Govt. to develop ECT jointly with Japan and India

The government is gearing to fast-track the development of East Container Terminal (ECT) at the Port of Colombo jointly with Japan and India with the setting up of a terminal operating company (TOC), ensuring that the full ownership of ECT will remain with Sri Lanka.

CB Governor says seeing strong case for relaxing monetary policy

Central Bank Governor Dr. Indrajit Coomaraswamy has hinted a strong possibility of a policy rate cut at the next monetary policy review, as he sees “a strong case for relaxing monetary policy.”

Sri Lanka likely to miss growth targets after Easter bombings

REUTERS: Sri Lanka is unlikely to hit its full-year economic growth target of 3-4 percent following the Easter Sunday bombings, junior finance minister Eran Wickremeratne told Reuters yesterday.

Higher borrowings weigh on Hayleys March performance

Hayleys PLC saw the gains made at the top line getting pared as the conglomerate’s massive debt load continued to weigh on any progress made by its diverse business interests during the March quarter (4Q19), the interim financial accounts showed. Hayleys recorded revenues of Rs.56.5 billion for the three months ended March 31, 2019, up 11 percent year-on-year (YoY).

National inflation hits 3.6% in April

Prices countrywide measured by National Consumer Price Index (NCPI) rose 3.6 percent in the 12 months to April, accelerating from 2.9 percent in March, due to price increases of both food and non-food categories, the Central Bank said.

Private schools select Headstart to drive digital learning

Two leading Colombo schools have implemented a digital learning system in collaboration with Headstart (Pvt.) Ltd in order to supplement students’ classroom education, as well as to be able to keep students engaged in learning during times when schools are closed.

Ensuring protection and safety tips for online shoppers

Over the past five years, online shopping has become an increasingly popular option for Sri Lankan consumers.

Update WhatsApp now! One call could give spies access to your phone

On May 13, 2019, Facebook revealed that an ‘advanced cyber actor’ has been spying on some users of its ridiculously popular WhatsApp messaging app, thanks to zero-day vulnerability that allowed hackers to install spyware, silently, just by calling a victim’s phone.

NSDI programme to empower citizens through geospatial data

Spatial data sets are collected by number of government organisations to support their business processes in Sri Lanka.

Aventude partners Infront Asia Pacific to enable end to cloud solutions

Aventude, the latest Sri Lankan-based digital transformation services company recently announced that it is entering into a strategic partnership with Infront Asia Pacific, an award winning pioneer regional specialist in cloud and data centre consulting in the APAC region for the past 10 years.

Market promotion need of the hour for apparel industry: SLAEA Chair

Sri Lanka’s apparel industry led by the Joint Apparel Association Forum Sri Lanka (JAAF) recently rolled out an image-building media campaign aiming to transform the negative stereotypes on the female employees in the apparel industry, with a view to give the due recognition to female labour. In an interview with Mirror Business, Sri Lanka Apparel Exporters Association (SLAEA) Chairman Rehan Lakhani, on behalf of the country’s apparel industry,

Foraging through fresh frontiers of pharmaceutical innovation

For centuries, human beings have waged a relentlessbattle againsta litany of diseases that have ravaged countless generations.

What comes next in US–China trade war?

The escalation of tit-for-tat tariffs between the United States and China is now in the danger zone. Surely, reason will ultimately prevail. At least that is the common refrain in the echo chamber, especially in light of the dark history of earlier trade wars.

Growing global support for SL’s tourism revival

Sri Lanka is continuing to attract global support for the quick revival of its tourism industry which took a heavy blow following the terrorist attacks last month.

Lanka IOC announces new managing director

Indian Oil Corporation (IOC) owned Lanka IOC (LIOC) announced changes at the top management with the appointment of Manoj Gupta as a new managing director who assumed duties on May 20, 2019, and succeeds Shyam Bohra who has completed his tenure and has been transferred back to the parent company in India.

Nanda Ekanayake takes helm of INSEE Cement Sri Lanka

Sri Lanka’s foremost producer of cement, Siam City Cement (Lanka) Limited (SCCCL), known as INSEE Cement, announced changes to the composition of the company’s board of directors on May 15.

