Dole Lanka terminates services of labour outsourcing firm

Dole Lanka (Pvt.) Ltd – a subsidiary of Dole Asia Holdings Pte., the world’s largest producer and marketer of high-quality fresh fruits and fresh vegetables, recently terminated the contract with one of its labour outsourcing companies, Southern Force Ltd.

Economists say govt. policy reforms ad-hoc, unsystematic

The government’s current reform agenda is both ad-hoc and unlikely to be completed, according to a panel of economists who said this could exacerbate the current low growth climate, adding to the woes of a volatile coalition administration.  

3W Consulting to Launch the First International Black Belt in Retail Program in Sri Lanka

3WConsulting (3WC), Sri Lanka’s Leading Enterprise Renewal and Management Consultants, together with the Global Retail Association (GRA) 

Sail Lanka Charter hosts the Prime Minister of Sri Lanka on board their latest luxury catamaran

Sail Lanka Charter hosted Prime Minister Ranil Wickremasinghe and his wife on-board their 53ft sailing catamaran, Sapphire, during the Fairway Galle Literary Festival

Three-wheeler registrations slump as new leasing levels come into effect

The registration of three-wheelers has nosedived to a quarter of the previous levels since the new loan-to-value (LTV) ratios for automobile financing came into effect this month, according to an industry expert.

Harsha hails China as new white knight of free world

Sri Lanka’s Deputy Foreign Affairs Minister Dr. Harsha de Silva this week labelled Chinese President Xi Jinping as the new champion of trade and globalization of the free world, who would fill the vacuum created by US President Donald Trump with his inward-looking political and economic policies.  

Energy regulator wants CEB to fast-track connecting domestic solar panels to national grid

The electricity sector regulator, the Public Utilities Commission of Sri Lanka (PUCSL), yesterday directed the Ceylon Electricity Board (CEB) and Lanka Electricity Company Private Limited (LECO) to connect the domestic rooftop solar panels to the national grid within two weeks from the date of application.

US TPP withdrawal has negative implication on Asian economies: Moody’s

US President Donald Trump’s decision to withdraw the US from the Trans-Pacific Partnership (TPP) would have an adverse effect on the income levels and structural reform programmes of its partners in Asia, international ratings agency Moody’s Investors Service said yesterday.

Rupee rises; cbank revises spot ref. rate to record low

REUTERS: The Sri Lankan rupee ended slightly firmer yesterday, recovering from losses earlier in the day as dollar selling by foreign banks helped gains despite the Central Bank revising the spot reference rate by 10 cents to a record low, dealers said.

Mattala Airport in full throttle

Mattala Rajapaksa International Airport (HRI), which was once dubbed as a ghost airport by both local and foreign commentators, has suddenly turned into life becoming one of the busiest airports in the world, due to the temporary closure of Bandaranaike International Airport (BIA) for the relaying of its decade-old runaway. 

Grain Elevators 4Q net edges down; full-year profit up

Sri Lanka’s largest listed poultry producer, Ceylon Grain Elevators PLC (GRAN), has posted a net profit of Rs.369.12 million for the quarter ended December 31, 2016 (4Q16), down from Rs.387.94 million year-on-year (YoY), despite the period being the festive season.

Shares hit near 10-mth closing low; foreign selling boosts turnover

REUTERS: Sri Lankan stocks fell for a third straight session yesterday to close at their lowest in nearly 10 months, dragged down by beverages and banking shares, as concerns over rising interest rates and ongoing political instability weighed on sentiment.

Blue Mountain Apartments launch latest residential project ‘Avalon – Colombo 5’

Following the success of sold out projects, Grandsburg in Colombo 7 and ‘Sovrano 39’ in Kohuwela, Blue Mountain Apartments recently launched its latest real estate project – Avalon in Colombo 5.  Avalon is an affordable luxury apartment complex with 18 units, located in Somadevi Place, Colombo 05. 

FinMin to open 10,000MT Mannar storehouse today

Another proposal in budget 2017 will become a reality when a new storehouse in Mannar is opened with the patronage of Finance Minister Ravi Karunanayake and with the participation of several other ministers today.

