Corporate and personal taxes to be restructured; sin industries to be further taxed

The corporate and personal taxes have been reformed while the sin industries will be further taxed, Finance Minister Ravi Karunanayake said. “I propose to restructure the present corporate income tax rate structure to a two-rate band system with a higher rate of 30 percent and a standard rate of 15 

CFW empowers emerging fashion talent through 'Making the Cut' and ‘CFW Day’

Following three successful seasons this year, Colombo Fashion Week now focuses on prepping Sri Lanka’s emerging fashion talent to reach great heights. At two recently held workshops ‘Making the Cut’ and ‘CFW Day’ at Raffles Design Institute

Milo brings mothers and kids together with ‘Mom, Me and My Milo’ campaign

Milo, the nourishing energy beverage brand, has been synonymous with school sports in Sri Lanka for over three decades. In a mission to encourage children to embrace physical activity, Milo now takes another big leap by offering children the chance to win as many as 1000 mountain bikes through the ‘Mom, Me and My Milo’ campaign. 

Lagna Wasanawa delivers early Christmas this year

The Development Lotteries Board, dedicated to create millionaires, has organized a special draw to give out many prizes in the popular lottery, ‘Lagna Wasanawa’.

Tradlanka and Hain Celestial introduce Tilda Basmati Rice to Sri Lanka

Tilda, a renowned rice brand, entered  the Sri Lankan store shelves recently with a new line of Basmati rice products, that is grown and harvested at the foothills of Himalayas.

Dr. Prasantha Jayamanna bags Apple dealership for tabZ

Expressing its confidence in the country’s most tech savvy, digital hub, Apple Inc. recently appointed tabZ as an authorized reseller for its full range of iPhones, iPads and all related accessories in Sri Lanka. Located on the Lower Ground Floor at Unity Plaza, Colpetty, tabZ will now retail the iPhone 6S,

Industrial Gases pioneers CO2 Liquid Gas production from molasses fermentation process

Industrial Gases Pvt. Ltd. (IGL) an innovative and efficient provider of high quality industrial, medical and specialty gases, signed a MOU with Sri Lanka Sugar Co. (A 100 percent Government owned entity), in pioneering a project involving the installation of its own plant with state-of-the-art environmental-friendly 

United Motors group profits up 162% to Rs.545 mn

United Motors Group recorded a strong performance in the face of market challenges with a profit of Rs.545 million for the quarter ended 30th September 2015 in comparison to Rs.208 million recorded during the same period last year which is a 162 percent increase. 

JAT Holdings wins award for ‘Sayerlack’ at SLIM Brand Excellence

JAT Holdings, renown for being the pioneers to introduce water-base lacquers to the Sri Lankan market is today the undisputed leader in the furnishing and finishing industry in Sri Lanka.

Another Asia Leisure Resort to open in Kosgoda

Asia Leisure furthers its footprint on the south coast with another resort to open in Kosgoda in December 2016. 

Cinnamon to host Marco Pierre White in January

Cinnamon Hotels & Resorts are gearing to host celebrated restaurateur and Australian Master Chef Judge Marco Pierre White to Sri Lanka from January 18 to 31, 2016. 

TUI Line’s MV Mein Schiff 1 super luxury passenger cruiser calls Colombo

MV Mein Schiff 1, a Century class cruise ship, owned and operated by TUI Cruises, arrived in Colombo yesterday. Having sailed from Mumbai on November 15, she berthed at the Unity Container Terminal of Sri Lanka Ports Authority (SLPA) at 0700hrs, last morning.

Holcim holds sustainable construction solutions workshop for stakeholders

Holcim Lanka, a leader in the construction industry, committed to knowledge sharing, held a workshop on ‘Future concrete solutions for sustainable construction’ for architects, structural engineers and building contractors recently at the Holcim Lanka Innovation Centre.

Dipped Products sponsors Hayleys’ ‘Puritas Sath Diyawara’ project

The Hayleys Group of Companies will launch its seventh reverse osmosis (RO) plant today in Parangiyawadiya in the North Central Province.  The project funded by Dipped Products Limited (DPL) will provide clean drinking water for over 1,250 people in the village. An estimated 56 cases of chronic 

Lanka IOC conducts free health screening camp

Lanka IOC PLC, under its theme ‘We Care’, conducts several corporate social responsibility (CSR) programmes namely free health screening camps, assistance for elders’ homes, renovation of healthcare centre, donation of ambulance, wheelchairs and English education for underprivileged children. 

