Commercial Bank and Sampath Bank introduce real-time online Customs payments

Commercial Bank of Ceylon PLC and Sampath Bank PLC together announced the introduction of real-time, online payments to Sri Lanka Customs through their respective online banking platforms.  Having received all necessary regulatory approvals, the two leading private banks are the first to go live with this service.

Vallibel Finance records exceptional year as income surpasses Rs.5 billion

Vallibel Finance PLC reported its strongest performance ever on the back of yet another impressive financial year with key indicators for the year 2016/2017 returning exceptional reading, firmly entrenching the company’s standing as the name-bearer of diversified Vallibel Group and a leading light of the finance industry.

Amana Bank doubles capital; rights issue oversubscribed

Amãna Bank was infused with over Rs.4.75 billion to its capital base, when its shareholders expressed confidence in the bank resulting in its recent rights issue being oversubscribed. 

Huawei aims 40 percent SL market share by 2018

Leading smartphone manufacturer Huawei is aiming to capture 40 percent of the Sri Lankan smartphone industry by 2018 after having been able to successfully penetrate into the industry in a short span of time.

Bileeta appoints Aelian Gunawardena to board of directors

Bileeta is pleased to announce the appointment of Aelian Gunawardene to its board of directors with effect from 31 June 2017.  

Application Support: Embracing Taboo

Utter the words, “Application Support” and you will be met with a variety of reactions. 

Female tourists overtake males in 2016: official data

More female tourists arrived in Sri Lanka than males in 2016, possibly for the first time in Sri Lanka’s 50-year organized tourism history despite recent travel warnings by several foreign missions in the country of sexual assault on female tourists. 

H’tota port deal will go ahead despite protests: Eran

A firm talking State Finance Minister yesterday asserted that the controversial Hambantota port deal would go through regardless of the protests against it.

NDB June quarter net profit up 40% on strong loan growth, better margins

National Development Bank PLC (NDB), the development lender turned commercial bank, reported earnings of Rs.4.48 a share or Rs.748. 1 million for the April -June quarter, recording an increase of 39.7 percent from a year ago as the bank managed to maintain the growth in advances and margins despite difficult market conditions, the interim financial accounts showed.

English Nursing Care Services launched in Colombo

English Nursing Care Services, aiming to set the benchmark for home nursing care in Sri Lanka, celebrated their launch in Colombo recently. 

Wilpattu to be closed during low visitor months

The sustainable Development and Wildlife Ministry has decided to close the Wilpattu National Park to visitors during the low season months of May and to strictly enforce zoning restrictions whereby tourists and other visitors will be allowed to only visit designated zones in the park.Wilpattu National Park has been severely affected by the prevailing drought in the northern and central region of Sri Lanka, 

JKH city hotels and real estate arm sees 17% profit decline in 1Q

Asian Hotels and Properties (AHPL), the city hotel and real estate management arm of the John Keells group, posted a net profit of Rs.280.12 million for its first quarter ended June 30, 2017 (1Q18), which was a 17 percent Year-on-Year (YoY) fall, due to escalating costs of services provided at its hotels. Earnings per share for the quarter fell to 63 cents from 77 cents YoY. Revenue remained flat YoY at Rs.1.92 billion, while cost of sales increa

New primary issuance system for Treasury bonds from tomorrow

 The Central Bank of Sri Lanka will introduce a new primary issuance system for Treasury bonds effective July 27. 

CB Governor urges private sector to look at bigger picture

As Sri Lanka stands at crossroads, thirsty for improved economic progress and prosperity, the country’s Central Bank chief yesterday requested the private sector to take the lead in moving forward the island nation’s debt-ridden economy. 

Alpha Industries supports ‘Office 2017’ exhibition

Furniture manufacture Alpha Industries recently joined hands with ‘Office 2017’, an exclusive exhibition showcasing workplace solutions, as Gold sponsors for the mega event. 

Seminar on ‘Economics of garbage disposal’ tomorrow

The Sri Lanka Economic Association in collaboration with the University of Colombo Economics Department is organising a seminar on ‘Economics of garbage disposal’ tomorrow, at the Department of Economics.

Senerath Devendra joins Dreamron as Group Financial Director

Senerath Devendra, a senior professional in the financial and corporate sector in Sri Lanka, will be joining the Dreamron group as its Financial Director in August 2017 to the position of Non-Executive Director of the group.

Cabinet clears port deal with China firm after concerns addressed

REUTERS: Sri Lanka’s cabinet cleared a revised agreement for its Chinese-built southern port of Hambantota yesterday, the government said, after terms of the first pact sparked widespread public anger in the island nation.

MSLGROUP’s Caryll recognized amongst Top 50 professional Women

Caryll Van Dort, Group Director of MSLGROUP Sri Lanka was recently recognized for her contribution to the advertising industry at the Professional Career Women Awards organized by Women in 

The Outlet Store rolls out summer shopping week spree

The Outlet Store, Sri Lanka’s latest addition to the fastest growing retail fashion sectorwhich opened its doors for an exclusive family shopping experience, rolled out a fabulous shopping week spreethis 

DFCC Bank Opens Full Service Branch In Tissamaharama

DFCC Bank opened its newest branch in Tissamaharama recently. Recognizing that the emerging economy of Southern Sri Lanka has a unique and diverse range of financial needs, DFCC Bank

Allianz Lanka Recognized as One of Nation’s Foremost Employer Brands

Allianz Lanka announced that it has been recognized as the “Best Employer Brand” at the Sri Lanka Best Employer Brand Awards 2017 held recently. The event also saw the company’s Chief Executive

Singer’s ‘Suraksha’ helps rebuild lives post-floods

The devastating floods, one of the worst in Sri Lanka’s recent history left thousands homeless and distraught.

Bangladesh’s Gemcon Group retains MTI for M&As

Bangladesh’s leading business conglomerate The Gemcon Group, has retained the services of MTI Consulting for a strategic cross-border M&A assignment, aimed at bringing in domain-specific expertise into the Bangladesh market, along with strategic equity injection.

Cooler credit growth forecast for Sri Lanka’s banks

Following several years of high lending, hiked interest rates and the pursuit of Basel III compliance, credit growth in Sri Lanka could slow this year and into 2018. 

CICIR holds conference on ‘Belt and Road Initiative’

The Belt and Road Initiative (BRI) of China, offers many opportunities for countries like Sri Lanka that requires substantial infrastructure development. 

Amãna Takaful conducts road safety workshop for Matara student traffic controllers

The rapid increase in road accidents often ending in fatalities is a matter that draws much attention from the media and the public alike. According to the statistics of the Sri Lanka Police at least seven to eight deaths are recorded by road accidents daily in the Island alone.

Etihad Airways increases frequency to Egypt and Nigeria

Etihad Airways is adding year-round flights between its Abu Dhabi hub and both Cairo and Lagos later this year to cater to growing demand to and from the United Arab Emirates.

Shares post near 6-week closing low

Sri Lankan shares fell for the sixth straight session yesterday to post a near six-week closing low, but brokers said the slide is slowing down.

ClickNshop.lk goes omnichannel with new customer experience centre

Lfinity Pvt Limited, a subsidiary of Laugfs Holdings, recently unveiled their E-commerce experience centre at Colombo 6.