Sri Lanka eyes China free trade deal this year, PM to visit in May

REUTERS: Sri Lanka aims to finalize a free trade agreement with China this year and the country’s Prime Minister will visit Beijing in May, the Sri Lankan Ambassador said on Saturday, amid rising concern in the South Asian nation about Chinese investment.

Hayleys Fabric December profits down 83%

The Hayleys group knitted fabric manufacturing unit, Hayleys Fabric PLC, reported a net profit of 6 cents a share for the quarter ending December 2016, against 34 cents a share recorded during the same quarter last year, the interim report of the company showed. 

Lankan tyre exports to US to be slapped with anti-dumping duties

Certain new pneumatic off-the-road tyres imported to the US from Sri Lanka and India will shortly be subjected to anti-dumping and countervailing duties following a recently concluded United States International Trade Commission (USITC) investigation.

January tourist arrivals up 13% despite partial airport closure

Tourist arrivals to Sri Lanka this January grew by 12.9 percent year-on-year (YoY) to 219,360, despite the country’s main airport in Katunayake being closed for a considerable period of time.

Kireizuki approach to quality and productivity

The Japanese are known for their obsession with cleanliness. They are also known for their high quality and productivity. There is obviously a connection. 

Senkadagala Finance to raise Rs.580mn via rights to remain capital-rich

Senkadagala Finance PLC, a licensed finance company with an asset base of just under Rs.29 billion last week announced its plans to raise equity capital via a rights issue to maintain the minimum regulatory capital requirements, a disclosure to the Colombo Stock Exchange said. 

Expolanka sees tougher conditions as December profits fall

Diversified freight and logistics firm, Expolanka Holdings PLC, saw its December quarter (3Q17) performance being hampered through the “challenges arising from constrained returns from passive investments combined with the impact of a drop in exchange gains”, the interim report filed by the company said. 

LOLC to introduce microfinance model to Pakistan

Sri Lanka’s leading non-banking financial institution, Lanka Orix Leasing Company (LOLC), saw its unique microfinance model being accepted to be applied in yet another regional market.

FinMin chief guest at SL-ADB 50-year partnership ceremony today

Finance Minister Ravi Karunanayake will be the chief guest on the occasion of the celebration to mark the 50 years of Sri Lanka’s partnership with the Asian Development Bank (ADB).

London and Home Counties retains MTI Consulting

The London and Home Counties (LHC) region of the Club Managers Association of Europe (CMAE) retained MTI Consulting, whose Senior International HR Consultant Darshan Singh was in London this week for this initiative. 

KOPIA Sri Lanka Centre facilitates onion production

The Korea Programme on International Agriculture (KOPIA) Sri Lanka Centre donated 25 drip irrigation system units, 40 power spreading machines and 1,000 plastic containers to transport onion mother-bulbs for vernalization to a total of 40 Sri Lankan farmers in Gelenbindunuwewa, Hambantota and Mannar.

Trade deficit widens 33% as exports slow down

Sri Lanka’s external trade deficit widened by 32.9 percent year-on-year (YoY) to US$ 1.05 billion last October, as a 2-month export growth spurt slowed down, while importation of equipment for the Colombo Port City project boosted imports.

Footwear and Leather Fair

Industry and Commerce Minister Rishad Bathiudeen checking out some items on display at the 9th Footwear and Leather Fair 2017 at BMICH yesterday.  Pic by Kithsiri de Mel

Asia markets struggle at end of volatile week

AFP- Asian traders moved cautiously yesterday, at the end of a volatile week and following another tepid lead from Wall Street while focus shifts to the release later in the day of US jobs figures. Markets have struggled to find stability over the past five days following Donald Trump’s controversial ban on travellers from seven Muslim-majority countries and claims that China and Japan were currency manipulators.

Gold shines in 2016 on keen investment demand: WGC

AFP - Demand for gold rose in 2016 to a three-year high, aided by keen investment appetite for the precious metal, the World Gold Council said yesterday in a report.

Rupee falls on dollar demand from importers, banks

REUTERS: The Sri Lankan rupee fell yesterday due to dollar demand from importers and banks as foreign investors continued to sell government securities, dealers said.

THEFACESHOP holds makeup workshop with Ramzi

THEFACESHOP recently held the ‘Get Glamorous’ makeup and beauty workshop on 17th December at the Colombo Racecourse. 

Hyundai to assemble cars in Pakistan in venture with textile group Nishat Mills

REUTERS: Hyundai Motor Company plans to set up a car assembly plant in Pakistan in a joint venture with Pakistani textile giant Nishat Mills, a Nishat Mills official said yesterday. 

Citrus Waskaduwa wins 2017 Tripadvisor Travelers’ Choice Award

Citrus Waskaduwa was recently awarded the 2017 TripAdvisor Travelers’ Choice award in the category of ‘Top Hotels’, ranking within the top 25 hotels in Sri Lanka. 

Japan pension funds denies investment as sop to Trump

AFP - Japan’s public pension fund on Thursday denied a report it will invest in US infrastructure as part of Prime Minister Shinzo Abe’s expected offer to President Donald Trump to help boost US employment.

China’s neighbours and quest for regional community

China’s meteoric rise has put the spotlight on the relationships it shares with its neighbours. Distinct national interests and the substantial social and political diversity in the region make the development of a regional community a complex and delicate task.

Emirates opens access to premium lounges at Dubai International Airport

Emirates has launched an additional privilege to extend the usage of its luxury lounges at Dubai International Airport to its loyalty programme members and their guests at a minimal fee regardless of their class of travel. 

Shares hit 10-mth low ahead of cbank policy review

REUTERS: Sri Lankan shares fell to a 10-month low yesterday, dragged down by banking and beverage stocks, 

Cool Planet launches ‘Sky High’ loyalty card with Emerald brand ambassadors

The sky is the limit for Cool Planet’s loyal customers as they will now be offered a fabulous opportunity to avail themselves of amazing privileges and added bonuses through Cool Planet’s premier loyalty card ‘Sky High’

CIM SL participates at EDEX for 11th consecutive year

The Chartered Institute of Marketing, Sri Lanka participated at the EDEX Expo exhibition, Sri Lanka’s largest education and job fair held at the BMICH Colombo from 20th to 22ndJanuary. 

SampathCards hosts Signature and Infinite credit cardholders to ‘AlokoUdapadi’ movie premiere

SampathCards by Sampath Bank hosted 250 Signature and Infinite credit cardholders to a special movie premiere screening of ‘AlokoUdapadi’. T

India looking at strengthening bilateral ties with Sri Lanka via proposed trade pact

The Indian High Commissioner in Sri Lanka this week had said hopes Sri Lanka and India to sign the proposed trade pact without further delay, in order to strengthen bilateral ties between the two countries, a Finance Ministry communiqué said.

NCE launches 25th anniversary annual export awards application

The National Chamber of Exporters of Sri Lanka (NCE) which is the only private sector Chamber exclusively serving Sri Lankan exporters launched the revised application of the 25th anniversary annual export awards ceremony,

Home Store Gallery opens showroom in Kohuwala

Home Store Gallery, located in Kohuwala is just the right place to help you find contemporary household amenities at reasonable prices.

Celebrating Independence

A paratrooper from the armed forces descends on Galle Face Green during rehearsals for the Independence Day parade held yesterday, while activity goes on in the background on the land reclaimed for the US$ 1.4 billion Colombo Port City project.