Tobacco giant BAT buys out US firm Reynolds in mega-deal

AFP: British American Tobacco agreed yesterday to pay almost US $50 billion for control of US peer Reynolds American in a move which targets the lucrative United States market and the fast-growing e-cigarette sector.

Tourist arrivals to Maldives up 15% in November recording highest YoY growth

Tourist arrivals to Maldives rose by 15.9 percent in November, recording its highest year-on-year (YoY) growth in 2016 to 104, 572 as the arrivals from all major regions picked up from a year ago but the visitors from China, its largest sourcing market  continued to falter, the data released by the Maldivian Department of Immigration and Emigration showed. 

Rupee marginally higher on banks’ dollar sales

REUTERS: The Sri Lankan rupee traded marginally higher yesterday in light volume as foreign banks sold dollars, but the market expects the currency to weaken after the Central Bank allowed flexibility in the exchange rate, dealers said.

Asia drives rise in 2016 world tourism numbers: UN

AFP: The number of international tourists rose by four percent worldwide to 1.2 billion in 2016 as Asians travelled more, but security fears hit visitor arrivals in Europe, the World Tourism Organization (WTO) said yesterday.

Lankan delegation in Davos says several trade pacts will be finalized by June

Sri Lanka will finalize trade agreements with India, China and Singapore by June this year, the Sri Lankan delegation attending the World Economic Forum said yesterday. 

World’s leading open source provider upbeat on Lankan prospects

As Sri Lanka attempts to gain momentum in transforming its economy with the help of digitisation, the world’s leading open source provider, Red Hat yesterday expressed confidence in its entrance to the IT landscape boosting the growth pace and efficiency of state and private enterprises.

CICRA Campus launches first Bachelor of Cyber Security degree

In partnership with Australia’s top ranked Deakin University, CICRA Campus, the pioneering cyber security training provider, is introducing the first ever Bachelor of Cyber Security degree to Sri Lanka. “Parents should consider a cyber security degree for their ambitious child as an alternative to simply following a general IT degree. Cyber security profession is growing rapidly Sri Lanka and globally,” says Boshan Dayaratne, Gr

E-tel launches high-end, 4G, curved, virtual reality smartphone in Sri Lanka

E-tel, the popular home-grown mobile phone brand in Sri Lanka, has consolidated its position in the smartphone segment withthe launch of an all-new high-end 4G smartphone with a curved display and virtual reality feature.

Hands Global unveils super smart CCTV camera bulb

Hands Global (Pvt) Ltd enters into the local market with EUROtec Smart CCTV camera bulb equipped with globally-acclaimed European technology and quality. 

VirtusaPolaris recognized by HfSResearch for emerging block chain services in BFSI

VirtusaPolaris, the market-facing brand of Virtusa Corporation and Polaris Consulting & Services, Ltd., 

JKH files first patent related to novel energy storage material

John Keells Holdings PLC(JKH) filed its first patent jointly with the Council for Scientific & Industrial Research (CSIR) – India, in the area of energy storage materials. 

‘No point’ in blaming globalisation for world’s problems: Xi

AFP: Chinese President Xi Jinping said yesterday that there is no point in blaming economic globalisation for the world’s problems, adding that no one would win a trade war.

Ceylon Chamber to hold seminar on 2017 economic outlook

The Ceylon Chamber of Commerce will line up four well-known economists along with an international relations specialist to discuss the economic outlook and its implication for business during the year 2017, with a special session on the implications of new US President Trump on the global economy and Sri Lanka.

Maldives Education and Career Expo kick-starts end March

The Maldives International Education and Career Expo will be held on three consecutive days on the 30th, 31st of March and 1st of April in Male. 

