SL delegation arrives in Thailand for 4th Bangkok talks

As major changes are sweeping the 42-year long historic Asia Pacific Trade Agreement (APTA – also known as Bangkok Agreement), a top official delegation left Sri Lanka on January 10 to attend the latest Bangkok Agreement talks in Thailand.

UTE Engineering Services achieves official recognition with ISO 9001:2015

United Tractor & Equipment (Pvt) Limited (UTE) is one of the first companies in Sri Lanka in the power generation engineering solutions sector to successfully achieve the new ISO 9001:2015 certification standard for sales and marketing of power generators with related engineering solutions.

Linea Aqua obtains WaterNeutral certification for Hanwella factory

Leading swimwear manufacturer Linea Aqua (Pvt) Ltd announced its latest landmark accomplishment in the field of environmental sustainability through obtaining WaterNeutral certification for its Hanwella factory, thereby making it the first apparel manufacturing facility in the world to have achieved this status. 

Sri Lanka to raise US $ 1.5bn through bonds in new year

AFP: Sri Lanka announced yesterday it would raise US $ 1.5 billion through a domestic bond sale this year as it moves to rebuild its foreign exchange reserves.

JLanka wins big at Entrepreneur Awards

Dr. Mayura Jayasoma, CEO and Technical Director of JLanka Technologies was recognized for his entrepreneurial vision by the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL), at the Sri Lankan Entrepreneur of the Year Awards ceremony held at Stein Studio Rathmalana. 

JITF: An opportunity to reap benefit from emerging North

The Jaffna International Trade Fair (JITF 2017), the largest consumer exhibition and trade fair in the fast-growing northern region of Sri Lanka, will be held from January 27 to 29, 2017 for the eighth consecutive year, with all arrangements in place to make it a great success for private and public sector companies, suppliers, buyers/procurers, academics, students and the public.

BIA inconveniences due to partial closure eased: minister

The initial congestion caused as a result of the partial closure of the Bandaranaike International Airport (BIA) beginning January 6 has now been completely eased according to the Minister of  `Tourism Development. 

Yahoo to be named Altaba, Mayer to leave board after Verizon deal

REUTERS: Yahoo Inc said it would rename itself Altaba Inc and Chief Executive Officer Marissa Mayer would step down from the board after the closing of its deal with Verizon Communications Inc.

SLTDA to introduce new regulations to empower small accommodation providers

Sri Lanka Tourism Development Authority (SLTDA) will be introducing regulations and providing greater support to small scale accommodation providers who have been the fastest growing segment in the country’s hospitality industry, according to a  leading official.

Shares end marginally lower; T-bill yields hit 4-mth high

REUTERS: Sri Lankan shares erased early gains to end marginally lower yesterday as yields on short-term government securities rose in a weekly auction amid uncertainty over government’s monetary and budget policies.

Rupee marginally up on dollar sales

REUTERS: The Sri Lankan rupee ended slightly firmer yesterday as foreign banks and some exporters sold dollars, but dealers expect the strength to be short-lived on lingering concerns after the Central Bank last week changed its intervention policy. The rupee has been under pressure due to rising imports and net selling of government securities by foreign investors, dealers said.

CMA members approved to register as company secretaries

As per the Extraordinary Gazette No. 1998/11 of December 20, 2016, under the Companies Act No. 7 of 2007 made by the industries and commerce minister reads as follows: Companies (Secretaries) Regulations published in the Extraordinary Gazette 471/6 of September 14, 1987 by the addition of the following sub section ix as a new subsection under section 2(1)(b), which reads as follows.

Shangri-La names VP, GM, Director Sales and Marketing for Colombo

Shangri-La Hotels and Resorts announced the appointment of Timothy Wright as Vice President and General Manager and Chris McFall as Director Sales and Marketing for Shangri-La Hotel, Colombo due to open during the second half of 2017. 

Chambers and businesses briefed on commercial mediation

Introduction of ‘commercial mediation’ will offer Sri Lanka’s business community an optional dispute resolution mechanism in addition to litigation and arbitration, both of which are riddled with delay and expense.

ITN-Abans join hands for ‘Sooryabala Sangramaya’

ITN joined hands with Abans for ‘Sooryabala Sangramaya’, an initiative to generate electricity using solar power to fulfill ITN’s energy consumption.

