SriLankan and Qantas provide options to connect new Melbourne service

SriLankan Airlines, which last month launched daily non-stop services to Melbourne, is providing its valued passengers with a wide range of options to connect and fly to major cities in Australia and New Zealand, by expanding its codeshare agreement with its long-time partner and fellow Oneworld alliance member Qantas.

Hong Kong Airlines to fly to Maldives on three-time weekly service

Hong Kong Airlines recently announced that it would operate a three-time weekly service to the Maldives from 16  January 2018.

Transworld Feeders kicks off service on Colombo-Chittagong route with Mv. OEL Shasta

Dubai-based Transworld Feeders ceremonially kicked off its newest Feeder service on the Colombo-Chittagong sector with the 1,684 TEU Mv. ‘OEL Shasta’ at the Colombo International Container Terminals (CICT) of the Port of Colombo recently.

DSI to step up in Ratnapura with latest showroom

November 30, 2017 will see DSI celebrate the opening of its third showroom in Ratnapura, which is to be one of the largest footwear outlets in town.

Ceylon Biscuits bags 6 awards including 3 Golds at NASCO 2017

Ceylon Biscuits Limited (CBL), one of the largest fast- moving consumer goods (FMCG) conglomerates in the food manufacturing industry in Sri Lanka, was among the top winners at the recently concluded SLIM National Sales Congress Awards 2017 (NASCO) in the FMCG (Food) category.

Domino’s unveils Union Place refurbished outlet

Sri Lanka’s favourite pizza brand, Domino’s, unveiled its refurbished Union Place outlet with a fresh ambiance that boasts of a vibrant and welcoming interior mixed with style and comfort. 

Amana Takaful Group well poised for an exemplary rebound

Amana Takaful Groups’ growth and profit momentum continues into the 3rd Quarter netting in a pre-tax result of Rs. 128.5Million forthe period 

Pelwatte Dairy expands distribution of 100% locally produced milk powder

Sri Lanka’s 100 percent local dairy product manufacturer, Pelwatte Dairy Industries, recently expanded its distribution of milk powder to a wider customer segment in many parts of the country. These areas include Anuradhapura, Hambanthota and Mahiyanganya.

DSI steps up in Rathnapura with their latest Showroom

The 30th of November 2017 will see DSI celebrate the opening of their third showroom in Ratnapura, which is to be one of the largest footwear outlet in town.

DIMO 800 receives accolade at National Green Awards 2017

Diesel & Motor Engineering PLC (DIMO) has once again affirmed its ongoing commitment to environmental stewardship by receiving presidential recognition at the National Green Awards organised by the Central Environment Authority. 

BOI hosts Chinese delegations from Beijing and Jilin

The Board of Investment of Sri Lanka (BOI) hosted a Chinese delegation consisting of 30 senior government officials on a fact-finding mission visit to ascertain the potential of Sri Lanka as an economic partner for trade, tourism and investment.

Thailand and Sri Lanka plan to triple bilateral trade by 2020: envoy

“Thailand and Sri Lanka have plans to triple the trade values between the two countries by the year 2020,” announced Ambassador of Thailand to Sri Lanka Chulamanee Chartsuwan, during a meeting held at the National Chamber of Commerce, on economic relationship, investments and bilateral trade between the two countries. 

Sri Lanka to host 14th SAFIR Executive Committee meeting

Sri Lanka is to host the 14th Executive Committee meeting of the South Asia Forum of Infrastructure Regulation (SAFIR) in Weligama, from November 24 to 26, 2017. 

Fairway Properties Introduce LEICHT, Germany’s No 1 kitchen brand

LEICHT, the No 1 best sold premium kitchen brand in Germany, has entered the Sri Lankan market via Centrepoint, a Fairway Holdings company. LEICHT 

Hameedia team sweeps the modern Retail sector at SLIM-NASCO

The team from Hameedia, Sri Lanka’s leading menswear specialist, won multiple awards at the Sri Lanka Institute of Marketing (SLIM) National

Coffee table book launched to mark ADB-SL 50-year partnership

The Asian Development Bank (ADB) this week launched a coffee table book to celebrate the 50-year partnership between the development partner and Sri Lanka.