CLC online offers mobile reloads, bill payments

Commercial Leasing & Finance PLC (CLC) takes another step in the journey towards providing optimal customer convenience and satisfaction in the ever evolving business world where value creation is shifting from the conventional brick and mortar structures to relying more on intangibles.  Now CLC online users can make any pre-paid (reload) and post-paid mobile payments real-time via CLC online, which enables CLC customers with a complete

Insurance industry overall GWP grows 17% in 3rd quarter

The insurance industry was able to achieve a growth of 16.97 percent in terms of overall gross written premium (GWP), at the end of the third quarter of 2016, recording an increase of Rs.14,823 million when compared to the same period in the year 2015.

Stage set for the ground breaking of Colombo’s first ever 7-star luxury apartment – Achilleion

Blue Mountain Apartments, part of the Blue Mountain Group, is set to commence the construction of its most iconic development project to date – Achilleion, 

Leo Burnett Sri Lanka launches 8th edition of Leo Art at the Fairway Galle Literary Fest

Leo Burnett Sri Lanka, the local office of the global advertising network Leo Burnett World wide,today launched the eighth edition of its Leo Art programme

Sunquick “Drink & Win”is back again with 100 Sisil Refrigerators

Sri Lanka’s premier and number one fruit juice brand “Sunquick” has once again commenced its annual consumer promotion, Sunquick “Drink & Win”, 

EMP secures export deal with Maldives’ Fenaka Corp

Rapidly gaining recognition as a leading electro mechanical engineering solutions provider in the South Asian region, Electro Metal Pressings (Pvt)

Sri Lanka’s future growth depends on foreign investor confidence: WB

Sri Lanka’s future growth will depend on foreign investor confidence, which in turn will depend on fiscal consolidation and an end to the political deadlock between the unity government’s major parties, a World Bank report said this week.

Leading publisher says re-electing ousted politicos will justify their past actions

Re-electing the politicians who have fallen out of the seat of power will justify all past actions taken by such politicians, which would become relevant for Sri Lanka in the future, the head of a leading Indian media conglomerate said recently in Sri Lanka.

Economic relations among SAARC nations “bit of a joke” says Amunugama

The economic relations among the South Asian Association of Regional Cooperation (SAARC) countries are “a bit of a joke” compared to China’s proven track record of fuelling economic development within the South Asian region, a leading minister said recently.

Eight men own half the world’s wealth: Oxfam

AFP: Eight men own the same wealth as half the world’s population, a level of inequality which “threatens to pull our societies apart”, Oxfam said yesterday ahead of the World Economic Forum opening in Davos.

Coca-Cola interested in using Sri Lanka as production hub

The Asia Pacific heads of multinational Coca-Cola has expressed their willingness to develop Sri Lanka as a production hub to re-export their products to India.

Royal Ceramics to invest almost Rs.1bn for new kiln, machinery

Royal Ceramics PLC (RCL), Sri Lanka’s leading floor tile and bathware manufacturer, yesterday said it was replacing its existing kiln at its Eheliyagoda manufacturing plant with the press, associated machinery and building at a cost of Rs.978 million. 

Prime Lands acquires 75% of Summit Finance for Rs.510mn

Property and real estate developer, Prime Lands (Pvt.) Ltd, yesterday acquired 17 million shares or 75.54 percent of Summit Finance PLC held by Sarvodaya Development Finance Limited at a price of Rs.30 per share, aggregating to a total consideration of Rs.510 million. 

ISMM to hold landmark 25th convocation on January 22

The Institute of Supply and Materials Management (ISMM) is to conduct its 25 landmark convocation on January 22 at the BMICH.

S.P Construction clinches two FCCISL awards

S.P Construction in Chilaw bagged two awards under the category of  Differently-able North Western Provincial  and The National Winner at the recently concluded  annual Business   Excellency Awards  2016 of Federation of Chamber of Commerce and Industries Sri Lanka  held at Stein Studio in Ratmalana. 

IWW Steel Company donates school gear to workers’ children

IWW Steel, the leading steel bars manufacturing company in Sri Lanka manufactures the best quality steel bar; RS QST RB 500.