MTI’s ‘idea2fund’ gets a boost from top corporates

Top corporates in Sri Lanka from diverse industries have joined hands with MTI Corporate Finance to sponsor ‘idea2fund’.   

ICTA in initial talks with Central Bank to introduce crypto-currencies

Sri Lanka’s ICT agency chief yesterday said it had held initial discussions with the Central Bank of Sri Lanka on including crypto-currencies into the country’s financial system. Information 

Ports Minister calls for open discussion to resolve maritime issues

Minister of Ports and Shipping Arjuna Ranatunga emphasized the need for an open discussion to resolve ports and maritime sector issues.

US $ 15bn tourism industry at risk sans master plan: research

Sri Lanka’s tourism industry, the only sweet spot in the economy with a potential of earning US $ 15 billion by 2018...

KLS Energy and CEB blame each other over halted solar hybrid plant in Jaffna

KLS Energy Lanka (Pvt) Ltd’s US$ 150 million wind/solar hybrid power plant in Jaffna has been cancelled as the company had not continued its investment in the project, a top government official said.

Rupee forwards steady; IMF concerns weigh

REUTERS: Sri Lankan rupee forwards traded steady yesterday as mild importer dollar demand offset selling of the greenback by banks

Litro Gas posts record growth in year 2015

The national LPG (liquid petroleum gas) company marks 2015 a record year posting gross profits of over Rs.6 billion with significant increases in volumes (22 percent) and market growth (acquiring a total 485,548 new connections).    

European Union and FAO support marine finfish farming development in Sri Lanka

The Food and Agriculture Organization of the United Nations (FAO) in collaboration with the National Aquaculture Development Authority (NAQDA) is constructing a marine finfish hatchery in Tharmapuram, Batticaloa to fulfill the national objectives to promote marine finfish farming in the country.   

Mass transit essential for Colombo to succeed: UDA DG

The critical role earmarked for joined-up public transport in Colombo’s development and what can be done to boost lending for housing were two topical issues explored by the senior figures at the Urban Development Authority (UDA) in recent interviews they gave to the global research, publishing and consulting firm Oxford Business Group (OBG).  

Sri Lanka Investment and Business Conclave 2016 to kick-start in March

Overseas investors (Business Executives) expected to take part in the upcoming ‘Sri Lanka Investment and Business Conclave 2016,’ organized by the Ceylon Chamber of Commerce have shown an interest to meet Sri Lankan businesses engaged in diverse business sectors.  

Jordan to provide express visa for Lankan businessmen

Jordanian envoy to Sri Lanka Hassan M. Al Jawarneh said his embassy would help Sri Lankan businessmen to access quick visas to Jordan...

Rupee forwards edge down; IMF statement raises concerns

REUTERS: The Sri Lankan rupee edged down yesterday on importer dollar demand though banks selling the greenback prevented a further fall amid concerns triggered...

Unknown disease spreading across Lankan pepper cultivations

Sri Lanka’s pepper industry stakeholders fear significantly lower production yields this year as an unknown disease is spreading across the country’s pepper cultivations. 

Bidding for Mannar gas fields in 2 months: official

Bidding rounds for the Mannar basin’s offshore oil and gas fields are likely to begin in two months, a top Power and Energy Ministry official said yesterday. 

Access Engineering 3Q net up 2.6%

Diversified Access Engineering PLC saw its net profit for the quarter ended December 31, 2015 (3Q16) edging up 2.6 percent year-on-year (YoY) to Rs.544.8 million.

January tourist arrivals up 24%; tourists from China soar 122%

Tourist arrivals to Sri Lanka in January 2016 rose 24.3 percent year-on-year (YoY) to 194,280, Sri Lanka tourism office data showed.

Finnish delegation in town to explore biz opportunities

A business delegation consisting of eight representatives of leading Finnish enterprises and banks paid a visit to the Board of Investment (BoI)

SL requests IMF bailout to tackle budget deficit

AFP: Sri Lanka has made a formal request for an International Monetary Fund (IMF) bailout package to aid its struggling economy after a sharp slowdown in growth and with its budget deficit widening, officials said Saturday.

FinMin to set up two committees to resolve tariff and tax-related issues

Sri Lanka’s Finance Ministry will be reviving two advisory committees to look into customs tariffs and tax-related issues, top officials said.

IMF pushes government to make stronger effort to cut budget deficit

The International Monetary Fund (IMF) has told the Sri Lanka authorities to “urgently make a stronger effort” to cut the country’s budget deficit.  

John Keells Hotels 3Q profit narrows over declined occupancy

Leading hotel operator John Keells Hotels PLC saw its group net profits narrowing 13 percent to Rs.364. 6 million from a year ago amid the declining occupancies, the interim results released to the Colombo Stock Exchange last week showed. 

CNCI to launch Achiever Awards 2016

The Ceylon National Chamber of Industries (CNCI) has planned the official launch and media briefing of CNCI Achiever Awards 2016 for industrial excellence to be held at Salon Anthurium of Hotel Galadari on February 9, 2016 at 6:00 p.m. 

SASA delegation meets Amunugama

A delegation of the Sri Lanka Administrative. Service Association (SASA) met Dr. Sarath Amunugama for a discussion recently.

ComBank supports ‘Ransalu’ loyalty privilege programme for apparel sector

Sri Lanka’s apparel sector associates are to be supported by the country’s largest private bank with an exclusive debit card that confers special benefits

Top accounting body to introduce forensic auditing to combat fraud

Sri Lanka’s national standards setting body, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) is planning to introduce a programme in forensic auditing for its members...

Glut in apartments to cost formal hotel sector dearly

The glut in luxury apartments and the unregulated hospitality sector could cost the regulated hotels by as much as US $ 480 million by 2018...

ILO, Maga and NAITA hold Construction Craftsmen Certificate Awarding Ceremony

The ceremony for awarding certificates for 100 youth craftsmen who had successfully completed the 6 month long Construction Craftsmen training programme, 

Oil up, Japan stocks down as US fears hit dollar

AFP - Growing fears that global economic turmoil is seeping into the United States kept pressure on the dollar yesterday boosting 

Royal College past pupils to hold career development and leadership seminar

The Royal College Class of 72’ will again host the popular ‘Excellence in Action’ - a career development and leadership seminar, 

HNB sponsors World Wetlands Day Art competition

HNB’s CSR arm HNB Sustainability Foundation, under its CSR pillar ‘Care for Nature’, has sponsored the 2016 World Wetlands Day Art Competition organized by the Central  Environmental Authority,