BPPL delivers strong 1Q as diversification strategy yields results

BPPL Holdings PLC, Sri Lanka’s largest brush-ware maker and an exporter, continued to see robust sales and profits during the three months ended in June 2021, as the group is seeing its portfolio diversification strategy, initiated few years ago by its venturing into polyester yarn manufacturing, is working strongly as intended.

Kelsey Homes records strong performance in 1Q

Kelsey Developments PLC illustrated its spirit of endurance recording Rs.50 million in revenue for the first quarter of the financial year 2021-22.

Apple Chief Executive Tim Cook gets US $ 750mn payout

Apple Chief Executive Tim Cook has received more than five million shares in the technology giant, as he marks 10 years in the job.

South Korea becomes first major Asian economy to raise interest rates

South Korea has become the first major Asian economy to raise interest rates since the coronavirus pandemic began.

Samsung introduces Smart Keyboard Trio 500

In a mobile-first world, learning and working while on the go has become commonplace. When you need the efficiency and comfort of typing on a physical keyboard but don’t want to carry around your laptop, you will look for a keyboard that is both durable and handy.

Sadaharitha presents finest agarwood products at Oud Galleria

Sri Lankan commercial forestry leader Sadaharitha Plantations, proudly presents its exquisite line of perfumes – Oud Galleria, now open at One Galle Face, Colombo.

Dreamron ties up with Stephanie as Brand Ambassador

Former Miss Sri Lanka, Stephanie Siriwardhana was appointed as the new Brand Ambassador recently by Dreamron, the cosmetics, hair care anf skin care brand in Sri Lanka.

Abans brings wide range of Italy’s ELBA kitchen appliances to Sri Lanka

ELBA products have graced kitchens all over the world with their range of freestanding cookers, built-in ovens, hobs and hoods.

StanChart Sri Lanka donates essential medical equipment to combat pandemic

Standard Chartered Sri Lanka recently donated essential medical equipment worth over US$ 116,500 to the Sri Lanka Red Cross Society (SLRCS) as a continuation of its commitment to support Sri Lanka’s fight against the COVID-19 pandemic.

Swisstek Aluminium gives back to community in a big way

Swisstek Aluminium Ltd, one of the leading aluminium profiles manufacturers and premium solution providers in Sri Lanka, recently completed a major CSR initiative when the company carpeted and restored the Kimbulwilawatta Road in Pahala Dompe.

Elephant House, Zerotrash and Plasticcycle launch recyclable Plastic Collection Centre

Elephant House together with Zerotrash and the collaborative effort of the John Keells Group Social Entrepreneurship Project, Plasticcycle, recently opened the ‘Zero trash Recyclable Plastic Collection Centre’ to further promote recycling and better plastic waste management practices across the country.

PB donates portable Ultra Sound Scanner to Kandy Hospital

As part of the series of social initiatives organized to mark the occasion of People’s Bank’s 60th anniversary, a portable Ultra Sound Scanner worth over Rs.6 million, that can be deployed to treat COVID-19 patients was officially handed over to the National Hospital, Kandy recently. The equipment was funded by the People’s Bank staff members.

HNBA donates ventilators and other medical equipment

HNB Assurance PLC (HNBA) and its fully owned subsidiary HNB General Insurance Limited (HNBGI) together with their staff members made further donations of urgently needed ventilators and medical equipment and supplies to hospitals, MOH and PHI Offices.

Brandix donates essential medical equipment to support COVID-19 patients across communities

Apparel manufacturer Brandix recently donated essential medical equipment to the Kegalle District General Hospital, Mawanella General Hospital, and the Seeduwa Intermediate Care Centre to support the ongoing efforts towards the treatment of COVID-19 affected patients.

Nippon Paint 3-in-1 MediFresh covers several healthcare facilities

Nippon Paint recently initiated a campaign to galvanize healthcare facilities around Sri Lanka with their latest product 3-in-1 MediFresh which is an antibacterial coating developed with Silver & Zinc ions to keep disease-causing microorganisms at bay.

SLT-Mobitel donates HDU beds to Kegalle General Hospital

In its continued efforts to help Sri Lanka fight against the Covid-19 pandemic, SLT-Mobitel has donated high-dependency unit (HDU) beds to the Kegalle General Hospital, to support the critical care and treatment of COVID-19 patients.

