Biz Briefs

Construction Expo 2015

Construction Expo 2015, a comprehensive exhibition featuring every factor related to the construction and building industry will be held from June 12-14 at the BMICH.

The Ceylon Institute of Builders (CIOB) with Lanka Exhibitions and Conference Services will organise this event for the fourth consecutive year.

Construction Expo 2015, will also feature a ‘World Construction Symposium’ with foreign construction giants. This concurrent event will add colour and world class expertise to the event.

A special Chinese pavilion will be on display this year with over 30 companies. The visiting Chinese delegation will have B2B meetings and will be looking for prospective agents and distributors.

Sri Lanka is experiencing a gradual boom in construction with urban and rural areas being developed to be on par with the standards of developed nations.

Air Cargo market ends 2014 on a positive note

Geneva: The International Air Transport Association (IATA) released full-year air cargo data for 2014 showing 4.5% demand growth compared to 2013 measured by freight tonne kilometres (FTKs). That is a significant acceleration from the 1.4% recorded in 2013 over 2012.

Air cargo market expansion gathered momentum as 2014 progressed. The year finished on a positive note, with growth in December accelerating to 4.9%, compared to December 2013.

The vast majority of the growth in 2014, however, was in the Asia-Pacific and Middle East regions, which contributed 46% and 29% of the expansion in FTKs. Growth was recorded in all other regions, but was particularly weak in Latin America.

“After several years of stagnation, the air cargo business is growing again. This is largely being driven by the uptick in world trade over the second half of 2014.

European CB toughens stance on Greece

The European Central Bank (ECB) has toughened its stance with Greece by restricting financing to the country's banks.

In a statement, the Central Bank said it would no longer accept Greek government bonds as collateral for lending money to commercial banks. The move makes access to cash more expensive for Greece's banks.

The ECB said the suspension came as it could not assume a 'successful' deal on Greece's 240 billion (£179 billion) bailout. The newly-elected Greek government is in talks with international creditors over the terms of its bailout.

The Greek Finance Ministry said the ECB's decision, which is due to come into effect on February 11, would have 'no adverse impact' on the country's financial sector. - BBC

Sony boss quits

Sony Pictures’ Amy Pascal has stepped down as co-chair of Sony's movie studio following a debilitating cyber attack that revealed her private emails.

Ms Pascal will launch a production company in May.

She has already apologised for certain revelations that came as a result of the leaked emails.

Last month, Sony condemned the “vicious” attack, which led it to suspend the release of the film ‘The Interview'.

“I have spent almost my entire professional life at Sony Pictures and I am energised to be starting this new chapter based at the company I call home,” said Ms Pascal in a statement, adding that her transition to a production role had been discussed “for some time”.

Army opens resort in Kalkudah

The Sri Lanka Army's newest resort, 'Laya Waves' was opened by Army Commander, Lieutenant General Daya Ratnayake at Kalkudah recently. The state-of-the-art resort comprises eight cabana-style rooms and suites overlooking the Kalkudah beach. The other resorts of the Laya resort chain are Laya Beach in Wadduwa, Laya Safari in Yala and Laya Leisure in Kukuleganga.

FCCISL holds 'Entrepreneur of the Year' Awards

The Federation of Chambers of Commerce and Industry (FCCISL)held its annual Entrepreneur of the Year Awards ceremony at the Waters Edge, Battaramulla recently. Several Sri Lankan entrepreneurs were awarded for their accomplishments under various categories.

Minister Champika Ranawaka, Australian High Commissioner Robin Mudie and top members of the business community were also present.