India’s Jaquar group to open exclusive showroom in Sri Lanka

Indian bath fittings and sanitary ware products maker Jaquar group is set to open up 5, 000 to 6, 000 square feet exclusive showroom under its ‘Jaquar World’ concept, Indian media reports said.

CB to take stern action against fraudsters of failed finance companies

Central Bank yesterday said every effort would be made to take legal actions against those who are responsible for the frauds and misuse of depositors’ funds of three failed finance companies.The Monetary Board of the Central Bank last month issued a notice of cancellation of the licence issued to Central Investments and Finance PLC   

Shares extend fall to near 3-month closing low

REUTERS: Sri Lankan shares extended falls into a second session yesterday and closed at their lowest in nearly three months, dragged down by beverage stocks. The Colombo Stock Index ended down 0.24 percent at 6,390.55, its lowest close since Sept. 14. It fell 0.03 percent last week, recording its fourth straight weekly drop, but 

Jetwing Symphony announces IPO to raise up to Rs.904mn

Jetwing Symphony Limited (JSL) announced the opening of its initial public offering (IPO) on December 14, 2017 in a bid to raise between Rs.753 million to Rs.904 million.

Sri Lanka Insurance puts up strong show for September quarter

Sri Lanka Insurance, the leading insurance company in the island, has put up a strong performance for the period ending September  30, 2017. 

CB to take stern action against fraudsters of failed finance companies

Central Bank yesterday said every effort would be made to take legal actions against those who are responsible for the frauds and misuse of depositors’ funds of three failed  finance companies.

SAARC women biz leaders convene in Colombo to initiate social entrepreneurship

Women business leaders from SAARC countries who form the executive committee of SAARC Chamber Women Entrepreneurs Council (SCWEC) will gather in Colombo this weekend to deliberate and map out strategies towards enterprise development  across borders. 

Shares extend fall to near three-month closing low

REUTERS: Sri Lankan shares extended falls into a second session yesterday and closed at their lowest in nearly three months, dragged down by beverage stocks.

Grace Asirwatham to speak on BIMSTEC at LKI

The Lakshman Kadirgamar Institute of International Relations and Strategic Studies (LKI) and the Ministry of Foreign Affairs, Sri Lanka will host a dialogue on ‘BIMSTEC at 20 – Priorities for the Future.’ 

India’s Jaquar group to open exclusive showroom in Sri Lanka

Indian bath fittings and sanitary ware products maker Jaquar group is set to open up 5, 000 to 6, 000 square feet exclusive showroom under its ‘Jaquar World’ concept, Indian media reports said. Along with Sri Lanka, Jaquar is planning to open concept showrooms in Tunisia, South Africa, Iran, Tanzania, Malaysia, Guinea, Nigeria, Uganda and Ivory Coast. 

MCB Bank declares open its upgraded Pettah branch

The fast growing Pakistan-based MCB Bank recently declared open its newly refurbished Pettah branch, as part of its drive 

Emirates’ new Boeing 777 cabins to delight customers

Emirates’ new Boeing 777-300ER aircraft fitted with its game changing fully enclosed private suites in First Class, as well as refreshed Business and Economy Class cabins, has now entered service, to the delight of customers.

Standard Chartered hosts Correspondent Banking Academy

Standard Chartered hosted a Correspondent Banking Academy for around ninety representatives from across its client footprint in Sri Lanka.

LB Finance Rs.3bn debenture issue snapped up on opening day

Leading non-bank lender LB Finance PLC yesterday said it raised Rs.3 billion by way of a debenture issue.

Switzerland’s Edelweiss to operate seasonal flights between Zurich and Colombo late next year

Edelweiss, Switzerland’s leading leisure airline and sister company of Swiss International Air Lines is further expanding its route network to Asia.  From November 3, 2018 the airline will offer seasonal flights between Zurich and Colombo.

