Tourism slump, loss of power business trim Aitken Spence 4Q profits

Poor returns from tourism in Maldives and losses in energy business have trimmed Sri Lanka’s Aitken Spence PLC’s December quarter (3Q16) net profits by as much as 26.7 percent to Rs.637.5 million from a year ago, the 

Hemas Dec. net boosted by higher top line growth, finance income

Diversified Hemas Holdings PLC, which has interests i n FMCG, hea l t h c a r e , transportation and leisure saw its net profit for the December quarter (3Q16) soaring as much as 219.7 percent year-on-year (yoy) to Rs.858.66 million, 

In initial discussions on IMF loan: FinMin

Sri Lanka is in initial talks with the IMF about a loan, Finance Minister Ravi Karunanayake said, amid concerns over pressures on its balance of payments, outflows from government bonds and a ballooning fiscal deficit. Higher foreign 

Amaliya Foundation introduces new programme to help hearing impaired children

The Amaliya Foundation, an initiative of the Amalean Family which had produced a number of corporate sector leaders in the country had come up with a project to help the children with hearing impaired. 

Tourism industry requires 130, 000 newly trained personnel by 2020: study

Sri Lanka’s tourism industry will need around 130, 000 newly trained personnel by 2020 to serve the targeted 4 million tourists, a study has revealed. According to a study conducted by the National Human Resources Development Council (NHRDC)

HNB finances Hela’s acquisition of Foundation Garments

HNB’s corporate banking business on the back of a very successful 2015, announced the US $ 18 million financing of Hela’s strategic acquisition of Foundation Garments.

EU hits China with new steel anti-dumping probes: official

AFP - The EU launched new probes yesterday into imports of Chinese steel, warning it would not allow “unfair competition” to threaten Europe’s industry which is crumbling under a flood of cheap imports.

Lankan stocks end lower on global woes, rising rates

REUTERS: Sri Lankan shares edged down for the fifth straight session yesterday to close at a more than three-week low, in line with weaker regional peers, as investors stayed off risky assets on concerns over rising domestic interest rates. Asian shares

This Valentine’s, experience the perfect getaway

It’s that time of the year when you sweep your loved one off their feet with the perfect gift. With the Valentine’s Day around the corner, give them the best gift yet by taking flight to a romantic destination with Mihin Lanka. 

Farmers protest

Farmers throw objects near the Agriculture ministry in Athens during a demonstration against the pension reform yesterday. Fears that Greece will exit the eurozone, a “Grexit”, could revive if Greek authorities do not come up with “credible” reforms, notably on pensions, a senior IMF official had said. AFP

Critical care platforms showcased at Anesthesiologists Congress

The 32nd Annual Academic Congress of the College of Anesthesiologists and Intensivists was held recently in Colombo focusing on improving outcome through safety and knowledge. Recognised as the county’s foremost surgical and medical technology company, Ceyoka (Pvt.) Ltd served as a platinum sponsor at this year’s annual conference.

Tokyo Cement Super Quiz Season 3 finalists from Kalutara

The Tokyo Cement Super Quiz has enabled students to rediscover their thirst for knowledge, whether it is by going to the library and learning new things, or even going online, which has also prompted our success, according to Lakshitha Nanayakkara,

Sri Lanka-Bahrain trade talks to renew bilateral cooperation

Minister of Industry and Commerce Rishard Bathuideen’s visit to Bahrain concluded, deepening and elevating the economic, commercial and investment relations between both countries. 

ComBank wins IBSL Inter-Bank Quiz for second successive year

Commercial Bank of Ceylon has reaffirmed its commitment to the professional development of its staff by winning the 2015 Inter-Bank Quiz conducted by 

Colombo Paradise Round Table 5 inducts celebrity chef as honorary member

The godfather of modern cooking, three Michelin star celebrity chef and judge of MasterChef Australia, Marco Pierre White was hosted by Cinnamon Hotels and Resorts in collaboration with the British High Commission recently. 

Oil prices rally after plumbing new depths

AFP- Oil surged more than five percent in Asia yesterday, a day after tanking towards 13-year lows and following a report suggesting the OPEC producers’ club was open to working towards cutting output to stabilise volatile crude markets.

Colombo port achieves historic growth in daily TUEs handling volume

The Port of Colombo has recorded its first ever highest daily container handling volume to 22, 422 TUEs on February 9, Sri Lanka Ports Authority(SLPA) revealed. However the previous highest volume 22,186 containers was reported by SLPA on 28 of April 2015.

Sri Lanka Tourism gears up to celebrate 50 years

Sri Lanka Tourism will be celebrating its Golden Jubilee on the 2nd of May this year.  To highlight this milestone Sri Lanka Tourism launched a special logo at the Tourism Ministry yesterday. The attractive logo which depicts 

Celebrate the Day of Love with Abans

Calling all love birds!! We, at Abans, will be hosting our famous annual St Valentine’s Day celebrations on February 14 at Abans head office, Third Floor training room at 6:00 p.m. We have been honouring the ‘Day of Love’ 

Uber agrees to $28.5 mn settlement over safety claims

AFP - Uber said Thursday it has agreed to pay $28.5 million to settle a pair of lawsuits challenging its promises on driver safety checks.

Rolls-Royce cuts dividend for first time in 25 years

AFP - British engine maker Rolls-Royce yesterday cut its shareholder dividend for the first time in almost 25 years and said 2016 would be “challenging”, but its shares nevertheless soared.

US regulator says Google car could be its own driver

AFP - The US agency in charge of highway safety thinks that the autonomous car built by Google-parent Alphabet could qualify as being its own driver.

CIC, NRC and ITI partnership to support Department of Agriculture’s Island-wide fruit fly control

CIC Holdings PLC (CIC), a leadingblue chip company in Sri Lanka, recentlyjoined hands with the National Research Council and the IndustrialTechnology Institute

‘7 Star’ – First to introduce fortified flour to Sri Lankan market

Serendib Flour Mills (SFML) recently introduced fortified wheat flour to the Sri Lankan market for the first time, as part of the company’s long-term commitment to nourishing the nation.   

IT sector salaries at entry level up on average: survey

Salaries of Sri Lanka’s IT and Business Process Management (BOM) sectors at the entry level have seen an uptick, a survey by an international professionals’ services company said.  

Marching against ETCA with India

A number of professional bodies in the country yesterday organized a protest march in Colombo against the proposed Economic...

BIA-bound flights land in Mattala

Three Bandaranaike International Airport (BIA) bound flights were diverted to Mattala yesterday due to heavy mist in the morning.

Sunshine Holdings to double pharmacy outlets by 2018

Diversified conglomerate Sunshine Holdings PLC will be expanding its healthcare footprint by doubling the number of pharmacies in existence by 2018.

CSE issues RFI for setting up Central Counter Party

Marking a significant step in its bid to establish a Central Counter Party (CCP), the Colombo Stock Exchange (CSE) issued a Request for Information (RFI)

Sri Lanka will achieve 2020 tourist arrival target despite snags: THASL President

Sri Lanka will be able to achieve its 4.5 million tourist arrival target by 2020 despite recent trends of declining growth, an industry leader said.