Oil prices trade near US$ 42 in Asia

AFP - Oil prices traded near $42 in Asia yesterday as US markets took a break for Thanksgiving and Russia ruled out a military strike against Turkey for shooting down one of its warplanes.

Shares fall to 4-1/2 month closing low on budget worries

REUTERS: Shares edged down and closed at their lowest in four-and-a-half months yesterday on worries earnings of financial firms would fall after the new budget proposals announced last week were implemented.

New York reassures tourists after terror threat

AFP - New York is reassuring tourists that America’s biggest city is safe as it prepares to welcome more than five million visitors for the busy holiday season after the Paris attacks.

CSE team excels at the Great HR Quiz

The Colombo Stock Exchange won 1st place in the “Special” category at the Great HR Quiz, held at Galadari Hotel on the 13th November 2015.  With participation from 47 top companies around the country, the quiz team of the Colombo Stock Exchange placed 8th in the overall standings and emerged 

Some nations want total reboot of global trade talks: WTO chief

AFP - The World Trade Organization remains deeply divided over its flagship global trade pact ahead of a key conference in Nairobi, with some members suggesting negotiations should “start from scratch”, the WTO chief said this week.

S. Korea bans imports of French poultry

AFP - South Korea has imposed a ban on imports of French poultry and live birds after the European country reported a bird flu outbreak.

Ceylinco Life policyholders celebrate early wins at ‘Family Savari 9’

Ceylinco Life’s ‘Family Savari 9’ mega promotion is not over, but already, 265 policyholders and their families are celebrating the news that they have won places at next year’s tours to Singapore and Leisure World.

Unforgettable moments with HSBC Premier this season

With the holiday season approaching fast with its bevy of seasonal activities, HSBC Premier is keen to make this season one of joyful giving, where customers get to experience unforgettable moments with family and friends.

Etisalat to sponsor ‘Enrique Iglesias Live in Sri Lanka’ event

Etisalat Lanka is the official main sponsor of Sri Lanka’s biggest musical event, ‘Enrique Iglesias Live in Sri Lanka’. Enrique Iglesias, a Grammy award-winning Spanish/English artist deemed the ‘King of Latin Pop’, will be performing in Colombo on December 20, 2015, at CR&FC Grounds as part of his on-going world tour.

Samsung awards ‘60 Days of Happiness’ promo winners

Samsung Electronics in Sri Lanka recently concluded its ‘60 Days of Happiness’ celebrations and has now begun giving away daily and weekly prizes in the run-up to unveiling the grand-prize winner of the promotion. 

Tissot wins high at International Timing Competition

Tissot was awarded an exceptional four prizes at the International Timing Competition. It won the first prize for both the brand-new Chronograph – Enterprise category and for the Classic – Enterprise category for which it also

UTE delivers Cat excavators to govt.’s Climate Resilience Improve Project

United Tractor & Equipment (Pvt.) Ltd (UTE) recently delivered eight Hydraulic excavators of the Cat 312D2 series for Climate Resilience Improve Project (CRIP) of Sri Lanka’s Irrigation and Water Resources Management Ministry.

‘Do you believe in magic?’ ODEL asks with dazzling X’mas makeover

The magic of Christmas and the festive season made an early appearance at Sri Lanka’s favourite department store with ODEL’s annual Yuletide makeover transforming the Alexandra Place mansion in characteristically glamorous fashion. 

High five for Textured Jersey at NBE Awards

Textured Jersey Lanka PLC (TJ), the region’s largest textile manufacturer received high honours at the recently concluded National Business Excellence Awards 2015, the prestigious annual awards ceremony organised by the National Chamber of Commerce.  The Company competed with most of the top Corporates to become the Overall Silver Winner for the Night. 

GSK wins 4 National Business Excellence Awards for 2nd year running

GlaxoSmithKline’s (GSK’s) Sri Lanka operations, encompassing pharmaceuticals and consumer nutritionals, won four National Business Excellence Awards (NBEAs) at the 2015 edition of the apex awards event of the National Chamber of Commerce, including the overall runner-up award across all categories and sectors.

