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.

Talks underway for SL’s first Four Seasons hotel

A meeting was held last Friday at the Ministry of Special Assignments under the chairmanship of Minister Dr. Sarath Amunugama to discuss a project proposal for the establishment of a six-star hotel of the reputed international hotel chain, Four Seasons. 

Laugfs group maritime subsidiary first to register ship at H’tota port

Diversified conglomerate Laugfs Holdings is set to mark another monumental milestone by being the first to register a vessel at the Hambantota Port, a company statement said.  The announcement was made together with the purchase of another LPG vessel under Laugfs Maritime, in its plans to rapidly expand its vessel fleet. 

BOI chief tells Lankan entrepreneurs to be sharp to find foreign partners

Sri Lanka’s Board of Investment (BOI) Chairman Upul Jayasuriya has requested Sri Lankan entrepreneurs to be sharp and find the right foreign partners to go to the next level, as there are numerous possibilities in the offing.

FinMin to bring online booking sites under common tech platform

The Finance Ministry is currently developing the platform that online booking websites would have to become subservient to, the country’s tourism officials said last week, although refusing to provide information on how far discussions with the market players have advanced.

Sri Lanka launches China-led investment zone amid protests

REUTERS: Sri Lankan police used tear gas and water cannons on Saturday to disperse hundreds of stone-throwing demonstrators protesting against a planned investment zone supported by China. Hospital authorities said at least 21 people were injured in the protests. According to police, 52 demonstrators were arrested.

Writers, poets and fashion designers to promote talent in Galle mid January

The young talent of Sri Lanka have for the first time a platform to promote their work to an international audience and its shaping up to the coolest event in Sri Lanka.

Deen Brothers Imports clinches FCCISL Silver 

Deen Brothers Imports (Pvt) Ltd has been recognized with Silver Award for Southern Province and National Level Silver Award for their excellent service with the best machinery and electric appliances at fair prices for the Sri Lankan industries at the Entrepreneur of the Year event organized by Federation of Chambers of Commerce and Industries in Sri Lanka. 

National Chamber organizes one-day workshop on export procedures

 One day  workshop on export procedures and documentation  will be conducted on January  18th  from 9.00  a.m to 4.30 p.m  at the chamber auditorium  in Colombo – 10.

Overseas Realty December net slips slightly as Havelock City phase 3 under construction

Property developer Overseas Realty (Ceylon) PLC (OSEA) saw its group net profits for the quarter ended December 30, 2016 (4Q16) edging down by 6.2 percent to Rs.754.7 million or 85 cents a share from a year ago, the financial accounts filed with the Colombo Stock Exchange showed. 

Carolina estate achieves all-time record price

At this week’s ex estate tea auction held on 04th January2017, an invoice of PF1 from Carolina Estate, Watawala, secured an all-time Colombo Tea Auction record price of Rs.610/ per kg-.  This tea was purchased by M/S. Stassen International Ltd who is a leading buyer of both liquoring High Growns as well as Low Grown teas and was sold through the catalogue of M/S. Lanka Commodity Brokers Ltd.

National policy framework for SME development gets Cabinet nod: Rishad

A programme aimed at stimulating growth of the SME sector that will enable entrepreneurs to compete locally as well as internationally through government engagement and support will get underway soon, Industry and Commerce Minister Rishad Bathiudeen said.

Unilever infuses spice into Galle Literary Festival

Literature is replete with descriptions of food or paeans about the importance of food. 

CH17 inks deal with MyDeal.lk to widen product offerings

In a bid to expand the retail merchant network and provide a wider choice of products with a multitude of great deals to its membership, CH17 has entered into a partnership with MyDeal.lk. 

Pelwatte Dairy uplifts Sri Lanka’s dairy industry

Pelwatte Dairy Industries Ltd, a leading manufacturer of locally produced dairy products has since its inception supported the local dairy industry and is on a quest to making Sri Lanka self-sufficient in milk.

Umaya Enterprises wins excellence award

Umaya Enterprises was honoured with the excellence award as the most outstanding company for its contribution towards Sri Lanka’s transport (rent a car) sector at the FLAME Awards – 2016 held in Colombo recently. 

Dismantling tallest Christmas tree

The Christmas tree at Galle Face, Colombo, which was hailed as the world’s tallest, is currently being dismantled, although Guinness World Records had told Daily Mirror that Sri Lanka has yet to apply for the achievement. The tree was constructed at a cost of Rs. 12 million, which was marred in controversy as the Archbishop of Colombo had called the exercise a waste of money, which had divided public opinion. Pic by Damith Wickramasinghe

Floods spark chaos as Thailand’s peak tourist season arrives

AFP - Thai authorities yesterday warned of flash floods across the south as torrential rains lashed the region leaving at least six people dead, delaying flights and disrupting holidays during peak tourist season.

iflix premieres latest science fiction drama Aftermath

iflix, the world’s leading Internet TV service for Southeast Asia, offering subscribers unlimited access to thousands of TV shows, movies and more, is thrilled to premiere its latest science fiction drama, Aftermath, available only on iflix. 

MH370 search to end in two weeks: official

AFP - The hunt for missing flight MH370 will end in two weeks, Malaysia’s transport minister said yesterday, as relatives of passengers demanded authorities push on with the search.