Tapie affair: Lagarde takes hit but support holds at IMF

AFP - Ordered to stand trial in France, IMF chief Christine Lagarde is counting on the broad support and high esteem she enjoys at the global institution as she faces a tough legal ordeal at home.

Rupee edges down on importer dollar demand

REUTERS - The Sri Lankan rupee fell to near its record low yesterday due to importer dollar demand, with currency dealers expecting the currency to weaken further in 2016 due to lower reserves and higher imports.

Oil heads for third straight weekly loss as supply weighs

REUTERS: Oil prices edged higher yesterday as investors closed positions ahead of the end of the year though crude was still heading for a third weekly loss in a row, its longest losing streak in four months.

Rotary holds Grand Banquet to honour first Lankan Head

Hilton Colombo was the venue on Sunday of a special gathering of the elite of Sri Lankan society as Rotary Sri Lanka honoured K.R. Ravindran as he visited the country as the Rotary International President - the first Sri Lankan to hold this prestigious office.

AIA unveils a smashing wall mural

If passing through Vauxhall Street in the evening, you are bound to see the neighbourhood kids playing some serious street cricket. Armed with not much other than undeterred grit, impressive skill and striking confidence, these kids firmly believe they will make the Sri Lanka national team someday.

KPMG’s Aasif wins 2015 CA Student Best Speaker Contest 1st place

Aasif Moujood of KPMG’s Management Consultancy Division, won the first place whilst Farhath Sulaiman of KPMG’s Audit Division, won the second runner-up place and Gayashi Amarasekara, part of KPMG’s Audit Division, was selected within the top five finalists at CA Student Best Speaker Contest 2015 held recently.

Atlas fosters creativity in young minds

Atlas, the market leader in school stationery, in having at heart the mission of inspiring and inculcating creativity in children, concluded yet another engaging weeklong event for children and families that visited the National Zoological Gardens.

Pan Asia Bank holds evening of Christmas Carols

Pan Asia Bank recently organised an evening of Christmas Carols to celebrate the spirit of the season. At this event, which was held at 

BOC to offer 2000 Ran Kekulu scholarships

Sri Lanka’s No.1 children’s savings account Bank of Ceylon (BOC) Ran Kekulu offers 2000 scholarships each worth of Rs.10,000 for 2015 grade five scholarship achievers for the 14th time. 

Fed raises rate for first time in nearly a decade

AFP: The Federal Reserve announced Wednesday its first interest rate increase in more than nine years in a landmark move signaling the US has finally moved beyond the 2008 crisis.

Weary plantations urge trade unions to be reasonable

Planters Association of Ceylon (PA) which represents Regional Plantation Companies (RPCs) urged the trade unions yesterday for a reasonable approach to the ongoing plantation sector daily wage negotiations

Vehicle registration drive continues into November on pre-budget factors

Vehicle registration momentum continued into the month of November largely due to an expected surge prior to a budget announcement and the relaxation of Loan to Value (LTV) rule, a report compiled by equity brokerage JB Securities said.

Govt. yet to figure out ideal tax formula on imported vehicles

Although a greater effort has been made by the authorities to expand tax collection to avoid a debt default in the medium term, the head of a Colombo-based research house/equity brokerage said governments are yet to perfect the formula of optimally taxing imported vehicles.

Sri Lanka to sign MoU with Turkey’s Exim Bank for US $ 350 mn credit facility

Sri Lanka is to sign a Memorandum of Understanding (MoU) with Turkey’s Export-Import (Exim) Bank for a US $ 350 mn credit facility. The Cabinet has given its approval to Finance Minister Ravi Karunanayake to proceed with it.

Access Engineering shines at Business Today Top 25 & CIMA LMD 100 awards

?Access Engineering PLC was recognized at Business Today’s ‘Top 25’ for being one of the Best corporates in the list of the Top 25 Companies in Sri Lanka and at the CIMA-LMD 100 Awards with the Construction and Engineering Sector Award. 

Johnson’s baby cologne now in 3 familiar fragrances

For over 125 years, globally trusted and the most loved baby care expert, Johnson’s pave the way in the baby care category by re-launching its baby cologne range with the familiar fragrance and with the promise of triple baby protection for being safe, mild and effective.

Abstract unveils “Feel the rhythm” festive collection and launches new website

?Abstract, Sri Lanka’s one-stop destination for the latest in stylish and trendy fashion officially unveiled their new collection “Feel the Rhythm” featuring a plethora of festive clothing and accessories to celebrate the holidays in style. 

Suren Cooke Agencies conducts training program on use of Pulsfog fogging machines

?Suren Cooke Agencies conducted a full-day training programme on the use of hand held and vehicle mounted fogging machines to the National Dengue Control Unit. 

TURRET celebrates range of top global brands at Christmas Atelier

The weekend of December 05th & 06th saw TURRET present its glamorous range of luxury products at the launch of the first-ever Quintessentially Lifestyle Christmas Atelier in Sri Lanka where the most exclusive...

Consumer demand to slow down in 2016

Regressive taxes, rising inflation and slowdown in credit amid rising interest rates will result in lower consumer demand in 2016, dealing a considerable blow to corporate Sri Lanka, according to top economists. 

Foreign Ministry to set up ‘Knowledge Platform’ to pursue economic diplomacy

?A ‘Knowledge Platform’, an online Internet information platform to promote economic diplomacy, would be launched by the end of the first quarter of 2016, Foreign Affairs Deputy Minister Dr. Harsha de Silva said. 

EDB to help establish 1000 start-ups

Sri Lanka will soon witness a surge in entrepreneurial-based businesses as the apex agency for the promotion and development of exports in the country said it was looking to establish 1000 start-ups

Singer Sri Lanka in Rs.3bn debt issue

Singer Sri Lanka PLC, a leading white goods retailer in the country, said it was raising Rs.3 billion via a proposed debt issue.

Rupee ends steady amid thin trade

REUTERS: The Sri Lankan rupee snapped three straight sessions of losses when it touched record lows to end steady yesterday, as dollar conversions by exporters offset thin importer demand for the greenback, traders said.

CSE announces changes to S&P SL20

The Colombo Stock Exchange (CSE) yesterday announced the changes in S&P Sri Lanka 20 (S&P SL20) index constituents made by S&P Dow Jones Indices at the 2015 annual index rebalance. 

People’s Insurance Rs.750mn IPO oversubscribed

The Rs.750 million Initial Public Offering (IPO) by People’s Insurance Limited was oversubscribed yesterday, the company informed the Colombo Stock Exchange (CSE).

Cross showroom opens at Liberty Plaza

?December 7 marked the opening of an exclusive Cross showroom showcasing the range of Cross products and accessories at Liberty Plaza. 

Photo Technica offers splendid festive bonanza

?In a festive bonanza to its customers, the dedicated service team of Photo Technica is offering fantastic discounts in this season of good cheer. 

ComBank celebrates Christmas with carol service

?Staffers of Commercial Bank of Ceylon (ComBank) displayed another facet of their versatility recently, when they celebrated the advent of Christmas at the bank’s annual carol service. 

LG Curved OLED TV offers 4K content, side viewing experience

?The LG Curved OLED TV is an unforgettable experience, like flying First Class on a supersonic airplane, indulging in the finest champagne or sipping a 30-year-old whisky. It’s enjoying one of the finer things in life.