‘Serious’ blow to London banks if UK quits single market: EU commissioner

AFP - The EU will not allow Britain to cling to advantages for its financial industry while blocking free 

Nestlé number 1 Most Respected Food and Beverage company in LMD Ranking

Nestlé has been ranked the number 1 F&B companyin LMD’s Most Respected Entitiesranking for 2016. 

International Expert Forum on Climate Change invites Carbon Consulting Company’s CEO to be expert sp

The Korea Legislation Research Institute (KLRI) convened its first International Expert Forum on Climate Change in Seoul, Korea recently. Sanith de S. Wijeyeratne, CEO

Standard Chartered mortgage loans bring Cinnamon Life closer to home

Standard Chartered is proud to partner “Cinnamon Life - Game Changer and Flagship of Colombo” – a development by John Keells Group, soon to grace the skyline of the island nation, to provide mortgage loans to investors in “The Residence at Cinnamon Life” and “The Suites at Cinnamon Life” apartments. 

Navin to address industry concerns at PA’s 162nd AGM

Plantation Industries Minister Navin Dissanayake will be the chief guest and deliver the keynote address at the 162nd Annual General Meeting (AGM) of the Planters’ Association of Ceylon (PA) on September 15, 2016.

‘Rainforest Rhythms’ –DFCC holds annual awards and dinner dance

The annual awards ceremony and dinner dance for the staff of DFCC Bank was held recently at the Stein Studios, Ratmalana with a large number of staff participating

Shares fall to near one-month low

REUTERS: Sri Lanka’s benchmark index ended lower in lean trading yesterday, dragged by blue chips to a near one-month closing low, as investors largely stayed on the sidelines, stockbrokers 

Cabinet nod to borrow US $ 250mn from ADB to develop capital market

The Cabinet approval has been given for the Finance Ministry to start negotiations for a US $ 250 million loan with the Asian Development Bank (ADB) to improve Sri Lanka’s capital market. 

Cypriot fund buys 12% stake in Kandy Hotels from Gardiners

Cypriot long-term investment fund Progruss Investments Limited has purchased a 12 percent stake 

Kalpitiya Beach Resort construction to begin soon: official

The civil construction contract for Citrus Leisure’s Kalpitiya Beach Resort PLC (CITK) property, which 

Fitch assigns ‘AA-(lka)’ to People’s Leasing’s Rs.8bn debenture

Fitch Ratings yesterday assigned People’s Leasing & Finance PLC’s (PLC, AA-(lka)/Stable) proposed senior debenture issue of up to Rs.8 billion an expected national long-term rating of ‘AA-

Rupee ends firmer on dollar selling by banks, exporters

REUTERS: The Sri Lankan rupee ended slightly firmer yesterday as banks sold dollars on behalf of foreign investors and as exporters sold the greenback amid a lack of demand from importers for the 

Kalamazoo Systems announces share split

Kalamazoo Systems PLC, which announced a Rs.1.5 billion rights issue this week, yesterday said it was planning to go for a share split subject to shareholder approval.

Epic Technology Group expands to Global IT Park in Japan

Epic Technology Group, Sri Lanka’s premier technology conglomerate, established its operations at the Global IT (GIT) Park, Minami Uonuma City, Japan on the 23rd of August. 

SLCSMI opens applications for Industrial Excellence Awards

The Sri Lanka Chamber of Small and Medium Industries (SLCSMI) will hold its flagship event “Industrial Excellence Awards 2016” this year, which fetes SME’s (Small and Medium Enterprises) for their achievements and contribution to Sri Lanka’s economic prosperity.

LIC (Lanka)’s Indian chiefs in town

S.K. Roy, Chairman, LIC of India and LIC (Lanka) Ltd. and Usha Sangwan, Managing Director of LIC of India and Director, LIC (Lanka) Ltd  are in Colombo.  

PM presented book on plantation industry

The Ceylon Planters’ Society Annual General Meeting was held at Galadari Hotel recently, with Prime Minister Ranil Wickremesinghe gracing the event as the chief guest. Here, former Editor of Ceylon Planters’ Society Bulletin, Lalin I. de Silva presenting his book titled ‘Sri Lanka Plantations a US $ 10 billion Industry by 2020’ to the premier. 

