Business

Pelwatte Dairy commissions new milk powder plant

Views - 9 Friday, 21 September 2018 00:00

Sri Lanka’s 100% local dairy manufacturer, Pelwatte Dairy Industries Ltd. (PDIL) recently further expanded its operations by commissioning a brand new milk powder plant within its factory complex in Buttala. Plant #03 commenced operations in May 2


Cabinet green lights JV with India for LNG power plant

Views - 9 Friday, 21 September 2018 00:00

By Chathuri Dissanayake Cabinet this week granted approval to Ceylon Electricity Board (CEB) to sign a joint venture (JV) with NTPC of India to set up the much-awaited 500MW liquefied natural gas (LNG) plant in Kerawalapitiya. The approval was grant


PwC Sri Lanka to hold Doing Business in Myanmar Forum on 26 September

Views - 9 Friday, 21 September 2018 00:00

PricewaterhouseCoopers (PwC) Sri Lanka announced today that it was co-organising the Doing Business in Myanmar Forum 2018 - which will be held on 26 September - together with its network firms PwC Singapore and PwC Myanmar. The event will highlight


S&D Chemicals wins Presidential Export Award for 2017/2018

Views - 6 Friday, 21 September 2018 00:00

S&D Chemicals Ltd. received the Presidential Export Award (highest foreign exchange earner for Chemical and Paint Sector) at the 22nd Presidential Export Awards organised by Sri Lanka Export Development Board (EDB) which was held on 18 September unde


Hemas Holdings appoints Prof. Nilanthi Renuka de Silva to Board

Views - 8 Friday, 21 September 2018 00:00

Hemas Holdings Plc has appointed Prof. Nilanthi Renuka de Silva to the Board as an Independent Non-Executive Director with effect from 1 October 2018. With the latest appointment, the Board of Hemas Holdings will comprise Chairman Husein Esufally, CE


Matuwagala Tea Factory establishes all-time record price

Views - 5 Friday, 21 September 2018 00:00

Matuwagala Tea Factory situated in Ratnapura, managed by Saman Upasena, achieved an all-time record price at the weekly tea auction of 18 September, by securing an attractive price of Rs. 1,015 per kg for OPA grade in the Low Grown category. The tea


TYE Solutions announces strategic partnership with Indian Institute of Drones

Views - 6 Friday, 21 September 2018 00:00

Pioneering integrated technology solutions provider, TYE Solutions announced a new partnership with the Indian Institute of Drones (IID) that will enable both organisations to collaborate in establishing a professional standard for drone operators in


PIM trains officers of tri-forces

Views - 7 Friday, 21 September 2018 00:00

The Postgraduate Institute of Management (PIM), as the nation’s management mentor, extended its services recently to the tri-forces in conducting a tailored program on leadership and management. 30 senior officers representing the tri-forces; army,


Asian firms’ confidence sinks to near three-year low on trade war fears

Views - 20 Thursday, 20 September 2018 01:29

JAKARTA (Reuters): Confidence among Asian companies slumped to the weakest in almost three years in the third quarter as businesses feared blowback from a worsening global trade war, a Thomson Reuters/INSEAD survey showed. Representing the six-month


Malik calls for more exports – the way forward for Sri Lanka

Views - 42 Thursday, 20 September 2018 01:29

His Excellency President Maithripala Sirisena, Hon. Ministers, Your Excellencies and Members of Diplomatic Missions, Secretary, Ministry of Development Strategies and International Trade, Chairperson and Chief Executive, EDB, distinguished invitees,


Govt. to carry out 3-day investment promotion mission in Germany next week

Views - 42 Thursday, 20 September 2018 00:49

By Charumini de Silva Development Strategies and International Trade Minister Malik Samarawickrama said the Government was undertaking a three-day investment promotion mission to Germany next week with a view to attract top German companies to set up


Shangri-La agreement not between GoSL and China: Malik

Views - 56 Thursday, 20 September 2018 00:48

The controversial Shangri-La Hotel project in Colombo is not a result of an agreement signed between the governments of Sri Lanka and China, Development Strategies and International Trade Minister Malik Samarawickrama confirmed to Parliament yesterda


Producers adulterating Ceylon tea: State Minister for Plantations

Views - 18 Thursday, 20 September 2018 00:48

By Ashwin Hemmathagama – Our Lobby Correspondent Adulterating the legendary Ceylon tea exported to 131 countries around the world has become a key issue, the Government confirmed at Parliament yesterday. The use of chemical substances such as ferro


Top German brands to boost Sri Lankan economy

Views - 205 Wednesday, 19 September 2018 00:00

More than 100 German brands were represented during the relaunch of the fifth edition of the ‘Top German Brands in Sri Lanka’ in the presence of Development Strategies and International Trade Minister Malik Samarawickrama, German Ambassador to Sr


CNCI submits views on SL-S’pore FTA to Presidential Commission

Views - 28 Wednesday, 19 September 2018 00:00

Ceylon National Chamber of Industries (CNCI) Chairman Raja Hewabowala stated in a media release that the CNCI has submitted their observations on the Sri Lanka Singapore Free Trade Agreement (SLSFTA) to the Committee of Experts appointed by President


Sri Lanka-Singapore Business Council elects Rohitha Mendis as President at 20th AGM

Views - 88 Wednesday, 19 September 2018 00:00

The 20th Annual General Meeting (AGM) of the Sri Lanka-Singapore Business Council of the Ceylon Chamber of Commerce was held recently at the Ceylon Chamber of Commerce – Boardroom electing Rohitha Mendis as the President. The AGM was attended by ov


Carriage by Air Bill gets approved by Parliament

Views - 39 Wednesday, 19 September 2018 00:00

By Ashwin Hemmathagama The Government received House approval for the Carriage by Air Bill and regulations under the Civil Aviation Act tabled yesterday in Parliament. The Carriage by Air Bill was moved by Transport and Civil AviationMinister Nimal


