Asian markets finish week on a high

Asian markets ended the week on a positive note following the lead from Wall Street, with energy firms lifted by a rally in  oil prices.

EU-South America deal ‘could kill 20,000 French farms’: union

AFP: Over 20,000 French farms could go bankrupt if the European Union concludes a major trade deal with four South American countries, France’s biggest farm union 

BMW plans electric Mini production in China

AFP: German auto giant BMW said yesterday it plans to build an electric version of its compact Mini in China, in a possible joint venture with local partner Great Wall.

India-bound gas pipeline breaks ground on Afghan section

AFP: Turkmenistan, Afghanistan, Pakistan and India yesterday ceremonially broke ground on the Afghan section of an ambitious, multi-billion dollar gas pipeline expected to help ease energy deficits in South Asia.

Australia’s biggest bank rejects fresh laundering claims

AFP: Australia’s largest bank the Commonwealth yesterday denied a slew of new claims by the country’s financial intelligence agency that it breached anti-money laundering laws, and rejected a major class action over the allegations.

China seizes control of Anbang Insurance as chairman prosecuted

REUTERS: The Chinese government yesterday seized control of Anbang Insurance Group Co Ltd and said its chairman had been prosecuted, a dramatic move that highlights Beijing’s willingness to curtail big-spending conglomerates as it cracks down on financial risk.

Japan welcomes WTO ruling on South Korea Fukushima food row

AFP: Japan yesterday welcomed a World Trade Organization ruling that called for South Korea to lift an import ban on Japanese seafood, imposed after the Fukushima 

Rupee ends marginally firmer in dull trade

REUTERS: The Sri Lankan rupee ended slightly firmer yesterday in dull trade as banks’ dollar selling on remittance inflows surpassed the importer greenback demand, dealers said. 

Interest in LNG fires up again, but the market’s different now

LAUNCESTON, Australia: If you were looking for signs that the liquefied natural gas (LNG) merry-go-round is starting to spin a little faster, the announcement of a planned massive expansion in Papua New Guinea is ample evidence.

Natural disasters: The great equalizer

A landmark study co-authored by a Sri Lankan economist has found that income inequality at district level in Sri Lanka falls when natural disasters strike, which presents key takeaways for how policymakers should respond to disaster relief in the future.

Towards a knowledge-based economy Start with quality STEM teachers for every child

Deepani is a Grade 10 student who loves mathematics and science. Her parents are delighted and encourage her to continue in these fields, assuring her that she will have a bright future. But Deepani is worried that she is not learning all that she should – her teachers in both subjects are not the best and at times, Deepani has been unable to clarify the doubts in certain areas.

Sluggish market, natural disasters, higher tax dent Nestlé Lanka’s 2017

Nestlé Lanka PLC put up a strong performance for its December quarter (4Q17), but saw its full year performance dented by sluggish market conditions and natural disasters.

IMF says will continue to work with government on economic reforms

Despite speculation in local spheres being high over the government’s future economic decisions in the aftermath of the shocking Local Government polls drubbing, the International Monetary Fund (IMF) this week said that it is continuing to work with the government on the reforms 

Rupee ends marginally weaker in dull trade

REUTERS: The Sri Lankan rupee ended slightly weaker yesterday in dull trade as importer dollar demand outweighed selling of the greenback by exporters. The rupee ended at 155.25/30 per dollar, compared with Wednesday’s close of 155.10/25. The rupee hit a record low of 155.90 last  

Stocks slip from over 3-month high on profit-taking

REUTERS:  Sri Lankan shares yesterday snapped a five-session winning streak and eased from a more than three-month high on profit-booking, while foreign buying in Commercial Bank Plc boosted the daily traded turnover.

Sri Lanka has adequate local economic policy expertise: economist

The Sri Lankan government ignores local economic policy expertise in favour of foreigners who make the same arguments, a leading economist said recently.

Record trade deficit in December despite higher exports

The notable increase Sri Lanka saw in export earnings was offset by racing imports in December 2017 to record the highest trade deficit for the first time in 5 years, the external sector data released by the Central Bank showed.  

