Rupee ends higher on exporter dollar sales

REUTERS: The Sri Lankan rupee ended firmer yesterday, helped by exporter dollar sales and inward remittances but importer demand for the greenback from a state bank weighed on the sentiment, dealers said.

Invo Lanka appointed exclusive dealer for Remer Faucet and Minutery range

Elevating bathroom designs with style and practicality offering an exciting, trend-setting Faucet and Minutery range, Remer Rubinetterie Spa has named Invo Lanka International (Pvt) Ltd., as the exclusive local agent for its family of products.

DSI opens biggest footwear factory sales outlet at Nawinna

The town of Nawinna has become the home of the largest footwear factory sales outlet in the country. 

Keells Super partners with IPHT to improve mango supply and value chain

The Institute of Post Harvest Technology (IPHT) of the Ministry of Agriculture recently launched a program aimed at improving the supply and value chain activities of commercially grown mangoes in Sri Lanka. 

Ceylon Oxygen becomes Sri Lanka’s first to receive updated ISO certification

Ceylon Oxygen Limited (COL), a member of The Linde Group, has become the first Sri Lankan company in the medical and industrial gases industry to receive the updated version of the ISO 9001:2015 certification for the manufacture, distribution and retail of medical, food and industrial grade liquid oxygen, liquid nitrogen and liquid argon. 

MTI’s success with USA’s Limoneira to be published in London

The strategy-critical project carried out by MTI Consulting for Limoneira, the Nasdaq listed and USA’s largest lemon producer, is to be published as a case study in an upcoming publication by Routledge of London in a book titled ‘Management Consultancy Insights and Real Consultancy Projects’. 

Zesta brews hot ‘Ceylon Cuppa’ for Shangri-La with Connoisseur Collection

Steeped in the art of tea, Zesta, Watawala Tea Ceylon’s flagship, award winning brand is creating delicious experiences for guests of the high end hospitality chain, Shangri La – across all their properties, worldwide. 

Chevron Lubricants completes 15 years devoid of work place injury extending safety record

Chevron Lubricants Lanka PLC successfully completed 15 years of zero days away from work across the entire operation that includes the base oil tank farm, laboratory, manufacturing, warehousing and distribution operation. This achievement is a testimony to the company’s world class safety culture that fosters the value of safety and well-being of its employees through awareness on safe work practices.

IDB inks MoU with PUM Netherlands’ senior experts

The Industrial Development Board (IDB) stimulates growth, expansion and development of SMEs by encouraging, promoting and facilitating small and medium enterprises.  

Biz council leads Lankan delegation to Moscow

A 25-member Sri Lankan business delegation led by Sri Lanka – Russia Business Council of the Ceylon Chamber of Commerce together with the Sri Lankan Embassy in the Russian Federation visited Moscow last week. 

‘Kandy Mums’ organizes grand sale to help Central Province biz women

‘Kandy Mums’ has organized a grand sale of baked goodies, clothes, food items, shoes, costume jewelry, painting, perfumes and much more on April 1st to be held at the Queens Hotel Ballroom.

DSI opens latest showroom in Bandarawela

March 15th marked the opening of a brand new DSI showroom in Bandarawela.  The new showroom, which is the 3rd DSI showroom to be opened in the city, is located at Dharmawijaya Mawatha, Bandarawela.

Fashion Bug opens 17th store in Wellawatta

Fashion Bug, one of Sri Lanka’s leading retail clothing stores with over 16 outlets islandwide, opened their 17th store in the heart of Wellawatte.

Sampath cardholders get 30% savings on channeling services with Doc990

Sri Lanka’s cutting-edge digital health portal, Doc990, is presenting unbeatable savings to Sampath cardholders. 

Samsung introduces innovation-driven QLED TV in Paris

Offering users an unparalleled viewing experience, Samsung Electronics’ QLED TV launched at the Carrousel du Louvre in Paris recently. 

Experience true style and comfort with Skechers

Accentuating its commitment to providing an ultra-comfortable and fashionable approach to a healthier lifestyle, Skechers predominantly uses an ergonomically engineered Memory Foam sole in its footwear. 

