Australia-Sri Lanka trade tops A$ 1.3bn

The bilateral trade between Australia and Sri Lanka has surged to a record high of Australian dollars (A$) 1.3 billion in 2016-17, on the back of strong growth in trade in services, up more than 27 percent, the Australian High Commission said in a media communiqué. 

Insurance red alert: Overseas fly-by-nights holding out as brokers illegitimately

Overseas companies are acting and holding themselves out as insurance brokers, when they are clearly not authorized to do so. These companies are not registered insurance and reinsurance brokers in Sri Lanka, as required by the Regulation of Insurance Industry Act No. 43 of 2000, industry sources said. 

Sri Lanka to raise US $ 500mn via bonds, divesting state hotels amid debt

REUTERS: Sri Lanka aims to raise US $ 500 million this month via development bonds and is in the process of divesting two state-owned hotels, the Central Bank and a ministry said yesterday, as the government faces unprecedented debt repayment this year.

Environment-friendly candidate for CMC

As part of his environment and ecological-friendly election campaign, Sampath Rambukkanage, the candidate for Pamankade (East) in the Colombo Municipal Council (CMC), is using a small fully electric car as his mode of personal transport.

Planters’ Association appoints Lalith Obeyesekere as Secretary General

The Planters’ Association of Ceylon (PA) has appointed Lalith Obeyesekere as its Secretary General, effective January 1, 2018. 

Grundfos appoints new head for Asia Pacific region

Leading pump manufacturer Grundfos has announced the appointment of Kim Jensen to the role of Group Senior Vice President and Regional Managing Director of Grundfos Asia Pacific region with effect from January 1, 2018.  

CPC signs agreement to initiate aviation fuel supply project

The agreement to initiate constructing a pipeline to supply aviation fuel from Muthurajawela to Bandaranaike International Airport (BIA) has been signed at Ceylon Petroleum Corporation (CPC), headed by CPC Chairman Dammika Ranatunga.

Justin Whyte Quartet featuring Jerome Speldewinde Jazz up Colombo

The City of Colombo will reverberate to the smoky sounds of the magical Justin Whyte Quartet on Friday the

SLAITO and THASL hail the upcoming promotion plan of Sri Lanka Tourism

In a joint communique, The Sri Lanka Association of Inbound Tour Operators (SLAITO) and The Hotel Association of Sri Lanka

KTI opens Farlin Baby Store at Ninewells Hospital

Kiddies & Toys International (KTI), Sri Lanka’s leading distributor of premium mother and childcare brands, in partnership

CAL revolutionizes the bond market with the launch of CALiper

In an effort to take government securities trading to the future and make it more accessible to all, CAL (Capital Alliance) recently 

Virtusa’s Smart ATM Solution Recognized at The International Business Awards

Virtusa Corporation (NASDAQ GS: VRTU), a global business consulting and IT outsourcing company that accelerate

JF Packaging recognized as ‘Most Awarded Flexible Packaging Company’

JF Packaging (Pvt) Ltd received two Gold and three Silver Lanka Star awards at the recent Lanka Star Awards for 2017, organized by the Sri Lanka Institute of Packaging.

Sritrims celebrates 21st anniversary

 Sritrims celebrated its 21st anniversary recently. A wholly Sri Lankan owned company, Sritrims was established in 1996, and with gradual expansion, full

Shalin Balasuriya among Ten Outstanding Young Persons

In the category of business, economic and/or entrepreneurial accomplishment at the awards ceremony held December 16th last year.

FPA Sri Lanka introduces SKYN condom brand to its portfolio

The Family Planning Association of Sri Lanka (FPA Sri Lanka) recently launched the latest ‘SKYN’ condom brand to its wide array of contraceptives, at a grand launch event held at the Shangri-La Hotel.

wOw.lk introduces sizzling Nikai range of cookers and ovens

wOw.lk, the largest e-commerce website in Sri Lanka, launched the high performance Nikai range of Ovens to Sri Lanka recently. 

CIC wins national award for innovative agriculture research work

CIC Holdings PLC was adjudged the winner of the most innovative research in non-plantation agriculture sector by the Sri Lanka Council for Agricultural Research Policy (SLCARP) at a ceremony held at Institute of Policy Studies (IPS) Colombo recently. 

Mobitel partners with HMD Global for the latest Nokia Android Smartphones promotion

Sri Lanka’s National Mobile Service Provider, Mobitel has entered into a partnership with HMD Global to launch a special seasona

Expert panel to discuss 2018 economic outlook and implications for biz

The Ceylon Chamber of Commerce has lined up a distinguished panel of experts to discuss the economic outlook and its implication for business during the year 2018. 

Fitch cuts Sunshine Holdings rating over debt-funded acquisition

The high debt burden on diversified conglomerate Sunshine Holdings PLC following the acquisition of an additional stake in one of its subsidiaries recently,  has resulted in credit rating agency Fitch downgrading the firm.

SL records Rs.22bn primary surplus for first time in 63 years

For the first time since 63 years, the government has been able to a record Rs.21.9 billion surplus in the primary balance of fiscal accounts during the first 10 months of 2017, the Finance and Mass Media Ministry 

Watawala Plantations announces Rs.1.3bn share buyback

Watawala Plantations PLC, a unit of Sunshine group, has announced a share buyback from its shareholders to the tune of Rs.1.3 billion.

Mark Mobius  retires from Franklin Templeton

REUTERS: Well-known emerging markets investor Mark Mobius will retire from Franklin Templeton Investments at the end of January, the investment fund announced recently.

Government seeks to hire advisor to sell Hilton, Grand Hyatt

The Sri Lankan government last week took the first step in the long overdue process of divesting non-strategic state-owned enterprises by announcing that it is headhunting for a Transaction Advisor for the Colombo Hilton and the Grand Hyatt.

EFL leads the way in sustainable logistics to obtain ISO 14064 certification

Leading global logistics provider, Expolanka Freight (EFL) once again set a new industry benchmark with the obtainin

Shares climb to near 2-month closing high

REUTERS: Sri Lankan shares rose yesterday, closing the first week of the New Year on a firm note, on the back of heavy foreign buying in blue chips. The Colombo Stock Index ended 0.85 percent firmer at 6,514.73, its highest close since Nov. 11. 

Qatar allows full ownership for foreign investors

AFP: Qatar has approved legislation allowing 100-percent ownership for foreign investors in most sectors of the economy in a bid to boost non-energy revenues, the government said this week.

Rupee ends higher on exporter dollar sales

REUTERS: The Sri Lankan rupee closed slightly firmer yesterday due to dollar conversions by exporters, but demand for the U.S. currency from banks capped the gains, dealers said. 

AmCham says overall impact of US GSP withdrawal on Lankan exports “small”

The United States’ Generalized System of Preferences (GSP) programme was discontinued for 120 countries across the world, with effect from the 1st of January 2018. Sri Lanka is one of them.