Fonterra Brands Sri Lanka collects record milk volumes from Sri Lankan dairy farmers

?Fonterra Brands Sri Lanka continues to grow its local milk supply, achieving record collection in September with a 48 per cent increase on the same period last year. 

Pakistani Commerce Minister in town with biz delegation

The Pakistani business delegation, accompanied by the visiting Pakistani Commerce Minister Khurram Dastgir Khan, is looking forward to meeting the local counterparts at Sri Lanka’s Export Development Board (EDB) auditorium. 

Ceylon Chamber facilitates Kiwi biz delegation

The Ceylon Chamber of Commerce (CCC) facilitated business meetings for the visiting members of a delegation from New Zealand Trade and Enterprise (NZTE).

Pizza Hut Union Place reopens with whole new look

Pizza Hut’s flagship restaurant at Union Place has been refurbished to bring an all new dining experience. The newly revamped restaurant has reopened its doors to bring customers the well loved flavours that Pizza Hut is known...

Harsha meets Bangladesh High Commissioner

Foreign Affairs Deputy Minister Dr. Harsha de Silva met Bangladesh High Commissioner in Colombo Tarik Ahsan at the Foreign Affairs Ministry yesterday and discussed on further strengthening political,....

President invites SLEA to join with govt. in policy making

?Noting that Sri Lanka had the capability and the knowledge, President Maithripala Sirisena urged the Sri Lanka Economic Association to actively participate and build a close relationship with the government for policy development. 

Access Engineering completes construction of Kandana Water Treatment Plant Extension

?The extension work of Kandana Water Treatment Plant at Kandana, Horana was completed recently providing the southern areas of Greater Colombo, an improved potable water supply service that is able to meet the expected demand in the years to come. 

Sri Lanka low interest bubble seen bursting

Sri Lanka’s low interest bubble appears to have begun bursting with the country’s commercial banks seen steadily increasing their interest rates on fixed deposits (FDs). 

Access Engineering 2Q net profit up 6.8% to Rs.683.7mn

Diversified Access Engineering PLC saw its net profit for the September quarter (2Q16) improving 6.8 percent year-on-year (YoY) to Rs.683.7 million, the interim financial accounts released to the Colombo Stock Exchange showed. 

Lanka IOC gets new Chairman

?Balwinder Singh Cath, Director Marketing of the oil major Indian Oil Corporation Limited, has been appointed as the Chairman of Lanka IOC PLC (LIOC) with effect from November 2, 2015, replacing Indrajit Bose.

Thursday’s Ease of Doing Business Forum postponed

As the funeral of Ven. Maduluwawe Sobitha Thera is scheduled to be held on November 12 with state honours, the Finance Ministry yesterday said the scheduled meeting of the ‘Ease of Doing Business Forum’ will not be held on that day. 

Dunamis Capital to raise Rs.1bn via debentures

Dunamis Capital PLC, a Schaffter family company with interests in financial services, property development and manufacturing, said it was raising Rs.1 billion through a listed debenture issue.

Over 100 affiliates awarded at ACCA prize winners ceremony

The Association of Chartered Certified Accountants (ACCA), which is the global body for professional accountants, recently held its prizewinners and affiliates awards ceremony at the Cinnamon Grand Colombo...

CA Sri Lanka honours James Selvanathan Mather with Lifetime Achievement Award

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) paid tribute to eminent Chartered Accountant, James Selvanathan Mather by honouring him with the Lifetime Achievement Award for 2015...

Cash-strapped frontier economies rush to bond markets in tight window

REUTERS: Dollar bond sales by smaller, junk-rated emerging countries have sprung back to life in October following a three-month hiatus as governments rush to raise much-needed cash before U.S. interest rates start rising.

ICCSL calls for new economic policies to boost economy, FDIs

The Chairman of the International Chamber of Commerce Sri Lanka (ICCSL) Keerthi Gunawardane said it was high time for the introduction of new economic policies to boost the country’s economy and lure foreign investments.

Higher disposable income boosts CTC September profits

A significant portion of the higher disposable income generated by the measures in the budgets presented by the new regime so far this year appears to have gone for the consumption of tobacco products as the country’s tobacco monopol

HDFC to raise Rs.4 bn via debenture issue

?The Housing Development Finance Corporation Bank of Sri Lanka (HDFC) is to raise Rs.4 billion from a listed debenture issue, the company said in a stock exchange filing. 

Ceramic manufacturing industry higher profits clouded by policy uncertainty

Despite its positive performance for the latest quarter, the country’s ceramic manufacturing industry is in for an uncertain future due to policy considerations.

AIA 3Q net hit by higher general insurance claims but life biz up

The Sri Lankan unit of the third most valuable Asia-based insurer, AIA Insurance Lanka PLC (AIA) saw its net profits for the quarter ended September 30

Super Gains Tax ends; but payments compulsory this year

Companies which were liable to pay the morally ambiguous Super Gain Tax (SGT) are still required to pay this year, despite Prime Minister Ranil Wickremesinghe called to discontinue the tax during his medium-term economic policy speech last week.

Comtrust Equity Fund up 9.6% in 1H16, outperforms ASPI

Comtrust Equity Fund, a balanced fund investing in both equity and fixed income, rose 9.6 percent for the six months ended 30 September 2015 (1H16), recording an over performance of 6.2 percent vs.

Hutch launches SmartShare data service

Hutch, one of Sri Lanka’s fastest growing 3G networks, introduced “Hutch SmartShare”, a breakthrough innovation that allows Hutch subscribers to maintain just one common data balance for all their  smart devices. 

Christmas Gifts Festival at Abans will save you so much this year

Every year around this time Abans, the market leader in Sri Lanka for the world’s best brands of home appliances, launch their eagerly awaited Christmas Sale. 

All Ceylon Bharatha Association holds 45th AGM

The 45th Annual General Meeting of the All Ceylon Bharatha Association was held in their own premises at Brassfounder’s Street, Colombo 11 recently in the presence of members.

Sari Connection connects communities through recycled saris

Sari Connection – a subsidiary under PARCIC has a unique, carefully handcrafted product range made out of upcycled saris. Meeting with aspirations of seamstresses from marginalised communities such as Jaffna and Mullaitivu,...

Admo Steel awarded Rs.100 mn Ashok Leyland vehicle yard project

Admo Steel Building and Construction Division of  Vinseth Engineering Pvt. Ltd., was recently awarded a landmark project contract worth Rs.100 million by Lanka Ashok Leyland, for construction of its new Vehicle Yard (100,000 sq. ft.) at the Panagoda Industrial Zone. 

ComBank launches Green Development Loans to support sustainability agenda

The Commercial Bank of Ceylon has announced the launch of Green Development Loans, throwing its weight behind efforts by businesses in Sri Lanka to make their operations more eco-friendly. 

Cabinet approves proposal to allocate Rs. 1 bn to purchase auction tea

The Cabinet of Ministers yesterday approved a proposal made by Plantation Industries Minister Naveen Dissanayake to allocate Rs. 1 billion to purchase 1kg of quality tea for Rs. 430, from the Tea Board auction, in order to stabalise tea prices. 

Govt. should invest sufficiently to build HR capacity in public sector: Dinesh Weerakkody

Chairman of National Human Resource Development Council, Dinesh Weerakkody speaking at the Depart of Pensions Public forum yesterday said the government should invest sufficiently to build HR capacity in the public sector, because it is the public service that helps the government of the day to develop and deliver its policies as effectively as possible.