Noritake enters 2017 on winning note with National Quality Award

Noritake Lanka Porcelain (Pvt) Limited entered the new year on a winning note by being awarded the National Quality Award in the Large Manufacturing Category at the National Quality Awards at the Colombo Hilton recently. 

NCE participates in JITF for 4th consecutive year

National Chamber of Exporters of Sri Lanka (NCE) Secretary General Shiham Marikar along with officials participated in the Jaffna International Trade Fair (JITF) held recently.

Czech Republic envoy calls on Malik

Czech Republic Ambassador for Sri Lanka Milan Hovorka called on Development Strategies and International Trade Minister Malik Samarawickrama at the ministry this week. He was accompanied by Czech Republic Consul General for Sri Lanka Dr. Lohitha Samarawickrema. The dignitaries held bilateral talks to enhance investment and trade between the two countries. 

Sri Lanka woos Middle East market at IMTM

Renewed efforts are being made to position Sri Lanka as an attractive destination for the outbound Middle East tourism market, Sri Lanka’s Tourism Ministry said. 

India’s Modi says cash crackdown a fight for the poor

REUTERS:  Indian Prime Minister Narendra Modi yesterday defended his decision to abolish high denomination bank notes that has left the economy reeling, calling it a fight’ for the poor.

Finnish govt. keen to invest in Sri Lanka

The Ambassador of Finland to Sri Lanka Rauli Suikkanen said that he would call leading entrepreneurs of his country to invest in Sri Lanka. 

Govt. in talks to alleviate impact of US taxes on OTR tyres

The Sri Lanka’s Commerce Department is currently fighting what it calls an erroneous imposition of countervailing duties on Sri Lankan made pneumatic off-the-road (OTR) tyre exports to the US, with the aim of reducing or removing the duties, Mirror Business learns.

Renuka Agri Foods December net up to Rs.76mn

Renuka Agri Foods PLC, a Renuka group company, which has interests in food manufacturing and plantations, posted a Rs. 75.67 million net profit for the quarter ended December 31, 2016, up from Rs. 65.19 million year-on-year (YoY), financial statements released to the Colombo bourse indicated. Earnings per share increased to Rs. 0.13 from Rs. 0.12 YoY.

Rupee slips on bank dlr buying, cbank reference rate revision

REUTERS: The Sri Lankan rupee ended slightly weaker yesterday due to dollar demand from banks as foreign investors continued to sell government securities, while the Central Bank revised the spot reference rate to a record low of 150.75, dealers said.

Ceylinco General Insurance posts strong numbers for 2016

Leading insurer, Ceylinco General Insurance Ltd, has announced excellent results for the year ended December 31, 2016, with premium income growing by Rs.2.5 billion or 18.9 percent year-on-year (YoY) to Rs.16.1 billion.

AIA-DFCC enter into strategic bancassurance partnership

AIA Insurance Lanka PLC has entered into an exclusive, long-term, strategic bancassurance partnership with DFCC Bank PLC, marking another key milestone in the AIA-DFCC relationship. 

Seylan Bank launches Viber sticker pack with Seylfie product

With Viber users in Sri Lanka reaching over six million and Viber being the most downloaded app in Sri Lanka, Seylan Bank decided to launch a sticker pack to promote its new youth banking product – Seylan Seylfie – to reach the youth of Sri Lanka using Viber.

Dr. Kelegama to deliver 27th J.E. Jayasuriya Memorial Lecture

The 27th J.E. Jayasuriya Memorial Lecture, to take place on Monday, February 13, 2017, will be delivered by Institute of Policy Studies of Sri Lanka Executive Director Dr. Saman Kelegama on the topic ‘Non-State Actors in Higher Education in Sri Lanka: Issues and Challenges’. 

Call to protect independence of AG

Good governance activist and retired private sector executive, Chandra Jayaratne has written to the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) to come forward to protect the independence of the country’s Auditor General (AG), who is a member of the institute. 

Japanese consortium to invest US $ 15mn in solar power plant

A US $ 15 million project for the establishment of a solar power plant in Sri Lanka is underway with investments from three Japanese companies through a Japanese consortium.  

Access group profits up 15% in December as construction activities resume

The leading infrastructure developer, Access Engineering PLC (AEL), performed better during its December quarter due to the rebound in construction activities, but the steeper rise in tax expenses took the glow out of otherwise excellent results, the interim accounts filed with the Colombo Stock Exchange showed.  

Rupee slips on dollar buying by banks ahead of rate call

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

Oil stuck near US $ 57 as Iran, OPEC countered by US drilling rebound

REUTERS: Oil steadied close to US $ 57 barrel yesterday as the rising tensions between the US and Iran and OPEC supply cuts were countered by ample inventories and signs that higher prices will revive US output.

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.