LVL Energy Fund announces Rs.1.2bn IPO to fund expansions

Leading energy company and a subsidiary of Lanka Ventures, the LVL Energy Fund, Limited officially announced a Rs.1.2 billion Initial Public Offering (IPO) yesterday to fund its strategic expansion and growth in the renewable energy sector.

Is Yala stressed by over-visitation or overcrowding?

Much has been said, and debated about the Yala National Park issue, ad nauseam. Many experts have cropped up, dime-a-dozen, giving advice of what needs to be done to solve the problems that prevail.  Solutions abound, confusion reigns, with no cohesive action on ground and life goes on, ala’ Sri Lankan style. 

Effective conservation everyone’s responsibility

I’ve been a life-long naturalist.  And for a naturalist Sri Lanka is a wonderful place to come to — for your coasts, hills, plains, mud-flats and seas.  

NTB Abu Dhabi F1 holiday draw winner announced

Every card-member who used their card to pump fuel for LKR2,500 or more between July 1st and October 31st 2017 stood a chance to enter the draw and win an all-expense paid holiday to Abu Dhabi, as the city comes alive to crown the fastest F1 racer of the year.

Sampath Bank empowers local merchants with UnionPay card acceptance

Sampath Bank announced that its local merchant partners will now be able to accept UnionPay credit and debit cards for Point of Sale (POS) payments.

CILT Sri Lanka announces Logistics Excellence Awards and Scholarships 2018

The Chartered Institute of Logistics and Transport Sri Lanka (CILT Sri Lanka) proudly announced the launch of ‘CILT Sri Lanka Logistics Excellence Awards and Scholarships 2018’ at the recently concluded CILT International Conference, held recently at 

Italian Cruise ship Costa neoClassica arrives in Colombo

Italian Ambassador in Sri Lanka Paolo Andrea Bartorelli launched one of the events of the Italian Food Week - 2017 on board the Italian Cruise Ship Costa neoClassica which arrived at Colombo Port last month.

The fate of shipping industry SMEs as liberalisation looms

SMEs plays an important role in the economic development of a country. Their role in terms of production, employment generation, contribution to foreign exchange earnings and facilitating equitable distribution of income is very critical.

Gulf Air Brings Thales FMS to new Airbus fleet

Gulf Air, the national carrier of the Kingdom of Bahrain, has signed an agreement with Thales to equip the airline’s new, incoming 12 Airbus A320Neo and 17 A321Neo aircraft with a cockpit package of Thales avionics solutions including the TopFlight and Flight Management System (FMS).

Walkers Colombo Shipyard gets US$ 4mn ADB funding

Walkers Colombo Shipyard (Pvt.) Ltd, a subsidiary of MTD Walkers PLC secured a US$4 million loan from the Asian Development Bank to be utilized for the  development of the Shipyard of Walkers Colombo Shipyard.

Makeyourtrip.com recognised for leading travel technology in South Asia

Sri Lankan travel Innovator Makeyourtrip.com was recently recognized at the South Asian Travel Awards 2017 for deploying next generation technology for South Asia’s travel industry.

Shares slip; telecom stocks lead

REUTERS:  Shares fell slightly yesterday, hovering near a more than two-month closing low hit early last week, with telecom stocks leading  the decline.

Seminar on new Foreign Exchange Act

A seminar on the new Foreign Exchange Act will be held on December 12th at Ramada Hotel from 2 p.m. to 5 p.m. The Act  came into effect from 20th November 2017, replacing the existing Exchange Control Act and liberalizing the existing Exchange Control regulations. 

Asia Leisure opens fifth luxury-leisure property ‘The Habitat’ in Kosgoda

In line with the company’s vision to offer exclusive leisure properties at key selected destinations, Asia Leisure, a subsidiary of Asia Capital PLC opened its fifth leisure property in the southern coastal belt, ‘The Habitat’ Kosgoda on the November28th,2017.

Rupee ends steady as dollar remittances offset demand

REUTERS: The Sri Lankan rupee closed steady yesterday as dollar inflows through inward remittances and exporter greenback sales offset the importer demand for the U.S. currency, dealers said.