Rs.1 lakh turns into Rs.1mn for DLB lottery winners

For decades the Development Lotteries Board (DLB) has been dedicated to uplifting the lives in Sri Lanka and has contributed to the development in the country through its marketing and corporate social responsibility (CSR) endeavours. Recently it made a record-breaking change and relaunched the popular product Lakshapathi by rebranding it as Dasalakshapathi. The objective of revitalizing the brand is to offer the loyal consumers greater opportuni

EFL celebrates 35th anniversary as global logistics provider

Leading logistical services provider Expolanka Freight (Pvt.) Ltd celebrates its 35th anniversary today.

Singer launches much-awaited Avurudu offers

Singer Sri Lanka, the country’s leading retailer in consumer durables, launched its special Avurudu offers for the upcoming Avurudu season. 

National Chamber’s ‘Meet the Minister’ to feature John Seneviratne

The National Chamber of Commerce will host the  Minister of  Labour and Trade Unions, , on   ‘Meet the Minister’ programme for an interactive session with the business community, on April 6, from 3.00 p.m. to 4.30 p.m. at the Chamber Auditorium,  Colombo 10.

Economic Assn. to hold seminar on power sector challenges

Sri Lanka Economic Association in collaboration with Department of Economics, University of Colombo, is organizing a seminar titled ‘Emerging Challenges in the Power Sector in Sri Lanka.’ The event will be held on March 23 at the Department of Economics Auditorium, University of Colombo.

Private sector calls for more transparency in H’tota port deal

The private sector last week expressed concerns over the government’s ‘iron curtain’ with regard to the Hambantota port sale agreement and called for more transparency and the involvement of local businesses in the venture.

Singer Sri Lanka mulls setting up new production facilities at BoI zones

Consumer durables giant Singer Sri Lanka PLC is currently negotiating the construction of new production facilities at the Board of Investment (BoI) industrial zones as part of the group’s long-term strategic plans, a leading official said.

Shares edge down on rate hike concerns ahead of review

REUTERS: Sri Lankan shares edged down yesterday, hovering near a one-year closing low hit last week, as expectations of a rate hike continued to weigh on sentiment. The Colombo stock index fell 0.1 percent to finish at 6,041.17, near its lowest close since March 16, 2016 hit on Thursday. The bourse fell 0.6 percent last week, posting its fourth straight weekly decline.

D Tech and LK Simulation enter into reality services agreement

D Tech (Pvt.) Ltd and LK Simulation (Private) Limited (LKSIM) announced their partnership to strengthen their capabilities to deliver enhanced value to customers. 

CCC’s innovation strategy event to discuss digital investment related decision making

Partner at McKinsey and Company (London) Ganaka Herath, Deputy Chairman of John Keells Holdings Ajit Gunawardena, Senior Director of Sampath Bank Sanjiva Senanayake, and CEO of Fair First Insurance Sanjeev Jha will discuss how corporates can get smarter on making decisions on digital investments at the upcoming ‘Future of Business’ innovation strategy and learning event of the Ceylon Chamber of Commerce.

Pelwatte butter set to make Avurudu dishes tastier

When the month of April approaches anticipation rises in preparation for the Sinhala and Tamil New Year. 

CB under pressure to increase rates further this week

Sri Lanka’s Central Bank is now to be under immense pressure to jack up the policy rates as early as this week as the economy appears to be facing another balance of payment (BoP) crisis in less than a year since it averted one with the help of the International Monetary Fund (IMF) last year. 

PUCSL introduces new regulations on constructions closer to power lines

Sri Lanka has introduced new regulations with regard to the minimum gap that needs to be maintained between power lines and buildings to ensure the safety of consumers and the properties .

CIM Sri Lanka partners with TabZ to boost knowledge and expertise

The Chartered Institute of Marketing Sri Lanka entered into a partnership with TabZ by DPJ Holdings - Apple authorized reseller to further strengthen the knowledge and expertise in the respective fields. The parties are desirous of entering into this MOU to declare their respective intentions, and to create value for both parties through combined efforts and positive collaboration. 

Colombo Shopping Festival to kick start on April 7

The Colombo Shopping Festival is the most awaited, most talked about and the most exciting shopping festival in Colombo happening in this festive season.  

