Yasas Abeywickrama elected SEARCC President

President of the Computer Society of Sri Lanka Yasas V. Abeywickrama has been elected as the President of the South East Asia Regional Computer Confederation (SEARCC).

CAMMS wins Gold for project management solution

Global Enterprise Performance Management (EPM) software vendor  CAMMS won a Gold award for its project management solution, CAMMS project, at the 19thannual NBQSA ceremony held in Colombo. 

SLTDA moves to online licensing/registration system

In an effort to pull in the rapidly expanding informal hospitality sector under the regulatory purview, the Sri Lanka Tourism Development Authority (SLTDA) has moved towards fully automating the licensing and registration process.

Vivo set to make waves in Sri Lanka

Vivo, the international mobile phone maker ranked among the world’s top five mobile brands is entering Sri Lanka with its portfolio of next generation devices designed to serve the youth demographic. 

Dialog introduces all new iPhone 8 and 8 Plus to Sri Lanka

The wait is finally over. Dialog, the authorised reseller and partner network for Apple has introduced the all new iPhone 8 and 8 Plus, available at all customer care centres island wide.

Celebrating top business performance

On Monday, November 20, 2017, awards to the toppers of Business Today Top 30 - Best Banks and Companies were presented by Prime Minister Ranil Wickremasinghe. The annual Business Today awards ceremony, organised by the Business Today magazine for the 20th time on the 20th, was held at Shangri La Hotel in Colombo. 

Green initiatives in Blue-Green Budget: Can Sri Lanka become climate resilient?

Sri Lanka’s budget proposals for 2018 explicitly identify that the changing weather patterns and the increased frequency and severity of natural disasters (droughts, floods and landslides) have posed a substantial challenge to the country’s economic performance in 2017. The cost of such disasters is calculated to be one percent of gross domestic product (GDP) in 2017. The 2018 budget proposals take a pioneering nature, as they pay due

Demonetisation one year on

In November 2016, India made an unexpected economic move and demonetised 86 percent of the country’s currency in circulation. One year on, any assessment of India’s demonetisation policy is clouded by the similar impacts of subsequent economic reform, namely the introduction of the Goods and Services Tax (GST) in July 2017 and the Real Estate (Regulation and Development) Act (RERA) in March 2016. All three reforms targeted the informa

Commercial Bank opens 257th branch in Katana

The Commercial Bank of Ceylon has opened its 257th branch in Sri Lanka in Katana, further expanding its presence in the Gampaha District.

LIC Lanka growth trajectory improved as at 3Q17

LIC (Lanka) Ltd, a joint venture life insurance company between Life Insurance Corporation of India, the global insurance giant, and the Bartleet Group of Companies of Sri Lanka, has further improved its growth trajectory as at 3Q17.

Seylan Bank annouces ‘My Kind of Christmas’

With the merry season approaching fast, Seylan Bank offers spectacular deals coupled with bigger benefits on a range of assortments to fulfill the big aspirations of its cardholders.

HNB unveils seasonal offers for cardholders

Infusing this festive season with the spirit of celebration, Sri Lanka’s premier retail bank, HNB, invited all of its customers to be their own Santa with the launch of the bank’s popular seasonal card promotion.

Higher oil bill overshadows strong growth in exports

Despite a double-digit growth in exports revenue, surpassing the US $ 1 billion mark, Sri Lanka’s trade deficit in September widened due to higher fuel and rice imports, the data released by the Central Bank showed.

Sri Lanka to release 50 acres of capital land for investments

REUTERS: Sri Lanka will release nearly 50 acres of state-owned land in the near future for investments in Colombo’s commercial area, a minister said yesterday, as the island nation targets a record US $ 2.5 billion in total foreign direct investments (FDI) next year. Land scarcity and strict land ownership rules for foreign investors have discouraged offshore investors so far.

Number of mobile phones in usage hits 28.1mn

 Increased taxation does not seem to have deterred Sri Lankans from increased usage of mobile phones and Internet during the first eight months of this year, data from the Treasury indicated.

