Asiri Hospital to sell Rs.845mn worth shares to Actis

Softlogic group subsidiary Asiri Hospital Holdings PLC (ASIR) said it was selling new shares to emerging market private equity firm Actis Investment Holdings SL Limited in a private placement deal.

Opposition to CEPA builds up

Sri Lankan engineers called for transparent and nationally advantageous negotiations before signing the Comprehensive Economic Partnership Agreement (CEPA) with India in the backdrop of Prime Minister Ranil Wickremesinghe’s state visit to the Northern neighbour.

Capital market expects pro-business agenda in budget 2016

The local capital market stakeholders yesterday expressed hopes for a pro-investment and business agenda in the upcoming budget for 2016, as the current year, despite being a rather eventful one, was marred by uncertainty.

CAA to clamp down on banned confectionery dumping

Sri Lanka’s state-owned consumer rights watchdog, Consumer Affairs Authority (CAA) last week started acting on the complaints made on dumping of confectionery items manufactured out of banned ingredients risking the lives of the consumers. 

India’s UltraTech to boost construction industry in Sri Lanka

UltraTech Cement, a major player in the Sri Lankan Cement industry,  retained its status as the No.1 cement company in India by scaling up its capacity from 48.75 million tonnes per annum (MTPA) in January 2012 to 69.61 MTPA in March 2015.

Laugfs celebrates 20th anniversary in Anuradhapura

?Laugfs recently celebrated its 20th anniversary by taking a journey back to its cultural roots, in the historic city of Anuradhapura.

Record number of Maldivian Eid holiday goers head to Sri Lanka

Haveeru Online: A record number of Maldivians are set to visit neighbouring Sri Lanka during the upcoming Eid holidays, SriLankan Airlines said on Thursday.

Fentons gears up for next 100 years of innovation

Fentons, a building services and engineering specialist with close to a century of expertise in the field, is once again fostering innovation in the Sri Lankan construction sector, completing a number of state-of-the-art projects recently.

Speed Group moves to new biz location

The head office of the Speed Group of Companies, a longstanding commercial enterprise in Sri Lanka, shifted to a new business location recently. In terms of the relocation, the head office of the Group now functions from Robert Gunawardena Mawatha, Kirulapone, Colombo 06.

Godrej Sri Lanka introduces all new ‘Stella Naturals’

Amidst the hustle and hectic life where nothing runs according to your plan and your stress levels are on the rise in both home and office, what if there was a way to outbreak from all?

German Foreign Minister in Sri Lanka next week

?German Foreign Minister Dr. Frank-Walter Steinmeier will visit Sri Lanka on 22nd September. 

EU could lose 3.5 mn jobs if cuts trade defences against China -report

The European Union could lose up to 3.5 million jobs if it removes its trade defences against China as Beijing expects it to do by the end of 2016, according to a study for a group of 25 European manufacturing federations published yesterday.

French group to open two hotels in Iran

AFP- French group AccorHotels announced this week it will become the first international hotel group to operate in Iran as the Islamic Republic opens up to the West following the deal on its nuclear programme.

China companies join US high-speed rail project

AFP - A Chinese rail consortium is teaming up with private US firm XpressWest to push forward a high-speed rail project linking Las Vegas with Los Angeles, the companies said Thursday.

India’s Central Bank chief warns against growing too fast

AFP - The head of India’s Central Bank yesterday  warned Asia’s third-largest economy against trying to grow too fast, pointing to the plight of recession-hit Brazil as a cautionary tale.

ComBank to commence fully-fledged banking operations in the Maldives

The Commercial Bank of Ceylon PLC has announced plans to extend its services to the Republic of Maldives following the receipt of regulatory approval for the establishment of a fully-fledged Tier I Bank in the idyllic archipelago.

Fed rate decision lifts Asia markets, emerging currencies

AFP - The US Central Bank’s decision to hold off hiking interest rates sent emerging market currencies and most Asian markets advancing yesterday, as concerns eased over an outflow of cash as the global economy suffers a painful slowdown.

Intel Sri Lanka to showcase NUC at Colombo Book Fair

Intel Sri Lanka will feature one of Intel’s groundbreaking products, the Intel Next Unit of Computing (NUC), at the upcoming Colombo International Book Fair, which will be held until September 27, 2015. 

Watch Rugby World Cup on Dialog Television

Watch 2015 Rugby World Cup favourites, the New Zealand All Blacks, scrum down to defend the ultimate prize in rugby union, the William Webb Ellis Cup from today onwards, LIVE on Dialog Television. 

Hutch partners YES Superstar Season 3

Hutch, one of the leading providers of broadband 3G services in the country partnered with MTV Sports in collaboration with YES 1O1 to sponsor YES Superstar Season 3.

Commercial Credit powers ‘Future Minds 2015’

Commercial Credit recently extended its patronage to ‘Future Minds 2015’ as the main sponsor and official financial partner for the fifth consecutive year. 

Sri Lankan children dream to build cars of the future

What if cars could break down language barriers or generate positive attitudes or rescue people when disasters hit? Most adults would dismiss such notions as wishful thinking but sometimes....

Union Assurance awards ‘Loku Wunaama Mama’ art competition winners

A special prize giving ceremony was held recently to recognise the winners of the ‘Loku Wunaama Mama’ art competition. This was held to coincide with the Union Assurance Higher Education Month. 

Fortune Cooking Oil holds grand draw of ‘Muluthangei Fortune’ promo

Fortune Cooking Oil, Sri Lanka’s number one edible oil brand marketed and distributed by Pyramid Wilmar (Pvt.) Limited, recently held the grand draw for the ‘Muluthangei Fortune Thagi Wasana’ competition.

Diva ‘Idame Vasanawa’ helps loyal customers build their future

Everyone dreams of having his or her own land to build a future upon. For three loyal customers of Diva, this incredible dream has now become a reality. 

Rupee float seen positive; more economic reforms urged

?Sri Lanka has won a thumbs up from ratings agencies and economists for floating its rupee currency after last month’s general election, but more reforms will be needed to support the currency and conserve the Central Bank’s modest reserves.

MTD Walkers to raise Rs.3bn via debentures

Integrated infrastructure and engineering solutions provider, MTD Walkers PLC yesterday said it was raising Rs.3 billion through a  debenture issue.

Indian Oil keen to set up greenfield refinery in Sri Lanka

Indian Express: State-run Indian Oil Corporation (IOC) is planning to set up a 6 million tonne per annum (mtpa) greenfield refinery in Sri Lanka. 

Fed rate hike to affect those depending on foreign funding: Moody’s

Credit rating agency Moody’s in a new report said that the US Federal Reserve could hike up its short-term interest rates by 0.25 percent today or in the coming months which could have mixed effects on emerging markets.

Bopitiya to become modern township as part of Negombo-Colombo metro rail system

A 150-acre marshy land in Bopitiya bordering Muthurajawela is to be developed as a modern township as part of the 47km electric metro rail system planned by a Malaysian company between Negombo and Colombo.