Iconic Developments reiterates confidence in Sri Lankan real estate outlook

Leading South Asian property developers, Iconic Developments (Pvt.) Ltd. reiterated its confidence in the growth outlook of the Sri Lankan real estate sector, following recent concerns as to the pace of growth in the sector.

Shares end lower on profit-booking; John Keells falls

REUTERS: Sri Lankan shares ended lower yesterday, recording their first weekly decline in nine, as investors booked profits in shares of diversified companies such as John Keells Holdings Plc and Melstacorp Plc.

SLT ‘Free Access to Social Media Avurudu Campaign’ dubbed a great success

Sri Lanka Telecom (SLT), the nation’s leading Internet solutions provider, launched a special Avurudu campaign, which allowed all SLT broadband customers the chance of gaining access to social media absolutely free of charge during the peak of the Avurudu season.

China’s credit rating slashed

Students walk along a street during lunch hour in Beijing. Moody’s on May 24 slashed China’s credit rating for the first time in almost three decades citing concerns about the country’s rising debt and slowing growth,

Edirisinghe Cushion works opens new Negombo branch

The leader in vehicle cushion work Edirisinghe Cushion Works opened its new branch on Colombo Road, Kurana, Negombo recently.

ComBank and World Mastercard rock MLTR concert with draw for iPhone 7

Fans of Michael Learns to Rock had a blast at the Danish soft rock band’s sold-out concert in Colombo on May 18, but one of them had more to cheer about – an iPhone 7 from Commercial Bank, the official banking partner for the event.

BMICH staff presents Bakthi Gee

For the first time in the 44-year history of the BMICH, 30 staff members from across all departments came together to present an evening of Bakthi Gee on the Vesak Poya day to commemorate the 14th United Nations International Day of Vesak. The performance was held at the entrance to the BMICH premises where the ‘Bakthi Gee’ singing was enjoyed by the large crowds visiting the Baudhdhaloka Vesak Kalapaya 2017.

Serendib Flour Mills brightens up Vesak celebrations with students, local communities

Serendib Flour Mills as part of its corporate social responsibility (CSR) commitment recently celebrated the religious festival of Vesak by organising a lantern competition for 40 students from the Centre for the Education of Hearing Impaired Children (CEHIC). 

Perera Tyre Service honours dealers

The tour of Vietnam organised by Perera Tyre Service (Pvt.) Ltd of Malabe to reciprocate its outstanding dealers and fleet owners who achieved sales targets from Petlas, Toyoma, Pearl River, Chaoyang and Sunfull-branded tyres successfully ended last week.

UCL hosts first Info-Biz Challenge 2017; launches partnership with Central Lancashire University

Recognising individual competencies and to develop entrepreneurship skills of the Sri Lankan youth, UCL took the forward march to initiate Inter-School Info-Biz Challenge Trophy ’17 recently at Havelock City. 

Asiri Health commemorates Vesak with unique, caring gift

Vesak, commemorating Lord Buddha’s birth, attaining enlightenment and death, has become a national event in our country. Devotees keenly engage in meritorious acts including organising events such as pandals and dansals.  

Fior Drissage Jewellers commits to only natural genuine diamonds policy

Fior Drissage Jewellers Limited (FDJ), pioneers in manufacture of jewellery using the revolutionary Floating Diamonds setting process stressed its commitment towards the use of only natural genuine diamonds or gems for all its products manufactured across the manufacturing plant located in the close proximity of Colombo – Katunayake Express Way. 

Leo Burnett distributes 10,000 apples at annual Vesak dansala

Leo Burnett Sri Lanka commemorated the UN International Vesak Day with its apple dansala at Bauddhaloka Mawatha Vesak Kalapaya for the seventh consecutive year. 

99X Technology Quiz Team crowned Biz Quiz 2017 Champions

After hours of tense battle among some of the most knowledgeable masterminds in the corporate sector, the 99X Technology Quiz Team emerged victorious and was crowned the Overall Champions at the fifth Glitz Biz Quiz, in addition to sweeping up the Sector Award for the IT and Software Category – retaining this title for the fifth consecutive year.

