Indo-Lanka trade tops $2.6 bn in 2015 1H

Indo-Lanka YoY annual trade has reported a remarkable turnaround, and  Indian linked cargo now accounts for over three fourths of Colombo port’s total container transhipment volume,” said A. Sakthivel, Southern Regional 

Upbeat outlook boosts riskier currencies in Asia

AFP - A broadly positive mood across Asian markets helped boost higher-risk currencies yesterday, although analysts said traders were on edge ahead of a possible US interest rate hike next week.

Uber’s Chinese rival invests in US opponent Lyft: report

AFP - China’s top taxi hailing app Didi Kuaidi has taken a stake in US archrival Uber’s own domestic competitor Lyft, the Wall Street Journal reported, as the firms spend fortunes competing for market share.

Saudi oil market shake up set to squeeze US shale: IEA

AFP - Cheap oil prices ushered in by Saudi Arabia’s policy of protecting its market share will end up squeezing high-cost producers like US shale drillers, leading next year to the biggest drop in output in nearly a quarter century, the IEA said yesterday.

Haze shroud commercial city

Pedestrians wear face masks as haze shroud commercial buildings in Kuala Lumpur. The thick haze yesterday came from blazes on western Sumatra island and the Indonesian part of Borneo island, which are home to huge palm oil and pulp and paper plantations. AFP

Perfetti launches Mentos Maxxa range

Mentos Maxxa, the latest addition to the popular confectionary range, was launched by Perfetti Van Melle Sri Lanka at a recent event held at Excel World, Colombo.

Macksons Care launches OXYjet face and body machine

Another venture by Macksons Holdings, Macksons Care (Pvt) Ltd was launched as a provider of state-of-the-art facial and body care equipment.  Macksons Care is also the sole agent in the country for Nora Bode Kosmetik, Germany. At a ceremony held at the Cinnamon

Janashakthi Insurance continues to support Sri Lankan exporters

Janashakthi Insurance has continued to extend its   support towards the 23rd National Chamber of Exporters (NCE) awards, to be held on September 18, at the Hilton Colombo. 

Richard Pieris records Rs.10bn revenue for 2015/2016 1st quarter

The Richard Pieris Group has ended its 1st quarter on a strong note reporting a Group Revenue of Rs.10.3 billion and a PBT of Rs.771 million.  The reported revenue and PBT signifies a growth of 17 percent and 22 percent respectively over and above the previous year.

New Lloyds brings Instant Lasagne Kotthu for Lankan food lovers

New Lloyds, a brand which has won the hearts of many for more than 35 years, introduced their newest product, the Instant Lasagne Kotthu Hot and Spicy 80 gramme pack at the Pro Foods Pro Pack and Agbiz 2015 Exhibition held at the BMICH recently.

Ussapitiya Rivisanda Vidyalaya emerge winners at S-lon Diyasara

S-lon Lanka (Pvt) Ltd., with its single vision of identifying and delivering sustainable water management solutions to the nation for 58 years inaugurated the 2nd phase of the Diyasara Student Circle Programme at D.S. Senanayake College, Meerigama, Ussapitiya 

BoI opens circuit bungalow in Nuwara Eliya

As part of the welfare programme for its staff, the Board of Investment (BoI) of Sri Lanka has established a new circuit bungalow in Nuwara Eliya.  This nine-room bungalow is for the use of BoI staff and their families.

Esoft-Sirasa donate computer lab to Ratnapura school

Esoft Metro Campus, which has launched the ‘E-Thilina’ community service-oriented initiative in partnership with Sirasa Television, donated a fully-fledged, computer laboratory with Internet and other modern facilities to the Dharmapala Maha Vidyalaya, Ratnapura recently. 

Mobitel Cash Bonanza 2015 rewards cash prizes exceeding Rs.1,150 lakhs end of 2Q

The National Mobile Service Provider Mobitel which aims to select a winner every minute of each day through its special Cash Bonanza draw has rewarded 43,245 customers for the month of June through the distribution of cash prizes worth over a staggering 210 lakhs.

