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. 

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