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. 

Employer’s Symposium balances performance with wage

Realities, concerns and misconstrues on matters related to performance and wage was the discourse at the recently concluded Employers’ Symposium 2015. 

Is it end of the dominant dollar?

The cat is finally out of the bag. The IMF has confirmed that the Chinese yuan will be included in the Special Drawing Rights (SDR) basket of reserve currencies. 

SAPPTA calls govt. to give due emphasis on pepper

The apex industry body for spices in the country has urged the government to give due emphasis to pepper, just as for cinnamon, and take effective measures that would help double production in the short term.

JAT Holdings holds Aeron Hockey Sri Lanka 2015

JAT Holdings, the proud distributor of the world renowned Herman Miller seating and desking solution in Sri Lanka, successfully conducted its inaugural Aeron Hockey Tournament, yet another first in the corporate sporting history of the country.

SEC hosts APEC FRTI Regional Seminar on ‘Investor and Market Intermediary Education’

For the fifth consecutive time, the Securities and Exchange Commission of Sri Lanka (SEC) hosted the Asia Pacific Economic Cooperation (APEC) Financial Regulators Training Initiative (FRTI) regional seminar. 

Mihin Lanka recommences flights to Chennai

Mihin Lanka recommenced all flights to and from Chennai (Madras) after a week of flight disruption due to the floods which resulted in an airport closure. The airline recommenced the flights with its codeshare partner SriLankan Airlines.

Brussels International Leadership Symposium on Ethics a success

Sri Lankan brand development consultant Michel Nugawela was invited to address the recently concluded International Leadership Symposium on Ethics in Business at the European Parliament. 

Qatar Airways launches new global brand campaign

Qatar Airways launched its new global brand campaign and tagline – Going Places Together – at a press conference in New York, USA. 

All the business world’s a stage…and one company in its time plays five parts

During the life of any small business, it will go through five stages of the life cycle and encounter different challenges. For example, the business will require a different strategy when it comes to market penetration,....

Etihad signs agreement with Swiss-AS to drive group-wide maintenance strategy

Etihad Airways, the national airline of the United Arab Emirates, signed a strategic relationship agreement with Swiss AviationSoftware (Swiss-AS), which will enable the airline and its equity partners to move to a common maintenance platform...

Bonanza for Kandy’s travellers from SriLankan Holidays

?SriLankan Holidays, the leisure arm of SriLankan Airlines, is giving the people of Kandy, a once in a lifetime opportunity to travel the world, with a whopping 25 percent off on holiday packages to 27 cities in Asia, the Middle East and Europe.