Condominium developers welcome budget

The Condominium Developers’ Association of Sri Lanka, an affiliated trade body of the Ceylon Chamber of Commerce, which represents the condominium developers in the country, hailed the budget proposals presented to parliament by Finance Minister Ravi Karunanayake.

Port City officials inspect granite quarry sites

The Megapolis, Port City and project contractor China Harbour Engineering Company (CHEC) have begun inspections of the quarries that will be supplying quarry material for the Port City project.  According to the Supplementary Environmental Impact Assessment (SEIA), only licensed quarries can be used for the supply and the inspection tours are to ensure that all the conditions stipulated in the environment approvals are properly met.

Government turning a blind eye to common man?

By G.K.S. Ekanayake The transportation sector has been under the watchful eyes of many in the recent past because of the undue pressure imposed on 1/3 of the country’s population, who make a living through anything and everything related to the three-wheeler industry.

ADB support for Sri Lanka scores on infrastructure, not fiscal reforms

The Asian Development Bank (ADB) has released an independent evaluation report that assesses its US $ 5.5 billion programme for Sri Lanka in the 10 years to the end of 2015. The programme made a substantial contribution to expanding infrastructure services in the country especially in lagging regions and former conflict-affected areas. 

Pan Asia Bank relocates Kalutara branch

Pan Asia Bank opened its Kalutara branch at its new location in Galle Road, Kalutara recently.   The Director/Chief Executive Officer of Pan Asia Bank Dimantha Seneviratne was the Chief Guest at the opening. The senior management of the bank, members of the business community and customers in the area were among the other distinguished guests.  

Dr. Zurfick to lead Blue Diamond team to Dubai Gem & Jewellery Show

One of the country’s leading gem and jewellery businessmen Dr. M.G.M.S. Zurfick, who is a Blue Diamond PLC Director, will lead a Blue Diamond team to Dubai International Gem & Jewellery Show 2016 to be held from December 7-10, at the Dubai World Trade Centre. 

CMA Sri Lanka launches digital learning

CMA Sri Lanka Digital Learning, consisting of e-learning and video lectures, was launched by Finance Minister Ravi Karunanayake at the CMA Budget Highlights programme in keeping with the 2017 budget proposals to create a digital economy.

What’s happening to BIA duty free tenders?

Questions are now being raised as to what’s happening to the duty free tenders for Bandaranaike International Airport (BIA) floated by Airport and Aviation Services (Sri Lanka) Limited in the month of May 2016. 

Central Bank says IMF released second tranche of 3-year EEF

The first review of the three-year Extended Fund Facility (EFF) obtained by Sri Lanka has been successfully completed by the International Monetary Fund (IMF) and the second tranche to the value of SDR 119.894 million (approximately US $ 162.6 million) was disbursed on November  18, 2016.

IMF releases US$ 163mn following VAT and other new taxes in budget

Completing the first programme review, the International Monetary Fund’s (IMF) Executive Board last 

John Keells completes funding for Cinnamon Life project

Sri Lanka’s premier blue chip, John Keells Holdings PLC (JKH), last week said, raising of funds for 

Power regulator expresses serious concerns over delay in power plant constructions

In a time of low private sector investments, electricity sector regulator Public Utilities Commission of 

Cargills acquires seed manufacturing firm for Rs.150mn

Cargills (Ceylon) PLC, one of Sri Lanka’s leading food & beverage and retail operators, has acquired 

SASEC Operational Plan launched in Sri Lanka

The Asian Development Bank (ADB) has launched the new South Asia Subregional Economic 

Prima Management Services donates high-tech Command Centre to Police Department

Prima Management Services, a member of Prima Group of Companies, Singapore, donated a state-

FinMin pledges to implement all budget proposals on time

Finance Minister Ravi Karunanayake pledged that all the proposals incorporated in the budget 2017 

CIMA to hold Launch Pad 2016 grand finale on Nov. 26

CIMA Launch Pad, an initiative of the CIMA Students’ Society, has grown to be a pivotal platform for 

SLID ‘Brand in the boardroom’ event on Nov. 22

Continuing its Power evenings, the Sri Lanka Institute of Directors (SLID) will present ‘The brand in 

SAARC Chamber of Commerce and Industry and SAARC Development Fund sign MoU

SAARC Chamber of Commerce and Industry (SAARC CCI) President Suraj Vaidya signed a 

China Products Exhibition 2016 begins on Nov. 22

The stage is set for a spectacular display of China Products (Colombo Sri Lanka) Exhibition 2016, which will bring more than 120 quality exhibitors from China to Sri Lanka.

Shifting to e-procurement could yield efficiency gains for govt: think tank

Implementing an easily accessible electronic procurement (e-procurement) platform for government procurements would save the government both time and money, and allow a level playing field when bidding for procurement opportunities, Verite Research said.

Turkey keen on Sri Lanka’s Megapolis

Turkey, which has one of the largest construction industries in the world, is interested in taking part in the Western Province Megapolis project, Turkish Prime Minister Binali Y?ld?r?m said.

PUCSL commits Rs. 250 mn to improve power sector next year

The electricity sector regulator, the Public Utilities Commission of Sri Lanka (PUCSL), is planning to spend Rs. 250 million on its Activity Plan 2017 to uplift the electricity sector.

NTB credit cards offer up to 40% savings on designated Aitken Spence hotels

Nations Trust Bank (NTB) recently announced an exclusive savings of up to 40 percent for its American Express and MasterCard credit cardholders, for their stay at selected Aitken Spence hotels and resorts. 

Cenmetrix receives Best Project Award in S. Korea

Cenmetrix walked away with the Best Project Award for the year 2016 at the Suprema Partner Conference held at Sheraton Grand, Songdo Smart City, South Korea.

ComBank’s ‘Arunalu’ supports country’s brightest young students

Twelve of Sri Lanka’s brightest young students have been rewarded by Commercial Bank of Ceylon with nearly Rs.750,000 in scholarships and cash prizes as Sri Lanka’s largest private bank began the disbursement of ‘Arunalu’ rewards to top achievers at the 2016 Year 5 scholarship examination. Total disbursements are expected to top Rs.5 million under this year’s rewards programme conducted by ‘Arunalu’ &ndas

Commercial High Court dismisses APL share sale reversal case

A court case filed by a shareholder of the Mackwoods Group to reverse the sale of Agalawatte Plantations PLC (APL) shares by Group Chairman Chris Nonis was dismissed yesterday in the Commercial High Court of Colombo.

Rupee edges down on capital outflow fears

REUTERS: The Sri Lankan rupee fell yesterday on persistent worries of capital outflows as incoming President Donald Trump’s policies are seen aiding higher U.S. interest rates and a strong dollar. Rupee forwards were active, with the spot-next trading at 148.70/95 per dollar, compared with Thursday’s close of 148.65/75. “The rupee is pressured although there is on and off dollar selling. Some foreign banks are buying dollars,&rd

Dollar surges on rate talk, emerging markets struggle

AFP - The dollar extended gains across the board in Asian trade yesterday as investors honed in on bullish comments from Federal Reserve boss Janet Yellen on interest rates.

Top strategist upbeat about Sri Lanka’s future prospects

A globally-acclaimed futurist and a growth strategist who visited Sri Lanka recently said that he is very upbeat about the country’s future and its culture of innovation.