Constituent changes to S&P Sri Lanka 20 Index

The Colombo Stock Exchange (CSE) announces the following changes in the S&P Sri Lanka 20 index constituents made by S&P Dow Jones Indices at the 2017 year-end index rebalance.

Stocks and your portfolio: Keep an eye on concentration risk

When investing in the stock market, a diversified portfolio tends to be harder to achieve than simply following the mantra: don’t put all your investment eggs in one basket. This basic strategy can help but it is often not enough to avoid concentration risk—the risk of amplified losses that may occur from having a large portion of your holdings in a particular investment, asset class or market segment relative to your overall portfoli

Futures may legitimize Bitcoin, but let it infect other markets

Bitcoin is taking its first steps toward becoming a legitimate investment vehicle with the creation of futures contracts in the crypto-currency this month, moves which may also allow it to infect wider financial market stability for the first time.

Siyapatha Finance unveils new branch in Panadura

Leading financial organisation Siyapatha Finance PLC celebrated the opening of a new branch in Panadura recently.

Think big, start small with NDB Wealth Money Plus for kids

With Christmas almost upon us, there is a tendency to spend too much on gifts, which only benefit your children over the very short term.

Commercial Bank conducts 67th seminar for SME entrepreneurs

Commercial Bank of Ceylon recently conducted its 67th entrepreneur development seminar as part of its ongoing initiative to develop the entrepreneurship skills of SMEs in the country.

HNB Grameen Finance offers best leasing options for 660cc vehicles

HNB Grameen Finance Ltd recently announced a very attractive leasing package with superior benefits for both registered and unregistered 660cc vehicles. This promotion will be valid for three months and will offer customers a host of benefits including competitive interest rates, residual value and structured leases, personalised one-day service, doorstep assistance, with vehicles registration and insurance.

Bank of Ceylon launches digital passbook on real time access

Bank of Ceylon, moving towards futuristic e-banking, launched ‘Smart Passbook’ honoured by the presence of Chairman Ronald C. Perera, President’s Counsel General Manager D.M. Gunasekera along with the Corporate and Executive Management at Bank of Ceylon Head Office.

People’s Bank credit cards enhance seasonal joy

As a customer centric bank, People’s Bank is committed to fulfilling the hopes and aspirations of its loyal credit card base. People’s Bank Retail Banking Senior Deputy General Manager K.B. Rajapakse shares exciting news about the bank’s amazing offer for the festive season.

Sri Lankan ICT industry creates history at APICTA Awards 2017

The Asia Pacific ICT Alliance (APICTA) conducted its Annual ICT Awards competition in Dhaka, Bangladesh from December 7th to 10th 2017.

Technocity recognised for outstanding PC and Laptop sales in Sri Lanka

Technocity (Pvt.) Ltd, one of the leading distributors in Sri Lanka for HP products and services was recognised for its outstanding contribution for PC and Laptop sales in Sri Lanka for 2017.

Mobitel X Station facilitates first-ever 3D-printing camp for school students

Sri Lanka’s National Mobile Service Provider, Mobitel, recently partnered with RCS2 Technologies (Pvt.) Ltd and the Ministry of Education to organise a 3D-printing camp for school students at the Mobitel’s Internet of Things (IoT) Concept Store X Station.

US Embassy joins ICTA to organise Knowledge Sharing Session

On December 14th, the United States Embassy in Sri Lanka together with the Information and Communication Technology Agency of Sri Lanka (ICTA) organised a lessons-learnt and knowledge sharing session at the American Center in Colombo on the Global Entrepreneurship Summit (GES) 2017 that was held in India last month. The delegates who represented Sri Lanka shared the knowledge gained from the summit with the startup ecosystem in Sri Lanka.

Organisations at high risk from cyber attacks

Organisations believe that today’s cyber-threat landscape places them at high risk of cyber-attacks, according to the 20th annual EY Global Information Security Survey (GISS), Cybersecurity regained: preparing to face cyber attacks.

Inter-City Rotary holds meeting in honour of visiting President

The Inter-City Rotary meeting in honour of the visiting Rotary International President Ian Riseley was held recently. 

