Top professional Col. Kevin Byrne takes helm of CILT

The New Year will see a new era for The Chartered Institute of Logistics and Transport (CILT) as Lieutenant Colonel (Ret) Kevin Byrne takes over from out-going President Paul Brooks.

FinMin tells private sector to sue errant govt. agencies

Private sector companies should sue government agencies which are not fulfilling contractual obligations, Finance Minister Ravi Karunanayake urged last week, continuing his assault on the country’s public sector and officials. 

New ‘green’ fertilizer trialled on Lankan rice farms could contribute to food revolution: scientists

Thomson Reuters Foundation: A new synthetic fertiliser could help farmers to save money, boost food production and reduce planet-warming emissions, scientists have found after trialling it on rice farms in Sri Lanka. 

Watawala Plantations 3Q profit soars amid strong palm oil, tea gains

Diversified plantation company, Watawala Plantations PLC (WATA), saw its performance improving during the December quarter (3Q17) due to strong gains from the palm oil segment and improving tea prices, the interim financial accounts filed with the Colombo Stock Exchange showed.  

Sri Lanka’s 2016 FDI dives 54% as policy inconsistency weighs

REUTERS: Sri Lanka’s foreign direct investment (FDI) slumped 54 percent to reach an ‘extremely low by any standard’ level last year, the government said as inconsistent tax and economic policies weighed on offshore investments.

John Keells Hotels December profits up

John Keells Hotels PLC recorded improved financial performance for the December quarter as its Sri Lankan city hotels and Maldivian resorts showed improved occupancy, the parent company John Keells Holdings said in an earnings release. 

Cold Stores 3Q net profits up 26% as segments see strong sales

John Keells group subsidiary, Ceylon Cold Stores PLC (CCS), which has interests in consumer goods manufacturing and retailing saw both its top line and bottom-line making significant gains during the December quarter supported by stronger consumption demand, which continued unabated throughout 2016/17.

Bairaha Farms December profit up 43% over healthy sales

Sri Lanka’s pioneer chicken processing firm, Bairaha Farms PLC, posted a net profit of Rs.14.82 cents a share or Rs.237.1 million for the December quarter (3Q17), which generally sees higher sales due to festive demand.  

Changing landscapes…

An artist’s reminiscence of Colombo seafront, on display at the recently held Kala Pola 2017, before the ongoing Port City project and the Colombo International Container Terminal (CICT) altered the Sri Lankan capital’s landscape

Domino’s opens outlet in Boralesgamuwa

Expanding its presence in Sri Lanka, Domino’s opened its 23rd restaurant in Boralesgamuwa on 21st December, amidst much fanfare and celebration. 

Singer launches Moulinex MasterChef Gourmet Plus kitchen appliance

Singer Sri Lanka PLC, the leading retailer of household and electrical appliances in the country, launched the MasterChef Gourmet Plus kitchen machine, latest high-tech version to complement the kitchen machine range under renowned French brand Moulinex. 

Nature’s Beauty Creations appoints Bimal Silva as Group CEO

Nature’s Beauty Creations Ltd. (NBC) has appointed Bimal Silva as theDirector/Group Chief Executive Officer (GCEO) as a milestone endeavour in their steady vision of creating a global brand of herbal cosmetics from Sri Lanka by 2020. 

Green Energy Champion Project ends on high note

President Maithripala Sirisena and German Ambassador to Sri Lanka and the Maldives Jörn Rohde officially handed over the facilities awarded for the winner of the Green Energy Champion competition, including a solar PV system, which now powers the Ananda College hostel, at a ceremonious event tagged ‘Harithananada’. 

3WC to launch first int’l Black Belt in Retail Programme in Sri Lanka

3WConsulting (3WC), Sri Lanka’s leading enterprise renewal and management consultants, together with the Global Retail Association (GRA) has announced the launch of the international Retail Mastery Programme, which will introduce the country’s first International Black Belt in the Retail Series. 

