CIMA presents Corporate Partnership Programme for 2018

Staying true to its vision to help businesses succeed worldwide, the Chartered Institute of Management Accountants (CIMA) presents its Corporate Partnership Programme for 2018, an opportunity for leading corporates to enter into a strategic partnership with a prestigious business network, driven by an undeterrable vision to shape the future of business around the globe.

Guarantee your virtual team members ‘out of sight’ doesn’t mean ‘out of mind’

In this instalment, you discover how to establish a few clever ways of working, which help you to address the challenges of leading a virtual team and ensure that your team is productive.

Merchant navy profession now open to GCE A/L Technology students

The Merchant Shipping Secretariat of the Ports and Shipping Ministry has taken the initiative to broaden the entry criteria for merchant navy cadet officer training to include the GCE A/L Technology stream students, in a bid to create more opportunities for Sri Lankan youth to embark on lucrative seafaring careers.

Evergreen orders eight 11,000 TEU containerships

Evergreen Marine Corp. (EMC) entered into an agreement with Samsung Heavy Industries (SHI) to order eight 11,000 20-foot equivalent unit (TEU) containerships. 

Cathay Pacific introduces up to 35% off Business Class promotion

Cathay Pacific Airways is launching Business Class promotional fares to select destinations from Colombo. The promotional fares of up to 35% off on Business Class are now available from Colombo to nine key destinations in Asia, North America, Australia and New Zealand.

CASA facilitates seminar on maritime hub aspirations of Sri Lanka

A seminar themed ‘maritime hub aspirations of Sri Lanka’, organised by the Ceylon Association of Ships Agents (CASA), is to be held tomorrow, at Galadari Hotel.

KrisFlyer to launch world’s first blockchain-based airline loyalty digital wallet

The SIA Group’s KrisFlyer frequent-flyer programme is to launch a world-first blockchain-based airline loyalty digital wallet capability that will help unlock the value of KrisFlyer miles to enable everyday spending at retail partners.

Transshipments at Colombo port up by 20.4% in January

The transshipment operations at the Port of Colombo show a tremendous increase between the months of January 2017 and January 2018.  Accordingly, against 362,451 transshipment twenty-foot equivalent unit (TEU) operations in January 2017, together with Jaya Container Terminal 

LankaPropertyWeb.com hosts 2nd successive ‘Lanka Property Show’

Attesting as its second and successive attempt at bringing major property developers, investors, all kinds of different projects under one roof, LankaPropertyWeb.com hosted the ‘Lanka Property Show 2018’ on February 16th and 17th at The Kingsbury Hotel, Colombo.

Chint unveils 8P series, latest range of colour switches and sockets

Adding to its ever-expanding portfolio of domestic and industrial electrical switchgear and equipment, Chint Power Solutions recently launched its latest range of colour switches and sockets, the ‘8P Series’, at a ceremony held at Ozo, Colombo.

JLL Sri Lanka sponsors first PropertyGuru Asia Property Awards

The PropertyGuru Asia Property Awards (Sri Lanka), the premier industry awards ceremony that will be held for the first time in Colombo in 2018, welcomes the support and sponsorship of JLL Sri Lanka, the country’s professional real estate services firm.

Ekroma reveals upcoming projects ‘Elegant 16’ and ‘Grade A’ office space

Ekroma’s one-of-a-kind real estate projects are generating a buzz in the industry for being truly path-breaking in every sense.

Sampath Bank 4Q earnings surge over 50% on new loans, better margins

Stronger growth in new loans and better margin management amid challenging macro-economic conditions helped Sampath Bank PLC report some robust performance for the quarter ended December 31, 2017, the interim financial accounts released to the Colombo bourse showed.    

Higher subsidiary income boosts LVL Energy Fund 3Q

LVL Energy Fund Limited (LVEF), which started trading in the Colombo bourse this January, posted a Rs.103.5 million net profit for the December quarter (3Q18), which was an over six-fold increase compared to the corresponding quarter of the previous financial year, stemming from higher income from subsidiaries.

Manufacturing and services activities cool down after peak in December

Both manufacturing and services activities in Sri Lanka expanded at a slower rate in January 2018 compared to December 2017, the Sri Lanka Purchasing Managers’ Index (PMI) survey compiled by Central Bank’s Statistics Department showed. 

