foreign buying

REUTERS: Sri Lankan shares rose for a second straight session yesterday, posting their highest close in nearly one week, helped by foreign investor buying and quarter-end window dressing, stockbrokers said. The Colombo stock index closed 0.61 percent firmer at 6,021.54, its highest close since March 21.