Bonanza to James Packer from casinos

Casinos are not the playgrounds for the rich and the dashing anymore. The era when it was gentlemen in black tie and ladies in evening dress and glistening jewels is over.

SL-B’desh mull formulating PTA

Sri Lanka and Bangladesh will begin formulating a preferential trade agreement (PTA) between the two countries subsequent to the completion of the Commonwealth Heads of Government Meeting (CHOGM), with a view to developing into a free-trade agreement (FTA) in future, according to Bangladesh High Commissioner to Sri Lanka Mohammad S. Rahman.

Krrish Group says Transworks project in tact

India’s Krrish Group, which is supposed to be building a luxury apartment complex on the Transworks House land in Colombo Fort, yesterday, denied the claims that the Transworks site is going to be offered to potential investors attending the forthcoming Commonwealth Business Forum.

Is your staff ignoring low hanging fruit?

The basic logic argues there are only three ways to improve a company’s bottom line. Increase revenue, reduce costs, or both. Imagine attending a meeting where fresh strategies intended to resolve or improve the company’s bottom line are discussed.

Regional infrastructure connectivity: What, how and when?

“Good roads, canals, and navigable rivers, by diminishing the expense of carriage, put the remote parts of the country more nearly upon a level with those of the neighborhood of the town. They are upon that, the greatest of all improvements.”

Eden Lanka acquires Dickwella Resorts for Rs.1.5bn

Eden Hotel Lanka PLC (Eden) said it is buying 99.9 percent of Dickwella Resorts (Pvt) Ltd (Dickwella), a 76-room luxury property for Rs.1.5 billion from LOLC Leisure Ltd, a subsidiary of LOLC Group.

Lanka Walltile ups stake in Lanka Tiles

Lanka Walltile PLC has acquired 13.59 percent of Lanka Tiles PLC in a deal worth over Rs.575 million. The purchase was executed at Rs.80 per share.

Sri Lanka Tourism to attend WTM 2013, London

World Travel Market (WTM), the leading Travel and Tourism Trade event in the world is scheduled to kick off on November 4, at the London’s, Excel Exhibition Hall.

Some of the world’s best software created by local companies: Microsoft Country Manager

A product of the early stage development of Sri Lanka’s ICT Industry, Microsoft’s new Country Manager for Sri Lanka, Imran Vilcassim started his career with Microsoft a decade ago as a technology engineer.

Daughters of Indian billionaires who have chosen to give it away

While it assures you that you will lack nothing in life, it also seems to place an extra burden of social responsibility on your shoulders. Understandable of course – when you are the daughter of a billionaire who has a doting father and a fortune to inherit.

Sriyan appointed Textured Jersey CEO

Sriyan de Silva Wijeyratne, who stepped down as Country Manager, Sri Lanka and Bangladesh for Microsoft, has been appointed MD/CEO of knit fabric maker, Textured Jersey Lanka PLC.

Foreign inflows top Rs.23bn

Stocks ended two-week high yesterday led by diversified shares such as conglomerate John keels Holdings PLC, while foreign inflows also helped boost turnover.

October inflation increases 6.7%

Sri Lanka’s cost of living rose 6.7 percent in October from a year earlier, accelerating from 6.2 percent in September, according to the Department of Census and Statistics data.

SL’s domestic investment strategy not sustainable: Prof. Indraratna

Sri Lanka’s strategy of meeting domestic investment requirements through borrowing cannot be sustained for much longer, according to Sri Lanka Economic Association (SLEA) President Prof. A. D. V. De S. Indraratna.

CSE postpones Singapore roadshow

The Colombo Stock Exchange (CSE) has postponed its fourth foreign roadshow in Singapore to January 21 next year. The event was previously scheduled for November 28, 2013.

Condominium fees: what owners should know

The complex documentation of a condominium project should be clearly understood by the purchaser. First-time condo buyers are sometimes confused by the monthly maintenance fee that condo buildings charge.

Budget 2014: It’s not just about numbers

The Appropriation Bill was tabled in Parliament earlier this month and debates on Budget 2014 will dominate Parliament from now till the year’s end. But the value of these debates to the country will depend on the integrity of consultation and information reflected in the Budget documents and related reporting.

Sri Lanka opens first private air terminal

Sri Lanka opened its first private sector-operated domestic air terminal at the Bandaranaike International Airport (BIA) recently.

Lack of trained staff, biggest challenge: THASL President

The single biggest threat the Sri Lankan hospitality industry may face will be the lack of trained staff, The Hotels Association of Sri Lanka (THASL) President Jayantissa Kehelpannala said during the association’s Annual General Meeting held this week.

SEC mulls minimum credit rating for debt issuances

The Sri Lanka’s capital market watchdog Securities and Exchange Commission (SEC) is currently considering the restriction corporate debt issuances which are coming with below investment grade, according to a top SEC official.

Ceylon Beverage invests Rs. 238mn in restaurant subsidiary

Ceylon Beverage Holdings PLC has made a Rs.238 million investment in its fullyowned subsidiary, Pubs ‘N Places Private Limited, which is engaged in the business of owning and franchising out restaurants.

Hameedia to dress Lankan cricketers

Sri Lanka Cricket yesterday announced the appointment of men’s clothing specialists, Hameedia, as the official formal clothing sponsor of the Sri Lanka national cricket teams.

CHOGM, ideal platform to exhibit country’s progress: SLBA

The Sri Lanka Banks’ Association (SLBA) is highly optimistic on the upcoming Commonwealth Heads of Governments Meeting (CHOGM) as it is confident the event will bring an array of opportunities for not only the banking sector, but for the entire business community.

Let’s celebrate November-The World Quality Month

Japan was the first to declare a nationwide “Quality Month” in November in the 1960s as part of its drive to excel in quality. The initiative was taken by the Japanese Union of Scientists and Engineers (JUSE).

Sri Lanka slips in WB’s Doing Business Index

Sri Lanka has fallen four places down the World Bank's latest list of best places to run a business. In the latest World Bank's Doing Business Index, Sri Lanka has been ranked 84, down from 81st place it enjoyed in the 2013 Doing Business Index

Individual freedom, open society vital for high economic growth

An open society with equal access to opportunities and a respect for individual freedoms is a vital prerequisite for high-level economic growth, according to New Zealand’s former Finance Minister, Ruth Richardson.

Browns Investments to acquire controlling stake in Sun & Fun

Browns Investments PLC said it has signed an agreement with Sun & Fun Resorts Ltd to invest Rs.250 million to acquire 50.1 percent of the company and to construct a four-star international standard hotel in Pasikudah with 71 rooms.

Lubricant consumption contracts in 2012

Sri Lanka’s lubricant consumption in 2012 has declined by as much as 2,220 kilolitres (or 3.8 percent) to 56,334 kilolitres from a year ago, according to lubricant market shadow regulator, the Public Utilities Commission of Sri Lanka (PUCSL).

Sri Lanka's resilience masks medium-term credit risks: Fitch

Sri Lanka is the only twin-deficit country in Asia having a growth unaffected by currency volatility, according to Fitch Ratings (Fitch).

India's Maruti to set up manufacturing plant here

Maruti Suzuki India Limited, (Maruti Suzuki), India’s largest car manufacturer yesterday announced their plans to set up a car manufacturing plant in Sri Lanka and are confident of starting operations as early as next year if all goes well.