Fairfirst Insurance contributes to Batticaloa’s Zion Church

The leadership team of Fairfirst Insurance met up with Pastor Roshan Maheshan on May 14th.

Ceylon Biscuits’ Munchee community work projects gather more momentum

Galenbindunuwewa, a remote area in North Central Sri Lanka, in the Anuradhapura district, home to a community of about 120 families, was the most recent beneficiary of the ‘Munchee Samaga Gamata Sarana’ community programme designed to uplift the living standards of our rural people.

Link contributes to ecological conservation of Adam’s Peak region

Striving to promote the use of ‘Preventive platforms’ rather than a ‘Curative platforms’– the brand philosophy of Samahan, a product of Link Natural Products (Pvt) Ltd launched a holistic programme themed ‘Asiri Surakimu Samanola’, to solve the plastic waste crisis in Adam’s Peak (Sri Pada).

Mukesh Ambani – Leader with a bold foresight

Mukesh Ambani (born April 19, 1957) is an Indian business magnate and the largest shareholder of Reliance Industries Limited (RIL), which is a Fortune Global 500 company.

NDB organises eye care camp for staff

An eye care camp organised by the NDB Staff Recreation Club (NDBSRC) was held last week among the bank staff along with special discounts and a free vision test.

MTI concludes social supply chain project in Bangladesh

MTI’s Regional Team recently concluded a supply chain strategising project with Kazi and Kazi Tea Estate Ltd (KKTE) in Bangladesh.

SL to crack down on terrorist financing with new vigour

Sri Lanka will set up a mechanism to improve the coordination between the Financial Intelligence Unit (FIU), the Criminal Investigation Department (CID) and the Attorney General’s Department to expedite investigations into terrorism financing cases in the aftermath of Easter Sunday attacks. “We are setti

Cargills March net up; survives lackluster economy

Cargills (Ceylon) PLC survived a lackluster quarter ended March 31, 2019 (47Q19), as the supermarket giant reported higher earnings and revenue defying downside risks that came from a poor economy, the interim financial accounts released to the Colombo bourse showed.

NatWealth Securities suspended for 6 months

The Central Bank last Friday said it was suspending business activities of primary dealer NatWealth Securities Limited (NWSL) for six months starting from June 1, 2019. The Monetary Board of the Central Bank had arrived on the decision considering NWSL’s “continuous failure to comply with directions applicable to primary dealers, acting in terms of the regulations specified under the Registered Stocks and Securities Ordinance and the Local Treasu

Inflation hits 5% in May after Easter carnage

Inflation in Colombo measured by the Colombo Consumer Price Index (CCPI) rose sharply in May amid significant increase in food prices and higher non-food prices stemming from a fuel price revision.

Lankan hoteliers appeal to UK govt. to relax travel ban

The Tourism Hotels Association of Sri Lanka (THASL) said they remained concerned as to why UK is yet to relax the travel ban on Sri Lanka, despite the improvement in the country’s security situation following the Easter Sunday bombings on April 21,

CB cuts rates to spur growth

The Central Bank (CB) cut policy interest rates by 50 basis points to stimulate the sub-par economic growth which is expected to further worsen due to the devastating impact on the tourism and related sectors stemming from the Easter Sunday attacks. Accordingly, the Monet

Asia stocks sunk as Trump fires new trade salvo

SYDNEY (Reuters) - Asian shares extended a month-long slide and sovereign bonds surged yesterday after U.S. President Donald Trump ramped up trade tensions globally by suddenly slapping tariffs on all goods from Mexico, sending the peso tumbling.

Proactive checks on crypto risks needed, global watchdog FSB says

LONDON (Reuters) - Regulators need to step up risk assessments of the cryptocurrency sector as current rules are patchy, and quick technological change may lead to gaps in policies on digital money, the global financial stability watchdog said.

BOI signs agreement for US$ 4.5mn luxury resort in Koggala

The Board of Investment (BOI) yesterday entered into an agreement with the Sundara (Pvt) Ltd, a foreign investor specialized in boutique hotels, to create a luxury resort project valued at over US$ 4.5 million in Koggala.

