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‘Yaare tea’ the traditional way

‘Yaare tea’ the traditional way

Staff member S. Nallendran prepares a cup of tea the traditional way at the lobby of the Heritance Tea Factory at Nuwara Eliya. The hotel is promoting “Yaare Tea” as a novel feature connected to the hotel’s tea roots with guests seeing the preparation and tasting it thereafter. Sri Lankan tourism authorities should add this [...]

Slow death for aging Lanka Salusala

Sri Lanka’s state owned handloom textile wholesale and retail giant in the 1960s, Lanka Salusala Ltd is now breathing its last with the government’s latest decision to give a golden handshake to 253 employees. The voluntary retirement scheme proposed by the government will signal the end of the only state textile trading enterprise which enjoyed a [...]

Lamborghini cars – once again hot topic in the country

Italian-made Lamborghini cars have once again turned out to be a hot topic in the country amidst a Customs move to bar the re-export of these vehicles.  The Customs action to stop the re-export of three Lamborghinis brought down for demonstration purposes by Euro Sports Auto Lanka (Pvt) Ltd was thwarted by an interim order [...]

Pioneering Cinnamon study reveals eight different Sri Lankan travellers

Sri Lankans have unique needs as travellers from the red carpet seekers to those who want it “My Way” according to a pioneering research study carried out on domestic traveller trends by the Cinnamon Hotels and Resorts. This indigenous leisure brand backed by parent company John Keells Holdings (JKH), commissioned the first-ever independent research survey [...]

CSE to revamp listing rules this year

CSE to revamp listing rules this year

The Colombo Stock Exchange (CSE) is currently in consultations with the industry to carry out a total overhaul of its listing rules, an official said. “We are currently doing industry consultations with all stakeholders to completely revamp the CSE listing rules,” Rajeeva Bandaranaike, CEO CSE told the Business Times on the sidelines of the CSE’s [...]

Chinese business delegations flow into SL, the latest from Beijing

A 48-member high powered business delegation from China organised by the Beijing Lansing Century Exhibition Company Ltd. in association with Lanka Exhibition and Conference Services (Pvt) Ltd will be visiting Sri Lanka next week to coincide with the Constrction Expo 2015 in Colombo. The Ceylon Chamber of Commerce said it was organising a Business Forum [...]

Asian Aviation and Hospitality forum in Colombo explores in-flight service enhancement strategies

Asia Pacific On-board Travel (APOT. Asia), an organisation that brings together aviation and hospitality leaders in the Asia Pacific Region, held its annual forum in Colombo on Monday in Hilton Colombo, with the participation of over 50 APOT delegates, airline representatives and industry stakeholders. Aimed at collectively innovating and improving service standards of on-board service [...]

CWE struggles to pay millions of rupee dues of suppliers

The Cooperative Whole Sale Establishment (CWE) outlets countrywide are struggling to keep its shelves adequately stocked with essential commodities as many of its suppliers have halted supplies due to non payment of their dues. Several essential suppliers told the Business Times that the management of the establishment is delaying their payments and they were not [...]

Mercmarine to bring in latest engine simulator to Sri Lanka

Mercmarine Training is all set to embark on its latest venture in bringing state-of-the-art maritime training facilities to Sri Lanka. The institute will open a Marine engine room simulator, which is the latest version of ‘Transas’, model 5000 TECHSIM, full mission—slated to be the best and most advanced engine room simulator in the country, a [...]

SL employers urge government not to legalise mandatory wage increase for workers

Whilst agreeing to the need of granting a pay hike for private sector workers, the Employers Federation of Ceylon (EFC) reiterated its call to the government not to go ahead with the decision to introduce legislation making compulsory a wage increase. The legalising of a wage increase for private sector workers will bring disastrous effects [...]

Microimage opts for ASEAN region expansion in broadcast – CEO

Sri Lanka-based Microimage has opted for a “regional expansion strategy to tap the rapidly emerging ASEAN market opportunities for Broadcast, Mobile and Digital”, according to the company’s Chief Executive Harsha Purasinghe, who was quoted in a recent statement. Further, the statement also noted that the company’s clients included “RTM-Malaysia (Malaysia’s National TV/Radio Broadcaster), DST-Kristal FM [...]

Encouraging results from BT profiles on needy entrepreneurs

Innovative entrepreneurs profiled by the Business Times (BT) on their creations and their search for financial and other support has drawn some encouraging responses. The BT report on Trincomalee teacher’s S. Parthasarathy water-saving device in flushing the commode ((BT of 5/4/2015) saw him receive many inquiries offering assistance from locals as well as foreigners. Reading the [...]

Terrorism, ISIS unlikely to impact global travel

Terrorism and disruptive groups like ISIS, which is seeking an Islamic state, are unlikely to impact on global travel which is seen rising from 1.1 billion people crossing borders last year to a forecasted1 8 billion in 2030, officials said here. “Is this an unstable world? I don’t think so. It’s because travel is a [...]

