Premier attends Smart Class

Prime Minister Ranil Wickremesinghe, Deputy Minister Harsha de Silva and Education Minister Akila Viraj Kariyawasam visited the Grade 7 ‘Smart Class’ at Jayawardenepura Vidyalaya yesterday. The Prime Minister also participated in the lessons along with the 

VW takes new US$3 bn hit over diesel emissions scandal

REUTERS: Volkswagen added provisions of around 2.5 billion euros (US$3 billion) yesterday to the mounting total from its diesel emissions scandal, which has already cost the company around 20 billion euros.

Asia shares recuperate after rough week, dollar in better health

REUTERS: Asian shares regained some poise yesterday after a tough week in which the gathering risk of a U.S. rate rise lifted Treasury yields toward nine-year highs and left the dollar on track for its best week so far this year. 

Rupee edges up on inward dollar remittances

REUTERS: The Sri Lankan rupee closed slightly firmer yesterday as dollar sales by banks due to inward remittances surpassed demand for the U.S. currency from importers to pay for their purchases, dealers said.

Airbnb enters restaurant reservation business

AFP: Rent-a-room giant Airbnb is now in the restaurant reservation business, hoping to provide customers with a memorable meal before they drift off in their home away from home.

World Bank provides US$125 mn loan for low-cost road network

Sri Lanka is joining other countries in moving from a traditional approach to road infrastructure and maintenance which pays the contractor based on progress, to a new approach based on contractor performance. 

SL should be ready to change monetary policy if private credit accelerates: IMF

The International Monetary Fund (IMF) yesterday warned Sri Lanka should be ready to change its monetary policy if any unexpected shocks lead to increased credit growth in already sensitive sectors of the economy, despite a clear decline in private credit growth. 

Lanka Ashok Leyland hands over 25 tippers to Maga Engineering

Lanka Ashok Leyland CEO Umesh Gautam handed over another consignment of 25 Ashok Leyland 10.5 cbm tippers with BS3 and ABS Brakes to Maga Engineering Private Limited CEO Piyadasa Madarasinghe recently.

A Barra-stravagant Feast: Ramada Colombo brings Round Island Barramundi to the table

Has fine dining and seafood been on your mind?Cast your net wide and step out of your comfort zone to experience delicious multi-cuisine dishes created with the freshest, flakiest barramundi sourced 

INSEE Cement lays foundation for Galle’s first vertical cement grinding plant

Entering an important new phase in the company’s history, INSEE Cement laid the foundation stone and commenced building a US $ 14 million vertical cement grinding plant in  Galle recently.

CCC wins CMO Asia ‘Most Promising Mixed-Use Development’ Award

Colombo City Centre (CCC), an upcoming mixed-use venture developed by the Abans group in collaboration with SilverNeedle Hospitality, attained the illustrious award for ‘Most Promising Mixed-Use Development’, at the eighth annual CMO Asia Awards 2017, which was recently held at Le Meridien, Sentosa, Singapore.

OBD additives to fasten decomposition of plastics and polythene

In the aftermath of the decision by the government to ban the use of polythene lunch sheets, rigifoam boxes and shopping bags, with effect from the beginning of this month, New Nawaloka Trading is introducing oxo-biodegradable (OBD) additives so that they could convert long-life polyolefin plastic bags to degrade after a pre-programmed lifespan of complete mechanical integrity.

Seylan Bank partners Construct Exhibition 2017 for 2nd consecutive year

Seylan Bank partnered Construct Exhibition 2017 as the official banker for the second consecutive year. 

Dynasty Residence achieves LEED certification

GVR has set a new standard in the development of luxury residential buildings in Sri Lanka by integrating environmentally friendly and sustainable features into its Dynasty Residence in Kandy. 

ComBank receives two awards from Asiamoney

Commercial Bank of Ceylon recently received two prestigious international awards from Asiamoney, for the ‘Best Domestic Bank’ and ‘Best Digital Bank’ in Sri Lanka.  The awards were accepted on behalf of the bank by its Deputy General Manager Corporate Banking Sanath Manatunge at a gala ceremony at Ritz-Carlton in Beijing. 

