Asia Capital, Japan’s Belluna break ground for US $ 51mn hotel in Colombo

Sri Lanka’s Asia Capital PLC and Japan’s Belluna Co. Ltd. yesterday broke the ground for a US $ 51 million 4-star business hotel in Colpetty, Marine Drive. 

Laugfs boss Wegapitiya buys 6% stake in Pan Asia Bank from Nimal Perera

In a rather surprising move, Laugfs Holdings Chairman W.K.H. Wegapitiya, yesterday bought little over 27 million shares or approximately 6 percent stake in the mid-sized bank, Pan Asia Banking Corporation PLC, in a deal worth over Rs.500 million.

Rupee edges down on importer dollar demand

REUTERS: The Sri Lankan rupee closed slightly weaker yesterday on light importer dollar demand, but the currency is expected to trade in a narrow range until the market sees direction from an IMF loan tranche disbursement and sovereign bond sale, dealers said.

Sri Lanka features big in Shangri-La’s Indian Ocean push

Shangri-La Hotels and Resorts, the Hong Kong-based luxury hotel operator, revealed extensive details about its exciting pipeline of new luxury properties across the Indian Ocean and Asia at a press conference held yesterday at the Arabian Travel Market 2017, which is currently underway.

Focus on pepper to reach spice export earnings target: SAPTA

Sri Lanka having identified the spice sector as an avenue to expand its export earnings, the Spice and Allied Products and Traders’ Association (SAPTA) has urged the Primary Industries Ministry to increase focus on pepper, instead of cinnamon in fulfilling that goal.

First Colombo session on historic WTO agreement opens today

Sri Lanka’s first-ever country session for its exporters on the historic World Trade Organisation’s (WTO) Trade Facilitation Agreement (TFA) will commence in Colombo today.

Ceylon Chamber to publish Northern Province SMEs registry

The Ceylon Chamber of Commerce in its initiative to assist small and medium enterprises (SMEs) in the Northern Province is making arrangements to publish a registry of SMEs operating  in the region. 

Litro Gas Lanka steps up to provide 98 households affected by the Meethotamulla catastrophe with gas

Stepping up to the occasion during a national crisis in a proactive gesture, Litro Gas Lanka, provided 98 households affected by the Meethotamulla catastrophe with cooking effects consisting of a 12.5kg

Hayleys Plantations shines with 20 awards at Forbes and Walker Tea Awards

 Sri Lanka’s leading tea producers from the Hayleys Group, Kelani Valley Plantations (KVPL) and Talawakelle Tea Estates PLC (TTEL), recorded victories at the recently concluded Forbes and Walker Tea Awards 2016.

ACL Cables continues rise amongst ‘Top 50’ most valuable brands

Sri Lanka’s premier cable, ACL Cables PLC was ranked 41 amongst the ‘Top 50’ valuable brands for 2017, a continued ascent from last year’s ranking.  

Gestetner customers win grand prizes at final ‘Pick 2 Win’ draw

Customers who made purchases from Gestetner outlets across Sri Lanka last year were enrolled in a draw through which over 100 prizes were awarded. 

Jaguar Land Rover Beats 600,000 Sales Barrier In 2016/17

Jaguar Land Rover, the UK's largest manufacturer of premium luxury vehicles, today reported record retail sales of 604,009 vehicles (including sales from our China joint venture) in the financial year, up 

Oman Air Reveals its Annual Financial Report for the Year Ended December

Oman Air has recently published its annual report for 2016 that reflects the accomplishments achieved by the company, in addition to the outstanding efforts and the successful approach towards 

Paramount Identifies The Living Trends Of Millennials

The millennial generation, or Gen Y, is considered to be anyone born between 1980 and the late 90s. The bulk of this generation has graduated college/university. They have jobs, and are looking to live 

DPMC Regional Sales Office and Assetline Leasing Branch in Jaffna relocate at a new premise

David Pieris Motor Company Ltd., (DPMC) and Assetline recently relocated their Jaffna branches to a new location, opening a ‘New World Experience’ to its customers. 

