Nissan Concept 2020

This past June at the Goodwood Festival of Speed, we whisked the cover off the most radical concept car we’ve ever built: the NISSAN CONCEPT 2020 Vision Gran Turismo.

Turkish delight in Colombo

Colombo’s culinary offering will expand into new regions on the world from Thursday, with the opening of the Capital’s first Turkish restaurant. 

Kelum Weligama’s launches new novel ‘Persona’ via Sri Lanka’s first online book launch

Acclaimed Author Kelum Weligama is set tounveil his latest work ‘Persona’ by means of a virtual book launch - the first in Sri Lanka’s publishing history - on 25 February 2017

TBWA\ Sri Lanka Hosts Regional Ceo And Executive Creative Directors’ Meetings

TBWA\Asia’s recently concluded first quarter management meeting kicked off in Sri Lanka, hosted by Renuka Marshall, TBWA\Sri Lanka, Managing Director and Subhash Pinnapola,

Tax hike on milk imports no solution to boost local dairy industry: Fonterra

As Sri Lanka continues to struggle in improving its dairy industry, the leading global milk processor, Fonterra, stressed tax hikes on milk imports are not the way forward to boost the local capacity as such moves would eventually lead to a scarcity of milk and milk-based products, given the growing demand.

Sri Lanka-based airbag sensor maker to buy Japan parent

ECONOMYNEXT: Lanka Harness, a Sri Lanka-based precision technology company that makes airbag sensors and seat belts, plans to buyout its parent Ito Springs of Japan.

Sri Lanka to raise at least US $ 450mn from 3-year loan

ECONOMYNEXT: Sri Lanka will raise at least US $ 450 million from a syndicated loan for which the government has selected six banks, a media report said.

Cargills 3Q net profit soars 97% to Rs.637mn

The retailing and fast-moving consumer goods (FMCG) giant, Cargills (Ceylon) PLC, posted a net profit of Rs.636.84 million for the third quarter ended December 31, 2016 (3Q17) recording a 37.52 percent increase year-on-year (YoY).

Rupee falls on importer dollar demand; dealers see more pain ahead

REUTERS: The Sri Lankan rupee ended weaker yesterday on importer dollar demand as local traders bought the US currency as a precaution amid concerns of a steep depreciation in the rupee in the absence of Central Bank intervention, dealers said.

Shares edge up as investors pick up bank stocks

REUTERS:  Sri Lankan shares rose slightly yesterday from a more than one-week closing low hit in the previous session as investors bought banking shares, but concerns over rising interest rates weighed on sentiment.

Sweden’s Axis awards Prima Management Services ‘Solution Gold Partnership Certificate’

Prima Management Services (Pvt.) Limited (PMS), a leading IT solutions company, became the first Sri Lankan company to be awarded the ‘Solution Gold Partnership Certificate’ by Sweden-based Axis Communications, a leader in  network video.

People’s Leasing & Finance appoints Ahmad Ibrahim as CEO-Designate

People’s Leasing & Finance PLC has appointed Ahamed Sabry Ibrahim as the CEO-Designate with effect from November 15, 2016, as the long-standing CEO D.P. Kumarage is set to retire.  

Implications of sharply rising global LPG prices for Sri Lanka

The international prices of liquefied petroleum gas (LPG) have been rising sharply over the last few months, breaking away from a relatively stable trend seen in the recent times, which may suggest that a permanent shift in prices is taking place.

NCE-ILO renew contract for LEED project

The National Chamber of Exporters of Sri Lanka (NCE) renewed its commitment to support the economic development activities of the Northern Province, to enhance the income of the people by conducting an awareness programme for  non-member exporters.  

Aitken Spence reaffirms support to CA Sri Lanka with lead sponsorship

Leading blue chip conglomerate, Aitken Spence PLC has once again reaffirmed its support to the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) with yet another  lead sponsorship. 