Mahapola Lotto network extends to Medirigiriya and Point Pedro

Continuing its rapid expansion drive, following its launch a little over a year ago, lotteries innovator Mahapola Lotto has begun venturing into more remote areas islandwide. Most recently, the local ‘pick your 

Sampath Bank launches ‘Sampath Ithurum Siththam’ to mark World Children’s Day

Reiterating their commitment to the country’s future and establishing a solid foundation for the future leaders of the nation, Sampath Bank is introducing ‘Sampath Ithurum Siththam’ to celebrate World Children’s Day on October 01.

Turret Accessories unveiled at Crescat Boulevard

Turret, the luxury brand store that caters to the niche market of connoisseurs of products and accessories of premium brands, opened Turret Accessories, their newest store at Crescat Boulevard, Colombo’s up-scale shopping-mall complex.

Unipower excels at National Agribusiness Awards

Unipower (Pvt) Ltd received Gold and Silver awards at the 10th National Agribusiness Awards 2015 held at BMICH recently. Picture shows Jayantha Rajapakse, Chairman of Unipower being presented an award and certificate by B. Wijayaratne ,  

DHL records double-digit CO2 efficiency improvement in Asia Pacific in 2014

DHL Express, the world’s leading cross-border express services provider, has improved its carbon efficiency year-on-year in Asia Pacific despite a growth in volume of about 10 percent.

Rathmal now available in baby soap

Rathmal baby soap, the ideal product to wash away microbes from babies is now available at Stores Island wide.  Since ancient times, Rathmal immersed in water, 

“Daniel’s Golden BOPF” & “Rasata kahata” enter Sri Lankan market

Leading the fastest growing tea exporters in Sri Lanka, the Chelcey Tea Company makes its presence felt in the local market with the launch of Daniel’s premium quality tea. 

SLASSCOM appoints Mano Sekaram as Chairman

?99X Technology Co-Founder and CEO Mano Sekaram was appointed as the Chairman of the Sri Lanka Association of Software and Service Companies (SLASSCOM) for 2015/2016 at its Annual General Meeting (AGM) held last week.

Stax to present investment opportunities in resurgent Sri Lanka on global platform

Stax Inc., a global strategy consulting firm, is set to highlight and present the Sri Lankan advantage at an event tagged ‘Investment Opportunities in Resurgent Sri Lanka’ in collaboration with the Singapore Sri Lanka Business Council (SLBA),....

Games.LK-Dialog partner for Counter Strike League Season 8

?Gamer.LK, Sri Lanka’s largest online gaming community, has partnered with Sri Lanka’s premier connectivity provider Dialog Axiata PLC to enable fast access for Season 8 of its popular Gamer.LK Clans Counter Strike League, one of the most popular online gaming leagues in Sri Lanka. 

ICRA assigns EAP Broadcasting BBB rating

?EAP Broadcasting Company Limited (EBC), a unit of the EAP group, has been assigned a rating of (SL) BBB by ICRA Lanka Limited, a wholly-owned subsidiary of ICRA Ltd, a group company of Moody’s Investor Services. 

Barriers to women’s economic advancement rife in South Asia, with reform efforts lagging: WBG report

?Women in South Asia continue to trail their peers in many other parts of the world, as discriminatory laws thwart their economic advancement, says the World Bank Group’s (WBG) Women, Business and the Law 2016 report.

SriLankan Airlines appoints new CEO

SriLankan Airlines announced the appointment of Capt. Suren Ratwatte as the airline’s new Chief Executive Officer, with effect from October 2015. Capt. Ratwatte is an Airline Pilot with over 30 years of experience in the field whose first appointment was with SriLankan’s predecessor, Air Lanka in 1984. 

Nimal Perera bags first PLC for himself

Royal Ceramics PLC Managing Director and high net worth investor Nimal Perera yesterday bought the controlling shareholding of Kalamazoo Systems PLC, a provider of printing solutions for Rs.36 million. 

Rupee trades at near record low

The Sri Lankan rupee traded near its all-time low yesterday and was on track for a fifth straight decline as demand for dollars by importers outpaced selling of the greenback by exporters, dealers said.

IMF team in town

IMF Mission Head Todd Schneider, IMF Sri Lanka Resident Representative Eteri Kvintradze and IMF Economists Jiri Jonas, Manuk Ghazanchyan and Mame Astou Diouf called on Finance Minister Ravi Karunanayake to evaluate the progress of the 2015