CB keeps policy rates steady despite scope for rate cut

Despite various macroeconomic indicators pointing towards the Central Bank’s ability to ease policy rates, the monetary and financial sector regulator yesterday opted to maintain rates due to the external economic environment and risks arising from the government’s budget.

Singer records over Rs.1bn worth sales of Huawei smartphones in 3 months in row

Singer Sri Lanka PLC, the exclusive distributor for Huawei smartphones in Sri Lanka has successfully recorded over Rs.1 billion worth Huawei smartphones across the country, consecutively during the months of November, December 2017 and January 2018. 

Lion Brewery says cheers in 3Q with tax cut

The tax cut on beer brought in last November has assisted Sri Lanka’s largest brewer, Lion Brewery (Ceylon) PLC (LION), to record strong top line and bottom line gains in the December quarter (3Q18), the interim financial accounts released to the Colombo bourse showed.

Rupee recovers as political uncertainty shows signs of easing

REUTERS: The Sri Lankan rupee ended firmer yesterday, a day after hitting a record low, as exporters and banks sold dollars amid signs of political uncertainty easing, dealers said.

Working on to get rid of money laundering destination label: Central Bank

Sri Lanka is hoping to get off the Financial Action Task Force’s (FATF) grey list for money laundering and terrorist financing this October, and the Central Bank has requested the cabinet for all its support in implementing the required changes under an action plan and a new  time frame.

Abans MD receives Order of Merit from South Korea

Behman (Tito) Pestonjee recently received the Order of Merit from the government of the Republic of Korea. 

Prof. Razeen Sally to address YPO Colombo Chapter

Prof. Razeen Sally from the National University of Singapore and the current Chair of the Institute of Policy Studies will give an insight on ‘Economic Take-Off & Young Professionals” organized by the Colombo chapter of the YPO (Young Professionals Organisation) on February 20th at the Lakshman Kadirigama Institute, , Horton Place, Colombo 07 from 5.30 p.m. onwards. Entrance is free. 

National Print Conference to be held on March 15

Sri Lanka Association of Printers will hold their biennial Print Conference on 15th March at Waters Edge, Battaramulla. 

Nestle launches first coconut flavoured milk beverage

With innovation and nutritional science being at the forefront in Nestle’s DNA, Nestle Lanka recently introduced ‘Nespray Coco-Up’, Sri Lanka’s first dairy milk beverage with coconut, at a launch ceremony held at Hilton Residencies, Colombo.

CB to call proposals for forensic audit on past bond, EPF dealings

The Central Bank will be calling for proposals from major audit firms to conduct an internationally-led forensic audit into treasury bonds issuances and the Employees’ Provident Fund (EPF) investment decisions during former Central Bank Governor Ajith Nivard Cabraal’s tenure, as recommended in the recent Presidential Commission of Inquiry (PCoI) report.

CHINT – On A Quest to Empower Sri Lanka

A renowned world-class player in the energy industry, CHINT is committed to providing secure, reliable and high quality 

Hirdaramani Partners with Patagonia for Reforestation Project

As part of its sustainable approach to business, Sri Lankan apparel manufacturer Hirdaramani Group partnered with US retailer,

Ekroma carves a unique identity with their scintillating upcoming real estate project

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

Tea industry stakeholders unite to call for lifting of glyphosate ban

In a strongly-worded statement, Sri Lanka’s tea industry stakeholders, including state-run Sri Lanka Tea Board (SLTB) Chairman Rohan Pethiyagoda, called on the policymakers to urgently re-evaluate the arbitrary ban imposed on glyphosate-based weedicides, in light of the overwhelming scientific consensus that the substance is not harmful to human health, most recently confirmed by the risk assessment for glyphosate conducted by the United St

CB’s LTV tweaking unlikely to lift electric vehicle market

Despite the Central Bank last week issuing directives to the banks and finance companies to significantly lift the restrictions on leasing on electric motor vehicles to align with the environmentalist spirit of the 2018 budget, the stakeholders were of the view that this would not lead to a boom in the electric vehicle market without further adjustments.

