Warren Buffett becomes top shareholder in Bank of America

AFP: American billionaire Warren Buffett’s Berkshire Hathaway group has officially become the top shareholder in Bank of America after exercising its right to buy 700 million shares at a discount.

Unilever and Arpico encourage shoppers to go green

Unilever Sri Lanka and Richard Pieris Distributors Ltd., together carried out the ‘Don’t Be Silly Silly’ awareness drive to encourage shoppers to go green by switching to the reusable Arpico-Unilever co-branded blue Eco-bags at Arpico Supercentre outlets around the island.

Sri Lanka – Singapore Business Council holds 20th AGM

The 20th Annual General Meeting of the Sri Lanka – Singapore Business Council (SLSBC) of the Ceylon Chamber of Commerce was held recently at the Ceylon Chamber of Commerce. 

Foreign investments by Lankan firms decline in 1Q

The momentum of Sri Lankan firms investing in foreign countries appears to have faltered this year and more domestic investments are likely to realize in the future, according to the  Central Bank.

AMW’s Asiff Shah-Jehan accorded marketing award by CMO Asia

The 8th CMO Asia Awards for excellence in Branding and Marketing is a premium forum bringing elite marketers, brand custodians, advertising and creative honchos together under one roof.  

Nation must focus on accomplishing something worthwhile

The government has been in office for two years and its agenda to many people still seems to be disconnected from the hopes and expectations of those who elected it to office on the promise of good governance. However, the government needs to be commended for its positive initiatives and its willingness to listen to constructive criticism of some of the current policies and actions. 

Asian markets rebound after North Korea-fuelled losses

AFP: Asian traders returned to buying Wednesday, reversing the previous day’s losses as Donald Trump’s measured response to North Korea’s missile launch and upbeat US data restored a semblance of calm to markets.

Uber hires Dara Khosrowshahi as chief

AFP: Uber hired Expedia boss Dara Khosrowshahi as its new chief executive late Tuesday, in the hopes he can steer the ride-sharing service away from the string of controversies it has faced in the past year.

FACETS 2017 begins today

The much awaited, FACETS International Gem and Jewelry Exhibition begins today (31st) at the BMICH with an official ceremony, which will be attended by the Prime Minister Ranil Wickremasinghe. 

Hemas Piyawara Singithi Diriya prison project to enrich and empower children

The Hemas Outreach Foundation (HOF), in collaboration with the Ministry of Women and Child Affairs of Sri Lanka and the Welikada Prison Authorities, launched ‘Piyawara Singithi Diriya’. 

Finco recognized at E-Guardian partner conference

Shashika Edirisinghe - Head of Enterprise Solutions, Finco Technologies (Pvt) Ltd receiving the award as the best emerging partner 2016 from Suresh de Silva , Chief Operating officer, E-Guardian Lanka (Pvt) Ltd and   Bhardwrj Naik  Director Sales - India & SAARC Arista Networks

Shares fall for 2nd day; bank stocks, beverages down

REUTERS: Sri Lankan shares fell for a second session yesterday, ending near a more than four-month closing low hit last week, as investors sold shares of banks and beverages companies. The Colombo stock index fell 0.13 percent to 6,390.26.

Wendesiya enhances online entertainment landscape in SL through unique auctions

Wendesiya– the best reverse bidding online portal to hit the Sri Lankan market has turned a new page in online entertainment by offering unbeatable prizes for its winners.

Mobitel’s Cash Bonanza Montero Extravaganza announces July winner

Mobitel’s Cash Bonanza Montero Extravaganza programme announced P. D. P. Chathuranga Pitawala from Borupana, Rathmalana as the lucky winner of the Cash Bonanza Montero Extravaganza for the month of July 2017. 

Combank World Mastercard holders to enjoy LoungeKey facilities

The key to more than 800 airport lounges around the world is now with holders of World Mastercard credit cards issued by the Commercial Bank of Ceylon, following the launch of LoungeKey in Sri Lanka by Mastercard from 1st September 2017.

