(Reuters) – Shippers trying to minimize time in the Middle East after oil tanker attacks pushed up insurance costs are scaling back purchases of marine fuels from the United Arab Emirates’ (UAE) Fujairah oil hub, trade sources said. Instead, they are turning primarily to Singapore, the world’s top refueling hub, to buy marine fuels, also…
What would be the role of businesses in creating a sustainable economic resurgence? Speaking from experience, South African High Commissioner Robina Marks stated that the primary role of businesses is to play an active part in uniting a country, for both their own survival and sustainability, and for the country’s economic development. “Across the world,…
The Annual General Meeting of the PATA Sri Lanka Chapter was held in Colombo recently. The Sri Lanka Chapter facilitates its members within Sri Lanka in conducting their varied businesses within the hospitality sector in a more effective manner adn providing access to international commercial contacts. The key aim is to promote Sri Lanka as…
Man-made terror attacks – like natural disasters – are extreme events and their frequency appears to be rising globally. Examples of highly coordinated attacks include 9/11 in the US in 2001, the Bali Bombings in 2002, 7/7 attacks in London in 2005, and the Paris attacks in 2015. Closer to home, Sri Lanka was hit…
Wafailu Bello, a Nigerian national who is the President/CEO of Bellmari Group and former Group General Manager of Dangote Industries Limited was in Sri Lanka to have B2B meetings with Idea Group Ltd. Wafailu Bello is a brother of Aliko Dangote, world’s wealthiest Black national. The objective of discussions between Sampath Mayakaduwa, Chairman/CEO of Idea…
Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator, signed a Memorandum of Understanding (MoU) with the University of Moratuwa, Sri Lanka on Monday (15, July 2019) to collaborate and introduce a self- powered housing model for low income households with the aim of providing best architectural housing structure with the use of…
Sunshine Holding PLC and CIC Holding PLC on Monday (15) stated that they have called off plans to merge/ combine healthcare sector operations as announced in March 14 this year. The two companies in separate market fillings noted that they have decided not proceed with the merger and will continue to operate their healthcare sector…
Ekuiti Nasional Bhd (Ekuinas) has sold its entire equity interest, together with its minority partners, in APIIT Lanka Pvt Ltd to BG Investments Pte Ltd at an enterprise value of RM41 million. We are pleased to report that the divestment generated a gross internal rate return (IRR) of 17.5% and a money multiple of 2.2…
After the successful and pioneering training for Sri Lanka’s bamboo craftsmen in early 2019 and later in June, the third phase of the program will take-off in Colombo today 17 July. The internationally recognized Italian product designer, Giulio Vinaccia is scheduled to join the parallel design sessions held along with July 17 sessions. The bamboo…
Reflecting a new age in hospitality, in which business travel is inseparable from lifestyle, the Elyon Hotels chain unveiled its new offering, ‘Elyon Colombo’ located at Orion City, Colombo recently. Presenting a contemporary, vibrant design, with purpose-built smart technology and meaningful dining options,Elyon Colombo, to be opened on 1st August, is envisioned as the go-to…
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