Green Energy Champion Project ends on high note

President Maithripala Sirisena and German Ambassador to Sri Lanka and the Maldives Jörn Rohde officially handed over the facilities awarded for the winner of the Green Energy Champion competition, including a solar PV system, which now powers the Ananda College hostel, at a ceremonious event tagged ‘Harithananada’. 

3WC to launch first int’l Black Belt in Retail Programme in Sri Lanka

3WConsulting (3WC), Sri Lanka’s leading enterprise renewal and management consultants, together with the Global Retail Association (GRA) has announced the launch of the international Retail Mastery Programme, which will introduce the country’s first International Black Belt in the Retail Series. 

German Embassy Colombo funds Vote for a Woman project

On January 17, 2017, Ambassador Jörn Rode participated in the opening ceremony of the awareness campaign, Vote for a Woman, a project of the Centre for Policy Alternatives (CPA), which is funded by the Federal Republic of Germany. 

JCI Sri Lanka appoints new Director Marketing

Junior Chamber International (JCI) Sri Lanka appoints Christopher Wijeyakulasuriya as Director Marketing to the National Board. 

CCC to hold seminar on capital structure management

The Ceylon Chamber of Commerce (CCC) will hold a seminar under the title of ‘Capital Structure Management for Better Financing’ in  a bid to help the finance sector professionals maintain a healthy capital structure in their firms.

Agri seminar today

The Marga Institute and Gamani Corea Foundation are conducting a seminar on ‘The Future of Agriculture in Sri Lanka and Food Security’ today, from 3:30 p.m. to 6:30 p.m., at the BMICH Committee Room D.

Hemas and GAC break ground for integrated logistics facility

The Hemas Group together with the GAC Group Sri Lanka are planning to build a modern, 15-acre integrated logistics facility in the Muthurajawela Industrial Zone, with a state-of-the-art distribution centre, container yard and a warehouse facility.

UN food agency hopes for continued US funding

AFP - The head of the World Food Programme said she was hopeful of continued US funding for the organisation, despite reports that Washington was mulling heavy cuts in financial support.

India’s largest trade chamber ASSOCHAM keen to invest in Northern Province

India’s largest trade chamber, the Chamber of Commerce and Industry of India (ASSOCHAM) expressed its interest in investing heavily in the Northern Province during the Jaffna International Trade Fair which was held recently, a communiqué from the Industry and Commerce Ministry said.

Temasek fund invests US$800 mn in Alphabet subsidiary

AFP - Singapore-based sovereign fund Temasek will invest US$800 million in Verily, the Alphabet subsidiary focused on healthcare announced on Thursday.

Rupee steady in thin trade

REUTERS: The Sri Lankan rupee traded steady in thin volume yesterday as dollar selling by exporters and inward remittances outpaced demand for the U.S. currency from importers, dealers said. 

Most Asia markets up, Tokyo lifted by weak yen

AFP - Most Asian markets rose again yesterday following another positive lead from Wall Street, with Tokyo boosted by a plunging yen, although traders remain nervous about the outlook for global trade with Donald Trump in the White House.

EU slaps China with new steel anti-dumping duties

AFP - The EU slapped definitive anti-dumping duties on steel products from China and Taiwan yesterday, as it broadens its campaign to protect struggling steel manufacturers in Europe.

Opposition group sabotaging govt.’s development efforts: FinMin

In an attempt to garner support for the coalition government’s plan to monetize some of the mega infrastructure projects built by the previous regime, Finance Minister Ravi Karunanayake yesterday urged the public to think rationally and not get swayed by the misleading remarks of Opposition politicians. 

Key segments boost John Keells December profits to Rs.5.1bn

Premier blue chip John Keells Holdings PLC saw its December quarter (3Q17) performance bolstered by its key business segments transport; leisure, retail and financial services, but the property segment saw a dent until the new projects under construction start contributing to the finances. 

TeeJay Lanka 3Q profits hurt by higher costs, income tax payments

Teejay Lanka PLC, a unit of leading apparel exporter, Brandix Lanka Limited saw its December quarter (3Q17) profits declining a sharp 30 percent to Rs.473. 4 million or 68 cents per share from a year ago due to steeper rise in costs, finance expenses and higher income tax payments, the interim results showed. 

