SriLankan unveils Speculo 2017 painting, visual art competition

SriLankan Airlines, the national carrier, inviting the country’s talented youth to artistically elaborate their perspective on the airline, unveils its ultimate creativity inspiring endeavour, Speculo 2017. This painting and visual art competition brings together artists across the country, ranging from school children, university students and amateur and professional artists.

WBTMC to conduct Speechcraft Programme #7

The Word Blasters Toastmasters Club (WBTMC) presents a Toastmasters experience of a lifetime with the seventh Speechcraft Programme conducted by the club, which would take place at the Royal College Union Skills Centre (RCUSC) on Saturday, January 28, 2017.

Suren Cooke Agencies introduces Sure Green Eradicator to fight bed bugs

Suren Cooke Agencies, a pioneer in the pest management industry and renowned for utilizing the latest and most innovative pest control solutions, has introduced the Sure Green Eradicator, based on steam superheated at 180C to eliminate bed bugs, instantly.  

Get house in order before worrying about FTAs, says top economist

Sri Lanka should first worry about the barriers to trade inside the country before entering into far reaching trade pacts with other countries as bureaucracy and administrative and information inefficiencies among other things have put a cap on the progress of the country’s exports, opines a top economist. 

Shortlisted bidder for SriLankan charges bids being rigged

PeaceAir Pvt Ltd, one of the three shortlisted candidates of the bids for the management of SriLankan Airlines (SriLankan) yesterday held a press conference to express its frustration over the bid evaluation process, which they charged was not transparent.

LB Finance 3Q net profit crosses Rs.1bn

LB Finance PLC (LBF), a Dhammika Perera-controlled licensed finance company, recorded higher profits exceeding Rs.1 billion for the quarter ended December 31, 2016 (3Q17), supported by higher loans and leases extended during the period, which in turn improved the company’s margins.

AIA Insurance announces Rs.48 per share interim dividend

AIA Insurance Lanka PLC yesterday announced an interim dividend of Rs.48 per share payable by February 08, 2017 for the financial year 2016.

Grain Elevators to acquire poultry processing plant from related party for Rs.272mn

Sri Lanka’s leading poultry manufacturer, Ceylon Grain Elevators PLC (GRAN), has entered into an agreement to acquire land and a poultry processing plant from related party Ceylon Agro-Industries Limited for Rs. 272 million.

Rupee falls on importer dollar demand

REUTERS: The Sri Lankan rupee traded weaker yesterday due to dollar demand from importers while moral suasion by the Central Bank prevented a further fall in the currency, dealers said.

Exporters’ chamber chief pleads with politicos to do away with ‘yes & no’ policies

Sarada De Silva, the outgoing President of the National Chamber of Exporters (NCE), pleaded with the country’s  political masters to do away with the ugly habit of ad hoc policy changes, which he termed as the “yes and no” style of policies, which have hurt the progress of the country’s economy and the export trade in particular.  

SEC clamps down on Swarnamahal Financial

In what appears to be the biggest clamping down on a listed entity in recent times, the Securities and Exchange Commission (SEC) yesterday imposed several restrictions on Swarnamahal Financial Services PLC (SFS) as the entity is said to have violated several mandatory corporate governance requirements. 

Govt. fiddles with leasing ratios to put off three-wheeler, small car purchases

The loan-to-value ratios (LTV) of vehicle financing stipulated in the 2017 budget will go ahead as planned after the Central Bank advised the banks and financial companies to follow the Finance Ministry regulations.

Japan’s Takima Tech launches solar energy technology in Sri Lanka

Takima Tech, the Japanese innovation solar energy technology was officially launched in Sri Lanka recently, during which they also announced the opening of their showroom in Battaramulla next month.

EMP secures export deal with Maldives’ Fenaka Corp

Electro Metal Pressings (Pvt) Ltd recently secured an export agreement with Fenaka Corporation, the government-owned utility service provider of Maldives. 

Bureaucracy seen among key reasons for poor export performance

Sri Lanka’s complacent bureaucracy has caused exporters to give up or move their businesses to other countries, which has mainly accounted for the country’s abysmal export performance, the Colombo-based think tank Verité Research said, yesterday.

