US $ 800mn by agents? Subject minister misled by so-called agency monopolists

Once again, the so-called association has lied to the ports and shipping minister. Let us break down the below three points mentioned by the so-called kingpins of shipping from two leading companies in the industry.

Liberalisation – A clean and clear approach

The budget 2018 presented a breadth of fresh air and a glimmer of hope for Sri Lanka’s weary economy and public, with some strong steps towards liberalisation under a blue-green banner. Much of the initiatives that were suggested to boost entrepreneurship, agriculture, trade and investment will pave the way for heightened interest from both local and foreign stakeholders and what we now require is a consistent and sustainable policy in the

BoardPAC concludes successful CRM event in Malaysia collaborating with Maxis

BoardPAC, home-gown multinational board meeting automation solutions provider, successfully conducted a special customer relationship management (CRM) event in Malaysia recently, which attracted a number of BoardPAC customers of the country.

Mega Mass opens new showroom in YMBA Borella

Mega Mass, being engaged in the field of computer hardware and software for more than a decade opened its new showroom at the YMBA Complex in Borella. Mega Mass has been selling most of the prime brands of computers, printers and scanners, ensuring maximum satisfaction to their reliable customers.

Geek Fam wins Asia Pacific Predator League 2018

In one of the most exciting and nail biting finals, the Asia Pacific Predator League 2018 DOTA 2 championships was concluded on Sunday in Jakarta Indonesia. After four days of playoffs between teams from eight countries, the finale was a hard fought best-of-three competition between favourites Geek Fam (Malaysia) and BOOM.ID (Indonesia), with Geek Fam lifting the much coveted Acer Predator Shield 2018 and US$50,000. The total prize pool was US$15

Office Network launches Foxcam in Sri Lanka

Office Network (Pvt.) Ltd, the pioneering office automation solutions provider, launched the latest addition to its product portfolio, a range of total surveillance solutions equipment under its own brand name Foxcam, at a gala ceremony held at the Taj Samudra on January 6th, 2018.

Lanka Bell connects over 50,000 homes and businesses with Bell4G

Lanka Bell, Sri Lanka’s iconic telecom operator has achieved a significant milestone of reaching over 50,000 households and businesses with its fourth-generation LTE internet connectivity; Bell4G.

Gas price revision required to adjust current retail price in Sri Lanka

LPG retailers in Sri Lanka have been compelled to increase the price of a domestic gas cylinder due to global LPG gas price hikes that has been ongoing since October 2016.   

Singapore Trade Minister visits CCC

Singapore Trade and Industry Minister S. Iswaran this Wednesday paid an onsite visit to the Colombo City Centre (CCC), a joint venture project between Sri Lanka’s Abans group and Singapore’s Silver Needle Hospitality.

Professor Amaratunge tells CA Sri Lanka conference to be unique or face failure

Vice-Chancellor of University of Sri Jayewardenepura Professor Sampath Amaratunge recently said companies, products and individuals including professionals must harness their uniqueness or else face failure. 

Lativian President commends Heritance Ahungalla hospitality

Five-star luxury hotel Heritance Ahungalla welcomed Lativian President Raimonds V?jonis and Latvian First Lady Iveta V?jone for a short stay during their 10-day state visit to Sri Lanka. 

Outbound travel agency Hemas Travels opens Jaffna office

Hemas Travels (Pvt.) Ltd, the leading outbound travel agency in Sri Lanka, has spread its wings in the rapidly developing city of Jaffna. 

Sri Lanka Tourism powers first Ironman event in South Asia

The world’s leading triathlon enters the Sri Lankan market, showcasing Sri Lanka as a global destination for international sporting events. The Sri Lanka Tourism Promotion Bureau (SLTPB) will be the title sponsor of the inaugural Ironman 70.3 Colombo Triathlon, which will be held at Galle Face Green, Colombo on February 25, 2018.

SL expects upward revision in doing business ranking amid World Bank controversy

The World Bank controversy on the Ease of Doing Business Index rankings has spilled over into Sri Lanka with the World Bank contradicting a statement by Central Bank Governor Dr. Indrajit Coomaraswamy that Sri Lanka would be receiving a higher ranking.

