Softlogic Life records 28% growth with 5.3bn GWP in nine months

Softlogic Life Insurance PLC has more than doubled market growth recording Gross Written Premiums of Rs.5.283 billion an increase of 28.3 percent for the nine months ending September 2017 compared with the previous year.

Pan Asia Bank felicitates long standing staff

Pan Asia Bank, recently held a felicitation ceremony to recognize 52 of its long standing team members who have served the bank for over 10 years.

MMBL-Pathfinder Group launches ‘Pathfinder - Money’ to service tourism industry

MMBL-Pathfinder Group has launched ‘Pathfinder - Money’, a Central Bank approved money changing service to cater to the fast growing tourism industry in Sri Lanka.

Standard Chartered’s outstanding wipe out rewards first winner

Anura H. Siriwardena became the first winner of Standard Chartered’s credit card outstanding wipe out.

Hemas 2Q net profit down 14% over slowing demand, higher costs

  Diversified conglomerate Hemas Holdings PLC continued to face challenges during the second quarter of the 2018 financial year (2Q18) ended September 2017, with a sharp fall in the bottom line compared to the same period last year, attributed to contractions across most of the group’s operating segments stemming from cost increases.

Biz will find ways to pass taxes to customers: official

Sri Lankan businesses will find a way to pass on the taxes imposed on them to the customer despite the specific restriction not to, a senior official in the Finance Ministry said.

Nestle Lanka’s disappointing performance extends to third quarter

Nestle Lanka PLC reported disappointing numbers for the September quarter (3Q17) as the sales slowed and production cost rose sharply. The company is battling a period of high inflation and taxes, which negatively impact consumer demand and push up its direct costs. 

Oil producers to extend cuts to rebalance market: UAE

AFP: Oil producers are expected to unanimously extend a production cut accord later this month but its duration is still under discussion, the UAE energy minister said yesterday.

Stocks extend run of declines, hit near 6-week closing low

REUTERS: Sri Lankan shares fell for a third straight session yesterday to their lowest close in near six weeks, weighed down by declines in telecom and banking stocks after the island nation targeted both cash-rich sectors in its 2018 budget to boost revenue.

Parent divests 7.5% stake in Softlogic Life in Rs.582mn deal

Softlogic Capital PLC yesterday divested a 7.5 percent stake in Softlogic Life Insurance PLC to foreign institutional investors in a Rs.582.3 million deal to allow the insurer to comply with the minimum public holding rules of the Colombo Stock Exchange. 

Rupee steady; market awaits clarity on some budget policies

RETUERS: The Sri Lankan rupee closed little changed yesterday as dollar conversions by exporters were offset by importer demand for the US currency and investors waited for more clarity on some budget policies announced last week, dealers said.

No rate volatility next year as govt. better prepared to tackle debt: CB

Market interest rates are unlikely to experience volatility through public debt-servicing requirements, as the Central Bank the government are better prepared to manage domestic and foreign debt next year with the planned implementation of the Liability Management Act and the buffers being built up by the state from borrowings and income from asset sales.

Hayleys Advantis Continues Investing in Sri Lanka’s Future by Inspiring Future Logisticians

Hayleys Advantis Limited recently completed the second programme in their capacity building initiative under the theme ‘Inspiring Logistics in Sri Lanka’.The programme was launched

Etihad Airways Marks Opening Of Louvre Abu Dhabi With Spectacular A380 Fly-By

Hundreds of visitors from around the world, attending yesterday’s official public opening celebrations of the Louvre Abu Dhabi, were treated to a low-level fly-by of the Jean Nouvel designed

Kemara Life Spa and Wellness Centre launches Juice Feasting

It seems that fruits and vegetables of the same family are fighting for their five seconds of fame. One day it’s kale and the next it’s dragon fruit. But it feels impossible to cram all these super

Everything you’ve always wanted to know about fintech

The financial technology (fintech) industry is thriving globally. It is broadly defined as any technological innovation in financial services often resulting in highly innovative, pioneering services. Fintech as a term is a compound of ‘finance’ and ‘technology’. It is a relatively recent term and is certainly not a buzzword. Fintech is here to stay. 

