Cuba offers rum to pay debt to Czech Republic

AFP - Cash-strapped Cuba has offered to pay its old debt to the Czech Republic with goods it can spare, including its coveted rum, the Czech finance ministry said Friday.

CA Sri Lanka’s second Business Plan competition to begin in January

Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) announced that the second Business Plan competition will get underway in January next year, in which the  winning team  will be given the opportunity to take part in the Case Study Competition organized by the Queensland University of Technology  held in May 2017 in  Brisbane, Australia.

Transnational Group creates another strategic presence in Sri Lanka

Leading Asian logistics, BPO, cash management, software development and integrated technology solutions provider, Transnational Group, has created yet another strategic presence in Sri Lanka as Transnational Technology Solutions Lanka (Pvt) Limited, to help Sri Lankan corporates and industry accomplish its automation goals.

Gulf Air rolls out Colombo schedule

Following its recent announcement of the addition of the Sri Lankan capital city Colombo to its network of destinations, Gulf Air, the national carrier of the Kingdom of Bahrain, has now rolled out its flight timetable for its five weekly flights.

Emirates touches down in Fort Lauderdale, South Florida

Emirates has launched its 11th destination in the United States with the start of a daily nonstop passenger service between Dubai and Fort Lauderdale-Hollywood International Airport. A VIP delegation and a contingent of international media were aboard the inaugural flight, which carried passengers from North America, the Far East, the Middle East, South Asia, the Asian subcontinent and Africa.

Kuwait Airways welcomes first of 10 Boeing 777-300ER

Kuwait Airways, the national carrier of the State of Kuwait, has confirmed the first of 10 ordered Boeing 777-300ER aircraft has arrived in Kuwait, landing at Kuwait International Airport.

EU to support Lanka’s investment promotion drive

 The European Union (EU) has pledged to extend its assistance to promote investment in Sri Lanka under the current government’s set economic development programme. The EU Ambassador to Sri Lanka Tung-Lai Margue met with Finance Minister Ravi Karunanayake recently to discuss investment and trade.

Policy challenges in agriculture sector and way forward

 Following is the keynote address (edited version) delivered by Institute of Policy Studies of Sri Lanka (IPS) Executive Director Dr. Saman Kelegama at the 10th Annual Research Forum of the Sri Lanka Agricultural Economics Association, organised in partnership with the Primary Industries and Agriculture Ministries, National Science Foundation and IPS recently.

SLIM Speech Idol enters third season

SLIM Speech Idol is a flourishing platform for sales and marketing personnel to showcase, and shine, in the exciting area of public speaking. 

CIM Sri Lanka appoints board for 2017

The Chartered Institute of Marketing (CIM) Sri Lanka announced the appointment of the board for 2017, at the 21st Annual General Meeting which took place on 1stDecember at the Hotel Galadari Colombo. 

GHR launches boutique-styled residential project in Rajagiriya

In line with the company’s commitment to create luxury living spaces at competitive market rates, Global Housing and Real Estate(GHR), announced the launch of its latest residential project in the heart of Rajagiriya, designed with both residents and investors in mind. 

MTD Walkers posts Rs.3.6bn revenue in 2Q

Integrated infrastructure and engineering solutions provider MTD Walkers PLC has posted revenue of Rs.3.6 billion for the second quarter of 2016/17.

All stakeholders should pull their act together: Central Bank Governor

In order to take benefit of the best set of circumstances Sri Lanka has ever had in the past 50 years, all stakeholders of the economy have to pull their act together, Central Bank Governor Dr. Indrajit Coomaraswamy  stressed recently. 

Sanasa Bank to raise Rs.3.3bn from int’l market

Sanasa Development Bank PLC (SDB) is planning to raise Rs. 3.3 billion from international financiers through private placement of shares, convertible loan facilities and a senior term loan in order to meet the minimum capital requirements that will be enforced soon through the 2017 budget and to expand its loan book.

SL’s manufacturing, services PMI expands in November

Sri Lanka’s manufacturing and services sectors have expanded in November from a month ago, mainly supported by the employment and manufacturing activities while the data also pointing to continued expansion of the activities during the next three months, the Purchasing Managers’ Index (PMI) showed.  

