Softlogic bags Delifrance franchise

Diversified conglomerate Softlogic Holdings PLC has entered into a master franchise agreement with France’s Delifrance S.A., to develop, open and operate Delifrance outlets in Sri Lanka with its trademarks.

Key metrics are critically important when measuring success of an agile company

Leaders often can encounter ‘information overload’ in their work. They know the importance of measuring results but can find themselves faced with an overwhelming hodgepodge of numbers rather than a simpler and more focused set of data that is truly useful for making decisions that lead to achieving their organisational vision.

The reality of investment risk

When it comes to risk, here’s a reality check: All investments carry some degree of risk. Stocks, bonds, mutual funds and exchange-traded funds can lose value, even all their value, if market 

Navin calls to end populist govt. intervention in rubber industry

Plantation Industries Minister Navin Dissanayake yesterday asserted that the populist government interventions in Sri Lanka’s rubber industry have indirectly led to subsidization of big businesses as well as to corruption, 

Sancharaka Udawa 2018

The 8th edition of the tourism and travel fair ‘Sancharaka Udawa’ was inaugurated by Tourism Minister John Amaratunga at the BMICH yesterday.  The two-day event which is being organized by Sri Lanka Association

Mangala holds discussions with ADB to expedite projects in Sri Lanka

Minister of Finance and Media Mangala Samaraweera who is currently attending the 51st Annual meeting of the Asian Development Bank (ADB) in Manila held discussions with In-Chang Song, an Executive Director of the Board of ADB at the ADB Headquarters yesterday.

EFC calls for grassroot level interventions to ensure OSH standards at workplace

At a time when ‘youth are a rare resource’, the need to give priority to Occupational Health and Safety (OSH) measures at the workplace is unprecedented, observed the Director General, Employers’ Federation of Ceylon (EFC), Kanishka Weerasinghe. The EFC Chief made these observations at the ILO-initiated workshop held on World Day for Safety and Health at Work recently. 

THASL invites SLTDA to run joint workshops in major touristic areas

The President of The Hotels Association of Sri Lanka (THASL) Sanath Ukwatte said the recent incidents in Mirissa and harassment of foreigners in general has brought in great disrepute and has tarnished the cou

TEA welcomes removal of glyphosate ban

The Tea Exporters Association (TEA) welcomes the government decision to lift the ban on use of glyphosate weedicide on tea and rubber plantations. The Association thanks the President and the Prime Minister for the decision taken in the best interest of plantation sector and also the national economy.   TEA itself addressed a letter 

Asia stocks ease, dollar off highs before U.S. payrolls

REUTERS: Asian shares fell yesterday while the dollar ran into some profit-taking after several weeks of strong gains as financial markets turned their attention to looming U.S. payrolls data for fresh catalysts.

Sri Lanka attracts US$ 465 mn FDI in 1Q

Sri Lanka has attracted US $465 million in Foreign Direct Investment (FDI) in the first quarter of 2018 (1Q18), exceeding the Board of Investment (BOI) target of US $378 million for the period, Development S

We need to invest more in higher education. Here’s why

There is a long-standing debate about whether development assistance should finance tertiary education. The debate largely revolves around the impact of public subsidies for university students on income distribution and equity.

Measuring rice yield from the sky

Nearly 70 percent of the world’s poor live in rural areas and rely on agriculture for their livelihood. Target 2.3 of the Sustainable Development Goals (SDGs) aims to double the agricultural productivity and incomes of small-scale food producers by 2030.

Mounting debt threatens Sustainable Development Goals

In 2015, 193 countries adopted the 17 Sustainable Development Goals (SDGs) as an overarching policy roadmap through 2030. These goals are predicated on the idea that for a sustainable future, economic growth must go hand-in-hand with social inclusion and protection of 

Former Central Bank Governor accuses govt. of meddling with GDP calculations

Former Central Bank Governor Ajith Nivard Cabraal yesterday claimed that the government has meddled with GDP calculations in 2014, 2015 and 2016 to increase the real GDP growth rate of 2016 from 2.2 percent to 4.4 percent.