Sri Lanka borrows US $ 125mn from WB to modernize agriculture

Sri Lanka has borrowed US $ 125 million from the World Bank (WB) to modernize its agriculture sector, as the country aims to make the sector more efficient and attractive as a modern business,

SriLankan Cargo sets new record for cargo handling

SriLankan Cargo, the freight handling arm of SriLankan Airlines, set a new record for the amount of cargo handled at the Cargo Centre of Colombo’s Bandaranaike International Airport (BIA) with a massive total of 239,636 tonnes in 2016, a remarkable growth of 12.88 percent over the 212,277 tonnes in the previous year.

Power regulator allows instalment payments for new electricity connections

The Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator, has introduced a guideline

EDEX Expo 2017 to kick off tomorrow

 Sri Lanka’s largest education exhibition and job fair – EDEX Expo – will be held from January 20 to 22, 2017, at the BMICH Colombo and on January 27 and 28, 2017 at Kandy City Centre  (KCC), Kandy. 

StanChart includes SL in Jan. 24 Global Research Briefing

Standard Chartered’s Global Research Team has included Sri Lanka as part of its Global Research Briefing circuit, and will conduct a closed-door exclusive session entitled ‘Welcome to the Jungle’ for the bank’s clients on Tuesday, January 24, 2017. 

Hendricks Tea outlet opening brings quality aromas to Kiribathgoda

Amid a splash of colours and quality aromas, Hendricks Tea, one of Sri Lanka’s leading brands that produces finest and freshest Ceylon Tea, launched its newest outlet in Kiribathgoda, in a bid to popularize itsfinest teas at reasonable prices. The new outlet in is located in Kandy Road, Kiribathgoda.  

UTE uses Six Sigma to work with corporate clients

Many companies around the world adopt the Six Sigma Methodology in an effort to improve any area. 

Renuka Foods expands range with wafer sticks launch

POP has been a household name in Sri Lanka for over a decade with a range of mouth-watering snacks that has excited the taste buds of Sri Lankans across all corners. 

Vision Care expands with five new branch openings

With a core focus on expanding Vision Care’s range of optical services to a wider majority of areas covering all major districts in the country, the eye care solutions provider has embarked on yet another feat of branch expansion with their newest branches opened in Gampaha, Kuliyapitiya, 

Sri Lanka’s overall PMI expands during December festive season

Expansions in Sri Lanka’s Purchasing Managers’ Index (PMI) this December showed that both manufacturing and services sectors have performed well during the festive season, according to the Central Bank. 

Bairaha to invest additional Rs.239mn in feed manufacturing and storage facility project

Bairaha Farms PLC (BFP) yesterday announced additional investments amounting to Rs.239 million to the ongoing construction of its animal feed manufacturing and storage facility.

Tobacco giant BAT buys out US firm Reynolds in mega-deal

AFP: British American Tobacco agreed yesterday to pay almost US $50 billion for control of US peer Reynolds American in a move which targets the lucrative United States market and the fast-growing e-cigarette sector.

Tourist arrivals to Maldives up 15% in November recording highest YoY growth

Tourist arrivals to Maldives rose by 15.9 percent in November, recording its highest year-on-year (YoY) growth in 2016 to 104, 572 as the arrivals from all major regions picked up from a year ago but the visitors from China, its largest sourcing market  continued to falter, the data released by the Maldivian Department of Immigration and Emigration showed. 

Rupee marginally higher on banks’ dollar sales

REUTERS: The Sri Lankan rupee traded marginally higher yesterday in light volume as foreign banks sold dollars, but the market expects the currency to weaken after the Central Bank allowed flexibility in the exchange rate, dealers said.

Asia drives rise in 2016 world tourism numbers: UN

AFP: The number of international tourists rose by four percent worldwide to 1.2 billion in 2016 as Asians travelled more, but security fears hit visitor arrivals in Europe, the World Tourism Organization (WTO) said yesterday.