Mobitel and Leo Burnett’s digital team win two ACEF regional awards

Mobitel, Sri Lanka’s national mobile service provider, and the digital team of Leo Burnett Sri Lanka, won two coveted awards at The Global Customer Engagement Forum & Awards’ Asian arm (ACEF) awards ceremony held in Mumbai, India, on April 25th.

Subdued 4Q19 earnings for JKH

John Keells Holdings PLC (JKH), Sri Lanka’s largest and the most valued conglomerate, reported subdued operating results for the March quarter (4Q19), while heavy borrowing costs weighed on the group bottom line in a quarter that lacked economic vibrancy.

Structural changes in education system vital to become high income country: Dhammika

Business tycoon Dhammika Perera, who is rumoured to be eyeing the country’s top political post at the upcoming presidential polls, last week asserted that structural changes to Sri Lanka’s education system including re-evaluation of the breakdown of education budget are crucial for the country’s journey towards a high income country.

Dilmah voted as most trusted tea brand for 5th year in a row by Kiwis

Sri Lankan tea brand Dilmah has been voted the most trusted tea brand in New Zealand for the 5th consecutive year, a statement from the tea company said.

Aitken Spence records strong 4Q19; invests in Fiji printing biz

Diversified conglomerate, Aitken Spence PLC recorded a strong March quarter (4Q19) amid strong performance of the group’s all business segments, the interim financial accounts released to the Colombo bourse on Friday showed.

Hutch Lanka completes Etisalat acquisition

Hutchison Telecommunications Lanka Ltd., (Hutch Lanka), subsidiary of CK Hutchison Group (CKHH Group Hong Kong) has announced the successful completion and consolidation post-acquisition of Etisalat Lanka Ltd.

Vehicle registrations slip in holiday-packed, eventful April

Motorcar registrations which slipped during the holiday-packed April, paralysed further by Easter bombings, which brought almost all sectors of the economy to an abrupt halt for almost a month.

SLPA says plan to develop ECT with Japan and India will improve Colombo Port’s position

Confirming Mirror Business exclusive story last week, the Sri Lanka Ports Authority (SLPA) yesterday said the envisaged partnership with Japan and India to develop the East Container Terminal (ECT) will help Port of Colombo to continue with its growth momentum and further improve its position.

India’s Elections making history

Thursday saw general elections results for 543 seats of the 17th lower house of India’s national Parliament re-enforcing most of the preceding Exit Poll predictions that had already set television screens on fire since Monday morning.

Proposed steel plant inconsistent with Trincomalee Development Master Plan

If there was one characteristic that could define the four and a half years of the ‘Yahapalanaya’ government, it would be ‘Inconsistency in Policy’.

Eva Chen – the high-flying visionary leader

Eva Yi-Hwa Chen, usually referred to as Eva Chen, is a Taiwanese businessperson and the co-founder and CEO of Trend Micro, the world’s largest security firm.Currently she is graded as one of the top 100 most influential executives in the industry and also as one of Asia’s 50 Power Businesswomen.

Eleven young Sri Lankan advertising professionals vying for Gold at Cannes Young Lions

The highly-feted Young Lions Competition, which takes place annually at the Cannes Lions International Festival of Creativity in France, every June, will have the best of Sri Lankan creative talent participating at the international competition this year as well.

SLIM signs MOU with Dreamron Lanka for CPSM

The Sri Lanka Institute of Marketing (SLIM) is engaged in training a part of the Dreamron Lanka Pvt Ltd sales staff for the Certificate in Professional Sales Management (CPSM).

SLANSHEI and SLASSCOM enter partnership to boost IT/BPM industry capacity

The Sri Lankan Association of Software and Services Companies (SLASSCOM) recently announced the signing of a strategic partnership with the Sri Lanka Association of Non-State Higher Education Institutes (SLANSHEI), the umbrella organisation formed through the initiation of seven leading private educational bodies addressing the needs of the non-state higher education sector in the country.

Mobitel wins big at CEF Global Customer Engagement Forum Awards, India

Sri Lanka’s national mobile service provider, Mobitel, walked away with five highly coveted awards at the prestigious ACEF Global Customer Engagement Forum, which took place recently at the Westin Hotel in Mumbai, India.

