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.

Rupee closes little changed amid capital outflow worries

REUTERS: The Sri Lankan rupee ended little changed on Thursday amid persistent worries about 

Govt. already mulling plan B for SriLankan?

??By Shabiya Ali Ahlam Debt-laden national carrier, SriLankan Airlines, would have to explore other 

Govt. slaps 15% VAT on locally produced milk powder

Locally produced milk powder which was hitherto exempted from the Valued Added Tax (VAT) has now been made liable with effect from January 1, 2017, an expert in tax policy and planning said this 

Harry J tells PM to seek wise counsel of corporate leaders prior to foreign tours

??By Supun Dias Business tycoon Harry Jayawardena, who is known as an outspoken personality, this 

Harry J tells PM to seek wise counsel of corporate leaders prior to foreign tours

??By Supun Dias Business tycoon Harry Jayawardena, who is known as an outspoken personality, this 

Softlogic group feels tougher market conditions as 2Q profit narrows

Weakening consumer demand and the chal lenging economic conditions such as rising interest rates 

Government mulls blocking new hotels in tourism zones as overcapacity nears

??By Chandeepa Wettasinghe The Sri Lankan government is currently mulling the decision to restrict 

Sri Lanka has potential but not policy: Chinese envoy

Asserting that China’s policies towards Sri Lanka will remain unchanged, Chinese Ambassador to Sri Lanka, Yi Xianliang, said that the question now remains whether the Sri Lankan government could expedite the implementation of relevant policies with regard to the Chinese investments in  Sri Lanka.

Colombo hosts Intex South Asia 2nd edition

Intex South Asia 2016, the only international sourcing fair in South Asia that showcases the best in yarns, fabrics (apparel and denim) and clothing accessories, presents a grand display at the Exhibition & Convention Centre (SLECC) in Colombo from until November 18.