Leo Burnett ranked 3rd at AdFest 2017

Leo Burnett Asia-Pacific recently was ranked the third most awarded agency at AdFest 2017, which took place in Thailand. 

Foreign investors to take part in ‘Sri Lanka Investment Business Conclave 2017’

Foreign investors already registered to take part in the upcoming Sri Lanka Investment and Business Conclave 2017 have shown interest in the areas of agriculture, export manufacturing, infrastructure development, port development, power and energy, telecommunications and related services and tourism and leisure. 

Pathfinder Foundation seeks to enhance Indo-Lanka connectivity

The Centre for Indo-Lanka Initiatives of the Pathfinder Foundation, in partnership with New Delhi-based Carnegie India and Vivekananda International Foundation, conducted a conference aimed at enhancing connectivity between India and Sri Lanka last week in Colombo. 

Tourist arrivals to Maldives down 2.1% in March

Tourist arrivals to the Maldives, where several Sri Lankan hospitality companies have set up operations, fell 2.1 percent year-on-year (YoY) in March 2017 to 112,665 tourists, while increased arrivals for the first three months of the year were weighed down by shorter holidays.

NDB March quarter profit up on higher loans, margins and lower loan impairments

The National Development Bank PLC group (NDB) reported earnings of Rs.737.5 million or Rs.4.46 a share for the January – March (1Q17) quarter, up 35 percent year-on-year (YoY), the interim financial accounts released to the Colombo Stock  Exchange showed.  

NCC organises seminar on CSE amendments to listing rules

The National Chamber of Commerce (NCC) in association with the Colombo Stock Exchange (CSE) will hold a seminar on CSE proposed amendments to listing rules on Friday, May 19, 2017, from 9:30 a.m. to 11:30 a.m., at the National Chamber Auditorium, No: 450, D.R. Wijewardene Mawatha, Colombo 10.

Amana Bank to raise Rs.4.7bn to meet core capital requirements

Amana Bank PLC, Sri Lanka’s first non-interest-based Islamic bank, which was in extensive talks with some prospective foreign parties to obtain fresh capital, now appears to have returned to its own shareholders, seeking support to meet the interim minimum core capital target given by the regulator. 

Laugfs LPG terminal in Hambantota on track for commissioning in 2018

One year into the construction of the Laugfs LPG import and export terminal in Hambantota, the first phase with a 30,000 metric tonne (MT) capacity is progressing well on schedule to be commissioned by the first half of the 2018 financial year as planned, a company statement said.  

Sri Lanka patronizes to handover Asia Pacific region development report to UN

The report for the development in Asia and the Pacific region is scheduled to be handed over to the United Nation with the patronage of Sri Lanka. 

‘MyShop.lk’ among top 3 retail services under e-commerce brands in Sri Lanka

Myshop.lk, one of Sri Lanka’s youngest and fastest growing e-commerce websites, was recently ranked as the 8th best e-commerce brandand one of the top 3 in retail services in Sri Lanka by LMD’s Brands Annual 2017 Edition.

Takeda Awards call for applications

The Takeda Foundation calls for applications for the Takeda Young Entrepreneurship Award.The Application Period is from April 1 to July 31. The Award targets young entrepreneurs or 

SLID presents panel discussion on risk management on May 25

‘No risk, no gain’ is a popular slogan. Although board members, senior managers and shareholders know that there are strategic advantages to taking risks in a business environment and that realizing growth requires taking a certain degree of risk, it is essential to strike a balance. 

Grundfos water booster pump enters Lankan market

Grundfos, one of world’s leading water pump manufacturing companies based in Denmark, which has been in Sri Lankan market for more than 20 years, served the industrial sector with many solutions. 

February trade gap hits record high as exports dip, imports jump

Sri Lanka’s fragile external sector continued to bleed as the most recent data showed a decline in exports and a spike in imports as the country’s oil bill more than doubled in February, deepening the massive hole in the country trade balance during the first two months of this year. 

SL’s key ports handle record cargo traffic, ships in 2016

Sri Lanka’s port services turned in a record performance in 2016 by attracting the highest number of ships and cargo traffic to the country.

