RPCs restored and revived government-subsidized plantation industry

Cost of production From 1980 to 1991, under state management, the average cost of production (COP) for a kilogramme of tea was 140 percent relative to the daily wage of a worker. After privatization, the regional plantation companies (RPCs) managed to contain the COP to 90 percent of the labour wage. If extrapolated under the ‘ceteris paribus’ conditions, the current COP should be in the region of Rs.1022. 

Serendib Flour Mills to inject over 27mn Swiss francs into business

Serendib Flour Mills (Pvt.) Ltd, the second largest flour mill in Sri Lanka, hopes to further catch up to its competitor over the next three years with foreign direct investment (FDI) exceeding over 27 million Swiss francs. 

Nivasie’s largest housing project in Malabe to be completed by March

The third and final phase of Orchid project will be completed and ready to be occupied by March this year, making it the largest community with a mix of houses and apartments in Malabe to-date.  The final phase features a 160-unit 12 storied apartment which was recently also recognized as the project of the month by LankaPropertyWeb.com.

Admiral Jayanath Colombage to delivers P.B. Karandawala Memorial Lecture

The Chartered Institute of Logistics and Transport (CILT) Sri Lanka continues its series of industry related lectures with the P.B. Karandawala Memorial Lecture titled ‘The Impact of Blue Ocean Economy to Sri Lanka’s Logistics and Transport Industry’, to be held at The Victorian Hall, The Kingsbury Hotel, Colombo, on January 25th 2018, 5:30p.m. onwards.

Benchmark Innovation gains global and local recognition

The homegrown advertising agency Benchmark Innovation showed off its creative prowess on the local and international arena this week when it was honoured with a total of five awards for creative effectiveness.

Access Engineering completes and commissions three flyovers

Access Engineering PLC, the pioneers in the flyover construction in Sri Lanka successfully completed the construction of three flyovers to lessen the heavy traffic congestion in the areas of Rajagiriya,  Ganemulla and  Polgahawela.

NDB, official banking partner for EDEX Expo 2018

Education and knowledge play an important role in all fields and the future of the country depends on how well our students are given the opportunity to pursue their careers and education. It is with this in mind that the National Development Bank PLC (NDB Bank) joined the EDEX Expo 2018 as its official banking partner.

Jaffna International Trade Fair to be held next week

The ninth edition of the Jaffna International Trade Fair (JIFT), the Northern Peninsula’s largest consumer trade exhibition, will be held from  January 26th to 28th 2018.

Lanka Rubber Global Consortium inaugurated

The rubber product sector has been identified as a trust industry, which has a potential to contribute markedly to the export revenue and establish a reputation for quality and reliability. Sri Lanka produces a wide variety of value-added rubber products from both latex and dry rubber such as solid tyres, latex gloves, rubber bands, extrusions, beadings, mats, miscellaneous sports goods, etc. by processing raw rubber for export.

Seylan Bank celebrates Thai Pongal

Seylan Bank celebrated the festival of Thai Pongal at their head office recently.  A special religious ceremony was held to invoke blessings on staff and to mark this special occasion. The corporate and executive management together with the staff and a large gathering of customers of Seylan Bank were present at this occasion. 

MullenLowe, Quantum to reveal top 10 consumer trends for 2018

Leading integrated communications agency MullenLowe Sri Lanka and premier consumer behaviour specialists company Quantum Consumer Services are set to present a list of key consumer trends that marketers should look out for in 2018 at the CIM ‘Talking Point’ forum to be held on January 29th at the Hilton Colombo Residences (JAIC Hilton).

CA Sri Lanka scholarships for high achievers at 2017 GCE A/Ls

The top three achievers in the commerce stream at the 2017 GCE Advanced Level exam were recently awarded with scholarships from the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) to kick start their professional journey as globally sought after Chartered Accountants.

Shipping agents optimistic about use of LNG in shipping industry

Ocean shipping is essential for global trade. Trade is expected to increase significantly consequent to global population and income level increases. Concurrently, the shipping industry will need to expand and continue to strive for greater efficiencies to cater to this growing demand and to create cleaner maritime shipping by 2020.