Insee Cement signs MoUs with three Lankan universities

Cement manufacturer Insee Cement, formerly known as Holcim (Lanka) Ltd recently entered into partnerships with three Sri Lankan universities - Peradeniya, Moratuwa and Ruhuna for research and development, where they also announced that they will be investing around US $ 15-20 million for this year.

Keerthi Gunawardane reappointed as ICCSL Chairman

At the 50th Annual General Meeting of the International Chamber of Commerce Sri Lanka (ICCSL) Keerthi Gunawardane was re-elected as Chairman. 

Microsoft offers support to govt.’s digitalization drive

Prime Minister Ranil Wickremesinghe recently met with Jean-Philippe Courtois, President of Microsoft International, on the sidelines of the 47th Annual World Economic Forum in Davos, Switzerland. 

The imminent threat from protectionism

By Trade has been stuck for a while now. That matters for Asia: the region’s economy has been built on trade and despite the lacklustre demand in the West over recent years and the pivot to local leveraged-fuelled demand,

SLID poses question on women in boardroom, “Are men ready for it?”

Join the Sri Lanka Institute of Directors (SLID) at the Cedar Room, Cinnamon Grand today and get the directors’ perspective

Ex-Sampath Bankers Club completes first CSR project

Ex-Sampath Bankers Club completed its first CSR project when it set up a children’s library at a school that lacked many facilities. 

Swadeshi Khomba illuminates Keragala Raja Maha Viharaya

The Swadeshi Industrial Works PLC has sponsored the ‘Aloka Poojawa’ of the historic Keragala Raja Maha Viharaya for the Duruthu full moon Poya day. 

Unilever Pureit launches awareness campaign on clean drinking water

This week in an opening to an island-wide campaign that will unfold through this year to address the importance of clean drinking water, Unilever Pureit launched the‘Simple Water Challenge.’ 

Building Specifiers Conference to be held on Jan 31

Colombo School of Construction Technology (CSCT), Sri Lanka and Showcraft International Pvt. Ltd., Sri Lanka associated with Futurex Trade Fair and Events Pvt. Ltd., India, announced the upcoming conference under the umbrella of Building Specifiers  Conference 2017. 

Habitat for Humanity to build houses for Aranayake landslide victims

Habitat for Humanity Sri Lanka (HFHSL) has partnered with Alwaleed Philanthropies in an initiative to rebuild the lives of families affected by landslides caused by Cyclone Roanu, in May 2016. 

Abans celebrates festive cheer and joy at St. Mary’s Childrens’ Home

Abans staff of ABS GDH kept the Christmas spirit alive and well as they collectively worked towards spreading the joy this season at the St Mary’s Children’s Home in Kochchikade. 

Huawei launches phablet MediaPad T2 7.0

Huawei, a leading smartphone brand in Sri Lanka introduced the Huawei MediaPad T2 7.0 to the Sri Lankan public. 

What does Trump mean for Asia?

The incoming Trump administration may promise a rewriting of the US-backed liberal world order in place since the end of World War II. Based on campaign promises and post-election statements, Trump promises either taking on a highly aggressive outward stance or turning the US strategically inward as it reverses the US participation in international affairs.

Samsung says batteries caused Note 7 fires

REUTERS: Samsung Electronics Co Ltd indicated on Monday that its latest flagship Galaxy S smartphone could be delayed as it pledged to enhance product safety following an investigation into the cause of fires in its premium Note 7 devices.

Etisalat continues to support Sri Lanka’s Twitter community

Since 2011 Etisalat has been part of activities such as Social Media Day and Twitter Premier League Sri Lanka. 

Can Sri Lanka join Asian supply chains?

President Trump’s pledge to put America first during a global trade slowdown has sparked worries that the era of export-led growth has ended. Trade in Asia and globally has slowed since the 2008 global financial crisis but it is not the end of export-led growth. The real issue, however, is whether Sri Lanka can follow East Asia’s success in global supply chains amid slower trade growth and a likely rise in protectionism.