State Trading Corporation partners with Huawei to introduce IdeaHub to govt. sector

Sri Lanka’s state trading supply giant that caters to leading public and private corporations – State Trading (General) Corporation (STC), partnered with world’s leading ICT solutions provider Huawei to introduce Huawei IdeaHub, a productivity tool for the smart office, bundled with intelligent writing, High Definition (HD) video conferencing and wireless sharing.

Tecno unveils Camon 17 smartphone in Sri Lanka

One of the world’s fastest growing smartphone brands, Tecno, recently debuted its latest, high-performing Camon 17 in Sri Lanka, which is optimised for capturing studio-quality portraits.

ICTA and PwC Sri Lanka partner on new Credit Evaluation Framework

As part of the efforts to propel the industry and enhance its contribution to economic growth, the Information and Communication Technology Agency (ICTA) and PwC Sri Lanka partnered recently to introduce an alternate Credit Evaluation Framework.

Unleashing ‘billion dollar’ potential of Sri Lanka’s rubber industry

At a time Sri Lanka is in much need of increasing its foreign exchange reserves, the vast untapped potential of the country’s rubber exports industry requires due attention.

Debottlenecking strained supply chain during COVID-19 pandemic and beyond

The SARS-COV-2 or novel coronavirus crisis has pushed economies into recession or even depression by triggering economic down turns caused by long-orchestrated lockdowns that brought down international trade to a near standstill.

Poor quality white sugar hampers quality of local confectionaries: LCMA

Sweet turns sour for local confectionery manufacturers as they are expected to feed into their production process substandard sugar which has hampered the overall quality of the end product reaching the market.

Colombo land prices accelerate in first half with industrial land prices rising the most

The gain in land prices in the Colombo district accelerated during the first half of the year, bucking a decelerating trend that lasted for two years, in a reflection that land prices are being gradually bid up with the rising demand caused by re-invigorated economic activities with lower interest rates also acting as a strong pull factor.

Sunshine Holdings reports strong 1Q; but concerned over chemical fertilizer ban

Sunshine Holdings PLC reported robust sales in the three months to June (1Q22) powered by its expansive interests into healthcare, consumer goods and agri businesses, but the company is concerned that the recent ban on chemical fertilizer could have a bearing on its plantation sector represented by tea, rubber and palm oil.

Hayleys Fabric doubles revenues in June after debt funded acquisition of South Asia Textiles

Filing its first set of consolidated interim financial statements for the three months ending June since acquiring South Asia Textiles Limited, Hayleys Fabric PLC doubled its revenues and nearly tripled its earnings in a sign that the combined entity is adding scale into its knit fabric making business with synergies being generated along its way.

Cargills Ceylon maintains revenues during pandemic-stricken June quarter

Cargills (Ceylon) PLC maintained its revenues during the three months ended in June, largely unchanged from the previous three months, but significantly up from a year ago when the virus related lockdowns forced businesses to remain shuttered and people to remain indoors for a longer period when the pandemic first struck the country.

Higher loss provisions and other expenses weigh on DFCC Bank 2Q

DFCC Bank PLC accelerated its loan growth in the three months ended in June (2Q21), but uncertainties related to the virus resurgence prompted the bank to set aside higher provisions for possible loan defaults while the other expenses rose as the bank provided transport to its staff amid restrictions on public transport was in place, taking a dent on the earnings.

Six mid-market firms selected for Sri Lanka@100 Advisory Services

The Sri Lanka@100 platform announced the selection of six high-potential, mid-market firms to receive cutting-edge business advisory services to accelerate their growth.

Rising poultry feed prices continue to compress margins at Keells Food Products

Advantis 3PL Plus becomes first SL logistics company to obtain UKAS accredited ISO by SGS

Advantis 3PL Plus, a member of the Hayleys Advantis Group, set yet another benchmark in the logistics sector by becoming the only Sri Lankan company to obtain the UKAS accredited ISO 22000:2018 certification in food safety management in the ‘storage, distribution and value-added services’ sector certified by SGS Lanka (Pvt) Ltd.

