ICCSL head office moves to new location

The International Chamber of Commerce Sri Lanka (ICCSL), the domestic chapter of the Paris-based international world business organization moved its head office to Aitken Spence Tower 1 recently. Dinesh Weerakkody Chairman ICCSL, Past Chairmen Tissa Jayaweera and Kerrthi Gunawardana and ICCSL Secretary Shanil Fernando at the ribbon-cutting ceremony

Omani envoy invites Lankan entrepreneurs to invest in Sohar Free Port Zone

Oman Ambassador to Sri Lanka, Al-Sheikh Jumah Hamdan Al-Shehhi called on Sri Lankan entrepreneurs to invest in Oman who would be bestowed with incomparable incentives of entry especially in the Sohar Free Port Zone. 

‘Taxiyak’ to make trip scheduling more flexible

‘Taxiyak’, the latest taxi booking and trip-scheduling app, which offers the most flexible trip planning and scheduling options, has entered the market.

Colombo hosts trilateral dialogue on maritime domain awareness

The Pathfinder Foundation, together with an Australian delegation led by the National Security College at the Australian National University and Carnegie India held a one-day Track II trilateral conference titled ‘Colombo Dialogue: Emerging Dialogue in the Indian Ocean - Regional Cooperation on Maritime Domain Awareness’  at the Cinnamon Grand, Colombo recently. 

Fonterra’s Vidya to lead Malaysia and Singapore business

Currently Fonterra Sri Lanka’s General Manager of Marketing, Vidya Sivaraja was recently appointed Managing Director of the Malaysia and Singapore business, effective 1stFebruary 2018. 

CB releases Rs.1000 note to mark 70th Independence

The Central Bank of Sri Lanka has issued a circulation standard commemorative currency note in the denomination 

Tourist arrivals to Maldives up 20% in December

The Maldives welcomed 143,041 tourists in December 2017, which was a 19.7 percent increase compared to the corresponding month in 2016, with increasing numbers of tourists visiting from all major source markets in Europe and Asia.

CA Sri Lanka educates Nepal’s chartered accountants on IFRS implementation

In its capacity as an influential accounting body, CA Sri Lanka continued to take the lead in educating member bodies in the South Asian region on the implementation of the International Financial Reporting Standards (IFRS). 

Sri Lanka gets AUD 31mn grant assistance to strengthen governance

Australia and Sri Lanka have signed a subsidiary arrangement for grant assistance to work together on strengthening governance in Sri Lanka, through a four-year programme valued at up to AUD31 million (Rs.3,850 million). 

Fitch rates DFCC’s Basel III sub-debt up to Rs.7bn ‘A+(lka)’

  Fitch Ratings has assigned DFCC Bank PLC’s Basel III-compliant subordinated unsecured debentures an expected national long-term rating of ‘A+(lka)(EXP)’, one notch below the bank’s National Long-Term Rating of ‘AA-(lka)’. 

StanChart forecasts slowdown in exports this year

As the temporary drivers that boosted global exports in 2017 are set to fade away, the world’s exporting nations, particularly in Asia, are unlikely to see the same export growth they witnessed in 2017, according to the Standard Chartered’s  global economic outlook report for 2018 titled ‘Beware of the dog’.

January consumer inflation eases to 5.8%

REUTERS: Sri Lanka’s consumer prices in January rose 5.8 percent from a year earlier, but eased from the previous month’s 7.1 percent, government data showed yesterday. 

25 Amana Takaful “Adhyapana” policyholders rewarded for their exceptional performance

A solid education is valued above all, in the present society.Education indeed defines an individual and opens up many

Hameedia encourages customers to dress better this new year

Hameedia, Sri Lanka’s leading menswear specialist, has launched its annual ‘Upgrade your Wardrobe’ initiative,

SLIM Holds Inauguration Ceremony for First CIM Intake of 2018

The Sri Lanka Institute of Marketing (SLIM), the renowned National Marketing body and premier Institute for Marketing education

Conde Nast Traveller includes Cantaloupe Levels in its coveted ‘Best Beach Breaks 2018’

