Sino Great Wall Engineering to build Dusit Thani beach property in Balapitiya

The construction contract of Dusit Thani Sri Lanka’s beachfront project in Balapitiya was awarded to China’s Sino Great Wall International Engineering (Pvt.) Ltd, as the officials of the two companies entered into an agreement at Dusit Thani’s Colombo sales office this week. 

NZ’s Tait Radio and Fentons Group enter into partnership

The  business delegation of fourteen New Zealand companies led by the David Bennett, New Zealand’s Minister for Veteran’s Affairs and Food Safety and Associate Minister of Transport and Immigration, which arrived in Sri Lanka this week to further strengthen business links between the two countries have expressed satisfaction with their  visit so far . 

Tea Tang obsessed with perfect tea

Tea Tang, founded on a passion for tea, holds pride of place amongst tea connoisseurs and enthusiastic tea drinkers with its uniquely delicious flavors and exquisite variety. With over three decades of tea expertise in both local and international markets, the brand is able to offer a truly differentiated experience to its consumers. 

Sri Lanka meets most of 2016-end IMF targets: FinMin

Sri Lanka has met all targets set by the International Monetary Fund (IMF) for its US $ 1.5 billion loan, except the net internal reserves (NIR), Finance Minister Ravi Karunanayake said yesterday.  The global lender had a two-week-long review discussion on the island nation’s present economic and financial situation, ever since it disbursed the second tranche in November.

Central Finance completes Isuru Leasing amalgamation

Central Finance Company PLC said its amalgamation with Isuru Leasing Company Limited has been completed and as such the latter ceased to exist as a corporate entity with effect from February 28, 2017.

Greek economy takes new blow, in the red in 2016

AFP: Debt-laden Greece’s economy suffered a new blow, contracting by 1.2 percent at the end of 2016, according to revised figures released yesterday, meaning it remained in recession for the eighth straight year.

Pan Asia Bank meets core capital requirement

The mid-sized lender, Pan Asia Bank PLC, yesterday said it was able to enhance its core capital requirement within the stipulated time frame by the banking industry regulator, the Central Bank of Sri Lanka (CBSL).  

Colombo to see second fastest growth in super rich after Vietnam: study

ECONOMYNEXT: Sri Lanka’s capital Colombo is likely to see a 160 percent growth in the super rich with more than US $ 30 million (Rs.45 billion) in personal wealth to 182 individuals over the next decade, the fastest after Vietnam’s Ho Chi Minh City, an international consultancy has said. 

BOC December net up 34%; core banking remains resilient

Bank of Ceylon (BOC) reported a December quarter net profit of Rs.6.95 billion recording an increase of 33.5 percent from a year ago as a significant tax reversal pushed up the bottom line of the largest state-owned lender, the interim financial accounts of the bank showed. 

DrinkDrive gives Lankans first taste of lifesaving transportation service

An innovative new transportation service is working to save lives and encourage Sri Lankans to take the responsible route home. 

First of its kind Canon Image Square opens in Sri Lanka

Canon Singapore (Pvt.) Ltd together with Sri Lanka’s Metropolitan Communications (Pvt.) Ltd., unveiled two document management solutions products to the local market by introducing its G-series and Maxify lineup offering latest printing technology.

Top innovation leaders from JKH, MAS, Hela, Hemas and CodeGen to speak at CCC event

The leaders driving innovation in Sri Lanka’s top firms will share expert insights and practical lessons at the upcoming ‘Future of Business’ innovation strategy and learning event organised by the Ceylon Chamber of Commerce (CCC) and will spell out the key ingredients needed in building in-house innovation teams.

Revello launches sugar-free dark chocolate in Sri Lanka

Chocolate lovers across the country can now indulge in a truly world-class premium sugar-free chocolate as the CBL Revello introduces ‘Revellosugar free dark’ – the ultimate indulgence in sugar-free chocolate.

wOw.lk introduces free delivery Sundays

Sri Lanka’s leading e-commerce site, wOw.lk, is offering its valued customers a free delivery service between Colombo 1 and 15, for all purchases that are made on Sundays. 

Footwear and Leather Fair 2017 provides much needed boost to industry

The 9th annual Footwear and Leather Fair successfully concluded at the Sirimavo Bandaranaike Memorial Exhibition Centre after 3 days, where the public were able to witness a massive range of quality footwear and leather accessories. This year attracted the highest number of visitors to the fair since its commencement.

