Tuesday, 3rd March 2015

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Today, Colombo, Sri Lanka

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Business

Colombo stock market swung between gains and losses today amid the sharp increase in Treasury yields for the fourth consecutive week. During the opening hours, All share index inclined to 7,269.86 (+0.3%) but lost the momentum in the latter part.

Full Article Tuesday, 03 March 2015 17:31

Sri Lanka's treasury bill yields has increased for the fourth consecutive week, data released by the Central Bank following the weekly primary auction held today showed.

Full Article Tuesday, 03 March 2015 17:25

One-off and recurring taxes on the Sri Lankan telecoms sector as set out in the interim budget proposals on 7 February, raise regulatory risks and would lead to lower profitability and higher financial leverage for Sri Lankan telcos, says Fitch Ratings.

Full Article Tuesday, 03 March 2015 16:17

Amidst the recent imposition of a ban on fish exports from Sri Lanka to the European Union (EU), Sri Lanka’s fish exporters have commenced importation of fish from Maldives and India for re-export to the region as a means of retaining long-standing high-end buyers from the region, industry stakeholders said last...

Full Article Sunday, 01 March 2015 00:00

The already controversial Port City Project, if completed, could create long-term impacts in Colombo in the form of water scarcity and sewerage issues, Deputy Minister, Highways, Higher Education and Investment Promotion, Eran Wickramaratne said last week. The project is already under scrutiny and has been suspended as it had failed to obtain Parliamentary approval. It is expected that 300,000 people...

Full Article Sunday, 01 March 2015 00:00

Sri Lanka Tourism is to review tourist arrival statistics during the past few years to get a clear view of the number of foreigners who had visited the country, the purpose and the duration of their...

Full Article Sunday, 01 March 2015 00:00

Hatton National Bank recorded another year of outstanding performance with Group Profit After Tax (PAT) increasing by 29% to Rs.10.1 billion while, the Bank’s PAT recorded a growth of 28% exceeding Rs.9 billion. All Group companies also recorded the best ever performance in terms of profitability during the year with HNB Assurance LC, Sithma Development Pvt Ltd and Acuity Partners Pvt Ltd recording...

Full Article Sunday, 01 March 2015 00:00

‘Red Bull Levels’, a unique event organized in partnership with Cinnamon Hotels & Resorts, saw over 250 participants who competed in an obstacle course conceptualized around the native traditions of stilt fishing and toddy tapping at Bentota...

Full Article Sunday, 01 March 2015 00:00

Consequent to the reduction of prices of many essential items in the interim Budget on January 29, inflation in the month of February has fallen to a record low of 0.6% Year on Year compared to a growth of 3.2% YoY witnessed in January 2014.Annual average inflation...

Full Article Sunday, 01 March 2015 00:00

Sri Lanka’s gross official reserves fell to US$ 7.26 billion in January 2015, from US$8.2 billion as of end December 2015, official data showed. The island’s foreign reserves were up in August 2014 at US$9.2 billion amid weak credit growth and since then it has been falling steadily as domestic credit growth...

Full Article Sunday, 01 March 2015 00:00

Workers’ remittances in the year 2014 has amounted to US$ 7,017.8 million with a growth of 9.5 per cent in 2014 compared to US dollars 6,407.0 million in 2013. Accordingly, December 2014 had recorded the highest ever monthly inflow of workers’ remittances of US $708.8 million compared to US$602.8 million in December 2013, the...

Full Article Sunday, 01 March 2015 00:00

On a cumulative basis, earnings from exports during 2014 grew by 7.0 per cent to US dollars 11,118 million, while expenditure on imports amounted to US dollars 19,417 million registering 7.9 per cent growth. The leading markets for merchandise exports of Sri Lanka during 2014 continued to be the...

Full Article Sunday, 01 March 2015 00:00

A high powered panel featuring prominent chartered accountants and corporate leaders will share their thoughts on the greater role women can play in business at a breakfast meeting organized by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) on Tuesday, March 3. The panel discussion organized to commemorate the International Women’s Day will be moderated by Editor in Chief of...

Full Article Sunday, 01 March 2015 00:00

Transport experts in the country have called on the Government to focus on the development of the mass transportation system to cope with the increasing mobility rate and the surge in vehicular influx to the country’s road network following the recent fuel price reduction.
Transport expert and Senior Lecturer in the Department of Transport and Logistics Management...

Full Article Sunday, 01 March 2015 00:00

Dr. Karunasena Kodituwakku, a renowned scholar, administrator and diplomat, assumed duties as the new chairman of National School of Business Management (NSBM) and National Institute of Business Management (NIBM) with effect from February 2015.  He has been trained in the discipline of Economics both locally and internationally with a Bachelor’s degree from University...

Full Article Sunday, 01 March 2015 00:00

With Sri Lanka’s most famous ‘big match’ only a few short weeks away, fan-favorite Elephant House has once again come on board to partner what is expected to be yet another thrilling “Battle of the...

Full Article Sunday, 01 March 2015 00:00

Hilton Colombo’s popular Tittle Tattle High Tea + Fashions is back now at a new location. Spices dishes out an extensive array of high tea delectable’s ranging from cold to hot food and pastries and cakes with an a la minute pancake corner with various toppings every Thursday and Saturday from 4.00pm to...

Full Article Sunday, 01 March 2015 00:00

Sri Lanka’s only comprehensive food, agriculture and packaging exhibition, Pro food/ Pro Pack & Agbiz 2015 is to be held for the 14th consecutive year from 7-9 August  at the Sirimavo Bandaranaike Memorial Exhibition Hall. The exhibition is organized by the Sri Lanka Food Processors Association together with Presidential Award Winning Lanka Exhibition and Conference Services. Pictures show Minister of Industry...

Full Article Sunday, 01 March 2015 00:00

“Ceylon Tea” which pioneered to help the popularity of the small Indian Ocean Island to global stardom for more than a century received a terrific upgrading recently at the world’s largest annual Food & Beverage Exhibition “Gulfood” in Dubai. The platform was a Ceylon Specialty Estate Tea of the Year Competition and a Charity Tea Auction focusing on the discerning tea consumers...

Full Article Sunday, 01 March 2015 00:00

IPM, the nation’s leader in Human Resource Management (HRM) and Holcim (Lanka) Ltd, the preferred supplier of cement in Sri Lanka, last week partnered to deliver a customized training program titled, Front-Line Management Program (FLMP), to develop Holcim employees. The Front-Line Manager program commenced on January 30, 2015 with an inauguration ceremony...

Full Article Sunday, 01 March 2015 00:00

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