Stocks edge higher as financials gain

REUTERS: Sri Lankan shares ended marginally firmer, led by financials, though gains were muted as investors looked for fresh cues from political and economic fronts, brokers said.

Rupee holds steady near record low

REUTERS: The Sri Lankan rupee ended steady yesterday, holding near the record low hit in the previous session, as importer dollar demand was met by greenback sales by state banks, dealers said, while a top Central Bank official warned against 

Transparency, clear communication strategy highlighted as key for Public-Private Partnership success

Transparency and a clear communication strategy were presented as the key factors behind the success of the Public-Private Partnership (PPP) Centre of the Philippines—a case in point where Sri Lanka could definitely take 

ADB to increase lending to Sri Lanka this year

 The Asian Development Bank (ADB) yesterday said it would substantially increase its lending to Sri Lanka this year as the country has undertaken larger development projects in rece

Braving the heat wave…

Tourists were seen sunbathing at the Trincomalee Beach in Sri Lanka’s Eastern Province, despite the heat-wave advisory issued by the Meteorological Department yesterday, that included the Eastern Province

Mangala to address 51st ADB Annual Meeting in Manila, Philippines

Sri Lanka’s Finance and Mass Media Minister Mangala Samaraweera arrived in Manila, the Philippines, yesterday to take part in the 51st Annual Meeting of the Asian Development Bank’s (ADB) Board of Governors.

President intervenes to remove exorbitant charges on gem and jewellery exports

President Maithripala Sirisena has intervened in removing the exorbitant service charges slapped by the National Gem and Jewellery Authority (NGJA) on gem and jewellery exports and asked the NGJA Chairman and Director General (DG) to tender their resignations following a meeting the President had with the members of the Sri Lanka Gem and Jewellery Association (SLGJA) and other industry stakeholders last week, a SLGJA member told Mirror Business.

Lankan firm partners big Chinese travel agency to bring additional tourists

Green Leaves Leisure (Pvt.) Ltd, a subsidiary of Green Leaves Group, on Tuesday guaranteed to bring 16,000 additional Chinese tourists to Sri Lanka monthly for the next 10 years, commencing this May, with the aim of making China the largest source market for the local tourism industry by the year end.

Apparel exports grow slow in 1Q18

Sri Lanka’s apparel exports grew at a slower pace than the industry expectation during the first quarter this year, recording a growth of 4.1 percent to reach US $ 1.269 billion, compared to the US $ 1.219 billion recorded in the first quarter of 2017, the latest apparel export data released by the Joint Apparel Association Forum (JAAF) indicated.

Rupee hits all-time low; cenbank intervenes

REUTERS: The Sri Lankan rupee hit a fresh low on Wednesday on importer demand for the U.S. currency, dealers said, but recovered after the central bank intervened in the market.

Rupee recovers from all-time closing low

REUTERS: The Sri Lankan rupee gained for the first time in seven sessions yesterday, edging up from a record closing low hit in the previous session, dealers said. The currency hit a record l

SBI to close down Jaffna branch: reports

The State Bank of India (SBI) has decided to shut down six non-viable overseas branches, which includes the Sri Lanka’s Jaffna branch, according to Indian news reports. 

Lankan firm partners big Chinese travel agency to bring additional tourists

Green Leaves Leisure (Pvt) Ltd., a subsidiary of Green Leaves Group, yesterday guaranteed to bring 16,000 additional Chinese tourists to Sri Lanka monthly for the next 10 years commencing this May, with the aim of making China the largest source market for the Sri Lankan tourism industry by year end. Addressing a press conference

Dinesh next HNB Chairman

Dinesh Weerakkody, the former Chairman of Commercial Bank of (Ceylon) PLC, will take over as the Chairman of Hatton National Bank PLC (HNB) with effect from May 26, 2018.

Ceylon Tea risks losing Japanese market

Sri Lanka risks losing a key market for its high and medium grown teas as tea exports to Japan remain close to zero during this year amid Japanese authorities rejecting several tea shipments during last four months amounting in value to approximately Rs.1 billion, Mirror Business learns.