Shares edge up from 1-week low; rate concerns weigh

RUETERS: Sri Lankan shares closed slightly firmer yesterday, snapping a three-session losing streak, amid concerns a rise in interest rates could turn investors away from stocks and into fixed income assets, brokers said.The main stock index ended 0.07 percent, 

Rupee at record low after state bank raises dollar peg

REUTERS: The Sri Lankan rupee closed at an all-time low yesterday as a state-run bank, through which the Central Bank usually directs the market, raised the currency’s peg against the dollar by 25 cents to allow the exchange rate to depreciate.

Vidullanka signs further agreements to secure Ugandan investments

Vidullanka PLC which had entered into a power purchase agreement with the Ugandan government for a 6.5 MW small hydropower project has signed further agreements to protect its investments and receive financial support, according to a filing to the Colombo Stock Exchange.

Private sector wants key stakeholders to be part of free trade deals

Private sector representatives and economists yesterday urged the new government to involve views of relevant stakeholders when entering into preferential trade agreements as poor negotiation of already signed free trade agreements (FTAs) is observed to have done more harm than good to local industries,

Access to credit remains the biggest hurdle for SMEs: ADB

Limited access to bank credit continues to remain a persistent problem in Asia and the Pacific for small and medium-sized enterprises (SMEs), a recent Asian Development Bank (ADB) report said.

Bogawantalawa Plantation in Rs.1.2bn diversification

Regional Plantation Company (RPC) Bogawantalawa Estates PLC has initiated a seven-year Rs.1.2 billion diversification initiative in its lower elevation lands to spread out its risks and support future growth.

Industry veteran highlights need for private sector hand in tourism education

The state-owned hotel school should accredit private institution to enable them to provide qualifications in the hospitality and tourism sector, according to a leading figure in the industry.

Shares hit 1-week closing low on profit-taking

REUTERS: Sri Lankan shares closed at a one-week low yesterday, falling for a third straight session on profit-taking, as investors waited for cues on short-term interest rates from a weekly auction of government securities, stock brokers said.

Rupee steady amid importer dollar demand

REUTERS: The Sri Lankan rupee ended steady for a second straight session yesterday amid importer dollar demand as a state-run bank, through which the Central Bank usually directs the market, sold the greenback at a flat rate of 134.50.

Eden Hotel in Rs.1.06bn cash call

The Brown group’s Eden Hotel Lanka PLC will be opting for a rights issue of Rs.1.06 billion to repay part of its outstanding debts.

Ex-president’s vanity airport is used to store rice

AFP: Part of a vanity airport built by toppled Sri Lankan strongman Mahinda Rajapakse will be used as a rice storage warehouse to reduce losses after failing to take off, officials said yesterday.

Effective risk management process essential to realize vision of new government

You have today, during the opening session of the 8th Parliament, in announcing the Policy Statement of the new National Unity Government,

Human rights now at centre stage of businesses: Cherie Blair

The observance of human rights and ethical business practices would profit all businesses and help in the equal distribution of the dividends of economic...

Pak, Lanka key allies in boosting regional economic integration: Envoy

The High Commissioner of Pakistan in Sri Lanka Maj. Gen. (R) Syed Shakeel Hussain said that Pakistan and Sri Lanka are important partners not only...

Data pricing structures require correction: Dialog Group CEO

The techno-economic transformation of the telecoms industry in Sri Lanka will come in the form of accelerated data growth, emergence of OTT threats,...

CIMA Directors’ Tax Forum on September 14

To highlight the current tax issues and to bring everyone in the board room up to date on tax obligations and tax management, ...

Sri Lanka-Russia Business Council felicitates Dr. Saman Weerasinghe

The Sri Lanka Russia Business Council felicitated Dr. Saman Weerasinghe recently on his appointment as the Ambassador Designate to the Russian Federation.

British Council launches Career and Skills Summit

The British Council launched the ‘Opportunities’ Career and Skills Summit aimed at bridging the gap between prospective employers and skilled British degree and qualification holders.

Three forces reshaping the global economic order

In the midst of tumultuous global markets, a migrant crisis in Europe on top of their economic weaknesses, and continued bloody conflicts in the Middle East, the global economic order continues to be shaped and reshaped every day.

Asia’s greenest apparel factory recognized as world’s best garment maker

Asia’s first CarbonNeutral apparel manufacturer and the county’s iconic green factory – the Hirdaramani group’s Mihila, was recently recognized as Garment Maker of the Year at the World Textile Awards.  

Think tank appraises President on the economy; highlights the need for urgent policy actions

The Pathfinder Foundation (PF) at the outset wishes to emphasise the need for the government (the President, Prime Minister, his Cabinet as well as the heads of institutions dealing with key economic sectors) to operate in a well-coordinated and consistent manner.

ComBank supports ‘Construct 2015’ as official banker

Commercial Bank (ComBank) supported Sri Lanka’s construction sector as the official banker to ‘Construct 2015’, one of the largest construction sector exhibitions in the South Asian region.

Unilever relaunches Lipton Ceylonta brand

Lipton Ceylonta, the flagship tea brand of Unilever Sri Lanka, was relaunched recently at the Dambatenna bungalow of Sir Thomas Lipton, the inventor of Lipton tea.  

Presidential appreciation for Lankem Robbialac’s ‘Varna Pooja’

Lankem Ceylon PLC (Paints), manufacturers and marketers of Robbialac Paints, was recently appreciated for painting the entire Dalada Maligawa complex in Kandy for the 11th consecutive year.

Communications specialist heads PR at Bates

Media and communications specialist Ruvini Jayasinghe has taken over the reins at Bates Strategic Alliance’s Burson-Marsteller affiliated PR arm, Strategic Alliance PR starting September.

The Regent to launch membership

Nestled in Malabe, the newest property of LAHRC Management Services (Pvt.) Ltd, The Regent has attracted public attention since its construction stage.

Janashakthi excels at SLIM NASCO with most awards

Janashakthi Insurance recently emerged triumphant at the National Sales Congress (NASCO) 2015 for their significant sales efforts.

SLT strengthens ties as Sri Dalada Maligawa telecom partner

Sri Lanka Telecom (SLT) has strengthened its partnership as the official telecommunications service provider of the Sri Dalada Maligawa.

eMarketingEye announces Sri Lanka’s first ever Online Marketing Hackathon

 eMarketingEye (www.emarketingeye.com) introduces a revolutionary method of drawing in emerging talent and progressive thinkers who will push the boundaries of Online Marketing and take the company and the country to the next level.

SLIM holds Education Reforms Committee meeting for 2015/16

Sri Lanka Institute of Marketing (SLIM) has outlined plans to develop its educational programmes and produce marketers who will be geared to meet the requirements of a globalized industry.