Veteran stories from 150 years of Pure Ceylon Tea

Having travelled the plantations extensively, during the 1950s as a schoolboy, with some of his kinsmen, who were already in the tea industry, Jayantissa Ratwatte was a frequent visitor to the island’s hill country tea plantations and so the transition from books to tea was quite an organic one.

A mess as old as time: Economic cost of natural disasters in Sri Lanka

The recent floods in Sri Lanka, triggered by the monsoon rains, affected over 700,000 people in 15 districts, killed over 200, fully destroyed over 2,000 houses and partially damaged around 12,529 houses. In addition to the recurring downpours, Sri Lanka has also experienced similar environmental crises due to droughts and landslides in recent years. 

Amazon everywhere: E-commerce titan is a topic companies can’t avoid

What looms over businesses as far flung as car repair, lab equipment and swimming pool gear? In a word, Amazon.

Complacency, but not where you expect it

A recurring theme among some market observers is how complacent the equity investors are today. A statistic often used as evidence is the US S&P 500 market-implied volatility or VIX, index. When this is low,

Euromoney crowns NDBIB as Sri Lanka’s Best Investment Bank again

Repeating its feat for the sixth consecutive year, NDB Investment Bank (NDBIB) was once again crowned as ‘Sri Lanka’s Best Investment Bank 2017’ by the prestigious Euromoney Magazine.

Insurance industry records 17% GWP growth in 1Q

The insurance industry recorded a growth of 17.10 percent, in terms of gross written premium (GWP), during the first quarter of year 2017 when compared to the same period in the year 2016. 

Standard Chartered introduces mobile wallet payments

Standard Chartered, in its most recent innovative affiliation, introduces Straight2Bank Wallet in partnership with Dialog Axiata’s eZ Cash platform to expand the cashless payment services.

NTB Amex promo to offer all-expenses paid holiday

Nations Trust Bank (NTB) American Express (Amex) cardmembers now stand a chance to win an all-expenses paid holiday of a lifetime to explore the world and experience the best it has to offer by simply using their cards for all purchases from July 1 to October 31, 2017 to meet the minimum spend thresholds. 

ComBank cardholders to enjoy massive discounts

Commercial Bank’s credit and debit card holders can stay at fancy hotels, purchase lifestyle electronic products, watch movies and enjoy online deals all at discounted rates offered throughout August and also enjoy zero percent interest offers from over 150 merchants islandwide throughout the year. 

Seylan Bank June net up 25% but asset quality weakens

Seylan Bank PLC reported earnings of Rs.3.74 a share or Rs.1.32 billion for the June quarter (2Q17), recording an increase of 25 percent year-on-year (YoY) amid weaker growth in loans, compressed margins and higher loan loss provisions, the interim results of the bank showed. 

Commercial Bank share sale boosts DFCC June quarter

DFCC Bank PLC reported earnings of Rs.5.84 a share or Rs.1.54 billion for its April – June quarter (2Q17) compared to the Rs.747 million profit it recorded during the same period last year as the sale of shares it held in Commercial Bank helped the banking group to prop up its performance.

People’s Leasing & Finance posts Rs.796mn profit for 1Q

The country’s largest finance company, People’s Leasing & Finance PLC (PLC) posted a Rs.796 million net profit for the 1st quarter of 2018, down 25.9 percent compared to the same quarter last year, as the firm continued to feel the sustained monetary policy tightening by the Central Bank over the past 18 months.

Sri Lanka Insurance recognises top sales achievers

It was a star-studded night of glitz and glamour when the best sales personnel of Sri Lanka Insurance (SLI) were recognised and rewarded for their outstanding performance during the year 2016.  The Star Awards 2017 was held at the BMICH recently amidst much splendour to honour the company’s top achieving sales force. 

McLarens among top 25 GPTW list for second consecutive year

The Great Place to Work awards ceremony was held on recently at the Cinnamon Grand Hotel where McLarens Group received the esteemed award for being one of the 25 ‘Great Places to Work’ in Sri Lanka for the second consecutive year.

