Sisila Lanka selects PBSS as SAP business one partner

Sisila Lanka (Pvt.) Ltdintroduced SAP Business one for its operations and selectedPerfect Business Solutions Services (Pvt.) Ltd (PBSS) as its implementation partner.

Fonterra’s local dairy programme surpasses Rs. 3 bn in three years

Fonterra Brands Sri Lanka, the dairy co-operative behind Anchor, recently surpassed the Rs. 3 billion investment-mark in its commitment to building a thriving local dairy industry and boosting the availability of high quality, local dairy nutrition for Sri Lankans. 

India’s response to Chinese Belt and Road Initiative

For decades, China has been both a focal point of India’s foreign policy and its main rival on the international scene. The defeat in the 1962 war, China’s economic, military and political support for Pakistan and incidents at the disputed border, as in Doklam in summer 2017, have contributed to India’s concerns vis-à-vis China. 

OPPO launches all-new Dashing Blue Limited Edition

OPPO, the selfie expert unveiled a Dashing Blue Limited Edition of OPPO F5 recently.  This striking new color edition continues the success of the F5 series, OPPO’s first full-screen model featuring groundbreaking A.I. beauty recognition technology designed to personalize beautification. Priced at Rs.49,990 and just in time for Valentine’s Day, the OPPO F5 Dashing Blue Limited Edition will be available from16th February across co

Serendib Technologies introduces new Mi smartphones and accessories

Serendib Technologies Asia (Pvt) Ltd., the official national representative and distributor of fastest growing smartphone brand Mi, has recently announced the expansion of its existing portfolio with further products. 

Mitra Innovation and United Planet seal strategic enterprise portal partnership

The classic intranet is dead.As platforms purely for information they have offered too little additional value and many companies have been replacing them with effective enterprise portals.These portals provide employees with all the important workflows and processes from a central location, and promote knowledge exchange and cooperation.

New study finds emerging ‘Cloud Masters’ group accelerating ability to outperform peers

A new group of ‘cloud masters’ is emerging according to a global survey of 730 IT professionals conducted by Longitude. 

Learning to love Artificial Intelligence

This Valentine’s Day, millions of people across Asia - and around the world - will express their feelings and celebrate the special relationships they have with their loved ones, through the exchange of cards and gifts in a tradition that can be traced back to the medieval era.

Seylan Bank partners LankaPropertyWeb.com to offer premium home loan facilities

Seylan Bank recently entered into a partnership with LankaPropertyWeb.com, Sri Lanka’s largest property manager to offer premium home loan facilities.

Kanrich Finance appoints new chairman

Kanrich Finance, spanning over 45 years of extraordinary service in the Sri Lankan finance industry, announced recently that former Chairman P.A. Pemathilaka has retired from his exceptional service towards Kanrich and Dr. W.M. Hemachandra, an outstanding figure in the Sri Lankan financial sector, is appointed as the new chairman of Kanrich Finance.

Nations Trust Bank and Unigiros reward inward remittances

Nations Trust Bank partnered with Unigiros, a remittance services provider in Israel, to facilitate easy remittances to Sri Lanka for the growing Sri Lankan community in Israel.

IFRS 9 to drive modest rise in insurers’ income volatility: Fitch

Insurers are likely to see a moderate increase in investment income volatility following the implementation of IFRS 9 accounting standards for financial instruments at the start of 2018, as more financial assets will be valued on a fair-value basis, says Fitch Ratings.

Exclusive offers for Amex card-members through NTB partnership with Sound of Music

The world-renowned Andrew Lloyd Webber production of ‘The Sound of Music’ will be performed in Sri Lanka from February 14th to 18th, marking the first time an award-winning West End show of such calibre is performed in the country.

RIL Property announces Rs.800mn rights issue to settle bank borrowings

RIL Property PLC this week announced plans to issue fresh shares to its existing shareholders to raise money in a bid to settle part of its bank borrowings that weigh on group profits.  

Sri Lanka’s first Ironman triathlon to generate US $ 3mn in tourism earnings

The first Ironman event in South Asia would be held from February 22-25 in Sri Lanka, with the Ironman 70.3 Colombo international triathlon and exhibition set to generate US$ 3 million in tourism earnings for the country and haul in high net worth influencers, the event organizers said.