Oil hits US $71 for first time since 2014 on tighter supply and weak dollar

REUTERS:  Oil hit US $71 a barrel yesterday for the first time since 2014, supported by OPEC-led supply curbs, a record-breaking run of declines in U.S. crude inventories and a weaker U.S. dollar.

Rupee firmer on bank, exporter dollar sales

REUTERS: The Sri Lankan rupee ended firmer yesterday, further moving away from a record low hit earlier this week, as banks and exporters sold dollars, dealers said.

High profile Japanese business delegation meets President

A group of representatives of the Japanese Chamber of Commerce and Industry (JCCI) Economic Mission, who visited Sri Lanka to explore new business and investment opportunities, met with President Maithripala Sirisena at the President’s Official Residence, in Colombo yesterday. 

SLAITO releases detailed report on how to tackle Yala over-visitation issue

The Sri Lanka Association of Inbound Tour Operators (SLAITO) has produced a detailed report on how to optimally manage the issue of over-visitation to the Yala National Park and protect the interests of all stakeholders. 

Sri Lanka mulls FTA with Indonesia

President Maithripala Sirisena and visiting Indonesian President Joko Widodo have drawn their attention towards signing a Free Trade Agreement (FTA) to promote bilateral trade between the two countries, President Sirisena’s media division said.

SLAITO hands over Impactful report which proposes equitable solution to manage over-visitation at Ya

The Sri Lanka Association of Inbound Tour Operators (SLAITO) at recent meeting with the Hon Minister of Tourism

Govt. has no intention to bring bond rogues to book: Cabraal

Former Central Bank Governor Ajith Nivard Cabraal said yesterday the government was taking extreme measures to control the damage caused by the Central Bank (CB) bond scam instead of taking action to bring the culprits to book.

Credence Genomics and India’s Apollo Hospitals invest in biotechnology platform

With an initial investment of US $ 3 million from both sides (on equipment and infrastructure), Sri Lanka’s Credence Genomics and India’s Apollo Hospitals Group initiated a platform that would bring the areas of healthcare, biotechnology and research together in the medical sector.

Jaffna International Trade Fair opens today

Jaffna International Trade Fair (JITF 2018), the largest Consumer Exhibition and Trade Fair in the fast-growing northern region of Sri Lanka, opens today (26th) and will go on till the 28th for the 8th consecutive year. 

FIFA World Cup™ Trophy Unveiled by His Excellency the President and Hon. Prime Minister

The FIFA World Cup™ Trophy was officially handed over to H.E. Maithripala Sirisena - President of the Democratic Socialist Republic of Sri Lanka 

New Knorr Biryani Mix adds Lip-Smacking Flavour at the Grand Finale

Starting the year on an aromatic note, the grand finale of the Biryani Challenge organized by Knorr, in partnership with Keells Super

Govt. to set up agency to monitor RPCs

The Plantation Industries Ministry will set up an agency to monitor the 20 regional plantation companies (RPCs) on their tea production operations and financial affairs. “We have to get the processes right. Especially in the RPCs, we have to get some monitoring system in place,” Plantation Industries Minister Navin Dissanayake said yesterday during a media briefing.

Softlogic announces plans to raise Rs.7bn via private placement, rights

Diversified conglomerate Softlogic Holdings PLC with interests in retail, ICT, healthcare and financial services, automobile and leisure, yesterday announced plans to raise little over Rs.7 billion via a private placement and a rights issue to restructure the company balance sheet and improve its key capital ratios.

Absence of price formula, rising crude prices hamper Lanka IOC Dec. performance

The local unit of Indian Oil Corporation Limited, Lanka IOC PLC, reported a net loss of Rs.340.1 million or 64 cents a share for the October-December quarter (3Q18) from a comparable period net profit of Rs.257.5 million or 48 cents a share. 

SL-S’pore FTA not without traditional faults stemming from weak negotiations: economist

The Sri Lanka-Singapore Free Trade Agreement suffers from the traditional faults of Sri Lanka negotiating weaker free trade agreements (FTAs) and the country should look towards unilateral reforms and liberalizations instead of FTAs to get the required boost in exports, Institute of Policy Studies Chairman Professor Razeen Sally opined.

Shares recover; Ceylon Tobacco up on foreign buying

REUTERS: Sri Lankan shares rose yesterday after two straight sessions of decline, helped by gains in Ceylon Tobacco Co on foreign investor buying.