Nippon Paint hosts Asia Young Designer Awards for second consecutive year

Nippon Paint celebrated the successful conclusion of the Asia Young Designer Award (AYDA) themed ‘You for tomorrow’ future living as envisioned today, in Sri Lanka for the second consecutive year with a glamorous awards ceremony held at the Hilton Hotel Colombo recently. Held in collaboration with the Sri Lanka Institute of Architects (SLIA), the country’s apex body on Architecture, AYDA 2017 marked yet another 

Access Engineering progressing Deduru Oya water supply project construction work

Access Engineering PLC, one of the foremost civil engineering companies in Sri Lanka, is making a swift progress in the construction of the Deduru Oya water supply project, Ridi Bendi Ela, Maho.

Quick Tea joins ranks of ‘Green Businesses’

Quick Tea (Pvt.) Ltd, a subsidiary of Sri Lanka’s largest Tea Exporter for over two decades- Akbar Brothers Ltd, became the recipient of yet another accolade for the diversified group of companies by being certified as a ‘CarbonConscious Company’.

CIM Sri Lanka partners First Capital Holdings

Renewing a successful working partnership of three consecutive years, a Memorandum of Understanding (MoU) was signed between The Chartered Institute of Marketing (CIM) Sri Lanka and First Capital Holdings PLC, committing to goals mutually benefiting both organizations and strengthening the respective brand identities in the market.

India International Textile Expo underway in Colombo

IITExpo-Colombo 2018, a 3-day event, showcasing the textiles of India, is being held from February 21-23 at Galadari Hotel, Colombo.  More than 40 Indian fabric manufacturers and exporters are displaying varieties of apparel fabrics (woven, knitted and non-woven), made-ups, home textiles, traditional items etc in various blends, textures, colours and designs from various clusters of India. Namely; Tamil Nadu (Erode, Salem, Karur, Coimbatore)

Hayleys Advantis handles cargo for Ironman 70.3 Colombo

Lending its expertise in end-to-end logistics management to ‘Sri Lanka Wonder of Asia Ironman 70.3 Colombo’, Hayleys Advantis announced that it is handling the movement of all cargo being brought to Colombo from the Ironman regional hub in Malaysia.

JWT duo selected to represent Sri Lanka at AdFest 2018

Reinforcing the J. Walter Thompson pioneering spirit, Akila Abdul Azeez and Minendra Sarathchandra collaborated to deliver a compelling, relevant and innovative campaign that led them to winning the 2018 AdFest Young Lotus competition.

Munchee Super Cream Cracker amongst country’s most favourite biscuits

Statistical data from market research shows that Munchee Super Cream Cracker has become the country’s most popular biscuit surpassing other biscuit varieties.

CIM Sri Lanka to host first networking event of silver screen legends

The Chartered Institute of Marketing Sri Lanka will be hosting its first networking event for this year titled ‘Legends of the Silver Screen’ on 27th February, at the CIM office, Colombo 03 at 

Wijeya Digital’s Umair Wolid listed among the 100 Smartest Digital Marketing Leaders

Umair Wolid, Head of Marketing – Content and Digital Media at Wijeya Digital Media was listed among 100 Smartest Digital Marketing Leaders at

Credit moderates; possibility of rate cut hangs in balance

Sri Lanka’s private sector credit growth has continued its moderation path towards end-2017, reflecting the effects of the delayed monetary policy transition gradually taking hold of the country’s money in circulation. 

CB says processing investment proposal by ETI directors

Neither confirming nor denying the speculations that UK-based Lyca Group is nearing a deal to purchase the ETI Group’s assets, Central Bank Governor Dr. Indrajit Coomaraswamy told Mirror Business that the Central Bank is still processing an investment proposal submitted by the ETI directors.  

Pepper growers want Sri Lankan free trade pact quota scrapped

THE HINDU: The Consortium of Pepper Growers’ Organisation, Karnataka, Kerala and Tamil Nadu, has urged the Centre to levy 54 percent duty on imports from Sri Lanka under the South Asian Free Trade Area (SAFTA) and scrap the Indo-Sri Lankan Free Trade Agreement quantity of 2,500 tonnes.