Lankan tea sector yet to gain from Iranian banks’ SWIFT link

The local tea industry will have to wait further to reap the benefits originating from Iranian banks reconnecting to the Society for Worldwide Interbank Financial Telecommunication (SWIFT) as Sri Lanka’s monetary watchdog is yet to act on it. 

Renuka crowned ‘Best Coconut Brand’ at Presidential Export Awards

Renuka was recently adjudged the ‘Best Coconut Brand’ and Renuka Agri Foods Plc was awarded the ‘Best Brand Exporter’ and ‘Best Exporter - CoconutSector’ at the Presidential Export Awards Ceremony held recently under the patronage of President Maithripala Sirisena in Colombo. 

Ceylon Chamber’s Investor Forum attracts global interest

The upcoming ‘Sri Lanka Investment & Business Conclave 2016,’ organized by the Ceylon Chamber of Commerce has seen wide interest from investors from across the globe.

Litro Gas recipe competition winners get vouchers

Litro Gas Plc awarded the winners of Christmas Recipes sharing competition recently.  

Hemas Holdings opens CSE trading

Hemas Holdings PLC rang the opening bell to commence trading at the Colombo Stock Exchange (CSE) on Monday. This event was yet another in a series of market opening ceremonies, featuring companies from the S&P SL20 index. 

Pre-feasibility study for SL-India HVDC grid linking project completed: PUCSL

Public Utilities Commission of Sri Lanka (PUCSL), the country’s electricity regulator said the pre-feasibility study for Sri Lanka-India HVDC grid interconnection project had been successfully completed. 

JAC Forklift showroom opens in Kelaniya

Samson Engineers (Pvt) Ltd., recently opened its new showroom for JAC Forklift brand at Dalugama, Kelaniya. 

John Keells/SGIT wins SAP ACE Award for 3rd time

Strategic Group IT (SGIT) of John Keells Holdings Plc, the Group’s IT arm as well as a boutique IT Consultancy and Services Organization, has won the SAP ACE (Award for Customer Excellence) Award for the 3rd time. 

Kelani Cables becomes first Lankan company to introduce LED Clear Bulb for domestic use

Kelani Cables PLC recently introduced to the Sri Lankan market Kelani LED Clear Bulb which is suitable for domestic use. 

Access and Samsung enter into strategic alliance for air conditioning

Access International Projects, a subsidiary of The Access Group, one of Sri Lanka’s fastest growing conglomerates in a diverse range of areas,...

Ravi K says no tussle with Kabir Hashim over board appointments

No attempts at new appointments have been made to state-owned enterprises since the portfolio changed from the Finance Ministry to the Public Enterprise Development Ministry, the Finance Minister said.

LHI completes fourth coastal engineering project in Algeria

Lanka Hydraulic Institute Ltd (LHI), Pioneer engineering consultancy firm, successfully completed yet another coastal engineering project in Algeria. 

OPA inducts 35th President

The Organisation of Professional Associations (OPA) held its 35th President’s I n d u c t i o n C e r e m o n y a t C i n n a m o n G r a n d Colombo recently The OPA being the only professional organisation in Sri Lanka that embraces 46 professional associations, 

The Pathfinder Foundation: Review of activities 2015

The Pathfinder Foundation in its 10th year (2015) undertook a wide range of activities including research on topical economic and strategic issues, advocacy targeted at policymakers, raising awareness amongst the population, 

Top corporates pledge Rs.700mn for MTI’s ‘idea2fund’

Sri Lanka’s top corporates from various industries have pledged in total Rs.700 million for MTI’s ‘idea2fund’. The investment pool of Rs.700 million is to encourage budding entrepreneurs with business ideas to start up through the idea2fund platform. 