US businesses to expand investments in Sri Lanka: FinMin

The American Chamber of Commerce has agreed to further expand investment in Sri Lanka due to the country’s economic transparency, a Finance Ministry statement said yesterday, quoting Finance Minister Ravi Karunanayake. 

Apparel exports show decline despite full order books of large-scale manufacturers

Sri Lanka’s apparel industry is currently grappling with a “strange development”, according to an industry expert, with the apparel export earning figures for the first two months of this year recording declines despite the full order books of large-scale manufacturers.

Employers seek relief over budgetary relief allowance

A group of private sector employers recently requested the government to provide further relief to them with regard to the budgetary relief allowance, which is making a massive impact on their businesses. 

NIPO calls for increased resources to fast-track SL route to Madrid Protocol

As Sri Lanka is observed to be actively preparing for Madrid Protocol Accession, the National Intellectual Property Office (NIPO) stressed the urgent need for increased resources to speed up efforts.

Court dismisses action against Agalawatte Plantations and subsidiary

The District Court of Colombo yesterday dismissed a case filed by Dr. Chris Nonis and Lalith Fonseka against Agalawatte Plantations and its subsidiary on a preliminary objection taken by the counsel of Agalawatte Plantations and its directors.  

Rupee slips on importer dollar demand; stocks fall from 6-month high

REUTERS: The Sri Lankan rupee traded weaker yesterday due to importer dollar demand while the broader market awaited positive news on the International Monetary Fund (IMF) loan and sovereign bond sale, dealers said.

Qatar Airways ranked best regional airline by Money magazine’s 2017 ‘Best in travel’

Qatar Airways was named ‘Best Regional Middle East/Africa Airline’ in Money magazine’s 2017 ‘Best in Travel’ and was named runner-up for the title of ‘Best Overall International Airline.’ 

Vallibel Finance moves Gall branch to dual access location

Financial innovator Vallibel Finance called for a double celebration as it not only relocated to its own premises in Galle but a showpiece location in the heart of the popular town. 

Stax takes on Hubway Challenge

Stax Inc, the global strategy consulting firm has taken on the Hubway Challenge. 

Etihad appoints Robin Kamark as CEO, Airline Equity Partners

Etihad Aviation Group this week announced the appointment of Robin Kamark as Chief Executive Officer, Airline Equity Partners. 

Hambantota port lease: Another look at facts and figures

In a recent full page advertisement published in some newspapers, the Chamber of Young Entrepreneurs of Sri Lanka (COYEL) has made reservations on the Hambantota port lease arrangement and had suggested a way forward without resorting to selling of national assets to a foreign party. 

Lanka Bell, IBM team up to accelerate Cloud adoption in Sri Lanka

IBM announced a collaboration with Lanka Bell to provide enterprises, start-ups, developers and government bodies cloud services via the IBM Cloud. 

BOC’s ATM network dispenses Rs.34bn during Avurudu season

The owner of the largest automated teller machine (ATM)/cash deposit machine (CDM) network in the country, Bank of Ceylon (BOC), yet again set a benchmark in the banking industry by transacting over Rs.46 billion during this Sinhala and Tamil Avurudu season from April 1 till April 14, 2017. 

SLIBFI Awards Night 2017 on April 28

Sri Lanka Islamic Banking & Finance Industry (SLIBFI) Awards 2017 will be held for the sixth consecutive year on April 28, 2017.

Arabian Travel Market in Dubai

Tourism Development and Lands Minister John Amaratunga  formally opened the Sri Lanka pavilion at the Arabian Travel Market in Dubai yesterday.  This Travel Market is one of the leading travel exhibitions in the Middle East. The Middle East contributes 8 percent of total tourist arrivals to Sri Lanka.