Fitch affirms Richard Pieris and Co. at ‘A(lka)’; Outlook Stable

Fitch Ratings has affirmed Sri Lanka-based conglomerate Richard Pieris and Company PLC’s (RICH) National Long-Term Rating at ‘A(lka)’ with a Stable Outlook. The affirmation of RICH’s ratings reflect the group’s substantial defensive cash flows stemming from its leading supermarket retail business, and diversification afforded by its export and plastics businesses.

Stocks edge higher on local buying; rupee firmer

REUTERS: Sri Lankan shares closed higher for a third straight session yesterday, moving further away from a near seven-year closing low hit last week, as local investors bought beaten-down stocks.

UNDP-Citi Foundation host 2nd Asia Pacific Youth Co:Lab Summit

The United Nations Development Programme (UNDP) and Citi Foundation, with the collaboration and support from the Science and Technology Ministry and the Viet Nam Volunteer Centre, opened the second Asia Pacific Youth Co:Lab Summit, in Hanoi yesterday.

Hayleys completes gender equality employee workshop

In an effort to drive support for gender equality in the workplace, iconic Sri Lankan multinational, Hayleys PLC, hosted an employee workshop along the theme: #BalanceForBetter with a view to sharing knowledge and ideas around the establishment of a workplace environment capable of supporting the aspirations of all employees regardless of gender.

Lankan youth win at ‘Silk Road & Young Dreams’ music competition

Young musicians Nipuna Siripathi and Tharushi Athukorala, who represented Sri Lanka at the recently held Silk Road & Young Dreams competition, were placed third for their outstanding performance under the ‘Silk Road Young Voice Musician’ category.

Lanka IOC MD Shyam Bohra completes his tenure

Lanka IOC PLC (LIOC) Managing Director Shyam Bohra has completed his tenure in Sri Lanka and would be moving back to the parent company Indian Oil Corporation on May 20, 2019, LIOC said in a statement.

Indian stocks see biggest gain since Sept. 2013

(Mumbai/Bengaluru) REUTERS: Indian stocks saw their biggest single-day gain since September 2013 yesterday while the rupee and bonds rallied after exit polls showed Prime Minister Narendra Modi was set to win a second term with an even bigger mandate than in 2014.

Sri Lanka’s budget, current account deficits could widen after bombings: IMF

(Colombo) REUTERS: Sri Lanka’s budget and current account deficits could widen because of the Easter Sunday bombings but the island’s economy will recover in the medium-term and then have about 5 percent annual growth, the executive director for the country at the International Monetary Fund (IMF) said on Thursday.

Singer Sri Lanka March in red amid mounting borrowing costs

Singer Sri Lanka PLC plunged into loss during the quarter ended March 31, 2019 (4Q19), as the sales continued to languish amid mounting borrowing costs as the consumer durables retailer appears to be mired in a prolonged web of troubles from both insides and outside.

EPF marks CSE re-entry buying 55mn Dialog shares

The state-run private sector pension fund, the Employees’ Provident Fund (EPF), marked its re-entry into the Colombo Stock Exchange (CSE) last week, with the purchase of 55 million shares of Dialog Axiata PLC for a consideration of Rs.495 million, Mirror Business learns.

Ceylon Chamber to hold seminar on ‘Brexit and its implications to Sri Lanka’

The evolving global trade environment poses numerous opportunities and challenges to countries like Sri Lanka. In an uncertain economic environment, the impact of Brexit is a development that the private sector needs to monitor.

MMBL-Pathfinder presents long-service awards

The Annual long - standing service Award ceremony of the MMBL - Pathfinder Group 2019 was held at the River point of the Group Headquarters in Peliyagoda recently.

Seminar on restructuring tertiary and vocational education sector

The National Human Resources Development Council of Sri Lanka (NHRDC) together with The Institute of Chartered Accountants of Sri Lanka (ICASL), Chartered Institute of Personnel Management (CIPM), The International Chamber of Commerce of Sri Lanka (ICC), Sri Lanka Institute of Tourism & Hotel Management (SLITHM) and Daily Financial Times will hold a seminar to discuss the fundamental changes the vocational education sector in Sri Lanka requires f

Hemas Hospitals takes legal action against fake news

Hemas Hospitals, one of Sri Lanka’s leading hospital chains for the past decade, has again been victimized as a result of fake news being circulated among the public.