Cargills Bank June quarter losses narrow to Rs.38 mn as margins improve

Cargills Bank Limited narrowed its losses to Rs.38 million during the quarter ended in June 30, 2016 (2Q16) from Rs.89.5 million loss during the corresponding quarter last year as the margins improved 

Fitch affirms Lion Brewery’s ‘AA-(lka)’ rating; says well-placed to recover from floods

Fitch Ratings has affirmed Lion Brewery (Ceylon) PLC’s (Lion) National Long-Term Rating of ‘AA-(lka)’ with a Stable Outlook and said the firm is well-placed to recover from the recent floods and 

State Bank of India Chairman and top officials in town

The Chairman of State Bank of India (SBI) Arundhati Bhattacharya— incidentally, the first woman 

Rupee edges up on exporter dollar sales, inward remittances

REUTERS: The Sri Lankan rupee ended slightly firmer yesterday ahead of a Central Bank policy meeting later in the day, as exporter dollar sales and inward remittances surpassed importer demand 

Sri Lanka could cut trade costs by 15% through TFA implementation: diplomat

Sri LankaSri Lankan companies could enjoy up to 15 percent savings in trade costs via trade reforms implemented through the World Trade Organization’s (WTO) Trade Facilitation Agreement (TFA), top n companies could enjoy up to 15 percent savings in trade costs via trade reforms 

Ranil De Silva steps down from Serendib Hotels as MD

Top professional Ranil De Silva has tendered resignation from the board of the Serendib Hotels PLC as its Managing Director with effect from August 31, a stock exchange filing by the Company 

Agarwood - A distinctive investment for a sustainable tomorrow

While Sustainable Environment Conservation is on the spotlight in today’s economic platform; sustainable commercial forestry has made a remarkable impact on our local eco 

Tasma Group wins “BIZZ 2016” international award

Tasma Group of Companies , founded by  Deshamanya K A Nimal Subasinghe , commenced its 

CCC to discuss ‘Right to information and biz implications’

The Ceylon Chamber of Commerce will hold a seminar titled “Right to Information and its Implications 

Leema Creations clinches CNCI National Award for sixth year

Leema Creations (Pvt) Ltd, the leading interior solution provider in Sri Lanka had been recognized with a National Award for Large Category Business at CNCI Achiever of the Year 2016.

NCE to hold forum on how to benefit from FTAs EPAs

Free trade agreements and economic partnership agreements are proliferating around the world.  Sri 

Wood International Expo to begin in September

The Sri Lanka Wood International Exhibition 2016 to be held from 9th – 11th  September is a promising opportunity for the growth of wood industry. 

CTC appoints Emma Ridley as Finance Director

Ceylon Tobacco Company (CTC) PLC recently announced the appointment of Emma Ridley as the new Finance Director for the company, effective from 1st September 2016. 

Prof. Balakista Reddy to conduct ‘International Space Law’ workshops

Prof. (Dr.) V. Balakista Reddy, Professor of International Law, Coordinator M. K Nambyar SAARC 

Pizza Hut introduces 3 new Indian flavours

The fascinating combination of various spices, herbs, vegetables and other ingredients used in Indian cooking unveils a taste and fragrance that has already lured and captured many a Sri Lankan taste-

Expert calls Lankan firms to implement ‘sourcing strategies’

An expert has called Sri Lankan firms to have a sound ‘sourcing strategy’ in order to help improve the overall business performance by sourcing the rights products at the right price and at the right time.  

Finagle Lanka launches Wholemeal and Multi Grain bread

Lifestyles in Sri Lanka are evolving and changes are evident in dietary patterns where there is a 

Three Sinha Group receives Silver at CNCI Achiever Awards

Three Sinha Group of Companies, an organization that constantly strives to break new barriers in the 

Sri Lanka to join 13th CAEXPO as special guest country

Consulate General of Sri Lanka in Guangzhou has confirmed that Sri Lanka will join the upcoming China-ASEAN Expo (‎CAEXPO) as a special guest country in a confirmation letter to the Secretariat of CAEXPO earlier. 

Tea stakeholders come together to safeguard industry funds

All stakeholders of the country’s tea industry yesterday expressed their unmitigated and resolute opposition to the intention of the Finance Ministry to appropriate the funds accumulated by the Sri Lanka Tea Board, which had been collected from the Industry for global tea promotion.

Dubai’s SAIF industrial zone holds roadshow to woo Lankan investors

Officials of the Sharjah Airport International Free (SAIF) Zone in Dubai, recently visited Sri Lanka as a part of its international roadshows, in order to woo Sri Lankan investors to the mega industrial hub. “I hope that you expand into the Middle East region through this trade zone,” SAIF Zone & Hamriya Free Zone Director Saud Almazrouei told the roadshow attendees at the Taj Samudra yesterday. The SAIF Zone recently embarked on

LOLC Finance sets benchmark in Sukuk issuances in South Asia

LOLC Finance PLC has successfully issued a Rs. 500 million (US$3.37 million) Sukuk from the domestic market, setting a precedent for corporate Sukuk issuances in South Asia. 

Ceylon Hotels Corp. seeks shareholder nod to write off losses exceeding Rs.1bn

Ceylon Hotels Corporation PLC (CHC), an operator of rest houses and resorts is seeking the shareholder nod to write off its accumulated losses which are to the tune of over a billion rupees against the shareholders’ fund in a major capital restructure, the company said in a stock exchange filing. 

VAT could have delivered double whammy: top retailer

Implementation of the currently overturned Value Added Tax (VAT) bill would have had a double impact on retailers with dampened demand as well as the creation of a grey market, a leading diversified group in the country said.

Mabroc Bubble Tea flagship store launched with unique range of bubble teas

The concept of Bubble Tea which originated in Taiwan has found its way across the world and has been brought to life in Colombo with Mabroc Teas recently unveiling their flagship bubble tea store at the basement food court of Colombo’s premier shopping destination, Liberty Plaza. 

Can China help shape global governance at G20?

At the end of the twentieth century, China was an observer of global governance, on the sidelines of the G7 and not yet a member of the World Trade Organisation (WTO). Encouraged by Western countries to embrace global governance, China has become much more proactive in pushing global cooperation since the G20 was founded. As president of the G20 for 2016, China has an unprecedented opportunity to provide impetus to global development.

Arpico elevates unique offering to cyberspace with ‘e Supercentre’

Shopping at Arpico has moved into the realm of cyberspace with the launch of the retail giant’s ‘e Supercentre’ – a sophisticated online shopping portal accessible 24 hours of the day from anywhere in the world.

St. Anthony’s Group-Jinasena ink deal on market expansion

Two of the country’s largest family owned business groups Jinasena Ltd and St. Anthony’s Industries Group (Pvt) Ltd recently signed a Memorandum of Understanding (MOU) that would enable each other to utilize key competencies acquired over time, in their individual industrial value chains for mutual benefit.

Sri Lanka’s leading fresh milk producer ‘Daily’ marks 20 years

‘Daily’ one of the pioneers in Ultra Heat Treatment (UHT) fresh milk production celebrated its  20th anniversary recently at a grand function held recently at Heritance Negombo.

Browns Thermal Engineering unveils first service centre in Colombo

Browns Thermal Engineering (Pvt) Ltd (BTEL), recently opened their new premises at a strategic location on Darley Road.