Ceytea recognized at National Business Excellence Awards 2015

?Unilever Sri Lanka’s Ceytea factory, formally known as Premium Exports Ceylon Limited (PECL), was adjudged the 1st Runner-up in the Export Sector at the National Business Excellence Awards 2015 held in Colombo recently.

OPPO Keeps Scoring: Smartphone Giant and International Cricket Council Announce 4-Year Global Partne

On December 10, the day before the opening press conference for the World Twenty20 2016, the International Cricket Council announced that OPPO, the evolving global smartphone brand, will become its official partner worldwide for the mobile phone category.

Startup bootcamp Disrupt 2.0 concludes on a high note

Startup Sri Lanka, the recently launched initiative from the Sri Lanka Association Software and Services Company (SLASSCOM) recently held Disrupt 2.0, a startup bootcamp for potential and existing startups with the theme ‘Inspire, Ideate, Initiate and Disrupt’.

Economist wants to include pensions in Budget analysis

Despite the government having expressed keenness in tackling the debt issue, authorities are far from finding a systematic solution as a number of elements pertaining to the issue have gone completely unnoticed when drawing up the national Budget, a leading economist in the country said.

LTL enters Maldivian power sector with Rs.600mn contract

?LTL Projects (Pvt.) Ltd, a unit of LTL Holdings, recently entered into a Rs.600 million contract with the Maldives Environment and Energy Ministry for design, supply, installation and maintenance of generator and grid infrastructure in five islands. 

Union Bank provides recognition, platform for local SME entrepreneurs

?Industrial Excellence Awards (IEA) 2015 was held at the Water’s Edge recently. 

IWW Steel receives SLS for RS QST RB 500 steel wire

?IWW Steel Pvt Ltd, one of the leading steel wire manufacturing companies in Sri Lanka received SLS 375:2009 standard certificate awarded by the Sri Lanka Standard Institute for its product RS QST RB 500 steel wire. 

Despite govt.’s claims tile industry remains protected

Brokerage Bartleet Religare Securities (BRS) gave a ‘Buy’ signal for Lanka Tiles PLC (TILE) amidst continued protection and the reduction in corporate tax to 15 percent from 28 percent in Budget 2016.

Arpico lights up in typical style for Christmas

?The final symbolic affirmation that the festive season has begun in earnest was made by the Arpico retail chain last week with the lighting up of the characteristic larger-than-life Christmas tree by no less a personage than ‘Santa Claus’ at the flagship Supercentre at Hyde Park.

Rupee hits record low on year-end payments, importer dlr demand

REUTERS: The Sri Lankan rupee hit a record low yesterday due to dollar demand from importers and for dividend payouts by multinational firms, dealers said.

Eureka opens latest office in Wattala

?Eureka Australian Migration Experts, a leading migration and student recruitment  company in Sri Lanka that is dedicated to help get VISA to those who travel abroad for higher education recently opened its newest office in Wattala.    

Insurance industry outlook stable despite change in rules

Global ratings agency Fitch Ratings has given Sri Lanka’s insurance industry a stable outlook for 2016, despite the uncertainty over the new rules and dampened growth.

Govt. calls for CB report on cash withdrawal tax

?Announcing a number of amendments to the revenue proposals presented in Budget 2016, Prime Minister Ranil Wickremesinghe yesterday said a report has been called from the Central Bank on the Budget proposal to tax the cash withdrawals from banks.

Naturub Group receives Energy Efficiency Award

Naturub Group was awarded the Energy Efficiency Award for 2015 by the Sri Lanka Sustainable Energy Authority for their creditable performance in the industry. 

Flexiprint shines at National Business Excellence Awards

Flexiprint (Pvt) Ltd - one of the largest suppliers of tea bag tags and tea envelopes to the tea bagging industry in the world won the accolade for business excellence...

Mahindra close to purchase Italian car designer Pininfarina

REUTERS: Mahindra & Mahindra is close to signing a deal to buy Italian car designer Pininfarina , two sources with direct knowledge of the matter said on Friday, the latest purchase of an iconic Italian brand by an Asian company.

Laugfs Car Care marks a year of success with annual get-together

?Laugfs Car Care, a subsidiary of Laugfs Lubricants Ltd., recently held its annual get-together at the LAYA Beach Resort in Wadduwa.

Sterling Aftercare introduces fleet of hybrid vehicles for its management

?As a reputed brand in the automobile industry of Sri Lanka, Sterling announced a ‘green transportation solution’ for its entire management staff. 

Eurocars holds Porsche sport driving boot camp

?Eurocars (Private) Limited, the official Porsche importer in Sri Lanka, organized the “Porsche Sport Driving Boot camp” on 5th of December from 8:00am to 1:00pm at the Katukurunda Airforce base exclusively for Porsche owners. 

China’s Baidu says to develop self-driving buses within 3 years

?REUTERS: China’s top online search firm Baidu Inc said it aims to put self-driving buses on the road in three years and mass produce them within five years, after it set up a business unit to oversee all its efforts related to automobiles.

Paris text durable and dynamic but not fully fair and responsive: CANSA

?Climate Action Network South Asia (CANSA), a coalition of over 141 civil society groups from South Asia, termed the final text for Paris climate treaty as durable and dynamic but has fallen short on being fully fair and responsive to future needs.

Sathosa moves to second spot in store equity ranks

?Sri Lanka’s fast-moving consumer goods (FMCG) market’s price leader Lak Sathosa is ranked second among retail chain brands in the country, and that too, by a few marginal points behind the country’s top ranked retail chain. 

CMA signs MoU with Uwa Wellassa University as educational partner

The Institute of Certified Management Accountants of Sri Lanka (CMA) and Uwa Wellassa University (UWU) signed a Memorandum of Understanding (MoU) at the CMA,...

Ceylon Chamber launches 2016/2017 Business Opportunities Bulletin

?The Ceylon Chamber of Commerce (CCC) launched its 2016 – 2017 ‘Business Opportunities Bulletin’ (BOB), thus opening out a vital source for the Sri Lankan business community to scout for commercial opportunities.

LECS to hold Jaffna Int’l Trade Fair 2016 in January

The northern region of Sri Lanka will welcome once again for the seventh consecutive year, the Jaffna International Trade Fair (JITF 2016). Considered by the people in the north as the largest exhibition and consumer fair, the event takes place from January 29 to 31, 2016 in Jaffna.

CINEC VP addresses 29th National Maritime Convention in India

?Colombo International Nautical and Engineering College (CINEC) Vice President (VP) Capt. Nalaka Jayakody represented as the key speaker of the 29th National Convention of Marine Engineers and National Seminar held in Pune, India recently.

Ircon assures Sri Lanka Railways support for track infrastructure development

Ircon International Limited after the successful completion of the 265 kilometre reconstructed rail network in the Northern Province of Sri Lanka, is looking to expand its footprint in Sri Lanka and assures the government ...

Port City to create regional business hub

The recently released Supplementary Environmental Impact Report (SEIA) for the Colombo Port City (CPC) project says the main objective of the CPC is to create a regional business hub - a distinctly branded city,...

Global Financial Centres and their impact on banking and finance sectors

The government in its budget proposals for 2016 has indicated that a financial centre will be established in Colombo called the “Colombo International Financial Centre”. 

Gender disparities in Asia continue to thwart per capita income

?Only 49 percent of working age women in developing Asia participates in the labour force in contrast to 80 percent of men. And this number has in fact reduced from 56 percent in 1990.