Engage, Not Sell: Embracing the Millennial Consumer

Millennials,the generation born from the early 1980s to the early 2000s, are driving a major paradigm shift in the business-consumer relationship.Currently numbering 2.4 billion people according to the 

Prestige Automobile introduces the futuristic BMW G30 5 series plug-in hybrid to the Lankan market

The all new BMW 5 series plug-in hybrid was unveiled to the Lankan marketby Prestige Automobile Pvt. Ltd., the sole authorised importer and distributor of BMW,MINI and Hyundai vehiclesin Sri Lanka,

NTB June profit growth slows over higher loan loss provisions, taxes

Nations Trust Bank PLC (NTB) reported earnings of Rs.3.05 a share or Rs.702.5 million net profit for the quarter ended June 30, 2017 (2Q17), an increase of just 2.0 percent year-on-year (YoY) amid higher loan loss provisions and taxes. 

Monetary Board suspends Pan Asia Bank’s primary dealer status

The Monetary Board of the Central Bank yesterday announced the suspension of primary dealer status of Pan Asia Banking Corporation PLC (PABC) for six months with effect from August 15, 2017.

Nawaloka Hospitals June profits soar amid higher healthcare spending

Leading private healthcare services provider Nawaloka Hospitals PLC posted Rs.83.78 million net profit for the first quarter of 2018 ended this June, up 84.82 percent year-on-year (YoY), as increased consumption of healthcare services was witnessed during the quarter due to the dengue epidemic that spread across the island.  

Shares record steepest drop in 5 months despite foreign buying

REUTERS: Sri Lankan shares posted their worst decline in nearly five months yesterday, as local investor sentiment remained muted, after a string of disappointing June-quarter corporate results. However, foreign investors bought the island nation’s risky assets, with offshore buying accounting for more than 80 percent of the session’s turnover.

Cargills June profit narrows over higher borrowing costs but top-line resilient

Net profit of Cargills Ceylon PLC group fell 2.0 percent year-on-year (YoY) to Rs.751 million or Rs.3.35 a share during the April – June quarter (1Q18) due to higher finance costs stemming from fresh borrowings made and the rising interest rates, the interim financial accounts of the company showed.  The retail giant, which also has commercial banking operations under an associate company, reported a revenue of Rs.22.9 billion compared

Manufacturing and services sector activities expand in July

Sri Lanka’s manufacturing and services sector activities measured by Sri Lanka Purchasing Managers’ Index (PMI) expanded in the month of July, albeit at a slower rate, according to the Central Bank of Sri Lanka.

CB sets record straight on NPP

The Central Bank said yesterday that the proposed National Payment Plan or any other payment platform, such should be regulated as done in other parts of the world.

All FACETS stalls sold out

The organizing committee of the FACETS International Gem and Jewelry Exhibition announced that all stalls have been sold out at the upcoming exhibition, which is set to begin on 31st August to 3rd September at the BMICH. 

Millennium Project holds inaugural foresight analysis workshop

Asanga Abeyagoonasekera who was appointed as the Sri Lanka node chair by Millennium Project Washington, conducted his first workshop in Colombo on August 8th. 

Sri Lanka Retail Forum 2017 to kick-start next month

The Sri Lanka Retail Forum 2017, is scheduled to take off on 13th of September in Colombo, under the theme ‘Winning the New Consumer: Energizing Retail’.   The Forum will be the Retail industry’s premier event.

High-ranking Customs officials to attend NCC forum

The National Chamber of Commerce of Sri Lanka in collaboration with Sri Lanka Customs will conduct a business forum with a team of high-ranking officials of Sri Lanka Customs on August 23rd from 3.00 p.m to 5.00 p.m at the National Chamber Auditorium, Colombo-10.

EDB to conduct seminar on ‘Digital Doors to Trade’ for exporters

The Sri Lanka Export Development Board (EDB) is organizing a half day seminar on “Digital Doors to Trade” for Sri Lankan exporters on consumer items to create an awareness on Business-to-Business (B2B) and Business-to-Consumer (B2C) digital trade platforms.  The seminar will be held on August 29th  from 9.00 a.m. – 1.00 p.m. at the  EDB auditorium.

