Asanga at Global Dignity in Norway

?Crown Prince Haakon of Norway invited Asanga  Abeyagoonasekera, the Global Dignity Country Chair for Sri Lanka to participate in the 5th annual global dignity country chair summit in Oslo Norway from 10 -13th May.

Silk Road Entrepreneur Council talks

?The International Chambers of Commerce ICC met in Xi’an ,Shaanxi Province, China recently to discuss on a mechanism for the establishment of a Silk Road Entrepreneur Council.

ACCA awards Ceylon Tobacco with ‘Approved Employer Status’

?The Association of Chartered Certified Accountants (ACCA) recently awarded Ceylon Tobacco Company PLC (CTC) with the Approved Employer status for Professional Development. 

CA Sri Lanka, SLASSCOM educate chartered accountancy firms on FAO

?With Sri Lanka fast emerging as a global centre of excellence for Finance and Accounting Outsourcing (FAO), a large number of practicing chartered accountancy firms were recently educated by the Institute of Chartered Accountants...

Commercial Credit Rs.1bn debenture issue snapped up

?Commercial Credit and Finance PLC’s issue of 10 million rated, subordinated, guaranteed, redeemable five-year debenture issue at a par value of Rs.100 was oversubscribed yesterday.  

Switzerland plans renewing existing trade agreements with Sri Lanka

?Switzerland says it is working towards upgrading the ‘Avoidance of Double Taxation Agreement’ and the ‘Bilateral Investment Treaty’, which the country has signed with Sri Lanka.

Keells Food Products sees FY15 profit surging to Rs.261 mn

?Keells Food Products PLC, the processed meat industry leader in the country, saw its profit surging exponentially for FY15 amid higher top line growth.

Highways Ministry to proceed with OCH 3; cuts cost by 30%

?The construction of the Phase 3 of the Outer Circular Highway (OCH 3) will go ahead as planned, sans future expansions which would save costs, according to a communiqué by the Ministry of Highways.

Finlays’ GSA arrangement with Cathay to end in December

?Finlays Colombo PLC said yesterday the General Sales Agent (GSA) arrangement it has with Hong Kong-based Cathay Pacific Airlines will come to an end with effect from December 31, 2015.

Tea exporter calls for Sri Lanka-Turkey FTA

?Sri Lanka should negotiate a Free Trade Agreement (FTA) with Turkey, according to a leading figure in Sri Lanka’s export industry. “Turkey is another of those Asian giants which sits on the middle. One side is Europe, other is Asia.

Hayleys profits surge undeterred by poor plantations’ show

?The diversified Hayleys PLC saw its final quarter (4Q15) net profit surging over 50 percent year-on-year (yoy) to Rs.887.2 million, supported by all business segments of the group except plantations.

Power Solutions and Portugal’s Grupel sign MoU for Gensets

?Power Solution South Asia (Pvt.) Ltd and Grupel of Portugal recently signed a Memorandum of Understanding (MoU), where Grupel appointed Power Solutions South Asia (Pvt.) Ltd as the authorized dealer for its generator brand Grupel. 

Papyrus-Arjowiggins show how fine papers build brand image

?The importance of fine paper as a definition of luxury even in the age of digital communication was the theme of a recent seminar in Colombo by Arjowiggins Creative Papers, the owner of the global heritage paper brand Conqueror.

CA Sri Lanka-Inland Revenue to strengthen relationship further under new Commissioner General

?Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) President Arjuna Herath recently underscored the importance of a more proactive role between CA Sri Lanka and the Department of Inland Revenue...

Eat Right introduces more healthy options to Lifestyle Menu

?Colombo’s fastest growing health food delivery, Eat Right recently added brand-new healthy meal options for breakfast, lunch and dinner on its Lifestyle Menu, in order to cater to a discerning clientele. 

CA Sri Lanka offers exemptions for AAT members following BSc. Degree in Applied Accounting

?The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) has consistently demonstrated exceptional standing as a leading tertiary education provider in the country,

State bank’s role highlighted in bond controversy report

The role played by the state-banking giant Bank of Ceylon (BoC) has been highlighted in the report of the three-member committee appointed by Prime Minister Ranil Wickremesinghe to probe into the recent 30-year bond scandal. 

Tushara appointed Director External Relations and Surveillance at SEC

?Securities and Exchange Commission (SEC) official Tushara Jayaratne has been designated as Director External Relations and Surveillance.

Lafarge chief gets 2.5mn euro merger bonus as cement company cuts jobs

?AFP: Lafarge Chief Executive Bruno Lafont has been awarded a 2.5 million euro (US $ 2.8 million) bonus for the successful merger with Swiss rival Holcim as the cement company announced job cuts.

DFCC gets CSE nod to list debt securities

DFCC Vardhana Bank is raising Rs.5 billion by way of a debenture issue and has received the preliminary approval to list the debt securities in the Colombo Stock Exchange (CSE). 

CB allows rupee to fall for 2nd session

?REUTERS: Sri Lanka’s Central Bank allowed the rupee to fall by 0.15 percent yesterday by guiding a daily trading band lower for the second straight session, the fifth downward adjustment since April 30, a move dealers said reflected lower domestic interest rates and a broadly strong dollar.

NDB to go ahead with debenture issue

National Development Bank PLC (NDB) yesterday said it was pursuing the debenture issue announced this February. The bank has upsized the issue by Rs.2.5 billion to Rs.10 billion, subject to regulatory approvals.

Sri Lanka needs to open doors to become a financial hub: Lord Mayor of London

The Lord Mayor of London opined that Sri Lanka would have to open its doors to expertise from abroad in order to become a financial hub.

SLCHBC representatives meet with new Chinese Ambassador

?Senior Executive Committee members of the Sri Lanka-China Business Council (SLCHBC) recently met with the new Ambassador of the People’s Republic of China to Sri Lanka, Yi Xianliang. 

Short-term T-bill yields edge down

?The short-term Treasury bill yields edged down at yesterday’s Treasury bill auction. The three-month bill yield fell two basis points to 6.08 percent from last auction while six-month bill yields fell three basis points to 6.19 percent.

IPS workshop discusses South Asian issues in run-up to WTO Ministerial Conference

?The Institute of Policy Studies of Sri Lanka (IPS) together with the Commonwealth Secretariat and Consumer Unity & Trust Society (CUTS) International, recently conducted a workshop in Colombo,....

Kalpitiya Beach Resorts denounces malicious reports

Kalpitiya Beach Resorts PLC (KBR PLC), a subsidiary of Citrus Leisure PLC, issuing a statement clarified its position with regard to the allegations levelled by the media. 

The Regent unveils unique Country Club concept

?The Regent unveils unique Country Club concept Nestled in Malabe, the newest property of LAHRC Management Services (Pvt) Ltd, The Regent has attracted public attention since its construction stage. 

Ceylon Planters’ Provident Society promotes personal financial planning

?Recognizing the need to go beyond providing the best possible returns to members, Ceylon Planters’ Provident Society conducted an awareness program recently for its members on Wealth Planning in collaboration with NDB Wealth Management. 

Diva ‘Idame Vasanawa’ celebrates fifth consecutive year with novel activation campaign

?Diva a brand of Hemas Manufacturing, which has transformed the lifestyles of its consumers, kicked-off its exciting mega consumer promotion ‘Idame Vasanawa’ for the 5th consecutive year in Homagama,...