Sluggish consumer demand hinders Singer Sri Lanka’s March performance

Singer Sri Lanka PLC has felt the brunt of the weaker economy at the beginning of the year as sales moderated and costs escalated as a weakened rupee and rising interests rates squeezed the margins of the country’s largest consumer durables retailer.

‘Ice age’ looms for China’s outbound investment: study

REUTERS: China saw a rapid acceleration of outbound direct investment in services and industrial deals in 2016, a study showed yesterday, but an investment ‘ice age’ is looming in 2017 as authorities crack down on capital outflows.

SL’s industrial activity expands in 1Q

The Index of Industrial Production (IIP), which measures short-term changes in Sri Lanka’s manufacturing activities, expanded to 105.5 during the first quarter of 2017 (1Q17).

Chinese buyers behind surging demand for SL’s latest bonds

BLOOMBERG: A surge in demand for Sri Lanka’s latest dollar bond is putting a spotlight on the appetite for emerging-market securities, even amid the Federal Reserve’s tightening campaign.

Monetary Board to appoint external inquiry panel to probe EPF losses

In an interesting twist to the investigations into the alleged scamming of the monies in the country’s biggest pension fund, the Central Bank this week said it would appoint an external inquiry panel headed by an ex-judge to probe the allegations levelled against the bank’s own officers before handing over the case to the law enforcement officers.

Blue Mountain brightens up UN Vesak Day celebrations

The United Nations Vesak Day will be celebrated in Sri Lanka this year with the participation of Buddhist leaders from around the world, making it a landmark celebration. The three-day celebration 

Jinasena launches solar irrigation systems to boost local agriculture

Jinasena (Pvt) Limited, one of the leading water management systems and solutions providers in Sri Lanka, has launched a solar irrigation system to provide a timely boost to the country’s agriculture sector.

First two lucky winners of Caltex Star Drive receive awards

The first two winners of Caltex Star Drive (Car and Bike Chase) received their brand-new Bajaj Discover 125cc motorcycles plus a year’s worth of free engine oil at an event held at the Chevron House in Colombo 3, on May 4th. 

Clogard Fresh Blast Gel activation brings North and South together

The festive spirit of the Avurudu season helps to bring people closer and Hemas Manufacturing (Pvt) Limited,  makers of Clogard Fresh Blast Gel,  used the season’s celebration to bring the people in the North and South closer in a truly fresh and novel endeavour that cut through the geographical distance and the ethnic differences.  

India’s top court rules tycoon Mallya guilty of contempt

AFP: Indian tycoon Vijay Mallya, once dubbed the ‘King of Good Times’, was found guilty of contempt by the country’s top court yesterday, after he was found to have sent his children millions of dollars.

Quality of governance affects development outcomes, reveals UN ESCAP survey

The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) officially launched its flagship publication, the ‘Economic and Social Survey for Asia and the Pacific 2017’, simultaneously in 24 locations around the world, this week.

Macron victory ‘good news’ for trade-reliant Asia: IMF

AFP: Emmanuel Macron’s victory in the French presidential election is ‘good news’ for trade-reliant Asia as it eases fears of rising protectionism in Europe, the International Monetary Fund (IMF) said yesterday.

BoI and Int’l Trade Ministry host 2nd EU-Sri Lanka dialogue

The Development Strategy and International Trade Ministry and Board of Investment (BoI) of Sri Lanka conducted a dialogue with the European Union (EU) embassy and embassies of the EU representative countries for the second time.

Prices of essential goods drop, supply remains steady: Rishad

A steep drop in prices of essential items, sustained by steady supplies, has resulted in one of the best Vesak buying seasons for the Sri Lankan consumer, an Industry and Commerce Ministry statement said. 

NCE officials meet FinMin to discuss export related issues

National Chamber of Exporters (NCE) President Ramal Jasinghe, Secretary General Shiham and other relevant officials called on Finance Minister Ravi Karunanayake to brief him on the activities of the chamber for the current year, and also to discuss other export related issues of relevance in the current context. 

