Deen Brothers wins FCCISL Gold and Bronze awards

Deen Brothers Imports (Pvt.) Ltd, a company which provides the best machines and electrical appliances at fair prices nourishing the Sri Lankan industrial sector, was able to win the Gold award for the Southern Province and the Bronze award in the National Level at Entrepreneur of the Year 2017 organised by the Federation of Chambers of Commerce and Industries of Sri Lanka (FCCISL).

IMF to hold discussion with govt. to phase out controls on repatriating export earnings

The International Monetary Fund (IMF) will soon begin discussions with the Sri Lankan government on the pace of abolishing the controls on repatriating export proceeds.

SDB bank holds SME workshop at Anamaduwa

In order to rejoin the pensioners and retired war heroes to the Sri Lankan workforce and to direct them towards income generating businesses, SDB bank held “SDB Divi Saviya” workshop on November 27 at Sudampaya Town Hall, Anamaduwa. 

Mastercard leads conversations at digital and innovation workshop

Mastercard hosted over 210 senior representatives from banking, financial services and retail, as well as other key stakeholders at the inaugural Digital & Innovation workshop held at The Hilton, Colombo recently.

LB Finance crowned Sri Lanka’s top Finance and Leasing Brand

L B Finance, a leading financial services brand in Sri Lanka was listed among the top 20 brands at Interbrand’s Best Sri Lankan brands. 

How long can this bull market last?

2017 was a good year for investors. A benchmark of global stocks rose almost 22 percent during the year, registering its strongest gain since 2009’s rebound-from-recession, while global investment grade bonds rose more than 7 percent, marking their biggest yearly rise since 2007. While it’s tough to repeat this sterling performance, the broader macroeconomic outlook suggests that 2018 is likely to be another constructive year for inve

Singapore Central Bank head hopes cryptocurrency tech will survive ‘crash’

REUTERS: Singapore’s Central Bank head said yesterday he hoped the technologies underpinning cryptocurrencies such as blockchain would not be undermined by an eventual crash in the virtual coins.

Floor at Indonesia’s stock exchange collapses, 75 injured

AFP: At least 75 people were injured yesterday when a mezzanine floor at Indonesia’s stock exchange building collapsed into the lobby, police said, with victims carried out of the debris-filled building on stretchers.

Altair sponsors 146th AGM of Colombo Club

Altair, Colombo’s most distinctive luxury living marque, was the sponsor of the 146th Annual General Meeting and gala dinner of the Colombo Club, one of the oldest and most exclusive social clubs in Asia.

Global Peter Drucker Forum recognises Stax Research Head

Stax Research Head Piyumi Kapugeekiyana, Ph.D, was recently a finalist and received a special mention for having the ‘Most Original Submission’ within the Professionals category at the ‘Peter Drucker Challenge’ organised for the ninth consecutive year by the Global Peter Drucker Forum (GPDF).

Global Peter Drucker Forum recognises Stax Research Head

Stax Research Head Piyumi Kapugeekiyana, Ph.D, was recently a finalist and received a special mention for having the ‘Most Original Submission’ within the Professionals category at the ‘Peter Drucker Challenge’ organised for the ninth consecutive year by the Global Peter Drucker Forum (GPDF).  

Perfect Business Solutions shines at FCCISL Annual Awards 2017

Perfect Business Solution Services (Pvt.) Ltd (PBSS) was rewarded with two Silver awards in the National and Western Province Medium category, at the recently concluded Federation of Chambers of Commerce and Industry of Sri Lanka  (FCCISL) Awards 2017, held at the BMICH.

NDB Toastmasters awarded accolades at Reverberation 2017

The National Development Bank PLC (NDB) Toastmasters Club was presented with the prestigious Golden Gavel Award for the third consecutive year at the Reverberation 2017 - Toastmasters International Conference, held in Chennai recently.

DFCC Bank becomes official banking partner for Fairway Galle Literary Festival 2018

As the official banking partner for the Fairway Galle Literary Festival to be held from January 24 to 28, 2018, DFCC Bank aims to strengthen its commitment to supporting literature and art in Sri Lanka.

