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IMF Reaches Staff-Level Agreement on the Fourth Review of Sri Lanka’s Extended Fund Facility

After constructive discussions with the authorities in Colombo and during the Spring Meetings in Washington DC, Manuela Goretti, the IMF mission chief for Sri Lanka, issued the following statement: “The IMF team reached a staff-level agreement with the Sri Lankan authorities on the fourth review under an economic reform program supported by a three-year Extended…

(0) Comments | April 20, 2018 8:39 pm

Featured

BOC handles record Rs. 54 b in ATM/CDM transactions this Avurudu

Bank of Ceylon yet again set a record during Avurudu season with over Rs. 54 billion worth transactions taking place in BOC’s very own CDM and ATM terminals.  This record is a testimonial to customers’ faith in the bank’s ATM/CDM network, to provide them the best in class 24-hour operative convenient banking services. Having a…

(0) Comments | April 20, 2018 10:39 am

Vision Care Brings its Eye Care Expertise to Panadura

Vision Care, the pioneering eye care company in Sri Lanka, inaugurated its newest branch at Panadura recently to facilitate access to its range of eye care products and services for residents of the popular suburb. The inauguration was witnessed by an eminent gathering consisting of Vision Care CEO Mr. Dasantha Fonseka; Dr. Mrs.Ranmini Senevirathne (Consultant…

(0) Comments | April 20, 2018 1:01 am

Google’s #Womenwill programme launched in Sri Lanka successfully

The launch Ceremony for Google’s global initiative, Womenwill, was carried out recently at the MAS Innovation Centre in Colombo. Womenwill, an initiative from Google aims provide equal opportunity to women around the world by giving them the skills and support to enhance digital literacy, entrepreneurship, inclusive workplace and leadership in women, with the ultimate goal…

(0) Comments | April 20, 2018 12:59 am

Metropolitan re-launches the popular Canon PIXMA Ink Efficient G Series

Metropolitan Group, the market leader in office automation is refreshing its extensive portfolio of printers by re-launching four of Canon’s highly popular PIXMA Ink Efficient G Series refillable ink tank system printers in Sri Lanka. The Canon PIXMA Ink Efficient G Series re-launch featured G1010, G2010, G3010 and G4010 refillable ink tank system printers. Additionally,…

(0) Comments | April 20, 2018 12:51 am

Resus Energy gears to feed more power to national grid

Hydro electricity is the oldest and the principal source of electricity generation in Sri Lanka. Its unique geography renders the country perfectly suited for hydropower generation through large scale and mini hydropower plants. Joining the latest technologies with an environmentally responsible business proposition to generate renewable and sustainable energy, Resus Energy PLC operates several such…

(0) Comments | April 18, 2018 9:28 pm

Fox Hill Supercross 2018 made Hot & Spicy with Prima KottuMee

True to its nature Prima KottuMee has leapt back into action, this time into the very heart of it all, as the main sponsor of the Fox Hill Supercross 2018. Organized by the Sri Lanka Military Academy, the Fox Hill Supercross 2018 is the ultimate test of a motorist’s skill and endurance. The 26th Fox…

(0) Comments | April 18, 2018 9:20 pm

Mobitel rewarded for Corporate Excellence at Le Fonti Awards 2018 in Hong Kong

Sri Lanka’s National Mobile Service Provider, Mobitel, took a well-deserved spot amongst the world’s leading corporate stars at the ¬¬¬40th Le Fonti Awards Gala and CEO Summit in Hong Kong, which was held on 23rd March 2018. Mobitel was bestowed with the Le Fonti Corporate Award for ‘Excellence of the Year for Innovation & Leadership’…

(0) Comments | April 18, 2018 9:02 pm

Mahagastotte Hill Climb powered by Mobitel

~ Mobitel-Mahagastotte Festival of Speed 2018 Mobitel has partnered with Ceylon Motor Sports Club to sponsor the eagerly anticipated Mahagastotte Hill Climb Race at Mahagastotte Hill, which has become a regular feature in the motor sports calendar in Sri Lanka. By supporting this legendary race, which dates back to 1934, Mobitel is forging strong ties…

(0) Comments | April 18, 2018 8:56 pm

Ruhunu Hospital invests and partners in Creedence Genomics

Ruhunu Hospital (Pvt) Ltd a trusted name in Health Care in the Southern Province invests in Creedence Genomics, a company that is changing how Diagnostics is done and has paved the way for the future by using Next Generation Sequencing (NGS). Moreover, it is a pioneer in locally commercializing genomic tests based on (NGS) technology….

