Laugfs Lubricants CEO wins People Leader Award

Demonstrating the inspirational leadership strength of Laugfs, Laugfs Lubricants CEO Niroshan J. Pieries clinched the prestigious IPM People Leader Award 2017 in the marketing category at the recently held IPM National  HR conference. 

Represent your corporate at national Mercantile eSports event

For the second consecutive year, Gamer.LK is bringing the thrill of competitive video gaming to your workplace with the Mercantile eSports Championship – powered by Dialog Gaming. 

Mastercard Launches Several New APIs for Developers

To meet the growing business demand for consistent, seamless and secure commerce, Mastercard Developers has releasedseveral new APIs to supplyfinancial institutions

DFCC Bank relaunches ‘Vardhana Junior’ children’s savings account

DFCC Bank re-launched “Vardhana Junior” recently to strengthen its position as one of the leading minor savings products in the country, adding special features such as an exciting array of valuable 

Blue Mountain Apartments breaks ground for ‘Avalon’ in Colombo 5

Blue Mountain Apartments recently held the ground-breaking ceremony to commence construction of ‘Avalon’, an affordable luxury apartment complex with 18 units, located in Somadevi Place, Colombo

‘Suncity@116’ – The pride of Moratuwa

A prominent presence in the construction industry for over two decades, Suncity Property Developers proudly launches ‘Suncity@116’, a luxury apartment project in Moratuwa at 116, Rawatawatta Road

Govt. to sneak in capital gains tax under new Inland Revenue Bill

The highly controversial capital gains tax, which was put on the back burner for little over a year, is now making a comeback as part of the new Inland Revenue Bill, as the cash-strapped coalition regime, burdened with massive debts, attempts to shore up its revenues.   

Rupee edges down on importer dollar demand

REUTERS: The Sri Lankan rupee ended weaker yesterday as late importer dollar demand surpassed sales of the greenback by exporters and banks earlier in the session, dealers said.

Shares slip from 18-month high; John Keells drags

REUTERS: Sri Lankan stocks ended slightly weaker yesterday, down from an 18-month high hit in the previous session, as investors sold blue chip shares such as John Keells Holdings PLC, brokers said. Analysts said concerns over a proposed tax bill weighed on overall investor sentiment. But foreign investors continued to snap up the island nation’s risky assets.

Another minister dumbfounded by SL’s peculiar booze laws

Hot on the heels of Finance and Media Minister Mangala Samaraweera calling for the restrictions on the sale of alcohol on certain days to be liberalized, Finance State Minister Eran Wickramaratne said he was stunned to find out that women cannot legally purchase liquor in Sri Lanka. 

Tea Board Chairman slams unwieldy govt. bureaucracy for sad state of affairs

Suffocating government bureaucracies and processes were lambasted by the Sri Lanka Tea Board Chairman, drawing an equally emotional response from the Finance State Minister at the Colombo Tea Traders’ Association (CTTA) annual general meeting held last week.

Auto agents say will continue to lobby govt. over short-sighted, discriminatory policies

The Ceylon Motor Traders’ Association (CMTA) said that it would continue to lobby the government with regard to the discriminatory, short-sighted and ad hoc policy changes, which keep on hurting the country’s legitimate auto industry. 

Economic Summit to discuss importance of ‘walking the talk’ to realize greener growth path

The importance of Sri Lankan businesses aligning its growth plans with greener practices to help develop a ‘sustainable era,’ will be discussed intensely at the upcoming Sri Lanka Economic Summit 2017.

Tunisian envoy discusses bilateral issues with National Chamber

Nejmeddine Lakhal, Ambassador of the Republic of Tunisia based in New Delhi with the President of the National Chamber, Sujeeve Samaraweera, at the Chamber 

Maliban celebrates 150 years of Ceylon Tea around the world

The biscuit manufacturer with a heritage of over 65 years joined hands with The Ceylon Tea Board in celebrating 150 year anniversary worldwide. 

Verité Research works with regional businesses to address policy issues

Verité Research is a private interdisciplinary think tank engaging in strategic analysis and policy reform. 

Electronic Device Ban Fully Lifted On Flights From Abu Dhabi To The United States

“We welcome the decision by the US Department of Homeland Security to lift the electronic devices ban on flights between Abu Dhabi and the United States, following the successful validation

Cooking made easy – get 3 scrumptious curries from a single pack of Sera coconut milk

Though there are many distinct features of Sri Lankan cuisine that set it apart from culinary styles across the world, the one, surefire ingredient that adds an authentic

Win big with mCash concludes with prizes and surprises worth millions

The National Mobile Service Provider, Mobitel’s mobile money platform, mCash rewarded the winners of its special “Pay Bills with mCash to Win Big” promotion for its customers. In the promotion, mCash 

Deshal to join Finance Ministry

Economist Deshal de Mel, who was working for businesses controlled by tycoon Dhammika Perera, will be trying his hand at public service by joining the Finance Ministry as an Economic Advisor, Mirror Business learns. 

June inflation edges up to 6.1%

The Central Bank’s preferred gauge of inflation, the Colombo Consumer Price Index (CCPI), in the month of June rose by 6.1 percent from a year earlier, picking up from 6.0 percent in May, according to the data released by the country’s statistics office.

Dinesh appointed to HNB board

Former Commercial Bank Chairman Dinesh Weerakkody has been appointed to the board of Hatton National Bank (HNB) as a Non-Executive Non-Independent Director with effect from June 29, 2017, according to a filing with the Colombo Stock Exchange. 

Watawala to spin-off tea business

Watawala Plantations PLC (Watawala), a part of the Sunshine group, will be segregating its tea business in order to list it under a new company on the Colombo Stock Exchange, a disclosure to the trading floor of the bourse said.

Sampath Bank to raise Rs.6bn via convertible debentures

Sampath Bank PLC last week announced plans to issue debentures to raise up to Rs.6 billion in view of the BASEL III capital adequacy rules and also to support growth. 

Tepid response for Fairway Holdings mandatory offer on Multi Finance

The mandatory offer made on the balance shares of the troubled Multi Finance PLC by its majority shareholder, Fairway Holdings (Pvt) Limited, ended last week with very little response from the minority shareholders.

ICC streamlines issuing Carnet permits

The International Chamber of Commerce Sri Lanka (ICCSL), the sole authorized entity in the country to issue ‘ATA Carnets’, has streamlined the issuing of the permits by reemphasizing that the ATA Carnet is the perfect choice for  a hassle-free importation of goods via the Customs. 

Sri Lanka–Italy Business Council holds 18th AGM

The Sri Lanka–Italy Business Council of the Ceylon Chamber of Commerce held its 18th annual general meeting (AGM) at the Ceylon Chamber of Commerce recently.

IFAD US $ 33.7mn financial assistance to implement SAP Programme

The International Fund for Agricultural Development (IFAD) and Government of Sri Lanka signed the financial agreement recently for the implementation of the Smallholder Agribusiness Partnership (SAP) Programme.

FCCISL-CH17 Loyalty launch Privilege Programme

The informal micro sector and small and medium entrepreneurs (SMEs) will soon get a ‘shot in the arm’ to boost their businesses through a combined initiative of Commercial Bank, Sri Lanka Telecom (SLT) and the programme initiator CH17 Loyalty in association with the Federation of Chamber of Commerce and Industry (FCCISL).

Sri Lanka signs ground-breaking agreement for Asia’s tallest tower

The World Capital Centre (WCC) signed a US$ 2 billion investment agreement with the Board Of Investment (BOI) yesterday, for the much hyped and long awaited tallest building in the Asian region and the 9th tallest to be in the world.