Dilmah in consolidation drive; acquires parent’s exports business

Dilmah Ceylon Tea Company PLC (Dilmah) will be issuing new shares to its parent company MJF Teas (Private) Limited (MJFT) to acquire all value-added tea export operations of the MJF group for Rs.442.5 million.

Empire kitchen brings Biriyani to your fingertips

Empire kitchen, a novelty in the food catering sector in Sri Lanka is set to launch a simple web application in lieu of the upcoming Hajj festival. 

Cabinet nod for Rs.150 per kilo pepper subsidy

The cabinet yesterday approved to provide a Rs.150 per kilogramme subsidy for pepper growers until the pepper prices reach the levels seen early this year.

Lankan exporters should link up with lead firms to meet ‘private standards’, says trade expert

Dr. Harsha Vardhan Singh – former Director at the World Trade Organisation and currently the head of Brookings India – was a speaker at the recently concluded Sri Lanka Economic Summit, in a session on ‘Executing a Smarter Trade Strategy Amidst Turbulence’.

Rupee ends weaker on importer dollar demand

REUTERS: The Sri Lankan rupee closed slightly weaker yesterday as importer dollar demand from foreign banks surpassed the exporter greenback sales, dealers said.

SL should brace for higher interest rates as domestic borrowings set to peak

Despite the government securities yields pointing to a lowering trend, Sri Lanka is most likely to face higher interest rates during most part of 2018 as the Central Bank will have to borrow excessively from the banking sector to settle domestic borrowings. 

July 2017 Winner for Season 2 of Mobitel’s Cash Bonanza Montero Extravaganza drives away with a bran

The National Mobile Service Provider, Mobitel’s Cash Bonanza Montero Extravaganza programme reached fever pitch in July 2017, witnessing growing participation of customers as a result of the

Ninewells Fertility Center achieves 60% success rate in fertility treatment

Ninewells Hospital, Sri Lanka’s leading private hospital specializing in Women and Child Care, achieved a remarkable milestone recently in their success story in fertility services. 

Balasooriya Private Hospital receives Gold and Silver at CNCI Achievers Awards

Balasooriya Private Hospital received the Gold award in large category – service sector (provincial level) and the Silver award in large category – service sector (national level) at the CNCI Achiever Awards 2017 organized by the Ceylon National Chamber of Industries (CNCI). 

Apeksha IVF wins Merit Award at CNCI Achiever Awards 2017

Apeksha IVF and Research Centre, Ratmalana, was recently recognized with a National Level service sector Merit Award at the CNCI Achiever Awards 2017 for Industrial Excellence.

WISH launches latest advancements in Siemens hearing care

Pioneering hearing care specialists in Sri Lanka, the Wickramarachchi Institute for Speech and Hearing (WISH) recently conducted a special training session for audiologists at the WISH Auditorium in Delkanda, Nugegoda. 

AstraZeneca strikes US $400mn Parkinson’s drug deal with Takeda

REUTERS: AstraZeneca is to receive up to US $400 million from TakedaPharmaceutical after striking a deal for the Japanese company to co-develop an early-stage medicine for Parkinson’s disease. The drug, MEDI1341, is an antibody treatment discovered by the British company that is due to enter Phase I clinical trials later this year.

Brazil trade delegation participates in CRT Trade Fair

A high-powered trade delegation from the Federative Republic of Brazil, one of the BRICS nations, visited Sri Lanka recently to participate in the CRT Trade Fair organised by the Plantation Industries Ministry, which was held at the BMICH, Colombo. 

Tobacco cultivation has no adverse impacts on soil fertility: study

A joint study by the University of Peradeniya Soil Science Department and Agriculture Faculty has refuted claims that tobacco causes soil fertility degradation. 

Problems lead to opportunities: 150 years of Ceylon Tea

Sri Lankans are gifted with two psychological traits by birth and they are being emotional and also being jealous. At a time we celebrate 150 years of tea in Sri Lanka, it will be a worthwhile effort to view as to how these two traits have affected the industry, the employees and the decision makers alike.