(0) Comments | April 17, 2018 10:05 pm

Unilever educates at World Oral Health Day celebrations

Renews commitment to creating a ‘Cavity Free Sri Lanka’   Unilever Sri Lanka, a company with a proud 80 year history in the country, together with the Ministry of Health, Ministry of Education, Sri Lanka Dental Association (SLDA) and the FDI (Fédération Dentaire Internationale – World Dental Federation)recently organized an event at the Independence Square…

(0) Comments | April 17, 2018 3:29 pm

Top News

The biggest Sri Lankan Business Delegation at London’s Commonwealth Business Forum

A record number of Sri Lankan small and medium scale business delegates participated at the Commonwealth Business Forum that was held from 16-18 April in London held alongside CHOGM 2018. Organized by the Commonwealth Enterprise and Investment Council, the Business Forum was held in three iconic venues namely Guildhall, Mansion House and Queen Elizabeth II,…

(0) Comments | April 20, 2018 3:11 pm

Sri Lankan stocks slip as investors sell select blue chips

Reuters – Sri Lankan share index slipped on Thursday from a five-week closing high hit the previous day, snapping a six-session winning streak, as investors offloaded select blue-chip stocks in low volumes. Many market participants stayed away due to extended holidays after the Sinhala-Tamil New Year festival last weekend, brokers said. The Colombo stock index…

(0) Comments | April 20, 2018 1:02 am

Extensive Overhauls at CPC’s Sapugaksanda Oil Refinery to Enhance National Energy Supply

The Ceylon Petroleum Corporation’s (CPC) Sapugaskanda Oil Refinery successfully completed a colossal 35-day overhaul and renovation programme recently, aimed to boost efficiency, reliability and productivity of the refinery. The 50-year-old facility, which is the only oil refinery in Sri Lanka, refines imported crude oil to supply 30% of the energy demand of the nation. The…

(0) Comments | April 19, 2018 12:15 pm

China’s $1 Billion White Elephant

Bloomberg – Each year roughly 60,000 ships vital to the global economy sail through the Indian Ocean past a Chinese-operated port on the southern tip of Sri Lanka. Almost none of them stop to unload cargo. The eight-year-old Hambantota port – with almost no container traffic and trampled fences that elephants traverse with ease –…

(0) Comments | April 19, 2018 11:50 am

UK keen to expand direct investments in Sri Lanka

The UK’s Secretary of State for International Trade Liam Fox says that the Government of Britain  is ready for direct investments in Sri Lanka, while increasing the investments in the country. He further said that the necessary process in this regard will be implemented in the near future. President Maithripala Sirisena who is in London…

(0) Comments | April 19, 2018 11:29 am

$100 Oil Is Back On The Table

Oil prices will rise to $100 per barrel if Saudi Arabia gets its way. Only a week ago, news surfaced that Saudi officials were quietly hoping to push oil prices up to $80 per barrel, which would help boost the valuation of Saudi Aramco IPO. But why not $100 per barrel? Reuters reports that Riyadh would…

(0) Comments | April 19, 2018 10:20 am

Sri Lankan stocks extend gains, hit 5-week closing high

Reuters – Sri Lankan share index ended at its highest close in more than five weeks on Wednesday, gaining for a sixth straight session, but many market participants stayed away due to extended holidays after the Sinhala-Tamil New Year festival last weekend. The Colombo stock index ended 0.12 percent higher at 6,551.83, its highest close…

(0) Comments | April 19, 2018 10:01 am

Sri Lanka’s ICT/BPM Brand “Island of Ingenuity” Launched in London

An opportunity for global companies to set up Captive InnovationCentres in Sri Lanka Leverage Sri Lanka to be your ‘Digital Gateway to Asia’ to test and service Asian markets Invest in global “Digital Disruptors” that are developing domain-specific, transformative IP and business products   The National Brand for theSri Lanka ICT/BPM sector was launched in…

(0) Comments | April 18, 2018 11:19 pm
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Analysis

The Glyphosate Story – CKDu, food security and national economy

• Time-tested weed control techniques/tools such as glyphosate, have been removed without scientific proof, affecting our food security and national economy • The ban has opened up avenues for business crooks to import the product illegally • Glyphosate ban should be lifted and we should continue research on effective and economically viable alternatives By Professor…

(0) Comments | April 18, 2018 9:14 pm

Biz Barometer Takes a Tumble

Businesspeople recoil in the face of post-poll concerns and mounting civil unrest A tumultuous period followed the recent local government (LG) elections, which saw a perceived shift in power within the government and led to uncertainty regarding how the coalition partners might proceed. The climate of uncertainty was soon exacerbated by racially motivated riots by…

(0) Comments | April 11, 2018 10:58 am

The fruits of success: Binesh Pananwala elaborates on the continuing journey of Watawala’s burgeoning oil palm sector

Despite first being established in 1968 on Watawala Plantations’ Nakiyadeniya Estate in the Galle district, oil palm has until recent times gone under the radar as one of Sri Lanka’s most promising cash crops. While this is true both in terms of its ability to generate substantial profits for estates and the remarkably positive socio-economic…

(0) Comments | April 9, 2018 9:55 pm
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