MTI proposes ‘Ground Zero’ process to restructure cabinet

MTI Consulting, over the last 18 years, has worked on organisational restructuring projects across diverse public and private organisations in over 40 countries.  In this feature, MTI applies its research, learnings and expertise to propose a ‘Ground Zero’ approach to restructure the Sri Lankan cabinet.

Hemas Vesak Lantern for 20th consecutive year

The Hemas Vesak Lantern, which is now a landmark at Braybrooke Place in Colombo since 1998, was ceremonially inaugurated by Hunupitiya Gangarama Temple Chief Incumbent Ven. Galaboda Gnanissara Thera on May 8, 2017. This Vesak Lantern will be on display till May 13 at Hemas House, No: 75, Braybrooke Place, Colombo 2. 

PF attends India’s Oceans Dialogue 2017 conference

The Observer Research Foundation (ORF) based in New Delhi, in association with the Government of Netherlands organised a conference in Thiruvananthapuram, India recently. 

PIM Alumni holds 2017/18 Chairman and Director Board installation

The PIM Alumni, the professionals’ association of the prestigious Postgraduate Institute of Management (PIM), affiliated to the University of Sri Jayewardenepura, recently concluded the official installation of its PIMA Association (PIMA) Chairman and Board of Directors for the year 2017/18, at Grand Oriental Hotel ceremoniously. 

Verité Research facilitates workshop for regional chambers and businesses

Last week, Verité facilitated a capacity building workshop for regional chambers of commerce and business associations in Sri Lanka, together with the Centre for International Private Enterprise (CIPE) and Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL). 

CB keeps rates steady amid emerging economic imbalances

The Central Bank yesterday left its key policy interst rates unchanged in the backdrop of economic imbalances in the areas of monetary and external sectors and rising inflation.    

OPPO launches Selfie Expert F3 for mid-range market to Leverage the group selfie trend

The camera phone brand OPPO, strengthened the ‘Group Selfie’ trend today by launching another Selfie Expert F3, priced at LKR. 49,990.00. The F3 is the second in line dual front camera Selfie 

Land Rover Celebrates Range Rover Evoque Landmark With Special Edition

Land Rover’s Halewood production plant in the UK has built 600,000 units of the Evoque in just six years, bringing Range Rover luxury and refinement to new customers around the world.

The Tale of Sri Lanka’s Facets over the Centuries

Over 2000 years ago a little island in the midst of the Indian Ocean received the title ‘Ratna Dweepa’ meaning Island of Jewels, in honor of the precious gemstones it produced. Early Arab traders called 

Moody’s sounds alarm bells; says downgrade possible if fiscal reforms ineffective

Sri Lanka appears to be walking a tight rope before it being stumped by a rating downgrade as the global rating agency Moody’s Investor Services yesterday warned of a possible downgrade of the Sri Lankan sovereign, unless they see a credible fiscal reform programme.

Sri Lanka’s foreign reserves dwindle to US $ 5.05bn

Sri Lanka’s foreign reserves this April slipped 1.4 percent compared to March 2017, to US $ 5.05 billion, just ahead of the government executing its plan to raise reserves to double digit levels by the end of this year.

Piramal Ceylon posts Rs.210mn net for 4Q

Sri Lanka’s only glass bottle maker, Piramal Glass Ceylon PLC, posted a net profit of Rs.209.75 million for its fourth quarter of 2017 (4Q17), slightly up from Rs.200.68 million  year-on-year (YoY).

Shares extend gains ahead of Central Bank rate call

REUTERS: Sri Lankan shares extended gains into a third session yesterday, posting their highest close in nearly one year, with blue chips leading the rise ahead of the Central Bank’s monetary policy  rate announcement.

EU envoy hopeful of Sri Lanka regaining GSP Plus

The European Union (EU) Ambassador to Sri Lanka and the Maldives, in his statement for Europe Day, said that he is hoping for the readmission of Sri Lanka into the preferential trade programme Generalized System of Preferences (GSP) Plus in the coming week.

Pan Asia Bank Chairman ups stake; but disclosures yet to arrive at CSE

Pan Asia Banking Corporation (PABC) Chairman Eshana De Silva has increased his shareholding in the bank over the last quarter, the recently released interim financial accounts of the mid-sized bank showed.