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.

FinMin to open 10,000MT Mannar storehouse today

Another proposal in budget 2017 will become a reality when a new storehouse in Mannar is opened with the patronage of Finance Minister Ravi Karunanayake and with the participation of several other ministers today.

Keerthi Gunawardane reappointed as ICCSL Chairman

At the 50th Annual General Meeting of the International Chamber of Commerce Sri Lanka (ICCSL) Keerthi Gunawardane was re-elected as Chairman. 

SLID poses question on women in boardroom, “Are men ready for it?”

Join the Sri Lanka Institute of Directors (SLID) at the Cedar Room, Cinnamon Grand today and get the directors’ perspective

Tourism stakeholder proposes ‘colourful stories’ to sell wildlife to tourists

Stakeholders engaged in marketing Sri Lanka tourism should be creating colourful stories of the wildlife experiences in Sri Lanka instead of presenting basic facts in order to better promote tourism, an industry veteran stressed recently.

High-level Chinese delegation to visit Sri Lanka

To mark 60 years of diplomatic relations between the People’s Republic of China and Sri Lanka, a high ranking ministerial level delegation will visit Sri Lanka in March and April this year, Cultural Attaché of the Chinese Embassy in Colombo, Liu Dong, told reporters yesterday. 

IPS calls for index-based climate insurance products for Lankan farmers

Amid reports that two thirds of the main Maha season paddy crops this year have been destroyed due to weather anomalies, the state-run policy think tank,Institute of Policy Studies (IPS), called for index-based climate insurance products to be developed for Sri Lanka’s farmers.

Ravi K wants inefficient politicians, bureaucracy out

Professionals should not allow bureaucrats and inefficient politicians to disrupt ongoing development drive, Finance Minister Ravi Karunanayake said.

Rupee ends slightly weaker on importer dollar demand

REUTERS: The Sri Lankan rupee ended slightly weaker yesterday as importer dollar demand outpaced mild greenback sales by exporters, while the market expects the downward pressure to continue until some steady foreign inflows come in, dealers said.

Arpico goes green with new eco-friendly Supercentre at Kohuwala

The shopping experience in the Kohuwala area is scaling new heights following the opening of a spanking new, environment-friendly hypermarket in the heart of the suburb by Arpico.

Singer Sri Lanka tops LMD’s Trading Company category

LMD business magazine ranked the performance of Singer (Sri Lanka) PLC, as First in the Trading Companies category for the year 2015/16 (year ended December 2015 and March 2016).  The ranking was released in December 2016.  

SLIBC bids farewell to outgoing Indonesian Ambassador

The Sri Lanka-Indonesia Business Council (SLIBC) of the Ceylon Chamber of Commerce organized a farewell for the Ambassador of the Republic of Indonesia to Sri Lanka, Harimawan Suyitno, at the Hilton Colombo Residences recently. 

Abans introduces new range of toxic-free, space-saving furniture

The unique Otello collection at Abans provides the perfect toxic-free solution for homeowners who desire both modern, eclectic style and extra storage space in their living rooms. 

Bodyline remains greenest group of apparel factories

Marking its fifth year as a CarbonConscious company, Bodyline - Sri Lanka’s leading apparel group, renewed its certification making it the first sustainability milestone under its new leadership. The company recently appointed Dinesh de Silva as CEO to spearhead Bodyline’s operations, and joining him on the directorial board is Surath Chandrasena, who has been appointed as Director Finance & Sustainability of Bodyline. 

BOI scheme to engage outstation job seekers shows great success

The Board of Investment of Sri Lanka in collaboration with the Ministry of Strategic Development and International Trade, District Secretary office, Kurunegala and the Export Development Board organized a job fair at Sir John Kotalawela College in Kurunegala recently. 

Monetary Board to probe EPF’s G-sec dealings

The Monetary Board of the Central Bank yesterday announced that an internal inquiry is underway to look into the transactions made by the Employees’ Provident Fund (EPF) in government securities (G-sec) during 2015 and 2016.

National inflation in Dec. accelerates to 4.2%

Inflation, as measured by the change in the National Consumer Price Index (NCPI), which is compiled by the Census and Statistics Department, increased marginally to 4.2 percent in December 2016 from 4.1 percent in November 2016, on an year-on-year (YoY) basis. 

Orient Finance gets shareholder nod to raise Rs.400mn via rights issue

The shareholders approved a move by Orient Finance PLC, a Janashakthi group subsidiary, to raise up to Rs.400 million via a rights issue to strengthen its Tier II capital, during an Extraordinary General Meeting (EGM) held yesterday. 

World Economic Forum interested in holding summit here: minister

The World Economic Forum (WEF) has expressed its interest in exploring the possibility of holding an economic summit in Sri Lanka in 2018, Digital Technology Development Minister Harin Fernando said yesterday. 

Bloomberg ranks Sri Lanka among highest risk countries for investors

Sri Lanka has been ranked among the highest risk countries in the world for investors by Bloomberg, which analysed as many as 29 indicators covering financial, economic and political risks. 

Local civil society orgs facing funding and staffing issues: report

The local civil society organisations (CSOs), which were pivotal in ousting the Rajapaksa regime, are facing constraints on both funding and staffing compared to their international counterparts operating in Sri Lanka, the Civil Society Organisation Sustainability Index for 2015 revealed.

John Keells tea unit returns to profitability in December

A unit of the John Keells group, Tea Smallholder Factories PLC (TSML), posted a net profit of Rs.25.89 million for the quarter ended December 31, 2016 (3Q16), against a net loss of Rs.522,000 from an year ago, the interim financial accounts showed.

EIB confirms EUR 50mn backing for Colombo water network

Affirming the Finance Ministry’s announcement on Sunday, the European Investment Bank (EIB) yesterday said it would provide 50 million euros to support improvement and expansion of sewage networks across Colombo. 

A T Cooray celebrates 90 years of creating modern office spaces

As Sri Lanka steadily makes its way to becoming a modern metropolis and global brands battle it out to be seen and heard in the city, transforming the modern office space to be more ergonomic, environmentally and employee friendly and appealing to customers is a prerequisite for all businesses despite their size and tenure in the business arena. 

NTB Amex offers exclusive savings at Keells Super

Nations Trust Bank (NTB) American Express (Amex) has partnered with Keells Super to offer exceptional savings and privileges every day of the week, exclusively for NTB Amex cardmembers. Look for these exciting promotions on your next visit to Keells Super: