Tea volume, exports dip in November

?Sri Lanka’s tea industry continues to be depressed in November and December compared to 2014, with lower volumes and prices recorded in both exports and the Colombo Tea Auction, according to a report by Forbes & Walker Tea Brokers (Pvt) Limited.

DFCC Bank offers cash rewards for children’s savings this New Year

?For the first time in Sri Lanka, DFCC Bank will run a New Year children’s savings promotion to motivate parents to open savings accounts for their children on New Year’s Day. 

Fitch rates ComBank’s Rs.7bn debenture issue at ‘AA-(lka)’

?Fitch Ratings Lanka has assigned Commercial Bank of Ceylon PLC’s (AA(lka)/Stable) proposed Basel II-compliant subordinated debentures of up to Rs.7 billion an expected National Long-Term Rating of ‘AA-(lka)(EXP)’. 

Sri Lanka’s unemployment rate up 5% in 3Q15

Sri Lanka’s unemployment rate in the third quarter of 2015 (3Q15) rose to 5 percent from 4.2 percent in December 2014 and 4.5 percent in the second quarter of 2015.

New investment and export framework to be unveiled in January

Sri Lanka will have its first glance of the country’s new investment and export framework next January, according to a top Cabinet Minister in-charge of international trade. 

Yarl Geek Challenge Season 4 comes to an end

?Season 4 of the Yarl Geek Challenge (YGC), organised by the Yarl IT Hub, concluded with team Bit Masters winning the 2015 challenge for their innovative advertising platform.

SLT brings augmented reality to Majestic City

Following their teaser earlier this month, Sri Lanka Telecom revealed their Christmas-themed activation event at Majestic City. Placed near the entrance of the popular shopping complex is a giant LED screen that shares all movement occurring in the corridor in front of it

Union Bank holds Carols programme

?Union Bank held a Carols programme at St. Andrew’s Scots Kirk Church in Colombo 3 recently.The Carols were presented by UB staff members and the event, preceded by the management of the Bank was well attended by staff and their family members.

GPDS emerge victorious at Presidential Export Awards

G P de Silva and Sons International, the leading player in producing and exporting cinnamon amongst many other spices, clinched two prestigious awards for ‘best exporter’ in the spices...

Sierra Readymix among TOP 23 at International Best Practices Awards

?Sierra Readymix, a pioneer in the environmentally-friendly concrete manufacture industry, was adjudged one of the top 23 best practices in the world at the 4th International Best Practice Competition held recently in the Philippines.

Access Engineering progresses in Henamulla urban regeneration project

?The urban regeneration project, a solution for the relocation of underserved and derelict community settlements scattered across Colombo launched the second phase of the relocation project at Henamulla, in August 2014.

Sri Lanka’s potential demand for senior living housing

?Sri Lanka is a country with a discreetly ageing population because of an increase in life expectancy and a decrease in birth rates. The demographic transition that is taking place is expected to result in the old and young representing a lopsided share of the population.

GPDS emerge victorious at Presidential Export Awards

G P de Silva and Sons International, the leading player in producing and exporting cinnamon amongst many other spices, clinched two prestigious awards for ‘best exporter’ in the spices and allied products sector

SLT Brings Augmented Reality to Majestic City

Following their teaser earlier this month, Sri Lanka Telecom revealed their Christmas-themed activation event at Majestic City. 

Celebratory Dinner to commemorate the 125th Anniversary of Royal College Union

?As part of the celebrations to mark the ‘125th Anniversary of the Royal College Union’, a formal celebratory dinner will be held on Sunday 17th, January 2016 commencing at 7.00pm at the Cinnamon Grand Hotel.

Mahesh clinches CILT Young Manager of the Year Award

?GAC Managing Director Mahesh Kurukulasuriya was awarded the prestigious title of Young Manager of the Year by the Chartered Institute of Logistics and Transport (CILT). 

Minodh on Asia ‘Influential Marketing Leaders’ list

?Richard Pieris Companies Head of Marketing Minodh de Sylva was listed amongst the ‘100 Most Influential Marketing Leaders of 2015’ South Asia at the Marketing Congress held recently at Taj Lands End Hotel, Mumbai - India by the CMO Council Asia. 

CBSL issues Rs. 500 coin to mark CMC’s 150th anniversary

?The Central Bank of Sri Lanka (CBSL) has issued a special silver uncirculated commemorative coin with a face value of Rs.500 to mark the 150th anniversary of Colombo Municipal Council in recognition of its service to the country.

Private sector requested to light up for Xmas

?Tourism and Christian Affairs Ministry requests all companies to light up their buildings during this week to create a Sri Lankan sense of celebration and spread the spirit of the season.

StanChart cuts forecasts on Sri Lanka over revised data, slower growth

?Standard Chartered (StanChart) has made a significant downward shift on its growth estimates for Sri Lanka, based on the revisions to GDP calculation and tepid growth.

CSE nod for Sanasa Bank debt listing

?Colombo Stock Exchange has given its consent in principle to list debt instruments of Sanasa Development Bank PLC amounting to Rs.4 billion.

Top bankers in ME on biz mission

?In an effort to encourage investors in the Middle East to set up businesses in Sri Lanka, top heads of the country’s banking sector had been on a short visit to the Kingdom of Saudi Arabiya (KSA), Mirror Business learns. 

Korean investors tell SL to improve investment climate

As Sri Lanka is currently exploring the possibility of entering into a preferential trade agreement with Korea, Korean investors and officials are of the opinion that the current operating climate in Sri Lanka is not conducive enough for them to enter the country. 

Elon Musk’s SpaceX succeeds in historic rocket launch, landing

?AFP: SpaceX successfully landed its powerful Falcon 9 rocket in an upright position on Monday, a historic first in the company’s bid to make rockets as reusable as airplanes.

Non-profits, social innovation and competitive advantage

Around 10 years ago, I interviewed the founder of an Australian non-profit organisation that was established to provide housing to the intellectually disabled children.

Promotion of international MICE tourism

For over three decades Sri Lanka was not able to carry out a consistent plan of action for promotion of meetings, incentives, conferences and events (MICE) tourism due to the unsatisfactory security situation in the country. 

South Asia could be linchpin for regional integration

?As the world deals with the “new normal” of a slowing China, regional financial and economic integration is more important than ever, and South Asia is strategically poised to play an influential part.

Fostering an innovative entrepreneurial Sri Lanka

?Sri Lanka was featured in the recently released annual Global Entrepreneurship Index (GEI) by the Global Entrepreneurship and Development Institute (GEDI). The country appeared in the index for the second consecutive year, however, dropped 16 places from its debut rank of 71st to place 97th in the world.

Etihad expands codeshare agreement with Russia’s S7 Airlines

?Etihad Airways, the national airline of the United Arab Emirates, is expanding its codeshare partnership with S7 Airlines to cover eight additional destinations from the Russian carrier’s Moscow hub.

Qatar Airways reveals football-fuelled video as FC Barcelona players put safety first

Qatar Airways has unveiled a fun and football-fuelled safety video to engage and entertain passengers as they travel with the airline. A break from industry norms, this fresh and unique take on the traditional safety video aims to engage customers whilst communicating essential information.