Business

Treasury allocates Rs. 100 m for trust fund for children affected by Easter Sunday bombs 

Views - 1 Thursday, 27 June 2019 02:21

The Government yesterday decided to set up a trust fund for 33 children left disabled or orphaned due to the Easter Sunday bombings, the Prime Minister’s office announced in a statement.  A sum of Rs. 100 million has already been allocated by the


Hungary to fund Euro 52 m to build flyovers at Kohuwala and Getambe

Views - 1 Thursday, 27 June 2019 02:20

Cabinet approval has been granted to enter into an agreement with the Government of Hungary to obtain financial assistance for the construction of two flyover bridges at Kohuwala and Getambe. The proposal to obtain financial assistance from the Gover


Enterprise Sri Lanka program to boost film industry

Views - 1 Thursday, 27 June 2019 02:19

Based on a proposal submitted by the well-known film producer, director of MPI Film Circuit Chairman of Universal Media Network Ltd., and Cinelink Ltd., Dr. Arosha Fernando, recently the Cabinet approved the construction of 25 brand new movie theatre


India to get 15% of East Container Terminal management company: President

Views - 1 Thursday, 27 June 2019 02:18

President Maithripala Sirisena yesterday said the Indian partner of the East Container Terminal (ETC) management company would be allocated 15% ownership and 34% would be held by Japan while Sri Lanka would retain ownership with a 51% stake. Preside


FastTrack Summer Internship Program 2019 returns

Views - 268 Wednesday, 26 June 2019 02:57

Brandix Apparel Ltd., Fonterra Brands Lanka Ltd., and John Keells Holdings PLC held the orientation for 15 diverse, talented interns yesterday at Hatch, Colombo, formally commencing the FastTrack Summer Internship Program 2019.


As tax, trade and transparency dominate G20 agenda, IFAC issues call-to-action

Views - 14 Wednesday, 26 June 2019 02:56

IFAC (the International Federation of Accountants) last week urged G20 countries to pursue smart regulation, heightened transparency, and inclusive growth to embrace Japan’s vision for an innovative and intelligent ‘Society 5.0’.


INSEE Ecocycle extends waste management services to BOI for next 16 years

Views - 25 Wednesday, 26 June 2019 02:56

After a decade of successful operations with the Board of Investment – Sri Lanka, INSEE Ecocycle Lanka, the waste management subsidiary of INSEE Cement, the country’s premier cement manufacturer, recently signed an agreement, extending its waste


EU ministers approve trade deal with Vietnam

Views - 13 Wednesday, 26 June 2019 02:52

Brussels (Reuters): Ministers from European Union countries on Tuesday approved a landmark free trade agreement with Vietnam, which will reduce tariffs on 99% of goods over a period of 10 years.


Today’s business leadership lacks infinite vision: Simon Sinek

Views - 32 Wednesday, 26 June 2019 01:31

Simon Sinek says today’s business leadership sucks! He says that if corporates and their leadership are doing well, he wouldn’t have a career, and that it is embarrassing there is demand for his work which gives sense there is “something missin


PIM develops managerial competencies of Government Printing Dept.

Views - 13 Wednesday, 26 June 2019 01:26

The Postgraduate Institute of Management (PIM), as the nation’s management mentor, inaugurated a special Executive Development Program for the Department of Government Printing recently.


Asian companies prioritise technology, sustainability and people as drivers of future growth

Views - 29 Wednesday, 26 June 2019 01:25

Businesses across Asia increasingly believe the strongest opportunities for future growth lie in technology, sustainability and developing talent to harness digital advancement. While more than a third of Asian businesses are prioritising expansion i


Stax Inc. insights-as-a-service helping businesses improve decision-making

Views - 31 Wednesday, 26 June 2019 01:19

Stax Inc., Sri Lanka’s leading management consulting firm, helps both local and international clients make better sense of their internal data with its Insights-as-a-service (IAAS), resulting in greater profitability, growth and employee engagement


Dankotuwa launches Ivory Grade

Views - 23 Wednesday, 26 June 2019 01:13

Dankotuwa Porcelain PLC, renowned for its luxurious and elegant porcelain tableware, recently introduced its Ivory Grade tableware into the Sri Lankan market. Reputed for its elegant trends, innovations and modern designs in both the local and globa


Technology transfer program for ornamental fish sector from 26-28 June at NARA

Views - 40 Tuesday, 25 June 2019 00:11

The Export Development Board together with the National Aquatic Resources Research and Development Agency (NARA), National Aquaculture Development Authority (NAQDA), and the Live Tropical Fish Exporters Association will conduct a three-day technology


Sri Lanka’s road to economic recovery after 21/4 carnage is far: Janaka Ratnayake

Views - 117 Tuesday, 25 June 2019 00:00

Sri Lanka’s road to economic recovery will take longer in the backdrop of the economic losses caused by the Easter Sunday carnage, which has completely changed the country’s landscape, Trillium Property Management and Services Ltd. Chairman Janak


ICRA Lanka revises rating of Hayleys to [SL] A+ (Stable) from [SL] AA- (Negative)

Views - 4 Monday, 24 June 2019 00:18

ICRA Lanka Ltd., a Subsidiary of ICRA Limited group company of Moody’s Investors Service, has assigned the issue rating of [SL]A+ (pronounced SL A plus1) with Stable outlook for the proposed Senior Unsecured Redeemable debenture program of Hayleys


SL proposes developing investment plan with Japan

Views - 88 Monday, 24 June 2019 00:15

The development of an investment plan between Sri Lanka and Japan was discussed during a high level meeting between Sri Lankan Prime Minister Ranil Wickremesinghe and Japanese Prime Minister’s Special Advisor Dr. Hiroto Izumi last week. Dr. Izumi r


