Quantum fitness opens new branch in Bambalapitiya

Quantum Fitness opened its new branch at Bambalapitiya recently.

Marmite embarks on gastronomic adventure with ‘Noodle-Mite’

Hot on the heels of its recent launch of Chocolate-Mite, Unilever Sri Lanka takes the gastronomic adventure to another level with the launch of yet another innovation – Noodle-Mite.

UK’s Jubilee Debt Campaign says Sri Lanka in debt trap

A coalition of national organizations and local groups around the United Kingdom (UK) who call for the cancellation of unjust and unpayable debts of the poorest countries

Months of deflation ends; October consumer prices pick up 1.7%

Ending a three-month streak of falling prices, Sri Lanka’s general prices picked up by 1.7 percent in October 2015 from a year ago as a result of the increased food prices, the Census and Statistics Department data showed. 

ICTA gathers steam to push national digitisation agenda

Sri Lanka’s Information and Communication Technology Agency (ICTA) recently gave fresh assurance that the necessary infrastructure would be in place within reasonable timelines,...

Norway’s Central Bank invests in Sri Lankan equities

The Central Bank of Norway (Norges Bank) which operates the largest sovereign wealth fund in the world, has begun investing in equities in the Colombo Stock Exchange.

Central Bank finally issues directive on 90% LTV; but only till November 30

After much reluctance, the Central Bank last week issued a directive on the revised vehicle Loan-to-Value (LTV) ratio soon after the Finance Ministry released a formal statement on increasing the LTV up to 90 percent from the earlier 70 percent. 

End of China’s one-child policy unlikely to boost economy: analysts

AFP - China abandoned its decades-old one-child policy Thursday to confront a looming slump in the economy’s workforce that it is probably powerless to prevent, analysts say.

Yen, Japan equities rise as Japan cuts growth forecast

AFP - Japan’s central bank yesterday slashed its growth forecasts and put back an inflation timetable as the country’s economy stutters, but its decision to hold off any fresh stimulus sent the yen up and Tokyo stocks rallying.

Taiwan economy shrinks for first time in six years

AFP - Taiwan’s economy suffered its first quarterly shrinkage since the height of the global financial crisis, hit by worse-than-forecast exports as key trading partner China suffers a painful growth slowdown.

DPL records Rs.10 bn first half revenue

DPL Group turnover for the 1st half of the financial year was Rs. 10.9 billion, compared to Rs.15.1 billion for the same period of the previous year.  The Hand Protection sector contributed a modest Rs 6.18 billion to the Group’s top line, 

Oil prices retreat in Asia as rally fizzles

Oil prices declined in Asia yesterday as a midweek rally dissipated with no relief in sight to a global crude oversupply, analysts said. Prices surged on Wednesday driven by bargain-hunting and a below-forecast

China search giant Baidu sees lift from travel deal

AFP - Chinese search giant Baidu said Thursday it expects a new travel services partnership to help drive future revenue as the country’s middle class grows, after it reported better-than-expected third quarter earnings.

Pegasus Reef Hotel introduces “The Fishery” sea food restaurant

Pegasus Reef Beach hotel in Hendala launched its latest  sea food dining experience ‘The Fishery’ on October 17th. 

End of China’s one-child policy unlikely to boost economy: analysts

AFP - China abandoned its decades-old one-child policy Thursday to confront a looming slump in the economy’s workforce that it is probably powerless to prevent, analysts say. AFP - China abandoned its decades-old one-child policy Thursday to confront a looming slump in the economy’s workforce that it is probably powerless to prevent, analysts say. All couples will be allowed to have two children, China’s official Xinhua ne

Union Assurance commemorates World Children’s Day

Union Assurance (UA) is a company that is dedicated to the creation of healthy communities through its corporate social responsibility programmes. In the recent past, the company has been engaged in a number of programmes aimed at eliminating and raising awareness on,

Seylan Bank holds pirith ceremony 2015

An overnight pirith ceremony followed by heel danaya organised by Seylan Bank to evoke blessings on customers, staff of Seylan Bank and all Sri Lankans was held recently at Seylan Towers, Colombo 3.

