HSBC brings the spirit of Christmas to the city (VIDEO)

?Celebrating the start of the holiday season, HSBC unveiled, "Christmas at the Arcade" with the big Christmas tree lighting and a seasonal zone, at the Arcade Independence square on 4 December, 2015.

Politics trumps professionalism!

As the new government is heavily caught up with the tweaking of its financial plan for greater economic prosperity, a top economist in the country pointed out that politics in the most cases trumps professionalism as budgets end...

New Managing Director at Ports Authority

?Sarathkumara Premachandra has been appointed as the Managing Director of the Sri Lanka Ports Authority (SLPA). The official appointment was handed over to Premachandra by Ports and Shipping Minister Arjuna Ranatunga at a special meeting held at the SLPA recently.

Sri Lanka to launch fresh bid round for oil and gas blocks

Sri Lanka will begin a fresh international bidding process for the development of offshore oil and gas blocks in the Mannar Basin from the first quarter of 2016, a top government official told Mirror Business.

Quality check on tea exports

Plantation Industries Minister Naveen Dissanayake paid a visit to the Trico Container yard at the Grandpass Harbour entrance in Colombo recently.  The minister inspected the facility installed at the yard to check the standard of the tea being exported from Sri Lanka.  The facility was launched with the assistance of the

Best Annual Report

?The grand finale of the 51st Annual Report Awards organized by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) was held at Waters Edge, Battaramulla yesterday.

Global spillovers to weigh on Lankan economy in 2016: PM

The Sri Lankan economy may face a downturn in 2016 due to the events unfolding in the global arena, but should nevertheless work towards a 6.5 percent growth, Prime Minister Ranil Wickremesinghe said at the 30th anniversary celebration of the Colombo Stock Exchange.

Surge in tourist arrivals

?Foreign tourists walk besides a Buddha statue in Vihara Maha Devi Park in Colombo yesterday.  Tourist arrivals to Sri Lanka gained 8.8 percent year-on-year in October, government data showed. AFP 

Employers’ Federation slams private sector wage increase

Sri Lanka’s employers’ representative body to deal with labour issues, the Employers’ Federation of Ceylon (EFC) yesterday slammed the government for proposing to increase private sector wages. 

Shangri-La’s Hambantota Resort set to open mid next year

Shangri-La’s Hambantota Resort and Spa, the first of the two Shangri-La hotels being constructed in Sri Lanka would be opened on June 2 next year, General Manager of Shangri-la Hotel and Resorts Sri Lanka, Mehdi Serrour said.

Singer Lifestyle Exhibition

Singer Sri Lanka Group CEO Asoka Pieris, Chairman Dr. Saman Kelegama and Non-Executive Director Gavin John Walker about to release balloons to mark the 5th anniversary of their Lifestyle Exhibition and Funfair currently held at the BMICH in Colombo. Pic by: Kithsiri de Mel

Apparel industry sets US$ 10bn export target by 2025

The apparel industry has set an annual export target of US$ 10 billion by 2025 while expanding into regional markets, the Sri Lanka Apparel Exporters Association (SLAEA) said.

Tax revisions in Budget mostly negative for apparels: industry body

The tax revisions in the 2016 Budget are likely to have negative impacts on the apparel exports of Sri Lanka, while locals may not be able to afford locally-made garments, an apex industry body said. 

Budget proposal on Govt. guarantee for NBFI deposits receives mixed reactions

The 2016 Budget’s proposal to guarantee the deposits of all non-banking financial institutions (NBFIs) may have been poorly conceived, but will have limited effects on the banking sector, experts said at the CA Sri Lanka Budget Seminar.

Budget proposals: Ravi K says open for dialogue

Embracing an open door policy in steering the government’s Treasury, Finance Minister Ravi Karunanayake yesterday told the country’s private sector to put forward their concerns on Budget 2016...

Monkey business

A tourist is seen capturing monkey tricks near the Independence Square in Colombo, taking some time off from sightseeing. 

A lengthy affair…

Finance Minister Ravi Karunanayake presenting the maiden budget of the national unity government, a four and half hour affair, which caught many off guard. This was Sri Lanka’s 70th budget. Pic by Pradeep Pathirana

‘Ceylon Tea’ brand likely to be reconceptualised: Minister

Plantations Industries Minister yesterday hinted the ‘Ceylon Tea’ brand would be reconceptualised in the near future, due to a good majority of the younger generation unable to link the name to the island nation.

No more protectionist policies for industries under new regime

Disclosing another dimension of the national unity government’s new economic policy, a senior government bureaucrat said the new administration would not continue the traditional policy of industry protectionism...

Sri Lanka set to pursue pro-western trade and foreign policy: Harsha

The country’s trade and foreign policy will be hugely pro-western going forward, according to the Deputy Foreign Minister who was speaking at the US Trade Show organized by the US Embassy and the American Chamber of Commerce at the Galadari Hotel yesterday. 

Another twist in Grand Hyatt saga

A letter from Public Enterprise Development Minister Kabir Hashim revealed that he intends to change the entire board of directors of the state-owned Grand Hyatt Hotel holding company Canwill Holdings (Pvt.) Ltd (Canwill).

Ravi meets Marks & Spencer CEO

?Finance Minister Ravi Karunanayake, during his recent visit to London, held talks with the British multinational retailer Marks & Spencer Company Chief Executive Officer Marc Bolland, a statement from Finance Ministry said. 

SLT Group 3Q15 revenue up 6% with healthy EBITDA margins

Sri Lanka Telecom, the national telecom services provider released its company and group financial performance, for the 3rd quarter 2015. 

Swiss envoy calls on Dy Minister

?Ambassador of Switzerland Heinz Walker-Nederkoorn called on Deputy Minister of Foreign Affairs Dr. Harsha de Silva at the Ministry this week to discuss matters of mutual cooperation

Alibaba’s ‘Singles Day’ shopping spree

?A woman walks out a shop past a ‘Singles Day’ sales promotional board in Beijing yesterday. Shoppers spent around US $ 9 billion in the first 12 hours of China’s ‘Singles Day’ sale yesterday, e-commerce giant Alibaba said, in the world’s biggest online shopping day (AFP PHOTO)

GE gets largest deal in 100-year history in India

This photograph taken on July 1, 2015 shows an Indian Railways diesel locomotive carrying a passenger train on Sherawati bridge near Honnawar in Karnataka. 

Agreement signed for Ceylon tea global campaign

An agreement was signed by the Plantation Industries Ministry and Phoenix Ogilvy to launch a global communications campaign to promote Ceylon tea as the most exotic tea in the world and thereby command a better premium price. 

Virtusa-Polaris deal to bring more business for Lankan operations

Virtusa Corporation’s (Virtusa) acquisition of India’s largest banking and financial services (BFS) sector IT solutions provider, Polaris Consulting Services Limited (Polaris) is expected to bring in much larger IT outsourcing engagements in its existing and new markets...

Coconut Water as energy drink

Plantation Industries Minister Navin Dissanayake opened a new production plant of Silver Mills in Giriulla that produces coconut water as packeted energy drink for the export market.

Western Megapolis development plan to be launched in February

The Western Megapolis plan is nearing its final consultative stages, and will be announced next February, an academic who is involved with the project said. “We’re still making the plan at the moment.