Expolanka’s technology arm ‘ITX360’ set to take tech industry by storm

Expolanka’s newly conceptualised technology and software development arm, ITX360 is geared to take the tech industry by storm by making available top-notch operational solutions for businesses that are both locally and globally established.

SLT records highest ever quarterly profits for 1Q19

During the first quarter of 2019 (1Q19), the Sri Lanka Telecom Group (SLT) reported a net profit of Rs.2.20 billion, which is the highest ever during the first quarter of any year, with a remarkable 86.8 percent YoY growth compared to the same quarter in 2018 (1Q18).

Korea Eximbank to conduct feasibility study for land mgt. system in SL

Recognizing the importance of efficient land management and its contribution to the economy, the Export-Import Bank of Korea (Korea Eximbank), the entrusted government agency of Economic Development Cooperation Fund (EDCF) is financing a comprehensive feasibility study to establish a Land Data Infrastructure (LDI) and Land Information Service System (LISS) in Sri Lanka as a grant under its technical assistance scheme.

Most Asian markets see further losses as trade row rumbles along

HONG KONG (AFP) - The increasingly fractious trade row between China and the United States was the main focus of Asian investor angst yesterday, with most markets down to extend the previous day’s steep losses, though oil edged back from a painful sell-off. With little hope for a quick turnaround in the standof

Charmarie Maelge appointed SLTPB Managing Director

Charmarie Maelge has been appointed as the Managing Director Sri Lanka Tourism Promotion Bureau (SLTPB) on May 23rd. Charmarie has started her tourism career as the Director Marketing for the Tourist Board, subsequently taking over the roles of Director London Office in the UK and Director Research and International Affairs.

Facebook plans cryptocurrency launch next year: BBC

LONDON (AFP) - Facebook has been in contact with US and British financial regulators with a view to launching its own cryptocurrency next year, the BBC reported yesterday. “GlobalCoin” would work with a new digital payments system in about a dozen countries, starting in the first quarter of 2020, the broadcaster said on its website. Previous reports have said Facebook is taking a serious look at blockchain technology under its “Project Libra”, i

Stocks snap 5 days of gains in light trade; rupee steady

REUTERS: Sri Lankan shares snapped five straight sessions of gains yesterday in low trade amid worries over economic slowdown and lack of investor appetite for risky assets. Traders said the Easter day bombings and aftermath violence weighed on investor sentiment. Most investors have shied away from the market since the April 21 bombings that killed more than 250 people.

UK retail sales hold up despite Brexit turmoil

LONDON (AFP) - British retail sales steadied in April, beating expectations of a drop, official data showed yesterday, with consumer spending ticking along despite Brexit and wider political strains in the UK.

People’s Bank Amendment Bill presented to Parliament

The People’s Bank Amendment Bill which provides for the bank to issue debentures and maintain an authorized share capital was presented to Parliament yesterday. The Bill will include provisions for the Bank to raise

US Ambassador snubs top Russia forum over investor’s arrest

MOSCOW (AFP) - The US Ambassador to Russia Jon Huntsman will boycott Russia’s annual showcase economic forum in Saint Petersburg next month over the prosecution of a top American investor, the embassy said yesterday.

Advocata backs Expert Committee recommendations on SriLankan restructuring

Advocata, a free-market policy think tank based in Colombo, yesterday said it supports the President-appointed Expert Committee recommendations on the restructuring of State-run SriLankan Airlines.

President issues directive making NGJA seal mandatory for gold products

President Maithripala Sirisena has instructed the National Gem and Jewellery Authority (NGJA) to make it mandatory to obtain the guarantee and the certificate seal of the NGJA for gold products sold in the market.

Crisis-hit SMEs cry for help

The Colombo Business Association (CBA) representing small and medium-sized enterprises (SMEs) in the country warned that the delayed decision making by the government to support the crisis-hit SME sector in the aftermath of Easter Sunday bombings would drive the banking sector into crisis, leaving many unemployed.

Teejay Lanka continues strong momentum into 4Q19

Weft knit fabric maker, Teejay Lanka PLC, reported some solid top and bottom line performance during the three months ended 31 March, 2019 (4Q19) as the company managed to offset the higher cost through price revisions and process improvements.

Circular issued increasing ration and allowances to Tri-Services

The Finance Ministry yesterday said the ration and other allowances paid to all officers and other ranks in the Tri-Services have been increased by the government. Some of these allowances had not been increased for the last 20 years.