Top minister proposes to look at alternative finance to boost growth

As Sri Lanka is looking at new avenues to fast-track growth, a top cabinet minister recently suggested industries to look in the direction of alternative finance, an option that is becoming increasingly popular throughout the world.

National Conference of Chartered Accountants kicks off

Sri Lanka’s largest business summit, the National Conference of Chartered Accountants, was inaugurated yesterday in the presence of the country’s corporate glitterati comprising of top business leaders, decision makers, accounting and finance professionals as well as diplomats.

CSE calls for nationwide survey to tackle lower mom-and-pop investor participation

The Colombo Stock Exchange (CSE) has embarked on a countrywide project to identify and understand the number and scale of the potential new investors who are currently staying out of the market.  

Sri Lanka to offer tax breaks for project involving China-backed Port City

REUTERS: Sri Lanka is preparing legislation with tax incentives to attract investment into a big property development near the Colombo port that includes a US $ 1.4 billion Chinese-backed real estate project, a government minister said yesterday.

New SEC Act to be tabled in Parliament

The new Securities and Exchange Commission (SEC) Act will be gazetted and presented to Parliament for approval shortly.

Unemployment in 2Q down from last year

Sri Lanka’s unemployment rate in the second quarter of 2017 (2Q17) fell to 4.5 percent from 4.6 percent in the corresponding quarter last year (2Q16), according to the country’s statistics office. The survey estimated that 261,276 new jobs were created during the 12-month period.

An interactive session on new Inland Revenue Act

The new Inland Revenue Act, effective from 1st April 2018, will see an in-depth analysis of the significant changes to it at Ramada Hotel on 1st November 2017, carried out by KPMG Tax Principal Attorney at Law Suresh R.I. Perera.

Dushni Weerakoon appointed as new Executive Director of IPS

Dr. Dushni Weerakoon has been appointed as the Executive Director of the Institute of Policy Studies of Sri Lanka (IPS).

Lankan electronics and electrical sector seeks opportunities in Vietnam and Thailand

Sri Lankan companies have gained more than 20 business leads, about 10 business alliances, joint venture opportunities coupled with market exposure, and are studying new trends in technology and innovation by participating in the exposure visit cum business matchmaking programmes to Vietnam and Thailand.

The LVL Energy Fund – A company at the forefront of Sri Lanka’s energy industry

A subsidiary of Lanka Ventures – a leading Sri Lankan venture capital company, the LVL Energy Fund is a limited liability company that invests in renewable and thermal power projects across Sri Lanka 

Fashion Bug awards Roo Siththam 2017 winners

The award ceremony of Roo Siththam, the annual all island art competition organized by Sri Lanka’s leading fashion destination, Fashion Bug, was held recently in two stages; Colombo and Kandy

SLIM holds Certification Ceremony 2017 in a splendid manner

Sri Lanka Institute of Marketing (SLIM) held its Certification Ceremony recently to recognize and award students who have successfully completed the SLIM programmes; Preliminary Certificate in 

Vista Rooms partners with handy to empower hotels with free smartphones

Vista Rooms, South Asia’s largest chain of affordable stays, has partnered with handy to provide its network of hotels with free smartphones, allowing guests to enjoy unlimited international calls

Sampath Bank Introduces the First Banking Robot in Sri Lanka

Robotics enabled by artificial intelligence and machine learning is proving to be a game changer that will bring unique operational efficiencies to the financial service industry, worldwide.

Mobitel’s Cash Bonanza Montero Extravaganza drives away with a brand new Montero

The National Mobile Service Provider, Mobitel’s Cash Bonanza Montero Extravaganza programme continues to reach unprecedented heights in September, witnessing a growing numbers of customers 

Sri Lanka gets US $ 73mn concessional funding from SFD

Saudi Fund for Development (SFD) has granted two concessional loans worth US $ 73 million to Sri Lanka for higher education and water resource management sectors, a Finance Ministry communiqué said.  

Fate of over half of 2017 budget promises unknown: think tank

Just 3 percent of the brand new, large expenditure promises in the 2017 budget were on track or ahead of schedule at the end of the first half of this year, and the government has failed to provide information on more than half of the promises, according to the Colombo-based think tank 

Local-foreign consortium buys 45% stake in Ascot for Rs.241mn

A consortium of local and foreign investors yesterday purchased a significant stake in the property development and hospitality holding company Ascot Holdings PLC (Ascot), as the firm’s two largest shareholders exited.

Wider income disparities among urban, rural and estate sectors

Although the rising household incomes have trimmed the country’s inequality to a certain degree, the wider disparities remain in incomes among urban, rural and estate sectors, the latest data from the Household Income & Expenditure Survey (HIES) for the year 2016 by the Census and Statistics Department showed.  

Publicis Groupe expands its presence to Sri Lanka by launching Saatchi & Saatchi

Publicis Groupe, the world’s third largest communications company recently extended its presence to Sri Lanka by launching Saatchi & Saatchi, a full service, integrated communications company that 

Pyramid Wilmar launches Meadowlea in Sri Lanka

Pyramid Wilmar, the company behind Sri Lanka’s number one edible oil, Fortune, officially launched Meadowlea, a product of Goodman Fielder Australia and widely known to be one of Australia’s favourite spreads.

Metecno Lanka opens sixth branch in Negombo

Metecno Lanka (Pvt.) Ltd has successfully implemented its branch expansion initiative to cater to the needs of the Metecno Lanka’s customers  more efficiently.

Digital transformation catalyst IQ announces partnership with Ydigital Asia

Digital transformation consultancy Innovation Quotient (IQ) recently announced its partnership with Ydigital Asia, a collaboration that leverages learnings from the world’s fourth largest consumer market, Indonesia, to augment IQ’s mission to support Sri Lanka through the digital age.

Ven. Ajahn Brahm to address Lankan biz community

Ajahn Brahm Society – Sri Lanka announced that Ven. Ajahn Brahm will be in Colombo early November, and has accepted the invitation to deliver two Dhamma talks. 

Ganeshan Wignaraja to speak on China-India dynamics next week

The Lakshman Kadirgamar Institute of International Relations and Strategic Studies (LKI) will host an inaugural lecture by Dr. Ganeshan Wignaraja on ‘A Recovering Global Economy? The Dynamics of China and India in the Future of Global Growth.’ 

Leading cement brands reach settlement over trademark dispute

Tokyo Cement Company (Lanka) PLC agreed to a settlement over a suit filed against Ruhunu Lanka Cement (Pvt) Ltd in the Commercial High Court of the Western Province. 

Eimsky Business Solutions wins hat-trick of awards at NBQSA 2017

With a vision of bringing digital smartness to everyday life and a continuous drive in providing world class customizable software solutions serving multiple industries across Sri Lanka, SE Asia

Leading Cement Brands Come to Settlement Over Trade Mark Dispute

Tokyo Cement Company (Lanka) PLC agreed to a settlement over a suit filed against Ruhunu Lanka Cement (Pvt) Ltd in the Commercial High Court of the Western Province. Tokyo Cement, one of the

OPPO is all set to launch a New Selfie Expert for Sri Lanka

OPPO Mobileis all set to launch its newest Selfie Expert in Sri Lanka once again. OPPO’s latest offering will not only be the brand’s first full-screen model in Sri Lanka, but will also come equipped 

Digital transformation catalyst IQ announces partnership with Ydigital Asia

Digital transformation consultancy Innovation Quotient (IQ) recently announced its partnership with Ydigital Asia – a collaboration that leverages learnings from the world’s fourth largest consumer