One of southern Sri Lanka’s hippest boutique hotels, Cantaloupe Levels, has been anointed one of the ‘Best beach breaks for 2018’ 

Ciello Launches Gallery & Introduces Cutting-Edge European Technology

Ciello, a disruptive new start-up has entered the local market with the aim of changing the way spaces are created in Sri Lanka

Crocodile Lanka opens flagship store in Duplication Road

Crocodile Lanka in a bid to provide their customers with more choice and easier access recently relocated its flagship store to 345, Duplication Road, Colombo 03.  The launch event was attended by leading personalities in the corporate world, well-wishers and members of their loyalty programme. To commemorate the grand occasion Crocodile Lanka awarded their customers with attractive gifts for every purchase made on the day.

Cyber Illusions marks sixth year of creativity and innovation

Live experience designer and consultant, Cyber Illusions has marked its sixth year of creativity and innovation, in 2018, with the delivery of Oman’s largest projection mapping project to-date.   

Pidilite Lanka plans product development and aggressive market expansion

Pidilite Lanka announced its new phase of development and an aggressive expansion drive, following the acquisition of Chemifix, a leading adhesive material marketer in Sri Lanka. 

McLarens Lubricants highlights importance of using food grade oils

McLarens Lubricants Limited, the local agent for Mobil Lubricants in Sri Lanka underscored the benefits the food and beverage industry in Sri Lanka can achieve and pass onto consumers with the use of ‘food grade oils’, that are uniquely designed to help enhance equipment efficiency, maximize productivity while safeguarding products against food contamination.

FCCISL recognizes Nipuna Illangarathne as young entrepreneur of 2017

Nipuna Illangarathne Managing Director of Virco International (Pvt) Ltd who has been in operation since 2015 was recently named as the young entrepreneur of the year 2017 North Western province,  at the recently concluded awards ceremony held at the BMICH and  organized by the Federation of Chambers of the Commerce and Industry of Sri Lanka.

Hellmann and MAS establish joint venture in contract logistics and 4PL

Hellmann Worldwide Logistics (HWL) and MAS Holdings established the joint venture Hellmann MAS Supply Chain (HMSC) in Sri Lanka by combining Hellmann´s existing contract logistics business in Sri Lanka and in-house logistics activities of MAS. 

Tea Board mulls closing down “a couple of hundred” errant tea factories

Continuing the rigid stance taken by the government recently with respect to the tea trade, the Sri Lanka Tea Board, starting next month, will begin to shut down as many as 200 tea factories, which fail to meet the sanitary standards when producing tea.

Khapra woes continue; Russian fact-finding mission to arrive this week

Sri Lanka faces the struggle of proving to the world that the troublesome khapra beetle is not present in the country, as a Russian fact-finding mission arrives this week.

Rupee closes marginally weaker as banks, importers buy dollars

REUTERS: The Sri Lankan rupee ended slightly weaker yesterday in dull trade as banks and importers bought dollars, dealers said.

People’s Leasing December net up amid rising NPL pressure

People’s Leasing & Finance PLC reported some modest performance during the December quarter as the country’s largest non-bank lender by assets became cautious amid the rising bad loans.

Spice producers hail President’s pepper re-export ban

The Spices & Allied Products Producers’ & Traders’ Association (SAPPTA) yesterday hailed President Maithripala Sirisena’s decision to ban re-export of pepper.

Fitch downgrades HDFC Bank rating as govt. fails to infuse capital

Fitch Ratings yesterday downgraded Housing Development Finance Corporation Bank of Sri Lanka’s (HDFC Bank) national long-term rating to ‘BBB-(lka)’ from ‘BBB(lka)’ as the bank has failed to beef up its capital base. 

Pathfinder Foundation launches ‘Samudra Manthan’ Sinhala translation

The first copies of ‘Samudura Kelambuma’, the Sinhala translation of Dr. Raja C. Mohan’s ‘Samudra Manthan: Sino-Indian Rivalry in the Indo-Pacific’, published by the Pathfinder Foundation, were handed over to a group of former senior diplomats, at a ceremony held at Cinnamon  Grand recently.