Wood, glass, sanitaryware expo begins tomorrow

Showcraft Group Sri Lanka along with Futurex Group  will be holding its  5th Sri Lanka Windows, Glass, Roofing, Façade , Tiles & Sanitary ware International Expo 2016 from 9th to 11th at the BMICH along with 4th SRI LANKA WOOD International Expo 2016 which is also happening at the same time.  

China’s 13th five-year plan and implications on Sri Lanka

China’s rapid development has been well documented. Since the initiation of market reforms in 1978, China’s GDP growth has averaged 10% per annum; an unparalleled feat amongst developing nations. Such brisk growth rates have been instrumental in developing large swathes of the nation and in lifting a significant portion of the population from poverty. 

SriLankan to absorb Mihin Operations to be fully taken over by December

Going forward, in trimming down the excess baggage, SriLankan Airlines is set to start absorbing the 

‘All About High Rise’ conclave kicks off tomorrow

The conference ‘All About High Rise’ kicks off tomorrow at the BMICH presenting the key areas of a high-rise building. It will give a complete eye over high-rise buildings covering the structural and architectural designing, façade technologies, MVAC, MEP, vertical transportation and fire and safety aspects. 

LG out to rev smartphone sales with flagship V20

AFP: South Korean consumer electronics titan LG unveiled a flagship V20 smartphone aimed at internet age “storytellers” on the eve of an Apple event expected to star a new iPhone.

The Kingsbury transforms apartment living into five-star

Many business and leisure travellers, travelling with families or in groups are opting for the comfort of serviced apartments to experience the convenience of a ‘home away from home’ for many reasons. The main reasons being the ability to prepare your own meals, enjoy homely comforts and for business travellers the ability to work and engage in intimate gatherings in the privacy of their own apartment. However, most don’t find w

Despite challenges, CTC expects to sustain strong PERFORMANCE

Despite the many challenges faced, Ceylon Tobacco Company PLC (CTC) has continued to reinforce its position on the Colombo Stock Exchange (CSE) by adopting forward thinking and sustainable processes that have contributed towards creating wealth and value across all spheres of the Sri Lankan economy. CTC Chief Executive Officer and Managing Director Michael Koest provided a candid overview of the current market conditions and corresponding opportu

CDS signs MoU with Pakistani Depositary CDC

Central Depository Systems (Pvt) Ltd (CDS), a fully owned subsidiary of the Colombo Stock Exchange (CSE)and the Central Depository Company of Pakistan (CDC), recently entered into a Memorandum of Understanding (MoU)regarding strengthening corporation onmutual development and knowledge sharing. 

PHD Sri Lanka’s digital team rocks at Lanka Comicon

Still riding high from being crowned Sri Lanka’s Digital Agency of the Year at Campaign Asia, PHD Sri Lanka’s digital arm Alternaet brought more of their creative offerings to this year’s Lanka Comic Con – a two-day event that’s quickly gained nationwide popularity for its colour and quirkiness.  The digital agency constructed what they termed a “Mirror of Veracity”, and daredeveryone from comic coll

Cementing 6-year partnership of excellence between CIM and Sarva Integrated

The Chartered Institute of Marketing (CIM) and Sarva Integrated Ltd recently renewed a successfulworking partnership of 6 years by tying up againfor the upcoming year 2017. 

Nawalakanda tea sets all-time record price again

Nawalakanda Tea Factory set an all-time record price of Rs.550 per kilo for an FGS grade surpassing the record achieved last week.  This tea was purchased by M/s Uniworld Teas at the tea auctions concluded at the Ceylon Chamber of Commerce on September 7, 2016.  The sale was conducted by the tea broker M/s John Keells PLC.   Nawalakanda Tea Factory has consistently produced high-quality orthodox teas over the past few years and ach

Blue Mountain Properties acquires ISO 9001 quality certification

Blue Mountain, the leading real estate major in Sri Lanka, has received the ISO 9001 international certification for Blue Mountain Properties (Pvt.) Ltd, the land arm of Blue Mountain Group of Companies. 

CIMA Convocation to be held tomorrow

CIMA’s second Convocation for the year will be held tomorrow (September 9) at the BMICH, commencing at 5.00 pm.