CCC and CBB host UK biz delegation

The Ceylon Chamber of Commerce(CCC) together with the Council for Business with Britain organized a business forum with a visiting business delegation, which was led by the British Sri Lankan Association (BRISLA), United Kingdom.

Royal Institute Colombo wins CFA Sri Lanka Research Challenge 2017

CFA Sri Lanka announced that Royal Institute of Colombo won the local competition of the CFA Institute Research Challenge 2017 and would advance to the Asia Pacific Regional round where they will compete against leading universities from the region. 

Central Bank may surprise with a rate hike: poll

REUTERS: Sri Lanka’s Central Bank could raise its key policy rates in coming months if it skips a chance to tighten next week, a Reuters poll showed, underlining renewed pressure on the rupee after the Federal Reserve’s rate hike last month. 

Call to protect independence of Auditor General

An Appeal to safeguard the independence, integrity and professional position of Auditor General I write this appeal to you, this day our nation celebrates its 69th Anniversary of Independence,

Chinese envoy to deliver 13th Sujata Jayawardena Memorial Oration

The Ambassador of the People’s Republic of China Yi Xianliang is scheduled to deliver the 13th Sujata Jayawardena Memorial Oration on the topic “One Belt, One Road - Sri Lanka - China Relations.” on 15th February at the BMICH. 

Sri Lanka’s major religious places switch to solar power with JLanka

Solar power solutions provider JLanka has taken an initiative to install solar photovoltaic systems to the country’s major religious places of worship and religious institutions.

Odel pays tribute to denim’s timeless appeal with Spring 2017 collection

Denim never goes out of fashion, but the ubiquitous fabric gets fresh expression in a dynamic and chic new Spring collection unveiled by Odel, already the largest fashion repository in the country. The new collection reinforces Odel’s status in on-trend fashion, as the go-to destination for branded denim wear from leading global brands.

SAGT receives top award from Global Ports Forum

South Asia Gateway Terminals (SAGT), the first private container terminal operator in Sri Lanka with approximately 60 percent Sri Lankan stake, has yet again featured Sri Lanka prominently on the world maritime stage.   

Sadaharitha team tours Assam to harvest best practices in agarwood

A delegation from Sadaharitha Plantations Ltd, including the company’s Chairman Sathis Nawarathne, toured Assam, in the south of the eastern Himalayas recently, to get a hands-on experience of growing and marketing agarwood, which is considered to be the world’s most sustainable investment in commercial forestry.  

Mobitel Cash Bonanza Montero Extravaganza awards 12th lucky winner

The 12th lucky winner of Cash Bonanza Montero Extravaganza 2016, introduced by the national mobile service provider, SLT Mobitel, to walk away with the Montero for December 2016 was Gunarathnarajah Ariyarathnam from Dehiwela. 

SEC announces Rs.100mn shareholders’ fund requirement for brokers

Giving effect to a long awaited reform to consolidate the overcrowded stock broking industry, Sri Lanka’s capital market regulator, the Securities and Exchange Commission (SEC),

Sri Lanka eyes China free trade deal this year, PM to visit in May

REUTERS: Sri Lanka aims to finalize a free trade agreement with China this year and the country’s Prime Minister will visit Beijing in May, the Sri Lankan Ambassador said on Saturday, amid rising concern in the South Asian nation about Chinese investment.

Hayleys Fabric December profits down 83%

The Hayleys group knitted fabric manufacturing unit, Hayleys Fabric PLC, reported a net profit of 6 cents a share for the quarter ending December 2016, against 34 cents a share recorded during the same quarter last year, the interim report of the company showed. 

Lankan tyre exports to US to be slapped with anti-dumping duties

Certain new pneumatic off-the-road tyres imported to the US from Sri Lanka and India will shortly be subjected to anti-dumping and countervailing duties following a recently concluded United States International Trade Commission (USITC) investigation.

January tourist arrivals up 13% despite partial airport closure

Tourist arrivals to Sri Lanka this January grew by 12.9 percent year-on-year (YoY) to 219,360, despite the country’s main airport in Katunayake being closed for a considerable period of time.