SLIA adds architectural value to Jaffna school library building

It was decided to concentrate on social responsibility projects, specially in the Northern Peninsula during the 2015 Annual Sessions of Sri Lanka Institute of Architects (SLIA). A decision was taken to renovate a 100-year-old library building, which carries a significant architectural value, at the Vivekananda Vidyasalai in Manipay, Jaffna. 

eMarketingEye hosts Sri Lanka’s first-ever Online Marketing Hackathon

A unique event that exceeded expectations and provided a fun-filled day for participants and all involved, Sri Lanka’s first-ever Online Marketing Hackathon, hosted by eMarketingEye, took place recently. 

CBB Sixes 2015 - Supporting a worthy cause through a sporting extravaganza

The Council for Business with Britain (CBB) will be organising its annual triangular sports event (cricket, netball and badminton) for its members for the 15th consecutive year on October 31, 2015 at P Saravanamuttu Stadium (Oval). 

Toastmasters Int’l Joint Mid-Year Conference today

The Divisions C, F and J of District 82, Toastmasters International will be hosting its Joint Mid-Year Conference brining to gather Toastmasters from more than 40 Toastmasters Clubs to witness the much-anticipated divisional speech contests in the categories of humorous and evaluation speeches as well as a day of fellowship and networking.  

Kumar Sangakkara’s and Mahela Jayawardene’s ‘Live Events’ launched

Live Events, the first and only locally-based destination and events promotion company, made its mark in the corporate world recently, with a glitzy and glamorous trade launch attended by Sri Lanka’s political and corporate elite including the country’s

Fashion Bug honours little artists at Roo Siththam 2015

The awards ceremony and prize distribution of ‘Roo Siththam’, an all-island, annual, children’s art competition organised by Fashion Bug was held at the Bishop’s College Auditorium, as well as at the Hindu Cultural Centre in Kandy recently 

Abans and Singer to witness further improvement in leverage in 2016

Come 2016, Fitch Ratings expressed confidence in top retailing entities in the country, which include Singer Sri Lanka PLC and Abans PLC, showing further improvement in leverage.

Healthy consumer durables demand to spill over 2016: Fitch

The local retailing sphere received early greetings from Fitch Ratings as the agency expects a healthy demand environment to continue for consumer durables despite possible headwinds from depreciation in the rupee against major currencies and higher import tariffs.

Hemas Logistics expands laden container terminal operations

Hemas Logistics, a premier integrated logistics solutions provider, unveiled its second 45-ton top lift container handler to the laden container terminal fleet recently at an event held at the Hemas Container terminal in Welisara. 

Textured Jersey posts Rs. 468 mn 2Q net profit

The TJL Group which had successfully concluded the acquisitions of Quenby Lanka Private Ltd. (QBL), on 1st September 2015 completed its second takeover of Ocean India Private Ltd. (OCI), recorded a consolidated revenue of Rs. 4.0 billion with a net profit of Rs. 468 million for the quarter ending 30th September 2015.  

Japan’s largest bank BTMU to open office in Sri Lanka

Sri Lanka’s Board of Investments (BOI) yesterday said Japan’s Bank of Tokyo Mitsubishi UFG Ltd (BTMU) would be opening a representative office in Sri Lanka March next year to facilitate Japanese investments to the country.

Browns Capital acquires Saga Solar Power controlling stake

Browns Capital PLC announced that it has purchased a controlling stake of Saga Solar Power (Pvt) Ltd for Rs.407.06 million. Browns Capital has purchased 38.70 million shares in Saga Solar Power, amounting to a 50.1 percent ownership.

Indira Malwatte appointed first female EDB chief

Top export promotion officer Indira Malwatte assumed  duties as Export Development Board’s (EDB) Chairperson & CEO yesterday.  Malwatte took over from Bandula Egodage, who stepped on October 28 after a 29-month stint.