ESC Act amendments boost income tax collection to August

Sri Lanka’s income tax collection increased 9.1 percent during the eight-month period from January to August 2017 compared to the same period last year due to a late boost in revenue collected through the Economic Service Charge (ESC), according to the Treasury.

Rupee edges up on exporter dollar sales

REUTERS: The Sri Lankan rupee closed marginally firmer yesterday, as dollar conversions by exporters outpaced importer demand for the U.S. currency, dealers said.

Shares hit 1-wk closing low amid heavy foreign outflow

REUTERS: Sri Lankan shares hit a one-week closing low yesterday, as investors waited for clarity on new taxes in the national budget and on key legislations, although selling by foreign investors in Commercial Bank of Ceylon helped boost turnover.

Monetary Board cancels CIFL’s licence

The Monetary Board of the Central Bank yesterday informed the Colombo Stock Exchange that it cancelled the licence granted to Central Investment and Finance PLC (CIFL).

Foreign investment at CSE hits all-time high

In what continues to be a promising year for foreign investor involvement at the Colombo bourse, 2017 has recorded an all-time high foreign investor interest, with Rs.105.1 billion (year-to-date) in foreign purchases, passing the previous record of Rs.104.7 billion set in 2014. 

Local market will be opened to preferential foreign access under FTAs over 8 to 10-year period: PM

The Sri Lankan market will only be exposed to preferential foreign access over an eight to 10-year period under the trade agreements the government is currently negotiating, according to Prime Minister Ranil Wickremesinghe.

BOI chief says future EPZs will be PPPs

The Board of Investment (BOI) will discontinue the existing ownership structures for the new export processing zones (EPZs) and follow a public-private partnership (PPP) process, which will be exemplified by Rojana’s development of the Milleniya EPZ, according to the BOI head.

Ceylinco Insurance grows GWPs by 7% in 3Q despite challenging conditions

Ceylinco Insurance PLC recorded a positive growth in gross written premiums (GWPs) during the three months to September (3Q17) as the insurance giant expanded business despite the challenging market conditions, particularly with regards to its life segment.

SL must do away with its obsession with Tamil Nadu: economist

Indo-Sri Lanka trade has the potential to reach new heights if the island nation is ready to do away with its obsession with Tamil Nadu, a top economist said, a move according to him, would also help to iron out the issues in boosting Lankan exports to the neighbouring giant.

Export Development Board hosts 12th Exporters’ Forum

Development Strategies and International Trade Ministry in collaboration with the Export Development Board (EDB) organized the 12th Exporters Forum at the EDB Auditorium on November 21, 2017.

Berendina to crown best entrepreneurs

Berendina Micro Investments Company (BMIC) has announced its award programme to recognize outstanding entrepreneurship is slated to be held in November 24 2017 at MAS fabric part, Thulhiriya from 1:00p.m. to 5:30p.m..

China Products Exhibition kicks off for third time

Exhibiting quality Chinese products from more than 80 companies, and creating the perfect opportunity for Sri Lankan businesses to interact with world-class suppliers and source superior products to increase trade, the China Product Exhibition inaugurated yesterday at the Sri Lanka Exhibition and Convention Centre (SLECC) for the  third time.

Mobitel receives Gold award for ‘Service Brand of the Year’ at SLIM

Sustaining its journey of excellence, Sri Lanka’s National Mobile Service Provider, Mobitel, shone at the SLIM Brand Excellence Awards 2017 held at the BMICH 

DFCC Bank Inaugurates Matara City Branch

Expanding its reach across the country, DFCC Bank recently opened its second fully-fledged branch in Matara. The new branch will be known as DFCC Bank’s ‘Matara

Unilever and Sathosa Launch Season 2 of Idam Nidanaya

Unilever Sri Lanka together with the nation’s largest state-owned retail network, Lanka Sathosa, unveiled the second phase of the ‘Idam Nidanaya’

CSE and Korea Exchange sign MoU to pursue mutual development

The Colombo Stock Exchange (CSE) and Korea Exchange (KRX) recently announced the signing of a Memorandum of Understanding (MoU) to establish a collaborative relationship focused on mutual development opportunities in the Sri Lankan and Korean capital markets. 