D. Samson & Sons partners with JLanka to install 300 kWp Solar PV system

As one of the largest retail networks in the country that provides footwear, accessories and apparel to the local customer, D. Samson & Sons (Pvt) Ltd which is the main marketing and distributing arm of the DSI Samson Group, believes in setting the trend when it comes to the latest positive developments like practicing environmentally-friendly business. 

India Sourcing Fair comes to Colombo in December

The first-ever India Sourcing Fair will be held from 8 – 12 December at the SLECC in Colombo. The event is organised by the India Trade Promotion Organisation (ITPO) - Public Sector Enterprise under the Ministry of Commerce, Government of India and supported by the Indian High Commission in Sri Lanka.

National Chamber to hold seminar on Fraud Detection

A seminar on “Fraud Detection in Your Business” will be held on 2nd December  from 3.00 to 5.00 p.m at the Chamber Auditorium 450 D R Wijewardene Mawatha Colombo-10. 

Peradeniya University to hold MBA Night 2015

MBA Association of University of Peradeniya is planning to host its annual calendar the “MBA Night” in grand style. An event that adds more colours to the MBA programme with the key focus being the reinforcement of the relationship among lecturers, alumnus and students in an entertaining manner. 

CCI to engage 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 will hold a special seminar on “Facts about the use of Asbestos – Chrysotile Cement Roofing” on the 1st of December  

Colombo Tea Auction quantities witness marginal dip this week

Quantities at the Colombo Tea Auction this week contracted marginally with the total offering having stood at 6.1 M/Kgs, a dip from 6.2 M/Kgs recorded the previous week.

Budget 2016 proposes elevated road from Cotta Road to Kaduwela

A new elevated road will be constructed from Cotta Road to Kaduwela, according to the Budget proposals which were not read out during the second reading of the Budget 2016 in parliament due to time constraints.

CSE to establish new company to act as Central Counterparty

The Colombo Stock Exchange (CSE) yesterday announced the proposed establishment of an institution to act as a Central Counterparty for all secondary market transactions on the CSE. 

Budget worries drag down shares

REUTERS:  Sri Lankan shares closed at their lowest in four-and-a-half months yesterday on worries earnings of financial firms would fall after the new budget proposals announced last week were implemented.

Bank of England, FCA approve BOC Chairman’s appointment

Bank of Ceylon Chairman Ronald C Perera’s appointment as the Chairman of Bank of Ceylon (UK) Ltd was approved by the Prudential Regulation Authority (PRA) of the Bank of England and the Financial Conduct Authority (FCA) of England.

Govt. to tax cash withdrawals

The national unity government’s maiden Budget has proposed to tax the people who withdraw their own money from the banks while measures are also being taken to confiscate the moneys lying in their accounts unless they operate their accounts from January 1, 2016.

Regaining EU GSP Plus maybe far from govt.’s claim: envoy

Regaining the General System of Preferences Plus (GSP Plus) facility from the European Union (EU) maybe farther away than the government has recently claimed, ...

UK’s Wilkins Group opens US $ 3mn eco-friendly retail packaging factory in Mawaramandiya

Wilkins Spence Sri Lanka, a subsidiary of The Wilkins Group UK, recently celebrated the opening of its state-of-the-art factory to produce retail packaging solutions in Mawaramandiya. 

China set to pledge more aid to Africa ahead of Xi’s trip

REUTERS:  China is set to announce new aid to African nations when President Xi Jinping visits Zimbabwe and South Africa next month, a senior Chinese official said yesterday.

Fitch assigns BBB- to Mercantile Investments but equity exposure high

Fitch Ratings Lanka has assigned the minimum investment grade rating, BBB- to the Ondaatje family-controlled finance company, Mercantile Investments & Finance PLC (MIF) with a ‘stable’ outlook.