Uva Highlands sets all-time record price for Uva BOPF grade

At the Colombo Tea Auctions held on 2nd September, Uva Highlands Estate had the distinction of establishing an all time record price of Rs.1350- per kilo for a BOPF grade from the Uva Planting District. 

Rupee falls over 3% to record low; shares weaker

REUTERS: The Sri Lankan rupee fell more than 3 percent to a record low of 139.00 per dollar yesterday after the Central Bank effectively floated the currency by ceasing to quote its own reference rate.

China punishes three firms blamed for stock volatility

AFP - China’s market regulator has fined three companies, including Alibaba-linked Hundsun, a combined 453 million yuan ($71 million) for conducting “illegal securities business”, which has been blamed for volatility on the plunging markets.

ECB cuts growth, inflation forecasts for 2015-2017

AFP - The European Central Bank this week cut its forecasts for both economic growth and inflation in the single currency area over the next few years. The ECB, 

Most Asia stocks down as US jobs come into focus

AFP - Japanese stocks led a broad Asian stock slide yesterday as the yen advanced ahead of a key US jobs report later in the day and after the European Central Bank indicated it could expand its stimulus.

S&P rates Iraq for first time

AFP - American financial service company Standard & Poor’s issued war-torn Iraq a credit rating for the first time Thursday, with the country’s conflict with Islamic State militants and low oil prices giving it a junk score.

AIGS and Lotus launch “Take-in Window”

Gemstone dealers will soon have the convenient facility of obtaining internationally recognized gemstone reports in Colombo with the launch of the new “Take-in window” by the Gemological Institute of Ceylon, 

China’s Bohai to buy jet lessor Avolon in $7.6 bn deal

AFP - Chinese leasing company Bohai will buy Irish jet lessor Avolon in a deal which values the company at $7.6 billion, according to a statement, as Beijing pushes its companies to search overseas for future growth.

Germany adds zest to Ceylinco Life’s ‘Family Savari 9’ promo

Ceylinco Life has stimulated fresh interest in its ‘Family Savari’ mega promotion with the announcement that five policyholders and their families will win an all-expenses-paid holiday in Germany as the grand prize of the 2016 edition of this annual extravaganza. 

SLIIT joins hands with ACL Cables

ACL Cables PLC, the number one cable company in Sri Lanka, recently signed a Memorandum of Understanding (MoU) with the Engineering Faculty of the 

The Factory Outlet launches ‘TFO Club’ loyalty programme

The Factory Outlet (TFO), a growing name in the Sri Lankan clothing industry, recently announced the launch of a tailored ‘TFO Club’ loyalty programme, along with plans for multiple store openings within the next 24 months. 

Siddhalepa sales force awarded Gold at Annual Sales Conference 2015

Siddhalepa, one of the largest distribution networks of the country, held its annual sales conference recently at Stein Studio, Ratmalana. The best achievers were awarded gold and cash prizes by Siddhalepa Group Chairman Deshabandu Dr. Victor Hettigoda.

ComBank supports ‘Construct 2015’ as official banker

Commercial Bank (ComBank) supported Sri Lanka’s construction sector as the official banker to ‘Construct 2015’, one of the largest construction sector exhibitions in the South Asian region.

CIM Toastmasters Club reaches 7th milestone

CIM Toastmasters Club stepped into the seventh successful year by installing its newly appointed Executive Committee for the Toastmaster year 2015/2016 recently, amidst a distinguished gathering of invitees from Chartered Institute of Marketing

Lankem patronage for ‘Robbialac Nil Ahase Wasanthaya’

This year’s National Kite Festival and Competition enjoys the premier patronage of Lankem Paints Ltd, manufacturers and marketers of Robbialac Paints.  This mega event organised by Kite Sri Lanka, has been aptly named ‘Robbialac

Northshore College joins hands with Adyapana 2015

Education will take you to places and this October, education invites you to the BMICH to give you the ‘passport to your future’, where Sri Lanka’s most focused higher education and career exhibition Adyapana 2015 will be held for the 10thconsecutive year on October 2, 3 and 4, 2015 at the BMICH, Colombo. 