Leema Creations wins Silver at Entrepreneur of the Year Awards

Leema Creations (Pvt.) Ltd, the leading total interior service provider and furniture manufacturer, won the Silver award for the Large Category segment at Entrepreneur of the Year Award 2017, organised annually by the Federation of Chambers of Commerce and Industry.

Fraternity youth entrepreneurship loan scheme

Merci Lanka Foundation, the pioneer interest free non-profit micro-finance organisation has launched a national reconciliation and integration week to express solidarity with President Maithripala Sirisena’s initiative to promote and strengthen peace, harmony and fraternity among all religions.

Tribute to Deivanayagam Eassuwaren, a gentleman par excellence

It is with profound sorrow that the National Chamber of Commerce records the demise of one of its well-respected past Presidents, Deshabandu Deivanayagam Eassuwaren.

MTI sets up new smart office at Spence Towers

MTI Consulting, Sri Lanka’s leading strategy consultancy with an international footprint, has moved into its new smart office at the Aitken Spence Towers on Vauxall Street.

Indonesia Central Bank warns over cryptocurrencies

REUTERS: Indonesia’s Central Bank has issued a fresh warning about trading in cryptocurrencies like bitcoin because of the risk of losses to the public and even a potential threat to the stability of the financial system.

Sri Lanka 2017 tourist arrivals hit record high

REUTERS: Tourist arrivals to Sri Lanka hit a record high in 2017, with the number of foreign visitors in December rising 8.8 percent year-on-year to an all-time monthly peak.

SLPA receives second payment of US$ 97.3mn from CMPort for Hambantota port

China Merchant Port Holdings (CMPort) made the payment of US$ 97.365million to the Sri Lanka Ports Authority (SLPA) as the second tranche of its investment in the Hambantota port.

Stanford MBA students visit Aitken Spence on study visit

Thirty MBA students and several professors from Stanford University visited Aitken Spence PLC as part of an intensive study tour to Sri Lanka recently. 

CAL at forefront in Sri Lanka’s capital markets last year

Sri Lanka’s number one investment banking firm and the preferred partner in financial markets, Capital Alliance Partners Limited (CAL), enters the year 2018 on a high note. 

Chile slams World Bank for bias in competitiveness rankings

REUTERS: Chilean officials on Saturday criticized the World Bank, saying it treated the South American country unfairly in its closely watched annual ‘Doing Business’ competitiveness rankings.

People’s Bank celebrates Thai Pongal

A special ceremony was organized to commemorate Thai Pongal at the Kotahena branch of People’s Bank under the patronage of Chief Executive Officer/General Manager of People’s Bank, N. Vasantha Kumar. 

Building higher reserves shouldn’t be done at all costs: IMF

The Central Bank of Sri Lanka must be careful when building up more foreign reserves than planned if they come at the cost of overall macroeconomic performance, according to the International Monetary Fund (IMF).

Asian markets mostly higher as Hong Kong extends record run

AFP:  Most Asian markets resumed their positive start to the year yesterday with Hong Kong extending its record run to 14 days while the euro held gains after the previous day’s jump.

BMW drives to new sales record but still lags Mercedes

AFP: German high-end carmaker BMW said yesterday it booked record sales for the seventh year in a row in 2017, but continued to trail rival Mercedes-Benz. The Munich-based group said in a statement that sales of its core BMW-brand cars rose by 4.2 percent to almost 2.1 million last year. 

Rupee ends weaker on importer dollar demand

REUTERS: The Sri Lankan rupee closed weaker yesterday as dollar demand from importers and banks surpassed mild conversions by exporters, dealers said.  The spot rupee traded at 153.97 during the day before ending at 153.95/154.05, compared with Thursday’s close of 153.80/85. 

Shares hit over 1-week closing low; blue chips see selling

REUTERS: Sri Lankan shares fell for a fourth straight session yesterday to hit a more than one-week closing low on profit-booking in blue chip stocks.  The Colombo Stock Index ended 0.35 percent weaker at 6,473.62, its lowest close since Jan. 4.