Interim orders awarded inter parte against Ali Asger Shabbir

The members of the Gulamhusein family have obtained a series of interim orders against Ali Asger Shabbir, the youngest son of the reputed businessman, the late Dr.Shabbir Abbas Gulamhusein, regulating the affairs of Adamexpo Limited. Ali Asger Shabbir had claimed that Dr. Shabbir Gulamhusein sold to him 99.99 percent shares of Adamexpo Limited prior to his death. 

Cash-strapped Sri Lanka to raise US $ 5bn in bonds in 2018

AFP: Sri Lanka said yesterday it hopes to raise a record US $ 5.0 billion through bond issues this year as it seeks to repay its substantial debts.

CB expects economy to grow 5-5.5% this year

The Central Bank expects Sri Lanka’s economic growth to pick up pace this year despite the subdued growth in 2017, which is estimated to be below 4 percent, lower than the projected 4.5-5 percent growth at the beginning of the year.

CB announces 6-month programme to revive ETI Group finance firms

The Central Bank on Tuesday revealed a host of measures to bring the illiquid, mismanaged, non-banking financial institutions (NBFIs) in the ETI Group back into liquidity within six months, after placing the management of the parent company in the hands of an expert panel. 

Jiffy Products Sri Lanka wins multiple awards at NBEA 2017

Jiffy Products Sri Lanka recently won three awards at National Business Excellence Award 2017.

Grim year ends for Darjeeling tea

The Hindu: The embattled Darjeeling tea industry will close 2017 with one of its lowest outputs, estimated at about three million kilograms as against the average annual crop of about 8.5 million kilograms over the last few years.

Jiffy Products Sri Lanka receives multiple awards

Jiffy Products Sri Lanka recently won three awards at National Business Excellence Award 2017. The company

DFCC Bank launches a New Year ‘Season of Gifts’ campaign across the branch network

Perseveringin its mission to inculcate the savingshabit amongst the nation’s population, DFCC Bank yet again introduces

PLC conferred multiple awards at Annual Report Awards 2017

People’s Leasing and Finance PLC (PLC), the leading non-bank finance company in Sri Lanka was conferred with two coveted Gold awards, a Silver award and a Bronze award at the 53rd edition of the ‘CA Sri Lanka Annual Report Awards 2017’ held at the BMICH, recently.

National Savings Bank begins new year on high note

National Savings Bank commenced the first working day of the new year, 2018, by a ceremonious event held at the Head Office Premises of NSB in Kollupitiya, on January 2nd 2018, in the morning hours.

HDFC Bank India to raise US$3.75 bn from share sale

REUTERS: HDFC Bank Ltd, India’s second-biggest lender by assets, said recently it would raise up to 240 billion Rupees (US$3.75 billion) to fund growth by selling shares to investors, including a preferential issue to its parent HDFC Ltd.

Pan Asia Bank welcomes 2018

The Chairman, the senior management and the staff of Pan Asia Bank ceremonially welcomed the year 2018 at its Head Office in Colpetty on the 2nd January, the first working day for the 

Amana Bank opens first self-banking centre at Slave Island

Amana Bank inaugurated its first self-banking centre at Slave Island under the patronage of Chief Executive Officer Mohamed Azmeer alongside the bank’s Director Jazri Magdon Ismail and members of the management committee.

Seylan Bank reaches milestone opening 150th Pahasara library

Seylan Pahasara, Seylan Bank’s flagship CSR initiative which has transformed many underprivileged school libraries with access to quality education, reached milestone achievement with the opening ofthe 150thPahasaralibrary at C W W Kannangara Vidyalaya amidst distinguished gathering. 

Hayleys’ Puritas Sath Diyawara wins National Energy Globe Award

Puritas, a subsidiary of Haycarb PLC and a member of Hayleys Group was presented with the National Energy Globe Award Sri Lanka 2017 in recognition of its efforts to provide quality drinking water for Sri Lankans living in the areas affected by Chronic Kidney Disease (CKDu).