CIMA Sri Lanka holds first convocation for the year

CIMA Sri Lanka’s first convocation for the year celebrated the success of 301 students who completed exam, 379 Associate members, 11 Fellow members and 8 prize winners.  

Maggi voted ‘Youth Food Brand of the Year’ at SLIM – Nielsen Awards

Nestlé’s Maggi brand was voted ‘Youth Food Brand of the Year’ for the fourth time by young consumers at this year’s SLIM-Nielsen Awards. 

Fifty fully-equipped Lanka Sathosa outlets to be opened this month

Creating history in Sri Lanka’s FMCG retail market, the country’s state owned large scale retail network is to shift its expansion gears to high speed on March 28, and the race starts with the largest number of openings of Lanka Sathosa brand outlets across Sri Lankan market within a 24-hour short period. 

Nolimit extends support to JAAF’s apparel employee welfare programme

Nolimit has renewed its support for Sri Lanka Apparel’s employee welfare programme for yet another year reaffirming the Brand’s commitment and obligation towards the welfare and wellbeing of the garment employees, 

Unit trust industry survival at stake as tax concerns loom large

Sri Lanka’s unit trusts, once a blessed industry with lax taxes, is likely to be in for a rude shock with the proposed imposition of a slew of new and increased taxes, which will soon find their way into the industry, threatening its survival.  

LOLC acquires controlling stake in Cambodia’s PRASAC Microfinance

LOLC International Private Limited, a wholly owned subsidiary of Lanka Orix Leasing Company PLC (LOLC), together with Hong Kong’s largest independent bank, The Bank of East Asia Limited (BEA), have acquired the majority stake in PRASAC Microfinance Institution Limited, Cambodia’s largest micro lender with an asset base of US $ 1.3 billion.

Harry J withdraws plans to appoint Dinesh to HNB board

Business tycoon Harry Jayawardena appears to have taken a step back in his plans to appoint former Commercial Bank Chairman Dinesh Weerakkody to the board of the country’s second largest private lender, Hatton National Bank PLC (HNB).

Lankem to raise Rs.150mn rights issue

Diversified Lankem Developments PLC has resolved to raise Rs.150 million by way of a rights issue subject to shareholder approval.

Poorest province most active in e-commerce says online store co-founder

Sri Lanka’s poorest province is the home to some of the country’s most active e-commerce users, one of Sri Lanka’s digital business founders said this week.

BRAC Lanka Finance in Rs.1.3bn cash call to fund micro-lending

BRAC Lanka Finance PLC, a LOLC group company specialised in microfinance, last week announced a rights issue in the proportion of 5 new shares for every 4 held at an issue price of Rs.10 a share to raise Rs.1.32 billion in equity capital, a stock exchange filing said. 

FinMin tells foreign investors to exploit Lanka’s opportunities

Sri Lanka has ideal investment opportunities to secure diverse business options as the country has been achieving economic prosperity through accelerating growth with social inclusion, Minister of Finance Ravi Karunanayake told an investors meeting in Hong Kong. 

Mobitel and Telecom Ministry connect with Ericsson for strategic ICT partnership

Ericssonin collaboration with Mobitel and the Ministry of Telecommunication and Digital Infrastructurehas formally signed the 5G Island of Innovation Memorandum of Understanding (MoU) in Colombo, Sri Lanka on 10th March, representing a landmark strategic ICT partnership that aims to bring 5G Internet of Things (IoT) innovation and entrepreneurship to Sri Lanka for the first time in South Asia. 

Surge in exports

A general view of Tanjong Pagar container terminal is seen in Singapore on March 17.

NEDA gears for island-wide youth entrepreneur drive

Sri Lanka’s apex State operated entrepreneurship developer, the National Enterprise Development Agency (NEDA), is now on a major youth entrepreneur drive-and the latest node in Sri Lanka’s grassroots market linkage network to start operations will be serving the small time young farmers and fisher-folk in Northern Province’s Mannar district.

World Bank indirectly backs harmful SE Asian projects: report

AFP: World Bank investments in commercial financial institutions are indirectly allowing land-grabs, evictions and pollution in Southeast Asia, a watchdog group charged in a report yesterday.