Transforming your one-time buyers into lifetime customers Safeguard sensitive CRM data against insid

The frontline employees are a key connection for managing customer information because they frequently collect it. Whether they’re retail sales clerks or highly trained technical salespe

March corporate earnings defy overall negative sentiment

Sri Lanka’s listed entities reported some strong growth in earnings for the quarter ended in March (1Q18), as the traditional leading sectors continue to push up market earnings while the one-off gains in insurance sector further lifted overall profits.

SEC and CSE to launch proposed SME board on July 5

The Securities and Exchange Commission (SEC) said yesterday it would expedite the launch of the proposed Small and Medium Enterprises (SME) board on the Colombo Stock Exchange (CSE) to attract small and medium sized firms to the country’s capital market.

SLPA to seek Cabinet approval for new East Container Terminal development plan

The Sri Lanka Ports Authority will soon seek Cabinet approval for the new development plan of the East Container Terminal (ECT) of the Colombo port, according to a top SLPA official. 

Entrepreneurs will be engine of growth in new economy: Mangala

Launching the ‘Enterprise Sri Lanka: Entrepreneurs Paradise Loan Scheme’ last Friday in Colombo, Finance and Mass Media Minister Mangala Samaraweera said entrepreneurs would be the engine of growth of the new economy which the government wishes to create. 

Female entrepreneurs in the limelight

Prime Minister Ranil Wickremesinghe handing over a loan under the ‘Entrepreneurs Paradise Loan Scheme’ to a female entrepreneur in the presence of Public Enterprise Development Minister Lakshman Kiriella at the BMICH, last Friday 

OPEC moves towards raising oil supply as Iran softens stance

(Vienna) REUTERS:  OPEC moved closer yesterday towards boosting oil output as its leader Saudi Arabia appeared to have persuaded arch-rival Iran to cooperate, after major consumers warned of a supply shortage.

Rupee extends recovery as exporters sell dollars

(Colombo) REUTERS: The Sri Lankan rupee ended firmer yesterday, further pulling away from a record-low, as exporters sold the U.S. dollar and foreign investors bought government securities a day after the

Stocks end steady, marking fifth straight losing week

(Colombo) REUTERS: Sri Lankan shares ended steady yesterday, staying close to the 14-month low hit this week and marking their fifth straight week of losses. The Colombo stock index ended 0.01 percent weaker at 6,228.15, hovering near its lowest close since April 2017 hit on Wednesday. The bourse fell 1.63 percent this week.

CMPort’s last tranche settlement to have major effect on economy: Samarasinghe

There will be a marked improvement in the country’s macroeconomic fundamentals, following the payment of US$ 584 million (approximately Rs.94 billion), the last tranche for the Hambantota Port Development Project by China’s  CMPort, Ports and Shipping Minister Mahinda Samarasinghe said.  “As a result of this payment, there will be a con

Mangala stresses need for sustainable oceanic resource management

As the government is moving forward with expanding market access for Sri Lankan exporters, sustainable resource management practices remain crucial to successfully penetrate into advanced marke

Export Development Board holds 14th Exporters’ Forum

The 14th Exporters’ Forum Chaired by State Minister of International Trade Sujeewa Senasinghe was held at the EDB auditorium recently.  The session prov

SL becoming competitive economy despite political uncertainties

Sri Lanka is fast becoming a competitive economy regardless of the uncertain political climate that may persist, Megapolis and Western Development Minister Patali Champika Ranawaka said. 

Govt. pledges to improve local accreditation and certification process to international standards

As Sri Lanka is on the lookout for avenues to boost the quality of the products moving in and out of the country, the government yesterday pledged to iron out issues in the local accreditation system and bring it on par with international standards.

May countrywide inflation rises to 2.1%

Sri Lanka’s country wide inflation measured by the National Consumer Price Index (NCPI) rose to 2.1 percent in May year-on-year basis, accelerating from 1.6 percent recorded in April, the Department of Census and Statistics said.