Sri Lanka 2016 tea output falls to 7-year low

REUTERS: Sri Lanka’s tea output hit a seven-year low in 2016, falling 11.1 percent in its third straight year of declining production, the state-run Tea Board said yesterday. 

Lanka Tiles expands operations to India

To meet the rapidly growing demand for wall and floor tiles in the local market, Lanka Tiles recently entered into a strategic partnership with an Indian tile manufacturer Ambani Vitrified (Pvt.) Ltd.  The successful venture has seen Lanka Tiles placing a large order with the expectation of releasing more quantities of 24” x 24” tiles to the market in order to meet the escalating market demand. These tiles will also comply with t

Fitch re-affirms BOC AA+ (lka); outlook Stable

Fitch’s periodic review re-affirmed the Bank of Ceylon’s (BOC) National long-Term Rating at AA+ (lka) with a Stable outlook this January and the International Long-Term Issuer Default Rating (IDR) as B+ outlook Negative. 

Ease of Doing Business Forum today

The Finance Ministry will be holding the eleventh Ease of Doing Business Forum today 2017 at 2.00 p.m. at the fourth floor auditorium of MILODA Academy of Financial Studies, (Old Times Building) located at Sir Razik Fareed Mawatha, Colombo 01. 

Metropolitan Communications wins international award for innovation

Metropolitan Communications was recognized as the winner under the Government and Public Services category at the Asia Enterprise Innovations awards held in Singapore recently. 

Unilever-Cargills reward Shopping Star – Season Four winners

Unilever Sri Lanka together with Cargills Food City drew the curtain on 2016 with the action-packed grand finale of the Shopping Star – Season Four promotion, held at the Thalawathugoda Cargills Food City outlet, recently. 

Dole Lanka terminates services of labour outsourcing firm

Dole Lanka (Pvt.) Ltd – a subsidiary of Dole Asia Holdings Pte., the world’s largest producer and marketer of high-quality fresh fruits and fresh vegetables, recently terminated the contract with one of its labour outsourcing companies, Southern Force Ltd.

Harsha hails China as new white knight of free world

Sri Lanka’s Deputy Foreign Affairs Minister Dr. Harsha de Silva this week labelled Chinese President Xi Jinping as the new champion of trade and globalization of the free world, who would fill the vacuum created by US President Donald Trump with his inward-looking political and economic policies.  

Energy regulator wants CEB to fast-track connecting domestic solar panels to national grid

The electricity sector regulator, the Public Utilities Commission of Sri Lanka (PUCSL), yesterday directed the Ceylon Electricity Board (CEB) and Lanka Electricity Company Private Limited (LECO) to connect the domestic rooftop solar panels to the national grid within two weeks from the date of application.

US TPP withdrawal has negative implication on Asian economies: Moody’s

US President Donald Trump’s decision to withdraw the US from the Trans-Pacific Partnership (TPP) would have an adverse effect on the income levels and structural reform programmes of its partners in Asia, international ratings agency Moody’s Investors Service said yesterday.

Rupee rises; cbank revises spot ref. rate to record low

REUTERS: The Sri Lankan rupee ended slightly firmer yesterday, recovering from losses earlier in the day as dollar selling by foreign banks helped gains despite the Central Bank revising the spot reference rate by 10 cents to a record low, dealers said.

Mattala Airport in full throttle

Mattala Rajapaksa International Airport (HRI), which was once dubbed as a ghost airport by both local and foreign commentators, has suddenly turned into life becoming one of the busiest airports in the world, due to the temporary closure of Bandaranaike International Airport (BIA) for the relaying of its decade-old runaway. 

Grain Elevators 4Q net edges down; full-year profit up

Sri Lanka’s largest listed poultry producer, Ceylon Grain Elevators PLC (GRAN), has posted a net profit of Rs.369.12 million for the quarter ended December 31, 2016 (4Q16), down from Rs.387.94 million year-on-year (YoY), despite the period being the festive season.

Shares hit near 10-mth closing low; foreign selling boosts turnover

REUTERS: Sri Lankan stocks fell for a third straight session yesterday to close at their lowest in nearly 10 months, dragged down by beverages and banking shares, as concerns over rising interest rates and ongoing political instability weighed on sentiment.