India’s City Union Bank CEO says suffered cyber hack via SWIFT system

MUMBAI (REUTERS): India’s City Union Bank said yesterday that ‘cyber criminals’ had hacked its systems and transferred nearly US$2 million through three unauthorized remittances to lenders overseas via the SWIFT financial platform.

One-off gains lift Softlogic December performance

One-off gains lifted the Softlogic Holdings PLC’s December quarter (3Q18), which is currently going through an exercise to reduce its group debt that weighs on profits as the borrowing costs continue to climb.

Central Bank sees higher default risk with possible fiscal side slippage

Sri Lanka could run the risk of defaulting on its loan payments during the next four-year period, if fiscal policy is loosened drastically, according to Central Bank Governor Dr. Indrajit Coomaraswamy.

Pathfinder holds confab on ‘Iran and Indian Ocean in the 21st Century’

Pathfinder Foundation (PF), in association with the Embassy of the Islamic Republic of Iran and in collaboration with the Strategic Council for Foreign Relations (SCFR) held a round-table conference on the theme ‘Iran and the Indian Ocean in the 21st Century’ recently.

Service of Small and Medium Industries Chamber President appreciated

President of Sri Lanka Chamber of Small and Medium Industries was appreciated at the recently concluded awards ceremony organized by the Chamber itself in Colombo.

Global independent audit regulators meet begins today

The inauguration of the 12th Annual Inspection Workshop of the International Forum of Independent Audit Regulators (IFIAR), hosted by Sri Lanka Accounting and Auditing Standards Monitoring Board (SLAASMB) will take place at the Kings Court, Cinnamon Lakeside Hotel in Colombo today. The global discussion which will be attended by over 110 professionals representing audit regulators from 40 countries from all over the world, will see independent au

NCE to conduct seminar on taxation and fiscal issues

The National Chamber of Exporters of Sri Lanka will conduct a seminar on tax, fiscal, and other issues related to the new Foreign Exchange Act, the New Inland Revenue Act, budget proposals for 2018 and the Sri Lanka-Singapore treaty for prevention of double taxation which has a bearing on the Free Trade Agreement (FTA) signed by the governments of Sri Lanka and Singapore recently.

Training workshops on new ISO compliance requirements

Training workshops highlighting salient features of the ISO 17025:2017 will be held from the 19th -23rd February, with the first two days at the MILODA Academy of Financial Studies and the final three days at the Sri Lanka Accreditation Board (SLAB) auditorium. 

CA Sri Lanka Business Plan competition kicks off this month

To encourage Advanced Level students gain a better understanding on the importance of developing a business plan and to also help harness the entrepreneurial skills among future business leaders, the Business Plan Competition organised by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) will kick off this month. 

MTI enables Link Natural’s breakthrough into Vietnam and Myanmar

MTI Consulting, through their proven international market-entry methodology has enabled the makers of Samahan and Sudantha to breakthrough into the fast growing Vietnam and Myanmar market. 

Asia markets higher as volatility fears ease

AFP: Asian stock markets climbed yesterday in thin holiday trade, led by gains in Tokyo, as volatility eased after last week’s rollercoaster ride. Tokyo tracked Wall Street higher as investors gradually regained confidence heading into the weekend and set aside inflation fears that had sparked the market meltdown last week.

Indonesia eyes lax palm oil rules in EU trade deal

AFP: Palm oil giant Indonesia is pressing the European Union to abandon plans to apply strict environmental standards to the sector and silence ‘negative’ criticism about the commodity, documents obtained by AFP have revealed.

US Bank to pay US$613 mn over money laundering violations

AFP: American lender US Bancorp has agreed to pay US$613 million to US authorities for violations of money laundering controls, including an attempted cover-up, federal prosecutors announced Thursday.

Swedish companies decry deportations of skilled workers

AFP: The heads of Sweden’s largest companies, including clothing giant H&M and telecoms maker Ericsson, denounced yesterday deportations of highly-skilled workers as the nation’s technology sector suffers a shortage of staff. 

Eran attends tax conference in New York

State Minister of Finance Eran Wickramaratne represented Sri Lanka at the first global conference of the platform for collaboration on tax, which commenced at the United Nations Headquarters in New York on February 14th.