Tuesday, 2nd September 2014

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Today, Colombo, Sri Lanka

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Business news

The Chairman/Managing Director of top diversified conglomerate, Distilleries Company of Sri Lanka PLC (DCSL), D. H. S. Jayawardena laments that the level playing field the company has sought for carrying out their business remains elusive on account of inaction by the powers that be, effectively stifling the Group from achieving its true financial potential.
Full Article Sunday, 31 August 2014 00:00
Twenty-three beautiful young finalists of the Miss Universe China pageant have been touring Sri Lanka since the beginning of this month having chosen the island as their destination getaway. Here the pageant are pictured when they made a stopover at the historic Lake Hotel in Polonnaruwa recently
Full Article Sunday, 31 August 2014 00:00
Sri Lanka is to launch an online support system focusing on the issues faced by the small and medium entrepreneurs in the island, the Ministry of Industry and Commerce announced last week.“This issue tracker will focus on the problems and difficulties of SME,” Minister of Industry and Commerce, Sri Lanka Rishad Bathiudeen was quoted in the release.
Full Article Sunday, 31 August 2014 00:00
The head of Sri Lanka’s leading distillery firm, Distilleries Company of Sri Lanka PLC (DCSL), D. H. S. Jayawardena says it is heart-rending to witness the collapse of the tradition of toddy tapping, a proud legacy in the country. The DCSL Chairman/Managing Director notes that increasingly, toddy suppliers are giving up their business by leasing or selling their lands and…
Full Article Sunday, 31 August 2014 00:00
The Colombo Stock Exchange (CSE) and the Securities and Exchange Commission of Sri Lanka (SEC), in association with the Sri Lankan Embassy in Washington D.C will host its first “Invest Sri Lanka – Investor Forum” in North America on September 4 in New York City. Bloomberg and the American Chamber of Commerce (AMCHAM) Sri Lanka are the strategic partners.
Full Article Sunday, 31 August 2014 00:00
New hope has emerged for the rubber industry with the Secretary General of the International Rubber Research and Development Board, Dr Abdul Aziz last week envisaging that rubber prices to recover soon. According to Dr. Aziz, rubber prices would recover ‘before very long’.“At this moment rubber prices are not so conducive but you know that rubber always bounces back,”
Full Article Sunday, 31 August 2014 00:00
Dankotuwa Porcelain PLC, a leading manufacturer and marketer of Porcelain Tableware last week announced that the company has been able to record a profit for the second consecutive year for the Financial Year ended 31 March 2014, a situation that was seen by the company only 10 years ago.“We were able to close this year with a net profit after…
Full Article Sunday, 31 August 2014 00:00
In accordance with the Divi Neguma Development Department’s goal of eliminating poverty, the Divi Neguma credit scheme will commence tomorrow, September 1 under the theme ‘On-the-Spot-Cash’ (Esuru Senin Athata Mudal). This credit scheme will ensure credits up to a maximum of Rs.50,000 without guarantors on a special low interest rate of four percent.
Full Article Sunday, 31 August 2014 00:00
FACETS Sri Lanka 2014, the International Gem and Jewelry Show, that showcases hundreds of local and foreign exhibitors held the final stall holders meeting, at the Sri Lanka Gem and Jewellery Association Secretariat in Colombo recently. The meeting was preceded by The FACETS organizing committee and the board members of Sri Lanka Gem and Jewellery Association including,
Full Article Sunday, 31 August 2014 00:00
Joy Chauhan has been appointed as the President, JWT group, Sri Lanka. This was announced by JWT CEO South Asia, Colvyn Harris. Joy Chauhan will be taking over from Himanshu Saxena as President, JWT Group of Companies, Colombo, with effect from September 1, 2014. Himanshu Saxena, will assume duties as Senior Vice President and Managing Partner, JWT South.
Full Article Sunday, 31 August 2014 00:00
The Central Bank of Sri Lanka (CB) and the People’s Bank of China entered into a Bilateral Investment Agreement on Bond Investment last week, which enables the Central Bank of Sri Lanka to further diversify its reserves management activities into Chinese Renminbi denominated assets. As a result, the CB could now access one of the largest and growing securities markets…
Full Article Sunday, 31 August 2014 00:00
The National Mobile Service Provider Mobitel was honored with the ‘Engineering - Services’ Award at the prestigious Excellence in Engineering Awards organized by the Institute of Engineers Sri Lanka (IESL) recently for following the best practices in project management designed to operate Mobitel’s sophisticated engineering systems and processes.
Full Article Sunday, 31 August 2014 00:00
Commercial Bank of Ceylon PLC has announced the appointment of K. M. Mahinda Siriwardana as a non-executive Director of the Bank with immediate effect.Siriwardana is the Director General, Department of Fiscal Policy at the Ministry of Finance and Planning and is involved in activities related to tax policy, government revenue and overall macro-fiscal management, the Bank said.
Full Article Sunday, 31 August 2014 00:00
Paris: IMF chief Christine Lagarde, one of the world’s most powerful women, announced Wednesday she had been charged with “negligence” over a multi-million-euro graft case relating to her time as French finance minister.The shock announcement came a day after she was grilled by a special court in Paris that investigates cases of ministerial misconduct,
Full Article Sunday, 31 August 2014 00:00
IFC, a member of the World Bank Group, last week said it is investing $20 million in Sri Lanka’s Cargills Foods Company (Private) Limited, the retail subsidiary of Cargills (Ceylon) PLC. The investment will help the company expand operations, reach more farmers, and improve efficiency of its supply chains.
Full Article Sunday, 31 August 2014 00:00
Inflation, based on the change in the Colombo Consumers’ Price Index (CCPI) (2006/07=100), which is computed by the Department of Census and Statistics, continued its decelerating trend observed since June 2013 and reached 4.5 per cent in August 2014 compared to 4.7 per cent in July 2014, on an annual average basis.
Full Article Friday, 29 August 2014 19:55
The Chairman of Lanka IOC Plc (LIOC), Makrand Nene says it is of great importance that the Sri Lanka Government evolves a transparent pricing system for fuels which would not only benefit the public but would also pave way for systematic infrastructure development in the energy sector. According to the LIOC management, there remains minimal correlation of local prices to
Full Article Sunday, 24 August 2014 00:00
The establishment of domestic and public rainwater harvesting systems in the small community of 1600 villagers at Kallaru in Kilinochchi has enabled three schools in the area, benefiting 200 school children and 19 teachers. This project was undertaken by Coca-Cola recently in collaboration with UN-Habitat and Kallaru Women’s Rural Development Society to provide clean drinking water.
Full Article Sunday, 24 August 2014 00:00
The cumulative trade deficit in the Trade Account of the Balance of Payment has contracted by 20.1 percent, as a result of a 16.8 percent growth in export earnings and a 1.2 percent decline in import expenditure during the first half of 2014, the Central Bank said last week.On a year-on-year basis, earnings from exports in June 2014 grew by…
Full Article Sunday, 24 August 2014 00:00
Swiss specialty chemicals company Sika last week announced it is expanding its presence in the Asia/Pacific Region with the establishment of new Sika subsidiary in Sri Lanka. Sika is the first international player in the construction chemicals industry to establish a presence in Sri Lanka.
Full Article Sunday, 24 August 2014 00:00

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