Pressure continues to build on BOP

?Sri Lanka appears to be steadily tilting towards another Balance of Payment (BOP) crisis as the country’s volatile economy is facing multitude of issues from falling exports, weakening rupee and dwindling foreign reserves.  

New government mulls scrapping export taxes

?Cess and other forms of taxes imposed on exports are most likely to be done away with, as the new government wants to rev up the country’s faltering exports as a key economic policy priority.

Local tyre manufacturer cautions against Chinese products dumping

?Chinese-origin tyres are starting to flood the local market, which could cause an adverse effect for locally manufactured tyres, according to Kelani Tyres PLC Chairman Chanaka de Silva.

Most ministers likely to retain previous portfolios in new Cabinet

?Most of the ministers of the new Cabinet are likely to retain the previous portfolios they held in the interim government, Mirror Business learns.

Aitken Spence to open Browns Beach this year

?Aitken Spence Group’s Browns Beach Hotels PLC will be commencing operations of its Negombo resort during the financial year 2015/16, Group Chairman Harry Jayawardene said in his annual review.

Grant Advertising strengthens management board

?Sajith Weerasinghe and Peter Solomons have been appointed to the Board of Management of Grant Advertising. 

Prof.Heyvaert in Sri Lanka to conduct International Environmental Law workshops at KDU

Professor Veerle Heyvaert, Associate Professor (Reader) of Environmental Law and European Law  at the London School of Economics, will be conducting a series of workshops at the Sir John Kotalawela Defence University (KDU)...

Ceylon Chamber led BCCS to recognize more economic sectors

?The Ceylon Chamber of Commerce led ‘ Best Corporate Citizen Sustainability Award 2015’  an annual event which is being conducted to recognise the best ‘sustainability’ initiatives of the corporate sector has decided to recognise more economic ‘sectors’.

Dollar takes a hit on global growth jitters

?The dollar was under pressure against the yen and euro yesterday as confidence in the global economy headed south and hopes for a September US interest rate hike faded.

Sri Lanka Tourism blitz on Sony Six for Sanga farewell

Sri Lanka Tourism will showcase the beauty of Sri Lanka on the theme “ 8 wonderful experiences in 8 wonderful days” in the focussed markets of India, Middle East and UK apart from the other countries that Sony Six will relay its live broadcast which accounts for 40...

Land Rover partners Summer Camp 2015

?Land Rover, the iconic British brand, once again partnered with Cinnamon Hotels & Resorts to host another successful Summer Camp for kids at Cinnamon Lodge Habarana. 

Hutch sponsors TNL Onstage Season 15

Hutch Sri Lanka, one of the leading providers of broadband 3G services in the country, came forth as the ‘Official Internet Provider’ for the TNL Onstage Season 15, in an effort to support local music talent. 

Hayleys Toastmasters installs new office bearers

The Hayleys Toastmasters club installed its new office bearers for the year 2015/16 in a grand ceremony themed ‘Bring it On’, which was held recently.

S-lon rewards passionate plumbers in Horana

?Inspiring plumbers across Sri Lanka in their drive to encourage excellence and hard work in the industry, S-lon took its Plumber Educational Programme to Horana (Kalutara Region) recently. 

Brand Excellence 2015 sponsors announced

?Brand Excellence 2015 sponsors announced

Shippers’ Council extends best wishes

The Sri Lanka Shippers’ Council (SLSC) extends its best wishes to Prime Minister Ranil Wickremesinghe and the United National Front for Good Governance led by the UNP for the decisive victory achieved at the concluded Parliamentary Elections.

Exporters’ Association congratulates UNF for poll victory

The Exporters’ Association of Sri Lanka (EASL) extended its congratulations to the United National Front for Good Governance, the coalition led by the United National Party, for its decisive victory at the just-concluded Parliamentary general elections.

EDB clinches Asia’s Best Employer Brand Award

Sri Lanka’s apex export facilitator Export Development Board (EDB) has clinched Asia’s Best Employer Brand Awards 2015, in recognition for the valuable contribution made by it being the most sought after employer. 

NCE expects ‘reasonable protection and assistance’ from new government

The National chamber of Exporters (NCE), a private sector chamber of exporters in the country expects “reasonable protection and assistance” to local enterprises from the new government.

SLSBC concludes trade promotion mission to S’pore on high note

The Sri Lanka- Singapore Business Council (SLSBC) of the Ceylon Chamber of Commerce successfully concluded a business mission to Singapore from 29th – 1st August.

Top Canadian universities to tour Sri Lanka to promote Canadian education

Eight of Canada’s leading universities are visiting Sri Lanka from August 30th to September 1st, to meet with top students and showcase Canada as a destination of choice for higher education. 

Lankan startups impress investors at MIT-GSL ‘Demo Day’

After seven weeks of intense brainstorming guided by international and local trainers and mentors, seven prospective Sri Lankan startups pitched their ideas and business plans to a panel of investors in Colombo recently, bringing to a close the 2015 MIT 

Holcim Lanka distributors tour Prague

Holcim Lanka, part of the global Holcim group, treated its distributors for an overseas trip to Prague from 2nd to 7th August 2015. This is one more way for Holcim Lanka to demonstrate its appreciation to its distributors for their valuable contribution for the company. 

Keells’ top brands mark presence at Maldives FHAM Culinary Challenge

Processed meat manufacture of Sri Lanka, Keells Food Products PLC partnered with Food and Hospitality Asia Maldives (FHAM) Culinary challenge organized by Dhivehi Expo Services Pvt Ltd recently.

Lanka Aluminium opens showroom in Gampaha

Lanka Aluminium Industries PLC – the manufacture of quality powder coated aluminium extrusions opened its newest showroom in the fast expanding city of Gampaha recently. 

Hayleys Consumer appointed sole representative for Roland and Colorjet large format printers

Apsom India, regional agent for world renowned Roland & Colorjet links up with Hayleys Consumer for its large format Inkjet printers.  Hayleys Consumer has been in the forefront of the imaging and print industry for over 4 decades, representing world class brands such as Xerox and Fujifilm to 

Janashakthi Insurance in Rs.3.3bn cash call

Janashakthi Insurance PLC announced that it would be opting to raise Rs.3.36 billion through a rights issue to finance its insurance business expansion.  Accordingly, one new share will be issued for every two shares currently held, for a total of 181.50 million shares at a rate of Rs.18.50 per share. 

Bansei Hikkaduwa largest shareholder divests interest

A change has taken place in the shareholding of Bansei Royal Resorts Hikkaduwa PLC, with largest shareholder Channa de Silva divesting most of his shares.

Shares fall from 7-month closing high on retail selling

REUTERS: Sri Lankan shares ended weaker yesterday, moving away from more than seven-month closing high hit in the previous session, on profit-taking by some retail investors.

Nawaloka Hospitals 1Q16 profit up 23% amid improved top line performance

Leading private healthcare institution Nawaloka Hospitals PLC saw its June net profit (1Q16) increasing 23 percent year-on-year (yoy) amid better top line performance.