Flood-affected BOI employees receive donations

Board of Investment (BOI) Chairman Upul Jayasuriya formally handed over on behalf of the BOI cash 

Legend of Leica: A camera that invented photography as we know it

Unless you’re a professional photographer or collector of rare and valuable cameras, the brand Leica 

Strathspey Workers Housing Co-operative Society holds AGM

The Annual General Meeting (AGM) of the Estate Workers Housing Co-operative Society of Strathspey Estate, Upcot, which is managed by Maskeliya Plantations PLC and owned by Richard Pieris Group of 

Shares slip from 10-week high on profit-taking

REUTERS: Sri Lankan shares yesterday slipped from its more-than-10-week high, hit in the previous 

Higher costs drag down Nestlé Lanka June quarter profits

Nestlé Lanka PLC saw its net profit for the quarter ended June 30 (2Q16) slipping 8.4 percent year-

Hemas June net pushed up 68% by key business segments 

The diversified conglomerate, Hemas Holdings PLC increased its net profit for the quarter ended June 30, 2016 (1Q17) by as much as 68 percent to Rs.696.4 million or Rs.1.22 a share from a year ago, 

SL gets US $ 128mn ADB funds for safe water in Colombo and suburbs

The Asian Development Bank (ADB) is giving Sri Lanka another loan of US $128 million to fund safe water and wastewater management in Colombo and suburbs.

Rupee ends up on bank dollar sales, cenbank spot rate

REUTERS: The Sri Lankan rupee ended firmer yesterday as exporter dollar sales by a local bank and 

MUSSD to set up verification centre of taxi meters

Sri Lanka’s growing public taxi system will soon find its fare rates closely monitored with the 

Textured Jersey amongst Forbes ‘Asia’s 200 Best Under a Billion’

South Asia’s largest textile manufacturer Textured Jersey (TJ) have been placed on the Forbes “Asia’s 200 Best Under a Billion” list of 2016.  

It’s family funtime again at Abans!

Abans presents, “Family Funtime,” a morning of fun and excitement for the whole family at our Elite Showroom Kollupitiya which is scheduled for every Saturday this month from 10:00 am onwards.  

DFCC Bank forges strategic partnership with Export Development Board

DFCC Bank PLC recently partnered with the Sri Lanka Export Development Board as the exclusive banking partner of the upcoming World Export Development Forum, which is set to take place in 

Economist stresses importance of int’l trade and innovation to drive economy

The Sri Lanka – Indonesia Business Council (SLIBC) which functions under the aegis of the Ceylon 

SriLankan enters into “wet lease” agreement with PIA

SriLankan Airlines has entered into a “wet lease” agreement with Pakistan International Airlines (PIA), owned by the government of Pakistan, whereby an Airbus A330-300 aircraft will be leased by 

Silvermill Group wins big at Presidential Exports Awards

Silvermill Group of Companies won a total of 5 presidential export awards at a gala event held on August 9th. 

Golden Falcon Group appoints Jabeer Ali to oversee Cooper Tires

Golden Falcon Group   announced the appointment of  Jabeer Ali  as a Country Manager: (Business Development) Sri Lanka & Maldives. 

PM to inaugurate Sri Lanka Human Capital Summit today

The Sri Lanka Human Capital Summit, a public-private initiative between the state National Human Resource Development Council of Sri Lanka (NHRDC) and Association of HR Practitioners (AHRP), will be inaugurated today by Prime Minister Ranil Wickremesinghe. 

Better margins, moderate loan growth propel HNB 2Q net up 41%

Sri Lanka’s second largest private lender by assets, the Hatton National Bank PLC (HNB) group, posted a net profit of Rs.3.36 billion or Rs.8.56 a share, recording an increase of 41 percent from a year ago, supported by a moderate growth in loans and better margins, the interim results showed.  However, the quarterly results were somewhat dented by the trading loss of Rs.2.6 billion incurred from the bank’s trading book, which ma

Stepping out of comfort zone vital for tea market expansion, says tea broker

Averting a storm in Sri Lanka’s tea cuppa would require the industry to step out of its comfort zone and take proactive decisions in market expansion and such moves are essential to be made in the short term if Ceylon tea is to retain its stance in the global stage, according to a listed tea broker. With the local tea industry yet to respond to the call for the widening of its market horizon, Ceylon Tea Brokers PLC asserted that in the emer

Sri Lanka weighs hike in tobacco tax to help boost revenues

REUTERS: Sri Lanka plans to hike a tax on tobacco as it seeks alternative sources of income after two Supreme Court rulings delayed a plan for tax hikes to raise Rs.100 billion in revenue this year, the cabinet spokesman said yesterday.

Distilleries June net up amid higher booze sales

Sri Lanka’s listed distiller and the diversified conglomerate, Distilleries Company of Sri Lanka PLC (DCSL) made a net profit of Rs.1.92 billion or Rs.6.41 a share for the quarter ended June 30, 2016 (1Q17) recording an increase of 9.6 percent from a year ago, the interim results shows.  The performance was predominantly supported by the group’s beverage unit as other segments either weighed over the performance or failed to make

SL to follow Swiss Challenge guidelines for unsolicited proposals

Sri Lanka’s Cabinet of Ministers has approved a proposal to include Swiss Challenge Procedure guidelines to the government procurement guidelines prepared by the country’s Finance Ministry. 

Malik expresses confidence over govt.’s economic reform agenda

Development Strategies and International Trade Minister Malik Samarawickrama said he is confident that with the measures they have introduced, Sri Lanka is ready to face even the worst challenges of tomorrow and give the opportunity for businesses to have a level playing field in the global market.

Sri Lanka–Singapore Business Council holds 19th AGM

The 19th Annual General Meeting (AGM) of the Sri Lanka–Singapore Business Council (SLSBC) of the Ceylon Chamber of Commerce (CCC) was held recently at the CCC. 

Key sectors boost Sunshine Holdings June performance

Diversified Sunshine Holdings PLC saw its net profit for the June quarter (1Q17) rising as much as 27 percent year-on-year (YoY) to Rs.206.5 million, helped by better performance of its key sectors, the interim financial accounts released to the Colombo Stock Exchange showed. 

Sri Lanka and Tanzania to expand business relations

Sri Lanka and Tanzania opened a new chapter in business and investment promotion between the two countries with the launch of the Sri Lanka Tanzania Investment Chamber in Dar es Salaam, Tanzania last week. 

SL’s top three export commodities in downward spiral

Sri Lanka’s textile and garment exports, the only commodity which has been cushioning the country’s 

Hayleys June net profit slips 32%

Diversified conglomerate Hayleys PLC saw its June quarter (1Q17) net profit narrowing 32 percent to Rs.354.9 million or Rs.4.73 a share from a year ago due to poor performances by some of the group’s 

Supreme Court blocks bill raising rate of VAT

REUTERS: Sri Lanka’s Supreme Court has ordered Parliament to stop considering a bill to raise 

Rupee trades steady; stocks little changed

REUTERS: The Sri Lankan rupee traded steady yesterday as dollar demand by importers was offset by conversions of the U.S. currency from exporters amid concerns that price controls by the government could hurt imports, dealers said.