Singer acquisition ups Hayleys top line, but leveraged buy-out weighs on group profits

The acquisition of Singer Sri Lanka PLC in a blockbuster deal last year boosted Hayleys PLC’s top line, but the leveraged buy-out is now weighing on the country’s most diversified conglomerate’s bottom line performance. 

SriLankan says Colombo-Melbourne route making profits

The Colombo-Melbourne daily direct flight operated by SriLankan Airlines has broken even and is making profits now, the airline said in a statement yesterday.  

Tariffs, wrong way to raise revenue: Harvard academic

Making a strong case for free cross-border trade, Harvard Kennedy School’s Professor Robert Lawrence, delivering a lecture in Colombo last week, highlighted that tariffs are the wrong way to raise revenue for a government.   

Sirio assists restoration of over 65 houses damaged from Badalgama tornado

Sirio, a leading export oriented apparel company in Badalgama engaged in a massive CSR programme, where the company offered financial assistance to restore 65 houses of Sirio Ltd employees and people in the vicinity who suffered heavy losses due to the recent tornado in Badalgama, which caused heavy damage to houses.

KIU offers scholarships to children of tea small holders

Tea Small Holdings Development Authority’s award ceremony was successfully held recently at KIU Auditorium.KIU launched Rs.500,000 worth of scholarships to children of tea small holders at the event. 

Biodiversity Sri Lanka heads project to reforest Kanneliya Conservation Forest

Biodiversity Sri Lanka in partnership with Forest Department, IUCN Sri Lanka and Private sector partners have decided to initiate a pilot project to reforest a 10 hectare block in the Kanneliya Conservation Forest that has been completely degraded due to human activity by applying an ecological restoration modelling approach.

Hemas Piyawara unveils childcare center at Welikada prison

Hemas Outreach Foundation (HOF), the CSR arm of Hemas Holdings PLC together with the Welikada Prison Department, unveiled the newly refurbished Child Care Center on February 4th 2018, at the Welikada prison complex.

BRICS-plus: Alternative globalization in the making?

Against the backdrop of waning integration impulses in the developed world, the largest developing economies are forging ahead with new initiatives directed at revitalizing regional integration.

Singaporean companies explore investment opportunities in Sri Lanka

The Singapore Business Mission to Sri Lanka organised by the Singapore Business Federation (SBF) together with International Enterprise Singapore (IES) and Singapore Indian Chamber of Commerce and Industry (SICCI) recently held a seminar on doing business in Sri Lanka, at Paramount Tower, Nawala.  

Passenger and cargo handling capacity at BIA will be doubled in next 5 years: AASL

We are a government-owned company with statuary powers to manage and develop civil airports in Sri Lanka. That includes Bandaranaike International Airport (BIA), Mattala Rajapaksa International Airport (MRIA) and Colombo Airport Ratmalana. 

Dhananath Fernando wins US$ 10,000 for Sri Lanka in Think Tank Shark Tank in Asia

Advocata Chief Operating Officer Dhananath Fernando won the Asia Think Tank Shark championship in Jakarta for a research study on ‘Cost of Construction and protectionism’.  Asia Think Tank Shark Tank is a championship for Asians to pitch their ideas on creating impact on public policy for helping economic prosperity in Asia. 

Amaleans, Seylan Bank biggest subscribers to Jetwing Symphony IPO

Seylan Bank and the Amaleans were the biggest buyers of the Jetwing Symphony (JETS) shares during its Initial Public Offering, according to the first interim financial statement of JETS.

Taxiyak provides ease and flexibility in taxi booking and scheduling

Taxiyak, the latest taxi booking and trip-scheduling app, which offers the most flexible trip planning and scheduling options, has entered the market.

UTE Engineering finds solutions to training problems

The UTE Engineering arm of United Tractor and Equipment (Pvt.) Ltd (UTE), recognised as one of the nation’s premier engineering solutions providers is firmly committed to help grow the country’s skilled technical workforce and enhance their capabilities.

Central Industries PE water-pipes conferred with British WRAS certificate

Central Industries PLC which produces Sri Lanka’s leading water-pipe and accessory brand ‘National PVC’ was conferred with WRAS certificate from Britain for the company’s PE (Polyethylene)