Seminar on how to import high quality goods at factory cost

The Ceylon Chamber of commerce in collaboration with Fair Deal AS, a globally spread import  sourcing arm will hold a seminar in the Chamber to educate and help local importers source quality goods at 

President, top policy makers to address Economic Summit

Sri Lankan Government’s top policy makers led by President Maithripala Sirisena are slated to attend the upcoming Sri Lanka Economic Summit 2016 and will discuss how to ‘Focus.Act.Deliver’ to propel the nation’s economy to new heights.

Optima Designs teams up with Expo Lanka for plant-able annual report

What if annual reports were more than just reams of paper? What if they lasted longer and remained relevant long after the year under review has passed? That’s exactly what Expo had in mind in taking sustainable reporting to the next level when they combined their philosophy with design innovators - Optima Designs. 

ADB’s US $ 118mn lifeline to fix Lankan power sector

The Asian Development Bank (ADB) has approved US $ 118.8 million in funding to help improve Sri Lanka’s electricity grid, which is under the threat of running into power shortages in the coming years. The funding is broken down into a US $ 115 million loan and US $ 3.8 million grant, which is provided by the Japan Fund for Poverty Reduction and the Clean Energy Fund.

China to manage 15,000-acre land in Hambantota

The Sri Lankan government is currently looking at providing 50 square kilometres of land to China to develop as an exports-oriented industrial zone in Hambantota, the Development Strategies and International Trade Minister Malik Samarawickrama said recently.

June tea production plunges; brings 1H output to lowest levels in years

Sri Lanka’s tea industry continues to move along a negative growth trajectory with dampened production in June dragging the 1H16 output to the lowest levels witnessed in years.

John Keells Hotels 1Q net down 36%

The John Keells group leisure arm, John Keells Hotels PLC (KHL) saw its net profits for the quarter ended June 30, 2016 (1Q17) declining by as much as 36 percent year-on-year (YoY) to Rs.83.9 million over poor growth in tourist arrivals to the region, the interim results released to the Colombo Stock Exchange showed.  The earnings per share dropped to just 6 cents from 9 cents a year ago. The group profit was hurt the most by the steeper fal

Sri Lanka’s Chevron Lubricants’ June quarter flat over stagnant top line

Chevron Lubricants Lanka PLC (Chevron), the local unit of the American multinational, posted a June quarter (2Q16) net profit of Rs.802.0 million, almost flat from the same period last year, the interim results showed.  The earnings per share edged up to Rs.3.34 from Rs.3.32. 

Plugging to India will bring shared benefits to South Asia: Prof. Sally

Politicians in South Asian countries must break regional barriers, especially with India, in order to create opportunities for regional trade, renowned economist and Institute of Policy Studies Chairman Professor Razeen Sally said recently.  Prof. Sally pointed out that “huge opportunities” would arise within the region and mostly with India if the existing and emerging barriers are actively addressed and brought down.

ETCA sans labour movement - Malik

Taking another interesting twist surrounding the controversial trade and services pact with India, the government yesterday said the Economic and Technological Cooperation Agreement (ETCA) would go 

Sri Lanka’s financial sector should evolve into progressive cyber risk mgt paradigm: Deloitte

Sri Lanka’s growing mobile usage and internet penetration have left the country’s financial services 

RPCs eye signing productivity-based collective agreement

Based on the undertaking that a productivity-based wage agreement would be signed by August 2016 for the remuneration of estate workers, the Regional Plantations Companies (RPCs) yesterday signed 

Regaining GSP Plus will make up for Brexit downsides: TJL MD

Sri Lanka’s largest listed apparel company, Textured Jersey Lanka PLC (TJL), said that regaining the European Union’s Generalized System of Preferences Plus (GSP Plus) facility will more than make 

Rajapaksa’s bad gotten worse under current regime – Prof. Sally

The Sirisena-Wickramasinghe coalition has plunged the Lankan economy from bad to worse since coming in to power by pursuing vote buying loose fiscal policy leading to macro-economic instability, 