SL should look to engage in high value-added processes, not assembling products: WB

Sri Lanka’s role in global value chains is not to assemble products but to engage in high value-added processes such as marketing, according to the World Bank. World Bank Sri Lanka Senior Country Economist Ralph van Doorn said that in a productivity ‘smile’ or a U-shaped curve, where the horizontal axis is the production process from upstream to downstream and the vertical axis is the amount of value added, assembling a product

Shares recover from 2-mth closing low as large caps gain

REUTERS: Sri Lankan shares ended marginally higher yesterday in dull trade, recovering from a near two-month closing low hit in the previous session, even as investors awaited clarity on new taxes and key legislations.

Rupee ends firmer on inward remittances

REUTERS: The Sri Lankan rupee closed marginally higher yesterday, as dollar inflows from inward remittances outpaced demand from importers for the US currency, dealers said.

Agxa achieves FSC Chain of Custody Certification

Agxa, an AG International company, has received the most credible certification in the forest trade – Forest Stewardship Council (FSC) Chain of Custody Certification through SCS Global Services.

Top Sri Lankan professionals address Auditor General’s Forum in Maldives

The Auditor General’s Forum is the Maldives’ national platform for all professional auditors and accountants to address strategic issues that are shaping the operating environment of organizations today and gain insights to effectively manage the associated risks of business.

Pathfinder and Heritage Foundation discuss US-Sri Lanka relations

The second round of Pathfinder Foundation teleconference with the Washington D.C based Heritage Foundation for the current year was held recently.

CCC ‘Best Corporate Citizen Sustainability Award 2017’ today

The awards ceremony of the ‘Best Corporate Citizen Sustainability Award 2017,’ (BCCS 2017) will take place at the Cinnamon Grand, Colombo this evening amid a gathering of 350 high profile corporate executives.

India’s Mahindra Holidays and Ideal Retreats bring Club Mahindra to Sri Lanka

This week witnessed the introduction to Sri Lanka of the largest vacation ownership company outside the USA, namely Club Mahindra, which was introduced by Mahindra Holidays & Resorts India Limited (MHRIL) and Ideal Retreats (Pvt.) Ltd.

‘BlackBerry KEYone’ Limited Edition launched in Sri Lanka

Optiemus Infracom Limited, an Indian telecom enterprise, announced its entry into the Sri Lankan market with the launch of ‘BlackBerry KEYone’ Limited Edition |Black recently. 

Sampath Bank’s payeasy.lk now bigger and better

While the advent of online shopping and online bill payments has made lives a bit more convenient, people are still faced with having to visit multiple websites and payment portals, one for each specific task.

Biomass Group partners with InfraCo Asia to develop biomass supply chain in Sri Lanka

InfraCo Asia Development Pte. Ltd (InfraCo Asia), has signed a Joint Investment and Development Agreement (JDA) with Biomass Group Ltd (Biomass Group) for investment in Biomass Ventures Pte Ltd (Biomass Ventures) to develop a first-of-its-kind, agri-energy infrastructure project 

Samsung Sri Lanka launches all new My Galaxy app

Samsung Sri Lanka announced the launch of My Galaxy, an application to help Samsung Galaxy owners get the most from their smartphones. 

Women in Sri Lanka’s workforce declined to 36% in 2016 from 41% in 2010: WB report

Removing barriers to women’s paid work will encourage more Sri Lankan women to participate in the workforce, finds a new World Bank report.  Safe childcare and transportation, early orientation to career development to better prepare girls to enter and remain in the workforce and implementing gender equal labour laws and practices are among recommendations of the report.

President opens Golden Crown Hotel in Kandy

The Golden Crown Hotel, a super luxury, deluxe property located on two acres of beautifully landscaped gardens in Kandy and designed by renowned architect Dr. Upendra Rajapakse, was ceremonially declared open by President Maithripala Sirisena on November 25. 

Increase in employment despite supply-side inflation shows economic resilience: Governor

The weakening of theoretical economic relationships during a time of crisis shows the resilience in Sri Lanka’s economy, according to Central Bank Governor Dr. Indrajit Coomaraswamy.