WB support for Sri Lanka’s renewable energy drive

In an effort to push the nation towards green financing, the World Bank (WB) yesterday pledged its support in allowing Sri Lanka to achieve the 20 percent non-conventional renewable energy (NCRE) target by 2020.

Govt. urged to set up independent regulator to oversee pension system

A leading researcher called on the government to establish an independent regulatory body to oversee the country’s pension system.

Founding investor Dilith Jayaweera to head Derana

The board of directors of Derana has appointed one of the founder investors, Dilith Jayaweera as the Chairman and Managing Director of TV Derana,...

Rupee falls on importer dollar demand

REUTERS: The Sri Lankan rupee ended weaker yesterday due to demand for the greenback from importers and weak exporter dollar sales, dealers said. Dealers said dollar sales by a bank in the latter part of the day prevented a sharp fall in the local currency.

Tile sales strong but industry risks losing protection: report

The present construction boom and the thrust on exports will result in strong tile sales, but the local ceramic industry led by Royal Ceramics PLC faces the risk of losing the protection against imports, an equities brokerage report noted.

Wasantha Gunadasa appointed as Blue Diamonds CEO

Gem and jewellery industry veteran Wasantha Chandrakumara Gunadasa has been appointed as the Chief Executive Officer of leading diamond exporter Blue Diamonds Jewellery Worldwide PLC.

French Embassy opens consulate in Kandy

French Ambassador Jean-Marin Schuh is scheduled to declare open the French Consulate in Kandy today on the invitation of the recently appointed Honorary Consul for France in the Kandy District.

VIDEO : Unilever introduces Chocolate-Mite

Following the world’s gastronomic trend, Unilever in partnership with Sri Lanka’s celebrity chocolatier Gerard Mendis introduced ‘Chocolate-Mite’ for the first time in Sri Lanka recently.

Next Jaffna International Trade Fair in January 2016

The Jaffna International Trade Fair (JITF), the most comprehensive multi product exhibition in the North, will be held for the seventh consecutive year from January 29 to 31, 2016 at the Municipal Grounds in Jaffna.

Cairn to exit Lankan oil explorations end of this month

?Oil exploration company, Cairn India, a unit of Indian business tycoon Anil Agarwal’s Vedanta group, is to relinquish its exploration rights in Sri Lanka’s Mannar basin end of this month. 

Stocks mark 2-week closing low; budget, corporate earnings eyed

REUTERS:  Sri Lankan shares closed at their lowest level in two weeks yesterday as investors waited for clues from government budget and September-quarter corporate results, brokers said.

Insurers gearing up for CSE listing to meet Jan 2016 deadline

?As the insurance industry heads for the January 2016 deadline for mandated listing on the Colombo Stock Exchange, many insurers are gearing up getting themselves listed on the Colombo Stock Exchange. 

Candor launches mutual fund with IPO

Candor Asset Management (Pvt) Ltd will be listing its latest Candor Opportunities Fund, on the Colombo Stock Exchange (CSE) through an Initial Public Offering (IPO).

Capital Alliance Finance to raise Rs.116mn through rights issue

?Capital Alliance Finance PLC, a finance company with an asset base over Rs.1 billion is planning to raise Rs.116 million through a rights issue.

NCE Chief heading to Vienna to discuss UNIDO’s cinnamon project

Sarada de Silva, President of the National Chamber of Exporters of Sri Lanka (NCE) and the Founder President of the Spice Council,...

Nihal Sri appointed Country Representative of IAACA

Nihal Sri Ameresekere, Chairman, Consultants 21 Ltd., has been appointed, as Sri Lanka Coordinator of the International Association of Anti-Corruption Authorities (IAACA).

Anushka Wijesinha appointed Ceylon Chamber’s Chief Economist

The Ceylon Chamber of Commerce ha appointed Anushka Wijesinha as its new ‘Chief Economist,’ to spearhead the institution’s ‘Economic Intelligence Unit’. Wijesinha,...

Asian Paints breaks new ground in Sri Lanka with ‘Masterstrokes’

A unique multi-dimensional loyalty programme that will contribute significantly to the empowerment of local painting technicians has been launched in Sri Lanka by Asian Paints, the multinational coatings giant that operates in 18 countries.

Premium International and Moratuwa University extend R&D laboratory partnership

The landmark Public Private Partnership (PPP) agreement between Premium International Pvt Ltd and the University of Moratuwa was extended for a further 3 years based on the remarkable progress made by Sri Lanka’s only Research & Development Laboratory for bio medical technology. 

Singhe Hospital to spread wings

Singhe Hospital network as the first step of spreading its wings around the country,  opened their first complete laboratory at Homagama recently.

Access Energy Solutions celebrates 10th anniversary

Access Energy Solutions that provides complete turnkey electrical engineering, energy management and power solutions recently celebrated their 10th anniversary. 

Taiwan Textile Fairs to be held in Sri Lanka next month

Taiwan is internationally renowned for textile development. The highly successful Taiwan Textile Fairs creates a common platform for class, leading textile manufacturers with their product ranges to meet with Sri Lankan garment manufacturers. 

State enterprises must invest in T&D to revive: Eran

Investing in new skills and higher allocation for training and development (T&D) is essential, according to the new State Enterprise Development Deputy Minister, if the nation’s state-owned enterprises (SOEs) are to revive and become profitable ventures. 

Employers tend to see EPF payments as tax: researcher

Some employers are evading the payment of Employees’ Provident Fund (EPF) benefits as they view it as a tax, a researcher and the head of a Colombo-based equity brokerage said. 

Chairmen of 4 state tourism agencies step down

 The four chairmen of the national tourism organisations stepped down from their posts last evening.

ComBank carries on with good practice

Continuing a best-practice standard set last year to rise above the Annual General Meeting (AGM) rush, Commercial Bank of Ceylon PLC announced last week that it would be holding its AGM in March 2016.

Sri Lanka among top 50 high-speed broadband users

Making further strides in the fixed broadband and Internet sphere, Sri Lanka has been ranked among the top 50 countries for having broadband speeds above 4Mbps for 77 percent of the country’s broadband subscribers,...

SriLankan seeks ideas from employees to reach profitability

The top management of Sriankan Airlines has launched a company-wide interactive campaign titled ‘Red to Black’ to gain innovative ideas from its staff to bring the national carrier back to profitability.

Photo Technica launches new website with digital enhancement

Photo Technica’s web page is back, with a digitally advanced version, as a technophiles guide and a live extravaganza of photography as an art in varied forms. After months of toil and research, they have relaunched their new website. 

DHL Express awards StanChart with GOGREEN Certificate

DHL Express, the world’s leading international express provider, has awarded Standard Chartered Bank Sri Lanka with a carbon credit certificate for the use of the company’s climate neutral shipment option DHL GOGREEN.