Pest managers hold first AGM

The first Annual General Meeting of the Pest Managers Association of Sri Lanka was held yesterday. About 38 registered companies attended the event. The following office bearers elected to lead the Association during year 2017. (Photo credit:Travis Ferreira)

Foundation laid for Nestlé Lanka’s Rs.5bn factory expansion

Foundation stone laying ceremony of the Nestlé Lanka’s newest state-of- the-art factory in Pannala took place yesterday with the participation of President Maithripala Sirisena and many other distinguished invitees.

Sri Lanka decades behind ETCA with India, just catching up now: economist

Sri Lanka is at least three decades behind in getting into a much deeper trade, services and investment agreement with India

New laws to give resident visas for foreigners bringing big bucks

The Sri Lankan government will be legislating new laws to allow foreign investors to obtain residency in Sri Lanka easily, Finance Minister Ravi Karunanayake told a media briefing yesterday.

Access Engineering invests Rs.2.3bn in mixed development project

Diversified conglomerate and construction giant, Access Engineering PLC said it invested Rs.2.3 billion in a mixed development project jointly developed with Singapore’s Mustafa’s (Pte) Ltd and China Harbour Engineering Company (Lanka) Limited.

September export earnings up; trade deficit narrows 12%

Sri Lanka’s external sector performance improved in September 2016 as exports grew for the second consecutive month and tourist earnings rose narrowing the trade deficit, data released by the Central  Bank showed.

European Commission proposes GSP Plus to SL

The European Commission, the executive body of the European Union (EU), yesterday proposed to restore the special concessions under the Generalized Scheme of Preferences Plus (GSP Plus) for imports from Sri Lanka in exchange of an improved human rights and labour record. 

Dr. Coomaraswamy to deliver CA Sri Lanka 21st Annual Tax Oration

Central Bank Governor Dr. Indrajit Coomaraswamy will deliver the 21st Annual Tax Oration organised by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) on January 19, 2017.

CMA-UoM to set construction standards for condominium development

The Condominium Management Authority (CMA) joined hands with the University of Moratuwa (UoM) to conduct research work in setting construction standards in the development of condominiums in Sri Lanka.

LTL Transformers procures Rs.600mn contract in Pakistan

LTL Transformers Ltd (LTLT), Sri Lanka’s internationally-acclaimed transformer manufacturing company, has procured an order for the supply of 1,000, 11 kV/200 kVA distribution transformers, to the value of Rs.600 million, to the Lahore Electricity Supply Company (LESCO) in Pakistan.

SriLankan Airlines ensures easy passage for passengers

SriLankan Airlines is pleased to note that despite the closure of the runway during the daytime hours from 6th January to 6th April 2017, its services and operations at the Bandaranaike International Airport in Katunayake are proceeding seamlessly, with minimal inconvenience for both inbound and outbound tourists. 

SL further strengthens anti-money laundering drive

In terms of the provisions of the Financial Transactions Reporting Act, No. 6 of 2006 (FTRA), the Financial Intelligence Unit (FIU) of Sri Lanka entered into a memorandum of understanding (MoU) with the Registration of Persons Department yesterday, 

Cellcity introduces innovative Xiaomi mobiles to Lankan market

Leading Sri Lankan mobile phone distributor Cellcity Lanka (Pvt.) Ltd has been at the forefront of the local tech market and keeping to this, has announced the introduction of yet another world-class mobile brand – Xiaomi – to Sri Lanka. 

Huawei Consumer Business Group expects robust 2016 performance

Huawei Consumer Business Group (CBG) revealed its expected 2016 annual performance figures. For 2016, CBG predicts sales revenue of 178 billion RMB, 42 percent up from a year ago, achieving steady growth for the fifth consecutive year.

All-time record tea prices galore

Abbotsleigh estate, situated in the Hatton region and selling under the garden mark Florence, has achieved an all-time record price of Rs.550 on two invoices of BP1 in the CTC high category at the weekly tea auction held on January 10, 2017.

