Moody’s gives thumbs up for banks despite Budget snags

?International ratings agency Moody’s reaffirmed Sri Lanka’s banking sector with a stable outlook, due to continuous economic growth, healthy asset quality and profitability.

Overseas Realty adjudged ‘Leader’ of the sector

?Overseas Realty (Ceylon) PLC was adjudged “Leader” of the Land and Property Sector - 2014/2015 in the CIMA- LMD 100. The awards ceremony was held at the Cinnamon Grand on 1st December. LMD, in collaboration with CIMA, presented the CIMA-LMD 100 Awards for the financial year 2014/15.

Matchbox industry in trouble over gunpowder import restrictions

The matchbox factories in Sri Lanka are not operating due to national security concerns over importing gunpowder, as was revealed during the fifth Ease of Doing Business Forum held last week.

Brown & Company wins Silver at 51st Annual Report Awards

?Brown & Company PLC, was awarded the Silver prize at the 51st Annual Report Awards ceremony organised by The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka). 

Sri Lanka’s 2016 revenue, capital expenditure goals ambitious: IMF official

?REUTERS: Sri Lanka’s 2016 Budget raises questions about its ambitious revenue and capital expenditure targets as the government is falling far short of steps needed to improve the tax system, a top International Monetary Fund (IMF) official said yesterday.

Litro Gas sales up; completes terminal at Hambantota

?The national liquid petroleum gas(LPG) company has exhibited a significant sales growth of above 30 percent in the domestic market during the first 10 months of this year. This complements with the imposed price reductions by the government.

Sanjeev Gardiner appointed as Taprobane Holdings Chairman

?Sanjeev Gardiner was appointed as the Chairman of Taprobane Holdings PLC (TAP) with effect from December 4, 2015.

Shares end at more than 8-month low

?REUTERS:  Sri Lankan shares closed at their lowest in more than eight months yesterday on worries that the new Budget proposals would hit earnings of financial firms.

Crimson Creative Solutions bags Gold and two Silvers at Lanka Star Award 2015

Crimson Creative Solutions (Pvt) Ltd, a total solutions advertising service provider focused on delivering innovative work that enhances brand value and customer retention won a Gold and two Silver awards...

Shakthi Restaurant offers array of delectable menus and discounts

?In lieu of the forthcoming X’mas and New Year season, Shakthi Restaurant situated in the heart of Fort, is gearing up to cater a delectable array of dishes to its customers. 

Oviklo International recognized for logistics and transport sector performance again

The National Business Excellence Awards (NBEA) celebrated Sri Lanka’s best corporate in a gala ceremony held on the 24th of November at the Colombo Hilton.

Pathfinder Foundation to launch Centre for Indo-Lanka Initiatives

?The Pathfinder Foundation (PF) will launch the ‘Centre for Indo-Lanka Initiatives’ today at the Purasarana Building, Colombo 12 at a ceremony officiated by Indian High Commissioner Yash Sinha and PF Founder Milinda Moragoda.

Barista Lavazza’s signature “Grand Barista Championship” returns

?Colombo’s favourite coffee house chain Barista Lavazza staged its signature annual “Grand Barista Championship 2015” on the 1st of December. 

Christmas fun & games for kids at Abans

?With just over three weeks to go for Christmas, its the right time to learn a few special dishes to adorn your dining table for the festive season. And who better to demonstrate the finer points of festive culinary than Five Star Chef Kusum Fernando. 

Aluthgama Development Foundation felicitates volunteers’ work

Members of the ADF (Aluthgama Development Foundation) recently came together to acknowledge the work of the organization’s many volunteers. 

Airport reopens in India’s flood-hit South

AFP: India’s main airport in flood-devastated Tamil Nadu state reopened yesterday as emergency workers strove to help thousands of residents forced to flee their inundated homes.

Securities regulator arrested for funds misuse

?REUTERS:  A top securities regulator was arrested on Friday in Sri Lanka on suspicion of financial misappropriation, a police spokesman said.

IMF says looking at options for Sri Lanka, no formal request

REUTERS: Sri Lanka has not made a formal request for International Monetary Fund (IMF) help but the fund’s staff are looking at ways to help the island nation, an IMF spokesman said recently. 

Top conglomerates eye Lanka Hospital stake to expand healthcare business

Two of Sri Lanka’s leading diversified conglomerates have shown interest in acquiring shares of state-controlled Lanka Hospitals Corporations PLC (PLC), which will be up for sale in the near future.

Steradian announces plan for Rs.2.5 bn apartment complex for young professionals

Steradian Capital, a privately owned, real estate development and consultancy business, announced its plans for an apartment complex named ‘MulberryResidence’, at an event held in Colombo recently.

DIMO crowned for Annual Report Excellence

Diesel and Motor Engineering (DIMO) PLC swept the boards at the CA Sri Lanka Annual Report Awards 2015, winning the overall Gold Award for the best annual report in the competition,...

Singer among Sri Lanka’s Most Responsible Corporate Citizens

Sri Lanka’s CSR activities were recognized recently as it picked up a slew of prestigious accolades at the Best Corporate Citizen Awards Ceremony organized by the Ceylon Chamber of Commerce. 

CCI engages global and local Asbestos experts to educate industry stakeholders

?The Chamber of Construction Industry Sri Lanka (CCI), the apex body which represents all the construction industry stakeholders in Sri Lanka held a special seminar on “Facts about the use of asbestos – Chrysotile Cement Roofing” on the 1st of December at the Taj Samudra Hotel. 

Valcena Paris introduces Damscena Rose to Sri Lanka

Taking the center stage this festive season in the local cosmetics industry is an all fresh and innovative skincare product range from the fashion capital of the world, called Valcena Paris. 

Exclusive CROSS store opens at Liberty Plaza today

The internatonally reputed CROSS brand – leader in writing instruments and lifestyle accessories, opens its exclusive new CROSS store at Liberty Plaza today.

Sony launches MDR range of headphones for personal entertainment

?Sony launched MDR – Music Deserves Respect, its range of headphones for personal entertainment, in collaboration with Siedles (Pvt) Ltd & Singer Sri Lanka PLC on the 6th of November at Park Street Mews, Colombo. 

Four-pronged drive to fight counterfeiting

In a bid to fight illegal trafficking of counterfeit goods, leading law enforcement agencies have established a joint force with AmCham Sri Lanka (American Chamber of Commerce) to launch a propaganda campaign called “Stay safe from fakes”. 

EU, Internet giants join forces to fight online extremism

AFP - The European Union on Thursday launched a forum bringing together Internet firms like Google, Facebook and Twitter as well as law enforcement agencies to combat online extremism.

​World’s first washable smartphone to debut in Japan

AFP - Tired of those unsightly smudges and other dirt on your bacteria-laden smartphone? A Japanese firm says it has the solution with what it describes the world’s first smartphone that can be washed with soap and water. Waterproof smartphones 

Asia stocks sink with US, Europe but euro holds gains

AFP - Asian markets tumbled yesterday, in line with a global sell-off, while the euro held most of its earlier gains after the European Central Bank’s revised economic stimulus measures came up short.