SLASSPA head meets Defence Secretary

Sri Lanka Security Service Providers Association (SLASSPA) President Major Tissa Aluwihare paid a courtesy call on Defence Ministry Secretary Karunasena Hettiarachchi at his office yesterday. 

BoI hosts delegation of Japanese multinationals from Kansai

The Board of Investment (BoI) hosted a delegation from the Kansai region of Japan, which consisted of many Japanese multinational companies.

CIMA seminar on recent amendments to tax statutes on Nov. 5

CIMA Sri Lanka will be conducting a seminar on recent amendments to the tax statutes on November 5 from 8:30 a.m. to 12:30 p.m., at the CIMA auditorium. The presentation will be delivered by KPMG Tax Attorney Suresh R.I. Perera. 

Court rejects all 15 interim orders against Ceylinco Insurance sought by shareholder

In a landmark case, in which, shareholders’ Global Rubber Industries (Pvt.) Ltd, Prabash Subasinghe and Global Sea Foods (Pvt.) Ltd sought 15 interim orders against Ceylinco Insurance Company PLC, were all turned down by the Commercial High Court.   

D P Jayasinghe opens modern building complex at Rajagiriya

?The new building complex of D P Jayasinghe Group of Companies was ceremonially opened by President Maithripala Sirisena recently. 

What does the future hold for Sri Lankan real estate market?

?Real estate experts from across Sri Lanka gathered this week, to discuss the future of the country’s real estate market. 

Lanka Aluminium expands to Nittambuwa

Lanka Aluminium Industries PLC – Sri Lanka’s leading manufacturer and distributor of state-of-the-art aluminium fittings and solutions – opened their showroom and service center in the town of Nittambuwa recently. 

MAPS International enters electrical appliances market

MAPS International, the company that dealt in vehicle tyres, tyre rebuilding and building materials commenced importing and distributing household electrical appliances recently. 

DHL Sri Lanka’s Global Volunteer Day programme helps the needy

DHL Sri Lanka, part of Deutsche Post DHL Group, the world’s leading postal and logistics group, commemorated Global Volunteer Day 2015 with employees participating in a series of activities aimed at benefitting the local communities. 

Seylan 3Q profits edge down over gilt-edged losses

The losses made on investments in government securities and related financial assets narrowed the group net profits of Seylan Bank...

CSE promotes Sri Lankan capital market in Europe

?The Colombo Stock Exchange (CSE) will host “Invest Sri Lanka” Investor Forums in Zurich and London on 28th and 29th of October. 

Cairn India officially confirms exiting Lankan oil explorations

?Announcing its second quarter results to the Bombay Stock Exchange, Cairn India officially expressed its intention to exit Sri Lankan oil exploration activities. 

Janashakthi wraps up acquisition of AIA’s Lankan general insurance business

Janashakthi Insurance PLC made a payment of Rs.3.2 billion to AIA Insurance Lanka PLC to seal off its acquisition of AIA General Insurance Lanka Limited on October 23, 2015. 

Fairway Holdings opens Urban Homes in Koswatta

?Fairway Holdings, a name synonymous for quality in the construction industry embarks upon building cost-effective apartments for the emerging middle class in the urban areas of Colombo. 

Eagle Logistics marks 10 years in business

?Eagle Logistics celebrates its 10th Anniversary today with religious activities at their corporate office 281, R. A. De Mel Mawatha, Colombo-03. 

Service Industries and Almar Group enter footwear manufacturing joint venture

?Pakistan’s Service Industries and Sri Lanka’s Almar Group announced a Joint Venture for the manufacture and export of high end shoes. 

EAP Broadcasting Company re-launches Ran FM as RanOne FM

The EAP Broadcasting Company (EBC), part of EAP Holdings PLC recently re-launched Ran FM to cater to a wider audience of listeners across Sri Lanka. 

Cornitos Nacho Crisps named Best Food and Grocery Brand of the year

?Cornitos Nacho Crisps, known worldwide as the provider of snack food was recently named Best Food and Grocery Brand of the year at the Singapore CMO Asia Excellence Awards. 

Budry Electronics introduces weighing scales for jewellery, pawning trades

?Budry scales, the trusted name in weighing has dominated the weighing scale industry in Sri Lanka for more than 50 years with a vast range of products that lead in quality and ace the standard requirements of the department of measurements, units, standards and services.

India’s Sandal Lands upbeat on Sri Lankan real estate; mulls US $ 25mn FDI

Emboldened by the strong growth prospects of the Sri Lankan real estate market, India-based regional property developer, Sandal Lands (Pvt.) Ltd, has announced plans...

Japan’s second largest industrial region in trade talks with Sri Lanka

?In the backdrop of Lankan Prime Minister Ranil Wickremesinghe’s recent visit to Japan, Sri Lanka received its first-ever trade delegation from Kansai, Japan’s second-largest industrial and financial region featuring 20th largest gross domestic product (GDP) in the world.

Biomass Supplies earns Roundtable on Sustainable Biomaterials certification

?Biomass Supplies (Pvt.) Ltd, a company based in Sri Lanka, earned the Roundtable on Sustainable Biomaterials (RSB) certification for biomass produced from branches pruned from live fences of Gliricidia trees.

Govt. might need to go for new IMF package before crisis: economist

Sri Lanka may need to negotiate another International Monetary Fund (IMF) bail out package to increase confidence in the country and to ease any balance of payment issues that may arise in the future, a leading economist said.

ECB speculation sends Asia stocks surging, euro sinks

The European Central Bank’s hint at fresh stimulus measures for the stuttering eurozone economy sent Asia stock markets and emerging currencies surging yesterday, while the euro came under further selling pressure.

Russia to open $5 bn Iran credit line: Tehran

AFP - Russia plans to open a US$ 5 billion credit line for Iran to help finance infrastructure projects in the country, officials from both countries said Thursday during a visit by Moscow’s energy minister, Alexander Novak.

Crude ticks higher ahead of key data

AFP - Oil prices rose on bargain-buying in Asia yesterday but analysts warned of fresh selling pressure as the United States and the eurozone prepare to release key manufacturing indicators later in the day.

Oman Air to commence double daily flights from Colombo to Muscat

Oman Air will start double daily flight operations from Colombo to Muscat from 28 October 2015 onwards.  The national carrier of the Sultanate of Oman will now offer a total of 14 flights per week and two flights per day between the two countries. 

Pakistan’s Service Industries and Almar Group form JV for high-end footwear production

Pakistan’s leading conglomerate, Service Industries and Sri Lanka’s Almar Group announced a joint venture for the manufacture and export of high end shoes recently. 

Eurozone business activity strengthens in October

AFP - Eurozone economic activity accelerated in October, a key business survey showed yesterday, in one of the best performances in four years which included a notable improvement in employment.

Volvo salutes higher profits on rising sales

REUTERS - The Sri Lankan rupee traded steady yesterday despite dollar demand from importers as banks did not trade the greenback above 141.05, which is seen as the central bank’s desired level, dealers said.