Sri Lanka eyeing longer talks with China on free trade agreement

BEIJING (REUTERS): Sri Lanka wants a longer-time period to negotiate a free trade agreement with China as it is concerned about the economic impact of a rushed deal on their small country, the Sri Lankan ambassador said yesterday.

Sri Lanka catches Lazard’s eye

Recognized as one of the world’s preeminent financial advisory and asset management firms, the 170-year old Lazard has shown interest in Sri Lanka, with a visit this week by an international delegation, in co-operation with MTI Consulting. 

Singer Sri Lanka 4Q hampered by bad weather, lower disposable incomes

Singer Sri Lanka PLC’s profits fell sharply during the quarter ended in December 2017 (4Q17) as the adverse weather and weak disposable incomes hurt the consumer durables giant the most during 2017. 

JKH’s two city hotels record disappointing 3Q results

Asian Hotels & Properties PLC (AHPL), the owner of Cinnamon Grand and Cinnamon Lakeside hotels, reported weak financial performance with subdued profits and revenues for the December quarter (3Q18), possibly reflecting the increasing competition in the city hotels sector in Colombo.  

Bribery, corruption, fraud biggest barriers to economic independence: President

President Maithripala Sirisena said yesterday the fight against corruption is the self-defence of the nation and stressed that it has become one of the main impediments to the progress towards prosperity, which is the aspiration of all citizens.

Footwear and Leather Fair 2018 kicks off

The Footwear and Leather Fair 2018, organised by the Sri Lanka Footwear and Leather Products Manufacturers Association in collaboration with the Ministry of Industry and Commerce, Industrial Development Board of Ceylon and Sri Lanka Export Development Board, has opened its doors to the general public.

Hatton Plantations commences trading at CSE

The shares of Hatton Plantations Ltd commenced trading on the Colombo Stock Exchange (CSE) yesterday. 

Waters Edge and Japanese Embassy present 3rd Annual Japanese Fair

Sri Lanka’s culinary and entertainment hub Waters Edge in partnership with the Japanese Embassy is to present the third Annual Japanese Fair on Sunday, February 11, 2018, from 4:00 p.m. onwards, at the Grand Lawn.

Agna introduces new T-shirt range for comics fans

Agna is the newest addition to the fashion industry to cater to the lack of comic, movies, TV series and games T-shirts available in Sri Lanka.  There is a huge community of comic fans based in Sri Lanka where their interests are mainly to dress as their favourite superhero. The recently held events such as Lanka Comic Con, Colombo Comic Expo are good examples to the fact. 

Boardwalk at Waters Edge launches exciting new menu

An evolving Colombo has many different dining options with cuisines from around the world. Just outside the city however, lies one of the most picturesque destinations one can imagine overlooking the tranquil waters of the Diyawanna. Of the plethora of dining options available at the culinary hub that is Waters Edge, Boardwalk has been a crowd favourite for its location, ambiance and of course the great food served up. 

Hameedia encourages customers to dress better this new year

Hameedia, Sri Lanka’s leading menswear specialist, has launched its annual ‘Upgrade your Wardrobe’ initiative, an idea that will be reiterated through the year. 

Asian markets mixed, rising borrowing costs spook dealers

AFP: Asian markets swung yesterday with some recovering from early losses but traders remain on edge over a rise in US Treasury yields to four-year highs, while fresh US political turmoil is also causing unease.

Stocks climb for 3rd session as Janashakthi Insurance jumps

REUTERS: Sri Lankan shares rose for a third straight session yesterday to their highest close in more than three weeks, boosted by a surge in Janashakthi Insurance Plc as it agreed to sell its general insurance unit to Germany’s Allianz SE.

NSBM enhances industry partnerships with Hemas Manufacturing

NSBM Green University Town took another step to enhance its industry partnerships by joining hands with Hemas Manufacturing (Pvt.) Ltd recently. 

Rupee hits record low for second day on importer dollar demand

REUTERS: The Sri Lankan rupee hit a record low for a second day running yesterday due to dollar demand from banks and importers, but remittances and greenback sales by exporters checked the fall, dealers said.

