Aiming to fly high

The “Shang Flying Dreams Kite Festival” organized by Shangri-La Resort in Hambantota was held last Saturday with the participation of school children in the area. The 100-day countdown is also set for the opening of the resort. Shangri-La is a Hong-Kong based luxury hotel operator who is also developing a property at the Galle Face promenade.  

Sharp shares plunge after takeover thrown into question

AFP: Sharp shares nosedived yesterday, after the Taiwanese multinational that owns Foxconn said it would delay its multi-billion-dollar takeover to review new information it had received about the ailing Japanese giant.

Permoglaze ‘scratch and win’ promo first round of winners rewarded

JAT Holdings, Sri Lanka’s undisputed leader in the furnishing and finishing industry, launched its ‘Scratch and Win’ Permoglaze promotion recently to herald the holiday season. In continuing its own inimitable pioneering fashion

Fitch rates Singer Sri Lanka PLC’s Senior Debt Final ‘A-(lka)’

Fitch Ratings has assigned Singer Sri Lanka PLC’s (Singer, A-(lka)/Stable) proposed senior debentures of up to Rs.2 bn a final National Long-Term Rating of ‘A-(lka)’.  

As Modi euphoria cools, India faces test to keep foreigners invested

REUTERS: Nearly two years after Narendra Modi was elected as India’s prime minister with an ambitious business-friendly agenda, the feeble pace of reforms is starting to test the patience of one of his biggest group of supporters: foreign investors.

Post-sanctions Lanka-Iran talks sealed in Colombo

The 11th round of Iran-Sri Lanka trade talks wrapped successfully on Wednesday in Colombo.  The first trade talks to be held with Sri Lanka by a post-sanctions Iranian administration, the tightly scheduled one-day 

Saegis launches innovative think tank forum

Saegis Campus, which recently launched an innovative programme titled ‘Saegis International Forum of Intellectuals and Experts (SIFIE)’, held its inaugural lecture recently at the Saegis auditorium in Nugegoda

ADB, LOMC sign US$ 25 mn loan to boost credit access

The Asian Development Bank (ADB) and LOMC, one of Sri Lanka’s leading non-bank microfinance institutions, has signed a US$ 25 million loan agreement to boost access to credit for individuals and micro enterprises.

ACL Cables sponsors 53rd Thurstan vs Isipathana Battle of Brothers Big Match

The annual Thurstan-Isipathana Big Match cricket encounter is a much looked forward to event in the schools’ sports calendar.

Glass usage lower in developing Asia: Believers in Glass

Sri Lankan citizens should pay more attention to their health and use glass containers to store and serve food and beverages,

NZ Premier Key calls to boost bilateral trade

New Zealand Prime Minister John Key has urged New Zealand and Sri Lankan businesses to take advantage of the growing commercial opportunities between the two countries.

OECD calls for reforms to wake up growth

With little hope for the world economy picking up pace soon, governments must tackle reforms at home to kickstart growth, the Organisation for Economic Cooperation and Development’s (OECD) said yesterday.

Spot rupee hits record low on importer dollar demand

REUTERS: The Sri Lankan spot rupee hit a record low of 144.65 per dollar on resumption of trading after a gap of almost one month yesterday, due to importer dollar demand and a day after the Central Bank said it had stopped significant intervention in the market.

McLaren's 570GT luxury supercar

The new 570GT is the third model in McLaren's "Sports Series"

Asian shares rally as G20 meeting begins

AFP - Asian stocks rallied yesterday as China’s Central Bank chief said Beijing still has enough monetary firepower to keep the world’s second-largest economy on track as G20 ministers gathered in Shanghai.

First US liquefied natural gas export leaves Louisiana

AFP: The shale fracking revolution in the US oil and gas industry has achieved a milestone: the first export of liquefied natural gas from the country outside of Alaska.

Japan inflation falls back to zero in January: govt.

AFP: Japan’s inflation rate fell to zero in January, government data showed yesterday, in another blow to Prime Minister Shinzo Abe’s three-year attempt to put an end to a years-long battle with falling prices.

Tellippalai Mahajana College represents Jaffna at Tokyo Cement Super Quiz Season 3

The historic, 106-year-old Tellippalai Mahajana College recently beat out 17 other secondary schools to win the Jaffna District leg of the Tokyo Cement Super Quiz Season 3.

Fonterra opens first demo and training farm in Sri Lanka

Fonterra’s first Sri Lankan demonstration and training farm was officially opened recently by New Zealand Prime Minister John Key, Sustainable Development and Wildlife Minister and Kurunegala District MP Gamini Jayawickrama Perera and Fonterra Chairman John Wilson

DIMO and Mercedes-Benz sponsor Sri Lanka’s first-ever Jazz and Blues Festival

Diesel & Motor Engineering PLC (DIMO), the only authorized distributor for Mercedes-Benz in Sri Lanka, recently sponsored the first-ever Jazz and Blues Festival in Sri Lanka, which took place at Galle Face Hotel. 

Love lingers on for ODEL’s Valentine’s Day promotion winners

Valentine’s Day may be over, but the romance it celebrates will be heightened for a lucky couple that will soon be holidaying

Singer launches all-new VISTA range of Smart TVs

Singer, a leading TV brand in Sri Lanka continues to innovate, bringing the latest in technologically superior products to a growing customer base in Sri Lanka. Launching its latest Singer VISTA series of SMART

Access Engineering in pre-fabricated steel building construction at Lakvijaya power station

Access Engineering PLC is scoring once again a remarkable progress in the steel structure fabrication sector in civil engineering industry in Sri Lanka with its involvement towards the steel structure

President visits Siddhalepa Health Center in Germany

President Maithreepala Sirisena visited Siddhalepa Health Center in Berlin during his recent visit to Germany, and commended the effort of Siddhalepa Group to promote Sri Lankan Ayurveda in Europe. Ministers,

Rupee forwards end weaker on importer dollar demand

REUTERS: Sri Lankan rupee forwards ended weaker yesterday, pressured by importer demand for the greenback, despite a 50-basis-point rate hike

Shares fall for 3rd day as investors shun risky assets

REUTERS: Sri Lankan shares fell for a third straight session yesterday to a 22-month closing low, as investors shunned risky assets and an interest rate hike last week continued to dampen sentiment. Local

Economic think tank urges policy makers to further explore export finance solutions

As Sri Lanka’s exports continue to slow down, Colombo-based economic think-tank Verité Research has urged policy makers to look towards further exploring export finance, an enabling policy that could potentially

Beer drinkers to switch to arrack this year following tax hike: Fitch

Fitch Ratings yesterday said Sri Lanka would witness a shift in consumer behaviour from beer to hard liquor this year.

CCC urges govt. to bridge ETCA information gap

Sri Lanka’s premier trade chamber, Ceylon Chamber of Commerce (CCC) yesterday urged the government to bridge the information gap relating to the proposed Economic and Technology Cooperation Agreement 

Economic think tank urges policy makers to further explore export finance solutions

??By Shabiya Ali Ahlam As Sri Lanka’s exports continue to slow down, Colombo-based economic think-tank Verité Research has urged policy