Shangri-La says being first had its complexities

The Shangri-La Colombo is the trial and error project for the entire mixed development industry in Sri Lanka, which caused some delays in its construction, an official said.

Le Pen win is Europe’s biggest risk: Credit Suisse

AFP: France’s Marine Le Pen is the biggest risk to European stability, Credit Suisse said in a guide launched yesterday to help investors navigate the upcoming “defining” months facing the continent.

SLPA records Rs.11bn operating profit for 2016: minister

Sri Lanka Ports Authority (SLPA) has made an operating profit of Rs.11 billion for the year 2016, up 83 percent from a year ago, on the back of revenue of Rs.44 billion, a Ports and Shipping Ministry statement said. 

Shares fall for third straight session; John Keells down

REUTERS: Sri Lankan shares fell for a third straight session yesterday, posting their lowest close in a month, dragged down by diversified stocks such as John Keells Holdings Plc as investor sentiment continued to remain low on concerns about rising interest rates.

Rupee ends firmer amid moral suasion

REUTERS: The Sri Lankan rupee ended slightly firmer yesterday as a state bank sold dollars amid moral suasion by the Central Bank after the local currency fell on importer greenback demand, dealers said.

Assidua Technologies celebrates 5th anniversary

Sri Lanka’s pioneer power solution company Assidua Technologies (Pvt.) Ltd celebrates its fifth anniversary with grander and brilliance with overwhelming compliments from its large clientele islandwide.

Hela Clothing to invigorate apparel industry with Microsoft

Hela Clothing, a leading apparel manufacturer, partnering with Microsoft recently embraced digital transformation to revitalize the apparel industry. 

Lucky Kottawa Factory wins National Quality Award

Lucky Kottawa Factory, dedicated to manufacture high-quality tea, was recognized with the Quality Award under the Manufacturing - Small category at the National Quality Award ceremony organised by the Science and Technology Ministry.

Metropolitan launches Canon cloud-enabled smart printers

Metropolitan Office (Pvt.) Ltd, together with Canon, the world leader in imaging and printing products, launched the innovative inkjet printing solutions, expanding its portfolio for corporate and small office users. 

IAC enhances Britex paints and coatings brand

Industrial Asphalts (Ceylon) PLC (IAC), a leading company well reputed for its bitumen-based products and a wide range of paints and coatings owning many prestigious brands, has undertaken to reinvigorate one of its main brands, Britex, the premier full range of colour anti-corrosive and general-purpose metal coatings, trusted by generations for more than 50 years of continuous presence in the market. 

Canagey appointed CEO/MD of ICTA for second term

The Information and Communication Technology Agency (ICTA) of Sri Lanka has appointed Muhunthan Canagey as CEO & Managing Director for a second term. 

Sri Lankan think tanks in global Think Tank Index 2016

Few Sri Lankan think tanks have been rated in global rankings in a recent research report published by University of Pennsylvania under a study on Think Tanks and Civil Society Programmes (TTCSP). 

New Zealand Minister visits Ceylon Chamber and Colombo Tea Auction

David Bennett, New Zealand’s Minister of Food Safety and Veteran Affairs, who was in Sri Lanka on a three-day visit along with a business delegation visited the Ceylon Chamber of Commerce this week. 

Standard Chartered to sponsor FA’s Sri Lanka Investment Summit

Standard Chartered is once more the international lead sponsor of Finance Asia’s Sri Lanka Investment Summit – the second edition. 

A Royal fall-out?

Sri Lanka’s stock market was all abuzz yesterday with the unexpected news of leading corporate figure Nimal Perera resigning from the director boards of the companies controlled by the business magnate Dhammika Perera amid speculation of a massive fall-out between the duo.

Operations of 3 brokers curtailed over capital woes

Three stockbrokers operating at the Colombo Stock Exchange (CSE) have failed to fulfil the newly introduced risk-based capital requirements and as a result, their operations have been curtailed, Mirror Business learns. The CSE officials said the purchasing operations of the three stockbrokers have been suspended until they bridge the gap in their capital adequacy levels.

