Deflation persists; consumer prices fall 0.3% in September

Sri Lanka’s consumer prices for the 12 months ended in September 2015 fell 0.3 percent, continuing the country’s deflation for the third month in a row, the data released by the Census and Statistics Department showed. 

JKH consolidates all local and int’l hotel properties under Cinnamon brand

The country’s largest conglomerate John Keells Holdings PLC (JKH) has executed a major transition by consolidating all its Sri Lankan and Maldivian leisure properties under the Cinnamon brand.

SLIC in discussions to segregate life and non-life businesses

State-owned insurance giant Sri Lanka Insurance Corporation (SLIC) is currently mulling the segregation of its life and non-life businesses.

Rupee ends steady for 2nd day on state bank dlr selling

?REUTERS: The Sri Lankan rupee ended steady yesterday as a state-run bank sold dollars to offset importer demand for the greenback.

Watawala Tea appoints Surith Perera as CEO

Watawala Tea Ceylon (WTC), one of the most admired branded tea companies, has appointed marketing & sales professional and former Unilever Sri Lanka Board Director, Surith Perera, as its new CEO.

SLT welcomes Telecom Minister during maiden visit

Minister of Telecommunication and Digital Infrastructure, Harin Fernando visited Sri Lanka Telecom (SLT) head office recently, which was the Minister’s first visit to SLT, after his assumption of duties as the Minister of Telecommunication and Digital Infrastructure.

Durdans Hospital launches Rs. 70 mn Cosmetic Care Centre

Durdans Hospital, the core business unit of Ceylon Hospitals PLC, launched its Rs. 70 million Durdans Cosmetic Care Centre yesterday to cater to medical tourists and the growing trends in Sri Lanka.

Finance Minister to address “Ease of Doing Business” forum today

The fourth forum of the “Ease of Doing Business” will be held today, (01st October) at 2 pm at the 4th Floor Auditorium of MILODA, Academy of Financial Studies, (Old Times Building), Sir Razik Fareed Mawatha, Colombo-01. 

Employers Federation to break plantation wage deadlock

Plantation sector wage issues will soon be resolved as the Employers Federation of Ceylon (EFC) is confident their proposal for the collective agreement will finally break the deadlock.

Mid-range hoteliers must change business model for survival: Analyst

The mid-range hoteliers in Sri Lanka should switch to a completely different business model to survive, a London-based international research agency said.

Facets 2015 marks philatelic milestone

?The 2015 edition of the Facets Sri Lanka international gem and jewellery show, which commemorated its 25th anniversary, recently saw a philatelic milestone with the launch of four stamps depicting Sri Lanka’s prized gemstones and the ceremonial launch of the first day cover.

Lotteries Board donates Rs.10mn to National Kidney Fund

The National Lotteries Board handed over to Finance Minister Ravi Karunanayake a cheque for Rs.10 million to be deposited in the National Kidney Fund.

CCPIT delegation visits National Chamber

A delegation from China Council for Promotion of International Trade (CCPIT) Beijing, headed by CCPIT Deputy Director General Yu Haibo met the National Chamber of Commerce (NCC) officials and had discussions about promoting trade with China...

Urbanisation, a major economic opportunity for SL: World Bank

?Sri Lanka and its regional peers will be able to meet the aspiration of standing amongst richer nations if the urbanisation card is played as a major opportunity to help fast track economic progress, the World Bank (WB) said in a report yesterday.

CCC seminar to help Lankan firms grab global opportunities

?The Ceylon Chamber of Commerce (CCC) will hold a forum titled ‘Explore the global markets and grow your business through the use of government channels’ in a bid to help Sri Lankan firms grab global opportunities.

Over 50 scholarships to be awarded during Adyapana 2015 exhibition

?Education is indeed the bedrock for the future success of a youth, a country and a generation. It is an undeniable truth that a sound secondary and tertiary education would most certainly pave a path of greater success for the individual and society at large.

Rupee ends steady on state bank dollar sales

?REUTERS: The Sri Lankan rupee ended steady yesterday as a state-run bank sold dollars to offset importer demand for the greenback, a day after the currency hit a record low.

Resus Energy’s board representation at Panasian Power dwindles

?Resus Energy PLC was voted out to have a greater board control of mini hydro power developer Panasian Power PLC at the company’s Annual General Meeting held this Monday. 

IFC likely to appoint new country head for Sri Lanka

?International Finance Corporation (IFC) of World Bank Group is likely to appoint a new country head for Sri Lanka. 

Sri Lanka July trade gap narrows sharply

?Sri Lanka trade gap in July narrowed a significant 32.3 percent year-on-year (yoy) to US $ 601.8 million with imports falling at a faster pace compared to exports. 

Consumer-driven rally to cool off soon with fiscal tightening: Brokerage

??With monetary and fiscal tightening measures around the corner, the consumer-driven growth is largely expected to slow down, according to a research arm of a leading stock brokerage. 

Industrial Association urges govt. to impose FDI-friendly legislation

The Industrial Association of Sri Lanka urged the government not to impose legislation which would harm future foreign direct investments (FDIs) to the country.

MTD Walkers raises Rs.3bn via debentures

?Construction industry leader MTD Walkers PLC drew in Rs. 3.04 billion in debt funding through its debenture issue this week.

ADB awaits new govt. policies to plan out lending

The Asian Development Bank (ADB) said that they were waiting for the new government to formulate and streamline new national policies so that the ADB could match their Country Partnership Strategies (CPS) with them to plan out lending to the country.

Banking in Sri Lanka; how important is English language proficiency in this industry?

The banking industry in Sri Lanka is a stable, vibrant, market driven industry with approximately 80 institutions operating island wide, Banking as a career has always been one of the most sought after professions in the country with youth in Sri Lanka aspiring to work in a leading bank. 

Industrial Clothings emerges Best Innovative Exporter at NCE Awards 2015

Organised annually by the National Chamber of Exporters of Sri Lanka (NCE), Export Awards 2015 was graced by International Trade State Minister Sujeewa Senasinghe and Foreign Affairs Deputy Minister Dr. Harsha De Silva ...

Ampara District Chamber organises ‘Digamadulu Navodaya’ trade fair

The Ampara District Chamber of Commerce and Industry in collaboration with the Primary Industries Ministry, Ampara District Secretariat, International Economic Cooperation Institute (ICEI), GIZ and German Cooperation is organising the ‘Digamadulu Navodaya’ trade fair. 

CIC’s stationery brand CIAL launches premier ballpoint pen range

?CIC’s stationery brand, CIAL recently launched its premier ballpoint pen range at the Rajarata University Career Fair. The event was conducted in collaboration with the Ceylon Chamber of Commerce (CCC) and CIC supported the event as one of the main sponsors. 

Rate hike not ruled out if credit continues to accelerate: CB

Despite inflation remaining at benign levels, Sri Lanka will have to jack up interest rates if credit growth continues to grow at a faster pace, Central Bank (CB) Governor Arjuna Mahendran said.

Trans-Pacific Partnership spells trouble for Lankan apparel sector

?The signing of the Trans-Pacific Partnership (TPP) agreement touted as the ‘21st century trade agreement,’ could spell trouble for the Sri Lankan apparel sector and Sri Lanka must ask for similar treatment, according to a leading economist.