Amunugama stresses need to bring rural agriculture to int’l level

The importance of bringing rural agriculture to international level was stressed by Special Assignments Minister Sarath Amunugama at the anniversary celebrations of the Agricultural Research Centre in Gannoruwa, Peradeniya, 

Lankan microenterprises’ potential untapped, women an underutilised asset: Eran

Following is the speech delivered by State Enterprise Development Deputy Minister Eran Wickramaratne at the recent Annual General Meeting (AGM) of the National Chamber of Commerce of 

Korea Exim Bank opens representative office in Colombo

The Export-Import Bank (Exim) of Korea, an official export credit agency of the Republic of Korea has opened a representative office in Colombo.  The State Minister for National Policies and Economic Affairs Niroshan Perera, the Ambassador 

Tourism personality retires to enter academia

Sri Lanka Convention Bureau (SLCB) Chief Executive Vipula Wanigasekera is to step down to pursue a full time academic career from next month. Having served the private sector for 15 years in trade, sales, shipping, exports and marketing, 

StanChart’s global research briefing in Colombo today

Standard Chartered’s global research team will address an exclusive group of the bank’s clients and media personnel today as they present their views at a session titled “Retreat, Regroup, Rebound” as part of the bank’s global research briefing 2016 tour. 

Russell de Mel appointed to Singer Finance board

Singer Sri Lanka’s public listed subsidiary Singer Finance (Lanka) PLC recently announced the appointment of Russell de Mel as an Independent Non-Executive Director to the board with effect from January 1, 2016.

Ceylon Cold Stores 3Q16 net profit up 106% to Rs.651mn

Ceylon Cold Stores PLC (CCS), one of the two fast-moving consumer goods arms of John Keells Holdings PLC, posted a net profit of Rs.651.62 million for the quarter ended December 2015 (3Q16), growing 106 percent year-on-year (yoy).

Hirdaramani buys 10% in Ceylon Hotels Corp.

The Galle Face Hotel Group’s Ceylon Hotel Holdings (Private) Limited has disposed 10 percent of its shareholding in Ceylon Hotels Corporation PLC (CHC) for Rs.515.48 million to apparel heavyweight Hirdaramani.

Rupee edges down on importer dollar demand

REUTERS: The Sri Lankan rupee ended slightly weaker yesterday due to importer dollar demand, while selling of the U.S. currency by a private bank prevented a sharp fall, dealers said.

Softlogic Finance in debt-to-equity deal with the Netherlands’ FMO

Softlogic Finance PLC will be converting some of its debt into equity by issuing new shares worth Rs.288.09 million through a private placement to Dutch development bank FMO.

National consumer prices slow down to 4.2% in December

Sri Lanka’s national inflation measured by National Consumer Price Index (NCPI) in December 2015 slowed down to 4.2 percent from 4.8 percent a month ago, data released by the Department of Census and Statistics (DCS) showed. 

Economist warns of tougher austerity measures from IMF

Despite the International Monetary Fund (IMF) being rather lenient when it bailed-out Sri Lanka from a balance of payment (BoP) crisis in 2009, a leading economist in the country expects harder austerity

Bank of Tokyo-Mitsubishi opens liaison office in Colombo

Sri Lanka is likely to witness a surge in foreign direct investment (FDI) from Japan with latter’s premier bank sounding upbeat and pledging to commit to a long-term economic relationship with the island nation.

Etisalat Lanka rewards third and fourth batch winners of 25th year promotion

Etisalat Lanka announced the third and fourth batch of monthly winners of the 25th year anniversary consumer promotion held for the second consecutive time this year. The winners were rewarded by Etisalat representatives and took place at the Etisalat Lanka flagship store in Colombo 3.   

Build your people to build your business: SLASSCOM People Summit 2015

Back for the sixth consecutive year, SLASSCOM’s People Summit 2016 aims to kick off your year by providing leaders at all levels with pioneering talent management insights and perspectives from renowned global leaders

DFCC PLC expands its operations in Hingurakgoda with the opening of a new branch

DFCC PLC recently opened its newest branch in Hingurakgoda on the 20 January 2016, which is located at No 88,D S Senanayake Street,Hingurakgoda. The ceremonial opening of the new branch was attended by Mr. Arjun Fernando, CEO, DFCC Bank

Private sector dollar debt to add to country’s external sector woes

?Foreign debt raised by the private sector firms during the last few years are now a cause for concern as servicing such debt has become a challenge for the borrowers with the rising...

Latest RIU report sheds light on Sri Lanka’s gym & fitness market

Maintaining a balanced and healthy life-style based on physical and mental fitness as well as spiritual well-being is one of the most important challenges of modern human life. 

Fonterra Brands Sri Lanka gets new MD

?Dairy co-operative Fonterra has announced the appointment of Sunil Sethi as Managing Director of Fonterra Brands Sri Lanka and Indian subcontinent. 

We haven’t really harvested and nurtured seafaring opportunities: Capt. Jayakody

?Professor (Capt.) Nalaka Jayakody continuous to urge authorities, government and the people of Sri Lanka to tap into the enormous opportunities of seafaring by investing, collaborating and promoting the profession both locally and globally. 

Tea Board rejects quality drop claims

The Sri Lanka Tea Board (SLTB) yesterday strongly rejected the claims on increasing amounts of substandard tea leaves entering the manufacturing process and affirmed the quality of Ceylon tea is at high levels and is improving.

CTC dethrones JKH

?Ceylon Tobacco Company PLC (CTC), a unit of British American Tobacco, yesterday dethroned John Keells Holdings PLC (JKH) as Sri Lanka’s most valuable listed company, adding excitement to an otherwise lacklustre market. 

IMF cuts world growth forecast, warns of emerging market risks

?AFP: The International Monetary Fund (IMF) warned of substantial risks in the major emerging market economies as it lowered its outlook for global economic growth 

EPF among top shareholders of a company with just one director

?Sri Lanka’s private sector pension fund, the Employees’ Provident Fund (EPF), managed by the state, has invested in a company which has just one director in its director board and has negative net worth.  

Precious agarwood!

?Sadaharitha Plantations, a leading commercial forestry company in the country, has come up with an innovative solution to produce agarwood, a highly valued raw material used in the production of perfumes.

ULCCs boost Port of Colombo volume

Colombo International Container Terminals Ltd. (CICT) has set another milestone by closing 2015 with an impressive 1.561 million teus, with the ULCC (Ultra Large Container Carrier) and VLCC (Very large Container Carrier) ...

Hutch launches train ticket purchases via mobile

?Hutch, one of Sri Lanka’s fastest growing 3G networks, has partnered with Mobitel and Sri Lanka Railway to introduce the latest addition to its range of VAS services for its valued customer base, by enabling train ticket purchases straight from a Hutch mobile.

IPM partners Esoft Metro Campus for greater IT proficiency

?IPM Sri Lanka – the nation’s leader in human resources management – signed a Memorandum of Understanding (MoU) recently with Esoft Metro Campus - the leading IT training institute - to encourage greater IT proficiency amongst the HR community. 

Access Engineering receives highest CIDA recognition

Access Engineering PLC, one of the foremost engineering enterprises in Sri Lanka, was recently accredited with the highest national construction grading for three key engineering disciplines by the Construction Industry Development Authority (CIDA)

Imal – First Lankan to be on Asia Pacific Effie jury

?The Confederation of Asian Advertising Agency Associations has proudly announced the appointment of Imal Fonseka, renowned marketer and CEO of Ceylon Biscuits, to the jury of the Asia Pacific Effie Awards, making him the first Sri Lankan to be nominated for this prestigious position.