Germany’s Allianz acquires Janashakthi’s general insurance business for Rs.16.4bn

Germany’s Allianz S.E., the world’s leading insurance firm, this week fully acquired the Janashakthi Insurance PLC’s general insurance business for Rs.16.4 billion, eyeing a top spot in Sri Lanka non-life insurance landscape.

Spa Ceylon opens in Colombo’s Old Fort

Spa Ceylon, the world’s largest luxury Ayurveda chain, has just unveiled another luxurious experience centre in the heart of Colombo’s historic Old Fort with the opening of its Royal Heritage Store & Urban Spa on Chatham Street.

Idea Group holds ‘Abhiman’ musical extravaganza

Idea Group Limited that offers a total solution for roof thatching and home interior décor via ‘Sivilima’ showrooms offered its staff and stakeholders a gift of surprise with the dawn of the new year.

‘Love Sri Lanka Festival’ to celebrate 70th Independence Day

Sri Lanka will be celebrating the 70th Independence Day tomorrow. The Mother Sri Lanka movement (MSL) has decided that the Independence Day of our Motherland, as the most appropriate day that all Sri Lankans can celebrate together. 

Next crisis could threaten eurozone cohesion: ECB official

AFP: The euro single currency area must shore itself up with reforms or face renewed threats of breakup when a new economic crisis strikes, a top European Central Bank official warned yesterday.

Watawala Plantations makes donations to Maharagama Cancer Hospital

Watawala Plantations PLC (WATA), a subsidiary of the diversified Sri Lankan conglomerate Sunshine Holdings PLC, handed over hospital furniture, essential medical equipment and medicine to the National Cancer Institute in Maharagama (Apeksha Hospital).

Sadaharitha Plantations presents employees’ children with school supplies

Sadaharitha Plantations Ltd ended 2017 by encouraging the children of employees working in the company’s commercial forestry projects to aspire to achieve academic excellence in the new school year.

Seylan Bank enables Tikiri kids with latest robotic technology

Seylan Tikiri, which has empowered thousands of children by inculcating the habit of savings, embarked on another major initiative, where the bank’s Cinnamon Garden branch successfully concluded the first workshop on educating the nation’s future generation with state-of-the-art robotic technology.

25 Amana Takaful Adhyapana policyholders rewarded for exceptional performance

Amana Takaful (ATL) Adhyapana policy was introduced with the intention of supporting the hard work and dedication of the students who are academically oriented; in the unforeseen circumstances leading to the demise of the parents, the education insurance policy would ensure that all expenses related to the child’s education is well taken care of.

Eswaran Brothers Exports partners Rainco to protect Sri Lanka’s precious trees

Now in it’s third year in a row, Asian Tree of the Year, reinforces its message of raising  awareness about the necessity of positive action to preserve our biodiversity heritage across Asia.

My Friend empowers underprivileged students to stay in school

As part of its annual CSR project, the charitable foundation, My Friend, distributed school packs to students from eight schools around the country.

AIA Sri Lanka inaugurates Executive Development Programme for Sales Managers

AIA Sri Lanka Academy is proud to announce the inauguration of ‘The Executive Development Programme’ (EDP) at the Post-Graduate Institute of Management (PIM).

Nestle signs MoU with Kelaniya University for youth recruitment initiative

Nestle has signed a MoU with the University of Kelaniya’s Department of Marketing Management. The company has come on board as strategic partner for the University’s ‘Certified Professional Marketing Graduate (CPMG)’ programme, which offers high performing students an additional professional qualification in marketing on top of their degree.

Union Assurance acknowledged at prestigious SLITAD Awards 2017

Union Assurance is one of Sri Lanka’s largest providers of life insurance solutions in the country backed by the strength and stability of one of Sri Lanka’s largest conglomerates - John Keells  Holdings PLC.

Toyota Lanka crowns stars at annual Staff Convention and Appreciation Night 2017

Toyota Lanka (Pvt.) Ltd, the National Distributor for Toyota and Hino vehicles in Sri Lanka, recently held its Annual Staff Convention and Appreciation Night to recognise the outstanding performers of 2017.