Business

Overseas Realty records Rs. 4.4 b profit in 2019

Views - 59 Friday, 21 February 2020 00:00

Overseas Realty (Ceylon) Plc has concluded a noteworthy financial year, recording group revenue of Rs. 8,924 million, surpassing last year’s Rs. 6,785 million. Group profit after tax was Rs. 4,424 million for 2019, while its company revenue of Rs.


Lanka IOC inks agreement with CEAT Kelani International Tyres

Views - 43 Friday, 21 February 2020 00:00

Lanka IOC, the number one listed energy company, inked an agreement with Tyre Industry Giant and market leader M/s. CEAT Kelani International Tyres Ltd. for provision of bulk tankage facility and supplies of process oils in bulk. CEAT Kelani’s man


FITIS signs MoU with National Chamber

Views - 20 Friday, 21 February 2020 00:00

Federation of Information Technology Industry Sri Lanka (FITIS), as the apex body of the ICT sector in the country and the National Chamber of Commerce of Sri Lanka have recently signed a Memorandum of Understanding (MoU). Under this partnership, FIT


Abans offers best discounts at Mega Clearance Sale

Views - 81 Friday, 21 February 2020 00:00

Abans is giving the public the chance to enjoy unbeatable discounts on an extensive range of products from globally renowned and locally acclaimed brands. This mega clearance sale offers up to a massive 50% off on a vast variety of items and is bein


Huawei Marine to build new Maldives to Sri Lanka subsea cable

Views - 34 Friday, 21 February 2020 00:00

Huawei Marine Networks (HMN) has been awarded the contract to build a new subsea cable called the Maldives Sri Lanka Cable system (MSC). Once live, the new system will create a direct connection between the Maldives and Sri Lanka increasing regional


Sri Lanka misses total exports target in 2019

Views - 103 Wednesday, 19 February 2020 02:40

Sri Lanka’s merchandise and service exports have marginally increased by 1.4% to $16.14 billion last year, prompting the Government to attribute it to a series of development efforts and assure further support. Releasing the latest data, the Export


SLID and Matale District Chamber conducts program for SMEs

Views - 82 Wednesday, 19 February 2020 02:40

Small businesses in emerging markets generally rely heavily on a few talented people—most often the founders who dominate the decision-making process. The command-control system is common, strategic and operational decisions occur informally and th


EDB sets up help desk for customers

Views - 32 Wednesday, 19 February 2020 02:39

The Export Development Board has taken an initiative to enhance the efficiency and effectiveness of EDB services delivering satisfaction to all customers. The exporters, entrepreneurs and public alike will be assisted through the help desk on suppor


Sri Lanka represented at BIOFACH 2020 in Nuremberg, Germany

Views - 69 Wednesday, 19 February 2020 02:37

The Consulate General of Sri Lanka in Frankfurt assisted the Export Development Board in organising the Sri Lanka Pavilion at the world´s leading trade fair for organic food and natural beauty, BIOFACH 2020, in Nuremberg, Germany from 12-15 February


NCE provides opportunity for member exporters to have an edge in international markets

Views - 68 Wednesday, 19 February 2020 02:31

Strict adherence to standards that have been set for products and services in international markets, especially by Western countries, has become increasingly important. The attendant certifications related to these standards gives an edge to exporter


Ambiente 2020 impacted by coronavirus and Ciara

Views - 41 Wednesday, 19 February 2020 02:21

Trends, new products and international business – these were traditionally at the focus of Ambiente in Frankfurt, which took place from 7 to 11 February. The world’s largest consumer goods trade fair had grown to 4,635 exhibitors from 93 countri


Sri Lanka at world’s largest consumer goods show ‘Ambiente’

Views - 48 Wednesday, 19 February 2020 02:20

After five days charged with energy, the world’s leading trade fair closed its doors. Companies came to Ambiente from all over the world to present their products to the broadest possible international audience. A total of 4,500 exhibitors from 92


Minor impact on SL as Moody’s retain growth forecast

Views - 40 Wednesday, 19 February 2020 02:06

Moody’s forecast coronavirus to have a minor impact on Sri Lankan economy and that is too only in 2020.Nevertheless Moody’s has retained 3.3% GDP growth forecast for 2020 unchanged whilst for 2021 it is 4.4%. For the Maldives growth forecast has


Coronavirus to slow economic growth across Asia Pacific: Moody’s

Views - 30 Wednesday, 19 February 2020 02:06

Moody’s Investors Service yesterday said in a new report that the coronavirus outbreak adds to other pressures on growth in Asia Pacific, with the impact felt primarily through trade and tourism, and for some sectors also through supply-chain disru


‘Make a global decade of action for sustainable development’

Views - 109 Wednesday, 19 February 2020 02:06

United Nations Under-Secretary General and ESCAP Chief Prof. Armida Salsiah Alisjahbana says ESCAP is currently working with several countries in the region to develop country specific FDI sustainability indicators which can be used to prioritise, id


Coronavirus dents optimism just as global economy showed signs of stabilisation

Views - 15 Wednesday, 19 February 2020 02:05

The coronavirus epidemic creates new risks to the prospects of an incipient stabilisation of global growth this year resulting from a truce in the US-China trade war and emerging signs of a pickup in the industrial sector. Moody’s Investors Service


Global investors look to diversify portfolios amid coronavirus chaos

Views - 24 Wednesday, 19 February 2020 02:05

The outbreak of the coronavirus, coupled with record valuations in equity markets, has triggered a global sell-off of high-risk investments and a significant shift in sentiment among global investors. Accompanying the dip is a well-reported surge in


LIIN to host first Impact Investing Forum in Sri Lanka in partnership with GSG tomorrow