ComBank donates computer lab to Maradana Technical College

Commercial Bank of Ceylon (ComBank) has donated a fully-equipped and furnished computer lab to Maradana College of Technology, the oldest technical college in Sri Lanka.

Festival of Media Asia Pacific Awards opens for entries

The Festival of Media Asia Pacific Awards 2016 is calling on the region’s brands, media owners and media agencies to put forward their best campaigns that showcase incredible insight, strategy, execution and results.

Indian businessmen donate water purification plant, books to rural Lankan schools

A group of Indian businessmen arrived in Sri Lanka recently and ceremonially handed over a water purification plant donated by them to Sri Rahula Maha Vidyalaya, Maradankadawala. The occasion was also attended by Lions District 306B2 Governor Lion S.K. Ravindran and First Lady Lion Mangaleshwari. 

Spinning around with Murali – an evening with the world record holder

Muttiah Muralitharan and Management go hand-in-hand.  The world record holder of wickets in Tests, an unbelievable 800, held the very essence of sound management in his magical spin fingers and used it to good effect in his 133 Tests career which spanned 18 years. 

EASL welcomes PM’s competitive foreign exchange policy proposal

The Exporters Association of Sri Lanka (EASL) yesterday welcomed Prime Minister Ranil Wickremesinghe’s proposal to adopt a competitive foreign exchange policy that will encourage exports.

EU Maritime Affairs and Fisheries technical dialogue mission concludes visit to Colombo

A technical dialogue mission from the European Union’s Directorate General for Maritime Affairs and Fisheries concluded a visit to Colombo this week

SLASSCOM signs MOU with Japan IT industry

 SLASSCOM recently signed a MOU with Japan Information Technology Services Industry Association (JISA), a trade organization of Japanese IT services Industry.

Harsha calls for evidence-based policy making at top think tank meeting

Deputy Minister of Foreign Affairs Harsha de Silva delivering the keynote speech at the 5th South Asia Regional Conference of the Think Tank Initiative in Gurgaon, India, had  called for stronger ties between think tanks and policy makers. 

It’s not what you get, but what you make out of it: INFOTEL committee chief

Various companies and institutions organize exhibitions and expositions at a professional level as a mechanism to create public awareness and also as a marketing strategy to promote their goods and services amongst a wider segment of customers.

Overregulation of tobacco and liquor industries won’t bring desired results: CTC official

Overregulation and excessive taxation of the tobacco and liquor industries will cause the opposite of the desired effect, Ceylon Tobacco Company PLC (CTC) Corporate and Regulatory Affairs Director Dinesh Dharmadasa cautioned the government.

Ceylon Chamber hails trade document to be signed with India mid next year

The trade document which will be signed with India in mid-2016 will be a framework agreement to negotiate and eventually sign the Broader Economic and Technology Partnership, and the new regime is being transparent on trade negotiations, the Ceylon Chamber of Commerce (CCC) said.

New directors no impediment to Grand Hyatt construction: ministry

Public Enterprise Development Ministry on Wednesday in a statement assured that despite the appointment of a new director board, the construction work of the Grand Hyatt Hotel project would proceed unimpeded.

Finlays shareholders give nod for CSE delisting at EGM

The shareholders of Finlays Colombo PLC have given the nod to delist the company from the Colombo Stock Exchange (CSE) at an Extraordinary General Meeting held yesterday.

Dress sharp this Christmas and New Year with Hameedia

Continuously setting the benchmark in the fashion industry, Hameedia, Sri Lanka’s leading menswear specialist will be launching their exclusive promotion for customers celebrating the Christmas and New Year season

Cargills Bank still in red despite attempts to grow lending book

The banking arm of the Cargills group, Cargills Bank Limited (CBL) recorded a net loss of Rs.78.7 million for the quarter ended September 30, 2015, slightly improving from Rs.79.5 million loss recorded in the same quarter last year, the interim results showed.