Employers’ Federation launches National Network of Youth Initiatives

The Employers’ Federation of Ceylon (EFC) launched its Employers’ National Network of Youth Initiatives (ENNYI) at the EFC premises, recently. 

ETCA will cause no harm to local industries: State Min.

State Minister of International Trade Sujeewa Senasinghe said the proposed  Economic and Technology Cooperation Agreement (ETCA) with India, was aimed at developing the country’s economy and not to fulfil any hidden political agenda.

Bangladeshi firms eyeing CSE listings

Bangladeshi companies are also inquiring from the Colombo Stock Exchange the possibility of listing their companies in the bourse, a top official said yesterday. “Bangladeshi companies are slowly asking us ‘can we list here?’” CSE Chairman Vajira Kulatilaka said.

MTI’s ‘idea2fund’ attracts 250 ideas to fund

A total of 250 potential start-ups and scale-ups have applied for the first round of MTI’s ‘idea2fund, the deadline for which was 29th February 2016. 

NSB directors appointed to Entrust board

The directors of state-owned National Savings Bank have been appointed to the board of troubled Entrust Securities PLC, under a Central Bank directive.

Two Lankan firms ink agreements with NZ counterparts

Two Sri Lankan private sector companies have entered into business arrangements with two New Zealand business giants, following the recent visit of New Zealand Prime Minister John Key. 

Japan’s Sojitz Corp buys major stake in Kelanitissa

Japanese industrial giant Sojitz Corporation has bought over 90 percent of the shares of Kelanitissa Private Limited, which owns the 163MW Kelanitissa fossil fuel power plant.

Customs Dept. sets up 24/7 hotline to provide speedy solutions

The Sri Lanka Customs Department has begun operating a 24/7 customer hotline to help solve any customs issues within 8 days.

MoneyGram partners 2016 ICC World Twenty20 as Official Sponsor

The global provider of innovative money transfer and payment services, MoneyGram, has been named an official sponsor of the upcoming 2016 ICC World Twenty20 Tournament, and in line with this, has launched the ‘MoneyGram Bowling Challenge’ – an exciting competition that will give Sri Lankan cricket fans a chance to win tickets to the T20 matches. 

Schueco India announces new partnership with Asoka Glass & Mirror

In a recent geographic expansion for Schueco India operations in another country, Schueco has tied-up with Asoka Glass & Mirror. 

Maxxis Tyres t3 holds dealer convention

Maxxis  Tyres t3 2015 award ceremony and the dealer convention was held on 27th February at The Kingsbury Colombo, with over 275 dealers participating at the event. The winner, the best dealer with highest performance in 2015 was Ravindra Premathilaka of Ravindra Lanka Auto service (Pvt) Ltd.  Here the winner receiving the award from Dr. Wally Y H Chen, President Maxxis International.  Lenny H K Lee, Maxxis Global Marketing Directo

Nestlé opens new milk chilling centre, contributes nearly Rs. 4 bn to dairy industry

Nestlé, Sri Lanka’s largest private sector collector of fresh milk, has contributed Rs. 3.6 billion to almost 20,000 local farmers as payment for fresh milk, to manufacture its products like Nespray, Milo and Milkmaid. 

Access Engineering making headway in rehabilitating six waste water pump stations

Access Engineering PLC is making significant headway in the rehabilitation work of the wastewater pump stations in Dehiwala, Mt. Lavinia and Kolonnawa under the Greater Colombo Wastewater Management Project. 

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