Business

CBL Group recognised among ‘Top 10 Best Corporate Citizens’ in Sri Lanka

Views - 1 Tuesday, 18 December 2018 01:21

CBL Group, one of Sri Lanka’s largest FMCG conglomerates which manufactures a range of food products under the brand names of Munchee, Ritzbury, Lanka Soy, Tiara, Samaposha and Sera was recently ranked as one of the ‘Top Ten Best Corporate Citize


EDB to participate in upcoming Paperworld 2019

Views - 1 Tuesday, 18 December 2018 01:17

The Export Development Board (EDB) is organising a national pavilion at the Paperworld, the international trade fair for paper, office supplies and stationery. It is sharpening its focus on ‘the visionary office’ and ‘the stationery trends’ w


Dynasty Residence promoter GVR Lanka clarifies report on legal action against Sanken

Views - 1 Tuesday, 18 December 2018 00:20

In response to the Daily FT article published on Friday, 14 December, GVR Lanka has sent the following clarification. GVR Lanka denies the release of this article under the aforesaid caption ‘GVR Lanka sues Sanken for violating build contract in r


Appointment of proposed IRD head cancelled

Views - 1 Tuesday, 18 December 2018 00:14

Subsequent to two Writ Petitions, the Cabinet of Ministers cancelled the impugned appointment of Central Bank Deputy Governor C.J.P. Siriwardena as the Commissioner General of Inland Revenue. Senior State Counsel Kanishka Balapatabendi informed the C


Southern Province Best Entrepreneur Award Ceremony 2018

Views - 223 Monday, 17 December 2018 01:45

The Southern Province Best Entrepreneur Award Ceremony was held on 11 December at the Grand Navro Hotel in Matara. The event was organised by the National Enterprise Development Authority (NEDA), in collaboration with the Hambantota District Chamber


Kelani Cables conferred with two Silver awards at the SLIM Brand Excellence 2018

Views - 14 Monday, 17 December 2018 01:43

Kelani Cables Plc, Sri Lanka’s number one brand in secure electrical and communication cables, bagged two Silver awards at the 17th edition of the SLIM Brand Excellence 2018 held at Shangri-La, Colombo. The ‘CSR Brand of the Year’ and ‘B2B Br


NLH Holdings invests Rs. 1.2 b for Glisten Rise Residencies

Views - 44 Monday, 17 December 2018 01:40

NLH Holdings Ltd. broke ground for their second apartment complex, Glisten Rise Residencies at old Chilaw Road, Negombo last Saturday. NLH Holdings Chairman Duminda Mayadunna said that they will invest Rs. 1.2 billion for this project, which would be


Markets to welcome end of political standoff?

Views - 18 Monday, 17 December 2018 01:02

The UK’s The Guardian newspaper yesterday quoted Hasnain Malik, the head of equity research at Exotix Capital, as saying markets would welcome the end of the standoff. “But it also means a return to the political paralysis which has held back gr


Sri Lanka tea showcased at Saudi-Horeca 2018 Exhibition

Views - 15 Monday, 17 December 2018 00:48

The Sri Lanka Tea Board and Sri Lankan tea exporters showcased “Ceylon Tea” at the Saudi-Horeca 2018 Exhibition, held at the Riyadh International Convention & Exhibition Centre (RICEC) from 27 to 29 November. This was the 8th chapter of Horeca e


Manufacturing and services slowdown in November

Views - 57 Monday, 17 December 2018 00:47

The latest Purchasing Managers Index (PMI) released by the Central Bank on Friday showed a slowdown in manufacturing activities in November when compared with the previous month while the services sector also reduced to the lowest point since May 201


Europe must fight illiberal forces, Draghi warns

Views - 4 Monday, 17 December 2018 00:00

PISA, Italy (Reuters) - The spread of illiberal ideology is threatening the euro but it is an illusion that leaving it would offer an easier path, European Central Bank President Mario Draghi said on Saturday. Warning that a half-finished monetary un