Apparel export earnings to shoot over US $ 4.7bn in 2017

Sri Lanka is expecting in excess of US $ 4.7 billion in apparel exports in 2017, as the 2017 cumulative exports up to November have already passed the full-year earnings figure in 2016, the country’s Industry and Commerce Minister said.

ComBank achieves another first on LankaPay network

The Commercial Bank of Ceylon has announced that it has enabled its entire automated teller machine (ATM) network to acquire and process ATM transactions through the EMV (Europay, Mastercard and Visa) integrated circuit, becoming the first ATM Network to be fully EMV compliant in Sri Lanka.  

Pan Asia Bank offers higher rate for 4-month fixed deposits

Pan Asia Bank has come out with a short-term fixed deposit promotion which offers a higher annual effective rate of 12.57 percent on 4 month fixed deposits. (Nominal rate 12.08 percent p.a.). Further there is no limitation to the amount one can invest.

SAITM issue: The cat and bell syndrome

From what we have seen reported in the newspapers over the weekend, it looks like  government doctors are planning another strike, which will inconvenience the common man needing and seeking medical attention in government hospitals. 

Arpico Insurance provides insurance for living

Arpico Insurance PLC was incorporated as a Public Limited Company in 2011, and received the license as a Life Insurer in the same year by the Insurance Board of Sri Lanka primarily providing life insurances.

MillionSpaces – booking event spaces, redefined

MillionSpaces, a marketplace where guests can discover, pay and book unique spaces online, was recently launched

Mohamed Riyal Appointed CEO of Serendib Flour Mills

One of the leading flour mills in Sri Lanka, Serendib Flour Mills, proudly welcomes New CEO Mohamed Riyal

Extending term of parliament and abolition of presidential system: New scenario

As we all know, President Maithripala Sirisena has sought the opinion of the Supreme Court that whether he, as the person elected on January 9, 2015, has any impediment to continue in the office of President for a period of six years. In terms of Article 30(2) of the 19th Amendment, the president will hold office for a term of five years.  

Shortage of real leaders

Our world looks in vain for strong leadership. Politicians and religious leaders no longer seem to offer it.

You may have heard data is the new oil. It’s not

We’ve seen it used numerous times, from the cover of prominent publications to speeches by Fortune 500 CEOs and world leaders: “data is the new oil”.

RPCs restored and revived government-subsidized plantation industry

We refer to the article that appeared in Mirror Business under ‘Performance of RPCs: Facts or Fiction’ by Lalin I. De Silva.

Talawakelle Tea Estates honoured again at Presidential Environmental Awards

Hayleys PLC-owned Talawakelle Tea Estates PLC (TTEL) continued its winning streak at the prestigious Presidential Environmental Awards, after the plantation company won four awards for its continued contribution towards promoting green practices and environmental sustainability. 

Serene Pavilions wins Luxury Boutique Hotel Award

Serene Pavilions made Sri Lanka proud with their prestigious double win at the recently held World Luxury Hotel Awards 2017 ceremony in Switzerland. 

RCL commences Colombo-Tuticorin new feeder service at JCT

Regional Container Line (RCL) commenced a new twice weekly feeder service connecting Colombo with Tuticorin, the second largest port in Tamil Nadu state, India. 

Emirates makes new destinations more attractive to Lankan travelers this year

Emirates is making it even more attractive for travellers from Sri Lanka to enjoy new destinations and experiences in 2018. 

London and Hong Kong next destinations for SIA’s new A380 cabin products

Singapore Airlines (SIA) announced that London and Hong Kong will be the next destinations to be served by its newest Airbus A380 aircraft, featuring the Airline’s recently unveiled new cabin products. Starting 16 February 2018, the aircraft will operate as SQ322 (Singapore-London) on Wednesdays, Fridays and Sundays. From 17 February 2018 to 5 April 2018, it will operate as SQ305 (London-Singapore). With effect from 7 April 2018, the new ai

Everest Group Recognizes Virtusa as a Major Contender in its PEAK Matrix

Virtusa Corporation (NASDAQ GS: VRTU), a global business consulting and IT outsourcing company that accelerate