Colombo Dockyard banks on ship repairs, heavy engineering to return to profitability

Colombo Dockyard PLC (DOCK), which has been navigating through rough seas in recent years, is hoping to return to calmer waters in the next financial year, backed by ship repairs and heavy engineering projects.

Tea veteran stresses need for disciplining export sector

Tea veteran and Dilmah Tea founder Merrill J. Fernando yesterday reiterated that the Sri Lanka’s tea export sector is in need of disciplining and stringent quality checks.

China Merchant to reveal plans for H’tota port

The China Merchant Port Holdings will declare its plans for the Hambantota port at the Ceylon Chamber of Commerce organized seminar titled ‘South Asia’s Emerging Gateway City.

PUCSL invites public views on electric vehicle charging station rules

The Public Utilities Commission of Sri Lanka is now engaging with the public to create regulations for electricity vehicle charging stations (EVCS) and consumer rights for EVCS users.

Sri Lanka plans 16% increase in borrowing in 2018

REUTERS: Sri Lanka plans to increase its overall government borrowing by 16 percent in 2018 to Rs.1.8 trillion (US $12 billion), a document showed this week.

Brandix named Sri Lanka’s Exporter of the Year for 5th successive year

The Brandix Group has topped Sri Lanka’s ranking of exporters for the fifth consecutive year in 2016 to be declared the country’s Exporter of the Year by the Export Development Board (EDB) at a ceremony presided over by President Maithripala Sirisena yesterday.

Teejay honoured at CNCI Achiever Awards 2017

Teejay Lanka PLC, the region’s largest multinational textile manufacturer, was honoured at the recently concluded CNCI Achiever Awards 2017, organised by the Ceylon National Chamber of Industries. 

Korea-Sri Lanka agro tourism project seeks Cabinet nod

Pastem-Gala Sugar and Power Gen 2 Project, a joint venture between Sri Lankan, Korean and US parties, is seeking Cabinet approval to set up a US$ 350 million agro-tourism and waste-to-power public-private partnership project in the country’s poorest region, Uva Province.

Libertarian think tank launches project to monitor tariffs on food

Libertarian think tank Advocata Institute is launching a project to monitor import tariffs on food, with weekly updated figures available on the institute’s website as a ‘Food Tax Tracker.’

Ready to savour Annasi & Kadalagotu this year?

Last year we saw a giraya yielding Lucy Hami glowering at Sherlock Holmes as Nasrudin looked on, while Thenali, Tom and Jinna worked together to get the ‘Water Horse’ back in motion

FACETS – Bringing Sri Lanka’s Gem & Jewelry Industry Into the 21st Century

A tiny island in the middle of the Indian Ocean was once a prominent feature in the tales of explorers, scholars and merchants who spread the fame of the troves of precious gems hidden in its earth.

Coca-Cola's Lion Soda team triumphs as Champions at the annual Coca-Cola Sports Day

The employees of Coca-Cola Beverages Sri Lanka Ltd. recently celebrated their Annual Sports Day at the CH & FC grounds. The day of athleticism and sportsmanship was championed by the houses

Keells Super customers donate Rs. 2.5 million towards ‘Little Hearts’Project

Keells Super announced the completion of a fundraising campaign for the Little Hearts Project, with the donation of Rs. 2.5 milliontowards the treatment of children diagnosedwith Congenital Heart 

PLC Now Internationally Carbon Neutral Certified!

People’s Leasing & Finance PLC (PLC), Sri Lanka’s market leader in leasing and a subsidiary of People’s Bank, wasrecently awarded the internationally accredited CarbonNeutral®  certification

Hayleys to acquire Singer Sri Lanka for Rs.12.5bn

Diversified conglomerate Hayleys PLC, continuing with its buying spree, yesterday struck a mega deal to acquire a 71 percent stake in leading consumer durables retailer Singer (Sri Lanka) PLC (SSL) in a whopping Rs.12.5 billion deal.