Qatar Petroleum to invest $20 b in US in major expansion

Views - 17 Monday, 17 December 2018 00:00

DOHA (Reuters) - Qatar Petroleum (QP) is looking to invest at least $20 billion in the United States over the coming few years, its chief executive told Reuters, after the Gulf Arab state quit OPEC, freeing Doha from potential legal risks in the Unit


US consumer spending strengthening in boost to economy

Views - 11 Monday, 17 December 2018 00:00

WASHINGTON (Reuters) - U.S. consumer spending gathered momentum in November as households bought furniture, electronics and a range of other goods, which could further allay fears of a significant slowdown in the American economy even as the outlook


RBI coup a sign of Modi’s authoritarian ways

Views - 14 Monday, 17 December 2018 00:00

NEW DELHI (Reuters) - When Reserve Bank of India (RBI) governor Urjit Patel abruptly resigned last week, it stunned many people in government and business circles. Patel’s decision, which came after months of bad blood between the central bank and


Sebastian Saw Mill celebrates golden anniversary

Views - 12 Saturday, 15 December 2018 00:08

One of the oldest saw mills in Moratuwa, St. Sebastian Saw Mill & Timber Depot celebrated its 50th anniversary recently and has strong plans to expand its activities in the future. St. Sebastian Group now under the third generation is headed by Manag


ComBank empowers micro entrepreneurs in Kuliyapitiya with Financial Literacy Program

Views - 11 Saturday, 15 December 2018 00:06

A group of 100 farmers from the Kuliyapitiya area were the latest beneficiaries of a Financial Literacy Program conducted by Commercial Bank of Ceylon in collaboration with Central Bank of Sri Lanka recently for micro entrepreneurs. This was the nint


‘Tis the season for Emirates Festive Offerings

Views - 8 Saturday, 15 December 2018 00:04

Emirates is bringing Christmas joy to the skies this December with a delicious festive menu on select flights and nostalgic films on board. Customers travelling for the holidays in December will enjoy several Christmas specials across all cabin class


APTS wins Service Sector Entrepreneur Award at Western Province Entrepreneur Awards 2018

Views - 15 Saturday, 15 December 2018 00:03

Asia Pacific Technology Systems Ltd. proved its excellence once again by receiving the title ‘Entrepreneur of the year 2018 Merit Award’ in the service sector, large category at the ‘Entrepreneur Awards 2018 – Western Province’ organised by


Pannipitya Private Hospital to provide Suraksha benefits real-time to school children

Views - 8 Saturday, 15 December 2018 00:02

Pannipitya Private Hospital has made arrangements to provide treatment sans cash payments to all schoolchildren who own Suraksha Insurance cards. Schoolchildren islandwide with Suraksha medical insurance could obtain treatment from private hospitals


GVR Lanka sues Sanken for violating build contract in respect of Dynasty Residence

Views - 543 Friday, 14 December 2018 00:00

The Commercial High Court issued an Notice of Interim Injunction against well-known construction giant Sanken Construction Ltd., requesting Sanken to appear and reason why an Interim Injunction should not be issued against it, preventing Sanken from


Ath Pavura wins big at SLT ZeroOne Awards 2018

Views - 60 Friday, 14 December 2018 00:00

Ath Pavura, one of Sri Lanka’s top 5 most viewed reality TV series that encourages social entrepreneurship and impact investing won two key awards at the recently concluded ZeroOne Digital Marketing awards presented by Sri Lanka Telecom; namely: Th


Commercial High Court issues summons for charge of contempt of court against Mascons Ltd. Directors

Views - 175 Friday, 14 December 2018 00:00

The Commercial High Court of Colombo recently issued summons for the charge of contempt of court against the Directors of Mascons Ltd: Sivamohan Sathiamoorthy, Sathiamoorthy Subramaniam, Sashitharan Ganeshan, and Sathiamoorthy Hari Darshan. The Petit


