Sri Lanka’s trade deficit widens as exports continue to falter

Sri Lanka’s trade deficit for November 2016 widened 47.2 percent Year-on-Year (YoY) to US$ 922.4 million due to higher imports expenditure amid a decline in exports, the data released by the country’s Central Bank showed. 

SL invited to address top finance forum

Sri Lanka has been invited to deliver the keynote address at the fourth High-Level Dialogue on Financing for Development in Asia and the Pacific, a Finance Ministry statement said.

Colombo City Centre mall to open ahead of schedule: official

The mall at the Colombo City Centre (CCC) mixed development project will be opened ahead of schedule for the December 2017 festive season, the Abans Group, one of the joint venture partners of the project, said.

HNB saga takes new twist; Harry J wants Dinesh as director

Business tycoon Harry Jayawardena appears to be pushing for the appointment of ex-Commercial Bank Chairman Dinesh Weerakkody to the board of Sri Lanka’s second largest private bank, Hatton National Bank PLC (HNB), amid a legal battle to bring in a new overseas investor that has requested rights for a vacant director seat.

Office space developer RIL Property’s Rs.960mn IPO gets CSE nod

RIL Property Limited (RIL), a developer, owner and operator of commercial office space in Colombo received in-principle approval from the Colombo Stock Exchange for a listing of its ordinary voting shares through an initial public offering (IPO).  RIL intends to offer 120 million ordinary voting shares to the public priced at Rs.8 per share to raise Rs. 960 million.  The funds raised through the IPO will be utilised to expand the busine

Hidden-hand blocking Sri Lanka’s anti-dumping law?

Despite numerous assurances given that a new Bill would be passed to protect the domestic produce from cheaper imports by the beginning of this year, a powerful hand in the coalition regime appears to be blocking the passage of the law, Mirror Business learns. 

SLIM-ESF features business tycoon S.R. Gnanam

The latest SLIM Experience Sharing Forum (ESF) was held recently at The Kingsbury Hotel featuring St. Anthony’s Group Managing Director S.R. Gnanam as the guest speaker. 

K. Sivagananathan Memorial Oration and Awards tomorrow

The 15th Annual K. Sivagananathan Memorial Trust (KSMT) Awards will be held tomorrow. 

Indonesian Vice Minister visits Business Council

A. M. Fachir, Vice Minister for Foreign Affairs of the Republic of Indonesia visited Sri Lanka recently during which time he met with the executive Committee of the Sri Lanka Indonesia Business Council along with other businessmen for a discussion

JICA helps communities resettle under new Kelani bridge construction project

Sedawatta and Wadullawatta communities live at the edge of the Kelani river virtually under the bridge at Peliyagoda. For many these communities may be merely an eyesore. And many forget that those living under the bridge are also residents of Colombo, with rights, hopes, dreams and aspirations as those going on the bridge.

BT Group agrees to separate broadband unit

AFP -  British telecoms giant BT Group has agreed to legally separate its broadband unit Openreach to remedy concerns over competition in the sector, the company announced yesterday.

Rupee rises slightly in dull trade; stocks down

REUTERS: The Sri Lankan rupee rose slightly yesterday in dull trade as exporter dollar sales surpassed the importer greenback sales a day after Central Bank’s moral suasion curbed further decline, dealers said.

New US environment chief questions carbon link to global warming

AFP - The incoming head of the US Environmental Protection Agency said this week that carbon dioxide is not the main driver of global warming, a position starkly at odds with the scientific consensus on climate change.

US oil slides below US$50 as ECB ups growth forecast

AFP - Oil prices took a battering on Thursday, with US prices falling below US$50 a barrel for the first time this year, amid worries about increased American shale production in the wake of ramped-up capital investment.

CIM Sri Lanka sets stage for first 2017 networking event

The Chartered Institute of Marketing Sri Lanka (CIM Sri Lanka) will be hosting its first networking event for this year titled ‘Evolution of Music in Sri Lanka’ on March 17, 2017, at the CIM office, No: 20, Deal Place A, Colombo 3, at 6:00 p.m.

NDB Capital Scholarship Trust conducts public speaking training for scholarship students

NDB Capital Scholarship Trust of NDB Capital Holdings Limited (NCAP) is different from other scholarship schemes which provide financial support for university students. Whilst granting financial assistance throughout the university studies, the Trust also supports to produce graduates who are more likely to succeed in the workforce and more appropriately skilled for gainful employment through its career counselling, internships, leadership and o

Women’s Day celebrated with Sari Connection’s Jaffna, Mullaitivu seamstresses

On Saturday, March 4, an event was held at the Barefoot Gallery Colombo to mark the International Women’s Day and showcase the Sari Connection project and its unique products with seamstresses from Jaffna and Mullaitivu.

Eser Marketing MD launches two books on keeping fit

Eser Marketing Managing Director Harindra Eladetta launched two books authored by him recently. The book in Sinhala is titled ‘Wyayama Awashyada?’ and the book In English is titled ‘Fitness of Human Being’. 

Asia markets tepid after another crude sell-off but Tokyo rallies

AFP - Japanese shares rallied yesterday as the dollar surged against the yen ahead of key US jobs data, while other Asian markets swung as energy firms were hit by another sharp sell-off in oil. With the Federal Reserve all but certain to hike US interest rates at a much-anticipated meeting next week the non-farm payrolls release later in the day will be pored over for clues on bank policymakers’ plans for the rest of the year.

Nawaloka Hospitals wins ACCA Sustainability Award

Nawaloka Hospitals PLC was awarded the top award in the General Services and Utilities category at the ACCA Sustainability Reporting Awards 2016, organised by the Association of Chartered Certified Accountants (ACCA) Sri Lanka. 

Samsung rewards Kirindiwela Singhagiri branch that produced a winner

Samsung gave away a Rs.1 million cash prize to the Kirindiwela Singhagiri branch from which the lucky winner Ruwan Tharanga won his apartment in the innovative Win Your Home consumer promotion conducted by Samsung recently.

Sri Lanka impresses at ITB travel show, attracts German market

The Sri Lanka pavilion was a star attraction at the ITB Berlin 2017 international travel show which opened in Germany this week. 

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.