Rupee ends little changed

REUTERS: The Sri Lankan rupee closed largely unchanged yesterday as importer dollar demand almost offset the inward remittances after the country’s Central Bank raised benchmark interest rates by 25 basis points.

Royal Cashews introduces NZ’s Manuka Honey to Lankan market

Cashew processing company ‘Royal Cashews’, has teamed up with New Zealand Honey Company to introduce world famous ‘Manuka Honey’ and other specialty honey products to Sri Lankan consumers. 

Sadaharitha launches mobile office to promote forestry

Commercial forestry is rapidly gaining ground in Sri Lanka and the company that is the undisputed leader in this eco-friendly, futuristic investment, Sadaharitha Plantations, has just launched a novel promotional vehicle that doubles up as a mobile office for the convenience of customers.  

Top European Investment Bank delegation in town

A high-level delegation from the European Investment Bank (EIB), the world’s largest international public bank, is in town on an official three-day visit to explore new opportunities for future investments, an EIB press communiqué said.

Central Bank says H’tota port sale ‘crucial’

Sri Lanka’s fragile economy now appears to be at the mercy of receiving a billion dollars from China in exchange of 80 percent stake in Hambantota port under a 99-year lease agreement, as the country’s fiscal and external sector headroom is thinning, making any more maneuverability virtually impossible.

Ravi K says award in recognition of country’s financial discipline

Sri Lanka’s financial discipline has been recognized internationally by selecting the country’s Finance Minister Ravi Karunanayake as the ‘Best Finance Minister of the Asia Pacific Region’ by the London-based financial magazine ‘The Banker,’ a Finance Ministry statement said yesterday. 

Lankan shipbuilder explores new opportunities to stay afloat

Colombo Dockyard PLC (DOCK), Sri Lanka’s only player in ship building and heavy engineering industry,

Hemas carries out Rs.5 bn restructuring exercise on travel and leisure subsidiaries

Diversified conglomerate Hemas Holdings PLC appears to be having a closer look at its subsidiaries and associate companies under different business segments to place them where they fit the best to better structure and manage them.

Oil producers meet on output cuts, possible rollover

AFP: OPEC and non-OPEC producers began meetings in Kuwait yesterday to assess the impact of a milestone production cuts deal and to decide on whether to recommend they be extended.

Laugfs Group Chairman receives ‘Deshabandu’ honour

The founder Chairman of Laugfs Holdings, W.K.H. Wegapitiya, was honoured with the Deshabandu title at the recently concluded National Honours 2017 Ceremony. 

Hameedia launches novel ‘AndumMesaya’ promotion to celebrate Avurudu

To celebrate the Sinhala and Tamil New Year, Hameedia, Sri Lanka’s leading menswear specialist recently launched the very first ‘AndumMesaya’ 

Sri Lanka’s Waves to hit the shores of Dubai

Flip flops are a must have in an island culture. It has stood the test of time and is the popular comfort wear choice for all ages. Waves is a name synonymous to quality, fashionable and colorful flip flops in Sri Lanka, and the brand is a pioneer in taking the much loved foot comfort to the international arena.

CIC Seeds felicitates twenty long-standing farmers

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

Pan Asia Coloured Yarns awarded OekoTex Standard 100 and ISO Certification

Sri Lanka’s producer of polyester and nylon yarn, Pan Asia Coloured Yarns (PACY) was awarded the highest grade of OekoTex Standard 100 certification following a series of stringent tests carried out at the Hohenstein Textile Testing Institute, Germany. 

EDB in search of Jaffna exporters

An awareness seminar was arranged to establish  new exporters  from the Jaffna  district by the Sri Lanka Export Development Board at the  District  Secretariat  Auditorium Jaffna recently. 

Ceylon Chamber marks 178 years of service to the nation

The Ceylon Chamber of Commerce, Sri Lanka’s premier Business Chamber will complete 178 years of service to the nation on the 25th March, marking yet another achievement for an organization, which has played one of the most decisive roles in transforming the commercial landscape of Sri Lanka, since its inception in the 19th century.

Huawei with Singer launch credit card offers

Huawei, the number one growing smartphone brand in Sri Lanka together with the country’s number one retailer Singer Sri Lanka is introducing a special credit card offer for the festive New Year celebrations this year.

National Chamber commends  National Honour Awards

The National Chamber of Commerce takes pride and applauds the government’s move in conducting the ‘National Honour Awards 2017’, for the most  distinguished personalities of the country who have made great achievements in public life and rendered  a noble service with outstanding contribution  to the nation. 

National Chamber workshop on ‘Online submissions of tax returns’

A half day workshop  on ‘Online submissions of tax returns’ on VAT,SVAT,NBT & PAYE will be held on  March 31st from 8.30 a.m to 12.00 noon at the Chamber Auditorium, Colombo  10, organized by the National Chamber of Commerce in collaboration with the Dept of Inland Revenue.

Policy rates increased to discourage cheap credit, keep inflation under check

Sri Lanka’s monetary authority yesterday decided to raise its key policy rates by 25 basis points making it further pricey for the banks to borrow, in a proactive measure to contain further rise in prices of the goods and services of the economy. 

Asian traders on edge ahead of key US healthcare vote

AFP : Asian markets tentatively rose yesterday as they look to a delayed vote on US healthcare reform whose passage is seen as crucial to the future of Donald Trump’s growth-drive agenda.

Democrats press Trump SEC nominee for Wall Street regulator

AFP: President Donald Trump’s pick to serve as the chief US financial markets regulator defended himself Thursday against charges his career as a Wall Street lawyer could hinder his ability to oversee the industry effectively.

World Bank in tripartite initiative to boost private sector competitivenss, exports

The Australian Department of Foreign Affairs and Trade (DFAT), the Ministry of Development Strategies and International Trade (MODSIT) and the World Bank have launched a joint programme of technical assistance and advisory services to the Government of Sri Lanka (GoSL) to enhance the competitiveness of the private sector and unleash the potential of Sri Lankan exports.

Rupee weaker despite Central Bank rate hike

REUTERS: The Sri Lankan rupee traded weaker yesterday on importer dollar demand despite the Central Bank’s decision to raise key rates by 25 basis points in a move to ease the pressure on the currency.

Workers end strike at world’s biggest copper mine

AFP : Workers at the world’s largest copper mine, BHP Billiton’s Escondida in Chile, ended a lengthy strike Thursday that had caused turbulence on global copper markets.

Germany calls for EU help in steel showdown with US

AFP : Germany yesterday called on the European Commission to back its steelmakers by insisting on global trade rules in a dispute with US competitors.

NDB sponsors Auto Vision Motor Show

National Development Bank (NDB) recently sponsored the Auto Vision Motor Show 2017 exhibition held from March 17 to 19, at the BMICH. 

BMICH remembers founder on International Women’s Day

The S.W.R.D. Bandaranaike National Memorial Foundation (BMICH) joined the world community recently in celebrating the International Women’s Day, and its 2017 theme ‘Be Bold For Change’. 

Hameedia supports ‘Battle of the Maroons’

Hameedia, Sri Lanka’s leading menswear specialist, continues its sponsorship as the official clothing partner for the legendary Battle of the Maroons clash for the second consecutive year.

Emirates SkyCargo brings world’s best racehorses to Dubai

Emirates SkyCargo, the freight division of Emirates airline, has been transporting some of the world’s best racehorses to Dubai for one of the most prestigious global racing events, the Dubai World Cup, which will take place on March 25, at the Meydan racecourse.