NBRO to launch reports on chrysotile fibre cement roofing sheets

Under the request made by Chrysotile Information Centre, the National Building Research Organization (NBRO) and the University of Moratuwa conducted two independent researches on Chrysotile fibre cement roofing sheets.

SriLankan accoladed at Future Travel Experience Asia Awards 2017

SriLankan Airlines was recently accoladed the title of ‘Best Full Service Airline in Central and South Asia’ for the third consecutive year at the Future Travel Experience Asia Awards 2017 in Singapore, an event that recognizes the most customer-centric airlines and airports in Asia and Oceania.

Lamudi forecasts demand for property in Galle and Colombo

There is little argument that both Colombo and the city of Galle are two of the most developed urban regions in Sri Lanka.

Emirates and flydubai expand partnership, announce new codeshare destinations

Building on the success of the initial phase of their partnership, Emirates and flydubai have announced 16 additional destinations to which Emirates’ passengers will be able travel on a single ticket.

New Alutec advances in local aluminium industry

With 30 years of experience, Anil de Silva has succeeded in revolutionising the Sri Lankan aluminium industry by identifying the trends in the international market.

Iconic Developments picks Maga Engineering as construction partner for Galaxy

Sri Lanka’s pioneer in innovative and affordable luxury living, Iconic Developments (Pvt.) Ltd announced an agreement with Maga Engineering (Pvt.) Ltd, the country’s largest construction firm, to serve as its engineering partner for the upcoming Iconic Galaxy project.

Analysis of budget 2018 from an automotive perspective

Historically, the customs duty on motor vehicle imports has been calculated on the cost, insurance and freight (CIF) value of the vehicle. In customs terminology, the value for customs duty is assessed on the price ‘paid or payable’ by the importer.

HMD Global announces launch of Nokia 2

HMD Global, the home of Nokia phones this week announced the launch of the Nokia 2, with two-day battery life, the Nokia 2 is built to keep going long after other smartphones need recharging.

Five-day Epihack Sri Lanka event enters final day; new solutions developed

Epihack Colombo brought together 55 experts from 11 countries all over the world to take part in the international collaborative effort spanning five days facilitating an intensive environment to develop, integrate, and improve technological solutions in order to detect and reduce the impact of dengue fever in Colombo.

XOLO Smart Classroom at St. Sylvester’s College

In embracing technology for smart and intuitive education, St. Sylvester’s College Kandy launched the XOLO Smart Classroom platform, first of its kind in the Central Province and the largest deployment to date in Sri Lanka.

CAMMS wins gold at 19th annual NBQSA ceremony 2017

Global Enterprise Performance Management (EPM) software vendor, CAMMS won a Gold award for its Project Management solution, ‘cammsproject’, at the 19th annual National Best Quality ICT Awards (NBQSA) ceremony held in Colombo.

IFS celebrates 20 years of university collaboration

IFS, a global enterprise software company that has built sustainable partnerships with leading universities in Sri Lanka, recently celebrated 20 years of University collaboration at The Kingsbury Hotel in Colombo.

Budget 2018: Why and how is it different?

The budget for the year 2018 that was presented to parliament by Finance Minister Mangala Samaraweera was totally different from the others that we saw during the past few years. 

Budget 2018 lacks commitment to Central Bank’s inflation-targeting crusade

It would be a suicidal mission for the Central Bank to undertake inflation target-based monetary policy without strictly enforcing budget discipline by the government, as I cautioned in my article appeared in Daily Mirror of October 31, 2017. Although I 

Maritime cold war developing in Indian Ocean Region: Dr. Jayanath Colombage

Admiral Dr. Jayanath Colombage, Director Pathfinder Foundation said that the Indian Ocean Region is a region of “strategic competition, strategic alliances for some major powers against others and strategic dilemma for smaller and less powerful states for major powers”. 

Former Indian Finance Secretary to speak on India-Sri Lanka Economic relations

The Lakshman Kadirgamar Institute of International Relations and Strategic Studies (LKI) and the Institute of Policy Studies of Sri Lanka (IPS) will host a joint lecture by Dr. S. Narayan, former Finance Secretary of India, on ‘India-Sri Lanka Economic Relations in Modi’s India.’ 

EU launches programme to reduce poverty in Uva and Central Provinces

The European Union (EU) launched one of the largest programmes of development support in the country. 

TEA welcomes economic reforms in budget

In a media statement, the Tea Exporters Association (TEA) yesterday welcomed the government’s budget for 2018 especially the proposals for trade reforms presented to the parliament by Finance Minister Mangala Samaraweera last week. 

Packaging industry says taxation will have ripple effect and hit multiple sectors

In a media statement about the tax increase on packaging raw materials under the proposed budget, the Sri Lanka Laminated Flexible Packaging Manufacturers’ Association says that the tax increase will only have a negative impact on the public who are the end consumers of packaged product. 

Higher charcoal prices continue to plague Haycarb in second quarter

Haycarb PLC appears to be caught up in a prolonged supply chain issue as the company known for activated carbon making is now struggling to source continuous supply of charcoal and its attempt to pass on the increased cost to the buyers has had 

SL develops regulations on adventure tourism

Steps are being taken to promulgate regulations related to all adventure tourism activities in Sri Lanka. Ten advisory committees have been appointed for each field of the adventure tourism service to setup international standards.  As per the initiative

Whistle-blowing yet to move beyond ‘requirement’ status: legal expert

Despite ‘whistle-blowing’ being made a mandatory requirement for listed companies by its regulator, the Securities and Exchange Commission (SEC), the benefit of the mechanism is yet to be fully reaped by the local entities, as the employees remain 

Privilege cards galore from Pannipitiya Private Hospital

Pannipitiya Private Hospital, one of Sri Lanka’s top ranking private hospitals has decided to provide treatment with special discounts to clergy, teachers, Daham Paasal teachers and for those who engage in social charity initiates as a mark of honour and recognition to them.

Diabetics now covered with Sri Lanka Insurance

Diabetes is one of the main barriers for health insurance policies in Sri Lanka. However, all that will change with the launch of the Sri Lanka Insurance Comprehensive D+ policy on November 14 to coincide with World Diabetes Day.

Hemas hospital Thalawathugoda now offers day surgery packages

Spearheading a revolution in the health sector in Sri Lanka, Hemas Hospital Thalawathugoda has introduced a new affordable day surgery service for a wide range of procedures.

ComBank 3Q profit up on massive growth in new loans

Commercial Bank of Ceylon PLC (ComBank) reported solid performance for the July-September quarter (3Q17) as the lender expanded its loan book at exponential pace while improving both its asset quality and margins. 

CTC September net down over lower volumes

Ceylon Tobacco Company PLC (CTC), a unit of British American Tobacco, saw its September quarter (3Q17) performance affected by lower volumes due to higher prices of cigarettes following an excise duty increase in fourth quarter, last year.

Plantations help Richard Pieris stay afloat in 2Q

The diversified Richard Pieris and Company PLC (RICH) managed to maintain a 2 percent growth in its bottom line for the second quarter of the 2018 financial year (2Q18), compared to the corresponding period last year with a net profit of Rs.868.16 

Rupee ends weaker on dollar demand

REUTERS: The Sri Lankan rupee closed slightly weaker yesterday due to late importer demand for the U.S. currency as investors awaited clarity on budget policies announced last week, dealers said.  

Budget in line with IMF plan but fiscals still weak: Fitch

Fitch Ratings yesterday gave thumbs up for the Budget 2018, which is widely hailed as a futuristic policy document, but did not fail to add that the country’s fiscal front still remains extremely vulnerable due to high government debt and large cost of debt servicing.