iflix wins 2016 Frost & Sullivan Asia Pacific Video on Demand Company of the Year

iflix, the world’s leading Internet TV service for emerging markets, offering subscribers thousands of TV shows, movies and more, announced the company was named the 2016 Asia Pacific Video on Demand Company of the Year by Frost & Sullivan, the world’s leading research and growth consulting firm. 

Epic Technology Group implements DAS system at Foreign Ministry

Epic Technology group has once again proved its technology dominance by re-energizing the Consular Department of the Ministry of Foreign Affairs with a state-of-the-art eDocument Attesting System (e DAS).

Mitra plans to more than double engineering team this year

Mitra Innovation is a technology innovation company based in Sri Lanka, Australia and the UK.  Born in 2012, it was set up by three Co-Founders – Ashok Suppiah (CEO), Derek Bell (COO) and Dammika Ganegama (MD), all visionaries with a passion for technology and innovation.

Nokia offers to buy Comptel for US $370mn

REUTERS: Finnish telecoms network equipment maker Nokia said yesterday it is seeking to buy company Comptel for about 347 million euros (US $370 million) to expand its software services business.

Fitch affirms SL’s ‘B+’ rating; revises outlook to stable

Fitch Ratings yesterday revised Sri Lanka’s outlook to stable from negative while affirming the country’s credit rating at ‘B+’ largely due to fiscal side improvements, stable growth prospects and policy coherence stemming from the loan arrangement with the International Monetary Fund (IMF).

SriLankan CEO says wet lease with PIA ‘most profitable’ deal in recent past

National carrier SriLankan Airlines yesterday said the leasing of one of its aircraft to Pakistan International Airlines (PIA) has been the ‘most profitable’ commercial agreement undertaken by the airline in the recent past.

CB to meet state banks over high credit growth

The Central Bank will be entering into discussions with the top management of state banks in the country through which private credit had expanded at unnaturally high rates, in a bid to cut down credit growth.

Rupee ends steady ahead of long weekend

REUTERS: The Sri Lankan rupee ended steady yesterday ahead of a long weekend as dollar sales by exporters offset demand for the U.S. currency from banks to facilitate continuing exit of foreign investors from government securities, dealers said.

Kenyan operations boost Sierra Cables 3Q profits

Leading electrical cable manufacturing company, Sierra Cables PLC (SIRA), posted a net profit of Rs.81.02 million for the quarter ended December 31, 2016 (3Q17), a 27.61 percent increase year-on-year (YoY).

Shares snap 2 days of gains; rising interest rates weigh on market

REUTERS: Sri Lankan shares closed slightly weaker yesterday, snapping two straight sessions of gains and hovering near a more than 10-month closing low hit earlier this week, as concerns over rising market interest rates weighed on sentiment.

Celebrating SL-China relations

A Chinese Cultural Fair is currently being held at the Arcade Independence to coincide with the Chinese New Year and the 60th anniversary of diplomatic relations between China and Sri Lanka.

Altair architect Moshe Safdie to visit Sri Lanka this month

One of the world’s most eminent architects, who has a unique association with Sri Lanka, will visit the country next week to grace the 35th annual sessions of the Sri Lanka Institute of Architects (SLIA).

Aitken Spence Elevators awarded ISO quality management systems certificate

Aitken Spence Elevators, the sole distributor of OTIS elevators and escalators in Sri Lanka, was recently awarded the ISO 9001:2008 certification for its Quality Management System (QMS) by SGS Lanka (Pvt) Ltd. 

Fadna attends Prod Expo international exhibition in Moscow

Food and Nature (Pvt) Ltd, well known as Fadna took part at the 24th Prod Expo international exhibition held in Moscow recently.

Celebrate Valentine’s Day with Hameedia

Committed to enhancing customer engagement, Hameedia is ensuring this year’s Valentine’s Day is extra special by offering amazing discounts and exciting opportunities for 20 couples to go on super dates that will be the most memorable yet. 