German Embassy Colombo funds Vote for a Woman project

On January 17, 2017, Ambassador Jörn Rode participated in the opening ceremony of the awareness campaign, Vote for a Woman, a project of the Centre for Policy Alternatives (CPA), which is funded by the Federal Republic of Germany. 

JCI Sri Lanka appoints new Director Marketing

Junior Chamber International (JCI) Sri Lanka appoints Christopher Wijeyakulasuriya as Director Marketing to the National Board. 

CCC to hold seminar on capital structure management

The Ceylon Chamber of Commerce (CCC) will hold a seminar under the title of ‘Capital Structure Management for Better Financing’ in  a bid to help the finance sector professionals maintain a healthy capital structure in their firms.

Agri seminar today

The Marga Institute and Gamani Corea Foundation are conducting a seminar on ‘The Future of Agriculture in Sri Lanka and Food Security’ today, from 3:30 p.m. to 6:30 p.m., at the BMICH Committee Room D.

Hemas and GAC break ground for integrated logistics facility

The Hemas Group together with the GAC Group Sri Lanka are planning to build a modern, 15-acre integrated logistics facility in the Muthurajawela Industrial Zone, with a state-of-the-art distribution centre, container yard and a warehouse facility.

Finance ministers meet

UK Finance Minister Philip Hammond (L), Luxembourg’s Finance Minister Pierre Gramegna (C) and French Finance Minister Michel Sapin attended the Economic and Financial (ECOFIN) Affairs Council meeting at the European Council, in Brussels yesterday. AFP

UN food agency hopes for continued US funding

AFP - The head of the World Food Programme said she was hopeful of continued US funding for the organisation, despite reports that Washington was mulling heavy cuts in financial support.

India’s largest trade chamber ASSOCHAM keen to invest in Northern Province

India’s largest trade chamber, the Chamber of Commerce and Industry of India (ASSOCHAM) expressed its interest in investing heavily in the Northern Province during the Jaffna International Trade Fair which was held recently, a communiqué from the Industry and Commerce Ministry said.

Temasek fund invests US$800 mn in Alphabet subsidiary

AFP - Singapore-based sovereign fund Temasek will invest US$800 million in Verily, the Alphabet subsidiary focused on healthcare announced on Thursday.

Steuarts Town House Tea Lounge ties up with Skrumptious

Steuarts Town House Tea Lounge recently tied up with Skrumptious to offer a range of brownies to further enhance and tantalize your taste buds. 

Sri Lanka Insurance organises Pirith ceremony for 55th anniversary

An all-night Pirith chanting ceremony was organised at Sri Lanka Insurance (SLI) recently as part of the religious observances to commemorate the organisation’s 55th anniversary and to invoke blessings on the SLI, its staff and customers and all Sri Lankans.

Rupee steady in thin trade

REUTERS: The Sri Lankan rupee traded steady in thin volume yesterday as dollar selling by exporters and inward remittances outpaced demand for the U.S. currency from importers, dealers said. 

Most Asia markets up, Tokyo lifted by weak yen

AFP - Most Asian markets rose again yesterday following another positive lead from Wall Street, with Tokyo boosted by a plunging yen, although traders remain nervous about the outlook for global trade with Donald Trump in the White House.

Nolimit launches Topller travel trousers

Travelling just got a lot more stylish and hassle-free with Nolimit’s one of a kind Topller travel trousers, especially designed for the frequent traveller with keen sartorial sense.

EU slaps China with new steel anti-dumping duties

AFP - The EU slapped definitive anti-dumping duties on steel products from China and Taiwan yesterday, as it broadens its campaign to protect struggling steel manufacturers in Europe.

Montblanc and Baume & Mercier global brands celebrate 2 plus years at Turret

Turret, a designer store catering to brand-conscious clientele for luxury watches, gems and jewellery, is the authorized retailer in Sri Lanka for such globally renowned brands as Montblanc, Baume & Mercier, Raymond Weil, Jewel Laurel and 88 Rue Du Rhone in addition to the famous clot