IMF says ‘risks appear to be on the rise’

?While commending for robust growth, low inflation and narrowing of the current account deficit, the International Monetary Fund (IMF) yesterday cautioned Sri Lanka on its fiscal and external fronts. 

SL’s apex investment promotion agency backs protectionism

Sri Lanka’s apex government body for promoting investments appears to support limited trade despite the current government’s positive disposition towards the matter.

Rs.25mn fraud at Ceylon Leather Products

?Ceylon Leather Products PLC yesterday informed the Colombo Stock Exchange that the employees in its tannery in Mattakkuliya had defrauded the company of Rs.25 million during the financial period of 2012 to 2014.

Sri Lanka’s first crowdfunding platform launched

?Sri Lanka’s first-ever crowdfunding platform Help.lk is seeking to bring more foreign exchange to the country to support local innovative ventures and charities.

Indian Trade Fair 2015 opens today

?The ninth Indian Trade Fair will open at 10:00 a.m. today (Thursday. May 7, 2015) at the Sri Lanka Exhibition and Convention Centre (SLECC), Colombo under the distinguished patronage of Acting High Commissioner...

ACFA commends government on 24/7 Customs operations

?The Association of Clearing and Forwarding Agents (ACFA) commended the recent actions initiated by the Government of Sri Lanka (GoSL) on the facilitation provided to importers and exporters, which certainly has a positive impact on trade. 

Baur join forces with Swiss Eyewear Group

?A. Baur & Co. (Pvt.) Ltd, established in 1897, and its sister company Baur Asia Pte. Ltd, Singapore have announced further expansion of their activities in the eyewear branch.

Multilac draws huge attention at Canton Fair

?Multilac made the Sri Lankan flag fly high at the recently concluded 117th China Canton Fair and it is proud to be the only Sri Lankan company to have taken the initiative to promote our Sri Lankan products, at a trade fair of such magnitude. 

AVIC signs on top contractor for Astoria luxury condominium completion

?Astoria, a luxury condominium development that aims to set a new standard in the luxury living style of Colombo, will soon be at the heart of Sri Lanka’s business capital, offering residents a truly indulgent experience. 

Cambio appoints new head for product development

?Cambio Healthcare Systems is a Swedish developer and provider of e-Health solutions to healthcare providers in Sweden, Denmark and UK. In its Sri Lanka office in Colombo 03, Cambio currently provides employment opportunities for over 250 local software engineers.

Singer attends 6th Annual Beko Conference in Turkey

?Beko, the global brand of Arçelik A. S., hosted 1240 authorised dealers from different corners of Turkey and the globe at its 6th Annual Beko Authorised Dealers Meeting in Istanbul, Turkey recently. 

Women in Logistics and Transport Sri Lanka Forum holds AGM

?The Women in Logistics and Transport (WiLAT) Sri Lanka Forum held its Annual general Meeting (AGM) recently, at the National Chamber of Commerce Auditorium, amidst a large gathering, the highest ever recorded in an AGM for WiLAT. 

Sri Lanka-Rwanda Business Forum to be held in Colombo

?Sri Lanka-Rwanda Business Forum, which is organised by the Ceylon Chamber of Commerce, will be held on May 28, 2015 with the participation of a high-powered business delegation from Rwanda.

CIMA partners Rotary to grow one million trees

?CIMA Sri Lanka officially announced the organisation’s participation in Rotary Lanka’s flagship initiative, One Million Tree Stories Project on Tuesday. 

Epic launches new solutions at Interpol World

?Epic Technology Group launched several new products at Interpol World 2015 in Singapore recently. The exhibition restricted for practicing professionals, state authorities, defense and security establishments and international agencies attracted a large number of visitors and exhibitors.

Sanath Fernando reappointed to IFRS SME Implementation Group

?Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) Member and Ernst & Young Partner Sanath Fernando was recently reappointed to serve a second term in the Implementation Group of the International Financial Reporting Standard for Small ...

Ceyoka offers optimized energy efficiency through advanced insulation technology

?As a progressive company with over three decades of visionary growth, Ceyoka (Pvt) Ltd is known for its extensive product diversity and superior services.  

Shares close at two-month high on hopes of better earnings

REUTERS: Sri Lankan shares rose to a more than two-month high yesterday due to local buying in large-caps, while foreign investors exited from risky assets.

Harsha assures CEPA with India will not cause free flow of natural persons

?Renewed negotiations of the proposed Comprehensive Economic Partnership Agreement (CEPA) between Sri Lanka and India will not cause a free flow of natural persons to Sri Lanka, contrary to protectionist industrialists who claim so, according to the country’s economic policy planner.

Vesak holidays boost Pinnawela Open Zoo income

?The income of newly opened Pinnawela Open Air Zoo topped Rs.3.5 million during Vesak holidays (May 1-4).

CIMA Global President meets PM

?CIMA Global President Keith Luck who is on an official visit to Sri Lanka met with Prime Minister Ranil Wickremesinghe at Temple Tress yesterday. They discussed areas relating to better cooperation, strengthening public service capacity and competency building in the private sector. 

Krrish cleared to go ahead: BOI Chief

The Krrish Square mixed development project which was halted due to delays in its final payments of Rs.640 million to the government, is now resuming operations.

CMC to extend online tax payment facility

?The Colombo Municipal Council (CMC) is to extend its online tax payment system by setting up 5 kiosks within the municipal council limits. This will enable even tax-payers who do not possess internet facilities of their own, to make their tax remittances to the CMC online. 

FR case on CB bond issue to resume next week

The fundamental rights petition filed by three good governance activists, Dr. G. Usvatte-aratchi, Dr. A.C. Visvalingam and Chandra Jayaratne seeking an independent and competent inquiry into the controversial Central Bank bond issue is to resume before the Supreme Court on May 13.

Dialog’s service team first to achieve People CMM Maturity Level 5 in Sri Lanka

?Dialog Axiata PLC’s service delivery team earned the distinction of becoming the first customer service outfit in Sri Lanka to be awarded a rating of Maturity Level 5 on the People Capability Maturity Model (People-CMM), last month. 

Chamber seminar to discuss stock market, regulations and challenges to investment

?‘Stock Market’, ‘Market Regulations’ and ‘Good Governance For New Opportunities’ will be the key topics that will come under discussion during an upcoming seminar organised by the Ceylon Chamber of Commerce, Sri Lanka’s premier business chamber.

President-PM postpone CB monitoring tour

?A monitoring tour of the Central Bank (CB) by President Maithripala Sirisena and Prime Minister Ranil Wickramasinghe, which was to be held yesterday, was postponed last minute. 

AAMO Council to meet for first time in Sri Lanka

?Delegates representing 17 member countries of the Asian Association of Management Organisations (AAMO) will hold a Council meeting for the very first time in Sri Lanka on Thursday, May 7, at Cinnamon Grand, Colombo.

Big firms’ export motives cause local poultry prices rise

Supply of poultry in the local market has fallen below demand, leading to higher prices, due to the big corporations’ motivation to export day-old chicks to regional markets in South Asia and the Middle East instead of supplying farms.

Eran calls for immediate dissolution of Parliament

?Highways and Investment Promotion Deputy Minister Eran Wickramaratine yesterday called for the immediate dissolution of Parliament, as the present Parliament has outlived its mandate by disrupting President Maithripala Sirisena’s programme endorsed by the people on January 8.