CSSL re-elects past year’s Executive Council members

 Yasas V. Abeywickrama was re-elected as President of Computer Society of Sri Lanka (CSSL) on December 5th at the AGM held at Taj Samudra Hotel for the year 2018. 

BeWaxed to open waxing salon at ‘The Mall at One Galle Face’

Sri Lanka’s premier waxing salon BeWaxed will feature among top-notch luxurious brands at ‘The Mall at One Galle Face’. Due to open in 2019, The Mall will be a welcome addition to a growing metropolis that is the city of Colombo. 

Sadaharitha sees exciting career paths sprouting from commercial forestry

With the world focusing on the need to conserve the environment for posterity, commercial forestry has come to the forefront as a way of preserving planet earth’s delicate eco system, encouraging more and more people to focus on keeping our world green.   

SriLankan Airlines: Turnaround or crash land ?

A lead article on SriLankan Airlines (‘A pawn in the political chess game’ Daily Mirror, November 10, 2016) concluded a year ago that “All governments that have ruled the country so far, should admit that the state-owned enterprises (SOEs) are making and have become an unbearable burden on the country’s economy due to their stupid and rash actions.”

EY talks of things to know about Fourth Industrial Revolution

Like the three that preceded it, the Fourth Industrial Revolution will mark a significant change in the way we work. Made possible by the emergence of digital systems, networked communications, machine learning and large-scale data analysis, it refers to the increasing integration of these technologies into business and production processes in order to make them self-sustaining and more efficient.

Pathfinder inaugurates Centre for the Law of the Sea

The Pathfinder Foundation commenced the new year by inaugurating its Centre for the Law of the Sea (CLS) at  ‘Riverpoint’, Peliyagoda. 

SLPA commences work for 2018

The Sri Lanka Ports Authority (SLPA) commenced the new year with the government’s pledge for all public sector employees. 

Critical EU GSP Plus listing opens for Lankan exporters

Sri Lanka’s first-ever European Union (EU)-mandated GSP exporter listing call went live on the web yesterday. 

New Chairman, GM at Convention Bureau

The Tourism Development and Christian Religious Affairs Ministry announced the appointment of two new officials to the Sri Lanka Convention Bureau (SLCB) with effect from yesterday.

SLCPI welcomes Health Ministry’s move to increase price of drugs by 5%

The Sri Lanka Chamber of the Pharmaceutical Industry (SLCPI) in a statement to media said they were grateful for the effective action taken by the Health Ministry in increasing the price of drugs by 5 percent.

Tower tax, if implemented, will swell Mobitel’s tax bill by Rs.3bn: Fitch

The mobile tower tax proposed in the 2018 budget will result in the state-controlled Sri Lanka Telecom PLC’s mobile arm, Mobitel (Pvt) Ltd., paying Rs.3 billion as  additional taxes per annum, Fitch Ratings said. 

CB to announce Road Map for 2018 today

The Central Bank’s ‘Road Map 2018: The Monetary and Financial Sector Policies for 2018 and Beyond’, will be announced this morning at the ‘The Atrium’ of Central Bank of Sri Lanka. 

ETI Finance and Swarnamahal Financial placed under CB watch

The financial arms of the ETI Group, ETI Finance Ltd and Swarnamahal Financial Services PLC were subjected to temporary regulatory action by the Central Bank yesterday in view of the financial status of the companies.

Central Bank gives seal of trust to tourism statistics

Governor Coomraswamy says SLTDA’s survey methodology “pretty robust”

Flurry of board level changes at JKH; Krishan appointed Dep. Chairman

Sri Lanka’s top blue chip John Keells Holdings PLC (JKH) kicked off the New Year with a flurry of board level changes with the retirement of Deputy Chairman Ajit Gunewardene and Group Finance Director Ronnie Peiris with effect from December 31, 2017.