Theagarajah assumes duties as Cargills Bank MD/CEO

Cargills Bank Limited yesterday announced the appointment of Rajendra Theagarajah as its Managing Director (MD)/Chief Executive Officer (CEO) from January 1, 2018.  

Crown Royal Security Services Wins Excellence Merit Award at the Social Dialogue & Workplace Coopera

Crown Royal Security Services (Private) Limited, a member of the Crown Royal Holdings (Pvt) Ltd, recently received a merit award in the large scale of the service sector category at the Social Dialogue & Workplace Cooperation Awards 2017 organized by the Ministry of Labour, Trade Union Relations and Sabaragamuwa Development held at BMICH on 14th December, 2017

CB wants resources at govt.’s statistics office beefed up

The Census and Statistics Department (DCS) requires more resources if the new economic measurements introduced are to be followed properly, the Central Bank said last week.

WiLAT Sri Lanka celebrates fourth anniversary of ‘Ignite’ mentoring programme

Women in Logistics and Transport (WiLAT) Sri Lanka celebrated the fourth anniversary of its flagship mentoring programme on November 16th at The Kingsbury Hotel, Colombo.

USAID-funded YouLead! programme holds first leadership forum

The United States Agency for International Development (USAID)’s initiative to strengthen youth employability and skills development project, YouLead!, concluded a four-day youth leadership forum on December 9th, 2017 at Trace Expert City, Colombo.

Pathfinder Foundation Director addresses Second International Blue Economy Dialogue

As much as 40 percent of the world’s oceans are adversely affected by human activities, including pollution, depleted fisheries and loss of coastal habitats, stated Pathfinder Foundation Center for Indo-Lanka relations Director Admiral Dr. Jayanath Colombage attending the second International Blue Economy Dialogue in Dhaka, Bangladesh.

Central Bank sets record straight on CIFL

The Central Bank last week defended itself against the accusations of misconduct made by the stakeholders of the troubled financial institution, Central Investment and Finance PLC (CIFL), saying that the banking and finance sector regulator has acted according to the regulations in this particular case.

INSSSL launches Annual Memorial Lecture Series in honour of Lt. Gen. Denzil Kobbekaduwa

The Institute of National Security Studies Sri Lanka (INSSSL) launched an Annual Memorial Lecture Series in honour of Lieutenant General Denzil Lakshman Kobbekaduwa.

Imperial Spices receives Gold and Silver awards at NBE 2017

Imperial Spices, a leading exporter of spices, was presented with the much coveted Gold award for Excellence in Business and Financial Results and Export Sector (Large Category) and a Silver award in Large category at the National Business Excellence Awards Ceremony 2017 organised by the National Chamber of Commerce of 

Pee Bee Group bags prestigious ACES and BIZZ global awards

Pee Bee Management Services (Pvt.) Ltd, manufacturer and owner of Flora Tissues household brand, was recently crowned with a prestigious BIZZ award by World Confederation of Businesses (WORLDCOB) for its inspiring business journey in addition to being titled a top SME in the Asian region at the Asia Corporate Excellence and Sustainability (ACES) 

December consumer inflation eases slightly to 7.1%

Sri Lanka’s consumer prices in December rose 7.1 percent from a year earlier, easing from the previous month’s 7.6 percent, government data showed yesterday.  Core annual inflation, which excludes fresh food, energy, transport, rice and coconuts, also cooled to 4.3 percent in December on an annual basis, from the previous 

PA commends swift actions taken to lift tea ban by Russia

The Planters’ Association of Ceylon (PA) yesterday commended the Plantation Industries Ministry, Sri Lanka Tea Board and all other state and diplomatic officials that played a role in negotiating the lifting of the temporary suspension of Lankan tea imports by the Russian Federation.

Rupee falls; down 2.5% in 2017

REUTERS: The Sri Lankan rupee closed lower yesterday, ending the year 2.5 percent weaker, as demand for dollars from importers and banks outweighed inward remittances and conversion of the U.S. currency by exporters, dealers said. 

