Cars driving the rebalancing of Chinese economy: IEA

AFP - Chinese consumers are getting behind the wheel more, spurring a heady increase in petrol demand, a sign that consumer spending is helping the slowing Chinese powerhouse achieve a soft landing, the IEA said yesterday.

Oil extends losses in Asia on strong OPEC output

AFP - Oil tumbled to fresh multi-year lows in Asia yesterday after OPEC said output had surged, exacerbating concerns over a supply glut that is expected to persist beyond next year.

CIMA-LMD hold 100 Awards Ceremony

CIMA Sri Lanka, known for its contributions to the business field, collaborated with the country’s most prestigious magazine Lanka Monthly Digest (LMD) to recognise the contributions of Sri Lanka’s Most Influential Companies at a gala awards ceremony recently.

National Chamber of Exporters thanks media

The National Chamber of Exporters (NCE) felicitated the representatives of media organisations at an event held recently to express the appreciation of the chamber for the support extended to the chamber during the

First-ever Mercedes-Benz Fashion & Apparel Awards Sri Lanka concludes on high note

The first edition of the Mercedes-Benz Fashion & Apparel Awards Sri Lanka concluded on a high note with a dazzling night that awarded 10 proud winners.  This prestigious event that marked the pinnacle of Sri Lankan fashion recognised and celebrated the

Asanga presents ‘Towards A Better World Order’ to President

Asanga Abeyagoonasekera presented his book ‘Towards A Better World Order’ to President Maithripala Sirisena recently.  The book was launched by late Most Ven. Maduluwawe Sobitha Thera along with Prof. Carlo Fonseka and Prof. Vini Vitharana. 

Britain delays decision on London airport expansion

Britain yesterday said it would delay announcing where to expand London airport capacity to assess environmental impact, but critics said the move smacked of “gutless” political expediency.

Internet fuels 6% of overall US economy: study

REUTERS: The Internet’s economic impact has doubled since 2007 and now fuels at least six percent of the overall US economy, a study showed Thursday. The study for the Internet Association -- which includes major companies such as Facebook and Amazon -- found the online sector accounted for $966 billion in economic activity in 2014, and some three million jobs.

Honda India recalls 90,000 cars over fuel pipe scare

AFP: Japanese auto maker Honda said Thursday it was recalling around 90,000 units of two of its diesel car models in India over a potential defect in a fuel pipe.Honda Cars India, the company’s Indian arm,

China auto production to grow 8.2% in 2016: PwC

REUTERS: Car production in China will expand at nearly double this year’s rate in 2016, but the industry’s capacity glut will worsen as idle production rises, consultancy PwC said in a report.

Smog-choked China

Tourists take selfies at the bund as the financial district of Pudong (rear) is seen amid heavy smog, in Shanghai, China, yesterday. The heavy smog shrouding Beijing this week has proved to be a boon for China’s nascent electric car market, with some dealers saying inquiries about all-electric models are up by almost a tenth (REUTERS PHOTO)

Ford Motor investing in ride-hailing services, expanding electric vehicles

REUTERS: Ford Motor Co is developing new ride-hailing services and investing $4.5 billion to expand its fleet of plug-in and hybrid electric vehicles, company executives said Thursday.

Land Rover and The Old Joes’ Choir bring Christmas to Colombo

?Land Rover is proud to present the Old Joes' Choir this Christmas, as they celebrate the true essence of the most loved season, with "That's Christmas to Me", the maiden Christmas Choral Presentation organized by the lads in blue!

Singer Partners WoW.lk to drive its Ecommerce Sales

?Singer Sri Lanka Plc, the leading consumer durable retailer in Sri Lanka recently partnered wOw.lk, Sri Lanka’s premier e-commerce site to offer its customers the best deals on an array of products through internet purchases. 

TBWA\Sri Lanka wins again at Campaign Asia's Agency of the Year Awards 2015

?Once again TBWA\Sri Lanka has brought recognition to the local advertising industry with their ‘disruptive’ creative ability at the recently held Campaign Asia's Agency of the Year Awards in Mumbai.