SriLankan Airlines to resume services to Karachi

SriLankan Airlines is to resume services to Pakistan’s commercial capital Karachi today. Sri Lanka’s national carrier will

Stocks fall despite rate cut; rupee steady

REUTERS - Sri Lankan shares ended weaker yesterday, snapping three straight sessions of gains, as foreign investors sold risky assets and the market shrugged off a widely expected rate cut by the Central Bank.

Tesla promotes lower priced China-made Model 3 in sales push

BEIJING/SHANGHAI (Reuters) - U.S. electric vehicle (EV) maker Tesla Inc said yesterday it would price its China-made Model 3 vehicles from 328,000 yuan (US$47,529), 13 percent cheaper than those it currently imports as it pushes sales in the fast growing market. The carmaker has been building a factory

Cigarette tax indexation, getting it right and getting it wrong

Cigarette taxation in Sri Lanka is much in need of more professional management. This is not surprising – much of the government is in need of the same.

World No Tobacco Day: Sri Lanka must strengthen its real performance

World No Tobacco Day falls today (May 31), with the global campaign converging to combat the harmful impacts of tobacco use and second-hand smoke.

Govt. mulls allowing cigarette imports

Sri Lanka is currently contemplating to entertain applications to allow potential importers to import foreign cigarette brands to the country, as there’s significant demand for such among expatriates in Colombo, Finance Minister Mangala Samaraweera said. “We are yet to grant any app

Finagle Lanka expands into global markets

Founder and Managing Director Mahinda Ranasinghe and the Board of Directors of Finagle Lanka Pvt. Ltd., consisting of family members, claim another achievement in the export sector, with the increased demand for Finagle products across the globe.

Ceylinco Life’s Family Savari winners enjoy 12th Singapore tour

Spectacular shows, quality dining and shopping dominated the agenda when Ceylinco Life treated a group of policyholders and their families to a three-day visit to Singapore recently, as part of the Company’s on-going ‘Family Savari’ mega promotion.

Pan Asia Bank partners Red Cross to support Katuwapitiya victims

Swiftly responding to the needs of the most affected in the recent tragic Easter Sunday attacks in the country, Pan Asia Bank’s (PABC) Negombo branch joined hands with the Red Cross Society of Negombo to organise a donation drive to benefit the victims of Katuwapitiya, which lies in close proximity to the branch.

Fadna Ezy tea made easier now

Fadna Ezy tea is the natural remedy for ladies having difficulties in their menstrual periods, which now comes in a handy packet for an affordable price.

Samsung ranked No.1 Electronics Brand 2019 by Brand Finance Lanka

Samsung Sri Lanka was ranked the number-one Electronics Brand by Brand Finance Lanka, in its 16th consecutive review of Sri Lanka’s most valuable brands in LMD’s Brands Annual 2019 Edition of Sri Lanka’s Leading Brands.

Medium-term strategy recommended to restore European and Aussie tourist arrivals to pre-Easter levels

Sri Lanka needs to have a medium-term strategy in place to restore the European and Australian air-traffic to pre-Easter Sunday levels as rate reductions will only have a limited impact on attracting Europeans and Australians back to the country, SriLankan Airlines CEO Vipula Gunatilleka said. He noted that tourist arrivals from Europe and Australia will take “sometime” to recover to previous levels while tourist arrivals from the Indian sub-con

Business confidence sinks to pre-war level after Easter attacks

Sri Lanka’s business confidence has sunk to pre-war levels in 2008 despite the improvement in security situation in the aftermath of Easter Sunday bombings that killed 250 people and injured 500 more.

Businesses urged to play active role in eradicating extremism among youth

Sri Lanka’s businesses need to play an active role in eradicating extremism, particularly among younger employees by approaching them in a personal and relatable manner in order to curb extremism, which is now threatening to influence consumer decisions.

Gloom in tea business clouds Sunshine Holdings performance in March

Sunshine Holdings PLC reported modest growth in revenue while the operating profits slipped as the group’s upcountry tea plantation business, which the group divested earlier this week for little over one billion rupees, weighed on the performance during the quarter ended March 31, (4Q19).