ACCA discusses importance of double tax treaties

Sri Lanka has a network of almost 42 double taxation treaties (DTAs), which are aimed towards the elimination of double taxation. With globalization, 

PUCSL to employ int’l tool to asses future electricity demand

The Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator, is planning to adopt an internationally accepted tool to review the forecasted electricity demand in Sri Lanka and to access the Long-Term Generation Expansion Plan (2015-2032) by the Ceylon Electricity Board (CEB). 

Fitch affirms SriLankan’s guaranteed bond at ‘BB-’

Fitch Ratings has affirmed the rating on SriLankan Airlines Limited’s (SLA) US dollardenominated government guaranteed bonds at ‘BB-’. The national carrier’s bonds are rated at the same level as SLA’s parent, the state of Sri Lanka, 

US $ 100mn capital infusion to ETI Finance gets CB nod

ETI Finance Limi ted , a registered finance company with the Central Bank, is to receive foreign equity investment to the tune of US $ 100 million, Swarnamahal Financial Services PLC said in a filing to the Colombo Stock Exchange. 

Malik calls foreign investors to be part of country’s development agenda

International Trade Minister Malik Samarawickrama called on foreign investors to partake in the national development agenda assuring them that the government was committed to transform the country’s economy.

Cruise ship makes call on all Lankan main ports for first time

For the first time in Sri Lanka, a cruise ship has made calls on the four main ports of Sri Lanka. The Luxury Cruise Ship Ms Europa 2 owned by German operator Hapag-Lloyd Kreuzfahrten called on the 29th, 30th and 31st January 2016 to the Ports of Galle

JKH December net profit falls 10% over previous year’s capital gains

Sri Lanka’s premier blue ship, John Keells Holdings PLC (JKH) saw its net profit for the quarter ended December 31, 2015 (3Q16) dropping 10 percent year-on-year (yoy) to Rs.3.9 billion as the corresponding quarter last year included a capital gain of Rs.610 million, 

‘Ease of doing Business’ 6th session this Wednesday

The sixth session of the ‘Ease of doing Business’ series will be held under the aegis of Finance Minister Ravi Karunanayake at 2.00 p.m. on February 03 at MILODA Institute. ‘Ease of Doing Business’ is conducted with the prime objective of finding solutions to problems encountered by local businessmen in carrying out their business activities.

Cinnamon Lakeside owner’s 3Q down 53%; records higher costs, borrowings

Trans Asia Hotels PLC, a unit of John Keells group, which owns the 5-star Cinnamon Lakeside Hotel posted net profit of Rs.81.8 million for the quarter ended December 31, 2015 (3Q16), 

Power and energy firms hail proposed fuel formula

The highly anticipated fuel formula, if implemented as planned, is expected to be beneficial to power and energy companies, the country’s private power sector operators said. 

SriLankan Airlines launches thrice weekly non-stop flights from Guangzhou to Colombo

Airlines introduced thrice weekly non-stop flights from Guangzhou to Colombo from January 2016, on three of its four frequencies, becoming the first airline operating direct flights between Guangzhou and Colombo in the South China market. 

Rupee forwards rise on dollar sales; stocks up

REUTERS - Sri Lankan rupee forwards strengthened yesterday as a foreign bank sold dollars, while the spot rupee was not traded as banks were reluctant to trade it below the 144.00 level amid moral suasion by the Central Bank, dealers said.

Jaffna International Trade Fair kick-starts

The largest exhibition and consumer fair, JITF 2016 opened for the 7th consecutive time at the Municipal Grounds, Jaffna yesterday.  The event is organized by the Lanka Exhibition and Conference Services (Pvt.) 

CCC Biz Council promotes trade and investment in China’s three major provinces

In November 2015, The Sri Lanka - China Business Council of the Ceylon Chamber of Commerce achieved a major milestone in its journey so far, when the Council organized its first 

Citrus Leisure posts Rs. 323 mn revenue in Q3 2015/16

The Citrus Leisure Group announced a revenue of Rs. 323 million for the third quarter of 2015/16 ending 31st December 2015, a 66 percent growth compared to the corresponding quarter in 2014/15.