Suncity completes 6-storey tower in Moratuwa

Suncity Developers has announced the completion of the six-storey apartment complex  in Moratuwa Comprising 20 fully functional apartments, Suncity Towers, Moratuwa is equipped with modern accessories and conveniences for residents and will be ready for occupation in July 2016. 

Brandix ups holding in Textured Jersey

Textile giant Brandix Lanka has marginally increased its shareholding in weft knit fabric manufacturer Textured Jersey Lanka (TJL) PLC by 1.25 percent through several deals on the Colombo bourse. It acquired

Govt. yet to decide how to finance Rs.1.1tn unaccounted borrowings

The government has not yet decided on how to finance the Rs.1.1 trillion in undocumented borrowings taken by the past regime, Finance Minister Ravi Karunanayake said. Mirror Business reported 

Ceylon Chamber appoints Dhara Wijayatilake as CEO

The Ceylon Chamber of Commerce, the country’s premier business chamber, yesterday announced the appointment of Dhara Wijayatilake, attorney-at-law, as its new CEO, with effect from March 01, 2016

Shares end at 22-month low; rising rates weigh

REUTERS: Sri Lankan shares fell to 22-month lows yesterday on low volume as rising market interest rates dampened market sentiment and forced some investors to shun risky assets. Sri Lanka’s benchmark 

Moody’s says higher interest rates to increase debt servicing cost, decelerate growth

Despite the recent policy interest rate hikes by the Central Bank having the potential to offset some of the external risks and higher domestic credit growth, higher rates will lead to higher domestic debt servicing cost,

Consumer prices rise in February; core inflation at 33-mth high

REUTERS: Sri Lanka’s consumer prices in February rose 2.7 percent from a year earlier, accelerating from the previous month’s 0.9 percent, data from the Department of Census and Statistics showed yesterday.

Members of the Baur Foundation visit Baurs

The President Olivier Dunant and the Members of the Council of the Foundation Alfred & Eugénie Baur Stéphanie La Roche, Philippe Ilg and Sébastien Demole visited Baurs and looked at the progress of the expansion plans in infrastructure and business lines.

Hirdaramani Group’s Eheliyagoda facility receives LEED Gold Certification

Hirdaramani Knit, Eheliyagoda, was awarded the LEED Gold Certification by the U.S Green Building Council recently. The award, which is verified by the Green Building Certification Institute (GBCI), marks the Hirdaramani Group’s fifth LEED Certified facility in Sri Lanka. The prestigious certification was audited by Co-Energy (Pvt.) Ltd.

Abans make cooking a pleasure with Pyrex, Corning, Visions & Corelle

Modern cooking was never so convenient till Pyrex introduced its range of ultra tough cookware and bakeware. The innovative Visions and Corning range in which you can cook over a direct flame, serve, freeze, reheat and serve again, all in the same dish, saves the housewife precious time in washing and cleaning. 

TFO marks 5th anniversary with 50% off on all items

In celebration of the 5th anniversary, The Factory Outlet (TFO) conducts it’s 5th Gala Anniversary Sale to share this successful milestone with it’s customers by providing 50 percent discount on all items. 

K. Sivagananathan Memorial Oration & Awards to be held next week

K Sivagananathan Memorial Trust (KSMT) and the Association of Professional Bankers of Sri Lanka (APB) will hold its 14th annual K Sivagananathan Memorial Oration & Awards Ceremony on 8th March in commemoration of the late K Sivagananathan, an innovative banker in Sri Lanka.  

Yamaha Music Centre launches Marshall Bluetooth speakers and headphones

A new dimension in high quality sound amplification has been introduced to Sri Lanka by the Yamaha Music Centre with the launch of a range of Bluetooth speakers and headphones from Marshall, the iconic British manufacturer of guitar amplifiers.

CEAT launches road trip to capture support for cricket team

As cricket fever tightens its grip on the subcontinent, Sri Lanka’s wielders of the willow are to be given a morale booster by CEAT, the country’s leading tyre brand, which is rolling out an innovative activity to reignite the fervour and unite fans behind the island’s un-fancied team.