Plantation Minister, State officials hold discussions with Swiss organic agri experts

A renowned team from Switzerland who are widely regarded as experts on organic agriculture met with Minister of Plantation Dr. Ramesh Pathirana and Secretary to the Ministry of Plantation Ravindra Hewavitharana on August 06th.

AIA on board as Platinum Sponsor for Sri Lanka’s Most Admired Companies Award

The organizers of the Most Admired Companies Award - The Chartered Institute of Management Accountants (CIMA) and The International Chamber of Commerce Sri Lanka (ICCSL) are delighted to have AIA Insurance on board as the Platinum Sponsor.

US-China trade spat worked in favour of Sri Lanka, says leading fabric maker

The trade rebalancing act that took place between the United States and China has already worked in Sri Lanka’s favour, as the fabric supply chains began shifting towards South East Asia, seeking to establish new supply relationships after being too dependent on China for far too long.

Facebook Marketplace comes to Sri Lanka

Facebook has announced that Facebook Marketplace is now available in Sri Lanka, making it easier for people to discover, buy and sell items from others in their local communities.

AEL completes scope at Nanotechnology and Science Park

Access Engineering PLC (AEL), Sri Lanka’s foremost civil engineering and construction enterprise, completed the construction of phase 1B at the Nanotechnology and Science Park, in Pitipana North, Homagama, recently.

Amazon delays office return until 2022 as Covid spreads

Amazon has told its US corporate staff not to return to the office until next year as COVID continues to spread.

Global investors cheer as India scraps retrospective tax

India has introduced a bill in its lower house to scrap a controversial 2012 law that retrospectively levied capital gains tax on companies for the indirect transfer of their Indian assets.

DPGV enters Russian market

D P Global Ventures (DPGV), the agricultural wing of David Pieris Group of Companies, recently concluded its first export consignment to the Russian market.

EDB collaborates with CCC and USAID to train officers to guide SMEs to become exporters

The Sri Lanka Export Development Board (EDB) is collaborating with the Ceylon Chamber of Commerce (CCC) and United States Agency for International Development (USAID)-supported Partnership for Accelerating Results in Trade, National Expenditure and Revenue (PARTNER) Activity to implement a capacity building programme for the development officers attached to the EDB.

Six more hospitals receive essential medical equipment from ComBank

Another six government hospitals have received donations of essential medical equipment from the Commercial Bank of Ceylon as it continues to support the healthcare sector and helps strengthen emergency care facilities in local hospitals.

People’s Bank completes another CSR initiative to mark anniversary

People’s Bank continued commemoration of its 60th anniversary by providing a new building and enhancing other facilities at the Rekeula Primary School in Polpithagama.

Clean Ocean Force successfully completes first year leaving many WP beaches cleaner, safer

Clean Ocean Force (COF) has successfully completed its first year of operations, leaving many beaches around the Western Province cleaner, safer, and well sustained.

HNB ‘Oba Venuwen Api’ initiative donates ultrasound scanner to IDH

In an effort to enhance facilities for COVID-19 patients at the National Institute of Infectious Diseases Hospital (IDH), Sri Lanka’s leading private sector bank HNB PLC donated a state-of-the-art ultrasound scanning machine through its ‘Oba Venuwen Api’ initiative to support the healthcare sector.

SLT-Mobitel demonstrates purposeful leadership donating PCR machines to District Hospitals

SLT-Mobitel, in demonstrating purposeful leadership to help communities overcome the pandemic, has stepped up efforts to further support the nation by donating several Polymerase Chain Reaction (PCR) testing machines to District Hospitals across the country.

Facebook Marketplace now is SL

Social media networking service, Facebook, announced the launch of Facebook Marketplace in Sri Lanka, a feature that allow app uses to discover, buy and sell items from others in their local communities.

Pandemic fuels SL’s digital literacy; computer literacy lags

While computer literacy hasn’t reached a third of the population in Sri Lanka, the COVID-19 pandemic has given the country’s digital literacy a push with people picking up digital devices to connect with each other, work, study and entertain themselves while staying at home.