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JIA commences commercial flight operations

Views - 18 Tuesday, 12 November 2019 00:00

The Jaffna International Airport (JIA) yesterday commenced international commercial flight operations, with its inaugural flight initiated by Alliance Air. The subsidiary of Air India will operate weekly flights from Jaffna to Chennai, Airport and A

Sirisena defends decision to issue presidential pardon

Views - 27 Tuesday, 12 November 2019 00:00

The presidential pardon of convicted Royal Park murderer Don Shramantha Jude Anthony Jayamaha was given following multiple appeals made by religious leaders, lawyers and former judges, the Presidential Secretariat said yesterday, defending President

AKD asks President to reconsider Royal Park convict pardon

Views - 17 Tuesday, 12 November 2019 00:00

National People’s Power (NPP) candidate Anura Kumara Dissanayaka yesterday called on President Maithripala Sirisena to reconsider the pardon granted to Jude Shramantha Jayamaha, the convict in the Royal Park murder case and requested the Attorney G

No documents at EC confirming GR citizenship, says former Minister

Views - 49 Tuesday, 12 November 2019 00:00

The Election Commission (EC) has not received any documentation to support assertions by SLPP presidential candidate Gotabaya Rajapaksa that he has renounced his US citizenship, a former minister claimed yesterday. Milroy Fernando, who served as a mi

Moody’s cuts global sovereign rating outlook to ‘negative’ for 2020

Views - 17 Tuesday, 12 November 2019 00:00

REUTERS: Rating agency Moody’s cut its global sovereign outlook for 2020 to ‘negative’ from ‘stable’ on Monday, saying disruptive and unpredictable world politics would slow growth and increase the risk of economic or financial shocks. Mood

Sunshine Energy opens third hydropower plant

Views - 30 Tuesday, 12 November 2019 00:00

Sunshine Energy Ltd. (SEL), a fully-owned subsidiary of Sri Lanka’s diversified conglomerate Sunshine Holdings Plc, opened its third hydropower plant Elgin recently in the town of Lindula in the Central Province. Sunshine Energy’s Elgin plant wi

UNP outlines Sajith’s tax concessions

Views - 40 Tuesday, 12 November 2019 00:00

The United National Party (UNP) yesterday outlined broad tax concessions to foster local industries and make the economy more competitive if New Democratic Front (NDF) presidential candidate Sajith Premadasa was elected. Speaking to the media at the

Yahapalanaya concludes with Cabinet curtain call

Views - 53 Tuesday, 12 November 2019 00:00

By Chandani Kirinde Old hostilities were set aside yesterday as President Maithripala Sirisena presided over his last Cabinet meeting, with Prime Minister Ranil Wickremesinghe and other ministers thanking him for restoring democracy. Wickremesinghe,

Sampath Bank’s Net Interest Income increases by 13.4% in first 9 months of 2019

Views - 292 Monday, 11 November 2019 00:42

In results released to the Colombo Stock Exchange, Sampath Bank announced that its Net Interest Income recorded an encouraging growth of 13.4% for the nine months ended 30 September over the figure reported for the corresponding period in 2018.

Singer Group posts Rs. 27.1 b 1H revenues

Views - 264 Monday, 11 November 2019 00:38

The Singer Group reported consolidated revenues of Rs. 27.1 billion for the first half which ended 30 September 2019 and Company Singer (Sri Lanka) PLC which is the main marketing arm of the Group recorded Rs. 22 billion for same period which is 3% a

LOLC Group’s Browns Investments signs historic agreement with Spain’s Barceló Group

Views - 445 Monday, 11 November 2019 00:37

LOLC Group’s subsidiary company, Browns Investments PLC, signed an agreement with the Barceló Hotel Group last week to develop a complex of three hotels in North Malé Atoll, Maldives and to manage five leisure properties of Browns Hotels and Reso

SL targets MENA boost via World Expo 2020 in Dubai

Views - 118 Monday, 11 November 2019 00:33

Sri Lanka aims to boost exports to the Middle East and North Africa, along with investments and tourists from the region, through its participation in the World Expo 2020 in Dubai, in the United Arab Emirates.

Economic sentiment improves: Survey

Views - 209 Monday, 11 November 2019 00:33

Sentiment surrounding the economy improved in October, according to the latest LMD-Nielsen Business Confidence (BCI) poll with a third of respondents expecting economic conditions to improve in the next 12 months.

President to chair his final Cabinet meeting today

Views - 221 Monday, 11 November 2019 00:32

President Maithripala Sirisena will preside over his final Cabinet meeting today before his term in office concludes with the election of a new President next week. The Cabinet meeting has been scheduled for today as tomorrow is a Poya day.

Hayleys Group delivers improved performance in 2Q

Views - 135 Monday, 11 November 2019 00:31

The Hayleys Group, Sri Lanka’s most diversified conglomerate, posted improvements in turnover, operating performance and overall profitability during the second quarter of 2019/20 supported by the strong performance of its export businesses.

Historic $ 608 m One Galle Face mall opens

Views - 7171 Saturday, 9 November 2019 03:00

Shangri-La yesterday ceremoniously opened Sri Lanka’s first internationally developed and managed mixed-use project, the $ 608 million One Galle Face Mall, which is also the Group’s biggest venture in South Asia.