TFO brings affordable fashion to Ja-Ela

The Factory Outlet (TFO) continuing its branch expansion initiative opened its 4th store in Ja-Ela 

Ceyoka signs agreement with Malaysia’s Success Electronics for Nikkon lighting solutions

Ceyoka Professional Lighting, part of diversified conglomerate Ceyoka (Pvt) Ltd and at the forefront in supplying premier industrial lighting solutions for customers, strengthened its local market 

Brandix wins two awards at Gap Inc.’s 2016 Vendor Summit

The Brandix Group has won two top awards including the award for ‘Outstanding Vendor – Overall Excellence’ from Gap Inc., a leading global retailer of clothing.

Jayamal Dias joins Altair as Head of Sales & Marketing

Indocean Developers, the promoter of the Altair twin tower high rise, has announced the appointment effective 15th July, of Jay Dias as Head of Sales and Marketing.

Mahinda beats Visakha to lift Tokyo Cement Super Quiz Crown

Mahinda College, Galle walked away with the coveted Tokyo Cement Super Quiz Crown at the Grand Finale of Season 3 held on Sunday in front of a live studio audience. Having clenched the Rs.1 

FACETS 2016 to debut Premier Jewellery Pavilion

The 26th edition of ‘FACETS’, Sri Lanka’s foremost annual International Gem and Jewellery Show- from 1 to 4 September, 2016 will unveil its Premier Jewellery Pavilion - the first of its kind- displaying 

Sally gives thumbs down for govt.’s economic management

Renowned economist and Institute of Policy Studies Chairman Professor Razeen Sally said that the government has so far failed to formulate a credible plan for economic reforms, just one day after 

Growth of informal tourism sector encouraging: THASL Chief

The blooming informal sector in tourism is positive, when taking into account the greater interests of 

Rupee ends steady on bank dollar sales; importer demand weighs

REUTERS: The Sri Lankan rupee closed steady yesterday as late importer demand for the 

EGM to appoint new NDB Bank Chairman shot down by shareholders

The NDB Bank board yesterday cancelled the Extraordinary General Meeting (EGM), which was to be 

Browns Hotels consolidates control on Eden Hotel Lanka

Browns Hotels and Resorts Limited (BHRL) increased its shareholding in Eden Hotel Lanka PLC (EDEN) significantly last week following the conclusion of a mandatory offer. BRHL purchased 13.11 

Thailand’s Siam City Cement bags Holcim Lanka for US $ 373mn

The Thai cement industry leader Siam City Cement Public Company Limited (SCCC) acquired Holcim 

Maga Engineering to rehabilitate 634km rural roads at Rs.13.2bn cost

Sri Lanka’s leading construction firm Maga Engineering (Pvt.) Ltd was recently awarded the contract to rehabilitate and improve 634 kilometres of rural roads in four districts of Sri Lanka, including their performance-based maintenance for three years. 

Japan and Sri Lanka to further enhance economic cooperation

Japan and Sri Lanka will hold the Consultation on National Development Cooperation and the Economic Policy Dialogue today at Cinnamon Lakeside Hotel, Colombo. These two meetings will be held as a follow up to the visit to Japan by Prime Minister Ranil Wickremesinghe in October 2015, during which Prime Minister Abe and Wickremasinghe agreed upon a ‘Comprehensive Partnership’ to further deepen bilateral cooperation. 

MAS Holdings-Flex partner to drive innovation in wearable technology for clothing

MAS Holdings partners with Flextronics International Ltd, a leading Sketch-to-Scale solutions company that designs and builds intelligent products for a connected world.

Construction Expo to kick off on July 29

The Ceylon Institute of Builders (CIOB) together with presidential award winner Lanka Exhibitions & Conference Services will be organising the fifth Construction Expo Mega Mart from July 29 to 31, 2016 at the BMICH.