FM warns of funding cuts if zero budgeting ignored

Ministries not adhering to the zero-based budgeting concept will receive no funding in future budgets, Finance Minister Ravi Karunanayake said at a budget seminar organized by the Chartered Management Accountants yesterday.

Budget’s fiscal discipline facilitates CB’s monetary policy: Deputy Governor

The ambitious fiscal discipline observed in the 2016 Budget will allow the Central Bank to maintain an easy monetary policy, while facilitating private sector growth, a top official said.

Shares near one-week closing low; financial stocks lead

REUTERS - Sri Lankan shares closed at their lowest in nearly one week yesterday on worries earnings of financial firms would fall after the new budget proposals announced last week were implemented.

Government policy to slow small car sales

Fitch Ratings expects growth in sales of automobiles, mostly small cars, in Sri Lanka to slow in 2016 due to higher taxes and a weaker currency, which will increase prices of vehicles in the local currency.

CB keeps key policy rates unchanged

Central Bank kept interest rates unchanged to support growth and help counter the rupee’s fall to a record low.

Ceylon Chamber-CCPIT investment and trade forum conducts 400 B2B meetings

The Sri Lanka-China Investment and Trade Symposium jointly organised by the China Council for Promotion of International Trade Zhejiang, Zhejiang Chamber of International Commerce and Ceylon Chamber of Commerce (CCC) was held in Colombo on November 23.

Next NCC ‘Meet the Minister’ on December 3

Local Government and Provincial Councils Minister Faizer Mustapha will grace the National Chamber of Commerce (NCC) on Thursday, December 3, 2015 for an interactive session from 3:00 p.m. to 4:30 p.m., at the Chamber Auditorium and to meet the business community.

Ready to solve Kotte’s housing issue: Harsha

He is prepared to do everything possible to resolve the housing issue of the low-income earners in the Sri Jayewardenepura electorate, said External Affairs Deputy Minister Dr. Harsha de Silva during a ceremony held recently at the United National Party (UNP) office in Nawala.

Findmyfare.com partners with Kuwait Airways for exclusive offer

The national air carrier of the State of Kuwait has tied up with Findmyfare.com for an exclusive deal to offer an exciting package for the passengers travelling to London, Rome, Paris and New York. 

Qatar Executive receives EASA’s third-country operator safety certificate

Qatar Executive, Qatar Airways’ corporate jet division, is the first ‘Business Aviation Operator’ in the Middle East and one of first worldwide to be awarded the European Aviation Safety Agency’s (EASA) third-country operator (TCO) safety certificate.

Mihin Lanka updates agents on latest product developments

?Mihin Lanka recently conducted a comprehensive presentation for its agents to highlight the airline’s updated product and service offerings. 

Emirates introduces new generation in-flight entertainment system

Emirates has introduced a new generation in-flight entertainment (IFE) system reaffirming its commitment to continual product enhancement.

Eden Resort & Spa honoured with ISO22000:2005 certification

?The Eden Resort & Spa was recently awarded with the prestigious ISO 22000:2005 certification in relation to food safety and food quality standards. 

Etihad opens new state-of-the-art Crew Briefing Centre

?Etihad Airways has officially opened a new state-of-the-art Crew Briefing Centre (CBC) at its hub in Abu Dhabi, capital of the United Arab Emirates.

Fitch maintains negative outlook for telcos over tax uncertainties

Fitch Ratings has maintained a negative outlook on Sri Lanka’s telecom sector based on the uncertainty over the proposals to increase taxes by the government.

Sri Lanka introduces more inclusive inflation measurement

Sri Lanka’s inflation in the month of October measured by the new National Consumer Price Index (NCPI) was recorded at 3 percent, accelerating from 1.9 percent in September, the Department of Census and Statistics (DCS) said yesterday. 

US firm buys 10% stake in Bogala Graphite

?German-based Graphit Kropfmuhl GmbH, which owned 90.33 percent of the shares in Bogala Graphite Lanka, yesterday divested a 10.33 percent stake to US-based firm Alterna GK LLC.

Abans’ LG sound bars further audio visual entertainment

Abans brings you the best and the widest range of LG sound bars in Sri Lanka at the most affordable prices. Further, LG sound bars come with a range of new and sophisticated features...

Mindshare, Unilever awarded at MMA Smarties APAC 2015

Sunlight, Unilever and Mindshare Sri Lanka were recognized at the MMA Smarties APAC 2015 Awards with a Bronze in the Brand Awareness category for the Sunlight Lights up my Nation Campaign.

Over 100 companies take part in maiden China Products Exhibition

?More than 100 companies with 15 product verticals across industry sectors were showcased at the first-ever China Products Exhibition held recently at the Sri Lanka Exhibition & Convention Centre (SLECC).

MTD Walkers diversifies into marine engineering

?Integrated infrastructure and engineering solutions provider MTD Walkers PLC has secured the leasehold rights of Mutwal Harbour and is to launch Walkers Colombo Shipyard (Pvt.) Ltd. 

Attract 1% annual Chinese tourism, FDIs for Lanka’s rapid growth: envoy

Sri Lanka should strive to attract one percent of the annual Chinese tourism and foreign direct investment (FDI) outflows for rapid development of the country, Chinese Ambassador to Sri Lanka Yi Xianliang said.

CB seen holding rates steady to support economy

?REUTERS: The Central Bank is expected to keep its key policy interest rates unchanged at record lows for the seventh straight month today, a Reuters poll found, as policymakers remain focused on spurring economic growth amid global headwinds.

Sri Lanka targets a jump in 2016 revenues to finance public investment

REUTERS:  Sri Lanka doubled a nation-building tax and adjusted the corporate tax structure in its budget for 2016 on Friday to finance greater government spending in health and education, and accelerate the pace of economic expansion.

Ceylinco Life deploys ‘mPOS’ for ‘anytime anywhere’ premium payments

A new level of convenience has been offered to policyholders of Ceylinco Life to pay their insurance premiums, following the deployment by the life insurance leader of mobile Point-of-Sale (mPOS) devices via sales personnel in the field.

SLID explores financial stewardship obligations of board to shareowners

The Sri Lanka Institute of Directors (SLID) is conducting a two-day workshop on Financial Stewardship and Accountability scheduled for the 26th& 27th November 2015 from 8.30am to 5.00pm.  

Absolute Ayurveda hosts Detox Programme

?The Absolute Ayurveda Natural Healing Clinic by Spa Ceylon is hosting a Detox Programme. 

Philips Airfryer keeps people in prime health

Can you think of anything better that a working person needs to keep in good health than a Philips Airfryer that cooks tasty favourite foods and even complete meals without oil? 

Hemas Hospitals relaunches ‘Maathru’ maternity package

In celebration of 10,000 births at their hospitals and to give the best possible start to life, Hemas Hospitals a market leader in healthcare, has re-enhanced their existing ‘Maathru’ maternity package for expectant mothers. 

Hemas Hospitals partners Credence Genomics to offer cutting-edge genetic diagnostics

Hemas Hospital laboratory services which believe in cutting edge technology and has the largest laboratory network in Sri Lanka, entered into a collaboration with Credence Genomics, the pioneer in genomic research and diagnostics in Sri Lanka.