Bio Extracts wins two Presidential Export Awards

Bio Extracts Private Limited won two awards at the recently held Presidential Export awards under the Ayurveda and Health/ Personal Care Products Sector.  Bio Extracts (Pvt) Ltd. is a subsidiary of Aberdeen 

Jaysons Realty launches ‘De Saram Residencies’ in Mount Lavinia

Jaysons Realty (Pvt) Ltd (JRL), the real estate development arm of the Jaysons Group, launched its latest residential apartment complex, De Saram Residencies (DSR) recently. 

Amunugama stresses need to bring rural agriculture to int’l level

The importance of bringing rural agriculture to international level was stressed by Special Assignments Minister Sarath Amunugama at the anniversary celebrations of the Agricultural Research Centre in Gannoruwa, Peradeniya, 

Lankan microenterprises’ potential untapped, women an underutilised asset: Eran

Following is the speech delivered by State Enterprise Development Deputy Minister Eran Wickramaratne at the recent Annual General Meeting (AGM) of the National Chamber of Commerce of 

Korea Exim Bank opens representative office in Colombo

The Export-Import Bank (Exim) of Korea, an official export credit agency of the Republic of Korea has opened a representative office in Colombo.  The State Minister for National Policies and Economic Affairs Niroshan Perera, the Ambassador 

Tourism personality retires to enter academia

Sri Lanka Convention Bureau (SLCB) Chief Executive Vipula Wanigasekera is to step down to pursue a full time academic career from next month. Having served the private sector for 15 years in trade, sales, shipping, exports and marketing, 

StanChart’s global research briefing in Colombo today

Standard Chartered’s global research team will address an exclusive group of the bank’s clients and media personnel today as they present their views at a session titled “Retreat, Regroup, Rebound” as part of the bank’s global research briefing 2016 tour. 

Russell de Mel appointed to Singer Finance board

Singer Sri Lanka’s public listed subsidiary Singer Finance (Lanka) PLC recently announced the appointment of Russell de Mel as an Independent Non-Executive Director to the board with effect from January 1, 2016.

Ceylon Cold Stores 3Q16 net profit up 106% to Rs.651mn

Ceylon Cold Stores PLC (CCS), one of the two fast-moving consumer goods arms of John Keells Holdings PLC, posted a net profit of Rs.651.62 million for the quarter ended December 2015 (3Q16), growing 106 percent year-on-year (yoy).

Hirdaramani buys 10% in Ceylon Hotels Corp.

The Galle Face Hotel Group’s Ceylon Hotel Holdings (Private) Limited has disposed 10 percent of its shareholding in Ceylon Hotels Corporation PLC (CHC) for Rs.515.48 million to apparel heavyweight Hirdaramani.

Rupee edges down on importer dollar demand

REUTERS: The Sri Lankan rupee ended slightly weaker yesterday due to importer dollar demand, while selling of the U.S. currency by a private bank prevented a sharp fall, dealers said.

Softlogic Finance in debt-to-equity deal with the Netherlands’ FMO

Softlogic Finance PLC will be converting some of its debt into equity by issuing new shares worth Rs.288.09 million through a private placement to Dutch development bank FMO.

National consumer prices slow down to 4.2% in December

Sri Lanka’s national inflation measured by National Consumer Price Index (NCPI) in December 2015 slowed down to 4.2 percent from 4.8 percent a month ago, data released by the Department of Census and Statistics (DCS) showed. 

Economist warns of tougher austerity measures from IMF

Despite the International Monetary Fund (IMF) being rather lenient when it bailed-out Sri Lanka from a balance of payment (BoP) crisis in 2009, a leading economist in the country expects harder austerity

Private sector dollar debt to add to country’s external sector woes

?Foreign debt raised by the private sector firms during the last few years are now a cause for concern as servicing such debt has become a challenge for the borrowers with the rising...

Fonterra Brands Sri Lanka gets new MD

?Dairy co-operative Fonterra has announced the appointment of Sunil Sethi as Managing Director of Fonterra Brands Sri Lanka and Indian subcontinent. 

Tea Board rejects quality drop claims

The Sri Lanka Tea Board (SLTB) yesterday strongly rejected the claims on increasing amounts of substandard tea leaves entering the manufacturing process and affirmed the quality of Ceylon tea is at high levels and is improving.

CTC dethrones JKH

?Ceylon Tobacco Company PLC (CTC), a unit of British American Tobacco, yesterday dethroned John Keells Holdings PLC (JKH) as Sri Lanka’s most valuable listed company, adding excitement to an otherwise lacklustre market. 

IMF cuts world growth forecast, warns of emerging market risks

?AFP: The International Monetary Fund (IMF) warned of substantial risks in the major emerging market economies as it lowered its outlook for global economic growth 

EPF among top shareholders of a company with just one director

?Sri Lanka’s private sector pension fund, the Employees’ Provident Fund (EPF), managed by the state, has invested in a company which has just one director in its director board and has negative net worth.  

Hutch launches train ticket purchases via mobile

?Hutch, one of Sri Lanka’s fastest growing 3G networks, has partnered with Mobitel and Sri Lanka Railway to introduce the latest addition to its range of VAS services for its valued customer base, by enabling train ticket purchases straight from a Hutch mobile.

Access Engineering receives highest CIDA recognition

Access Engineering PLC, one of the foremost engineering enterprises in Sri Lanka, was recently accredited with the highest national construction grading for three key engineering disciplines by the Construction Industry Development Authority (CIDA)

4rever wins Gold at Business Excellence Awards 2015

The holy grail in the overall business excellence landscape which encompasses excellence in a wide area such as Excellence in leadership, capacity building...

Spice Council Founder Chairman to attend International Spice Conference in India

?Sarada de Silva will attend the International Spice Conference (ISC) in Goa, India and the Business Sessions of the all India Spice Exporters Forum (AISEF) that begins today. 

German’s Häfele launches Design Centre in Colombo

The international leader in German hardware technologies, Häfele launches its largest state-of-the-art Design Centre in the country at the heart of Colombo,  opening  the first-of-its-kind showroom in Sri Lanka with globally acclaimed innovative solutions...

Tea talks

?High Commissioner of Pakistan, Major General (Retd) Syed Shakeel Hussain met Plantation Industries Minister Navin Dissanayake at the Ministry recently. They discussed about tea export development and related strategies.

Manjula de Silva appointed CIMA Sri Lanka board Chairman

?Manjula de Silva (FCMA CGMA) was inducted as the Chairman of the CIMA Board for 2016 at the induction ceremony of The Chartered Institute of Management Accountants (CIMA) held in Colombo on 19th January. 

Korean construction giant Kunyoung enters Sri Lanka

?With a promise to be a significant contributor towards Sri Lanka’s infrastructure development, leading Korean construction and real estate company Kunyoung Engineering & Construction entered Sri Lanka’s engineering and construction space, launching Kunyoung Ceylon (Pvt.) Ltd. 

Post sanction Iran-Sri Lanka trade readies for major upsurge

?In the wake of last weekend’s lifting of economic sanctions on Iran, the first ever official delegation to Sri Lanka from the post-sanctions Iran will land in Colombo as early as February 23rd, to start crucial joint trade talks.

East aims high with int’l investment forum

Sri Lanka’s Eastern Province is targeting to bring in US $ 1 billion investments and one million in tourists to the region by 2020, a top Local Government official said.