DSI Sweeps 12 Awards at the National Quality &Productivity Convention 2017

With over 55 years of business excellence, DSI Samson Group proudly stands tall today as the country’s premier business conglomerate with 28 diversified subsidiaries. 

Singer launches most affordable 4K Ultra HD smart television series in Sri Lanka

Singer Sri Lanka, the country’s premier consumer durables retailer, added another innovative product to its portfolio with the launch of the ‘Singer Epic 4K Ultra HD Smart TV’ product series in Sri Lanka.

Emerald and AOD Look To Redesign Local Industry

Emerald International (Pvt) Ltd, Sri Lanka’s premier menswear brand, recently signed an MOU with the Academy of Design (AOD), Sri Lanka’s pioneer in Design Driven Innovation, to formalize their 

Gated Community Living – Becoming Popular in Suburban Sri Lanka

Sri Lanka has been rapidly developing since the end of a three-decade civil war. The political stability of the country and its infrastructure development has helped the economy progress over the last few

Modi set to go ahead with sale of Air India

Indian Prime Minister Narendra Modi is expected to give the go-ahead for the government to sell off loss-making Air India. It now has more than US $8 billion of debt — equivalent to the value of the company.

THASL wants members to rethink recruitment policies to attract millennials

The Hotels Association of Sri Lanka (THASL) is urging its members to rethink talent acquisition and management policies in order to make the leisure industry more attractive for millennials, as the tourism industry forges ahead on becoming the country’s leading income earner.

Ube Singapore ups stake in Tokyo Cement

Ube Singapore Holdings Pte. Ltd has upped its stake in Tokyo Cement Company (Lanka) PLC, a joint venture between Sri Lanka’s St’ Anthony’s group and Japan’s Nippon Coke. A disclosure by Lanka 

Singapore’s Somap to inject fresh capital to indebted Anilana Hotels

The indebted Anilana Hotels & Properties PLC said yesterday that Singapore-based Somap International Pte. Ltd. is currently carrying out a due diligence on the company to acquire 51 percent of its capital by way of an issue of new shares.

Motor vehicle registrations in May rebound; but down YoY

Vehicle registrations across most categories for May 2017 fell below levels experienced in May 2016 mainly due to new loan-to-value (LTV) ratio restrictions and higher interest rates, although registrations recorded a rebound from a slow April due to the extensive new Year holiday.

Sri Lanka Telecom Hosts ‘SLT Zero One Awards’ Ceremony

The 22nd of June 2017 saw Sri Lanka Telecom host the SLT Zero One Awards ceremony at the Grand Ballroom of Hilton Hotel in Colombo. The event was live telecast on PEO TV and all other

Nestomalt presents third car to lucky Ran Ratha Wasana winner

Nestomalt, Sri Lanka’s leading beverage brand for over five decades, announced the third lucky winner of its Ran Ratha Wasana raffle draw, Ms. B.W.C.K Jayasekara from Madawella, 

Blue Mountain wins 8 awards at the Asia Pacific Property Awards 2017

The Blue Mountain Group’s most iconic real estate development to date, Achilleion was recently recognized as one of the top three apartments in the Asia-Pacific region, at the Asia Pacific Property

Scan Products commends ‘Achievers of The Year’ recipients

The Scan Products Division, which comprises of the FMCG arm under C. W. Mackie PLC, held its Annual Sales Conference on the 5th and 6th of May , 2017 at the Club Palm Bay Hotel, Marawila.

Allianz Lanka Offers a Ray of Hope to Customers Affected By Floods

Sri Lanka faced one of the worst natural disasters in recent times in May this year. The floods and landslides had caused extensive damage to lives and property in 10 major districts around the island.

Coca-Cola Partners With Sri Lanka Red Cross For Emergency And Long-Term Flood Relief Operations In G

Coca-Cola Beverages Sri Lanka Ltd. joined hands with the Sri Lanka Red Cross Society - Gampaha Branch, to carry out intensive emergency disaster relief and rehabilitation activities following the

CB says Qatar-Gulf crisis could pose threat to remittance inflows

The Central Bank last week expressed concern over the prolonged diplomatic spat between Qatar and its Arab neighbours as the spillover effects of the development could hurt Sri Lanka’s biggest foreign exchange earner, worker remittances. 