Sri Lanka Tourism to launch Rs.200 million new brand building strategy

Sri Lanka Tourism has picked a global communication partner to launch its Rs.200 million new brand building strategy, a media release issued by the Promotions Bureau stated. This was announced at the Global Conference on On-board services conference staged at Hilton Hotel sponsored by Sri Lankan Airlines under the leadership of its new chairman Rakitha Jayawardena [...]

Sri Lanka in a Guinness Record initiative

Sri Lanka in a Guinness Record initiative

Sri Lanka will attempt to set a record breaking feat of gathering tea leaves by 1000 people at one location within a specific period of time. This is being carried out in a unique tri-party partnership of making Sri Lanka a power brand globally, as part of an initiative of Sri Lanka Tourism, Sri Lanka Tea [...]

Undergrads worldwide vie at “Strangers” University Romp 2015 in Colombo

Foreign undergraduates will converge in Sri Lanka for a romp in the country as part of a competition encouraging physical fitness and mental well being of youth. In this respect, the university system will be working together with the Department of Marketing Management of the University of Sri Jayewardenepura and the Sri Lanka Tourism Promotion [...]

Citrus Leisure Group posts 102% rev growth at Rs. 616 mln

Citrus Leisure Group has posted 102 per cent growth in revenue for 2014/15, recording Rs. 616 million of which its first property in Hikkaduwa contributed Rs. 270 million, a company media release said. “The newly opened Citrus Waskaduwa hotel contributed Rs. 317 million in revenue, operating only for 9 months of the financial year, despite [...]

National Broadband drive connects school IT Labs with Dialog’s High SpeedOptic Fiber and 4G Broadband

National Broadband drive connects school IT Labs with Dialog’s High SpeedOptic Fiber and 4G Broadband

Dialog Axiata has joined the Ministry of Education and the National Broadband Initiative (NBI) project of the Telecommunications Regulatory Commission of Sri Lanka (TRCSL) to connect ICT labs of leading schools in Colombo and the suburbs with high-speed G LTE and the company’s island-wide fiber network. This initiative will provide students with seamless access to [...]

Ajantha, new director at PIM

Ajantha, new director at PIM

The University Grants Commission (UGC) recently appointed Dr. Ajantha Dharmasiri as the Director of the Postgraduate Institute of Management (PIM).  He will also continue as the Chairman of the board of management and the Board of Studies of PIM. He has been serving as the acting Director of PIM for the last 10 months. PIM [...]

“It was Rajapaksa regime that abused road construction funds,” says Highways Ministry

Sri Lanka’s Highways and Investment Promotion Ministry said on Monday that due to misuse of funds during the Mahinda Rajapaksa regime, in which Rs.151 billion was raised outside the national budget, many contractors are unable to continue their work on road projects due to unavailability of funds. The ministry was responding to comments to the [...]

Pension scheme urged for construction sector workers

Sri Lanka’s Chamber of Construction Industry (CCI) is urging the Government to implement a pension scheme for the industry. The request was made by CCI President Surath Wickramasinghe at the May 29th inauguration of the ‘Build SL 2015 International Exhibition’ held at the BMICH in the presence of President Maithripala Sirisena and Minister Rauff Hakeem. [...]

CIC Holdings records turnaround performance in 2014/2015

Group profit after tax (PAT) at CIC Holdings PLC showed a figure of Rs. 1040.84 million, a strong improvement over last year’s loss of Rs. 1,126.84 million for the financial year ending 31 March 2015.  The group said in a media statement that it recorded a revenue growth of 3 per cent, a continuing business [...]

Hemas to further expand healthcare, personal care segments

Hemas Holdings, which raised Rs. 4.1 billion of new capital through its recent rights issue to finance expansion plans in its wellness business, will focus on expanding the healthcare and personal care segments of the business, officials said. “We raised the ‘rights’ especially for expansion in our Bangladeshi market segment,” an official said. Hemas, releasing [...]

Brandix and WSO2 launch 2015 MIT Global Startups Challenge in Sri Lanka

The hunt has begun for Sri Lanka’s ‘big idea’ technology startups with the launch of the 2015 Global Startup Labs (GSL) Sri Lanka Challenge. This year, for the first time, Brandix will be joined by WSO2 to support this programme run by the Massachusetts Institute of Technology (MIT), the local company said in a media [...]

Hayleys MGT Knitting to be rebranded as Hayleys Fabric PLC

Hayleys MGT Knitting Mills PLC will be rebranded as Hayleys Fabric PLC, officials said.  In the 2014/15 annual report, Hayleys MGT Managing Director/CEO Rohan Goonetilleke has said that with the many changes that have been made over the last couple of years and the emergence of a new culture and image, an opportunity has arisen [...]

