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Nearly 100,000 Chinese tourists visit Sri Lanka up to April

(Xinhua) – Nearly 100,000 Chinese tourists visited Sri Lanka till April this year, making China among the top three countries generating the most number of tourists to the island country, statistics from the Tourism Ministry showed here Tuesday. In April, 17,462 Chinese tourists arrived in Sri Lanka, making China the third largest market. India and…

(0)Comments | May 8, 2018 4:46 pm

Resurgent Teejay Lanka’s Q4 pre-tax profit up 27% to Rs 501.6 million

Says now well-positioned for strong operational growth in 2018-19   Teejay Lanka PLC has reported profit before tax of Rs 501.7 million at Group level for the final quarter of 2017-18, to end a challenging year with a noteworthy resurgence that augurs well for Sri Lanka’s only multinational textile manufacturer.   The Weft knit fabric…

(0)Comments | May 8, 2018 4:29 pm

Alibaba buys Rocket Internet’s Pakistan ecommerce platform Daraz

FRANKFURT (Reuters) – Alibaba Group (BABA.N) has bought the entire share capital of Rocket Internet’s (RKET.DE) South Asian ecommerce platform Daraz Group, Rocket Internet said on Tuesday. It did not disclose financial details. Daraz, founded in Pakistan in 2012, operates online marketplaces in Pakistan, Bangladesh, Myanmar, Sri Lanka and Nepal. The unit will continue to…

(0)Comments | May 8, 2018 3:47 pm

Ceylon Chamber mission to the Kingdom of Saudi Arabia see positive results due to Long term credit facility received by SELMO

SELMO Pvt. Ltd from Sri Lanka signed a financing agreement with the Saudi Export program (SEP) to import raw material related products from Saudi Arabia to Sri Lanka on long term credit basis. This marks the first agreement signed by a Sri Lankan entity with the SEP to obtain the financing line facility, following the…

(0)Comments | May 8, 2018 6:39 am

Panasian Power commissions its first solar power project on road to 12MW by 2019

Panasian Power PLC, one of Sri Lanka’s leading green energy solutions providers, recently completed three rooftop solar power plants with a combined capacity of 1.2MW. The plants are located in Kolonna, Borelasgamuwa and Kohuwala with capacities of 300kW, 400kW and 500kW, respectively. This takes Panasian Power a step closer towards its goal of generating 12MW…

(0)Comments | May 8, 2018 6:27 am

DIMO Chairman receives Germany’s Highest Tribute

Ranjith Pandithage bestowed with Order of Merit of the Federal Republic of Germany The Order of Merit of the Federal Republic of Germany is a very rare and the most prestigious recognition one can receive from the German Government. Ranjith Pandithage (Chairman and Managing Director of Diesel & Motor Engineering PLC) was recently bestowed with…

(0)Comments | May 7, 2018 6:34 pm

Sri Lanka to sign deals with Total, Schlumberger for seismic study

Reuters – Sri Lanka will sign agreements with French oil and gas major Total and a subsidiary of U.S. firm Schlumberger for a seismic study off its east coast to evaluate any prospective oil resources, a top official said on Friday. Vajira Dassanayake, the director general at Petroleum Resources Development Secretariat (PRDS), said a first…

(0)Comments | May 7, 2018 9:36 am

WTI Oil Rises Above $70 a Barrel on U.S.- Iran Sanctions

Bloomberg – Crude futures in New York topped $70 a barrel for the first time since November 2014 as traders brace for a re-imposition of U.S. sanctions on Iran that risks disrupting exports from OPEC’s third-largest producer. Oil has rallied 16 percent so far this year as OPEC and allied producers crimp a global glut…

(0)Comments | May 7, 2018 9:06 am

Special Adviser to Japanese Premier called on President

A group of representatives, including Dr. Hiroto Izumi, Special Advisor to the Prime Minister of Japan, Shinzo Abey met with President Maithripala Sirisena at the President’s Official Residence, yesterday (04). These representatives visited the country to investigate and study regarding the future development activities to be launched in Sri Lanka, according to the outcomes of…

(0)Comments | May 5, 2018 12:44 pm

Excel Restaurants Takes Over FLOOR by O! and SHORE by O!

Excel Restaurants Pvt Limited, a subsidiary of Browns Investments PLC (BI), was granted franchise rights of FLOOR by O! and SHORE by O!, two leading pub and restaurant brands owned by Pubs ‘N Places Pvt Limited, a sister company of Lion Brewery Ceylon PLC. The strategic move of Excel Restaurants Pvt Limited grants a substantial…

(0)Comments | May 4, 2018 4:19 pm