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.

Hackers stole US$6 mn in attack on SWIFT system, Russian Central Bank says

REUTERS: Unknown hackers stole 339.5 million rubles (US$6 million) in an attack on the SWIFT international payments messaging system in Russia last year, the Russian Central Bank said yesterday.

ADB provides US$ 75mn worth lending to Sri Lanka’s small businesses

The Sri Lankan government had obtained Asian Development Bank (ADB) financial assistance worth US$ 100 million in 2016 to finance the Small and Medium-Sized Enterprises (SME) Line of Credit Project. 

US authorities block Chicago Stock Exchange sale

AFP: US regulators Thursday blocked the purchase of the Chicago Stock Exchange (CHX) by a group of investors including the Chinese company Chongqing Casin.

Titan launches all-new Edge Date series

Titan, one of the world’s leading watch brands, recently unveiled its latest timepiece collection, the Titan Edge Date.

A corporate Avurudu at Waters Edge

Looking for the perfect place to host a traditional and exciting Avurudhu celebration for your office? Then look no further than Colombo’s culinary hub Waters Edge that is fully-equipped with perfect locations, an internationally acclaimed culinary team and a banquets team that will put together the perfect solution to suit your budget and themes.

Olcott Memorial Sports Foundation conducts inaugural leadership programme

Col. Henry Steele Olcott Memorial Sports Foundation conducted the inaugural leadership programme for the students of Olcott schools – Nalanda, Dharmasoka, Maliyadeva, Rahula, Dharmaraja, Mahinda and Ananda College, recently.

Sunquick concludes another ‘Drink & Win’ promotion

One of the most anticipated consumer promotions in the island, ‘Sunquick Drink & Win’ recently concluded yet another successful segment.  With valuable gifts being awarded every year, the campaign awarded 100 lucky customers with gold coins this year at the prize-giving ceremony held at Grand Oriental Hotel in Colombo. 

Development Strategies Ministry holds trade discussion

A lecture and discussion on “Trade theory and Global Experience on Trade Protection; its Benefits and Limitations” was held at the Sri Lanka Export Development Board recently with the participation of Professor Robert Lawrence, Professor of International Trade and Investment, Harvard Kennedy School of Harward University. 

Waters Edge organises ‘Brew & Grub Fest’

Nothing brings people together more like a combination of good food, drinks and music. Colombo’s entertainment hub Waters Edge is combining its culinary expertise with some of the best bands in the country to bring to you the ‘Brew & Grub Fest.

ReeBonn Cosmetics unveils Fairness Body Lotion

ReeBonn Cosmetics (Pvt.) Ltd, a pioneering herbal cosmetic company operating in Sri Lanka, unveiled its newest product, ‘ReeBonn Fairness Body Lotion’ that gives a bright, soft and glowing skin to the users. 

CCC opens Sri Lanka’s first dedicated coffee store

The flag carrier for Lavazza Coffee and the only total coffee solutions provider in Sri Lanka, Colombo Coffee Company (CCC), recently opened doors to Sri Lanka’s first dedicated coffee store. 

Aviraté launches 3D Virtual Store together with new Spring Collection

Delving further into the realm of virtual reality shopping, Aviraté is yet again shaking things up in the retail industry with the launch of its ‘3D Virtual Store’ – a virtual shopping experience. 

Union Bank Biz Direct powers UA with cutting-edge cash management technology

Union Bank partnered Union Assurance PLC (UA) with the bank’s revolutionary cash management solution Union Bank Biz Direct, enabling greater cash management efficiency for the leading insurer.

Fitch rates ComBank’s Basel III sub debt ‘AA-(lka)(EXP)’

Fitch Ratings has assigned Commercial Bank of Ceylon PLC’s (CB, AA(lka)/Stable) proposed Basel III-compliant subordinated unsecured debentures of up to Rs.10 billion an expected National Long-Term Rating of ‘AA-(lka)(EXP)’.

PNB detects US $1.77bn fraud in latest India bank case

REUTERS: India’s Punjab National Bank (PNB) has detected fraudulent transactions worth $1.77 billion at a single Mumbai branch in a case that could affect more banks and raise fresh questions about lending procedures at Indian banks mired in soured debt.

Richard Pieris Finance opens 8th branch in Kurunegala

Richard Pieris Finance Ltd, the only finance company belonging to the Richard Pieris group, opened its eighth branch in Kurunegala recently. The new branch of Richard Pieris Finance offers a wide-ranging portfolio of services, which includes fixed deposits, leasing, hire purchase, Islamic finance, savings, business loans and home loans. 

NDB Araliya provides life insurance

National Development Bank PLC (NDB) Araliya is a unique financial proposition that will focus on developing a woman’s life not only in terms of financial well-being but also in developing her skills, health and intellectuality whilst giving her the strength, security and confidence to realize aspirations in her journey of life. 

Insurance industry records 15.5% GWP growth in 3Q17

The insurance industry was able to achieve a growth of 15.53 percent (3Q 2016: 16.97 percent) in terms of overall gross written premium (GWP), at the end of the third quarter of 2017, recording an increase of Rs.15, 862 million when compared to the same period in the year 2016.

A year into OPEC’s production cuts, Asia’s oil markets have tightened

Just over a year into production cuts lead by OPEC and Russia, oil markets in Asia have tightened noticeably as significant amounts of excess crude have been taken off tankers used for storage and delivered to customers across 

The HR mantra that guides thriving companies

As a leader it is our job to focus on getting things done on time with acceptable quality and within the allocated budget.

Envisioning a path to a more inclusive, affordable Lankan healthcare system

Elaborating on the ramifications of the many changes happening in the local healthcare sector, Sri Lanka Chamber of Pharmaceutical Industries (SLCPI) Chairman Shyam Sathasivam called for greater partnership between the public and private sector stakeholders in order to preserve and enhance the country’s existing facilities while developing specialized capabilities to shift the goal of healthcare outcomes from treatment to 

Ceylon Guardian leads skills development programme for women in south

The Youth to Nation Foundation (YNF), the corporate social responsibility arm of Ceylon Guardian, conducted a workshop in Hambantota recently to impart training on manufacturing footwear.

Arpico Finance-SSC partner to construct a pavilion

Arpico Finance Company PLC (AFC) will put its mark on Sri Lanka’s most historic cricketing venue, the Sinhalese Sports Club (SSC), by sponsoring the construction of a pavilion that will have a 1,000 seat capacity spread over three levels.