SLT Broadband boosts data plans for the new year 2018

Sri Lanka Telecom (SLT), the national telecommunications service provider boasts of the market's biggest data

Rafi Group celebrates two years in business in Sri Lanka

Rafi Group Pvt Ltd which is founded by and comprising of three brothers who have made strides and great endeavours in the world of business, celebrates 2 years in Sri Lanka. 

Lanka Hospitals successfully performs first ever minimally invasive lumbar fusion

Lanka Hospitals Corporation PLC recently announced that it has successfully performed a highly specialised spine surgery called minimally invasive lumbar fusion with navigation assistant.The internationally accredited, mult

INSEE Cement rewards loyal customer with Rs. 1 mn worth cement

‘Athek Barata Cementhi’, the last major consumer campaign implemented for 2017 by INSEE Cement saw an overwhelming response from Individual house builders island-wide, with Chandika Rajapaksha from Kaleliya, Meerigama, walking away with the grand prize of Rs. 1 million worth of INSEE Sanstha Cement. 

KTI opens Farlin Baby Store at Ninewells Hospital

Kiddies & Toys International (KTI), Sri Lanka’s leading distributor of premium mother and childcare brands, in partnership with Ninewells Hospital recently unveiled their latest showroom Farlin Baby Store by Cool Kidzat the hospital for easy access by new families.

EFL leads the way in sustainable logistics to obtain ISO certification

Leading global logistics provider, Expolanka Freight (EFL) once again set a new industry benchmark obtaining of ISO 14064 certification for the second consecutive year in recognition of its outstanding efforts in recording, monitoring and reducing greenhouse gas emissions across its entire scope of operations.

ACCA platinum employer WNS outlines future of finance outsourcing

With many companies using finance outsourcing to add value, increase business flexibility and prepare for future growth, the Association of Chartered Certified Accountants (ACCA) has played a significant role in being at the forefront of supporting finance outsourcing organizations to build talent by tailoring their qualification to suit the unique requirements and business capabilities needed by this industry.

Sultan of Johor invests in US $ 10mn pharma manufacturing zone in Sri Lanka

State Pharmaceuticals Manufacturing Corporation of Sri Lanka (SPMC) and Pharma Zone (Pvt.) Ltd entered into an agreement to build the first-ever exclusive pharmaceutical manufacturing zone in Sri Lanka in the Welipenna area of the Kalutara District, at an investment in excess of US $ 10 million. 

Lankan banks to boost issuance of Basel III-compliant Tier 2 instruments this year: Fitch

The Sri Lankan banks are likely to significantly boost the issuance of Basel III-compliant Tier 2 instruments in 2018, Fitch Ratings said yesterday.

Shares climb to near 7-week high; net foreign inflow for this year tops Rs.2bn

REUTERS:  Sri Lankan shares rose yesterday to a near seven-week high as blue-chip shares such as John Keells Holdings PLC gained, while foreign investors continued to buy the island nation’s risky assets.

Australia-Sri Lanka trade tops A$ 1.3bn

The bilateral trade between Australia and Sri Lanka has surged to a record high of Australian dollars (A$) 1.3 billion in 2016-17, on the back of strong growth in trade in services, up more than 27 percent, the Australian High Commission said in a media communiqué. 

Cabraal says his hands are clean

Former Central Bank Governor Ajith Nivard Cabraal yesterday denied that any wrongdoing related to bond auctions had occurred during the period from 2008 to 2014, as alleged by the prime minister.

Insurance red alert: Overseas fly-by-nights holding out as brokers illegitimately

Overseas companies are acting and holding themselves out as insurance brokers, when they are clearly not authorized to do so. These companies are not registered insurance and reinsurance brokers in Sri Lanka, as required by the Regulation of Insurance Industry Act No. 43 of 2000, industry sources said. 

Sri Lanka to raise US $ 500mn via bonds, divesting state hotels amid debt

REUTERS: Sri Lanka aims to raise US $ 500 million this month via development bonds and is in the process of divesting two state-owned hotels, the Central Bank and a ministry said yesterday, as the government faces unprecedented debt repayment this year.