Women in Management, IFC celebrates remarkable women

For the seventh consecutive year, the ‘Top 50’ Professional and Career Women Awards 2017 were presented by WIM in partnership with IFC, and supported by Platinum Sponsor Coral Properties, Gold Sponsor Singer, Silver Sponsors Lanka IOC and Sino Asia Holidays, Bronze Sponsors Coca Cola 5by20, McLarens Group, Takima Tech, and Hospitality Partner Taj Samudra Colombo. 

Virtusa recognized for Best Use of CSR practices at Sri Lanka CSR Leadership Awards 2017

Virtusa Corporation (NASDAQ GS: VRTU), a global business consulting and IT outsourcing company that accelerates business outcomes for its clients, received the award for Best Use of CSR Practices 

Australian purchases in Colombo bourse hit all-time high

Foreign inflows to the Colombo bourse originating from Australia indicate a figure of Rs.626.4 million year-to-date, which is an all-time record for foreign purchases from Australia in a calendar year, the Colombo Stock Exchange yesterday (CSE) said. 

Private credit eases in May but state borrowings surge

Credit extended to the private sector by the banks continued to decelerate as the latest data for May showed that private sector credit growth for the first time in many months had settled below 20 percent, but still above what the policy makers would have liked it to be. 

Ceylon Brewery’s claim for exclusive use of ‘Lion/Lion head’ dismissed

The Commercial High Court delivered a judgment in one of the most fiercely contested legal battles for a ‘Lion’ trademark on the 7th July 2017, where the plaintiff, Ceylon Brewery Limited’s claim for the exclusive use of ‘Lion/Lion head’ and the word ‘Lion’ within the territory of Sri Lanka was dismissed.

Dankotuwa operations affected by work stoppage

Porcelain tableware maker Dankotuwa Porcelain PLC yesterday said the operations of its factory in Dakotuwa had come to a standstill due to a work stoppage by the workers.

CB seen holding rates to support economy

REUTERS: Sri Lanka’s Central Bank is expected to keep its key interest rates steady tomorrow, as it walks a tight rope between supporting an economy hampered by the worst flooding in over a decade and keeping inflation in check amid still-strong credit growth.

Trade gap widens in May despite export growth

Sri Lanka’s trade deficit in May widened to US$ 885.6 million 2017 from US$ 809.7 million a year ago as for the third consecutive month, exports growth was overshadowed by a higher import bill.

Sudath Perera Associates celebrates 15 years of legal practice

Sudath Perera Associates, one of Sri Lanka's leading law firms, celebrated its 15th year anniversary last month. To commemorate the event, religious observances were held at its office in Nawala, followed

Hirdaramani Woven Puthukudiyruppu Factory Achieves LEED Platinum Status

Hirdaramani Woven Puthukudiyruppu was awarded the LEED Platinum certification established by the US Green Building Council and verified by the Green Building Certification Institute (GBCI).

Dehiwela - Mount Lavinia property owners can make municipal payments through Mobitel

Mobitel proudly launched Municipal Assessment Payment System (MAPS), an eTax payment system on 28th July 2017 at the Dehiwala - Mount Lavinia Municipal Council premises. The occasion was 

The British Council and Apex Business Academy expand into new premises in Matara

The British Council in Sri Lanka expanded its Partner Teaching Centre in Matara recently. The institution is partnering with the Apex Business Academy in order to offer a range of teaching services 

Sanasa Insurance, the happiest business with its unique ‘Sanasa Movement’

Created by the society, with the society, and for the society, ‘Sanasa movement’ is truly the largest and one-of-its-kind in the country with an ever-increasing membership. The Sanasa movement 

Mastercard Invites Cardholders to Explore the World with Emirates

Mastercard announced its partnership with Emirates to offer additional savings on economy and business class tickets. Cardholders can avail a discount of up to 8% on return economy fares and up 

Abans Finance puts up strong performance in March quarter

Abans Finance, a member of the Abans Group, has registered a pre-tax profit of Rs.197.4 million for the period ended 31st March 2017, compared to Rs.130.5 million recorded in the corresponding year of 2016, achieving a YoY growth of 51.29 percent. 

DFCC Bank in strong half year performance

The DFCC Group reported an excellent half year performance for 2017, with DFCC Bank leading the charge on the back of its strategic growth drive as a rapidly emerging full service commercial bank.