Business

Bond scam suspects further remanded till 1 January

Views - 34 Wednesday, 19 December 2018 00:00

The Colombo Fort Magistrate Court yesterday extended the remand of Perpetual Treasuries Ltd. director Arjun Aloysius and CEO Kasun Palisena, who are in remand custody over the bond scam charges. The Fort Magistrate Lanka Jayaratne ordered to further


Crown Royal Security Services bags two awards at National Business Excellence Awards 2018

Views - 25 Wednesday, 19 December 2018 00:00

The Crown Royal Security Services Ltd (CRSSPL) has won the Excellence in Business and Financial Results Winner in the large category as well as Merit Award for Other Services at the National Business Excellence Award 2018, organised by The National C


Beehive Industries felicitated at the Presidential Awards

Views - 41 Wednesday, 19 December 2018 00:00

The Presidential Awards organised by the National Jem and Jewellery Authority of Sri Lanka presented Beehive Industries with the Gold award for the best gem re-exporter of the year. The awards ceremony was held under the patronage of President Maithr


SME business leaders recognised for commitment to excellence

Views - 22 Wednesday, 19 December 2018 00:00

Sri Lankan businesses that completed a Small and Medium Enterprise (SME) Management Development Training Program to help strengthen managerial and technical skills were recognised at an event held in Colombo last week. Facilitated by the United Stat


EDB to participate in upcoming Paperworld 2019

Views - 48 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 - 82 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 - 620 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


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

Views - 353 Tuesday, 18 December 2018 00:08

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


Southern Province Best Entrepreneur Award Ceremony 2018

Views - 351 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 - 32 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 - 102 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 - 31 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 - 62 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 - 81 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 - 16 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 - 39 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 - 24 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 - 30 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 - 25 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 - 24 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 - 15 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 - 27 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 - 28 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 - 628 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 - 76 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 - 229 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 - 183 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 - 27 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 - 44 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 - 41 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


Today's Columnists

Politicians and cricketers: Expected role, selection and performance evaluation (Part 2)

Thursday, 17 January 2019

Before commenting on the selection process, it is better to understand the ground realities and the nature of the beasts. Sri Lanka has a good theoretical education system. This system prompts students to ‘Cram-Remember-Express’ or ‘Read-Rememb


Open letter to M.A. Sumanthiran, MP

Thursday, 17 January 2019

Happy Pongal, Mr Sumanthiran! You and I are from two very different generations. In fact you belong to my uncle’s generation (sadly I don’t get along very well with my uncle). You are a child of the ’70s. I’m a child of the 90s. In a more tex


Why Gota gave me a ‘Gotler’ feeling

Wednesday, 16 January 2019

Bourgeoisie venues It is no accident that presidential-candidate hopeful Gotabaya Rajapaksa holds his Viyathmaga meetings in bourgeoisie spots. Once, it had been Shangri-La. Last Saturday, 12 January, it had been Waters Edge. Gota’s speech offered


A lie is also a truth

Wednesday, 16 January 2019

Gotabaya Rajapaksa is a determined contender for the presidency. His trenchant lecture to activists of the Viyathmaga forum demonstrated the man’s spiritedness and impulse to act. He is a driven man. What drives him?


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