Alliance Air to start direct flights to Jaffna from Monday

Views - 779 Saturday, 9 November 2019 02:59

Alliance Air, a wholly owned subsidiary of Air India is all set to expand globally and commence commercial flight operations from Jaffna International Airport to Chennai International Airport from 11 November.

Commonwealth law ministers resolve to take action on access to justice

Views - 102 Saturday, 9 November 2019 02:56

Commonwealth law ministers have unanimously resolved to remove barriers to access to justice in their respective countries, and to deliver Sustainable Development Goal 16 on peace, justice and strong institutions by 2030.

Boosting tourism, IT, FDI key to 6.5% growth: Cabraal

Views - 445 Saturday, 9 November 2019 02:53

Development of tourism, IT, and construction industries, coupled with stronger foreign direct investment (FDI), can boost growth to the ambitious 6.5% target outlined by the Sri Lanka Podujana Party’s (SLPP) manifesto, former Central Bank Ajith Niv

Contract to supply SriLankan Airlines aviation fuel awarded to 12 airport locations

Views - 185 Saturday, 9 November 2019 02:52

Cabinet this week gave approval to award the contract for the supply of aviation fuel for SriLankan Airlines at 12 airport locations worldwide, in order to maintain the services of the airline.

Stocks, rupee gain; polls awaited

Views - 158 Saturday, 9 November 2019 02:52

Shares edged higher on Friday, snapping a four-day losing streak, as investors picked up banking and beverage shares ahead of the presidential vote on 16 November.

Siemens India and DIMO get Rs. 4.6 b power project

Views - 454 Saturday, 9 November 2019 02:46

Cabinet approval was given on Tuesday to award the contract for setting up of primary substations, distribution substations and cable construction under a national power improvement project to a joint venture of Siemens Limited, India, and DIMO Ltd.

Sajith hints at new PM if elected

Views - 941 Friday, 8 November 2019 00:30

New Democratic Front (NDF) presidential candidate Sajith Premadasa yesterday reiterated that he would appoint a new prime minister who could command a majority in Parliament if he was elected to office.

Sri Lanka Tourism celebrates big win by Santani at WTM

Views - 465 Friday, 8 November 2019 00:20

Santani Spa and Resorts won the Gold award for Best in the World for wellness at a celebrity event held at London’s Brand new venue Magazine on 5 November. The Sri Lanka Tourism Promotions Bureau celebrated this massive accolade for Sri Lanka

Expolanka announces Q2 financials, credits business agility and core focus

Views - 217 Friday, 8 November 2019 00:18

Presenting its results for the second quarter of the financial year yesterday, Expolanka PLC announced that it was on a sustainable growth path despite a global environment that continues to be challenging for business. The company once more credite

SriLankan Airlines forges ahead with Business Turnaround Plan

Views - 1680 Friday, 8 November 2019 00:15

SriLankan Airlines has made significant progress in its efforts to become a sophisticated customer-centric airline intent on achieving financial success, by implementing a wide-ranging Turnaround Plan under the leadership of its Board of Directors wi

SriLankan Airlines in codeshare with Air India to serve Toronto

Views - 292 Friday, 8 November 2019 00:13

SriLankan Airlines is taking a firm step towards further increasing travel connectivity between Sri Lanka and Canada. SriLankan Airlines commences codeshared non-stop services between Toronto and New Delhi with long standing partner Air India, provid

Abans revs up auto biz with Hyundai

Views - 1132 Friday, 8 November 2019 00:10

Abans is stepping up efforts to boost its automobile business with a key agency deal with global giant Hyundai, rolling out multi-million-rupee investments for modern showrooms, service centres and other benefits to customers. An ultra-modern first-o

Biz confidence climbs to 8-month high

Views - 328 Friday, 8 November 2019 00:08

The LMD-Nielsen Business Confidence Index (BCI) recorded an increase of 12 basis points to register 102 in October. The leading business magazine notes that this represents the highest the index has been since February. Nielsen’s Managing Director

US looking forward to $ 480 m MCC approval

Views - 296 Thursday, 7 November 2019 01:15

The United States yesterday said it was looking forward to the implementation of the $ 480 million Millennium Challenge Corporation (MCC) Compact with the Sri Lankan Government following the 16 November Presidential Election and due parliamentary app

Today's Columnists

Why NPP for minorities and the nation?

Tuesday, 12 November 2019

The two minority communities, Tamils and Muslims, and their ethnic political parties are once again caught up in a dilemma in choosing one or the other of the two leading presidential candidates, Sajith and Gota. The Tamil parties drew a set of 13 d

Why NPP for minorities and the nation?

Tuesday, 12 November 2019

The two minority communities, Tamils and Muslims, and their ethnic political parties are once again caught up in a dilemma in choosing one or the other of the two leading presidential candidates, Sajith and Gota. The Tamil parties drew a set of 13 d

Corporate treasurers should make more use of derivatives to hedge risks

Monday, 11 November 2019

Humans have never liked the idea of uncertainty. More so, they did not like the idea of economic uncertainty. Hence, the need to hedge this uncertainty gave rise to the evolution of derivatives. Derivatives have been used by mankind for a very long

China’s rising giants

Monday, 11 November 2019

China’s evolution into a global powerhouse with the world’s second largest economy is a familiar story. Less well-known though is the tremendous growth of the nation’s state-sponsored aviation sector, which now has a global reach. Serving the w

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