Cargills disposes two acres of Colombo land for whopping Rs.4.2bn

Cargills Ceylon PLC has sold two plots of lands with an extent of little over two acres from its massive land bank held in Colombo and elsewhere to Vauxhall Land Developments Private Limited for a consideration of Rs.4.2 billion.

Lankan city hotels keen on knowing more about their foreign visitors

Sri Lankan hotels are attempting to improve the data analysis and segmentation of tourists, according to Cinnamon Hotels & Resorts, which is a subsidiary of the country’s largest leisure sector operator John Keels Holdings PLC.

Thilan says he had no intention of snubbing media

Following is a statement National Agency for Public Private Partnerships Chairman Thilan Wijesinghe has sent to Mirror Business following our story titled ‘Whither good governance? Government’s PPP boss throws media out of top forum,’ which appeared on September 29th.

Entrance of heavy vehicles to Galle Fort banned

The government has taken a decision to enact a gazette notification that was issued in 2009, restricting vehice movement within the Galle Fort.

September inflation accelerates to 7.1% amid soaring food prices

Sri Lanka’s consumer prices measured by the Colombo Consumer Price Index (CCPI) rose to 7.1 percent in September—the second time the prices rose above 7.0 percent during the year as the prices of many staples rose sharply, the consumer price data released by the state statistics office showed. 

U.S. fines HSBC US$175mn for lax forex trading oversight

REUTERS: The U.S. Federal Reserve fined HSBC Holdings PLC US$175 million for “unsafe and unsound practices” in its foreign exchange trading business, the latest in a series of fines for banks that fail to prevent market manipulation.

Sri Lanka gets cautious thumps up from IMF

The International Monetary Fund last week said Sri Lanka is so far doing well in its economic reforms to reach the targets to remain eligible for the US$ 1.5 billion Extended Fund Facility (EFF), despite the challenges posed by the recent climate shocks, which has slowed economic growth below 4.5 percent.

UNIDO’s Dr. Berkel to highlight SDGs and industry way forward in Colombo today

UN’s specialized agency for industrial development working to usher inclusive and sustainable industrialization framework will unveil its way forward on industry framework of Sustainable Development Goals (SDGs) on Sri Lanka today. 

National Chamber hosts Indonesian envoy

Indonesian Ambassador  Gusti  Ardiyasa  along with the Head of  Chancery and Commercial Secretary  addressed the  business community at the “Meet the Ambassador “ programme on bilateral trade between Sri Lanka and Indonesia at the National Chamber  recently. Here the Indonesian ambassador is presented with a token of appreciation  by President of National Chamber of Commerce  Sujeeve Samara

Intex South Asia to begin on November 15

Intex South Asia 2017 will showcase around 250 exhibitors from 15 countries and regions from 15-17 November at the Sri Lanka Exhibition & Convention Centre (SLECC), Colombo-10.

mCash Partners with Keells Super

Infusing further convenience and ease into its mobile offering, the National Mobile Service Provider Mobitel has partnered with Keells Super outlets to offer mobile users to pay utility bills and make

Mobitel achieves No.1 status in 4G LTE Mobile Broadband

Mobitel (Pvt) Ltd, Sri Lanka’s National Mobile Network Operator enhanced its 4G LTE network coverage by innovatively deploying its existing 900MHz spectrum. This initiative

New Lloyds demonstrates delicious Lasagne Koththu recipe

For 40 years, New Lloyds has continued to demonstrate its commitment to providing consumers with quick and delicious meal options, and the new Instant Lasagne Koththu appeals to the craving for home-made ‘koththu’, while maintaining a delicious taste that goes beyond consumer expectations.

Rainco ‘Tharageta Kuda Ihalamuda’ Season 3 declares winners

Rainco (Pvt.) Ltd, leading manufacturer of umbrellas, rainwear, mosquito nets and diverse merchandise, recently declared the winners of ‘Tharageta Kuda Ihalamuda’ consumer promotion.

