Samurai bond delayed till next month

Sri Lanka’s maiden US$ 500 million (60 billion yen) 10 -year Samurai bond issuance has been pushed to December from this month, mainly due to extensive translation work involved in the issuance.

CB seeks AG’s opinion on how to proceed with forensic audit reports

The Central Bank will seek Attorney General’s (AG) advice on how to proceed with the five forensic audit reports on the alleged bond scams and Rs.2.2 trillion Employees’ Provident Fund (EPF) transactions, which are scheduled to be completed by November 10.

October inflation picks up to 5.4% amid uptrend in food prices

Sri Lanka’s inflation inched higher towards the upper band desired by the Central Bank in October due to a sharp increase in the food prices and the base effects coming from the same month last year.

Anne Mulcahy – Xerox CEO knew what it takes to win against all odds

Anne Mulcahy – former Chairperson and CEO of Xerox Corporation, was born in 1952, in New York, USA. She was the only daughter in her family and attended Catholic school as a child. She received a B.A. in English and Journalism from University in Tarrytown, New York.

CIMA CXO Forum focuses on thriving in digital economy

The annual CXO Forum of the Chartered Institute of Management Accountants (CIMA) in Sri Lanka was held recently, at Hilton Colombo Residences.

Dr. Coomaraswamy to deliver lecture at Jaffna University

The University of Jaffna for the first-time in its history is to host a guest lecture by Central Bank Governor Dr. Indrajit Coomaraswamy. He will deliver a special lecture entitled ‘Strengthening framework for policy formulation to address the macroeconomic stress, which has undermined progress and prosperity in Sri Lanka’.

Quality Assurance and Accreditation Bill no threat to professional bodies, says University Grants Commission Chair

The University Grants Commission (UGC) urges Sri Lanka’s professional bodies not to be threatened by the Quality Assurance (QA) and Accreditation Bill, while insisting that the bill would enhance the credibility of a degree or diploma programme locally and globally, avoiding any interfaces with the integrity and power vested on professional bodies.

MTI shares Asian best practices at Thimphu Tech-Park

A team of international consultants from MTI has engaged with Thimphu Tech-Park (TTP), advising and sharing the best practices on start-up eco-systems in frontier and emerging markets.

Sri Lanka hosts Asia’s largest conference on Organisational Excellence and Lean Six Sigma

Asia’s largest conference on Organisational Excellence – the second International Conference on Organisational Excellence and Lean Six Sigma and second SSMI graduation ceremony, organised by Dr. Mikel J. Harry of the Six Sigma Management Institute Asia (SSMI Asia), was held at Water’s Edge, Colombo, recently.

Shares post 10-month closing high; rupee edges down

Sri Lankan shares rose yesterday in high turnover and closed at their highest in 10 months, as investors took positions two weeks ahead of presidential polls, analysts said. Sajith Premadasa, the Housing Minister and one of the two presidential front-runners, on Thursday announced his election manifesto, which is seen by analysts as a ‘broader policy framework’.

‘SLT Digitastic’ launched at Infotel

Sri Lanka Telecom (SLT), successfully launched the first ever ‘SLT Digitastic’ Digital Lifestyle Expo at Infotel 2019. “SLT Digitastic” will be held in parallel to Infotel between November 1st to 3rd the Sirimavo Bandaranaike Memorial Hall B. The expo was ceremonially opened by Minister of Digital Infrastructure & Information Technology, Ajith Perera and SLT Chairman P.G. Kumarasinghe Sirisena in the presence of SLT CEO Kiththi Perera, Chief Op

Boeing says dozens of 737NG planes grounded globally over cracks

NEW YORK (AFP) - Boeing announced Thursday that dozens of its popular 737NG planes had been taken out of service after cracks in them were detected, marking another setback for the crisis-stricken US aircraft maker. The new difficulties com

Energy giants face 35% output cut to hit Paris climate goals: watchdog

PARIS (AFP) - The biggest listed oil and gas giants must slash production by more than a third by 2040 to keep emissions within targets laid out in the landmark Paris climate deal, an industry watchdog said yesterday. Carbon Tr

Laugfs Gas continues to extend LPG supply to meet growing demand

In response to rising consumer demand for LP Gas, Laugfs Gas PLC has doubled its supply and continues to work around the clock. In the aftermath of the global LPG shortage following the drone attack at Saudi Aramco oil processing facilities, Laugfs PLC experienced a brief curtailing of the LPG supply line. However, the curtailing lasted only from Octo

SEAsia leaders to push for progress on China-backed trade pact

BANGKOK (AFP) - Southeast Asian leaders will race to get a sprawling China-backed trade pact over the line at a regional meeting in Thailand this weekend, as Beijing’s bruising trade war with Washington rumbles on. If signed, the Regiona

Asian markets mostly up but trade concerns cast shadow

HONG KONG (AFP) - Most Asian markets rose yesterday as traders overcame early jitters about the China-US trade talks that were fuelled by a report saying Beijing officials had raised doubts about the chances of a long-term deal. Investors were also spooked by a speech by Secretary of State Mike Pompeo, in which he called China ‘truly hostile’ to the US, leading Beijing to accuse the White House of “viciously” attacking it.

