Business

Fashion Bug shoppers can now just shop, tap and go, thanks to ComBank

Views - 25 Saturday, 22 December 2018 00:00

Shoppers at 15 Fashion Bug outlets can now get onboard with the trendiest ‘tap and go’ technology, thanks to Near Field Communication (NFC) enabled point-of-sale (POS) terminals installed at these outlets by the Commercial Bank of Ceylon. They c


BOC launches special GMOA Affinity World Master Card for medical officers in Sri Lanka

Views - 71 Saturday, 22 December 2018 00:00

Together with Master Card International, Country’s No. 1 Bank, Bank of Ceylon jointly launched the GMOA Affinity – World Master Card for the members of the Government Medical Officers Association (GMOA). The ceremony took place at the Bank of Ce


Uber rolls out Insurance and Safety Toolkit in SL

Views - 80 Friday, 21 December 2018 00:00

By Divya Thotawatte Celebrating three years in Sri Lanka, Uber, the world’s largest on-demand ride-sharing company launched a Global Safety Toolkit and a first-of-its-kind insurance program this week serving the riders and driver partners in Colomb


No breakthrough for planters on Collective Agreement

Views - 60 Friday, 21 December 2018 00:00

By Charumini de Silva Planters lamented that there is no breakthrough yet from the Collective Agreement discussions, with trade unions’ demands for a Rs. 1000 daily wage continuing for almost for a month and the industry’s losses topping over Rs.


Meditextile wins NBE Award

Views - 25 Friday, 21 December 2018 00:00

Meditextile Ltd. made history by receiving a coveted Business Excellence Award at the National Business Excellence Awards 2018 ceremony organised by the National Chamber of Commerce Sri Lanka. Meditextile Ltd. is an ISO 9001-2008 certified healthcar


Steered by JLanka Technologies, Jafferjee Brothers make waves with latest half cell technology

Views - 165 Thursday, 20 December 2018 01:32

Sri Lanka’s leader in next generation energy technologies and Solar PV Systems, JLanka Technologies continues to disrupt the country’s conventional energy industry by having taken on a remarkable journey alongside one of Sri Lanka’s leading bus


Hayleys 140th anniversary stamped!

Views - 69 Thursday, 20 December 2018 01:18

Approaching the conclusion of its 140th year of business in Sri Lanka, leading diversified multinational conglomerate Hayleys PLC yesterday announced the launch of a limited edition commemorative stamp, in celebration of nearly a century and a half o


CCC and ILCCI to organise business delegation to attend Partnership Summit 2019 in Mumbai

Views - 27 Thursday, 20 December 2018 00:33

The Ceylon Chamber of Commerce (CCC) in association with the Indo Lanka Chamber of Commerce and Industry (ILCCI) will be organising a high powered business delegation to attend the 25th edition of Partnership Summit 2019, from 12 to 13 January 2019 i


More teeth for Presidential Commission probing SriLankan and Mihin Air

Views - 311 Thursday, 20 December 2018 00:10

President Maithripala Sirisena has conferred additional powers on the SriLankan Airlines/Mihin Air Commission, to enable it to obtain the bank account details of persons under investigation by the Commission, as well as the bank details of their spou


Sritrims celebrate 22nd anniversary

Views - 32 Thursday, 20 December 2018 00:00

Sritrims, a member of the Speed Group of Companies, was established 22 years ago, in 1996. A wholly Sri Lankan owned company, Sritrims is a key manufacturer and supplier of apparel and fashion accessories to internationally renowned brands across the


Hayleys Advantis unveils Sri Lanka’s largest distribution hub

Views - 904 Thursday, 20 December 2018 00:00

Hayleys Advantis Ltd. recently ceremonially unveiled Sri Lanka’s largest distribution hub – Advantis 3PL Plus Logistics City – in Kotugoda, Ja-Ela. This is part of the company’s strategic capacity building and expansion efforts aimed at servi


Ceylon Chamber facilitates efficient document approval process for exporters

Views - 344 Wednesday, 19 December 2018 00:00

A Memorandum of Understanding was signed between the Ceylon Chamber of Commerce and the Ministry of Foreign Affairs (MoFA) last week, for the certification of export related documents through the electronic Document Attestation System (e-DAS) of the


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 - 23 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 - 49 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 - 83 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 - 356 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 - 358 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 - 33 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 - 110 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 - 32 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 - 25 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


Today's Columnists

Unless addressed, wages issue will keeping troubling Bangladesh’s garment industry

Saturday, 19 January 2019

The recent week-long mass protests by garment workers in Bangladesh came to an end after an upward revision of wages for six classes of workers. But even after the upward revision, the Bangladeshi garment worker gets less than what workers in compara


Is GDP the ideal metric of the future?

Friday, 18 January 2019

In an age of stark contradictions, we live in a world where the exclusive 1% enjoy access to an abundance of wealth and resources but also a world where a billion people scarcely have enough to eat and have limited access to health and education. Whi


Evaluation of economic performance: 4 years into Yahapalana Government

Friday, 18 January 2019

The Yahapalana Government completed four years on 8 January this year. The four-year journey was a rough ride with a clear rift between the President and the UNP; the ruling party. The Government continues to face severe criticism from both inside an


Elimination of bribery and corruption

Friday, 18 January 2019

Bribery and corruption can be regarded as a malicious cancer that has penetrated into almost every strata of Sri Lankan state. It can be considered a major factor affecting Sri Lanka’s poverty, backwardness and indebtedness. Abuse of power by thos


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