PHD Sri Lanka shines with 2 Silvers at Campaign Asia’s Agency of the Year Awards 2015

A fresh face to many at this year’s Agency of the Year Awards, PHD Sri Lanka certainly made its mark by the end of the evening, being named both the top digital and media agency in Sri Lanka, picking up Silver in the Digital Agency of the Year

TAL Group comes out on top at Campaign Asia’s Agency of the Year Awards 2015

A clear winner at this year’s Campaign Asia AOTY Awards in Mumbai was the TAL Group, going home as the most awarded Sri Lankan Agency Group of the night

Tokyo Cement recognised once again in LMD 100

Tokyo Cement, Sri Lanka’s premier cement manufacturer, has once again landed a coveted spot on the highly prestigious, 2015 edition of the LMD 100, being ranked 25th overall. 

Star Gold pasta comes to Sri Lankan market

In order to meet the demand for health conscious products among Sri Lankan consumers, R.G. Brothers & Co. has introduced a No Fat No Sugar Star Gold Pasta to the market.   A product of R.G. Brothers 

Brandix HQ receives Green Mark – Platinum, second top award in a month

The headquarters building of the Brandix Group has been awarded the Green Mark – Platinum certification by the Ceylon Institute of Builders (CIOB), making it the first commercial building in Sri Lanka to receive this rating, developed by the Building Construction Authority (BCA) of Singapore to assess Green

AkzoNobel launches Dulux Ambiance interior top coats and special effects paints

AkzoNobel, one of the world’s leading global paints and coatings companies and the maker of Dulux Paints, has launched Dulux Ambiance, a premium range of interior top coats and special effects paints. Dulux Ambiance was created by colour experts and designers

IMF says Central Bank should get ready to hike rates in coming months

The International Monetary Fund yesterday said (IMF) the country’s Central Bank should be prepared to tighten the monetary policy in the coming months, citing many factors including the deterioration in the balance of payments (BOP) and pressure on the rupee. 

HNB to raise funds only via subordinated debentures

Hatton National Bank (HNB) saw its rating of AA- (lka)(EXP) for the proposed senior unsecured debentures by Fitch Ratings withdrawn yesterday as the institution has opted to raise funds via a different structure.

Banking sector seeks clarity on dormant account fund transfers

As the banking sector continues to remain in the dark on the specifics of the move to transfer monies in dormant bank accounts to the Consolidated Fund, the industry stressed it required clarity on a number of elements on the said proposal.

Shares end lower; turnover hits 16-month high on block deal

REUTERS: Sri Lankan shares closed lower for a fifth straight session yesterday, led by beverage and diversified shares, after a block deal in a key healthcare stock helped turnover hit a 16-month high, brokers said.

TPG Growth acquires 28% stake in Asiri Hospitals from Actis for Rs.7.6bn

TPG Growth, the middle market and growth-equity investment platform of leading global private investment firm TPG, bought a 27.87 percent stake in Asiri Hospitals Holdings PLC yesterday for  Rs.7.61 billion.

Sri Lanka mulls meeting country’s fabric need

?In a step towards import substitution, Sri Lanka is now looking at the possibility of producing the country’s total fabric requirement domestically doing away with the imports which drains much needed foreign currency from the country. 

The arduous task of turning the national carrier around

Many turnaround histories register six common observations from the two strategic reorientations outlined above – (1) profit maximization, (2) quality of service, (3) focused leadership, (4) staff development and communication, (5) alliance networks (6) and regional consolidation. 

Putting the sizzle in average female apparel and get the markets moving

Everyone knows how fashion shows work – the apparel on display, usually on near perfect lithe bodies of men and women, has a magnetic sense to pull others in the wish that somehow, they too could like the models on the catwalk. 

GICS for Colombo bourse

The Colombo Stock Exchange (CSE) adopts the Global Industry Classification Standard (GICS) to classify its listed companies. This was officially launched at the ceremony held on December 2, 2015 to mark the 30th anniversary of the CSE.