Correction

In a note of clarification with regard to the news item titled “Colombo apartments to account for 4.5% of overall housing units next year” that appeared yesterday (21st), Condominium Developers’ Association of Sri Lanka Chairman and Director, Indocean Developers Private Limited, Pradeep Moraes, says the apartment units in Colombo are only

New film industry alliance formed to lobby against NFC’s takeover effort

 Sri Lanka’s film theatre owners, managers and film producers during a meeting held yesterday at the Ruby Cinema Theatre premises in Maligawatte formed a new industry association to lobby against the recent move by the National Film Corporation (NFC) to take over the distribution of films from the private sector.  Until now, five private entities—

ICTA begins fresh talks with CB, LankaClear to implement NPP

The new administration of the Information and Communication Technology Agency (ICTA), along with Central Bank and LankaClear, the operator of LankaPay, has launched a fresh attempt to revive the suspended National Payment Platform (NPP) project.

Deepal Abeywickrema to take over as Nestlé B’desh MD

Deepal Abeywickrema, currently Senior Vice President - Sales for Nestlé Lanka, has been appointed Managing Director for Nestlé Bangladesh.  Backed by 32 years of experience i

One Galle Face celebrates completion of tower structure

Redefining Colombo’s business workspace, the prestigious internationally developed and managed mixed-use development project by the Shangri-La Group, yesterday celebrated the topping-out of the One Galle Face Tower on schedule. 

CM Port pays final tranche of H’tota port deal

China Merchant Port Holdings Limited (CM Port) yesterday released the final tranche of the Hambantota port lease payment, the Sri Lanka Ports Authority (SLPA) said.

Abans announces appointment of Sriyan as CEO

Abans yesterday announced the appointment of Sriyan de Silva Wijeyratne as its Chief Executive Officer (CEO). The company said he would assume duties effective mid-August 2018.

Colombo apartments to account for 4.5% of overall housing units next year

The apartment units in Colombo are poised to grow from 1.7 percent of the current total housing units in Colombo to 4.5 percent units by next year, with several new large-scale apartment projects coming into the market next year, a leading real estate developer in the country said.

CPC begins local production of bitumen

Ushering a new era for the local construction sector, Ceylon Petroleum Corporation (CPC) yesterday commenced bitumen production at the country’s sole refinery located in Sapugaskanda.

New IR Act has shown positive outcome already: FinMin

Finance Minister Mangala Samaraweera on Tuesday said the outcome of the new Inland Revenue (IR) Act is positive though it has been only two months since it was implemented. 

NDB to raise Rs.6.2bn through rights issue

National Development Bank PLC (NDB) on Tuesday conveyed its plans to the Colombo bourse to raise Rs.6.2 billion via a rights issue.

Balancing Chinese presence in Sri Lanka: India and Japan’s game of stag hunt

The rivalry existing between China and India is based on a long historical trajectory dating back to the epoch of the Silk Route. More recent conflict emerged at a time when both states strived to emerge as nation states after facing colonial encounters for centuries. 

Challenges in making Sri Lanka self-sufficient in milk

Before the adoption of an open economy in 1977, Sri Lanka was 80 percent self-sufficient in fulfilling the milk requirements. However, at present, Sri Lanka is around 40 percent self-sufficient. This has resulted in importing nearly 100,000 metric tons of powdered milk to the island, spending more than US $ 400 million per year, while our neighbour India remains the world’s largest milk producer. 

Uber bets big on Sri Lanka

Joining for a discussion with Mirror Business recently, Uber General Manager Sri Lanka and South India Christian Freese and Uber Chief Business Officer India and Emerging Markets Madhu Kannan assured that Uber is committed to reshaping Sri Lanka’s urban mobility landscape while revealing several expansion plans are underway for the Sri Lankan market. 

When people get spun by Internet rumours

Many stories doing the rounds on the Internet a few weeks ago speculated about the future of the government and about a list of people who benefited from the bond scam. Both these issues however have been disputed by the government.