CSE creates market history with ASPI crossing 9000 points

For the first time in market history, the All Share Price Index (ASPI) of the Colombo Stock Exchange (CSE) crossed the 9000 point mark in early trade today.

IMF’s SDR allocation will only provide some breathing space for Sri Lanka: IIF

The Internal Monetary Fund’s (IMF) US$ 800 million Special Drawing Rights (SDRs) allocation to Sri Lanka is only likely to provide some breathing space to the debt-ridden nation to delay a much needed IMF programme for a possible debt structuring until early next year, according to the Institute of International Finance (IIF), a Washington-based global association of the financial services industry.

CB continues to buy dollars from market despite forex crunch

The Central Bank has continued to remain a net purchaser of foreign currency from the domestic market in July in its pursuit to collect dollars from non-debt creating inflows to recoup part of its reserves, which shrunk the most during the month due to a billion dollar bond settlement.

ASPI hits new all-time high as local investors continue to bet on dollar earning stocks

The Colombo Stock Exchange’s (CSE) benchmark All Share Price Index (ASPI) hit a new all-time high yesterday as investors continued to bet on blue chip stocks despite the overall economic gloom the country is experiencing due to a shortage of dollars amid a pandemic and last week’s policy rate hike by the Central Bank.

Maldives-based Sea Horse Yachts to make US$ 58mn investment in Sri Lanka

Sea Horse Yachts (Pvt) Limited (SHY) of the Maldives,will invest US$ 58 million to set up and operate a state-of-the-art yacht building facility at the Hambantota International Port Group (HIPG) premises, Sri Lanka’s apex investment promotion body, Board of Investment (BOI) said in a statement .

Farmers foresee drop in harvest due to govt.’s rush to embrace organic fertilizer

Sri Lanka’s food security is likely to take a hit in the short- term as farmers across the island expect a drop in harvest with the government’s new fertilizer policy that is introduced to promote organic farming practices.

Full recovery in tourism to pre-pandemic level appears at least 5 years away

Full recovery of the tourism trade to its pre-pandemic levels appears to stretch through 2025 as authorities and other stakeholders have increasingly come to the realisation that any recovery is gradual and contingent on how the virus would evolve as last attempts to revive the industry was repeatedly buffeted by new virus waves.

Laugfs Gas says supply to be restored from August 30

While calling for a fair price hike, Laugfs Gas PLC this week assured sufficient LPG supplies for all of its customers when the country opens up on 30th this month.

Sri Lanka loses millions remaining on UK’s ‘red list’, says world tourism body

Sri Lanka is estimated to be losing Rs.260 million a day by remaining on the UK’s ‘red list’ for travel, the World Travel & Tourism Council (WTTC) said.

BoardPAC appoints Vijendran Watson as Chairman

BoardPAC, the Sri Lanka-headquartered award-winning, paperless board meeting automation solutions provider, has announced the appointment of business leader Vijendran Watson as Chairman, with effect from August 2021.

FITIS 20th YCS competition gears to produce exceptionally talented IT wizards

With information technology continuing to play a critical role in steering ahead local and global economies, the Software Chapter of the Federation of Information Technology Industry of Sri Lanka (FITIS) will take the lead to produce exceptionally talented IT wizards through its highly sought-after Young Computer Scientist (YCS) competition, which will celebrate its 20th anniversary this year.

ACCA awards ceremony recogniseas and celebrates outstanding achievements

Whilst the ambience might have been virtual, the recognition still remained highly reputed, as the Association of Chartered Certified Accountants (ACCA) held its prize winners awards ceremony on August 25, 2021, to recognise the affiliates who completed the ACCA exams and honour the prize winners who accomplished top scores in the ACCA examinations.

Corporate integrity during rambling pandemic: Whistleblowing framework to help uncover misconduct, says EY

The COVID-19 pandemic introduces new challenges for organisations looking to build and maintain a robust integrity framework.

Sri Lanka has potential to become Asia’s next start-up and innovation hub

Sri Lanka’s start-up ecosystem has grown significantly over the past 15 years, benefitting greatly from a fast-growing ICT sector, high rates of literacy, brain gain of highly qualified ICT professionals returning home, etc.