UK defends Brexit deal after Trump trade warning

LONDON (AFP) - British Prime Minister Boris Johnson’s office has defended his Brexit deal with the EU, after US President Donald Trump warned it would make it impossible for the two nations to strike a future trade agreement. The president, whose impeachment in the US has moved a stage closer following a key vote in Congress, waded into the British election campaign on Thursday to criticise Johnson’s divorce terms with the European bloc. “This

HSBC eyes even bigger slice of SL’s trade finance pie

Sri Lanka’s largest international bank, HSBC Sri Lanka, yesterday said it financed over 80, 000 trade transactions to the tune of US$ 2.3 billion, last year, and is investing to transform the country’s trade finance landscape by digitizing it.

WTM London 2019 unveils Sri Lanka as Premier Partner

Sri Lankan Tourism Promotion Bureau (SLTPB) will be the Premier Partner at WTM London 2019 as the island’s tourism industry continues its resolute recovery following April 21 terror attacks.

Lankan universities urged to adopt sustainable funding model to be competitive

Unless Sri Lanka’s universities move away from the conventional State funding system to a sustainable financing model opening up to competition, the country’s higher education is doomed to fail, according to the head of University Grants Commission (UGC).

Govt. to seek Parliamentary approval to sign agreement with MCC

The government is to seek parliamentary approval to enact the US $480 million Millennium Challenge Corporation (MCC) Compact agreement and the Programme Implementation Agreement, which were drafted with the consent of theAttorney General, according to the Finance Ministry.

Overseas Realty 3Q net up on higher rental income, apartment sales

Overseas Realty Ceylon PLC reported higher revenues and profits for the three months ended September 30, 2019 (3Q19) amid healthy rental incomes from World Trade Centre (WTC), Colombo, and the revenues recognized on account of the sales of apartments from its Havelock City Phase 4 towers.

Saudi’s new tourism industry faces huge training challenge

(Riyadh) AFP: Saudi Arabia has opened its doors to tourists, but faces huge challenges to train an estimated one million staff needed to operate the sector, according to the head of one forthcoming mega-project.

Shares post over 13-week closing high; rupee firmer

REUTERS: Sri Lankan shares rose yesterday to close at their highest in more than 13 weeks as investors took positions two weeks ahead of presidential polls, analysts said.

Tax anomaly needs immediate correction for greater benefit of public, company: HNBA CEO

Following is an interview with HNB Assurance PLC (HNBA) CEO Deepthi Lokuarachchi, which is part of an interview series of S&P SL20 companies conducted by the Colombo Stock Exchange in partnership with Mirror Business.

‘BOC Digi’ opens at Marino Mall Colombo 3

Bank of Ceylon’s state-of-the-art ‘BOC Digi Centre’ opens its fourth outlet at the mega shopping complex Marino Mall Colombo 3.

Vallibel Finance 2Q earnings up 10%

Leading licensed finance company, Vallibel Finance PLC, saw its earnings for the September quarter (2Q20) improving to 10.4 percent year-on-year (YoY) to Rs.285.9 million amid the challenging operating environment that is prevailing in the country.

Cargills Bank shines with 3 awards at LankaPay Technovation Awards 2019

Cargills Bank won three awards for the second year in succession at the recent LankaPay Technovation Awards 2019.

HSBC eyes even bigger slice of SL’s trade finance pie

Sri Lanka’s largest international bank, HSBC Sri Lanka, yesterday said it financed over 80, 000 trade transactions to the tune of US$ 2.3 billion, last year, and is investing to transform the country’s trade finance landscape by digitizing it. “Over the last twelve mo

Overseas Realty 3Q net up on higher rental income, apartment sales

Overseas Realty Ceylon PLC reported higher revenues and profits for the three months ended September 30, 2019 (3Q19) amid healthy rental incomes from World Trade Center (WTC), Colombo, and the revenues recognized on account of the sales of apartments from its Havelock City Phase 4 towers.