Browns Thermal Engineering strengthens automotive product range with Bosch partnership

Views - 47 Monday, 24 June 2019 00:14

Browns Thermal Engineering Ltd. (BTEL), the manufacturing arm of Browns Group, recently signed an agreement with Roberts Bosch Lanka Ltd., the local subsidiary of global technology and services supplier Bosch. The agreement will make Browns a distrib


Sadaharitha drives inoculation campaign to produce high-quality Agarwood

Views - 24 Saturday, 22 June 2019 00:02

Sadaharitha Plantations Ltd., as the nation’s pioneer in commercial forestry and exclusive patent holder for the commercial production of Agarwood commenced a novel inoculation drive recently to ensure the production of the high-quality


Fitch affirms Sunshine Holdings at ‘A-(lka)’; outlook stable

Views - 30 Saturday, 22 June 2019 00:01

Fitch Ratings has affirmed Sri Lanka-based Sunshine Holdings PLC’s National Long-Term Rating at ‘A-(lka)’. The outlook is stable. The affirmation reflects the company’s improved business-risk profile after exiting its tea-plantation business,


NCE Past President Sarada De Silva to address WTO – Aid-for-Trade Global Review 2019

Views - 13 Saturday, 22 June 2019 00:01

National Chamber of Exporters (NCE) Past President, Management Committee Member and Council Member, and Spice Council of Sri Lanka, Ceylon Cinnamon Association, and Ceylon Cinnamon Geographical Association Founder Chairman Sarada De Silva has been in


Daraz Mobile Week brings back exclusive deals

Views - 32 Saturday, 22 June 2019 00:00

Those who have experienced Daraz Mobile Week, previously, need no explanation about its magnitude in offering the best prices, discounts and exclusive deals on leading smartphones and accessories, as no other online sale does. The 2019 Daraz Mobile


Emirates commits to reducing single-use plastic on board

Views - 22 Saturday, 22 June 2019 00:00

Emirates has made a network-wide commitment to reduce single-use plastics on board its aircraft. As of 1 June, eco-friendly paper straws have been introduced and all Emirates flights will soon be plastic straw-free. The airline has b


Power purchases from Ace Power caused losses to CEB: JVP

Views - 70 Friday, 21 June 2019 00:00

Extending a power purchase agreement with Ace Power Embilipitiya Ltd. has led the Ceylon Electricity Board (CEB) to incur a considerable loss over the years, Opposition lawmaker Sunil Handunnetti held in the Parliament yesterday. Even though the agre


SGH Holdings Japan awards freight and logistics arm EFL for outstanding innovation

Views - 51 Friday, 21 June 2019 00:00

Japanese conglomerate and parent company SGH Holdings awarded EFL (Expolanka Freight) with the ‘Outstanding Performance Award’ for their transformative Robotic Process Automation (RPA) project at the recently completed Global Innovation Competiti


No plans to retake Sevanagala: Daya Gamage

Views - 58 Friday, 21 June 2019 00:00

By Ashwin Hemmathagama – Our Lobby Correspondent Tycoon-turned-politician, Primary Industries and Social Empowerment Minister Daya Gamage yesterday insisted he would not be resuming management of Sevanagala Sugar Industries even though the controve


Special offers at the Jaguar and Land Rover Open Weekend

Views - 57 Friday, 21 June 2019 00:00

SML Frontier Automotive, a member of the Access Group and sole agents for Jaguar Land Rover in Sri Lanka, will be hosting its ‘Jaguar Land Rover Open Weekend’ from 22-23 June from 9 am to 5 pm. Customers will be able to experience the unmatched d


Sri Lanka Association of Printers honours Immediate Past President Veerasamy Kumaran

Views - 17 Friday, 21 June 2019 00:00

A photograph of Sri Lanka Association of Printers Immediate Past President Veerasamy Kumaran was placed on the Wall of Honour at the secretariat by the Past Presidents Messrs.


Delegation from National Chamber of Exporters visits Oslo

Views - 56 Thursday, 20 June 2019 00:00

A trade delegation from the National Chamber of Exporters of Sri Lanka, which has a membership of over 850 export-oriented member companies, led by Secretary General and CEO Shiham Marikar, visited Oslo from 13 to 16 June. The delegation whic


Sagala attends 4th German-Asian Business Dialogue

Views - 25 Thursday, 20 June 2019 00:00

The fourth German-Asian Business Dialogue was held on 5 June at the Alliance Forum in Berlin. Chief of Staff of the Prime Minister and Minister of Ports and Shipping Sagala Ratnayaka, attended the Dialogue as a special guest and was a panellist at th


Today's Columnists

Soaring heights of NPLs in banking

Thursday, 27 June 2019

Capital inadequacy, political interference, abuse of power, wasteful and unproductive expenditure, corrupt deals, circumventions of regulatory directions, unscrupulous lending operations, imposed IMF and WB conditions for reforms, and window-dressed


New Land Policy: Ideal alternate development strategy, but accompanying policies needed

Thursday, 27 June 2019

It is reported that the Government has prepared a law to grant freehold possession of farm land held under lease from the Government. This may be a revision of the Land Development Ordinance (LDO) of 1935. This article proposes to discuss the pros a


Need for an education revolution: Future of our kids and the nation is at risk – Part II

Thursday, 27 June 2019

Lessons to be learnt from the Asian educational giants A journalist of New York Times requested Hideki Shirakawa, a Nobel laureate, to describe Japanese culture. He said, “Fundamentally, Japanese culture is based on rice farming. Rice cultivation r


Country’s reconciliation with English and Moragahakanda

Thursday, 27 June 2019

When the country received independence from British, it was blessed with an efficient administration, a high standard in education, and also sound foreign exchange reserves; the country was admired by other countries. The three major and several mino


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