Interim budget revenue proposals key for meeting this year’s deficit target

The budget deficit numbers outlined in January’s interim budget will be met if the new parliament will pass the revenue measures which were proposed in January, the country’s top Finance Ministry official said.

Rupee at record low on importer dollar demand

?REUTERS: The Sri Lankan rupee weakened 0.3 percent yesterday, hitting a record low for a third session in a row due to importer dollar demand, although some exporter conversions of dollars capped the fall, dealers said.

State Minister of Finance assumes duties

?Sri Lanka Freedom Party national list MP Lakshman Yapa Abeywardena yesterday assumed office as the State Minister of Finance at the Finance Ministry in the presence of Finance Minister Ravi Karunanayke and President Maithripala Sirisena.

Asset Radio clinches CNCI Gold Award

The Annual CNCI Achievers Awards is organized by the Ceylon National Chamber of Industries to recognize entrepreneurs in the industrial sector for their achievements in the service sector. 

‘Prima Stella’ conducts cricket camp for future champions with Sanga

Prima Stella along with Kumar Sangakkara will be conducting a cricket training camp for young cricketing enthusiasts on the 2nd of October.  

Humriz pioneers in jewellery making technology in Sri Lanka

Leading promoter of Jewellery Casting Machinery Tools and Consumables, Humriz (Pvt) Ltd had its stall at the 25th Facets Sri Lanka Jem and Jewellery Exhibition recently. 

McLarens Lubricants conducts industry knowledge-sharing seminar

?McLarens Lubricants Limited, sole distributor for ExxonMobil in Sri Lanka, recently conducted an industrial seminar on the topic of “Good practices in lubrication”. 

ComBank wins int’l recognition for Green Banking efforts

The Commercial Bank of Ceylon’s efforts to make its operations more eco-friendly have been acknowledged internationally with the award for ‘Best Sustainability – Green Initiative’ at the 2015 Asian Customer Engagement Forum (ACEF) Awards in Mumbai.

Otara launches new collection for Embark at Galle Fort store

Otara Gunewardene, the trendsetting Sri Lankan entrepreneur, an inspirational businesswoman, a philanthropist and change maker has always been passionate about being kind and compassionate to animals and promoting animal welfare. 

Roshan Motha appointed PFAN Country Manager for Sri Lanka and Maldives

The Private Financing Advisory Network (PFAN), which is a multilateral, public-private partnership initiated by the Climate Technology Initiative (CTI), in cooperation with the UNFCCC Expert Group on Technology Transfer...

Dialog Television revolutionizes pay television industry with new daily rental connection

?Dialog Television, the leading pay television network in the country, with over 500,000 customers launched their newest prepaid connection ‘Power Play’ to the market recently. 

South Asia Textile Industries Lanka kicks off Rs. 1 bn expansion programme

Leading Sri Lankan textile manufacturer South Asia Textile Industries Lanka recently kicked off an ambitious expansion programme, having already begun investing what will ultimately be over Rs. 1 billion, in total, in the latest 5th Generation Hybrid...

Laugfs celebrates 20 years with 20-days of special offers

?In celebration of completing 20 years of trust and excellence, Laugfs recently announced 20 days of special offers, discounts and giveaways from across its diverse portfolio of products and services.

Singer and Education Ministry to improve Home Science subject in schools

?A home-cooked meal is at the heart of a healthy family, providing wholesome nutritional goodness. 

Engineers’ Association organises ‘CEPA for Whose Benefit?’ seminar

?The Sri Lankan Engineers’ Association (SLEA) has organised a public seminar titled ‘CEPA for Whose Benefit?’ on Thursday, September 17, to create awareness on the Comprehensive Economic Partnership Agreement (CEPA) with India.

ECCSL ushers in new era of Belgium-Sri Lanka investment and trade

?The European Chamber of Commerce of Sri Lanka (ECCSL) is organising a breakfast meeting with Jan Luykx, the Belgium Ambassador to Sri Lanka, India and other SAARC nations.

Japanese businesses show renewed interest to invest in SL: envoy

?Kenichi Suganuma, Ambassador Extraordinary and Plenipotentiary of Japan in Sri Lanka, said there is renewed interest shown by Japanese businesses to invest in Sri Lanka.

Rupee hits record low on importer dollar demand

REUTERS: The Sri Lankan rupee touched an all-time low of 140.00 per dollar yesterday due to importer dollar demand, although it later regained some of the losses after a state bank sold dollars to arrest the fall, dealers said.

SLIPS tariff structure regulated to promote fair market practices

In a move to promote a level playing field in the local banking and financial landscape, the Central Bank of Sri Lanka (CBSL) has taken a step forward in regulating the tariff structure of the widely used Sri Lanka Interbank Payment System (SLIPS).

Hospitality sector human resource dearth worse than estimated

?The hospitality sector human resource shortage is far worse than previously estimated, according to the National Human Resource Development Council (NHRDC) of the Policy Planning and Economic Development Ministry.

Central Bank takes on motor vehicle imports

In a bid to clamp down on the vehicle imports weighing on the country’s Balance of Payment (BOP) the Central Bank yesterday sent directions to all banks and finance companies imposing restrictions on loans and leases to vehicles. 

No role for Mannar basin gas deposits in CEB 20-year plan

The natural gas deposits in the Mannar basin have not been included in the Ceylon Electricity Board’s (CEB) US $ 6.6 billion 20-year power generation expansion plan, which was submitted to the Public Utilities Commission of Sri Lanka (PUCSL) for approval and public consultation.

Confectioners renew call for fair trade

Battered by a myriad of higher import duties and cess taxes for years, the Sri Lankan confectionery manufacturers now find challenging to compete....

Two wheelers ride down August vehicle registrations

Although the new vehicle registration momentum continued into August, the number of registrations slowed down to 50,555 from the record peak of 62,221 in July due to fall in the two-wheeler registrations,...

Hospitality heads call on govt. to regulate fast growing informal sector

Top heads of the hospitality industry yesterday strongly urged the Sri Lanka Tourism Development Authority (SLTDA) to get their act together and pull the fast growing informal sector into some form of regulatory framework,

JKH acquires golf course in hill country for Rs.1bn

Leading diversified conglomerate Jon Keells Holdings (JKH) on Friday (11) announced it acquired a controlling stake in Rajawella Holdings Limited (RHL) with a total investment of Rs.1.04 billion.

Dinesh meets Dallas Fort Worth Chamber Executive VP

NHRDC Chairman Dinesh Weerakkody met with David Berzina, the Executive Vice President Economic Development Dallas Fort Worth Chamber, to discuss opportunities in Sri Lanka for skills training and investments.

Toyota Lanka to globally roll-out MTI’s Competency Model

Toyota Lanka, having successfully launched MTI’s Competency Model in Sri Lanka, plans to globally roll-out this model to its international network. 

L&T looks at Rs.3,000 cr orders from Sri Lanka

PTI: Engineering major Larsen & Toubro (L&T) is expecting Rs.3,000 crore worth infrastructure projects in Sri Lanka as it seeks to expand its global presence, its chief A.M. Naik said.

Sri Lanka’s spending on dairy imports increase 8% in 2014, exports fall 8%

Sri Lanka’s expenditure on dairy and dairy products imports rose by 18 percent from a year earlier to Rs. 44 billion during 2014, according to a new report by the Ceylon Chamber of Commerce.