IMF wants new Inland Revenue Bill in parliament to release third tranche

The International Monetary Fund (IMF), which held back the second tranche of the US $ 1.5 billion bailout package last year until the value-added tax (VAT) was raised from 11 percent to 15 percent, is now delaying the release of the third tranche until the government tables the new Inland Revenue Bill in parliament. 

Court refuses to vacate interim order on proposed sale of HNB shares to ADB

Business tycoon Harry Jayawardena last week managed to prevail against the attempts of the majority of the Hatton National Bank PLC (HNB) director board to vacate an interim order obtained by Jayawardena’s Stassen group to halt the process of gaining shareholder approval to issue HNB shares to the Asia Development Bank (ADB).

Step-up share transaction fee effective from today

A step-up share transaction fee structure introduced by the Colombo Stock Exchange (CSE) will come into effect today, the CSE said last week.

Laugfs forms subsidiary to carry out residential apartment projects

Sri Lanka’s diversified private sector cooking gas distributor said it has incorporated a subsidiary to undertake residential apartment complex projects.

EU to slap Google with record fine this week: sources

AFP: The European Union’s (EU) powerful anti-trust regulator will slap Google with a record fine as early as today in another European blow against a US tech giant, sources said.

Kanrich Finance Receives Carbon Conscious Certificate for Making Strides in Sustainability

Kanrich Finance has been certified as a Carbon Conscious financial services company. The certification is awarded to business entities that have calculated the footprint and have implemented 

Sampath Bank Named “Most Innovative Bank” in Sri Lanka at LankaPay Technnovation Awards

Continuing to win accolades for its spirit of innovation, Sampath Bank was recognized as Sri Lanka’s "Most Innovative Bank" at the LankaPay Technnovation Awards 2017 held on 20th June 2017.

CB keeps key rates unchanged as private credit, inflation ease

The Central Bank left its key policy rates steady for the 3rd consecutive month in June due to the signs of moderating monetary conditions and expectations of easing price levels during the medium term, but raised concerns over the heavy borrowings made by State-owned- Enterprises (SoEs) due to their deteriorating finances. 

Lanka Sathosa network gears to cross 400 branch milestone

Lanka Sathosa is preparing to cross the 400 branch mark, despite recent floods hitting nine of its outlets.

Asia markets end week on quiet note, US healthcare bill returns

AFP: Asian markets limped into the weekend, with energy firms still struggling after a bruising few days, while investors eye Donald Trump’s revised healthcare bill hoping its success will open the way for his economic agenda.

Oxford Business Group upbeat on SL future prospects

The Oxford Business Group (OBG) in its latest analysis on Sri Lanka sounded upbeat on the nation’s future prospects, but implied the need for stronger and sustainable measures to improve and maintain its competitive stance in the region.

Qatar Airways seeks up to 10% stake in American Airlines

AFP:  Qatar Airways, its Middle Eastern business pressured by a diplomatic row with neighbors, is seeking as much as a 10 percent stake in American Airlines, the US carrier said this week. The surprise investment push by Qatar Airways was disclosed by American Airlines in a securities filing Thursday saying the Qatari company planned to buy at least US$808 million in  American shares.

Rupee edges down on importer dollar demand

REUTERS: The Sri Lankan rupee traded slightly weaker yesterday as dollar demand from importers surpassed sales of the U.S. currency, after the Central Bank held the key policy rates steady as expected, dealers said.

Stocks end steady; cbank rate move, foreign buying boost sentiment

REUTERS: Sri Lankan shares closed little changed yesterday, but sentiment was positive as the Central Bank kept key policy rates steady and as foreign investors bought diversified shares such as Hemas Holdings Plc and John  Keells Holdings.