EY discusses SLFRS 9, 15, 16 implementation issues in Sri Lanka

Ernst & Young (EY) Sri Lanka hosted its clients to a forum on sharing insights on the practical implementation of new Sri Lanka Accounting Standards.

NDB Good Life credit cards offer 60% savings on your vacation

With National Development Bank PLC (NDB) Good Life credit cards, customers can now enjoy amazing discounts on their luxurious getaways to the theme resorts.

The A&K Lit Fest promises a mouthwatering pickle of literature

The A&K Lit Fest comes alive for the third consecutive year with its promise of promoting the Sri Lankan identity through literature. Following two successful chapters, the literary festival is set to 

Amjath Nazeer becomes youngest CA student to complete final exams

Amjath Nazeer, a 20-year-old, created history recently when he became the youngest ever student to complete the final exams, including the case study at the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka). 

China’s rising ‘i-can’ generation reshaping country’s economy and world economy

In the 1950s and 1960s, the world economy was transformed by the emergence of the American consumer. Today, China’s rising ‘i-can’ generation is in the economic  driving seat.

Sri Lanka, you have a right to know!

Yesterday, the world marked the International Day for the Universal Access to Information. Fittingly, we in Sri Lanka, celebrate seven months since the Right to Information (RTI) Bill was enacted.  

US Trade Rep stresses need for Sri Lanka actively promoting its exports agenda

Sri Lanka has been on the active lookout to improve its bilateral trade with the economic giants and the United States (US) is one of them. The interest is observed to be mutual, given the number of initiatives taken place in the recent past. However, to pick up pace that would allow both nation to 

Whither good governance? Government’s PPP boss throws media out of top forum

The earnestness of the government’s claims to power—transparency, media freedom and good governance—was sorely tested yesterday, when the Finance Ministry’s National Public Private Partnership Agency’s Chairman & Acting CEO Thilan Wijesinghe had members of the media thrown out of an event to restrict the public release of information. 

Sri Lanka announces mega shopping festival targeting tourists

Newly established Sri Lanka Retailer’s Association joined forces with the Tourism Development and Christian Religious Affairs and Sri Lanka Tourism Promotion Bureau to organize the first ever Colombo International Shopping Festival set to take place from 1st October to end November.

SriLankan receives ‘Four Star’ rating from APEX

SriLankan Airlines added another feather to its cap by being honoured with a prestigious’ Four Star’ rating from the Airline Passenger Experience Association (APEX) in the first ever airline industry rating programme based solely on feedback from passengers.

Tourism earnings down but remittances up in July

The fund flows to the current account of the country’s external account remained mixed in July.  The earnings from tourism in July slipped by 1.8 percent YoY to US $ 352.5 million while worker remittances were up by 3.4 percent YoY to US $ 592.1 million after falling four months in a row.

SL’s exports growth on track but higher oil bill stretches trade gap

The restoration of the GSP Plus facility, higher prices received for tea and the weaker currency appear to have propelled Sri Lanka’s export earnings but the higher oil bill is showing signs of becoming a headache, threatening the attempts to contain the expanding trade gap in the import dependent economy.  In July, Sri Lanka exports grew by 13.9 percent year-on-year (YoY) to cross a billion dollar mark – the second month to exce

Stocks close at 1-week high on foreign buying

REUTERS: Sri Lankan shares closed at a one-week high yesterday, as investors bought banking stocks and continued foreign buying in the market underpinned positive sentiment, brokers said. The Colombo stock index ended 0.2 percent up at 6,419.47, its highest close since Sept. 21.

Anti-dumping legislation in parliament next month: Rishad

The much awaited anti-dumping legislation has been cleared by the Attorney General and is ready to be presented to parliament, the country’s Industry and Commerce Minister Rishad Bathiudeen said.

SL to retender ex-Cairn block for development

The Petroleum Resources Development Ministry has reopened the ex-Cairn M2 block in the Mannar Basin for development and commercialization through a limited tender offer under a strategic plan to expedite oil and gas exploration and development,