Shares rise; up 2.3 pct in 2017

REUTERS:  Sri Lankan shares rose for a sixth straight session in muted trade yesterday, ending 2017 with a modest 2.3 percent gain after two consecutive  annual losses.

India likens crypto cash to Ponzi schemes

AFP: India warned yesterday against investing in cryptocurrencies including bitcoin, likening them to “Ponzi schemes”, as it became the latest country to urge caution. Despite a boom in trade that has seen prices soar, cryptocurrencies “don’t have intrinsic value and are not backed by any kind of assets,” the Indian finance ministry said in a statement.

CA Sri Lanka launches revised Code of Best Practice on Corporate Governance 2017

In continuing to give leadership to corporates in the country to adhere to the best practices of corporate governance, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) recently launched the revised Code of Best Practice on Corporate 

Dollar heads into year 2018 on weaker note, Asia stocks mostly up

AFP: The dollar suffered fresh pressure yesterday as traders cash in the recent gains fuelled by Donald Trump’s tax cuts, while most Asian equities were on course to end a strong year on a positive note.

Bali declares ‘garbage emergency’ amid sea of waste

AFP: Bali’s palm-fringed Kuta beach has long been a favourite with tourists seeking sun and surf, but nowadays its golden shoreline is disappearing under a mountain of garbage.

Marginal impact on Lankan exports by US GSP pause : Rishad

Non-renewal of US Generalized System of Preferences (GSP) does not affect our US trade in a significant way, said Industry and Commerce Minister Rishad Bathiudeen at a meeting with top officials at his ministry yesterday.  

Samson Rajarata Tiles wins at 2017 National Business Excellence Awards

Samson Rajarata Tiles (Pvt.) Ltd. was acclaimed the Winner in the Chemicals, Ceramics and Glass Manufacturing

Japan’s Nomura poised to start China retail brokerage business: CEO

REUTERS: Nomura Holdings Inc is ready to serve wealthy Chinese as soon as the world’s second-largest economy allows foreign financial institutions to open securities brokerages, the Chief Executive of Japan’s biggest brokerage and investment bank said.

Fairfirst Insurance partners with All-Island School Children Transport Association

Fairfirst Insurance’s latest partnership was with the All-Island School Children Transport Association, an independent body of school van drivers whose objective is to raise awareness on the yellow colour school van concept and ensure the safety of the children travelling in them. 

HNB holds annual Christmas carols

The much awaited annual Christmas carols presented by the HNB staff was held at the bank’s auditorium on the 15th of this month with Malcom Cardinal Ranjith gracing the occasion. 

NDB delights children with surprise Santa

A child’s greatest wish during the festive season is to see the famed Santa Clause bring gifts, and NDB made that wish come true.

ComBank opens 261st branch in Kolonnawa

The Commercial Bank of Ceylon recently opened its 261st branch in Sri Lanka in Kolonnawa, strengthening its presence in the north eastern outskirts of Colombo city. 

SDB bank in association with Lanka Pay implements CEFT facility

SDB bank in association with Lanka Pay implemented the CEFT (Common Electronic Fund Transfer) facility for its valued customers in order to allow immediate fund transfers between accounts. 

Commercial Development Company moves to new premises

Commercial Development Company PLC, a subsidiary of the Commercial Bank of Ceylon, recently moved to new premises at 8-4/2, York Arcade Building,Leyden Bastion Road, Colombo 1. 

Calamander Unawatuna celebrates Christmas in style

Calamander Unawatuna Beach is celebrating Christmas with an array of dining, shopping and entertaining events for the week of the festive season from December 23rd to 31st.

Emirates celebrates ‘Year of Zayed’ in-flight and in the air

Emirates will be sharing the legacy of the late Sheikh Zayed bin Sultan Al Nahyan to a global audience in 2018.

UTE helps to boost Golf Tourism

United Tractor and Equipment (UTE), the local distributor for the world-renowned Caterpillar brand of equipment hosted the annual Caterpillar Far East Dealers Association Conference (CFEDA) for 50 overseas delegates from Caterpillar and their South-East Asian dealers, including India and China at the Shangri-La Hotel, Colombo recently.