Biggest ever trade deal signed as US seeks to counter China

The biggest trade deal in history was signed yesterday, yoking 12 Pacific rim countries in a US-led initiative aimed at wresting influence from booming China.

Credit Suisse books $2.9 bn loss in 2015

AFP - Credit Suisse posted yesterday a net loss of 2.9 billion francs ($2.9 billion, 2.6 billion euros) for 2015 as it wrote down the value of its assets and booked charges as Switzerland’s number two bank seeks to overhaul its business.

Asia markets rally, oil extends gains as dollar eases

AFP - Oil extended the previous day’s rally and Asian stocks surged yesterday while the dollar held most of its losses as the turmoil on global markets lowers expectations the US will hike interest rates again this year.

Oman Air Conference looks forward to exciting 2016

A positive future and continued expansion will be the focus for Oman Air, as the airline starts the year with their major global conference in Muscat, under the theme “

Kuwait Airways introduces mega sales offer

Kuwait Airways, the national carrier of the State of Kuwait introduces special fares to the passengers with exclusive discounts. 

Mihin Lanka continues to provide affordable travel solutions to region

Mihin Lanka, Sri Lanka’s national low-cost carrier, offers travellers affordable and convenient flight options, to an array of key destinations across the Asian,

Emirates Group releases 5th Annual Environmental Report

The Emirates Group, comprising Emirates airline and dnata, has released its fifth annual environmental report for 2014-15.

Turkish Airlines and Boeing sign long-term collaboration agreement

Turkish Airlines and Boeing, building on their 70-year relationship, have signed a collaboration agreement that will strengthen Turkish Airlines’ long-term industry leadership, as well as Turkey’s aerospace and technology capabilities. 

Textured Jersey 3Q net up 79% over operating efficiencies & subsidiary performance

Textured Jersey Lanka PLC (TJL), a unit of leading apparel exporter Brandix Lanka Limited, increased its net profit by as much as 79 percent year-on-year (yoy) to Rs. 672.1 million for the quarter ended December 31, 2015 (3Q15), the interim results showed. 

Will Yahapalana’s plan to develop the country end up as a pipe dream?

Will Yahapalana’s plan to develop the country as announced recently - “Our objective is to make Sri Lanka the most competitive nation in the Indian Ocean and to develop the island as a MEGA CITY for the region that will go between Singapore and Dubai

Sri Lanka-Thailand Business Council delegation visits Thailand

An 18-member delegation from Sri Lanka visited Thailand from February 1 to 3, 2016 for business matching and business-to-business (B2B) meetings. 

Dinesh presents ‘November Revolution’ to Chandrika

Dinesh Weerakkody presenting a copy of his book ‘The November Revolution’ to former President Chandrika Bandaranaike Kumaratunga, a key architect of The November Revolution

Omani Chamber delegation visits National Chamber

A delegation from the Omani Chamber of  Commerce and Industry headed by Chairman Said Saleh Said Al Kiyumi met National Chamber President Thilak Godamanna and the officials of the chamber recently and had  cordial discussions on establishing trade links with Oman. 

New CA Sri Lanka President unveils four-point plan to retain accounting profession at helm

New Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) President Lasantha Wickremasinghe recently unveiled a four-point plan for the next two years, which, according to him, will help the institute and the accounting profession remain at the helm. 

Eighth int’l Footwear & Leather show opens today

Footwear and Leather Fair 2016, the eighth in its successful series, opens today at BMICH. The Footwear and Leather Fair series is a joint effort of the Development Strategies and International Trade Ministry

Techzone launches ultra curved & HD Dell monitor in Sri Lanka

The new 27’’ and 34’’ Dell Ultra-Sharp monitors are now available in Sri Lanka, at Techzone, which is also the authorized business partner for Dell, and the one- stop shop for all your IT related hardware and accessories...

Yahoo laying off 15% of workforce, says it’s exploring sale options

REUTERS: Yahoo said it will cut 15 percent of its workforce, or upwards of 1,700 jobs, and the flagging Internet company officially put itself on the block by announcing that it is exploring “strategic alternatives.”

Pickme launches Vintage taxis for Independence Day

PickMe, the mobile taxi hailing service provider conducted a unique promotion on Independence Day when they partnered the Vintage Car Owners Club Sri Lanka to give the exceptional experience of riding in vehicles of yesteryear. 

President awards Singer X Series laptops to G.C.E. A/L performers

Singer Sri Lanka PLC, presented their latest Singer XSeries laptops to the 21 students who excelled at the 2015 G.C.E. A/L examinations. 

CB says LTV cap on vehicle loans has served its purpose

The loan-to-value (LTV) cap set on vehicle imports may be removed soon as its intended aim has been fulfilled, Central Bank Governor Arjuna Mahendran said.

Dipped Products Dec. quarter in red as margins compress

Hayleys group rubber glove manufacturing unit, Dipped Products PLC (DIPD) reported a net loss of Rs.78.9 million for the quarter ended December 31, 2015 from a net profit of Rs.326.2 million due to contraction in top line, the interim results showed.  

ECCSL maritime forum to be held this month

The European Chamber of Commerce of Sri Lanka has decided to host the “ECCSL Maritime Forum 2016” in collaboration with the Shipper’s Academy Colombo, to provide In-depth insights into new IMO container weight verification regulations.

Fate of US $ 150mn wind and solar power plant in Jaffna hangs in balance

The Ceylon Electricity Board (CEB) appears to be dragging its feet to delay or discontinue the progress of a 35-megawatt (MW) US$ 150 million wind and solar hybrid power plant in Jaffna by a Malaysian investor.  

Patent case jury orders Apple to pay more than $625 mn

AFP - A Texas jury on Wednesday said that Apple should pay $625.6 million for violating patents held by a US company devoted to patent litigation.

Celebrating Independence

Sri Lankan military personnel march during the country’s 68th Independence Day celebrations in Colombo yesterday. 

NDB opens Thirunelveli and Chavakachcheri branches

National Development Bank (NDB) further extended its footprint in the Northern region of the country with the opening of its 97th branch in Thirunelveli and 98th branch in Chavakachcheri recently.

UA attends MDRT Experience & Global Conference in Hong Kong

Union Assurance (UA) is home to innovators that set the benchmarks for the life insurance industry in Sri Lanka. 

NTB’s ‘Inner Circle’ relaunched to open doors to a wider customer base

Nations Trust Bank (NTB) recently relaunched the ‘Inner Circle’ product with significant benefits that will be accessible to a wider customer base. 

CDS moves into paperless digital settlements with LankaPay

Central Depository System (CDS), a fully-owned subsidiary of the Colombo Stock Exchange (CSE), recently partnered with LankaPay

Food security: Asia’s critical balancing act

Asia’s food systems are under an unprecedented confluence of pressures. Balancing future food demand and supply in ways that protect the most vulnerable, while also being sustainable, must be a first order policy priority.