Renuka Hotels commences trading on CSE

The shares of Renuka Hotels Limited commenced trading on the Colombo Stock Exchange (CSE) yesterday. The shares, which were listed by introduction on the Diri Savi Board of the CSE have been classified under the ‘Hotels and Travels’ sector. 

IAPC&M recognizes Deepal Sooriyaarachchi as Accredited Master Coach & Mentor

Deepal Sooriyaarachchi has recently been conferred the title of ‘Accredited Master Coach & Mentor’ (AMC/M) by the International Authority for Professional Coaching & Mentoring (IAPC&M).  

Rupee edges down on importer dollar demand

REUTERS: The Sri Lankan rupee closed marginally lower yesterday as importer dollar demand weighed on the local currency, dealers said. The market expects higher seasonal imports and a pick-up in motor vehicle buying after taxes were slashed in last week’s budget, they said. The spot rupee, which earlier hit a low of 153.85, closed at 153.75/80 per dollar, compared with Monday’s close of 153.70/80.

Sri Lanka will attract US $ 1.5bn in FDIs this year: BOI chief

Sri Lanka has attracted US$ 1 billion in Foreign Direct Investments (FDI) this year so far, mainly from foreign companies already operational in the country, and the economy is on track to reach US$ 1.5 billion in FDIs by the end of 2017, according to Board of Investment (BoI) Chairman Dumindra Ratnayaka.

Informal trade between SL and India thriving: economist

The opportunities in boosting trade and economic ties between India and Sri Lanka are yet to be realised as the fast-growing informal trading between the two nations, which has been in practice for decades, has not received the necessary attention, a top visiting economist from India pointed out on Monday.

National inflation soars to 8.8% in October over high food prices

High food prices resulted in Sri Lanka’s countrywide inflation shooting up to 8.8 percent in October, the highest so far this year, according to the National Consumer Price Index (NCPI) compiled by the Department of Census and Statistics (DCS).  

Stax relocates to Access II

Stax, Sri Lanka’s leading strategy consulting firm, recently moved into a new office within the heart of the Central Business District (CBD) in Colombo. Situated at 278/4, Access Towers II - 15th Floor, Union Place, Colombo-02, the plush new office is a spacious work space of 6,000 square-feet. Built with the intention of providing an expansive domain that encourages innovative and collaborative thinking, the new space includes ample meetin

Enrich grabs three coveted awards at NCE Awards

Enrich Tea and Food Exports (Pvt.) Ltd, one of the leading tea and food exporters in Sri Lanka, bagged three coveted awards at the NCE Export Excellence Awards Ceremony 2017 organized by National Chamber of Exporters.

Eric Rajapakse Opticians celebrates 100 years of improving vision in Sri Lanka

Eric Rajapakse Opticians is celebrating 100 years, making history as one of the country’s oldest eye care brands in Sri Lanka.

eChannelling Acquires ISO 9001:2015 certification

eChannelling has successfully earned the ISO 9001:2015 certification and version upgrade as a measure of the consistent quality of the products and services it offers 

The natural goodness of coconut milk

As our lives become increasingly fast-paced, we tend to hunt for and resort to a more convenient and less time-consuming alternative for every aspect of our lives.

MerlionKids International Preschool Now in Sri Lanka

MerlionKids International (MKI) has preschool centres in Singapore and China, which follow the International Childhood Education Curriculum framework

SLIM Marketers Summit 2017 a Resounding Success

The Marketers Summit 2017 held recently by the Sri Lanka Institute of Marketing (SLIM) at Waters Edgeconcluded on a successful note

Virtusa Announces Second Quarter 2018 Consolidated Financial Results

Virtusa Corporation(NASDAQ GS: VRTU), a global business consulting and IT outsourcing company that accelerates business outcomes for its clients, reported