Abbotsleigh tea gets all-time record price

At this week’s tea auction, two invoices of the PD grade from Abbotsleigh Estate, selling under the mark Florence, secured an all-time Colombo tea auction record price of Rs.660 per kilogramme.  One invoice was purchased by Watawala Tea Company, whilst the second invoice was purchased by Liptons. Both teas were sold through the catalogue of Lanka Commodity Brokers Ltd.

Environmental Monitoring team visits Port City site

The members of the Environmental Monitoring Committee (EMC) appointed by the Coast Conservation Department (CCD) to oversee the environmental compliance of the Colombo Port City Development Project made an inspection tour at the project site on November 1.

Huawei’s ‘Seeds for the future’ selects 10 Sri Lankan undergrads for China study tour

Chinese tech giant, Huawei has selected 10 undergraduates to visit their campus in Shenzhen, China to attend a workshop in Information and Communications Technology (ICT), as part of the ‘Seeds for the future’ programme in collaboration with the Prime Minister’s Office and Ministry of Communications and Digital Infrastructure. 

EASL cautions over threats to int’l trade

Exporters Association of Sri Lanka (EASL) yesterday cautioned of elements who are trying to influence the authorities to reintroduce Terminal Handling Charges (TCH) and other surcharges and stressed that such a move could make import /export trade very uncompetitive. 

Ravi to deliver keynote at CIMA Nov. 15 budget forum

Following the presentation of the Budget 2017, Chartered Institute of Management Accountants (CIMA) will be conducting a post-budget seminar to analyse the budget proposals and its impact from an economic, taxation and business perspective, on November 15, at the BMICH, from 6:00 p.m. to 8:00 p.m.  

Top Danish entities in SL exploring business opportunities

On the lookout for opportunities to support the island nation’s growth agenda, a high-profile Danish delegation in Colombo yesterday received a comprehensive briefing on operating and trading in Sri Lanka, an effort by the European Chamber of Commerce of Sri Lanka (ECCSL) to increase ties between the two nations.

Sri Lanka could enjoy GSP Plus facility till 2023: EU

Sri Lanka could enjoy the preferential tariff regime of General System of Preferences Plus (GSP 

Sierra Cables to set up US $ 4mn cable manufacturing plant in Fiji

“Sierra Cables PLC wishes to announce that it has on 13th October 2016 entered into a joint venture 

Odel September quarter net profit up 32%

Branded clothing and accessories seller Odel posted a Rs.74.20 million net profit for the second 

Aitken Spence pulls out from Bangladeshi power operations

The Aitken Spence group has completely exited its thermal power generation interests in Bangladesh 

CB still sees room for growth as money abundant

 Despite several rounds of monetary tightening measures taken so far this year, the country’s 

ACCA signs MoU with Human Capital Partner

Recognizing the value of promoting mutual co-operation for the advancement of the accountancy 

JLanka recognized for intensive innovation and R&D with Flame Award

JLanka Technologies, the premier solar solution provider in Sri Lanka was awarded the Flame 

Foreconns Canneries awarded NCE Silver Award

Foreconns Canneries, a leading exporter in food items with authentic Sri Lankan delicacies, was 

Agrotac launches very own ‘Olive’ brand water pumps

The best in class in water-pump offerings – ‘Olive’, has made a sweeping entrance into the Sri Lankan market since March 2016 – built upon technical expertise and technological superiority 

Imperial Spices receives NCE Gold Award

Imperial Spices, a leading spices exporting company, was presented much coveted Gold Award in 

Neil Samarasinghe appointed CEO of Dreamron Group

Neil Samarasinghe has been appointed as CEO of Dreamron Group.

Pakistan-SL Business Councils’ joint steering committee to resolve trade issues

The second Joint Business Council Forum of Sri Lanka and Pakistan was held recently in Colombo. 

Malik holds bilateral talks with Japanese Ministers

Development Strategies and International Trade Minister Malik Samarawickrama is on an official visit to 

Eminent chartered accountants inducted to CA Sri Lanka Hall of Fame

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) recently paid tribute to two 

Leicht Kitchens Germany appoints Centrepoint Homes sole agent in Sri Lanka

Germany’s most innovative premium kitchen brand is finally in Sri Lanka. Leicht Kitchens Germany 

HJS Condiments clinches Gold at NCE Export Awards

HJS Condiments Ltd. the agri export division of Hayleys Agriculture Holdings Limited, won the Gold 

Sri Lanka keeps key policy rates steady

Sri Lanka yesterday left the key policy rates unchanged as private sector credit saw some deceleration and inflation remained subdued. 

Moody’s says VAT hike credit positive

The increase in the value-added tax (VAT) rate from 11 percent to 15 percent will be credit positive for Sri Lanka as it will support the government’s fiscal consolidation agenda and will also put the derailed International Monetary Fund (IMF) programme back on track, according to a global credit rating agency.  

Rupee weaker; remittances prevent steeper fall

REUTERS:  The Sri Lankan rupee ended weaker yesterday due to mild importer dollar demand, but month-end inward remittances capped the fall, dealers said.

Pharma chamber denies allegations of members hoarding drugs

The country’s pharmaceutical chamber yesterday categorically denied the allegations that its members were hoarding pharmaceuticals to create an artificial shortage in the market in light of the recent government gazette significantly slashing the prices of 48 vital drugs.

NTB to raise up to Rs.5bn through listed debentures

Nations Trust Bank PLC (NTB) yesterday disclosed its plans to raise up to Rs.5 billion through a listed debenture issue.

Shares fall to 3-mth low ahead of monetary policy

REUTERS: Sri Lankan shares ended yesterday weaker at a three-month low in thin trade ahead of a monetary policy announcement by the Central Bank, as the prime minister’s plan for improving the investment climate failed to cheer the market.

Senkadagala Finance gets CSE nod to list up to Rs.3bn debentures

Senkadagala Finance PLC is gearing to raise Rs.3 billion through a listed debenture issue. The finance company has received the preliminary approval to list the debt instruments on the Colombo Stock Exchange (CSE). 

Colombo to open Intex South Asia int’l sourcing fair on Nov. 16

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, will welcome more than 150 exhibitors from Italy, Japan, South Africa, Korea, China, Singapore, Malaysia, Indonesia, Taiwan, Pakistan, Bangladesh and India to the Sri Lanka Exhibition & Convention Centre (SLECC), Colombo from November 16 to 18, 2016.