Asia gold-price slump fails to revive demand in India; China premiums shrink

REUTERS: Gold demand in India remained subdued this week despite a sharp fall in prices to over 10-1/2 month lows as a severe cash crunch and holidays kept buyers away from the market, while premiums in China fell from near 3-year highs touched in the prior week.

Wealth inequality rises in euro zone - ECB survey

REUTERS: The concentration of wealth among euro zone’s richest households has increased since the bloc’s debt crisis, even as wealth levels fell across the board due to lower property prices, a survey released by the European Central Bank showed yesterday. The euro zone’s top 5 percent of households owned 37.8 percent of the net wealth in 2014, up from 37.2 percent in 2010 while the bottom 5 percent owned only debt, the ECB said

Asian stocks fall after Wall Street rally stalls

AFP - Hong Kong and Shanghai led an Asian sell-off yesterday, as markets followed Wall Street lower and oil prices weakened on the last trading day before Christmas.

HNB holds annual Christmas carols

Hatton National Bank (HNB) staff held their annual Christmas carols at their head office auditorium recently. 

Seylan Bank celebrates ‘Christmas in Harmony’ with carols for 26th consecutive year

Seylan Bank recently held its annual Christmas carols under the theme ‘Celebrating Christmas in Harmony’ to usher in the festive season. 

Unilever-Cargills Food City Shopping Star - Season 4 grand finale on Dec. 27

The Season 4 of the Shopping Star annual shopping promotion, jointly organised by Unilever Sri Lanka and Cargills Food City draws to a successful closure recording a surplus of interest from customers. 

Rupee steady in thin trading ahead of holiday

REUTERS: The Sri Lankan rupee was steady in lacklustre trading yesterday ahead of a long weekend, amid little importer demand for the dollar,  dealers said.

Coca-Cola and magical story of Santa Claus

Over the years Coca-Cola with its well-loved Christmas adverts and campaigns, as well as its ongoing promise of refreshment, has become an integral part of the holiday season. The festive season however,

PABC organises evening of Christmas carols

Pan Asia Bank recently organised an evening of Christmas carols to celebrate the spirit of the season. At this event, which was held at Pan Asia Bank’s head office, talented choristers of Pan Asia Bank staff entertained the audience with a selection of seasonal melodies in the presence of the management, staff and their families.

Mobitel Cash Bonanza Montero Extravaganza awards 11th lucky winner

Cash Bonanza Montero Extravaganza 2016, introduced by the national mobile service provider SLT Mobitel, saw A.L. Sathkumara from Weerapokuna walk away with the Montero for November 2016, as the 11th lucky winner. 

Abans rewards annual Christmas carol competition winners

Abans recently held its Christmas carol competition at Abans Elite Welisara. 

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.