St. Regis helps save trees with new SLS-certified three-ply tea sack

St. Regis Packaging, the first company to obtain SLS certification for Rigid T Sacks and Multiwall paper sacks for bulk packaging of tea, has achieved yet another breakthrough by reducing the environmental impact of one of its paper sacks, significantly supporting the tea industry’s efforts to go Green.

Serendib Flour Mills marks successful Annual Sales Conference

Serendib Flour Mills (SFML)’s Annual Sales Conference was held successfully at the Airport Gateway Hotel recently, with the wholehearted participation of the senior management

Celebrate Valentine’s Day with Hameedia

Committed to enhancing customer engagement, Hameedia is ensuring this year’s Valentine’s Day is extra special by offering amazing discounts and exciting opportunities for 20 couples 

Amãna Takaful PLC Launches the revolutionary ‘Rhoda Uda Peraliya’ insurance scheme in South

ATL (Amãna Takaful PLC) proudly unveiled their latest revolutionary insurance schemes, ‘Smart Rider Cover’ - a compelling insurance scheme for motor bikes and ‘Tuk Tuk Full’

PM inaugurates Suwa Shakthi national loan scheme

Prime Minister Ranil Wickremesinghe yesterday inaugurated the Suwa Shakthi national loan scheme at Temple Trees to extend support to small and medium enterprises.

Sri Lanka to raise up to US $ 2.5bn via foreign loans this year

The Central Bank already has plans to raise up to US $ 2.5 billion in debt through a syndicated loan and an international sovereign bond to build the country’s foreign reserves to US $ 7.5 billion by the end of this year, the Central Bank officials said yesterday.

Finnish govt. keen to invest in Sri Lanka

Finnish Ambassador to Sri Lanka Rauli Suikkanen said that he would call leading entrepreneurs of his country to invest in Sri Lanka. 

CB Governor remains tight-lipped on actions taken against Perpetual

Although asserting that action has been taken to curtail the operations of the controversial primary dealer Perpetual Treasuries, Central Bank Governor Dr. Indrajit Coomaraswamy yesterday refused to give the details by taking refuge in the secrecy provisions afforded to the Central Bank under the Monetary Law Act.

Sri Lanka ramps up fuel imports as drought hits hydropower

REUTERS: Sri Lanka’s fuel imports in January jumped to double typical monthly levels, with the country rushing to plug an energy shortfall as severe drought hits its hydropower output, industry sources said.

Central Bank closely watching construction sector for possible bubble

The Central Bank yesterday said it remains vigilant over a possible creation of a construction bubble due to the runaway credit growth.

Application for enjoining orders against Agalawatte Plantations and subsidiary refused

An application by Dr. Chris Nonis, the former Sri Lankan High Commissioner to the United Kingdom, and one Lalith Fonseka to obtain enjoining orders against Agalawatte Plantations PLC, its directors and subsidiary Mackply, was refused by the District Court of Colombo on Tuesday. 

Laugfs emerges winner of Best Stall Representation

Laugfs Holdings was announced winner of ‘Best Stall Representation’ at the EDEX Job Fair 2017 held at BMICH recently. 

Dumb deals and threat to Asian security

The furore that erupted around President Trump’s truncated telephone call with Australia’s Prime Minister Malcolm Turnbull last week underlined the problems that not only Australia but partners from Berlin to Tokyo are now being forced to confront.

China’s debt-trap diplomacy

PROJECT SYNDICATE: If there is one thing at which China’s leaders truly excel, it is the use of economic tools to advance their country’s geostrategic interests. 

Munchee Samaga Gamata Sarana celebrates 100th milestone project

Munchee, the flagship brand of Ceylon Biscuits Limited (CBL), recently celebrated the completion of its 100th milestone project at Wavegama Kanishta Vidyalaya in Sooriyawewa, Embilipitiya.