Fast growing Direct2Door eyes Colombo takeover

Since its start as a convenience service delivering vegetables to homes in selected neighborhoods of Colombo, Direct2Door has grown significantly over a very short time frame, with the service now available across the entirety of the Colombo district, as well as many of the suburbs of Greater Colombo. 

DIMO clinches overall runners-up at ACCA Sustainability Awards 2016

Diesel and Motor Engineering (DIMO) PLC was recognized as the runners-up at the ACCA Sustainability Reporting Awards 2016, held recently at the Cinnamon Grand Hotel. 

CEMS-Global’s textile and garment exhibitions to kick-start this week

CEMS-Global USA Multinational Exhibition Organizer which launched its operations in Sri Lanka in year 2009 will hold its annual exhibitions focusing on the textile and garment industry in Sri Lanka from March 9 to 11 at the Sri Lanka Exhibition & Convention Centre (SLECC) in Colombo.

SEC introduces method to facilitate sale of SOE stakes

The Securities and Exchange Commission of Sri Lanka (SEC) has approved the Automated Trading System (ATS) rules and the corresponding amendments to the Central Depository Systems (Pvt) Ltd (CDS) rules developed by the Colombo Stock Exchange (CSE), to facilitate trading of all or none blocks (AON).

Resignations from Richard Pieris board continues

The resignation of Paul Ratnayeke, a longstanding board member of diversified Richard Pieris & Company PLC (RICH) has raised many eyebrows as the company saw the resignation of three non executive independent directors from its board last year.

Airport closure, dip in Chinese arrivals snap tourism growth for first time since 2009

Tourist arrivals to Sri Lanka edged down 0.1 percent year-on-year (YoY) in February to 197, 517 amid the partial closure of the country’s main airport and a significant drop in Chinese arrivals, the data released by the country’s tourism office showed.

NZ minister leads business delegation to Sri Lanka

New Zealand Food Safety Minister David Bennett is leading a business delegation of fourteen New Zealand companies to further strengthen business links between the two countries.

Sri Lanka’s legal process, lack of approvals delay FDIs: investment chief

REUTERS: Long delays in Sri Lanka’s legal process and a lack of speedy approvals from government institutions have delayed foreign direct investment (FDI), the head of state-run investment body chief said last week.

Rajaratnam loses bid to cut insider trading sentence

REUTERS: A federal judge has rejected Sri Lankan born Galleon Group hedge fund founder Raj Rajaratnam’s bid to void much of his insider trading conviction and shorten his 11-year prison sentence. U.S. District Judge Loretta Preska in Manhattan said Rajaratnam failed to show his actual innocence on five of the 14 counts on which he was convicted, or that two other counts should be vacated because the main government witness committed perjury

IMF’s Lagarde will not make Sri Lanka visit this month

REUTERS: International Monetary Fund (IMF) Managing Director Christine Lagarde, will not be visiting Sri Lanka this month as she had been tentatively scheduled to, the global lender said yesterday.

Strategic brainstorming on innovation and entrepreneurship

A workshop was held at the Ministry of Development Strategies and International Trade recently to discuss strategic aspects to developing a national system that supports innovation and entrepreneurship in Sri Lanka. 

NCE delegation discusses international trade with State Minister

The newly elected President of the National Chamber of Exporters of Sri Lanka (NCE) Ramal Jasinghe, Secretary General /CEO of the Chamber Shiham Marikar and other officials of the Chamber met Sujeewa Senasinghe, State Minister of Development Strategies’ & International Trade , at his office recently. 

CIMA Corporate Partners Summit to celebrate decade of shaping excellence

The CIMA Corporate Partners Programme, a business network comprised of some of the most well acclaimed organizations in Sri Lanka, will celebrate its 10th year on today.  

CCC event to provide peek into innovation strategies

Participants at the forthcoming ‘Future of Business’ innovation strategy and learning event will learn from innovation strategies of Sri Lanka’s champion firms,

Sri Lanka to draw FDIs exceeding US$ 500 mn

Despite a poor track record in attracting foreign direct investments during the last two years, a top government official yesterday said several projects around the Beira Lake area totalling over US$ 500 million are now starting to gain traction.