India’s Asian Paints acquires SL’s Causeway Paints for Rs.9.05bn

India’s Asian Paints has acquired Sri Lankan paint maker Causeway Paints Lanka (Pvt) Ltd. in a deal to the tune of Rs.9.05 billion, Indian media reports said.

Ease of Doing forum for PPP interaction on Thursday at MILODA

The Ease of Doing business forum, an initiative by the Ministry of Finance to fast track the business processes and maintain a continuous dialogue between the government agencies and the private sector organizations will hold its 12th forum at 2.00 pm on the 06th at MILODA, Colombo 01.

CA Sri Lanka recognizes 13 accredited learning partners

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) recently recognized 13 professional education providers as Accredited Learning Partners. 

CMA conducts discussion on capital market

An evening discussion on the capital market as a source of corporate finance was organised by the Continuing Professional Development (CPD) Committee of the Institute of Certified Management Accountants of Sri Lanka (CMA) recently, at the auditorium of the CMA

Nalin Perera appointed as CEO of Mobitel

Nalin Perera has been appointed as Chief Executive Officer (CEO) of Mobitel (Pvt.) Ltd.  He started his career at Mobitel in 2001 as General Manager Marketing and progressed to the positions of Senior General Manager Marketing and Senior General Manager Contact Centre Operations, respectively. 

FinMin meets Malaysian PM

Finance Minister Ravi Karunanayake, who is in New Delhi to participate in the Subregional Economic Cooperation Summit of South Asia, which was inaugurated in New Delhi yesterday, on the sidelines of the summit, met Malaysian Prime Minister  Najib Razak. 

Vehicle registrations continue to slump amid higher taxes, stricter financing conditions

Vehicle imports to Sri Lanka crashed in February as the prospective buyers were hit by the double whammy of higher excise duties and stricter financing conditions, dashing their hopes of owning a small car or a three-wheeler for the foreseeable future. 

Sri Lanka computer ownership falls as usage of smartphones, tabs gains

Ownership of desktops and laptops in Sri Lanka has fallen significantly in the first half of 2016 (1H16) compared to the same period in 2015 due to increased use of smartphones and tablets.

Sri Lanka 4Q unemployment falls to 4.2%

Despite the prolonged drought that was present throughout the final quarter of 2016, Sri Lanka’s unemployment fell to 4.2 percent from 4.4 percent year-on-year (YoY) and 4.5 percent in the third quarter of 2016, data from the Census and Statistics Department showed. 

Rupee ends firmer on exporter dlr sales

REUTERS: The Sri Lankan rupee ended slightly firmer in dull trade yesterday due to inward remittances and exporter dollar sales ahead of the festival season, dealers said.

“Ranil Wickremesinghe is a gentlemanly and able politician”

How many books have you written so far and where do you get the passion to right?  

Hayleys appoints Noel Joseph to director board

Sri Lanka’s most diversified conglomerate, Hayleys PLC announced the appointment of Noel Laxman Sanath Joseph to its director board.

Sri Lankan delegation taps Italian travel trade stakeholders

An interactive meeting was held between Italian travel trade stakeholders and the Minister of Tourism Development, Lands and Christian Religious Affairs John Amaratunga in Italy yesterday.

DSI Mega 2017 shopping festival opens with a bang

The ultimate shopping festival, the DSI Mega 2017, was declared open on the 1st of April.  Happening at the head office complex of D. Samson and Sons (Pvt) Ltd, at High Level Road, Maharagama, the shopping festival offers something for everyone in the spirit of the impending New Year. Organized for the second time, the Shopping festival is open to the public, with no required entrance fee. 

Samsung launches Avurudu promo offering exceptional value for customers

The Sinhala & Tamil New Year heralds in a time of celebrations for all Sri Lankans ; for Samsung Sri Lanka, it is the right opportunity to share the ‘Samsung Amazing Avurudu’ promotion with their consumers. 

Durdans invites public to open day on cosmetic care consultation

The sunny days of Avurudu are almost upon us. As temperatures and humidity soar, one of the biggest beauty challenges is finding the right cosmetic care in the sweltering conditions. 

Dr. Gamini de Silva appointed as IASSL President

Veteran lecturer and statistician, Dr. Gamini de Silva, has been appointed as the new President of the Institute of Applied Statistics of Sri Lanka (IASSL) with the objective of localization of business paradigm to suit the country and people.

Ground broken for Dusit Thani Beachfront Balapitiya

The ground breaking ceremony of the Indola Group’s and Dusit Thani Sri Lanka’s US $ 200 million beachfront project in Balapitiya took place yesterday.

Alliance Finance receives Merit award at Social Dialogue & Workplace Cooperation competition

Alliance Finance Company PLC (AFC), the third oldest finance company in Sri Lanka, recently received a Merit award in the Large-Scale category under the Services sector at the Social Dialogue & Workplace Cooperation competition organised by the Labour Department of Sri Lanka. 

Inflation hits multi-year high as March prices up 7.3%

Sri Lanka’s headline inflation hit a multi-year high of 7.3 percent in March, accelerating from 6.8 percent in February mainly due to the base effects through the recent drought and the demand push factors.

PM’s biography to be launched tomorrow

Business personality, Dinesh Weerakkody  will release his sixth book titled ‘Ranil Wickremesinghe: A Political Biography’ on April 04 at the BMICH at 5.30 pm , in the presence of the President Maithripala Sirisena, Prime Minister Ranil Wickremesinghe and Speaker of the House Karu Jayasuriya. 

Trump’s net worth dwindled to US $3.5 bn, Forbes says

REUTERS: While Donald Trump’s political fortunes were rising, his net worth was dropping to a mere US $3.5 billion, or roughly a third of what he claimed during his successful campaign for the U.S. presidency, according to the latest Forbes list of the world’s billionaires.

Top statistician says flawed surveys present ample space for distortions in national accounts

Ample space for distortions in national account estimates may exist due to shortcomings in conducting surveys, which requires constant vigilance, a leading statistician in South Asia said recently.

Cargills Bank turns a profit in FY16 amid favourable cost of funds, higher loans

Cargills Bank Limited turned a net profit of Rs.26 million for the year ended December 31, 2016 (FY16), 

Japanese PE firm buys 11% stake in Sunshine Holdings for Rs.742mn

The shareholding structure of Sunshine Holdings PLC (Sunshine), a diversified holding company, has been reshaping during the last four months or so in particular as the ownership is seen getting concentrated among a few strategic partners. 

Softlogic to help SL beat the heat with Vego air coolers

As temperatures begin their ascendance towards the seasonal peak in Sri Lanka, Softlogic Holdings is offering a way to beat the heat without the high investment and operating costs associated with traditional air-conditioning.

BPPL Holdings revenue up 19% to Rs.2.2bn

Brush manufacturer and exporter, BPPL Holdings, announced its interim unaudited financial results for the 11-month period April 2016 to February 2017. 

SMB Leasing expands geographic footprint with new Negombo branch

SMB Leasing marked a new chapter in its remarkable turnaround story inaugurating another branch in Negombo. 

Intensive week for German-Sri Lankan relations

Following the official visit of President Maithripala Sirisena to Germany in February 2016 and visits of numerous business and parliamentary delegations from Germany to Sri Lanka last year, the upcoming events of this week will again underline the growing intensity of German-Sri Lankan relations. 

Liquor licensees-Inland Revenue officials iron out VAT issues in Matara

The members of the Liquor Licensees’ Association in the south and the officials of the Inland Revenue Department ironed out the problems that have arisen with the introduction of the new value-added tax (VAT) schemes at a workshop held in Matara yesterday.