CMA to hold seminar on ‘Understanding New Foreign Exchange’

The Institute of Certified Management Accountants of Sri Lanka (CMA) will conduct a seminar on ‘Understanding New Foreign Exchange Act No. 12 2017’ on Thursday, 21st December from 1.00 p.m. to 5.00 p.m. at the Taj Samudra Hotel.

MTI idea2fund’s Bakamuna volunteers art-therapy for learning difficulties

MTI idea2fund’s Bakamuna collaborated with the Learning Support Unit of Lyceum International School, Nugegoda (LN) for two mixed media art workshops which were held recently at the school premises. Bakamuna is a mixed media lifestyle design brand enabled by MTI Consulting’s idea2fund.

Education and skills training vital for accelerating progress in South Asia: ADB

South Asia’s education and skills training remain binding constraints as the sub region’s countries play catch-up with more successful Asian economies, according to a report released by the Asian Development Bank (ADB).

Sampath Bank’s Rs.6bn convertible debt issue oversubscribed

The Rs. 6 billion BASEL III compliant convertible debenture issue of Sampath Bank PLC was oversubscribed the day it was opened on the Colombo Stock Exchange last Friday, a disclosure to the trading floor said.

Economic growth slows to 3.3% in 3Q

The Sri Lankan economy grew by 3.3 percent during the third quarter of 2017 (3Q17) compared to the corresponding quarter of last year, with continued contraction in the agriculture sector and slower growth in industrial activity contributing to the low growth rate, according to the Census and Statistics Department.

Singer sells Rs.1bn worth Huawei smartphones in one month

Singer Sri Lanka, the exclusive national distributor for Huawei smartphones said it surpassed Rs.1 billion sales of Huawei smartphones for the month of November, 2017. 

SriLankan Chairman says salaries of top mgt cannot be disclosed due to “personal nature”

SriLankan Airlines Chairman Ajith Dias says the remunerations and benefits enjoyed by the airline’s top management cannot be disclosed due to their “personal nature” and assured that the salary bill of the senior management amounts to less than 1 percent of the total wage cost of the company. 

Beetle in a teacup or more than that?

Russia placing temporary import restrictions on tea and other agriculture products from Sri Lanka, according to top government sources, appears to be a ‘tit-for-tat’ reaction to the island nation’s move towards banning chrysotile asbestos, a key export product of the largest country in the world. 

SL secures US $ 270mn ADB loan for roads, water supply

Sri Lankan government has entered into three loan agreements worth of US $ 270 million with the Asian Development Bank (ADB) for the implementation of two projects— Integrated Road Investment Programme and Jaffna Kilinochchi Water Supply Project. 

CBSL wants public to adhere to ‘Clean Note Policy’

The Central Bank of Sri Lanka (CBSL) has drawn attention of the general public for implementation of its Clean Note Policy and regulation on the willfully mutilation, alteration or defacement of Sri Lanka currency notes. 

Asian markets down after Wall Street slips on tax reform fears

AFP: Asian markets mostly fell yesterday following a sell-off on Wall Street as traders fear US lawmakers will fail to pass much-vaunted tax cuts. Tokyo’s Nikkei was among the biggest losers, even with data showing Japanese business confidence at an 11-year high, while the euro struggled to recover from a disappointing European Central Bank meeting.

Dalai Lama turns to iPhone to spread app-iness

AFP: He already has millions of Twitter followers and has spoken of the wonders of new technology. Now the Dalai Lama has launched a new iPhone app so devotees can keep track of his travels and teachings.

President addresses gem industry problems

The representatives of Sri Lanka’s gem industry Wednesday met with President Maithripala Sirisena at the Presidential Secretariat to discuss the problems they face in their work and seek redress. 

Malik discusses ongoing initiatives with WB officials

Minister of Development Strategies and International Trade Malik Samarawickrama met with Esperanza Lasagabaster, a senior official of the World Bank to discuss the ongoing initiatives being undertaken by the Ministry with the support of the World Bank with regard to trade, competitiveness and innovation. 

SL plays down Russian tea ban; says insect detection an isolated incident

The Sri Lanka Tea Board said yesterday that the detection of an insect which led to the temporary ban of Ceylon Tea imports into Russia may have been an isolated incident, and that Plantation Industries Minister Navin Dissanayake would visit Russia to clear the situation.