Airports Authority of India to develop Palaly airport

Views - 20 Wednesday, 19 September 2018 00:00

New Delhi: India’s state-owned airport authority has agreed to develop Palaly airport in Northern Sri Lanka and it will be the authority’s first project in the island nation. The Airports Authority of India (AAI) said in a release yesterday that


ICC India and ICCSL sign MOU

Views - 50 Wednesday, 19 September 2018 00:00

International Chamber of Commerce of Sri Lanka and the International Chamber of Commerce of India entered into an MOU with the objectives of a) promotion and expansion of trade and commerce b) enhancing cooperation and exchange of information and sem


Eran Wickramaratne addresses COYLE on ‘Enterprise Sri Lanka’

Views - 29 Wednesday, 19 September 2018 00:00

The Chamber of Young Lankan Entrepreneurs (COYLE) hosted a roundtable discussion at its monthly meeting with State Minister of Finance and Mass Media Eran Wickramaratne, who was joined by Cabinet Minister of Telecommunications and Digital Infrastruct


Online Govt. trade portal set to fail if structural problems go unchecked: Leading researcher

Views - 113 Tuesday, 18 September 2018 00:00

By Madushka Balasuriya  In July this year, Sri Lanka made one of the most progressive steps in its trade history when it launched the Sri Lanka Trade Information Portal (SLTIP). An initiative by the Department of Commerce, in collaboration with the


Ambassadors of UK, Norway, Germany, France, Netherlands and Switzerland to hold interactive evening

Views - 55 Tuesday, 18 September 2018 00:00

The Ceylon Chamber of Commerce (CCC) is to hold the second interactive session of its initiative titled Power of Interaction this Thursday, 20 September, with the aim of bringing together delegates of the European Union and the United Kingdom, in ord


National Chamber to host Vietnam Ambassador on 26 September

Views - 9 Tuesday, 18 September 2018 00:00

Vietnamese Ambassador to Sri Lanka Phan Thi Ngoc will be the Special Guest Speaker in ‘Meet the Ambassador’ program on ‘Bilateral Trade between Sri Lanka & Vietnam’ on Wednesday 26 September at the Chamber, from 3 p.m. to 4:30 p.m., No. 450 D


8 Lankan firms under EDB banner at Texworld/Apparel Sourcing Paris

Views - 45 Tuesday, 18 September 2018 00:00

Eight Sri Lankan companies are taking part under the Export Development Board (EDB) banner at Texworld/Apparel Sourcing Paris which commenced yesterday and will conclude on Thursday. The EDB organised the second Sri Lankan pavilion at the fair. The 4


India grants Rs. 300 m to set up 5000 MT cold storage in Dambulla to boost agriculture sector 

Views - 46 Tuesday, 18 September 2018 00:00

India and Sri Lanka signed a memorandum of understanding (MoU) yesterday for the construction of a 5000 MT temperature controlled warehouse in Dambulla, Central Province. The Indian grant assistance of Rs. 300 million will be utilised for this purpo


Qatar-Sri Lanka economic ties enter defining moment: Envoy

Views - 63 Monday, 17 September 2018 00:15

DOHA: Sri Lanka’s Ambassador to Qatar, A.S.P. Liyanage, has said the bilateral relations between Qatar and Sri Lanka in terms of trade, investment, tourism and other activities will be further bolstered by the launch of the Sri Lanka Qatar Business


Sri Lankan bazaar at Embassy of Sri Lanka, Amman, Jordan

Views - 29 Monday, 17 September 2018 00:00

The Embassy of Sri Lanka in Amman, Jordan organised a Sri Lankan bazaar at the Embassy premises from 7-8 September.


London’s newest tea bar retains MTI for strategy critique

Views - 55 Monday, 17 September 2018 00:00

MTI Consulting has been retained by Teatulia, the fast-growing niche organic tea brand in the USA and UK, to chart their strategic direction and to provide implementation support.


SLIM Diploma to empower NTB sales team once again

Views - 16 Monday, 17 September 2018 00:00

The Sri Lanka Institute of Marketing (SLIM) has partnered with Nations Trust Bank to offer the Diploma in Professional Selling (DPS) to the bank’s sales team.


Triad featured in Lürzer’s Archive 200 Best Illustrators Worldwide 2018/2019

Views - 23 Monday, 17 September 2018 00:00

Triad has been recognised as the only Sri Lankan agency in the largest creative resource globally, ‘Lürzer’s International Archive 200 Best Illustrators Worldwide 18/19’.


Today's Columnists

The rate of exchange, capital flight and the Central Bank

Friday, 21 September 2018

The Central Bank (CBSL) exists for the sole purpose of price stability. Its controls on the financial system and monetary policy exist to maintain price stability. As put forth many times by the Governor, the failing of the CBSL to control inflation


Red flag over the Sri Lankan Navy

Friday, 21 September 2018

Shocking story Rusiripala, a former banker in Sri Lanka, who has taken to writing in Daily FT, is perturbed by the red flag I have raised (Daily FT article 18 September) over the shocking charge that our Navy had operated a ransom gang that had abduc


The bald truth about fake news, etc.

Friday, 21 September 2018

In its most innocent forms, we may all enjoy a bit of ‘fake news’ and go to bed with a lighter heart and clean conscience. A meme on Facebook urging social media consumers to caution – “You can’t believe everything you read on the internet


Withholding Taxes – What, why, when?

Thursday, 20 September 2018

The tax regime in Sri Lanka historically imposes WHT on both domestic as well as cross border payments. WHT on domestic payments eases revenue collection (e.g.: PAYE) while WHT on cross border payments are adopted by most countries to ensure that the


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