Sampath Bank June profit soars 39% over exchange gains, dividend incomes

Sampath Bank PLC reported earnings of Rs.18.72 a share or Rs.3.49 billion profit for the quarter ended June 30, 2017 (2Q17), an increase of 39.1 percent from a year ago, mainly due to a jump in exchange and dividend incomes.

July tourist arrivals down 1.8%

Tourist arrivals to Sri Lanka this July fell 1.8 percent to 205,482 tourists compared to July 2016, as the Chinese tourist boom, which pushed up the market growth during the last off-season, petered out, bringing to question whether even the revised 2.2 million tourist arrival projection for this year will  be met.

Expolanka June profit down over yield pressure on key logistics business

Logistics and warehouse supplier, Expolanka Holdings PLC, saw its profits for the June quarter being adversely affected by the pressure on yields in certain key trade lanes and the losses made by the group’s other investments. 

CB says financial sector regulators warming up for close cooperation

The financial sector regulatory bodies have started closer cooperation among themselves in recent months by establishing two regulatory processes to reduce the gaps in regulatory oversight, the Central Bank said recently.

Poultry operator seeks govt.’s nod to direct import maize

Ceylon Grain Elevators PLC, a poultry group that operates a feed mill, has appealed to the government to allow it to directly import maize as the local prices remain elevated and the import restrictions have begun to hurt operations. 

Charming the tourists!

A group of foreign tourists and some local tourists watch a session of snake charming at the Victoria Park, Nuwara Eliya. 

Advantis Bunkering Further Strengthens Commitment to Safety with OHSAS Certification

Advantis Bunkering was recently awarded the International Occupational Health and Safety Assessment Series certification or OHSAS 18001:2007 by Société Générale de Surveillance (SGS

Advantis Bunkering receives OHSAS 18001:2007 certification

Advantis Bunkering was recently awarded the International Occupational Health and Safety Assessment Series certification or OHSAS 18001:2007 by Société Générale de Surveillance (SGS), the world’s leading inspection, verification, testing and certification company.

Bodum Engineering Solutions automates Sri Lanka’s livestock industry

Lanka Livestock’17 was recently held at the SLECC where Bodum Engineering Solutions Ltd, a leading knowledge-based company specializing in supplies, installation and equipment maintenance for the poultry, dairy, swine and feed industries, was the proud gold sponsor.

Richy Tea celebrates 25th anniversary

Being Sri Lanka’s largest bulk tea distributor holding 53 percent of the market share, Richy Tea celebrated its 25th year anniversary recently. 

Browns Agriculture plays key role in govt. drought assistance initiative

The Browns Agriculture Division was selected by the Government of Sri Lanka as the preferred partner in its initiative to distribute water to the drought affected communities in the country.

How Internet businesses are shaping Lankan economy

Need to go somewhere? Book a PickMe. Hungry? Why not order from quickee.lk? Need a job? everjobs.lk is your friend. And the list goes on. Sri Lanka is increasingly shaped by online start-ups, who are changing the business landscape by disrupting the traditional ways of doing everyday tasks and getting people used to smoother, easier and cheaper methods for basic activities.

Doubling down on global value chain-linked FDI

Asia and the Pacific has long been the world’s top destination for foreign direct investment (FDI), propelled by increasing trade and investment openness in the region. From 2001 to 2016, Asia’s share of global foreign direct investment (FDI) increased from 12 percent to 28 percent.

Maskeliya Plantations celebrates tea industry, estate privatization anniversaries

Strathspey Estate, managed by Maskeliya Plantations PLC, which is owned by Richard Pieris Group of Companies, recently celebrated the 150th anniversary of the tea industry and 25th anniversary after the privatization of estates from Sri Lanka State Plantations Corporation and Janatha Estates Development Board, at the Cultural Hall.

DFCC Bank selects Webxpay as payment partner

Working to enable a new paradigm in the e-Commerce led growth of Sri Lanka, DFCC Bank announced a vibrant new partnership with Webxpay to connect the bank’s customers to e-Commerce merchants. 

St. Anthony’s launches Sri Lanka’s first one-stop general hardware supermarket

St. Anthony’s Consolidated (PVT) Ltd. launched ‘Homemart’, a one-stop general hardware supermarket and homewares retailer, hosting the largest selection of the most trusted brands in the nation.