Exporters hail govt.’s efforts toward regaining GSP Plus

The Exporters Association of Sri Lanka (EASL) yesterday welcomed the efforts of the government to secure the vote from the EU parliament to regain GSP Plus tariff concessions for Sri Lanka exports entering the European Union.

Banking sector capital levels slip amid record private credit in 2016

Record levels of private credit extended in 2016 has resulted in further slippage in capital adequacy ratios (CARs) of the Sri Lankan banking sector ahead of 

SAPPTA hails govt.’s move to postpone abolishment of SVAT

The Spices and Allied Products Producers’ and Traders’ Association (SAPPTA) yesterday welcomed the government’s decision to postpone the abolishment of Simplified Value Added Tax (SVAT) system as proposed in the budget 2017.

Shares end flat; foreign investors turn sellers

REUTERS: Sri Lankan shares were largely unchanged in thin trading, near an 11-month high yesterday, as foreign investors turned net sellers for the first time in 26 sessions while blue chips saw profit-booking after a prolonged rise.

Moscow invites SL for Russia’s Davos

Sri Lanka has been given a fresh opportunity to showcase its investment and export portfolios to the emerging markets as well as the huge Russian region through a premier global forum, dubbed as Russia’s Davos. 

Fitch affirms Singer Sri Lanka at ‘A-(lka)’; Outlook Stable

Fitch Ratings has affirmed Sri Lanka-based consumer durables retailer Singer (Sri Lanka) PLC’s National Long-Term Rating at ‘A-(lka)’ with a Stable Outlook. 

Dunamis Capital and listed subsidiaries change board

Manjula Mathews, Executive Chairperson of Dunamis Capital PLC and its listed subsidiaries – First Capital Holdings PLC and Kelsey Developments PLC, has retired from her post with effect from April 30, 2017. 

Japanese company introduces domestic insanitary water cleaning system

Omegaa Johkasou Engineering Lanka Private Limited can be considered as an amazing company which is famous for approaching new inventions that can help improve the life style of ours. 

LMD ranks Atlas as No. 1 ‘Most Loved Brand’ in Sri Lanka

The name Atlas, conjures much nostalgia, many memories and so much love amongst young and not so young homes, schools, offices and communities across Sri Lanka. Many successful professionals and entrepreneurs look back in life to acknowledge that Atlas played a critical and inspirational role in their journey of success. 

Ceylon Tea Brokers announces two new appointments

Ceylon Tea Brokers PLC has announced two new appointments with effect from 1st May 2017, following the resignation of Suranga Perera from the post of Chief Executive Officer. 

UK finance magazine names Sunshine Holdings ‘Most Innovative Holding Group’

In recognition of using high-tech applications in Sri Lanka’s agribusiness sector, launching of new innovative brands, ensuring high standards of customer service and strong client relations, Sri Lanka’s diversified conglomerate, Sunshine Holdings was awarded ‘Most Innovative Holding Group’ by Global Banking and Finance Review – the leading financial and banking magazine in the United Kingdom. 

Korea Eximbank to collaborate with ADB to draw CTEC blueprint

The Export-Import Bank of Korea (Korea Eximbank) signed an aide memoire with Asian Development Bank (ADB) and the Government of Sri Lanka (GoSL) recently, marking the launch of ADB-KSP Joint Consulting to support the GoSL in drawing a blueprint for the Colombo-Trincomalee Economic Corridor (CTEC). 

Green Scape Coir Exports leads way in exporting local coir

Green Scape Coir Exports (Pvt) Ltd, the brainchild of K.A.D.C Silva was established in 2007 with the objective of manufacturing and exporting coir products from Sri Lanka. 

We Love Mum Brunch at Hilton Colombo, A Dining Experience As Unforgettable As She Is

Nothing says “Thank You, Mum” like a gastronomical experience set in the contemporary chic GRAZE Kitchen Restaurant,Hilton Colombo. 

March motor vehicle registrations rebound

Vehicle registrations demonstrated a strong rebound in March compared to the previous two months, despite the monetary impediments slapped to discourage private motor vehicle purchases.