Tax cuts will allow beer to regain lost market share: Fitch

Credit rating agency Fitch yesterday said the recent budget proposals to change the taxation structure on beer and hard liquor products would see the former regain some of the market share it lost to the latter over the past year, although the credit ratings of the two largest beer and liquor producers are 

CCC CEO Joins the International Climate Reality Leadership Corps

As the world continues to see stronger storms, faster spread of wildfires, and water levels rise, one organization is taking action and inviting world thought leaders into the

Janashakthi creates history at Effie Awards with first Gold in Insurance category

Janashakthi Insurance PLC created history at the recently held Effie Awards 2016, winning the coveted Gold Award in the Insurance category.This was the first Gold won in the insurance

DSI won the Gold Award at the International Quality Circles Convention

Representing Sri Lanka with 2 Quality Circles, the DSI Samson Group emerged as the Gold Award winners at the recently concluded International Quality and Productivity Convention 2017

Janashakthi Continues To Charge Ahead With Double Digit Growth

Janashakthi Insurance PLC (Janashakthi) reported a consolidated Gross Written Premium (GWP) of Rs.11.047 billion for the nine months ended 30th September 2017

Emirates places US$15.1bn order for 40 Boeing 787 Dreamliners

Emirates, the world’s largest international airline, has announced a US$15.1 billion (AED55.4 billion) commitment for 40 Boeing 787-10 Dreamliners.

Insee Cement accoladed at Presidential Environmental Awards 2017

Sri Lanka’s premier cement manufacturer Siam City Cement (Lanka) Limited, also known as, Insee Cement secured dual awards in recognition of the company’s 

Cathay Pacific provides access to digital newspapers and magazines via PressReader

Cathay Pacific collaborated with PressReader to deliver what passengers value: Thousands of popular digital newspapers and magazines to everyone who flies with Cathay Pacific.

Gulf Air, CFM sign US$1.9bn LEAP-1A engine and services deal

Gulf Air, the Kingdom of Bahrain’s national carrier, and CFM International have signed an agreement for the purchase of 58 LEAP-1A engines to power 17 Airbus A321neo and 12 A320neo aircraft and an additional seven spare engines to support the operation.

Lanka Walltiles accoladed at Presidential Environmental Awards 2017

Lanka Walltiles PLC won a Merit award at the Presidential Environmental Awards 2017 (Chemical Industry category), organized by the Central Environmental Authority on 16th October 2017 at the BMICH.

NBRO to launch reports on chrysotile fibre cement roofing sheets

Under the request made by Chrysotile Information Centre, the National Building Research Organization (NBRO) and the University of Moratuwa conducted two independent researches on Chrysotile fibre cement roofing sheets.

SriLankan accoladed at Future Travel Experience Asia Awards 2017

SriLankan Airlines was recently accoladed the title of ‘Best Full Service Airline in Central and South Asia’ for the third consecutive year at the Future Travel Experience Asia Awards 2017 in Singapore, an event that recognizes the most customer-centric airlines and airports in Asia and Oceania.

Lamudi forecasts demand for property in Galle and Colombo

There is little argument that both Colombo and the city of Galle are two of the most developed urban regions in Sri Lanka.

Emirates and flydubai expand partnership, announce new codeshare destinations

Building on the success of the initial phase of their partnership, Emirates and flydubai have announced 16 additional destinations to which Emirates’ passengers will be able travel on a single ticket.

New Alutec advances in local aluminium industry

With 30 years of experience, Anil de Silva has succeeded in revolutionising the Sri Lankan aluminium industry by identifying the trends in the international market.

Iconic Developments picks Maga Engineering as construction partner for Galaxy

Sri Lanka’s pioneer in innovative and affordable luxury living, Iconic Developments (Pvt.) Ltd announced an agreement with Maga Engineering (Pvt.) Ltd, the country’s largest construction firm, to serve as its engineering partner for the upcoming Iconic Galaxy project.

Analysis of budget 2018 from an automotive perspective

Historically, the customs duty on motor vehicle imports has been calculated on the cost, insurance and freight (CIF) value of the vehicle. In customs terminology, the value for customs duty is assessed on the price ‘paid or payable’ by the importer.

HMD Global announces launch of Nokia 2

HMD Global, the home of Nokia phones this week announced the launch of the Nokia 2, with two-day battery life, the Nokia 2 is built to keep going long after other smartphones need recharging.

Five-day Epihack Sri Lanka event enters final day; new solutions developed

Epihack Colombo brought together 55 experts from 11 countries all over the world to take part in the international collaborative effort spanning five days facilitating an intensive environment to develop, integrate, and improve technological solutions in order to detect and reduce the impact of dengue fever in Colombo.

XOLO Smart Classroom at St. Sylvester’s College

In embracing technology for smart and intuitive education, St. Sylvester’s College Kandy launched the XOLO Smart Classroom platform, first of its kind in the Central Province and the largest deployment to date in Sri Lanka.

CAMMS wins gold at 19th annual NBQSA ceremony 2017

Global Enterprise Performance Management (EPM) software vendor, CAMMS won a Gold award for its Project Management solution, ‘cammsproject’, at the 19th annual National Best Quality ICT Awards (NBQSA) ceremony held in Colombo.

IFS celebrates 20 years of university collaboration

IFS, a global enterprise software company that has built sustainable partnerships with leading universities in Sri Lanka, recently celebrated 20 years of University collaboration at The Kingsbury Hotel in Colombo.

Budget 2018: Why and how is it different?

The budget for the year 2018 that was presented to parliament by Finance Minister Mangala Samaraweera was totally different from the others that we saw during the past few years. 

Budget 2018 lacks commitment to Central Bank’s inflation-targeting crusade

It would be a suicidal mission for the Central Bank to undertake inflation target-based monetary policy without strictly enforcing budget discipline by the government, as I cautioned in my article appeared in Daily Mirror of October 31, 2017. Although I 

Maritime cold war developing in Indian Ocean Region: Dr. Jayanath Colombage

Admiral Dr. Jayanath Colombage, Director Pathfinder Foundation said that the Indian Ocean Region is a region of “strategic competition, strategic alliances for some major powers against others and strategic dilemma for smaller and less powerful states for major powers”. 

Former Indian Finance Secretary to speak on India-Sri Lanka Economic relations

The Lakshman Kadirgamar Institute of International Relations and Strategic Studies (LKI) and the Institute of Policy Studies of Sri Lanka (IPS) will host a joint lecture by Dr. S. Narayan, former Finance Secretary of India, on ‘India-Sri Lanka Economic Relations in Modi’s India.’ 

EU launches programme to reduce poverty in Uva and Central Provinces

The European Union (EU) launched one of the largest programmes of development support in the country. 

TEA welcomes economic reforms in budget

In a media statement, the Tea Exporters Association (TEA) yesterday welcomed the government’s budget for 2018 especially the proposals for trade reforms presented to the parliament by Finance Minister Mangala Samaraweera last week. 

Packaging industry says taxation will have ripple effect and hit multiple sectors

In a media statement about the tax increase on packaging raw materials under the proposed budget, the Sri Lanka Laminated Flexible Packaging Manufacturers’ Association says that the tax increase will only have a negative impact on the public who are the end consumers of packaged product. 

Higher charcoal prices continue to plague Haycarb in second quarter

Haycarb PLC appears to be caught up in a prolonged supply chain issue as the company known for activated carbon making is now struggling to source continuous supply of charcoal and its attempt to pass on the increased cost to the buyers has had