Pelwatte Dairy expands 100% locally produced milk powder distribution

Sri Lanka’s 100 percent local dairy product manufacturer, Pelwatte Dairy Industries, recently expanded its distribution of milk powder to a wider customer segment in many parts of the country. These areas include Anuradhapura, Hambanthota and Mahiyanganya.

John Sea Food wins Presidential Exports Award

John Sea Food (Pvt.) Ltd, which has climbed up to the zenith of the fish export trade in the local export market, captured the victorious Presidential Exports Award held at the Bandaranaike International Memorial Conference Hall recently.

Rathna Cinnamon Exports wins Presidential Export Award

Rathna Producers Cinnamon Exports (Pvt.) Ltd secured the Presidential Award at the Presidential Export Awards held at the Bandaranaike Memorial International Conference Hall recently.

Mobitel rewards Cash Bonanza Montero Extravaganza August winner

The national mobile service provider, Mobitel’s Cash Bonanza Montero Extravaganza programme continued to reach unprecedented heights in August, witnessing a growing numbers of customers participate as a result of the exciting prizes on offer.

Mobitel achieves No.1 status in 4G LTE mobile broadband

Mobitel (Pvt) Ltd enhanced its 4G LTE network coverage by innovatively deploying its existing 900MHz spectrum. 

Premier attends Smart Class

Prime Minister Ranil Wickremesinghe, Deputy Minister Harsha de Silva and Education Minister Akila Viraj Kariyawasam visited the Grade 7 ‘Smart Class’ at Jayawardenepura Vidyalaya yesterday. The Prime Minister also participated in the lessons along with the 

VW takes new US$3 bn hit over diesel emissions scandal

REUTERS: Volkswagen added provisions of around 2.5 billion euros (US$3 billion) yesterday to the mounting total from its diesel emissions scandal, which has already cost the company around 20 billion euros.

Asia shares recuperate after rough week, dollar in better health

REUTERS: Asian shares regained some poise yesterday after a tough week in which the gathering risk of a U.S. rate rise lifted Treasury yields toward nine-year highs and left the dollar on track for its best week so far this year. 

Rupee edges up on inward dollar remittances

REUTERS: The Sri Lankan rupee closed slightly firmer yesterday as dollar sales by banks due to inward remittances surpassed demand for the U.S. currency from importers to pay for their purchases, dealers said.

Airbnb enters restaurant reservation business

AFP: Rent-a-room giant Airbnb is now in the restaurant reservation business, hoping to provide customers with a memorable meal before they drift off in their home away from home.

World Bank provides US$125 mn loan for low-cost road network

Sri Lanka is joining other countries in moving from a traditional approach to road infrastructure and maintenance which pays the contractor based on progress, to a new approach based on contractor performance. 

SL should be ready to change monetary policy if private credit accelerates: IMF

The International Monetary Fund (IMF) yesterday warned Sri Lanka should be ready to change its monetary policy if any unexpected shocks lead to increased credit growth in already sensitive sectors of the economy, despite a clear decline in private credit growth. 

Lanka Ashok Leyland hands over 25 tippers to Maga Engineering

Lanka Ashok Leyland CEO Umesh Gautam handed over another consignment of 25 Ashok Leyland 10.5 cbm tippers with BS3 and ABS Brakes to Maga Engineering Private Limited CEO Piyadasa Madarasinghe recently.

A Barra-stravagant Feast: Ramada Colombo brings Round Island Barramundi to the table

Has fine dining and seafood been on your mind?Cast your net wide and step out of your comfort zone to experience delicious multi-cuisine dishes created with the freshest, flakiest barramundi sourced 

INSEE Cement lays foundation for Galle’s first vertical cement grinding plant

Entering an important new phase in the company’s history, INSEE Cement laid the foundation stone and commenced building a US $ 14 million vertical cement grinding plant in  Galle recently.

CCC wins CMO Asia ‘Most Promising Mixed-Use Development’ Award

Colombo City Centre (CCC), an upcoming mixed-use venture developed by the Abans group in collaboration with SilverNeedle Hospitality, attained the illustrious award for ‘Most Promising Mixed-Use Development’, at the eighth annual CMO Asia Awards 2017, which was recently held at Le Meridien, Sentosa, Singapore.