Senkadagala Finance to raise Rs.580mn via rights to remain capital-rich

Senkadagala Finance PLC, a licensed finance company with an asset base of just under Rs.29 billion last week announced its plans to raise equity capital via a rights issue to maintain the minimum regulatory capital requirements, a disclosure to the Colombo Stock Exchange said. 

Expolanka sees tougher conditions as December profits fall

Diversified freight and logistics firm, Expolanka Holdings PLC, saw its December quarter (3Q17) performance being hampered through the “challenges arising from constrained returns from passive investments combined with the impact of a drop in exchange gains”, the interim report filed by the company said. 

FinMin chief guest at SL-ADB 50-year partnership ceremony today

Finance Minister Ravi Karunanayake will be the chief guest on the occasion of the celebration to mark the 50 years of Sri Lanka’s partnership with the Asian Development Bank (ADB).

London and Home Counties retains MTI Consulting

The London and Home Counties (LHC) region of the Club Managers Association of Europe (CMAE) retained MTI Consulting, whose Senior International HR Consultant Darshan Singh was in London this week for this initiative. 

KOPIA Sri Lanka Centre facilitates onion production

The Korea Programme on International Agriculture (KOPIA) Sri Lanka Centre donated 25 drip irrigation system units, 40 power spreading machines and 1,000 plastic containers to transport onion mother-bulbs for vernalization to a total of 40 Sri Lankan farmers in Gelenbindunuwewa, Hambantota and Mannar.

Trade deficit widens 33% as exports slow down

Sri Lanka’s external trade deficit widened by 32.9 percent year-on-year (YoY) to US$ 1.05 billion last October, as a 2-month export growth spurt slowed down, while importation of equipment for the Colombo Port City project boosted imports.

Footwear and Leather Fair

Industry and Commerce Minister Rishad Bathiudeen checking out some items on display at the 9th Footwear and Leather Fair 2017 at BMICH yesterday.  Pic by Kithsiri de Mel

Asia markets struggle at end of volatile week

AFP- Asian traders moved cautiously yesterday, at the end of a volatile week and following another tepid lead from Wall Street while focus shifts to the release later in the day of US jobs figures. Markets have struggled to find stability over the past five days following Donald Trump’s controversial ban on travellers from seven Muslim-majority countries and claims that China and Japan were currency manipulators.

Gold shines in 2016 on keen investment demand: WGC

AFP - Demand for gold rose in 2016 to a three-year high, aided by keen investment appetite for the precious metal, the World Gold Council said yesterday in a report.

Rupee falls on dollar demand from importers, banks

REUTERS: The Sri Lankan rupee fell yesterday due to dollar demand from importers and banks as foreign investors continued to sell government securities, dealers said.

Hyundai to assemble cars in Pakistan in venture with textile group Nishat Mills

REUTERS: Hyundai Motor Company plans to set up a car assembly plant in Pakistan in a joint venture with Pakistani textile giant Nishat Mills, a Nishat Mills official said yesterday. 

Japan pension funds denies investment as sop to Trump

AFP - Japan’s public pension fund on Thursday denied a report it will invest in US infrastructure as part of Prime Minister Shinzo Abe’s expected offer to President Donald Trump to help boost US employment.

Shares hit 10-mth low ahead of cbank policy review

REUTERS: Sri Lankan shares fell to a 10-month low yesterday, dragged down by banking and beverage stocks, 

CIM SL participates at EDEX for 11th consecutive year

The Chartered Institute of Marketing, Sri Lanka participated at the EDEX Expo exhibition, Sri Lanka’s largest education and job fair held at the BMICH Colombo from 20th to 22ndJanuary. 

India looking at strengthening bilateral ties with Sri Lanka via proposed trade pact

The Indian High Commissioner in Sri Lanka this week had said hopes Sri Lanka and India to sign the proposed trade pact without further delay, in order to strengthen bilateral ties between the two countries, a Finance Ministry communiqué said.