Commercial High Court issues enjoining orders against Fentons ex-employee

Views - 80 Friday, 14 December 2018 00:00

The Commercial High Court of Colombo, on an application made before it on 10 December, issued an enjoining order against Manutha Akuretiyaa, a former employee of Fentons Ltd, for engaging in unfair competition in terms of the Intellectual Property Ac


Browns continues winning streak at National Business Excellence Awards 2018

Views - 15 Friday, 14 December 2018 00:00

Brown and Company PLC, one of Sri Lanka’s leading conglomerates, once again walked away with the Runner-up Award in the Trading category at the recently concluded National Business Excellence Awards 2018 held at the Hilton Colombo. With a legacy sp


It’s a SIX for McLarens Group of Companies at the National Business Excellence Awards 2018

Views - 25 Friday, 14 December 2018 00:00

Reaffirming its dominance for excellence of its business practices, the McLarens Group, one of the country’s largest diversified conglomerates won multiple awards at the National Business Excellence Awards 2018 (NBEA) which was held at the Hilton C


SL has slipped but will bounce back by 2020: Rohantha Athukorala

Views - 27 Friday, 14 December 2018 00:00

Sri Lanka has not only been downgraded by international rating agencies Moody and Fitch but has also slipped in the Nation Brand rankings from 59 to 61 this year, said Head of Turner Investment Inc for South Asia, Dr. Rohantha Athukorala. “Whilst


Textrip wins NCE Silver Award

Views - 9 Friday, 14 December 2018 00:00

Textrip Ltd., a subsidiary of the Elasto Group of Companies which has a proud history of 70 years in the rubber industry, recently won Silver at the NCE Awards 2018 organised by the National Chamber of Exporters (NCE) of Sri Lanka. The late Donald Gu


NCE leads delegation to Australia on business promotion

Views - 16 Friday, 14 December 2018 00:00

The National Chamber of Exporters of Sri Lanka (NCE), the only private sector Chamber which exclusively serves Sri Lankan exporters, took a delegation of Sri Lankan exporters to Melbourne, Australia, led by NCE Secretary General Shiham Marikar, from


Wood Based Industrialists’ Association holds AGM

Views - 20 Friday, 14 December 2018 00:00

The Wood Based Industrialists Association (WBIA) held its Annual General Meeting (AGM) for the year 2017-2018 on 1 December at Grand Monarch Hotel, Thalawathugoda. WBIA was formed in 2007 by a visionary group of seven entrepreneurs connected to the w


Hayleys strikes gold with 12 awards at CA Sri Lanka Annual Report Awards 2018

Views - 32 Thursday, 13 December 2018 00:20

The Hayleys Group recorded a stellar performance at the CA Sri Lanka’s 54th Annual Report Award Ceremony held on 4 December at the Shangri-La Hotel Colombo receivinga total of 12 awards, including an outstanding eight Gold Awards in addition to bei


Today's Columnists

Tweaking the New Inland Revenue Act (Part II)

Tuesday, 18 December 2018

In the backdrop where the recent amendment to the country’s supreme law is called in question, it may be appropriate to recall that the passage of the new Inland Revenue (IR) Act through Parliament was far more controversial. Nevertheless, the new


Advancing gender parity in Sri Lanka

Tuesday, 18 December 2018

Asia-Pacific today is a true engine of growth in the world—a region that has barely tapped its potential to develop, invest, and innovate. But as the region speeds ahead, the dynamics of its workforce, one that was predominantly male in the past, i


Things to do in a Democracy when you’re dead…

Tuesday, 18 December 2018

In yesterday’s column, I argued a case for not impeaching the chief executive of the coup that has left our country situation in ruins. At the end of a pitched battle between the forces of unconstitutional ambition on one hand and democratic resist


What’s next after the Supreme Court decision?

Tuesday, 18 December 2018

Last Thursday, just before the courts closed for Christmas holidays, the Supreme Court, sticking strictly to a legalistic path, put an end to the controversial issue of defining the powers of President Maithripala Sirisena, leaving the nation to wres


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