HNB creates new chief digital officer post to stay future-ready

In a bid to ward off threats from telecommunication companies in the future, Sri Lanka’s second biggest private lender, Hatton National Bank PLC (HNB), has created a new role inside the bank, a top bank official said. HNB said it is seeing the rising challenges from the telecommunication companies infiltrating into the space traditionally dominated by banks. 

SilkAir to commence Colombo flights from April

SilkAir, the regional wing of Singapore Airlines (SIA), will commence flights to Colombo on April 8, 2017. SilkAir will operate three flights per week. 

Morning Power to revitalize Brumbies at Battle of the Blues

George Steuart Health has yet again partnered as a sponsor of the Brumbies enclosure for the 5th consecutive year at the 138th Battle of the Blues which is scheduled to be held at the SSC Colombo from the 9th - 11thof March. The brumbies enclosure, reputed for its distinguished clientele and exclusivity, is organized by the ‘Thomian Class of 87’ and accommodates both Royalists and Thomians. Morning Power is a popular caffeine free dri

Dr. Anoma Jayasinghe becomes first Sri Lankan IAASM member

Dr. Anoma Jayasinghe, Group Medical Officer of SriLankan Airlines, has become the first Sri Lankan professional in Aviation Medicine to be selected as a member of the International Academy of Aviation & Space Medicine (IAASM), in recognition of her contribution to this field in Sri Lanka for over a decade.

EU Delegation discusses challenges in female labour force participation

In celebration of International Women’s Day (IWD) 2017, the EU Delegation hosted an event titled ‘Mind the Gap’ – a conversation on what’s holding Sri Lankan women back from workforce participation on the March 7th at the Jayanthi Kuru-Utumpala  Lionel Wendt Art Centre. 

Ceylon Chamber to hold talent management session on March 24

HR practitioners representing firms from diverse sectors will present their expert insights on how to manage talent in order to become an innovation driven business, during the ‘Plenary 1’ of the 

Sri Lanka’s first education resource comparison platform launched

Comparison Private Limited unveiled Sri Lanka’s first education resource comparison platform — YouCompare.lk (YC) this week.

IMF flags off mounting economic imbalances as third tranche hangs in balance

The International Monetary Fund (IMF) yesterday flagged off a number of imbalances in the country’s monetary, fiscal and external sectors and urged some decisive actions by the authorities to accelerate the reforms agreed on state-owned enterprises (SoEs) weighing heavily on public finances. 

Leading insurer grumbles over uneven playing field

A leading insurance provider has expressed disappointment over some insurance companies not following state regulations even two years after such regulations came into force, which has created an uneven playing field for  the industry.

Beira Group IPO oversubscribed

Brush maker BPPL Holdings, which is also known as Beira Group, yesterday saw its initial public offering (IPO) getting oversubscribed on the opening day.

S&P affirms ‘B+/B’ rating on SL; outlook remains negative

S&P Global Ratings yesterday affirmed its ‘B+’ long-term and ‘B’ short-term sovereign credit ratings on Sri Lanka. The outlook on the long-term rating  remains negative. 

Mixed sentiments over possible property bubble

Construction sector stakeholders recently expressed mixed sentiments over the possibility of a real estate bubble forming in the Colombo district amid concerns being voiced from various quarters, 

Rupee ends steady; bond flow direction eyed

REUTERS: The Sri Lankan rupee ended steady in thin trade yesterday as mild importer dollar demand offset sales of the greenback by exporters while traders awaited cues on foreign selling in bonds, dealers said.

PickMe cab service makes great impact in cost and time management

PickMe, Sri Lanka’s first mobile taxi hailing company says that an efficient cab service can prove to be a great asset in terms of cost as well as time management for users.