Views - 188 Tuesday, 18 February 2020 00:00

Lanka Impact Investing Network (LIIN), Sri Lanka’s only impact investing firm and co-founders of ‘Ath Pavura’, the first ever TV reality show promoting social entrepreneurship and impact investing, has joined hands with the Global Steering Grou


Jetwing Symphony reports Q3 FY 2019/20 results

Views - 35 Tuesday, 18 February 2020 00:00

Jetwing Symphony PLC recorded a revenue of Rs. 396 million for the quarter ended 31 December 2019. The revenue for the quarter decreased by 18% compared to the last financial year due to the decrease in expected tourist arrivals as a result of the Ea


Industrial Development Board opens food laboratory

Views - 98 Tuesday, 18 February 2020 00:00

Within the framework of the EU-Sri Lanka Trade Related Assistance Project, funded by the European Union (EU) and co-implemented by the United Nations Industrial Development Organisation (UNIDO) and the International Trade Centre (ITC), UNIDO is facil


Local economic growth through partnerships and value chain development through LEED+ model

Views - 44 Tuesday, 18 February 2020 00:00

The Chamber Academy of the Ceylon Chamber of Commerce has organised a knowledge sharing session, together with the International Labour Organisation (ILO), on the LEED+ project and its incentives to the private sector and local producers. The projec


CCI seminar on ‘Measures to Revive Domestic Construction Industry’ on 27 Feb.

Views - 26 Tuesday, 18 February 2020 00:00

A timely seminar has been organised by the Chamber of Construction Industry of Sri Lanka, the apex representative body of the construction industry, which will commence at 1.30 p.m on 27 February at the Sri Lanka Foundation Institute at Independence


DES Securities introduces CP PLUS Physical Security Solutions to Sri Lankan market

Views - 26 Tuesday, 18 February 2020 00:00

DES Securities Ltd., the modern trade physical security arm of the diversified LIMRA Holdings Group successfully concluded two celebrated launches which showcased the debut of CP PLUS Physical Security Solutions. The events which covered the Colombo,


HIP takes precautions against coronavirus

Views - 17 Tuesday, 18 February 2020 00:00

With the coronavirus epidemic becoming a serious cause for concern, the Hambantota International Port (HIP) has put in place several measures to ensure the safety of their staff, environment, and the general public. An Emergency Response Procedure is


Thailand stands ready to support Sri Lanka’s development, says Thai PM

Views - 91 Tuesday, 18 February 2020 00:00

Thailand Prime Minister Gen. Prayut Chan-o-cha recalling the strong bilateral ties between the two countries reassured the support of Thailand for Sri Lanka’s development efforts. He made these remarks when Ambassador Samantha K. Jayasuriya, Sri La


Amal Cabraal appointed Vice Chairman of Sunshine Holdings

Views - 69 Tuesday, 18 February 2020 00:00

Amal Cabraal has been appointed as the Vice Chairman of the Sunshine Holdings PLC with effect from 13 February. He has been serving the Sunshine Board since May 2017 as an Independent Director. The post of Vice Chairman is new at Sunshine Holdings.


Ambeon Group posts impressive 9-month results

Views - 166 Monday, 17 February 2020 01:38

Sri Lanka’s leading medium-sized conglomerate, Ambeon Holdings PLC has for the first nine months of FY20 recorded a Group revenue of Rs. 15.9 billion up by 18% from a year earlier. The Group increased its Profit before Tax (PBT) by 33% to Rs. 608 m


New Management Head at Lotus Towers assumes duties

Views - 70 Monday, 17 February 2020 01:37

Retired Major General Prasad Samarasinghe assumed duties as the Head of Management at the Lotus Tower on Friday (14 February). After his 35-year-long service in the Army, he served in the capacity of Chief of Staff of the Army until his retirement i


Commonwealth Enterprise and Investment Council Chairman visits Sri Lanka

Views - 39 Monday, 17 February 2020 01:37

Commonwealth Enterprise and Investment Council Chairman Lord Marland of Odstock was in Sri Lanka recently. He was felicitated during his visit by Chevalier Niranjan De S Deva Aditya, DL FRSA Member of the European Parliament (1999-2019) and UK Parli


Star Garment Group’s Innovation Centre wins 2020 AIA New York Merit Award for Sustainability

Views - 44 Monday, 17 February 2020 01:36

Star Garment Group (‘Star’), a leading global manufacturing company, announced that the company’s Innovation Centre has received the 2020 Merit Award Winner in the category of Sustainability from the AIA New York (AIANY). AIANY’s annual Desig


Today's Columnists

Withering of expectations and prospects of new ones

Friday, 21 February 2020

The election of Gotabaya Rajapaksa as President at the last Presidential Election can be said to have been the ultimate wish of the majority of Sinhala Buddhist people. Yet, the people were not aware that the President they were electing does not hav


Upsurge of populism

Friday, 21 February 2020

“Populism: denies the pluralism of contemporary societies. It promotes hostility to “enemies” and flirts with violence. It is generally gripped by a territorial mentality that prioritises borders and nation states against ‘foreigners’ and


Diplomatic drone strike, Indo-Lanka equation and constitutional change

Thursday, 20 February 2020

The ‘diplomatic drone strike’, the dramatic US strictures against the Army Commander, Lt. Gen. Shavendra Silva, tells us that Big Brother IS watching. This isn’t the usual suspects, its way out of their league. This is the Big League, the big b


Solar and wind power can resolve electricity crisis, early and cheaper, if allowed

Thursday, 20 February 2020

The country is facing the worst power situation in the history, with electricity generation being unable to meet the demand, with generation costs among the most expensive in the world. With the current scenario, the country cannot be expected to com


Columnists More