SilkAir first to fly Boeing 737 MAX 8 to Australia

SilkAir, the regional wing of Singapore Airlines became the first airline to fly the Boeing 737 MAX 8 to Australia yesterday.

NDB Wattala branch renovated to serve customers better

The National Development Bank PLC renovated and reopened its Wattala branch to a more spacious and a conveniently accessible location in a bid to provide a better service experience to people in the area. 

ComBank launches three more regional biz clubs

The Commercial Bank of Ceylon PLC recently conducted three regional launch events in the Uva – Sabaragamuwa, Southern and South Western regions of the country to launch Biz Clubs for SME customers of the bank.

Pan Asia Bank shines at National Business Excellence Awards

Pan Asia Bank was recognized for the excellence of its business practices for the third consecutive year at the National Business Excellence Awards 2017 held recently.

Emirates makes Dubai even more attractive with ‘My Emirates Pass’ extension

Emirates is extending its popular My Emirates Pass programme to customers visiting Dubai this winter season. 

How China’s Belt and Road builds connections

As the dust settles from the Chinese Communist Party’s 19th Congress, one of the strongest edifices left standing is Xi Jinping’s signature foreign policy initiative — the US $ 1 trillion Belt and Road Initiative (BRI). Two members of the BRI Leading Small Group, Wang Hunning and Wang Yang, 

SLAITO and THASL hail promotion plan of Sri Lanka Tourism

In a joint communique, The Sri Lanka Association of Inbound Tour Operators (SLAITO) and The Hotel Association of Sri Lanka (THASL) appreciated the efforts by Sri Lanka Tourism Promotions Bureau (SLTPB) and Sri Lanka Tourism Development Authority (SLTDA) to expedite the Digital advertising campaign planned for early 2018 and the global advertising campaign scheduled for mid of this year.

CAL introduces SL’s first digital govt. securities trading app

Capital Alliance Ltd (CAL) recently launched Sri Lanka’s first online bond trading app in an effort to take government securities trading to the future and make it more accessible.

Management of liquidity risk in banks

In the business of banking, there will be inflows of resources (i) deposits under various schemes, (ii) borrowings, (iii) raising capital/bonds and so on as part of resource mobilization. 

Apple should address youth phone addiction, say two large investors

REUTERS:  Apple Inc. shareholders Jana Partners and the California State Teachers’ Retirement System are urging the smartphone maker to take steps to address what they say is a growing problem of young people getting addicted to Apple’s iPhones, Jana partner Charles Penner said.

Mobitel partners HMD Global to promote latest Nokia Android smartphones

Sri Lanka’s national mobile service provider, Mobitel, has entered into a partnership with HMD Global to launch a special seasonal campaign to promote the latest Nokia Android devices.

Seylan Bank welcomes 2018 with great prospects

Senior management and staff of Seylan Bank ceremoniously welcomed the dawn of the New Year at the Seylan Bank Head Office in Kolpetty, whilst commencing the first working day for 2018.Seylan Bank’s island-wide branches also celebrated the New Year with various multi-religious ceremonies that enhanced the cultural values of the respective branches. 

The disconnect between education and skill training

Many employers in the country unlike before want more funding and more attention toward vocational education and training. This is in line with many of the surveys internationally that suggest that a shift would have widespread employer support, given the shortage of job-ready people. 

2017 safest year on record for commercial passenger air travel

REUTERS:  Airlines recorded zero accident deaths in commercial passenger jets last year, according to a Dutch consulting firm and an aviation safety group that tracks crashes, making 2017 the safest year on record for commercial air travel.

Smart ATM Solution by Virtusa recognised at IBA 2017

Virtusa Corporation, a global business consulting and IT outsourcing company, announced that it has been awarded a Bronze Stevie Award at the 2017 International Business Awards (IBA) for Best New FinTech Product or Service of the Year for the company’s Smart ATM solution, a unique thin client application.

Environment-friendly candidate for CMC

As part of his environment and ecological-friendly election campaign, Sampath Rambukkanage, the candidate for Pamankade (East) in the Colombo Municipal Council (CMC), is using a small fully electric car as his mode of personal transport.