Sri Lanka’s first online booking platform launched for service-oriented businesses

It is presumed that on average a Sri Lankan can lose up to 50 working hours per year on waiting time for core service offerings. 

Maliban launches ‘ABC Learnies Biscuits’

Maliban recently launched their latest custom-made biscuit for children. Kids in the age group of 3 years and above enjoyed a spelling activity using the alphabet shaped biscuits at the La Petite Fleur House of Children Ratmalana on August 9th. 

Kandurata introduces revolutionary car umbrella

A revolutionary car umbrella has been introduced to the Lankan market by the country’s premier umbrella manufacturer, Kandurata umbrellas. 

Sritrims unveils 2018 fashion accessories collection in London

 Sritrims (Far East) Ltd Hong Kong recently unveiled their summer 2018 fashion accessory collection in London, UK.

Softlogic Prizm TVs extend line-up of large screens for size buffs

Size does matter in television, in recognition of which, retail giant Softlogic has launched two new large screen TV models in its ‘Softlogic Prizm’ portfolio, enhancing choice and affordability for TV buffs.

PickMe brings luxury to fingertips with ‘PickMe VIP’

Sri Lanka’s fastest growing, homegrown taxi hailing service PickMe recently debuted its newest feature ‘PickMe VIP’ which is a fleet chauffeur-driven, luxury cars that cater to premium clients and corporates. 

Book your appointment early and save time with easybooking.lk

It is presumed that on average a Sri Lankan can lose up to 50 working hours per year on waiting time for core service offerings. These include finance, government services

Takas.lk teams up with Visa to offer exclusive discounts on 13000 products

Takas.lk, one of Sri Lanka’s largest Electronics Mall, and Visa, the global digital payments technology network, have teamed up to announce a new campaign to offer all Visa cardholders 12.5 % discount 

Finance Ministry says will continue with SVAT

Cabinet approval was granted this June to abolish SVAT on January 1, 2018 subject to parliamentary approval. The SVAT abolishment was originally scheduled to become effective from April 1, 2017.  

‘Print owners’ get-together’ to be held on Friday

Sri Lanka Association of Printers will be holding their annual ‘Print Owners’ Get Together’ from 6.30 p.m. on Friday 18th August, 2017 at the Ball Room of Taj Samudra Hotel, Galle Face, Colombo 3.

DFCC Bank supports Colombo International Tea Convention

Upholding its commitment to the country’s business community, DFCC Bank has moved forward to support the Colombo International Tea Convention which was held from 8th to 11th August, as a strategic partner. 

Hemas 1Q net flat amid subdued consumer demand

Diversified conglomerate Hemas Holdings PLC to a certain extent was able to weather the slowing consumer demand during the March-June quarter (1Q18) thanks to a strong show by its hospital and logistics and maritime operations.

Rupee edges down on importer dlr demand

REUTERS: The Sri Lankan rupee ended slightly weaker yesterday as dollar demand from importers outpaced the selling of the U.S. currency by banks and exporters, dealers said.

SL prone to debt shock until energy pricing mechanism in place: IMF

Sri Lanka’s likelihood of experiencing a debt shock via state-owned enterprise (SOE) contingent debt may remain high until at least September 2018 due to delays in implementing energy sector cost-reflective pricing formulae, an International Monetary Fund (IMF) country report said last week.

ICTA head Canagey resigns; says President wanted him out

Muhunthan Canagey, who had served as the Managing Director/CEO of the government’s information technology facilitation arm, the ICT Agency (ICTA) since 2015, resigned yesterday upon the insistence of President Maithripala Sirisena.

ComBank June profit up 18% on higher loans but margin pressure seen

The slowing appetite for new loans amid higher interest rates appeared to have had limited impact on Sri Lanka’s largest private lender by assets as the bank had little trouble in growing its assets faster than most of its competitors, which supported the bottom line of its most recent quarter.