Emerging economies let currencies slide to stay competitive

?AFP: The world’s emerging economies are allowing their currencies to slide in a quest to remain competitive, following China’s devaluation of the yuan and the dollar’s strength in anticipation of US rate hikes.

Gold industry analysts expect price boost from currency war fears

?REUTERS: Gold prices could rise above US $ 1,200 an ounce in the next few months as fears of a currency war following the devaluation of the yuan make equity markets choppy, boosting physical Gold and ETF buying, leading industry analysts said at a conference.

IMF official says “premature” to speak of Chinese crisis

?REUTERS: China’s economic slowdown and a sharp fall in its stock market herald not a crisis but a “necessary” adjustment for the world’s second biggest economy, a senior International Monetary Fund official said on Saturday.

Coca-Cola to invest US $ 4bn in China over next 3 years: CEO Muhtar Kent

?PTI: Coca-Cola will invest US $ 4 billion in China over the next three years, its CEO Muhtar Kent announced at the site of a new plant in the soft drink giant’s third largest market.

Government to sell US $ 1.5bn of Indian Oil shares today

India will sell a 10 percent stake in top state-run refiner Indian Oil Corp Ltd today through a stock market auction, the government said, as part of its drive to raise funds by selling off assets.

HP revenue falls on weak PC sales, lower demand for services

?REUTERS: Hewlett-Packard Co reported a drop in revenue for the fourth straight quarter, hurt by weak PC sales and lower demand from corporates for its services.

Novartis buys remaining rights to GSK treatment for up to US $ 1bn

?REUTERS: Novartis has agreed to buy all remaining rights to Ofatumumab from Britain’s GlaxoSmithKline for up to US $ 1 billion, boosting the Swiss drugmaker’s stable of multiple sclerosis (MS) treatments.

Australian competition watchdog approves Qantas, China Eastern joint venture

?AFP: Australia’s competition watchdog reversed a draft decision against a joint venture between Qantas and China Eastern, giving the carriers the green light to coordinate pricing and scheduling.

LG Elec to supply auto displays to Honda, Porsche

?REUTERS: South Korea’s LG Electronics Inc will supply Honda Motor Co Ltd and Porsche with in-car displays, a person with direct knowledge of the matter said yesterday, as the firm tries to grow its auto business to counter weak sales at its mainstay television and smartphone units.

Uber seen reaching US $ 10.8bn in bookings in 2015: Fundraising presentation

?REUTERS: Uber Technologies Inc’s global bookings are projected to rise nearly threefold to US $ 10.84 billion this year and reach US $ 26.12 billion the next, according to a recent presentation for potential investors seen by Reuters.

DFCC and DVB introduce financial solutions beyond Banking

Friday 21st of August 2015, Colombo: DFCC Bank, the country’s leading development bank and its commercial arm DFCC Vardhana Bank (DVB), introduced Bancassurance, to offer their customers a combined banking and insurance solution.  The Bancassurance product provides the Bank’s customers with a solution that seamlessly delivers insurance services. All Bancassurance products are being facilitated in collaboration with leading insura

OPPO celebratesits first Sales Launch with Fans at Majestic City

OPPO celebrated its official launch in Sri Lanka on the 15thAugust with a splashy showcase of its newest smartphone releases, the R7 Lite and the R7 Plus, at Majestic City. The launch kicked off with a bang thanks to an energetic surprise flash mob that got everyone’s attention, and the rest of the event was a blur of flashy models, fun games and of course, loads of facts about OPPO and the company’s impressive history. 

S-lon rewards passionate plumbers in Horana

Inspiring plumbers across Sri Lanka in their drive to encourage excellence and hard work in the industry, S-lon took its Plumber Educational Program to Horana (Kalutara Region) recently. This grand event was organised to educate the plumbers by conducting informative and interactive knowledge sharing session to further uplift their profession and also to recognize selected hardworking plumbers in the region, for their passion, with incentive rewa

Hirdaramani’s Leadership Development Programme (LDP) continues to support the development of employe

hursday 20th August 2015, Colombo: The Hirdaramani Group recently held a graduation ceremony to recognize employees who successfully completed the company’s 2014/2015 Leadership Development Programme (LDP). At the event, special awards were presented to high performers who excelled in the programme, and the fourth edition of the LDP was launched for a new batch of over 200 employees.  The Hirdaramani Leadership Development Programme wa

Leo Burnett successfully completes third Masterclass programme for industry interns

?Thursday 20th August 2015, Colombo: Leo Burnett Solutions Inc., (LBSI) the local office of the global advertising network Leo Burnett Worldwide, recently completed its third Masterclass programme for 13 industry interns. The intensive five-week internship which is heralded as the only programme of its kind in the industry, culminated with a graduation ceremony which was attended by the agency’s senior management and several partners of the

