Ample stocks of Pelwatte milk powder, yet government institutions selling imported stuff, laments Ariyaseela Wickremanayake

Pelwatte Dairy Industries, Master Divers and Maubima Lanka Foundation Chairman Ariyaseela Wickremanayake joined Biz 24×7 of the Adaderana 24×7 Channel for an exclusive interview.    

(0)Comments | November 11, 2014 10:47 am

The Best and Worst Places in the World to Run a Business, Ranked by the World Bank

You’d have to be heroic — or perhaps willing to break the law — to start a business in Venezuela, Afghanistan or Libya. They’re among the lowest-ranked economies in the World Bank’s latest “Doing Business” report, which scores 189 nations based on how hard it is to run a company there. Being an entrepreneur in…

(0)Comments | November 10, 2014 4:12 pm

Sri Lanka’s Royal Ceramics leaps into Kangaroo-land with subsidiary

Royal Ceramics Lanka PLC has incorporated a fully owned subsidiary by the name of Rocell Pty Limited in Australia to engage in the wholesale and retail business of floor and wall tiles and bathware. The initial investment in this subsidiary is 525,000 Australian dollars which is equivalent to Sri Lankan Rs. 61.5 million.

(0)Comments | November 7, 2014 5:23 pm

Foreign investor leaves Dhammika Perera’s Vallibel Power in Sri Lanka

Asia Energy Management Systems, the second largest investor in Vallibel Power Erathna, the minor hydro power project under prominent Sri Lankan businessman Dhammika Perera, has sold its 21 per cent shares this morning (04 November) for nearly a billion rupees. A member of the Vallibel Power Erathna directorate, Nimal Perera told that each share…

(0)Comments | November 4, 2014 1:17 pm

Sri Lanka’s Toyota Lanka slashes car prices

Toyota Lanka Private Limited, the Sri Lankan subsidiary of the famous vehicle manufacturer Toyota, has reduced the prices of vehicles being sold in Sri Lanka in accordance with the 2015 Budget proposals. Toyota Lanka General Manager Eshan Cooray told that the prices of the latest Prius C hybrid vehicle being sold in Sri Lanka…

(0)Comments | November 3, 2014 1:35 pm

How big data and IoT are changing manufacturing

The New Industrial revolution  Big Data and the Internet of Things (IoT) is revolutionizing the world around us – from the medical care we receive to the way retailers market to us – but how is the manufacturing industry benefitting from it? Large manufacturers have been analyzing data to optimize production and processes for many…

(0)Comments | October 23, 2014 12:49 pm

Strange Sri Lankan bank theory: Interest rates lowered only if requested

Sri Lanka’s bank interest rates have seen a historic low now. Some banks have already lowered their housing loan interest rates to 10.5 per cent. Overall, the current interest rate on housing loans remains at a 12 per cent level. Hence, the banks should reduce the interest rates of those who had obtained housing loans…

(0)Comments | October 17, 2014 8:30 pm

Ashok Leyland gets order worth $17 mn from Sri Lanka

Hinduja group flagship company Ashok Leyland has received an order worth $17 million (around Rs. 104 crore) to supply 630 buses to Sri Lankan operators. The company, through its joint venture in Sri Lanka, has received an order for 630 buses worth $17 million from private bus operators, Ashok Leyland said in a filing to…

(0)Comments | October 16, 2014 4:04 pm

Major stakeholder Parkson Retail Asia too relinquishes shares in ODEL Sri Lanka

Parkson Retail Asia Limited of Malaysia, the major stakeholder in Sri Lanka’s leading fashion apparels retail chain ODEL has agreed to sell all its shares to Softlogic Group for nearly Rs. 2.8 billion. While informing this decision to the Malaysian Stock Exchange, Parkson Retail Asia which already owns the major 47.46 percent shares in ODEL…

(0)Comments | October 11, 2014 6:29 pm

Is upcoming budget ‘a bag full of election goodies? Hint from Dr. PBJ

  Though it is widely reported that the budget for 2015 to be presented to Parliament by President Mahinda Rajapaksa on 24 October would include a lot of concessions to the people with an eye on upcoming elections, Finance Ministry Secretary Dr. P.B. Jayasundere gave an assurance that it would not be such a budget….

(0)Comments | October 9, 2014 3:34 pm