Colombo International Shopping Festival to kick-start in October

The Sri Lanka Retailers’ Association (SLRA) under the patronage of the Ministry of Tourism Development and Christian Religious Affairs and in collaboration with the Sri Lanka Tourism Promotion Bureau (SLTPB) is organizing the ‘Colombo International Shopping Festival’ (CISF) during the entire month of October.

Port City and MTI tie-up to groom Lankan entrepreneurs

CHEC Port City Colombo has signed up with MTI’s idea2fund, thus demonstrating their commitment to Sri Lanka by helping to identify and groom emerging Sri Lankan entrepreneurs.

More money alone won’t meet SDG 3

Over 20 years ago, during my second year at medical school, I spent my semester break with an Indian non-governmental organisation providing health services to the urban poor in Kolkata. I soon realized that being a doctor or a nurse accomplishes little if there isn’t enough money to pay for diagnostic tests or medicine.

China approves 10 international agricultural parks

REUTERS: China has approved plans to establish international agricultural demonstration zones in 10 countries, the agriculture ministry said on Monday, as Beijing looks to extend its influence in the global farm sector.

Colombo Dockyard delivers ‘Elutharakai’ passenger ferry to Jaffna

Colombo Dockyard successfully delivered the 40-passenger ferry built for the Jaffna District Secretariat recently at the Colombo Dockyard premises.  

NTB upgrades Pettah branch

Nations Trust Bank’s branch at Pettah (Bankshall Street) has been refurbished and is now equipped with a more spacious interior with even more facilities such as a 24/7 cash deposit machine (CDM), business banking, leasing and hire purchase, investment products, trade financing, factoring, remittance services and all other banking services. 

Save Your Monkey announces official launch with ‘Amaya’

Saveyourmonkey.com, Sri Lanka’s pioneering Insurtech startup which began operations earlier this year, announced their official launch following the trilingual launch of Sri Lanka’s first digital insurance agent, ‘Amaya’. 

Emirates’ A380 flight to Colombo, an important signal for tourism industry

Emirates’ much-anticipated one-off A380 flight to Colombo on August 14 reflects the airline’s commitment to the destination and its tourism industry and is an opportunity for Bandaranaike International Airport (BIA) to show the world that it is ‘A380-ready’ for when demand for travel to Sri Lanka necessitates scheduled flights with this iconic twin-deck super-luxury airliner, says Emirates Area Manager Sri Lanka and the Ma

Changes in Pan Asia Bank’s director board

Pan Asia Bank recently announced of two changes to its Board of Directors. 

Sunshine’s Govindasamy calls for ramping up skills of local workers

“Our labour force should step up and needs exposure to a higher level of skills if Sri Lanka is serious about seizing maximum advantage of the ‘One Belt-One Road’ (OBOR) initiative” expressed Sunshine Holding’s Group Managing Director, Vish Govindasamy, speaking at the ‘Belt and Road initiative – transformative opportunity for Sri Lanka’ panel at the recently concluded Ceylon Chamber of Commerce Sri

Plastindia Foundation invites Sri Lanka for next year’s exhibition

Plastindia Foundation of India invited Sri Lanka’s plastic industry players to take part in the largest plastic exhibition, to meet new plastic equipment suppliers and manufacturers.

SriLankan achieves superior level of on-time performance in 2017

SriLankan Airlines has recorded a consistently superior on-time performance during the first six months of this year, in comparison with its peers. The latest statistics by the global flight data tracker Flightstats.com ranks Sri Lanka’s national carrier as the fifth most punctual among 40 of the world’s leading airlines.

EFC announces first ever ILO accredited Executive Diploma in Employment Relations

Collaborating with an employers’ organization for the first time, the International Training Centre of the International Labour Organization, (ITC - ILO) recently entered into an MoU with the Employers’ Federation of Ceylon (EFC) in launching an Executive Diploma in Employment Relations in October this year. 

Royal Institute of British Architects opens Sri Lanka branch

Royal Institute of British Architects (RIBA), the parental body of the Sri Lanka Institute of Architects, established a branch in Sri Lanka last week named ‘RIBA Members : Sri Lanka’, the second RIBA membership group to be formed in the Asia Pacific region.