Shares fall for 8th straight session in thin trade

REUTERS: Sri Lankan shares fell for an eighth straight session yesterday, closing at their lowest in more than eight months, in typical holiday-thinned trade as investors stayed away ahead of the Christmas weekend.

Brac Lanka Finance to raise Rs.1.3bn via rights issue

The LOLC group’s Brac Lanka Finance PLC (NIFL) yesterday announced its plans to raise Rs.1.32 billion through a rights issue of shares

Much to worry despite touted optimism, say economists

?Despite the bullish attitude of the country’s finance minister, Sri Lanka’s import-driven economy is unlikely to experience any respite on its external front for a significant period of time, senior economists warned recently, compounding fears over the trigger of another economic crisis.

Sujan International launches healthy vegetarian food range

Focusing on healthy vegetarian lifestyle, Sujan International (Pvt.) Ltd has introduced a range of highly nutritional beverages and vegi kottu with moringa. 

Maliban becomes only food company to seize World Class Award at APQO Conference 2016

Maliban Biscuits, Sri Lanka’s most renowned and trusted biscuit manufacturer, has become the only food company..

Randeniya Int’l receives Western Province Best Entrepreneur Award

Randeniya Internatinal (Pvt.) Ltd received the award for Best Entrepreneur 2016 in the Western Province recently.

Dialog TV introduces Power Plus package

Dialog Television, the leading satellite entertainment network in the country with over 800,000 customers, launched its newest post-paid monthly rental package Power Plus to the market recently. 

LOLC subsidiary opens first utility-scale solar power project in Sri Lanka

The LOLC group company, Sagasolar Power (Private) Limited (Sagasolar), announced the opening of the first-ever utility-scale solar power plant in Sri Lanka.

Sri Lanka in danger of falling back into Rajapaksa tyranny

Despite the progress made over a few minor matters, since the silent revolution on January 8, 2015, which established the coalition government, no good governance has been established thus far and Sri Lanka is dangerously getting closer to relapsing into a “Rajapaksa dictatorship”, a renowned economist warned this week. 

Finance Ministry releases Rs.7bn for fertilizer subsidy this season

The Finance Ministry has released Rs.5.5 billion to the Agriculture Ministry to be distributed among the farmers to purchase fertilizer for the Maha season.  

National inflation slows to 4.1% in November

Sri Lanka’s national inflation, measured by the National Consumer Price Index (NCPI), slowed to 4.1 percent in November from 5.0 percent in October, on a year-on-year (YoY) basis.

JKH’s processed food subsidiary moves down to secondary board

Keells Food Products PLC (KFP), the processed food manufacturing arm of the country’s largest conglomerate John Keells Holdings PLC (JKH), yesterday got itself transferred to the secondary Diri Savi Board from the Main Board of the Colombo Stock Exchange (CSE).  JKH had divested some of its shares this August to keep KFP listed on the CSE under the minimum public float rules, which were revised last month.

BOC’s Rs.8bn debenture issue snapped up on opening day

State banking giant Bank of Ceylon’s (BOC) listed rupee debenture issue up to Rs.8 billion was snapped up on the opening day (yesterday) with the value of total applications received exceeding over Rs.10 billion. 

Selling SOE shares not privatization: FinMin

The sale of a majority of shares in state-owned enterprises (SOEs) is not privatization, but commercialization, Finance Minister Ravi Karunanayake stressed recently, despite past instances being classified to the contrary.

Tea Broker calls for Ceylon Tea exports into Asian markets

One of Sri Lanka’s eight tea brokers, Ceylon Tea Brokers PLC, recently called on the industry to consider preparation to break into Asia’s high-growth beverage market, as traditional commodity exports are starting to lose steam.

Industrial activity expands in October

The Index of Industrial Production (IIP) which measures the activity in the country’s manufacturing sector, expanded to 104.3 this October from 101.6 in September.

Expert wants domestic apparel market players to export

Apparel manufacturers catering to the domestic market should get ready to become exporters under the government’s new trade policies

Contrade secures ISO 9001 certification

Contrade (Pvt.) Ltd, a leading industrial productions company has been able to snatch the ISO 9001 certification for its quality production and administration assurance.

Lanka Sathosa to sell freshly milled rice

The Ministerial Committee on Economic Management headed by Prime Minister Ranil Wickremesinghe has given the nod this week to import new rice volumes up to 250,000 metric tonnes to meet local market demand. 

Moody’s says govt. revenue targets ambitious, warns of fiscal slippage

Moody’s Investors Service cast its doubts over the achievement of the budgeted revenues by the Sri Lankan government in 2017,

Balasooriya Hospital receives two Silvers at FCCISL Entrepreneur Awards

Balasooriya Hospital Chairman Priyanthalal Balasooriya received the Silver award in the Large category – Service sector (National level) and the Silver award in the Large category – Aervice sector (Provincial level) at the Sri Lankan Entrepreneur of the Year Awards ceremony organised by the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL). 

Kalapuge holds workshop for Wijeya Newspapers staff

Renowned motivational speaker and trainer Dhammika Kalapuge held a workshop recently for Wijeya Newspapers Ltd Circulation and Brand and Promotion Department employees at Hilton Colombo Residencies on the topic of ‘Be the best you are born to be’  – focusing on customer care and  team motivation.

Colombo Christmas Street kicks off tomorrow

The Colombo Christmas Street (CCS) 2016, a trade and fun fair organized by the Ministry of Tourism and Religious Affairs together with the Colombo Municipal Council,

Most Asia markets struggle but Tokyo back in black

AFP - Most Asian markets struggled yesterday with traders spooked by geopolitical concerns following deadly attacks in Europe but Tokyo’s Nikkei returned to winning ways, reversing an earlier sell-off as the yen rebounded.

Sri Lanka extremely hospitable - Tajikistan Trade Minister

“Sri Lanka is an extremely hospitable country. This is reflected through the warm smiles and welcoming nature of the local people, which is often a rare sight elsewhere in the world,” said Tajikistan Minister of Economic Development and Trade, Nenatullo Khikmanllozoda.

Leo Burnett wins Gold at Campaign Asia Agency of the Year Awards

Leo Burnett Sri Lanka, the local office of the global advertising network Leo Burnett Worldwide, repeated its success at Campaign Asia’s Agency of the Year (AOY) awards by securing the Gold for Agency of the Year for the Rest of South Asia.

Rupee ends lower on dollar buying by banks, importers

REUTERS - The Sri Lankan rupee closed weaker yesterday on dollar buying by banks and importers, with dealers saying the rupee was expected to fall further unless the country’s central bank stepped in to raise interest rates.

Lotteries Board relaunches Development Fortune ticket with new range of prizes

The Development Lotteries Board, which has earned prestige for being the leader of introducing the latest trends to the lottery market, took measures to launch a new lottery recently.

SLID holds graduation for third batch

The graduation of the 3rd batch of the Sri Lanka Institute of Directors (SLID) ordinary members took place at World Trade Centre recently.

Thailand will help to strengthen Sri Lankan tax system: Envoy

Thailand Ambassador Nopporn Adchariyavanich assured that his country would support Sri Lanka to strengthen the tax structure.