The vision of CFW Swim starts on a good footing

Wednesday 19th August, 2015: The swimwear edition of Colombo Fashion Week (CFW) known as CFW Swim, which concluded last week, started on a good footing. It showed every prospect that it has taken a step closer towards its vision of making Sri Lanka an international swimwear capital. CFW Swim was a work in progress for over a year by CFW and came to fruition on 7 and 8 August 2015. CFW Swim is a platform that is very relevant to Sri Lanka and will

Serendib Flour Mills Silver sponsor of Pro-Food Pro-Pack Exhibition

?Wednesday 19th August 2015, Colombo:  Serendib Flour Mills recently extended its support to the Pro-Food Pro-Pack Exhibition as the Silver sponsor of the event for the second consecutive year. The exhibition was attended by many high profile delegates including the Minister of Finance Hon. Ravi Karunanayake and Secretary to the Ministry of Industries S. S. Miyanawala.

Yamaha Waverunner partners with Colombo Fashion Week Swim

Yamaha, the leading global watercraft manufacturer, partners with Colombo Fashion Week (CFW) Swim. Coming in as the official watercraft partner, Yamaha showcased its range of leisure products and services, which will complement the swimwear collections with style, adventure and panache.

BMW looks at whether Google’s Alphabet infringes trademark rights

?REUTERS: BMW recently said it was looking into whether Google infringed any trademark rights after the Silicon Valley-based group set up a new company called Alphabet, which is also the name of a BMW subsidiary.

GM’s Cadillac targets 500,000 annual global vehicle sales by 2020

?REUTERS: General Motors Co. luxury brand Cadillac aims to increase its annual sales to half a million vehicles worldwide by 2020 from an expected 275,000 this year, Cadillac’s top executive said.

Toyota says workers injured, factory lines shut in Tianjin

?AFP: Toyota yesterday said more than 50 employees were injured after two giant explosions last week in the Chinese city of Tianjin, where the carmaker’s factory lines will remain closed until at least the end of Wednesday.

David Pieris unveils new-generation Pulsar RS200 and AS150

Bajaj Pulsar, known for its performance, technology and design, is set to redefine Sri Lanka’s sports bike market with the launch of new-generation Pulsar motorcycles.

Asiri Surgical introduces weight loss mgt through ‘wellness’ offering

Acknowledging that obesity is no longer considered a cosmetic issue that is caused by overeating and a lack of self control but a chronic progressive disease resulting from multiple environmental and genetic factors...

Browns Hospital now on eChannelling

?Browns Hospital Ragama recently signed up with eChannelling PLC to offer hospital/doctor appointment services to its patients. 

Hemas Hospitals and NITF sign MOU to benefit ‘Agrahara’ beneficiaries

In a landmark partnership in national healthcare, Hemas Hospitals signed a Memorandum of Understanding (MOU) with the government owned National Insurance Trust Fund (NITF), to be the preferred hospital for their members.

Leesons Hospital launches advanced MRI scanner

?Leesons Hospital (PVT) Limited extending their service to the nation has launched the most advanced Magnetic Resonance Imaging (MRI) Scanner in Sri Lanka, to its chain of patient-friendly machines.

A & E Lanka features thread screen at CFW ‘Swim’

American & Efird (A&E) Lanka, a fully owned subsidiary of one of the world’s premier industrial sewing thread manufacturer American & Efird LLC, USA, went onto exhibit an artistic visual installation made out of thread and also engage the audience real-time at the recently concluded ‘Swim’ by Colombo Fashion Week (CFW).

Hale & Hearty – Convenient health Insurance for the entire family

  Friday August 14th 2015, Colombo: ATL now provides individuals and families added peace of mind, through its ‘Hale & Hearty’ hospitalization insurance plan. This convenient insurance plan covers individuals and their families within the age group of 18 to 55. It can be tailored to meet the needs of entrepreneurs, executives, managers and others like young adults and Housewives. The policy is ideal for individuals resi

Esteem from JAT to encourage economical plantation

As part of a major diversification process, JAT Holdings embarked on opening up a new subsidiary to the company’s portfolio by introducing Esteem Plantations (Pvt) Ltd. JAT Holdings, being leaders in the production of wood coatings, already had acquired plantations of Sandalwood and Mahogany.  With over 25 years of experience in the plantations sector, in both, state and private entities, General Manager, Dinal Samaranayake disclosed

CIC introduces Stevia by PureCircle

Thursday 13th August, 2015, Colombo: CIC’s Industrial Solutions Division is proud to be the sole agent for Stevia provided by PureCircle, a major provider of natural sweeteners to the global food and beverage industry. Stevia is a naturally sourced, zero-calorie sweetener that has been used as a natural sugar substitute and flavouring ingredient for hundreds of years. CIC supplies this natural sweetener for industrial use to food and bevera