Third Space Global employs online tutors from Sri Lanka to teach UK students

Third Space Global, a UK owned BOI approved company, opened its new regional headquarters at Orion City, Colombo 9 on 13 September 2017. The company has grown to over 200 staff since

Cartier’s First Exceptional Watches Event in Sri Lanka

Cartier hosted an extraordinary evening in collaboration with the Maison’s partner, Chatham Luxury. An exclusive watches selection were presented for the first time in Sri Lanka to showcase stunning 

Dialog sets eyes on becoming major force in finance sector

Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, on Tuesday showed clear intentions of becoming a major player in the country’s finance space with the acquisition of a listed finance company, as the dividing line between technology and finance gets blurred by the day.

Shell International bags another LPG supply contract for Litro Gas

The cabinet of ministers has decided to purchase 300,000 metric tonnes (MT) of pressurized liquid petroleum gas (LPG) for the state-run Litro Gas from Shell International Eastern Trading Company. Shell International was also the winner of the previous year’s contract for supply of LPG to Litro.

Savings interest taxed higher under new tax law, so are foreign currency deposits

The interest on savings made by Sri Lankans have been made liable for a higher withholding tax by the new Inland Revenue Act, which was passed in parliament last week, a business forum in Colombo was told yesterday.

Fairway acquires 75% of Ascot subsidiary with rights to build 30-room hotel in Yala

The diversified business group, Fairway Holdings, yesterday said it would be purchasing 75 percent of Ascot Leisure (Pvt.) Ltd for a total of Rs.70 million.

Sri Lanka’s Google Loon dream still alive, says Harin

The Google Loon dream of the current government is still alive, with Telecommunication and Digital Infrastructure Minister Harin Fernando set to make a renewed effort at negotiations with the International Telecommunication Union (ITU) for the rights to use the frequency band required for the project.

SL to research using graphite in rechargeable batteries

The government has decided to carry out a research project to examine the possibility of adding value to the graphite mined in Sri Lanka by way of using such in rechargeable batteries. 

UNWTO recognizes Sri Lanka’s rise as global tourism destination

Sri Lanka’s rise as a global tourism destination was recognized at the 22nd Annual General Assembly of the United Nations World Tourism Organization that is  currently underway.

Australia’s Margosa begins airborne survey of graphite deposits in Sri Lanka

Australia-based Margosa Graphite Ltd (Margosa), together with Lanka Resources and Mining (Pvt.) Ltd (LRM) announced that it would commence an extensive high-resolution helicopter-borne time-domain electromagnetic survey (HTDEM) to accelerate its exploration search for new graphite deposits in Sri Lanka. 

Buildcon 2017 and Sri Lanka Wood 2017 held in Colombo

Showcraft International (Pvt.) Ltd in collaboration with Futurex Trade Fair and Events (Pvt.) Ltd, leaders in organizing trade fairs, promotions, organized the sixth Sri Lanka Buildcon International Expo and fifth Sri Lanka Wood International Expo 2017 from 8th - 10th September, at BMICH, Colombo.

Emirates celebrates 100th A380 purchase with special fares from Colombo

Almost a month to the day it operated the first ever commercial A380 flight to Sri Lanka, Emirates is offering travellers from Colombo a chance to celebrate the forthcoming delivery of its 100th A380 with special fares to destinations across the airline’s global network.

CMA to conduct seminar on new Inland Revenue Act

The Institute of Certified Management Accountants of Sri Lanka (CMA) will conduct a seminar on the new Inland Revenue Act on Wednesday, September 20, 2017, from 8:30 a.m. to 12:30 p.m., at Cinnamon Lakeside, Kings Court.

Impact of online travel operators on SME accommodation providers in Sigiriya, Habarana, Dambulla

With the tourism boom in the recent post-war period of Sri Lanka, there has been a considerable growth in the small and medium enterprise (SME) segment of accommodation providers. This growth has been possible primarily due the strong presence of online travel operators (OTAs) through whom these SMEs market their units. This paper endeavours to present the impact the global OTAs have on the SME segment in a select area and its overall impact for

Seylan Bank introduces ‘Seylan income Saver’ for corporates and employees

Reiterating its commitment in adding value to the citizens of Sri Lanka, Seylan Bank introduced the ‘Seylan Income Saver’, a novel proposition devised for corporates and employees to offer a wide array of benefits for savings account holders and their fixed incomes.