Business

OECD cuts growth outlook to post-crisis low

Views - 1 Monday, 23 September 2019 02:40

PARIS (Reuters): The trade war between the US and China has plunged global growth to its lowest levels in a decade, the OECD said last week as it slashed its forecasts. The Organisation for Economic Cooperation and Development said that the global ec


Lagarde urges policymakers to resolve manmade economic threats

Views - 1 Monday, 23 September 2019 02:40

WASHINGTON, AFP: Accustomed to being the first woman in influential leadership positions and speaking frankly to men in power, Christine Lagarde says manmade threats to the global economy can be “man-fixed”. Lagarde only last week left her post


Rating agency S&P Global says India’s corporate tax cuts ‘credit negative’

Views - 2 Monday, 23 September 2019 02:39

MUMBAI (Reuters): Rating firm S&P Global said on Friday India’s move to cut corporate tax rates was a “credit negative development” despite potentially boosting the economy as it will widen its fiscal deficit. The cuts are likely to “boost se


UAE expects 2.4% GDP growth in 2019: Central Bank

Views - 1 Monday, 23 September 2019 02:35

DUBAI (Reuters): The United Arab Emirates (UAE) expects its economy to grow 2.4% in 2019, driven by faster growth in the oil sector, the central bank said in a report yesterday. The economy grew 1.7% in 2018, according to preliminary data released by


UAE to invest $ 10 billion in Bangladesh

Views - 1 Monday, 23 September 2019 02:35

A number of UAE business groups are set to invest $ 10 billion (D 36.7 billion) into Bangladesh, according to data compiled by Bangladesh Economic Forum. The Forum will kick-off in Dubai on 15 September, with more than 300 government officials, busin


Taiwanese businesses look to India as alternative to China

Views - 1 Monday, 23 September 2019 02:35

NEW DELHI (Reuters): Taiwan is pitching India as a potential business destination to its tech, auto, renewable energy and farm sector firms as the United States’ trade war with China has pushed its companies to look for newer markets, two officials


Mitsubishi says Singapore-based oil trader lost $ 320 m in unauthorised trades

Views - 1 Monday, 23 September 2019 02:34

TOKYO/SINGAPORE (Reuters): Mitsubishi Corp, Japan’s biggest trading house by revenue, said on Friday a trader at its Singapore-based unit has lost $ 320 million through unauthorised transactions in crude oil derivatives, and the matter has been rep


Unilever and Sathosa award 3 prime plots and gold coins to ‘Sathosa Idam Nidhanaya Season 3’ winners

Views - 10 Saturday, 21 September 2019 00:10

The third phase of ‘Sathosa Idam Nidhanaya’ was recently concluded at JAIC Hilton, Colombo. A collaborative effort by Unilever Sri Lanka and local retail giant of consumer goods, Lanka Sathosa, the project aims at uplifting the lives of Sri Lanka


Mobitel Cash Bonanza illuminates Dehiattakandiya

Views - 11 Saturday, 21 September 2019 00:05

Enthrall winners with latest Mercedes Benz car and millions of cash prizes


Local experts offer insights on $480 m MCC compact projects

Views - 14 Saturday, 21 September 2019 00:00

The Advocata Institute on Thursday hosted a public forum on the MCC compact with the aim of separating fact from fiction around this hotly debated topic. Since 2015, Sri Lanka has been engaged in a competitive selection process for the Millennium Ch


Sampath Bank principal sponsor of ‘Swarna Pusthaka’ Awards ceremony for 9th consecutive year

Views - 13 Saturday, 21 September 2019 00:00

In light of Sampath Bank being the Principal Sponsor of the 2019 Swarna Pusthaka award for the ninth consecutive year, Sampath Bank Senior Deputy General Manager – Consumer Banking Tharaka Ranwala attended the event as the Guest of Honour. The ‘S


DFCC partners CNCI Achiever Award 2019 for second consecutive year

Views - 10 Saturday, 21 September 2019 00:00

DFCC Bank PLC, the ‘Bank for Everyone’, stepped up once again to partner with the Ceylon National Chamber of Industries (CNCI) as the principal sponsor and official banking partner of the CNCI Achiever Awards 2019. Held for the 18th consecutive y


Thai tourism guru Kalin Sarisin meets with Malik

Views - 59 Friday, 20 September 2019 00:00

Thailand and Federation of the Thai Chamber of Commerce Board of Trade Chairman Kalin Sarasin met with the Minister of Development Strategies and International Trade Malik Samarawickrama at the Ministry. The delegation comprised Ambassador of Thailan


Deloitte India President to keynote Most Admired Company Awards

Views - 60 Friday, 20 September 2019 00:00

The Most Admired Company Awards, organised by the International Chamber of Commerce, Sri Lanka (ICCSL), The Chartered Institute of Management Accountants (CIMA) Sri Lanka and the Daily FT, will be held on 25 September at 4.00 p.m. at the BMICH. Delo


Leading restaurateurs unite to serve up Colombo City Restaurant Collective

Views - 1614 Friday, 20 September 2019 00:00

As the restaurant, food and beverage sector demonstrates significant growth, Colombo’s restaurant owners, realising the importance of a shared voice, launched the Colombo City Restaurant Collective (CCRC) yesterday at The Stables at the Parks Stree


Asia Securities’ InsideTrack Series takes up ‘2020; Positioning for a Consumer Reboot’

Views - 73 Friday, 20 September 2019 00:00

Consumer spending is a key barometer of underlying growth in an economy. Approximately 65% of Sri Lanka’s GDP growth can be accounted for consumer spending, and the security events in April led to a temporary setback in an otherwise robust year for


