Photo Technica clinches two awards at Entrepreneur Awards

?Achieving yet another milestone, Photo Technica clinched double honors at the prestigious ‘Sri Lankan Entrepreneur of the Year – 2015’ awards ceremony organized by the Federation of Chamber of Commerce and Industry of Sri Lanka (FCCISL).

Sri Lanka: The world’s newest five-star destination

The first time I visited Sri Lanka, four years ago, I was smitten by the sensuality of this tear-shaped island of terraced tea plantations, dense jungles, empty beaches, 

IWW Steel company donates school gear to mark New Year

dawn of the New Year in a meaningful manner headed by its Chairman Dr. Shivalingam Ramesh. The significance of the event was the donation of school items to children of IWW Steel workers by its Chairman incurring all costs by himself. 

‘Marina’ honoured at SLIM Brand Excellence Awards

?NMK Group of Companies clinched a Bronze accolade for its ‘Marina’ brand name under the ‘Business to Business’ category, at the prestigious SLIM Brand Excellence–2015 awards organized by the Sri Lanka Institute of Marketing (SLIM) in Colombo recently. 

Rupee slightly firmer on bank dlr sales; stocks down

REUTERS- The Sri Lankan rupee was slightly firmer yesterday, as dollar sales by a private bank outpaced demand for the greenback from importers, dealers said.

Etisalat Lanka rewards customers to celebrate 25 years of operations

Etisalat Lanka announced the grand prize winner of the 25th year anniversary promotion held for the second consecutive year.

Plantation Industries Minister inspects TSHDA

Minister of Plantation Industries Navin Dissanayake inspected the Tea Small Holding Development Authority yesterday, at Pellawatte Battaramulla which is under the purview of his Ministry.

Harvard’s Center for International Development in Sri Lanka

Harvard Kennedy Schools (HKS), Center for International Development (CID) kicked-off its engagement with the Sri Lanka government at the ‘Sri Lankan Economic Forum 2016’. 

October trade gap contracts by 6.8%

Sri Lanka’s external sector showed improved performance in October 2015 with the trade gap contracting by 6.8 percent to US $ 791 million. But despite the modest progress, the deficit for the first ten months of 2015 expanded by 2.5 percent to US $ 6,936 million.

ComBank’s ATMs set new records for December

The automated teller machines (ATMs) of Commercial Bank dispensed a mind-boggling Rs 37.321 billion in December 2015, averaging Rs 1.204 billion a day, and processing an incredible 6.682 million transactions at a daily average of 215,548, Sri Lanka’s largest private bank reports.

Budget deficit hits 7.2% of GDP in 2015

Sri Lanka’s budget deficit overshot to 7.2 percent of gross domestic product (GDP) in 2015, against a revised target of 6.0 percent, swelled by unexpected payments for contractors, Finance Minister Ravi Karunanayake said.

ADB president dismisses fears of a possible currency war

Asia isn’t facing a currency war triggered by China, the President of the Asian Development Bank (ADB) said yesterday. Takehiko Nakao said the recent decline in the yuan reflected the market and was not due to “artificial intervention”.

China regulator orders banks in some hubs to limit dollar buying this month

REUTERS: China’s foreign exchange regulator has ordered banks in some trading hubs to limit dollar purchases this month, three people with direct knowledge said yesterday, in the latest attempt to stem capital outflows. The spread between the onshore and offshore markets for the yuan, or renminbi, 

China state planner approves US $ 2bn urban rail project

REUTERS: China’s top economic planner yesterday approved a 13.2 billion yuan (US $ 2 billion) urban rail project in Shijiazhuang, the largest city of northern Hebei province, as the government looks to boost flagging economic activity. The project,

White House, Silicon Valley hold summit on militants’ social media use

REUTERS: Senior White House officials and U.S. intelligence and law enforcement figures met with Silicon Valley executives yesterday to discuss how to counter the use of social media by militant groups, sources familiar with the meeting said on Thursday.

Hyundai says to make Santa Fe SUV at Alabama plant

REUTERS: Hyundai Motor Co said on Thursday it will begin production of the Santa Fe Sport model at its Montgomery, Alabama, plant in the early summer as it seeks to increase supply for the hot-selling crossover SUV segment of the U.S. market.

Samsung Elec Q4 profit guidance misses expectations

REUTERS: Tech giant Samsung Electronics Co Ltd said yesterday its fourth-quarter operating profit likely rose 15 percent from a year earlier, missing expectations and fuelling concerns it may be in for another tough year due to slack gadget sales.

Institute of Multimedia Education launched

The Institute of Multimedia Education (IME), which opened its doors on January 2, 2016, concentrates on providing a scientific, ethical and a professional education that focuses on modern trends, latest technology and application.

Chandanalepa to introduce 28 vocalists

Popular singing sensation representing the new generation Sanka Dineth will present ‘Sanka Dineth Live in Concert with 28 Voices’ musical show at the Maharagama National Youth Service Council Auditorium on January 16, at 6:30 p.m. The main sponsor of the event is

Holcim partners with DIMO to procure largest dozer

Holcim (Lanka) Ltd, a member of the LafargeHolcim group, in the pursuit of continued development in safety and technology has provided an astounding investment, partnering with facilitator, Diesel & Motor Engineering PLC (DIMO),

Leo Burnett recognizes Firzan Mulafer and Caryll Van Dort as Star Reachers of 2015

Leo Burnett Solutions Inc. (LBSI), the local office of the global advertising network Leo Burnett Worldwide, recently recognized Publicis Solutions Director Client Services Firzan Mulafer and ARC Worldwide Sri Lanka Director Public Relations Caryll Van Dort as the agency’s Star Reachers for the year 2015. 

Prima Kottumee launches crowd-sourced e-calendar 2016

Prima Kottumee took its annual Model Hunt event to a new level this year with the entire search being conducted through social media for the brand’s crowd-sourced e-calendar.

SriLankan Airlines bids goodbye to Airbus A340s after 21 years of service

?SriLankan Airlines, the first Asian airline to operate the four-engine Airbus A340 aircraft, bid goodbye to the last of its A340s after more than two decades in service, with a final commercial flight yesterday.

Sri Lanka Economic Forum 2016

Sri Lanka Economic Forum 2016, sponsored by the Open Society Foundations of the international investor and philanthropist George Soros, commenced yesterday at Cinnamon Grand Colombo with the attendance of President Maithripala Sirisena...

Sri Lanka heading towards a debt crisis

Sri Lanka is likely heading down the path of a foreign debt crisis, which the country’s foreign reserves cannot absorb, a former Central Bank Deputy Governor said.

Govt. shouldn’t overregulate tourism informal sector: expert

?The government should not overregulate the informal hospitality sector due to pressure from the larger hotels, a small and medium enterprise (SME) sector expert said at Sri Lanka Economic Forum 2016.

October exports fall 6%, imports down 6.4%

?Sri Lanka’s October exports fell 6 percent to US $ 847.3 million amid lower global demand, the Central Bank data released yesterday showed.

China shares dive; trading suspended

?Global shares dived yesterday, led by Chinese markets, which were suspended after a more than seven percent plunge as Beijing weakened the value of the yuan currency to a five year-low.

Top investor Soros expresses confidence in Sri Lanka

International financier and philanthropist George Soros yesterday expressed confidence in Sri Lanka’s economic prospects, though he warned that the country would have to tread carefully as the world economic environment remains “hostile”.

Market regulator to employ CID tactics to curb misconduct

Sri Lanka’s capital market regulator is currently acquiring the tactics used by the country’s intelligence agencies to tackle market misconduct, a top official said.