HNB posts subdued 3Q earnings amid challenging conditions

Stocks, rupee gain ahead of presidential polls

Sri Lankan shares ended firmer on Wednesday at near one-week highs, as investors picked up beverage and diversified shares ahead of Saturday’s presidential vote.

Kantar Lanka says made no election predictions

Kantar Lanka (Pvt.) Ltd yesterday said contrary to some social media posts, it has not made any prediction on the upcoming presidential election.

Tea factory owners to get relief package

Cabinet approval has been secured to grant one-year moratorium on loans taken by the country’s crisis-hit tea factory owners and to allocate Rs.500 million to facilitate working capital loans at concessionary rates.

SLTDA inks MoU with Palladium Group to beef up research capabilities

Sri Lanka Tourism Development Authority (SLTDA) has entered into an Memorandum of Understanding (MoU) with Palladium Group SL (Pvt.) Ltd to bolster its research capabilities.

Ban on tobacco cultivation: A blessing in disguise for Sri Lankan farmers

While the topic of tobacco control is mentioned in some of the main presidential candidates’ manifestos, it is uncertain whether they will honour the commitment made in 2017 to ban tobacco cultivation by the end of 2020.

President frowns on promise to give free fertilizer

Some days ago, at some gathering in Matale, President Maithripala Sirisena has raised concerns to assertions of Sajith Premadasa and Gotabaya Rajapaksa promising free fertilizers to farmers.

Putting the power of analytics in the hands of finance

Nobody comes to work jazzed about chasing after data. They simply want answers to their questions.

China’s Hainan Group to invest US$ 300mn to set up two rubber trade zones

China’s Hainan Rubber Industry Group Co. Ltd has reached an agreement with the Plantation Industries Ministry to invest US$ 300 million to set up specialised free trade zones for rubber-based value-added exports in Kegalle and Kalutara districts next year.

AG advises Central Bank not to make bond audits public

The Central Bank yesterday said the forensic audits on bond issues and primary and secondary transaction of Employees’ Provident Fund up to 2017 would not be made public on the advice of the Attorney General, as such would be treated as evidence in future legal actions.

UNCTAD recognises BOI for excellence in promoting sustainable investment

The United Nations Conference on Trade and Development (UNCTAD) has recognised Sri Lanka’s Board of Investment (BOI) for its excellence in promoting sustainable investment in special economic zones.

Sunshine Holdings opens 2.4MW hydropower plant

Sunshine Energy (Pvt) Ltd. (SEL), a fully-owned subsidiary of Sri Lanka’s diversified conglomerate Sunshine Holdings PLC, opened its third hydropower plant in recently in Lindula in the Nuwara Eliya district.

CTC says cigarette sales down 11% in 3Q

The sales at Sri Lanka’s monopoly cigarette player, Ceylon Tobacco Company PLC (CTC) fell during the September quarter (3Q19) due to Excise-led price increases and Easter Sunday bombings in April, which slowed consumer spending and tourist arrivals to the country.

Higher costs hinder Nestlé Lanka 3Q

Nestlé Lanka PLC saw its earnings falling 4.3 percent year-on-year (YoY) to Rs.900.4 million for the quarter ended September 30, 2019 (3Q19) as the local unit of the world’s largest food company saw its top line getting impacted by higher cost of sales.

SL’s slide in Global Entrepreneurship Index – A challenge for next political regime

As Sri Lanka heads to elect a government led by a new president, the main political parties have come up with economic agendas to outdo each other, in addition to promising to do a better job than the current political regime. Developing entrepreneurship is embedded in these agendas in various forms.

International travel and migration in Fourth Industrial Revolution

The Fourth Industrial Revolution (4IR) is changing today’s world. Globally, 64 percent of all migrant travellers have migrated for employment. However, traditional models of employment are increasingly replaced by new developments associated with the 4IR technologies. This height of technological advancements in some aspects is creating inadvertent challenges.

Thoughts on upcoming presidential election

The race has begun. Both contenders are running neck-and-neck. If there is a photo finish, it might complicate matters. Whoever wins, would face an arduous task of managing the national debt.

Asian markets mostly down as traders ease into weekend

(Hong Kong) AFP: Asian and European markets fell yesterday at the end of a healthy week, with uncertainty surrounding the China-US trade talks following China’s announcement of a plan with Washington to roll back tariffs.

Asian equities see biggest foreign inflow in 6 months in October

REUTERS: Foreign investors stepped up buying in Asian equities in October as risk sentiment improved on signs that China and the United States were closer to an interim trade deal, soothing concerns about a slowdown in the region.

Oil slides as uncertainty returns about U.S.-China trade deal

(London) REUTERS: Oil prices fell yesterday, weighed down by lingering uncertainty about how close the United States and China were to a trade deal and on rising U.S. crude inventories.

Stocks, rupee gain; polls awaited

(Colombo) REUTERS: Sri Lankan shares edged higher yesterday, snapping a four-day losing streak, as investors picked up banking and beverage shares ahead of the presidential vote on November 16.

Moody’s Investors cuts India’s outlook to ‘negative’, citing rising growth risks

(Bengaluru) REUTERS: Moody’s Investors Service cut India’s ratings outlook to “negative” from “stable”, citing increasing risks that Asia’s third largest economy will grow at a slower pace than in the past, sending stock markets nearly 1 percent lower at yesterday’s close.

Shangri-La Group opens One Galle Face

Seven years after it broke ground, the much-anticipated One Galle Face (OGF) integrated project was officially opened yesterday by President Maithripala Sirisena and Shangri-La Group CEO Lim Beng Chee.

Colombo Port City has potential to become most advanced smart city in Asia: Hans

The Colombo Port City project has the potential to become the most advanced smart city in Asia by attracting tech giants while providing the catalysts for inclusive advancements in digital space across various sectors of the economy, promoting inclusive capitalism.

Singer Fashion Academy paves way for aspiring fashion entrepreneurs

Everyone likes to hear a good success story, especially one that involves an individual going through a learning curve in life that eventually ends up changing their life for the better within a short period of time and opening up a world of opportunity and prospects for them.

Arpico launches exquisite range of luxury Christmas hampers

Arpico, the premier retail chain in Sri Lanka, is all set to unveil its exclusive list of hampers for the coming Christmas season as the first phase of its supreme Christmas shopping experience for 2019.

LEARN turns 30: The evolution of Sri Lanka’s 1st wide area network

LEARN, Sri Lanka’s national research and education network marked three decades of innovation in connectivity, heralding a new era of connectivity whilst supporting the needs of the research and education community through a high-speed backbone network.

Ceylinco Life’s Toastmasters Club enters sixth year

Ceylinco Life hosted the sixth installation ceremony of its Toastmasters Club recently, at which a new executive committee was appointed and new members were welcomed.

Lanka IOC, Abans Auto launches seasonal bonanza offer ‘Fuel up and Win’

In a major strategic joint promotional initiative, Lanka IOC in association with the Abans Group kick-started a mega campaign throughout Colombo and Gampaha, beginning November 5, 2019.

Sri Lanka’s Santani Resorts & Spa wins big at WTM London

Sri Lanka’s Santani Resorts & Spa has won the Gold Award under ‘Best in Wellness’ category at the International Travel & Tourism Awards (ITTA) 2019 presented by World Travel Market (WTM) London.