Shaping Asia’s fintech future

The financial technology (fintech) market in Asia-Pacific is witnessing a rapid boom, as the financial sector shifts to a new age of technology and transparency propelled by innovation and financial inclusion.

Either become a change agent and cruise with your crew or face definite extinction

All leaders, whatever their ranks, occasionally find themselves in situations that aren’t of their own choosing. A few situations may be pleasant, such as an enjoyable chance meeting with a stranger that leads to a new valued relationship. But most of them are unpleasant; for e.g., your boss requests 

Emirates group announces half-year performance for 2017-2018

The Emirates group has announced its half-year results for 2017-18. The group saw steady revenue growth and a rebound on profitability compared to the same period last year, in spite of the continuing downward pressure on margins, a rise in oil prices and other challenges for the airline and  travel industry.  

Casons Rent-a-car accoladed at South Asian Travel Awards

The South Asian Travel Awards, the first-ever regional travel awards endorsed by multinational associations with the aim of encouraging and raising service standards within the regions of the tourism industry, was held on 28 October in Addu City, Maldives.

Aitken Spence Travels to bring 13 charter flights from Poland this season

Strengthening a new front in its efforts to promote tourism to Sri Lanka, Aitken Spence Travels announced that it will be attracting 13 charter flights from Poland this season, with one arriving every 10 days till mid-March 2018.

Etihad to suspend Abu Dhabi-Dallas/Fort Worth route in 2018

Etihad Airways has announced the suspension of its Abu Dhabi – Dallas/Fort Worth (DFW) route effective March 25, 2018, as it will become commercially unsustainable following American Airlines’ unilateral decision to terminate its codeshare agreement with the airline.

Cathay Pacific launches flash sale to China on Singles’ Day

Cathay Pacific Airways announced a flash sale to over 20 of its online destinations in Mainland China at fares starting from Rs.62,100 (return/all inclusive) in Economy Class. 

Classic Travel introduces special offers for student travellers

In a bid to offer complete travel solutions to Sri Lankan outbound tertiary education students and their accompanying parents, Classic Travel affords a variety of services ranging from special rates on air fares, student insurance to complimentary 

Blue Mountain Achilleion continues accoladed at ‘Asia Property Awards’ in Singapore

Blue Mountain Achilleion won the ‘Best Condo Architectural Design’ at a gala event at the ‘Asia Property Awards’ held on 8th November 2017 at Sands Expo and Convention Centre, Marina Bay  Sands, Singapore.

Overseas Realty September profit up on Havelock City apartment sales

Overseas Realty (Ceylon) PLC (OSEA) reported a net profit of Rs.878.8 million or 72 cents a share for the quarter ended in September (3Q17), up 17.5 percent from a year ago as the real estate group’s top and bottom lines received a fillip from higher apartment 

Blue Ocean Group crowned SL’s Best Developer at Asia Property Awards 2017

The Blue Ocean Group was aptly recognized as the country’s finest at the Asia Property Awards 2017, held in Singapore on 8th November.

John Keells getting aggressive on real estate and property development

John Keells Holdings PLC (JKH) appears to be getting aggressive on the real estate and the properties sector in Colombo as the group has made a few larger deals during the recent past and are actively on the lookout for suitable lands with 

Infotel 2017: ‘Towards a Digital Economy’

The Federation of Information Technology Industry Sri Lanka (FITIS) had their flagship Infotel exhibition for the 25thsuccessive yearwith many novel and innovative features at BMICH from Nov 2 - 5.  

OPPO strengthens position in Sri Lankan market with new OPPO F5 launch

OPPO Mobiles launched their brand-new offering OPPO F5 in Sri Lanka recently.  On the sidelines of this event, OPPO announced a new brand slogan - ‘The Selfie expert and leader’ consistent with its accomplishments in the Sri Lankanmarket. With its presence in 28 global market places, now OPPO products and service are appreciated and widely experienced by over 200 million