First Lak Sathosa opens in Batticaloa district

The first ever Lak Sathosa that opened in the Batticaloa district has netted almost Rs 400000 in its opening day. 

Modern Trading opens “Modern House” in Colombo

Modern Trading (Pvt) Ltd., recently celebrated the opening of their showroom “Modern House” at Vijaya Kumaratunga Mawatha, Colombo 5.

GSK launches dedicated website to share knowledge with doctors

GlaxoSmithKline (GSK) Pharmaceuticals has launched an online information resource exclusively for medical professionals in Sri Lanka, taking its commitment to the fraternity to a new level. Accessible to doctors 

Convenience Foods receives ISO certification for environmental management

Convenience Foods (Lanka) PLC a subsidiary of Ceylon Biscuits Limited (CBL), is the pioneer in manufacturing and marketing Lankasoy, the market leader for soya based products in Sri Lanka. The company 

Axienta unveils Big Data solutions to Sri Lankan market

The use of Big Data is becoming a vital strategy to gain competitive advantage. Data driven strategies lead to more realtime and effective decision making. Axienta is delighted to launch its Big Data solutions

Our foreign policy shouldn’t endanger India’s national security: Eran

Sri Lanka cannot endanger the national security of India when creating foreign policies, while opportunities exist to piggyback on the growth of the Northern neighbour, Public Enterprise Development

Apparel machinery exhibition in June

The Apparel Industry Suppliers Exhibition (AISEX) is an exhibition which aims to bring all suppliers and service organisations under one roof. The exhibition will focus on a wide range of textile machinery

NPC must adopt a preferential procurement policy framework to cover public procurements

Dear Mr. President, You have clearly articulated on many occasions that public procurements made by the government 

First round of MTI’s ‘idea2fund’ closes today

The first round of applications for MTI’s idea2fund will close today. “The initial response has been very encouraging.

NCE conducts seminar between Northern member exporters and producers

The National Chamber of Exporters (NCE) of Sri Lanka has been regularly participating in the Jaffna International Trade Fair (JITF) during the last two years to fulfil its objective of bringing economic prosperity to the people

SLSBC and Singapore (Sri Lanka) Club hold networking event

A joint Networking Evening was organised by the Sri Lanka – Singapore Business Council (SLSBC) of the Ceylon Chamber of Commerce and Singapore (Sri Lanka) Club recently. The event was organised with the objective

EPF may trim stock investments to honour budgetary commitments

State-controlled private sector pension fund, the Employee’s Provident Fund may shed (EPF) some of its investments in the stock market and other securities in order to honour budgetary commitments, the Central Bank Governor said.

Vehicle LTV restrictions, a blow on inclusive development: economist

Though higher down payments have already started to yield the policy expectation of slowing down vehicle imports, an economist cautioned such restrictions could become a blow on inclusive development, which the government wants to promote.  This is because the poor, who could then afford a small vehicle, which gave them economic opportunities through improved mobility, are now deprived of access to mobility due to the higher Loan-To-Value (L

Dialog wins Global Award at Mobile World Congress

Sri Lanka’s, Dialog Axiata PLC, claimed top honours once again at the Mobile World Congress held in Barcelona Spain this week, winning the award for the Best Mobile Network Solution for  Serving Customers. 

Higher consumer spending boosts Singer 4Q net 50%

Leading consumer durables retailer, Singer Sri Lanka PLC group increased its December quarter net profits 51 percent year-on-year (yoy) to Rs.385 million, supported by higher consumer spending seen throughout last year, the group interim results showed.  

CB contemplating new rules on banks to boost rural sector

The Central Bank of Sri Lanka is thinking of importing a controversial piece of American legislation to regulate the operations of the banking sector to fund the country’s sluggish rural sector.  “I can reveal to you that we’re studying a system in the United States, called the Community Reinvestment Act, where the US banks are mandated to reinvest 35 percent of deposits in any region back in that same region,” Centra