Slowdown in domestic sales hurt SL’s only glass bottle maker’s performance

Piramal Glass Ceylon PLC (PGC), Sri Lanka’s only glass bottle manufacturer, saw its December quarter (3Q18) earnings declining amid higher sales costs and slower top line growth, the interim financial accounts released to the Colombo Stock Exchange showed.

Smokers cough up Rs.117.3bn to govt. in 2017

The monopoly cigarette player, Ceylon Tobacco Company PLC (CTC), has paid Rs.117.3 billion to the state in excise, taxes and levies in FY17, compared to Rs.98.3 billion in FY16, the financial accounts released to the Colombo Stock  Exchange showed.

Rupee hits fresh record low as political uncertainty weighs

REUTERS: The Sri Lankan rupee hit a record low yesterday  as panicked importers bought US dollars following the defeat of the two ruling coalition parties in a local election, but late selling in the greenback by exporters capped the fall.

National Chamber workshop on ‘Import procedures and documentation’

 The National Chamber of Commerce will conduct a one-day  workshop on ‘Import procedures and documentation”with  Special attention on WTO Goods Valuation Agreement, WTO Trade Facilitation Agreement (TFA) and Goods Classification and  Harmonized System on  February 28 from 8.30 a.m. to 4.30 p.m. at the National Chamber Auditorium, Colombo 10.

Cargills Bank partners Ria to strengthen remittance services

Cargills Bank has partnered with Ria Money Transfer (Ria), one of the world’s leading money transfer companies, to enhance and strengthen its remittance services.

Global independent audit regulators to meet in Colombo

Independent audit regulators from around the world will gather to share their expertise during the 12th annual inspection workshop of the International Forum of Independent Audit Regulators (IFIAR) in Colombo.

Sampath Bank first to accept Alipay payments in Sri Lanka

Sampath Bank, one of Sri Lanka’s most innovative banks, has become the first bank in the country to partner with Alipay, the world’s largest online and offline payment platform operated by Ant Financial Services Group.

CDB’s business excellence recognized at NBE Awards 2017

Citizens Development Business Finance PLC (CDB) won a Gold Award in the NBFI sector for the second consecutive year and a Merit for Excellence in Performance Management at the recently concluded National Business Excellence Awards 2017.  

Gaps in Asia’s economic infrastructure

The gap between global infrastructure needs and global infrastructure investment is widening. Inadequate investment in transport, communications and energy networks is estimated to be US $ 26 trillion in Asia alone. 

PABC rewards top sales performers

Pan Asia Banking Corporation (PABC) recently awarded the branch staff, who performed exceptionally on credit card and personal loan sales in year 2017.

Seylan Bank honours top performers at Annual Sales Conference and Awards

Seylan Bank felicitated the top performers of 2017 at the bank’s Annual Sales Conference and Awards, which concluded at the Hilton Colombo  Residencies recently.

BOC launches flagship ‘BOC DIGI’ at Kandy City Centre

Bank of Ceylon (BOC), recognised as Sri Lanka’s number-one brand, as part of its digitalisation journey launched its first flagship ‘BOC DIGI’ in Kandy City Centre recently.

NDB to strengthen country’s senior citizens and pensioners

NDB Achara solely dedicates itself into lending a helping hand towards the senior citizens and the pensioners of our country.

Ceylon Tea promoted at Toronto Tea Festival

Consulate General of Sri Lanka in Toronto took part at the 6th Annual Tea Festival, organized by the Tea Guild of Canada, held at the Toronto Reference Library from 3rd - 4th  February with the support of the Sri Lanka  Tea Board.

Applications for National Skyline Awards extended

The deadline for applications for National Skyline Awards has been extended till February 26th 2018. An honours-board that recognises the most outstanding real estate and infrastructure developments in Sri Lanka and their initiators gets off the ground with on-line entries for Sri Lanka Skyline Awards are now open.