Six Lankan garment manufacturers on show at Texworld Paris September edition

Views - 32 Friday, 20 September 2019 00:00

Texworld Paris, the undisputed leader when it comes to sourcing for fabrics, components, trimmings and materials for the clothing industry will showcase six Sri Lankan garment manufacturers at the September 2019 edition this week in Le Bourget, Paris


Indian industrialists vie multi-million Sri Lanka projects spurred by record Exim backing

Views - 63 Friday, 20 September 2019 00:00

Indian industrial investors are preparing for major investment moves in Sri Lankan projects – not only on mega-infrastructure ventures but even on smaller outlays. India’s powerful Confederation of Indian Industry (CII) has, for the first time, e


Malik says Govt. will not back down from economic reform efforts

Views - 28 Friday, 20 September 2019 00:00

By Charumini de Silva International Trade and Development Strategies Minister Malik Samarawickrama Wednesday said the Government is determined to bring in the necessary economic reforms to facilitate trade and investment. “We are not taking any ste


Ceylon Oxygen shines at National Occupational Health and Safety Excellence Awards

Views - 133 Friday, 20 September 2019 00:00

Ceylon Oxygen Ltd. (COL), a member of world-leading industrial gases and engineering company, Linde plc, was recognised for its dedication to occupational health and safety at the recently-concluded National Occupational Safety and Health Excellence


Fitch assigns SriLankan $175 m bond ’B’ Final Rating

Views - 32 Friday, 20 September 2019 00:00

Fitch Ratings has assigned a final ’B’ rating to SriLankan Airlines Limited’s (SLA) $175 million Government guaranteed 7% unsecured bonds due 25 June 2024. The final rating on the bonds is in line with the expected rating assigned on 19 June 2


Litro Gas Lanka clinches two NIOSH awards for exceptional HSE strategy and practice

Views - 14 Friday, 20 September 2019 00:00

Litro Gas Lanka, the largest importer and supplier of LP Gas in Sri Lanka received high honours at the recently-concluded National Occupational Safety and Health Excellence Awards (NIOSH) 2019 clinching two awards in light of the Company’s exceptio


DIMO, John Keells joint overall winners at CMA Excellence in Integrated Reporting Awards 2019

Views - 74 Friday, 20 September 2019 00:00

Diesel and Motor Engineering Plc and John Keells Holdings Plc emerged joint overall winners at the fifth CMA Excellence in Integrated Reporting Awards 2019 while bagging several other sector, merit and special awards at the event held on 9 September


CSE and GRI host third forum on sustainability reporting standards

Views - 20 Friday, 20 September 2019 00:00

The Colombo Stock Exchange together with the Global Reporting Initiative (GRI) held a workshop in Colombo last week to build awareness amongst listed companies on GRI Guidelines to enhance transparency and sustainability reporting. Over 120 companie


Resus Energy adds 3.1 MW to national grid with two new projects costing Rs. 680 m

Views - 139 Thursday, 19 September 2019 01:25

Established in 2003, Resus Energy PLC, one of Sri Lanka’s biggest players in the renewable energy industry has taken giant leaps with its investments and development of many projects across the island. While actively supporting the national effor


Manufacturing grows faster in Aug. but services see slower pace

Views - 66 Thursday, 19 September 2019 01:24

Manufacturing activities continued to expand at a higher rate in August 2019, recording an index value of 56.6 which is an increase of 0.9 index points, compared to July 2019 the Purchasing Managers Index (PMI) released by the Central Bank said yeste


Govt. targets $ 64 m earnings from ETC: Sagala

Views - 60 Thursday, 19 September 2019 01:22

By Ashwin Hemmathagama – Our Lobby Correspondent Increasing the container throughput, the Government aims to earn $ 64 million from the proposed Eastern Container Terminal (ECT) project, which will conclude by the end of next year, Ports and Shippi


Ritzbury honoured with Sri Lanka’s highest quality award

Views - 42 Thursday, 19 September 2019 01:21

Ritzbury, Sri Lanka’s number one chocolate brand manufactured by CBL Food International Ltd., received the highest possible quality accolade winning the prestigious National Quality Award 2018 in Large Scale Manufacturing category recently. Organis


‘Production Process Improvement and Market Penetration Program’ in India

Views - 25 Thursday, 19 September 2019 01:19

The Sri Lanka Export Development Board (EDB) in collaboration with the Sri Lanka Consulate in Mumbai, India organised a group of 11 potential SME entrepreneurs to participate in a ‘Production Process Improvement and Market Penetration Program’ co


Advocata to host public discussion on MCC Compact today

Views - 37 Thursday, 19 September 2019 01:18

The Advocata Institute will be hosting a panel discussion titled ‘MCC Givisuma Gaena Aeththa Naeththa’ (MCC Compact: Facts and Falsehoods) on Thursday 19 September from 6.00 p.m. onwards at the Lighthouse Auditorium and Lawns, Lakshman Kadirgamar


Today's Columnists

The real cost of dengue

Monday, 23 September 2019

Rainy season not only brings much-needed water to Sri Lanka, but also an increase in mosquitoes and thus: dengue. As in many southern countries, Sri Lanka faces the challenge of controlling this mosquito-borne disease. Up to September 2019, the Epide


State of the economy of Sri Lanka

Saturday, 21 September 2019

I am not an economist nor do I profess to be an economic analyst. The views expressed in this presentation are those of a layman who has always been interested in the economic progress of Sri Lanka.


Premadasa, Père et Fils

Saturday, 21 September 2019

We are what time, circumstances and history has made of us. We are trapped in history. At age 77, I refuse to trap history in my mind. This essay is an obligation to history. Although J.R. Jayewardene introduced ‘Executive Presidentialism’, coer


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