Imports through free trade pacts hit record high in first eight months of this year

Imports to Sri Lanka under Free Trade Agreements (FTAs) quadrupled over the first eight months of 2017, backed by increased importation of gems and jewellery from India, according to Treasury data, pointing towards record levels of imports through FTAs this year.

ESC Act amendments boost income tax collection to August

Sri Lanka’s income tax collection increased 9.1 percent during the eight-month period from January to August 2017 compared to the same period last year due to a late boost in revenue collected through the Economic Service Charge (ESC), according to the Treasury.

Rupee edges up on exporter dollar sales

REUTERS: The Sri Lankan rupee closed marginally firmer yesterday, as dollar conversions by exporters outpaced importer demand for the U.S. currency, dealers said.

Shares hit 1-wk closing low amid heavy foreign outflow

REUTERS: Sri Lankan shares hit a one-week closing low yesterday, as investors waited for clarity on new taxes in the national budget and on key legislations, although selling by foreign investors in Commercial Bank of Ceylon helped boost turnover.

Monetary Board cancels CIFL’s licence

The Monetary Board of the Central Bank yesterday informed the Colombo Stock Exchange that it cancelled the licence granted to Central Investment and Finance PLC (CIFL).

Trade deficit with India no big deal: economist

Despite the hue and cry made by the public and a certain section of the business community on Sri Lanka’s trade deficit with its neighbouring giant, a top economist asserted such arguments do not show the real picture of the situation at hand and said one should not pay much attention to it. 

Something’s rotten at the heart of BOI?

In January this year, Prime Minister Ranil Wickremesinghe went on record saying the country targeted attracting US $ 5 billion in foreign investment over the next five to 10 years.

Healthy Life Clinic partners WCICSL to host special awareness workshop

Coinciding with World Diabetes Day of which the theme this year was ‘Woman and Diabetes’, Healthy Life Clinic together with the Women’s Chamber of Industry and Commerce (WCICSL) recently organized a special awareness workshop.

Foreign investment at CSE hits all-time high

In what continues to be a promising year for foreign investor involvement at the Colombo bourse, 2017 has recorded an all-time high foreign investor interest, with Rs.105.1 billion (year-to-date) in foreign purchases, passing the previous record of Rs.104.7 billion set in 2014. 

Local market will be opened to preferential foreign access under FTAs over 8 to 10-year period: PM

The Sri Lankan market will only be exposed to preferential foreign access over an eight to 10-year period under the trade agreements the government is currently negotiating, according to Prime Minister Ranil Wickremesinghe.

BOI chief says future EPZs will be PPPs

The Board of Investment (BOI) will discontinue the existing ownership structures for the new export processing zones (EPZs) and follow a public-private partnership (PPP) process, which will be exemplified by Rojana’s development of the Milleniya EPZ, according to the BOI head.

Ceylinco Insurance grows GWPs by 7% in 3Q despite challenging conditions

Ceylinco Insurance PLC recorded a positive growth in gross written premiums (GWPs) during the three months to September (3Q17) as the insurance giant expanded business despite the challenging market conditions, particularly with regards to its life segment.

SL must do away with its obsession with Tamil Nadu: economist

Indo-Sri Lanka trade has the potential to reach new heights if the island nation is ready to do away with its obsession with Tamil Nadu, a top economist said, a move according to him, would also help to iron out the issues in boosting Lankan exports to the neighbouring giant.

Hemas Hospitals hosts awareness campaign celebrating World Diabetes Day

Sri Lanka’s premium healthcare partner Hemas Hospitals Thalawathugoda conducted a special awareness campaign in lieu of the World Diabetes day which fell on November 14th.