China to restart IPOs as market stabilises: Xinhua

AFP - China will restart initial public offerings, state-run media reported yesterday, after suspending them in July as part of a rescue package to rein in a rout that wiped trillions of dollars from market capitalisations.

YBSL launches ‘Y CLUB’ to connect young entrepreneurs

The Youth Business Sri Lanka, an arm of the Ceylon Chamber of Commerce, recently launched the ‘Y CLUB’, providing young entrepreneurs a platform to connect, network, share ideas and prosper together.

Rupee tad weaker on importer dlr demand; stocks up

REUTERS - The Sri Lankan rupee edged down yesterday and traded at a record low due to importer dollar demand, while investors were trying to gauge the prime minister’s economic policy statement, dealers said.

Japan, US lead economic rule-making under TPP: Japan PM

AFP - Prime Minister Shinzo Abe yesterday hailed a huge Pacific Rim free-trade deal, saying it showcased a bid by Japan and the United States to set rules for the global economy.

Migrant crisis poses ‘deep’ financial challenge: EIB chief

AFP - The head of the European Investment Bank warned yesterday about what he termed the “deep” financial challenges posed by Europe’s biggest refugee and migrant crisis since World War II.

Arpico Mattress to offer 40 ‘Weekend Couple’ promo winners luxurious holidays

Forty lucky couples are packing their trendiest suitcases for a luxurious holiday courtesy Arpico Mattress. These couples are the winners of Arpico Mattress ‘Weekend Couple’ contest which ran from June this year.

Canadian High Commission-Prima organise Master Class for Lankan culinary, baking students

The High Commission of Canada in Sri Lanka in collaboration with the Prima group organised a Master Class for Sri Lankan culinary and baking students. Baking under the guidance of Chef Paul Kittisou, 

Laugfs ‘Pehesara’ nurtures talent

Laugfs recently launched the ‘Pehesara’ art competition, for the children of employees from across the Laugfs group. The competition was organised by Laugfs Corporate HR team as a platform to strengthen engagement with staff and their families by showcasing budding talent of youngsters.

Etisalat customers score at LIVE Rugby Screening at CR&FC

In its continued commitment towards strengthening sports in the nation, Etisalat powered the YES 101 LIVE Screening of the Rugby World Cup at the CR&FC Grounds and extended over 1000 exclusive invitations valid for all screenings through the Etisalat Epic Rewards Loyalty Programme.

Video: Alumex opens flagship ‘LUMIN Concepts’ store in Nawala

?Alumex PLC, the manufacturer of high quality, innovative Aluminium profiles for window and door systems, opened its flagship ‘LUMIN Concepts’ display centre at Nawala Road, Nawala. 

Prime Minister spells out third generation economic reforms

On the 08th of January, the people of Sri Lanka elected Maithripala Sirisena as the President in pursuit of much needed change. This was confirmed at the Parliamentary Election held in August.

Prime Minister’s policy statement renews social market economy hopes

Prime Minister Ranil Wickremesinghe yesterday spelt out a detailed policy framework—which he termed “3rd Generation Economic Reforms,” following the economic reforms brought in by late Presidents JR Jaywardena in 1970s and Ranasinghe Premedasa in late 1980s

Sri Lanka’s Banking sector 3Q performance hit by gilt edged losses: report

Banking sector performance for the September quarter (3Q15) is expected to be hampered by losses made on their investments in the government securities, as the treasury yields saw edging up, according to a research note by an equity brokerage.  

HNB raises US$ 50mn from Proparco

?Sri Lanka’s second largest private bank, Hatton National Bank PLC (HNB) recently entered into an agreement with Proparco, the private sector financing arm of Agence Francaise de Development, (AFD)  to borrow US $ 50 million through a five-year senior long term loan. 

Aitken Spence expands Fiji operations

?Blue chip conglomerate Aitken Spence PLC has acquired 20 percent equity stake in the Fijian government’s Fiji Ports Corporation Ltd (FPCL) which manages all ports in the pacific nation, for FJ$ 34.6 million (approximately Rs.2.3 billion).

Automobile industry expects more financial packages to push sales

The local automobile space is currently operating in an uncertain environment, but the industry is optimistic the financial landscape will conceptualize more solutions that would help push sales, online vehicle retailer Carmudi said.

Aitken Spence launches Turyaa by Heritance at World Travel Market

?Leading regional hospitality operator Aitken Spence Hotels announced the launch of its latest brand, Turyaa by Heritance, at the World Travel Market [WTM] in London.

Nestlé Lanka Jan – Sept net profit up 9.8% to Rs.3.5bn; 3Q net profit hits Rs.1bn

?Nestlé Lanka PLC posted revenue of Rs.27.1 billion for the nine months period ending 30 September 2015, recording a growth of 8.6 percent year-on-year (yoy). 

Govt. will curb price distortion in real estate market: UDA DG

The upper classes are causing an unnecessary distortion of real estate prices in Colombo, and the government will intervene to bring the market into equilibrium, the Urban Development Authority (UDA) Director General said.

New Zealand business delegates meet local corporate heads

Innovative New Zealand businesses who visited Colombo this week to continue forging business and trade links with Sri Lanka, met with Sri Lankan business heads at a reception hosted by High Commissioner to India, Sri Lanka, Bangladesh and Nepal Grahame Morton, at Taj Samudra.

Big names needed to bring tourists: Aitken Spence MD

Sustained promotion and consistent branding of Sri Lanka as a holiday destination are essential if the country is to overhaul its tourism industry, Rajan Brito, the Deputy Chairman and Managing Director of the conglomerate Aitken Spence, has said.

Ship suppliers urge govt. support, new mechanism for industry

The Sri Lanka Ship Suppliers’ Association recently urged assistance and to introduce a new mechanism for the industry from the concerned government authorities and institutions considering the amount of foreign exchange brought to the country by them.

High-powered Chinese biz delegation to visit SL

A 77-member high-powered business and government delegation from China’s Zhejiang Province will arrive in the country in mid-November hunting for business opportunities, including opportunities for cross border mergers and acquisitions (M&A).

Budget 2016 will make life easy for all: Ravi Karunanayake

Finance Minister Ravi Karunanayake said that the budget 2016 will make life very easy for all and everyone will be happy, especially the fixed wage earners.   The minister said the government has no intention to put burden on the wage earners.

Higher domestic sales boost Piramal Glass 2Q profit

Glass bottle and container manufacturer Piramal Glass Ceylon PLc, a unit India’s Piramal group saw its net profit for the September quarter (2Q16) improving to Rs.140.5 million from 83.6 million year-on-year (yoy), ...

Ronnie Peiris named ‘CIMA Business Icon 2014’

?CIMA recognized Ronnie Peiris, Group Finance Director and Executive Director on the Board of John Keells Holding PLC (JKH), as CIMA Business Icon 2014.    

Export decline reasons ‘many and varied’: EDB Chief

The country’s exports have come down due to a multitude of reason and not due to a shortcoming of the Exports Development Board, the agency’s new Chairperson said.

Lagna Wasanawa and Super Ball offer more winning chances

?The Development Lotteries Board listens to customer needs and introduces new prize structures that are worth millions and billions of rupees.

MAS unveils country’s largest rooftop solar plant in fabric park

?At the launch of its 1-megawatt rooftop solar solution, the apparel and fabrics giant MAS says the greatest, biggest or best isn’t good enough. 

Koala unveils new expanded showroom in Green Path

Koala (Pvt) Ltd recently unveiled the first phase of its new expanded flagship showroom located at Green Path to special invitees including interior designers, architects and select customers.