Hilton Colombo Participates in Hilton’s Largest Annual Global Career Initiative

Hilton Colombohas taken part in Careers@Hilton Week, Hilton’s annual global career event showcasing the many opportunities available in the hospitality industry for youth and other job 

Top economist portrays SL’s economic ills with colourful metaphor

The ostriches, lame ducks and Icaruses in the government must be caged for it to take flight like a flamingo and transform the dead economy into a competitive Asian Tiger, a senior economist in the country told a forum in Colombo, this week. 

Commerce Minister refutes Lanka Sathosa privatization rumours

Industry and Commerce Minister Rishad Bathiudeen yesterday rubbished rumours about a possible privatization of the state owned Lanka Sathosa chain to a diversified conglomerate in the country. 

Court orders notice be gazetted to liquidate Lanka Sugar

Commercial High Court ordered that a notice be gazetted to the effect that a case had been filed to liquidate Lanka Sugar Ltd. 

Watawala March profit soars as tea segment returns to profit

Watawala Plantations PLC group, which owns and runs tea, rubber and palm oil estates, reported earnings of 89 cents a share or Rs.211.8 million in after-tax profits for its fourth and final quarter ended in March 31, 2017, recording an increase of 168 percent year-on-year (YoY), the interim results released to the Colombo bourse showed. 

Sri Lanka to unveil new Private–Public Partnership unit during top business gathering

Sri Lanka will launch its Private –Public Partnership (PPP) Unit, set up through a Cabinet decision at the upcoming ‘Sri Lanka Investment and Business Conclave 2017’, which will take place on the 30th May to 01st June 2017, in Colombo.

MMBL-Pathfinder and ITC subsidiary to develop mid-market hotel chain in Sri Lanka

MMBL Leisure Holdings (Pvt.) Ltd. a subsidiary of the MMBL-Pathfinder Group and WelcomHotels Lanka (Pvt.) Ltd., a subsidiary of ITC Limited, India, have inked a Memorandum of Understanding to develop a mid-market hotel chain in Sri Lanka.

China says new Silk Road not about military ambitions

BEIJING: China’s ambition to build a new Silk Road is not about seeking to expand its military role abroad nor about seeking to set up foreign bases, the Defence Ministry said yesterday.

Food revolution: Megabrands turn to small start-ups for big ideas

LONDON: Food and drink megabrands are seeing their sales chewed away by smaller, nimbler, cooler rivals. They can’t beat them - so now they’re joining them.

NDB committed to bring success to women entrepreneurs

‘When sleeping women wake, mountains move’ a famous Chinese proverb is starting to become more and more relevant in today’s context, in an era where the role of women havebecome ever more essential in the development of economies across the world.

Samsung S8, S8 Plus exceed all expectations in market: Samsung Sri Lanka

Samsung Sri Lanka introduced the stylish and feature-packed S8 and S8 Plus to the Sri Lankan market with a mega launch last month. Already, S8 and S8 Plus have been well received in the country with exceptional results, said Samsung Sri Lanka Managing Director  Youngmin Shin.

India’s Infosys touts plan to hire Americans in face of visa pressures

REUTERS: Infosys Ltd, the India-based computer services giant, on Wednesday touted its new strategy to hire and train 10,000 American workers over the next two years at the company’s annual leadership meeting in San Francisco.

Clogard Fresh Blast Gel provides safe drinking water to NC schoolchildren

Clean drinking water is a basic necessity for healthy living. However, not everyone in Sri Lanka has easy access to safe drinking water. Having understood the battle against water-borne health hazards, Clogard, the flagship product of Hemas Manufacturing, initiated a novel campaign to provide 

India-Sri Lanka: A grim tale of economic cooperation

On May 11, Prime Minister Narendra Modi visited Sri Lanka to attend the International ‘Vesak Day’ celebrations, just two weeks after Sri Lankan Prime Minister Ranil Wickremesinghe’s five-day visit to New Delhi. PM Modi’s visit marked the seventh interaction between the Indian and Sri Lankan heads of state since 2015, which is suggestive of vigorous high-level  political engagement. 

The next migrant wave

Imagine that you are a farmer. Your crops are withering as weather patterns become more volatile, your well water is too salty to drink and rice is too expensive to buy at the market. So, you leave home in search of a better life.

Moody’s cuts China’s credit rating first time in 30 years

AFP: Moody’s this week slashed China’s credit rating for the first time in almost three decades citing concerns about the country’s rising debt and slowing growth, but Beijing rejected the downgrade as ‘inappropriate’.