Laugfs to borrow US $ 42.6mn for LPG terminal

In order to finance the group’s flagship LPG terminal in Hambantota, Laugfs Gas PLC has provided a corporate guarantee to the tune of US$ 42.6 million as security to its fully-owned subsidiary Laugfs Terminals Ltd to obtain a long-term loan from People’s Bank. In a filing to the Colombo Stock 

Rupee ends weaker on dollar demand from state bank

REUTERS: The Sri Lankan rupee ended weaker yesterday due to dollar demand from a state bank to cover import bills.

Shares rise on foreign investor buying; turnover hits 1-mth high

REUTERS: Sri Lankan shares closed slightly stronger yesterday, recovering from a more than one-year closing low hit in the previous session, as foreign investors bought battered stocks while block deals pushed the day’s turnover to a one-month high.

CTC assesses biz viability as beedi, illicit fags gain large market share

Beedi and illicit fags have made considerable inroads to Sri Lanka’s tobacco market due to ad-hoc and irrationally excessive taxes slapped on the legally manufactured cigarettes, making it extremely difficult to generate meaningful value, said the country’s only legal manufacturer of cigarettes. 

Shareholder nod for Sanasa Bank’s US $ 22.2mn capital infusion plan

The shareholders of Sanasa Development Bank PLC (SDB) have approved   US $ 22.2 million equity and funding package from FMO Netherlands, SBI-FOM Fund and International Finance Corporation (IFC) during an extra ordinary general meeting held recently.

Maldives Hotel Asia 2016 winners to participate at HOFEX 2017

The Maldives Hotel Asia International Culinary Challenge is the regions premier culinary competition with the participation of over 500 chefs. 

Workshop highlights important role of supervising members in nurturing chartered accountants

The important role played by supervising members in nurturing chartered accountants to become globally sought after professionals was highlighted recently at a Training Partners workshop organized by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka). 

CIMA Students’ Society holds 23rd Annual General Meeting

CIMA Students’ Society (CIMASS) held its 23rd Annual General Meeting to appoint its office bearers for 2017: 

Ceylon Chamber to hold seminar on WTO Trade Facilitation Agreement

The Ceylon Chamber of Commerce will conduct a seminar on the topic ‘WTO Trade Facilitation Agreement – What Business Needs to Know,’ under the Trade Intelligence for Private Sector (TIPS) Initiative of the Chamber, which aims to help the private sector to stay up-to-date on international trade issues and advocate for policy changes.

SL’s trade deficit in 2016 widens 8.4% to US $ 9.09bn

Sri Lanka’s trade deficit in 2016 widened 8.4 percent year-on-year (YoY) to US $ 9.09 billion with export earnings falling 2.2 percent YoY to US $ 10.3 billion, while the expenditure on imports rising 2.5 percent YoY to US $ 19.4 billion, the country’s Central Bank said.

Monetary Board decides to begin disciplinary proceedings over EPF’s transactions in G-secs

The Central Bank yesterday said the Monetary Board has decided to take disciplinary action against any official of the bank for wrongdoing with regards to the Employees’ Provident Fund (EPF) transactions in government securities.

Leading emerging market fund buys stake in HNB Grameen

HNB Grameen Finance, the microfinance arm of Sri Lanka’s second biggest private lender, Hatton National Bank PLC (HNB), has entered into an equity partnership with Developing World Markets (DWM), a leading emerging markets investment firm. 

Central Bank to spoil bankers’ party?

Sri Lanka’s banks may be operating with fancy projected numbers to grow their loan books during 2017 but the country’s Central Bank seems to be standing firm on their way to crush those expectations as cheaper credit always tends to destabilise the import-driven island economy. 

Shares slump to one-year low as banks fall

REUTERS: Sri Lankan shares fell to a more than one-year closing low yesterday in dull trade as investors sold shares of lenders after the Central Bank tightened monetary policy in the previous session, dealers said.