Dr. Priyantha Wijayatunga appointed as ADB South Asia Energy Division Director

Dr. Priyantha Wijayatunga, former Director General of the Public Utilities Commission of Sri Lanka (PUCSL) and a Senior Professor of Electrical Engineering at the University of Moratuwa, has been appointed as Director South Asia Energy Division of the Asian Development Bank (ADB). 

DFCC Bank 4Q profit jumps 74% but core banking under pressure

Specialized project financier turned a fully-fledged commercial bank, DFCC Bank PLC, saw its December quarter (4Q16) earnings soaring 74 percent from a year ago to Rs.759.1 million or Rs.2.86 a share, largely supported by trading and other incomes, provision reversals and notable decline in overheads other than staff costs, the interim results showed. 

Colombo City Centre architects present ideas for the city of tomorrow

“It may be more prudent to create high-density clusters of multifunction spaces and transport hubs than a continued urban sprawl,” architect Simon Griffiths from the UK said, speaking at the 34th National Conference on Architecture recently.

Swift construction progress places Astoria towards timely completion

The Aviation Industry Corporation of China (AVIC), a Global 500 company with its subsidiary company, AVIC International Hotels Lanka Limited, had recently produced a progress update with regards to the upcoming formative construction project of the AVIC Astoria in Colombo 3.

ProMate exercise books create new sales record

ProMate, the leading Sri Lankan brand of exercise books, manufactured in compliance with international standards, established a new sales record during the last school term, Printxcel (Pvt.) Ltd Chief Operation Officer Nalinda Jayamanne said.

Global Lift and Escalator Expo kicks off today

The emerald island gets opportunities for expanding the elevators and escalators market.   

NDB mulls fresh capital infusion as December quarter profits slip 42%

The National Development Bank PLC (NDB) group, a leading project lender in the country, saw its performance being negatively affected by the rising interest rates as the loan growth slowed significantly while the margins remained stubbornly lower as the low-cost fund base narrowed.

India cenbank policy panel cites concerns about inflation

REUTERS: The Reserve Bank of India’s six-member monetary policy committee cited concerns about inflation in holding rates in February, with three mentioning the need to shift the policy stance to “neutral” from “accommodative,” minutes from the meeting showed.

Capitalising on Sri Lanka’s location to manage disasters and achieve SDGs

The new Secretary General of the United Nations took office on January 1, 2017. Antonio Guterres, in his New Year’s message for 2017, publicly called for one shared resolution: to make 2017 the year of peace. Disasters threaten stability and peace. As disasters are ineveitable, frameworks and treaties are in place to mobilise a concerted international effort to minimise the impacts of disasters.

EPIC Technology on show at Mobile Money & Agent Banking Summit in Myanmar

Sri Lanka’s premier and award-winning technology conglomerate, Epic Technology Group, synonymous for innovative world-class technology solutions, was on show at the eighth Annual Mobile Money & Agent Banking Summit 2017, held in Myanmar on February 21 and 22.

CMA integrated reporting workshop on Feb. 28

The Institute of Certified Management Accountants of Sri Lanka (CMA)-organised ‘Integrated Reporting - Practical Aspects’ workshop will be held on Tuesday, February 28, 2017, at Taj Samudra, Colombo, from 1:30 p.m. to 5:00 p.m. 

Shanghai tops Tokyo as Asia’s property investment destination of choice

CNBC: The Chinese city of Shanghai has become the top destination for real estate investment in Asia Pacific, squeezing out Tokyo from the number one spot in the fourth quarter of last year, according to data from JLL.

‘America First’ is unlikely to shake up Asia Pacific

President Trump’s ‘America First’ doctrine is a vigorous argument to change the United States’ actions at home and abroad while departing from the US post-war order that Trump argues left many US workers behind. 

JAT Holdings showcases range of innovative products at Architect Exhibition 2017

JAT Holdings participated in the acclaimed Architect Exhibition 2017 and introduced a plethora of innovative and revolutionary products to the Sri Lankan market. 

Five predictions for clean energy in 2017

2016 was a successful year for clean energy. How will 2017 shape up? I make five predictions based on last year’s numbers and trends.