Per capita income falls marginally on dollar effect

Sri Lanka experienced a marginal year-on-year decline in its per capita gross domestic product (GDP) in US dollar terms at current market prices in 2016 in a year highlighted by continuous natural disasters and a weakening rupee.

FinMin says double digit foreign reserves by end of this year

Sri Lanka’s foreign reserves are expected to reach double digits by the end of this year through borrowings, investment inflows and fund repatriations, Finance Minister Ravi Karunanayake said yesterday.

Better sleep by design: World renowned Englander mattresses now in Sri Lanka.

‘Englander’, the world renowned mattress brand based in Chicago USA, made their debut at their new flagship store at the Arcade Independence Square in Colombo on the 26th April, 2017. As one of the 

Chicago-based ‘Englander’ mattress brand debuts in SL

Englander, the world-renowned mattress brand based in Chicago, USA, made its debut at the new flagship store at Arcade Independence Square in Colombo on April 26, 2017. 

Forestry emerges as a preferred choice of long-term investment

Many investors are actively reducing their exposure to equities and are seeking alternative assets to boost returns without dramatically altering their overall risk profile. Hence, commercial forestry is rapidly becoming a preferred choice of sustainable investment.

SLRA conducts retail development programme

The Sri Lanka Retailers’ Association (SLRA) will launch the first ever retail development programme in partnership with Sensei Lanka. 

CMA Students’ Conference to be held on May 4

The CMA Students’ Guild will host its Annual Conference on the theme ‘Transition from an Accountant to a Finance Business Partner’ on May 04th  at Sasakawa Auditorium Colombo 03.

Sri Lanka – Russia Business Council discusses progress of recent business visit

Sri Lanka – Russia Business Council of The Ceylon Chamber of Commerce organized a get-together recently to discuss the progress made during the recent visit, the Council members made to Russia, as a part of the Presidential Delegation to Russia.

September to herald ‘Facets’ int’l gem and jewellery exhibition

Organized by the Sri Lanka Gem and Jewellery Association (SLGJA), this year’s edition of the country’s leading international gem and jewellery show ‘Facets’ is set to take the global community by storm. 

Belgium’s Libert Paints appoints Modern Trading as exclusive agents in Sri Lanka

Libert Paints, Belgium, a leading manufacturer of professional paints and coatings, established since 1894, offering high-quality solutions from a wide range of protective and industrial coatings, hygiene solutions and floor and building paints, joined hands with Modern Trading (Pvt.) Ltd, to introduce its quality paint products in Sri Lanka and the Maldives.

UTE provides clean air solutions for food industry

United Tractor & Equipment (Pvt.) Limited (UTE), recognised as a provider of precision-engineered solutions, hosted a customer awareness session titled ‘Oil-free for a cleaner world’ recently to create awareness of the benefits of using oil-free, environmentally safe, industrial air through the efficient FS Curtis oil-free air compressor range.

Browns Agriculture honoured with Massey Ferguson Long-standing Relationship Award

The Browns Agriculture Division won a prestigious award from its principal partner Massey Ferguson, for being the oldest distributor – 65 years in Southeast Asia.

DSI Announces the Launch of the DSI Supersport Schools Volleyball Championship

DSI recently announced the launch of the DSI Supersport Schools Volleyball Championship 2017, which will begin on the 20th of May. 

Vote on SL’s GSP Plus application today

The government appears to be making a last-ditch effort to appease the European Union (EU) Parliament with regard to the essential human rights reforms, as a crucial vote on Sri Lanka’s readmission to the Generalized System of Preferences (GSP) Plus preferential trade status takes place today.

Ceylinco Insurance announces another fat dividend

Ceylinco Insurance PLC has announced a dividend of Rs.27.50 per share to its shareholders for the year 2016, which constitutes a 275 percent dividend of the original share price. 

Tea exporters highlight industry woes

While renewing its call for the liberalization of the country’s tea industry, the Tea Exporters’ Association (TEA) yesterday highlighted a number of issues plaguing the industry, urging the authorities for swift assistance to arrest the downfall of the 150-year-old industry. 

Seylan Bank net up 22% to Rs.818mn in 1Q

Seylan Bank PLC recorded a net profit of Rs.818.5 million or Rs.2.37 a share for the quarter ended March 31, 2017 (1Q17), up 22 percent from a year ago, the interim financial accounts released to the Colombo Stock Exchange showed yesterday. 

SL to double issuance of development bonds

The cabinet this week approved the plans to double the issuance of Sri Lanka Development Bonds to US $ 3 billion.

Rupee edges up on foreign bank dollar sales

REUTERS: The Sri Lankan rupee strengthened yesterday as a foreign bank sold the dollar, while investors awaited the International Monetary Fund’s approval for the disbursement of a loan as well as a proposed sovereign bond sale, dealers said.

BoardPAC enters Nepal with adoption by country’s largest Telco Ncell

The award-winning Sri Lanka-developed corporate governance solution BoardPAC has entered Nepal with the adoption of the platform by Ncell Pvt. Ltd., the first private mobile operator in the Central  Himalayan nation.

‘Seamless Middle East’ to showcase fintech solutions

Epic Technology Group, synonymous for fintech solutions, will be on show at the ‘Seamless Middle East’ to be held in Dubai at the World Trade Centre on May 1stand 2nd. 

Sri Lanka: National interests in globalised world

The first 100 days of the US President Donald Trump’s administration revealed the complexity of a head of state’s task. 

Overseas Realty March profits up on forex and fair value gains

Overseas Realty (Ceylon) PLC (OSEA), the local unit of the Singapore-based real-estate group, Shing Kwan Group, saw its March quarter (1Q17) net profit rising by 21 percent to Rs.881 million or 72 cents a share from a year ago, supported by a hefty foreign exchange and fair value gains made on the group’s investment property, the interim results showed. 

Central Bank releases annual report for 2016

The Central Bank annual report for the year 2016 was handed over to Finance Minister Ravi Karunanayake by Central Bank Governor Indrajit Coomaraswamy, yesterday.

DFCC takes banking transactions to customers’ doorstep with Mobile Teller

Sustaining its momentum to offer technology-backed convenience to customers, DFCC Bank re-launches ‘Mobile Teller’, a digital banking service owned and operated by DFCC Bank and developed by SYNAPSYS. 

Is now the time for a 1930s-style global trade war?

US President Trump’s ‘America First’ policy is not unique; protectionism has crept up since the 2008-09 global financial crisis as the G20 countries have stealthily ramped up measures against each other and governments have exhorted citizens to buy local products.

SLTPB participates in Arabian Travel Market

The Sri Lanka Tourism Promotion Bureau (SLTPB) took part in the Arabian Travel Market (ATM) for the 14th consecutive year recently, in an attempt to attract more tourists from the Middle East region to Sri Lanka, an SLTPB press release stated.

Sri Lankan team selected to compete at Microsoft Imagine Cup World Finals

Microsoft announced that Team Titans from Sri Lanka had been selected as one of seven teams to represent South Asia at the Microsoft Imagine Cup World Finals in July this year. 

Ceylinco Life retirement planning month begins on May 2

The best time to start investing in retirement is at the commencement of employment, a new campaign to be launched by Ceylinco Life in May asserts.

Hitachi and SAP grow relationship with new offerings and deeper alignment

Hitachi Data Systems (HDS), a wholly owned subsidiary of Hitachi, Ltd., and SAP AG announced an expansion of its worldwide alliance by extending a global original equipment manufacturer (global OEM) agreement that includes SAP HANA solutions delivered by HDS.