SL–Italy Biz Council to commence fourth batch of Italian language course

The Sri Lanka–Italy Business Council of the Ceylon Chamber of Commerce will launch the fourth batch of its successful Italian language course on February 18, 2017.

Words of wisdom from Prof. Hausmann over Lankan exports push

An internationally acclaimed economist yesterday called on Sri Lanka to diversify its technological know-how before seeking investments to boost exports, a failure of which would deteriorate the economy.  

Credit rating upgrade depends on SL’s compliance with IMF conditions: Fitch

Sri Lanka’s hopes for an upgrade in its credit profile will depend on how much it will comply with the International Monetary Fund (IMF) conditions, which the country agreed upon when entering the loan packages with the multilateral lender, credit rating agency Fitch Ratings said.

Higher private credit growth upsets Central Bank

The growth in private sector credit has upset the Central Bank as the recent numbers available up to October showed a disturbingly higher credit growth as the state-owned lenders remained stubborn although the private lenders showed some responsiveness to the monetary tightening measures. 

Programme initiated to equip state sector buildings with solar power

The inaugural ceremony of the national project to convert all the state sector buildings into solar power generating centres within two years was officially held with the patronage of Finance Minister Ravi Karunanayake at the Finance Ministry yesterday.

Sri Lankan electronic retailer sells Rs.1bn worth of smartphones in December

Huawei, a leading smartphone brand in Sri Lanka, yesterday announced that Singer Sri Lanka, the exclusive national distributor for Huawei smartphones, has successfully surpassed Rs.1 billion Huawei smartphone sales generated solely in the month of December 2016. 

Shares end flat as policy uncertainty continues to weigh

REUTERS: Sri Lankan shares were little changed yesterday after hitting a nine-month low last week as uncertainty over the government’s monetary and budget policies continued to weigh on the market.

Rupee steady; downward pressure prevails

REUTERS: The Sri Lankan rupee ended steady yesterday, but dealers expect it to fall further on growing demand for dollars from foreign banks that facilitate sales of government securities by foreign investors.

Alleviation Digital grabs FCCISL Gold

Known for their pioneering services in the field of commercial advertising, Alleviation Digital (Pvt) Ltd was honoured with the Gold award for Uva Province and the gold award under National Level Small Category at the Entrepreneur of the Year organized by the Federation of Chambers of Commerce and Industries in Sri Lanka. 

LOLC champions sustainability through renewable energy and reforestation

The LOLC Group has embarked on several renewable energy initiatives within the organization as well as on a national scale, with a mission to commit towards a sustainable future, by meeting the needs of the present without compromising the needs of the future generations to meet their own. 

Jean Ilg visits Baurs

Since 1978 Jean Ilg has been regularly visiting Baurs. As a member of the Baur Foundation, he has shown his dedication to the development of Baurs for many years and frequently visited Sri Lanka.  Though his son has taken over most of his functions now, Jean Ilg still follows with keen interest the development of Baurs. The Board of Directors and members of the staff were present to welcome him.

Ocean Lanka marks 20 years of operations

Ocean Lanka which commenced its operations in 1996, celebrated 20 years of service in the clothing industry on the 27th of December 2016. The celebration was held at the Hilton Colombo, where several employees who completed 20 years of service were also felicitated.

L.G Farm wins FCCISL awards 

L.G Farm (Pvt) Ltd, a broiler production, processing and marketing company based in Minneriya, secured the merit award for the large category at national level at the Entrepreneur of the Year 2016 contest, organized by the Federation of Chambers of Commerce and Industries in Sri Lanka. 

Foreign reserves improve to US $ 6 bn by end 2016

Sri Lanka has been able to end 2016 with gross official reserves just above US $ 6 billion after reserves hit their lowest levels in 5 years in June, the latest Central Bank data showed. 

CB to probe Ravi K’s 5,000 rupee note distribution claim

The Central Bank will soon initiate a full-scale investigation into the recent allegation made by Finance Minister, Ravi Karunanayake, that the Central Bank distributed Rs.13.0 billion worth of 5,000 rupee notes two days prior to the presidential election in 2015.