Fitch Ratings revises Sri Lankan banks’ outlook to ‘negative’ as operating conditions turn challengi

Fitch Ratings revised its outlook on Sri Lanka’s banking sector to ‘negative’ from ‘stable’ as the rating agency foresees more challenging operating conditions with higher bad loans  and mounting pressures on capital and bottom-lines. 

Sri Lanka could attract up to US$ 4 bn FDIs next year: FinMin

Sri Lanka could look forward to up to US$ 4 billion in Foreign Direct Investments (FDIs) next year, despite a disappointing FDI performance in recent times, Finance Minister Ravi Karunanayake said at a media briefing recently.

Idea Group launches 54 ‘Siyana’ showrooms in a day

Idea Group of Companies launched 54 showrooms that offer a total roofing solution, islandwide. The unveiling of all Siyana showrooms took place simultaneously at all locations, in one day, at the same time.

Arpico lights up giant Christmas tree at Hyde Park Supercentre

It does not seek to break records, but the larger-than-life stylised depiction of a Christmas tree at the Arpico Supercentre at Hyde Park Corner, Colombo, is attracting droves of selfie takers and happy snappers as they shop at the retail giant’s flagship outlet. Soaring to some 50 feet, the tree, which becomes a colossal cone of light at night, dwarfs the efforts at traditional seasonal décor at the country’s other supermarket

Renuka Foods introduces innovative Christmas offers

With the appetizing fragrance from the oven adding to the festive air, Renuka Foods has laid out a mouth-watering array designed to make your Christmas fare better and brighter this season.  Going hand in hand with this cavalcade of delectable goodies are exciting pathways via Facebook competitions that will make the season packed with fun.  

Abans offers Skechers Burst collection this Christmas

Searching for that dream pair of shoes that is stylish, versatile and comfortable? Well, look no further. This Christmas, Abans PLC, being Sri Lanka’s sole distributor for Skechers -- a global leader in performance and lifestyle footwear, now offers you the innovative Skechers Burst Collection with the ergonomic air-cooled memory foam that provides you with the ultimate comfort, while being ultra stylish.

Direct2Door delivers big benefits for online grocery customers

Already firmly established with a rapidly growing customer base, household concierge service Direct2Door is encouraging everyone living within Colombo and Greater Colombo to experience its improved utility and convenience, not just in terms of door-to-door delivery but also benefiting from the advice and assistance provided by concierges, who are well trained to ensure all customer needs are satisfied.

Freshness of chicken matters most for consumers: study

The Management Faculty of the University of Kelaniya recently conducted a market research study to ascertain consumer views and preferences, with a view to studying various aspects of purchasing behaviour among consumers when buying chicken.

Timeless wisdom of Sir John Templeton

Sir John Templeton (1912-2008) may be gone, but he’s still remembered as one of the greatest investors of all time. For one, Sir John popularized the idea of investing globally for the  US investors. 

Decrease in remittances in 2015: Glitch or beginning of the end?

Labour migration and related remittances play an important role in the Sri Lankan economy. Until recently, labour migration from Sri Lanka was dominated by females departing as housemaids. 

Effective dialogue between decision makers and work team creates winning renewal process

Last few weeks, we spoke about company renewal and we concentrated on the rethink, reinvent and reposition processes. However, even the best process in the world won’t help if the dialogue between the decision makers and the working team is poor. In this instalment, we will discuss about this dialogue.

CICT ‘Highly Commended’ at Lloyds List awards in Dubai

Colombo International Container Terminals (CICT) has been presented with a ‘Highly Commended’ certificate in the ‘Port Operator’ category at the prestigious Lloyd’s List Middle East and Indian Subcontinent Awards for 2016.

Bangladesh’s Gemcon Group retains MTI for 8th consulting project

The Gemcon Group, one of Bangladesh’s top business conglomerates (including the leading supermarket chain Meena Bazar), has engaged MTI to for the 8th project since MTI’s inception in Bangladesh in 2006. 

Verité Research and LFVPPEA hold discussion on agri exports

Verité Research, in partnership with the Lanka Fruit & Vegetable Producers, Processors and Exporters Association (LFVPPEA) held a roundtable discussion recently on “Boosting Agri Exports: Reducing Domestic NTB’s”at the Ceylon Chamber of Commerce.

Jaffna International Trade Fair to kick-start on January 27

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 8th