Tommy Hilfiger launches Rafael Nadal global brand ambassadorship with tennis tournament

Tommy Hilfiger and Rafael Nadal celebrated the brand’s new underwear collection, ‘TH Bold’ fragrance and tailored collection and unveiled the Fall 2015 ad campaign featuring the tennis icon, with a pop-up tennis tournament in Bryant Park recently.

Nuski wins Professional Excellence Award 2015

Nuski Mohamed FCA, FCMA, received the Institute of Certified Management Accountants Professional Excellence Award 2015 at the Global Management Summit held at Hotel Cinnamon Lakeside, Colombo recently.

IIT Campus: Inspiring a new generation of innovators

During the 25 years of excellence, the Informatics Institute of Technology (IIT Campus) has annexed an eminent position by being an unmatched pioneer in Sri Lanka’s private tertiary education sector in the field of IT and business that awards internationally reputed British degrees from the University of Westminster.

CBL introduces Munchee Crunchee biscuit for kids

‘Munchee’, the favourite biscuit brand of many Sri Lankans, recently announced the launch of the latest addition to their innovative portfolio ‘Munchee Crunchy’ a crispy creamy sandwich biscuit specially developed for kids. 

Fortune Cooking Oil spreads mothers love with “Senehe Ammage”

Fortune Cooking Oil released a specially-produced song titled “Senehe Ammage” (A Mother’s Love) at a special ceremony held at Cinnamon Grand recently.  During this event, the new Pyramid Wilmar website www.pyramidwilmar.com was also ceremoniously launched.

Sri Lanka Wood International Exhibition kick starts next Friday

Sri Lanka Wood International Exhibition 2015 to be held next week on Friday, Saturday and Sunday from 11th to 13th September is a promising opportunity for the growth of wood industry. 

Heladiv celebrates 25 years of success through product innovation

?In a journey that was centered on breaking away from tradition and providing customers with a unique and exciting range of products, HVA Sri Lanka recently celebrated its 25th anniversary.

Hirdaramani supports TEDxColombo 2015 as official venue sponsor

The Hirdaramani Group recently stepped forward as the venue sponsor of TedxColombo 2015: Reimagining Spaces, which was attended by 550 people, as well as an additional 500 people who watched the session online via live streaming. 

DSI introduces ‘Nirogi’ shoe range for diabetic patients

Introducing yet another range of shoes catering to a forte of customers in Sri Lanka, DSI has set out to launch ‘Nirogi’, a shoe range designed with diabetic patients in mind. 

Equity brokerage bullish on telcos despite higher levies

Local equity brokerage Asia Securities in a brief research note said they were maintaining a bullish view on the country’s telecom industry despite the higher levies slapped on the sector.

Mercantile Shipping-Hemas joint venture enters liquidation

The joint venture company of Mercantile Shipping Company PLC (MSCL) set up with the transportation arm of the Hemas group is in the process of liquidation due to the continuous losses incurred by the company, a top MSCL official said. 

Sri Lanka’s gem industry potential largely untapped

The government called on the country’s gem industry to present a long-term policy paper which could be used to create a national policy to tackle current and future problems the industry faces.

Shares edge up from 1-week low; rate concerns weigh

RUETERS: Sri Lankan shares closed slightly firmer yesterday, snapping a three-session losing streak, amid concerns a rise in interest rates could turn investors away from stocks and into fixed income assets, brokers said.The main stock index ended 0.07 percent, 

Rupee at record low after state bank raises dollar peg

REUTERS: The Sri Lankan rupee closed at an all-time low yesterday as a state-run bank, through which the Central Bank usually directs the market, raised the currency’s peg against the dollar by 25 cents to allow the exchange rate to depreciate.