Prime Minister’s much-awaited policy statement today

?Prime Minister Ranil Wickremesinghe’s special policy statement in Parliament today on the new government’s medium-term economic framework is likely to deal with several important issues which could directly impact the country’s businesses and financial sector.

Cheaper solutions to reduce traffic in Colombo not “sexy enough” for govt.: expert

An efficient Bus Rapid Transit (BRT) system with an investment of just Rs.173 billion can comfortably cater towards the public transportation needs of Colombo and reduce congestion, an expert said.

Govt. must transition towards transparency centred on ICT: Eran

?The government must transition towards a transparent government centred on information communication technology (ICT), the Public Enterprise Development Deputy Minister said.

October tourist arrivals to Sri Lanka up 8%

Sri Lanka’s tourist arrivals rose 8.8 percent year-on-year (YoY) in October despite declines from a few key source markets. According to the latest statistics released by the Sri Lanka Tourism Development Authority (SLTDA)

IMF says Sri Lanka signing up to their standards a “major step forward”

?Sri Lanka’s subscription to International Monetary Fund’s (IMF) Special Data Dissemination Standard (SDDS) is a “major step forward” for official economic statistics in the country, the IMF said in a statement. 

Multilac trade booth at Canton Fair draws huge crowds

Multilac had the Sri Lankan flag flying high at the 118th China Canton Fair held from October 15th to 19th. 

Globally renowned brands Montblanc and Baume & Mercier available at TURRET 

‘TURRET’, a designer store catering to brand conscious clientele for luxury watches, gems and jewellery, is the ‘authorized retailer’ in Sri Lanka for such globally renowned brands as Montblanc,...

Elephant House launches F5 isotonic sports drink

Elephant House recently debuted F5, its new isotonic sports drink at the YES FM Rugby World Cup Finale Screening at CR&FC on the evening of October 31.

WISH takes Sri Lanka to top spot in audiology

Sri Lanka’s premier speech and hearing care facility Wickramarachchi Institute of Speech and Hearing (WISH) in another pioneering venture has taken Sri Lanka to the top spot in audiology related services in the world. 

Godrej launches Good Knight Fast Card

Showing its commitment and responsibility towards a dengue-free nation, Godrej, a leading FMCG company, launched a paper format mosquito repellent, ‘Good Knight Fast Card’, in Colombo recently.

Fairway Holdings launches latest project in Koswatta

Fairway Holdings, a name synonymous with quality luxury apartment developments, launched their sixth large scale apartment project, in Koswatta, Battaramulla recently.

Fun-filled weekend for MRF tyre distributors

David Pieris Motor Company Limited recently felicitated the distributors of its MRF motorcycle and three-wheeler tyres and their family members at the annual get-together held at the Sri Lanka Karting Circuit, Bandaragama.

Overseas Realty reaches Rs.2.2bn profit end-3Q2015

Overseas Realty (Ceylon) PLC recorded a group net profit of Rs.2.2 billion for the nine months ended September 30, 2015, a decrease of 12 percent over the corresponding period of 2014. 

Pakistan Commerce Minister in town next week

As historic trade partners Sri Lanka and Pakistan positioned for a US $ 1 billion trade volume, Pakistani Commerce Minister is now scheduled to arrive in Colombo to take the process forward and the first business interaction forum between both countries is to be held next week in Colombo.

Noritake President pays courtesy call to President

Noritake Co., Ltd, Nagoya, Japan President Tadashi Ogura, who arrived in Sri Lanka recently, paid a courtesy call to President Maithripala Sirisena accompanied by Chairman Y. Mabuchi,

New Zealand looks to strengthen biz ties with Sri Lanka

?Innovative New Zealand businesses are visiting Colombo this week to continue forging business and trade links with Sri Lanka. 

ISIS activities in Middle East have affected Lankan tea industry: PM

The activities of ISIS in the Middle East had affected Sri Lanka’s tea industry, Prime Minister Ranil Wickremasinghe informed Parliament yesterday.

Sunshine Holdings net profit up by 8%

Diversified conglomerate Sunshine Holdings posted a Rs.171.1 million net profit for 2Q16, an 8 percent growth Year-on-Year (YOY), largely due to improved performance in its healthcare and FMCG segments.

Business chamber expresses deep concern over police brutality on protesting students

?The country’s apex business chamber, Ceylon Chamber of Commerce (CCC) expressed deep concern over the police brutality on HNDA students which took place last week.

CEB continues to buy private sector power at high rates

In a continuance of the government subsidizing private sector profits, Ceylon Electricity Board (CEB) is continuing to purchase electricity at higher rates as usual from private mini-hydro power generating companies.

JKH 2Q16 profit up 31% to Rs.3.47bn

Sri Lanka’s premier blue chip John Keells Holdings PLC (JKH) saw its net profit for the September quarter (2Q16) increasing 31 percent year-on-year (yoy) to Rs.3.47 billion amid improved performance of the group’s transportation and consumer food & retail operations. 

Mandatory public float requirements: Have they done more harm than good?

Four companies on the Colombo Stock Exchange (CSE) have already  delisted and several more are considering taking the same route following the introduction of the new listing rules to promote a more vibrant and liquid market.

US economic recovery, growing Indian market favourable for Sri Lanka: Deputy Governor

The recovery of the US economy and India’s growth prospects are bright spots for the Sri Lankan economy, which is expected to grow above 5.5 percent during the year 2015, said Dr. Nandalal Weerasinghe, Deputy Governor of the Central Bank of Sri Lanka.

Ease of Doing Business Forum postponed to November 12

The fifth forum of the Ease of Doing Business, organized by the Ministry of Finance will be held at 2.00 pm on November 12 at the Miloda Centre in Colombo. 

China top foreign investors in Sri Lanka real estate sector: Online research

China, India and Hong Kong are the top three countries currently investing in the Sri Lankan real estate market, according to new research from online real estate platform, Lamudi Sri Lanka.

NCE presents Special Awards for projects that boost socio economic development

The Council of the National Chamber of Exporters presented Special Awards this year related to projects implemented by the Chamber which has a bearing on socio economic development in addition to exports.

Sri Lankan wins Stevie Award for first time

 Sri Lankan-born entrepreneur Susantha Shan Halamba, CEO of Texas-based Ceyhinz Link International, Inc., won the Gold Stevie Award under the category of Executive of the Year (management award category-All Other Industries). 

CIMA Regional Head visits CA Sri Lanka

The Regional Director for Asia Pacific of the Chartered Institute of Management Accountants (CIMA), Irene Teng paid a courtesy call at the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) recently. 

Tissa Seneviratne elected new CNCI Chairman

The Ceylon National Chamber of Industries (CNCI) had its 54th Annual General Meeting (AGM) on 23rd October  at Hotel Taj Samudra, Colombo.  

ICCSL to hold AGM, mark diamond jubilee tomorrow

The Annual General Meeting and 60th anniversary celebrations of the International Chamber of Commerce Sri Lanka will take place at Hotel Galadari Colombo on the 05th November.