Emirates A380 returns to Narita, Japan

Emirates will resume its flagship A380 service between Dubai and Narita from 26 March 2017.  This follows the airline’s recent A380 deployment to Moscow, and will take place after the upcoming launch of A380 services to Johannesburg. It will also coincide with the launch of A380 services between Dubai and Casablanca.

Central Bank to publish new indices on property, wages

The Central Bank is to publish new indices on property prices going forward while modifying the existing wage indices in a bid to enhance the statistical inputs used in policymaking at the Central Bank and also to better track the various developments in the private sector. 

Gulf Air’s on time punctuality garners top ranking in 2016

Gulf Air, the Kingdom of Bahrain’s national carrier, has been independently ranked by UK aviation analysts OAG the most punctual airline in 2016, amongst GCC airlines, with an average on-time performance (OTP) of 82.7 percent. 

China’s Pakistan project: a geopolitical game-changer

China’s One Belt One Road (OBOR) initiative is carving out new pathways across the Eurasian continent, signifying Beijing’s ambitions to remake the world around it.  This project, if implemented, will fundamentally change China’s role and relationships in South Asia, perhaps in some ways that are not intended.

WhatsApp, Gmail roped into tougher EU privacy proposal

REUTERS: Online messaging and email services such as WhatsApp, iMessage and Gmail will face tough new rules on how they can track users under a proposal presented by the European Union (EU) executive on Tuesday.

Sri Lanka should foster strong regional economic partnerships: Outgoing JAAF chief

Following is the full speech delivered by the outgoing Joint Apparel Association Forum (JAAF) Chairman Noel Priyathilake during the 13th JAAF AGM held last month. 

Kuwait Airways’ Big Sale is back

Kuwait Airways the national carrier of the State of Kuwait has re-introduced the much hyped Big Sale offer from 09th January. 

SL delegation arrives in Thailand for 4th Bangkok talks

As major changes are sweeping the 42-year long historic Asia Pacific Trade Agreement (APTA – also known as Bangkok Agreement), a top official delegation left Sri Lanka on January 10 to attend the latest Bangkok Agreement talks in Thailand.

UTE Engineering Services achieves official recognition with ISO 9001:2015

United Tractor & Equipment (Pvt) Limited (UTE) is one of the first companies in Sri Lanka in the power generation engineering solutions sector to successfully achieve the new ISO 9001:2015 certification standard for sales and marketing of power generators with related engineering solutions.

Etihad Airways introduces third daily flight to Riyadh

Etihad Airways is introducing a third daily flight on the Abu Dhabi – Riyadh route, effective 1st February.

Linea Aqua obtains WaterNeutral certification for Hanwella factory

Leading swimwear manufacturer Linea Aqua (Pvt) Ltd announced its latest landmark accomplishment in the field of environmental sustainability through obtaining WaterNeutral certification for its Hanwella factory, thereby making it the first apparel manufacturing facility in the world to have achieved this status. 

Sri Lanka to raise US $ 1.5bn through bonds in new year

AFP: Sri Lanka announced yesterday it would raise US $ 1.5 billion through a domestic bond sale this year as it moves to rebuild its foreign exchange reserves.

JLanka wins big at Entrepreneur Awards

Dr. Mayura Jayasoma, CEO and Technical Director of JLanka Technologies was recognized for his entrepreneurial vision by the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL), at the Sri Lankan Entrepreneur of the Year Awards ceremony held at Stein Studio Rathmalana. 

JITF: An opportunity to reap benefit from emerging North

The Jaffna International Trade Fair (JITF 2017), the largest consumer exhibition and trade fair in the fast-growing northern region of Sri Lanka, will be held from January 27 to 29, 2017 for the eighth consecutive year, with all arrangements in place to make it a great success for private and public sector companies, suppliers, buyers/procurers, academics, students and the public.

DFCC Bank’s branch network further strengthened in the New Year

DFCC Bank is adding six new branches to its growing network this month, further strengthening its island-wide presence.