Some Sri Lankan expatriates in the US to assist U-Tron solar lighting scheme for low income households

Some Sri Lankan expatriates in the US to assist U-Tron solar lighting scheme for low income households

A group of Sri Lankan expatriates working in the US has stepped in to assist U-Tron (Beijing) Electronics Co Ltd’s initiative to introduce solar power lighting systems for rural and urban low income families in Sri Lanka, officials of U-Tron Lanka, a subsidiary of the Chinese company said. U-Tron’s Sri Lankan partner Basil Leanage Enterprises [...]

Tuk-tuk taxi maker aims to make inroads in US

Tuk-tuk taxi maker aims to make inroads in US

DENVER (AP) — They’re ubiquitous in Asia, swarming the bustling streets of Bangkok, New Delhi and Beijing. Now, a company that manufactures tuk-tuks — the three-wheeled motorised rickshaws that have moved the masses for more than a century and go by many other names in Asia, Africa and Latin America — aims to make inroads in [...]

SL Tourism aims to drive more business from cruise tourism

Sri Lanka Tourism (SLT) in partnership with travel industry associations has prepared a new marketing plan to capture a new market segment – cruise tourism.  SLT, in a media release, said the country’s main tourism promotion agency will be present at the top B2B cruise fair Sea trade Cruise Asia hosted by Busan Port Authority, [...]

Colombo – fastest growing city in the MasterCard Global Destination Cities Index

Colombo has become the fastest growing city in terms of international, overnight visitor numbers in the annual MasterCard Global Destinations Cities Index released this week. “The rapid rise in tourism after the end of Sri Lanka’s long running civil war brought about Colombo’s double-digit cumulative annual growth rate over the last six years,” the company [...]

Sri Lanka’s economy now on a correct path towards speedy recovery: Finance Minister

Sri Lanka’s economy is now on a correct path towards speedy recovery as a result of pragmatic monetary measures including cost cutting and eliminating corruption, under the new regime, Finance Minister Ravi Karunanayake revealed. The country has been able to raise nearly US $1billion through international sovereign bonds last Friday in the first international bond [...]

Ceylon Tobacco parent focusses on illegal trade on World No Tobacco Day 2015

Ceylon Tobacco Co (CTC) parent British American Tobacco (BAT) has used World Tobacco Day 2015 to focus on the illegal tobacco trade while, according to anti-tobacco campaigners, choosing to remain silent about the ‘killer’ impact of tobacco.Issuing a media release to mark World No Tobacco Day 2015, CTC said its parent is reiterating the need [...]

Lanka Hospitals – national and international resource for professionally qualified nurses

Lanka Hospitals PLC has opened its doors to foreign student nurses from the Asian region in a programme that has been very successful. Following an agreement with the Maldivian government, from 2008 onwards, two batches of approximately 30 Maldivian student nurses every year are given clinical training at Lanka Hospitals, the company said in a media [...]

Good governance activist reiterates need for naming and shaming policy at the SEC

Sri Lanka’s advocate of good governance and transparency in the Colombo stock market has reiterated calls for naming and shaming crooked directors, controlling interests, auditors and errant regulators “who act against the interests of the investing public, the independent minority shareholders (IMS), and the national interest”. While the Securities and Exchange Commission (SEC) pores over [...]

Brandix i3 receives ISO/IEC 27001:2013 Certification

Brandix i3 has been certified compliant with ISO/IEC 27001:2013 by the International Standards Certifications (ISC) (Pvt) Ltd. The ISO/IEC 27001:2013 standard provides requirements for an information security management system (ISMS). ISMS is a systematic approach to managing sensitive company information so that it remains secure and includes people, processes and IT systems by applying a [...]

Ravi Karunanayake concerned over ST Business Times cartoon

Finance Minister Ravi Karunanayake has raised concerns over the Business Times “Mind Your Business” cartoon on Sunday, May 24 which referred to the minister’s recent acquittal in a foreign exchange case. He says justice finally prevailed after seven years of litigation. “We are all grateful when the scales of justice are held evenly,” he has [...]

Retired auditor turns childhood dream into creating portable utility to pick dirt and leaves

Retired auditor turns childhood dream into creating portable utility to pick dirt and leaves

Though not economically sound or with no proper standing in life to be a forceful and influential personality who could transform an innovation or invention into a successful product, there are many people in Sri Lanka who have the intellectual ability to be real creators for public good. If only they are given a helping [...]

Regaining Capital Market Mojo: Part 1 – Creating awareness

Rudimentary, “Yahapalana” culture has no doubt brought about a shift in the general thinking of the society. Debatable and the divide visible as it stands, some call the process as witch hunting and the proponents justify yahapalana to be long overdue in all sectors for they have had it all from “Dharmishta samajayak karaa… suba [...]

National policies or half-baked policies – Comment

For decades, the need for national policies in health, education, social welfare and other allied sector has seen vigorous debate but without any conclusion. The main roadblock: Policies on these crucial areas are designed for political expediency and as vote-catching measures rather than the country’s interests at heart. This applies to all administrations – whether it [...]

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