Alliance Finance receives Merit award at Social Dialogue & Workplace Cooperation competition

Alliance Finance Company PLC (AFC), the third oldest finance company in Sri Lanka, recently received a Merit award in the Large-Scale category under the Services sector at the Social Dialogue & Workplace Cooperation competition organised by the Labour Department of Sri Lanka. 

‘Fuze’ by Rum Punch: launch of first online custom swimwear design portal

Rum Punch, the chic Sri Lankan resort wear brand inspired by vibrant tropical hues and island life style unveiled a game-changing online swimwear portal as a solution for design customization. 

Achilleion to provide Sri Lanka’s first 7 Star luxury experience even before moving in

Sri Lanka’s foremost real estate giant, Blue Mountain, is offering an exclusive opportunity to customers who pre-book by 20th April to experience 7-star luxury and magnificence even before moving into their plush Achilleion apartment. 

Insee Cement highlights huge strides in sustainable construction through innovation

An unprecedented collaboration between Sri Lanka’s representation of the Council on Tall Buildings and Urban Habitat (CTBUH), with the CTBUH Chapter in India resulted in a very promising inaugural Regional Tall Building Forum 2017, which concluded at the Sri Lanka Exhibition and Convention Center (SLECC), Colombo recently.

Colombo City Centre mall to introduce world-class shopping and entertainment

Individuals residing in Colombo look forward to the evenings and weekends as an opportunity to spend quality time with family, hang out with friends, and fully recharge before heading into work or college the next day. 

Europe, US still more attractive than Asia for commercial property investors: JLL

CNBC: Asian property plays are exciting, but it’s commercial real estate in Europe and North America that are the most attractive to investors, a study by consultancy JLL found.

Inflation hits multi-year high as March prices up 7.3%

Sri Lanka’s headline inflation hit a multi-year high of 7.3 percent in March, accelerating from 6.8 percent in February mainly due to the base effects through the recent drought and the demand push factors.

PM’s biography to be launched tomorrow

Business personality, Dinesh Weerakkody  will release his sixth book titled ‘Ranil Wickremesinghe: A Political Biography’ on April 04 at the BMICH at 5.30 pm , in the presence of the President Maithripala Sirisena, Prime Minister Ranil Wickremesinghe and Speaker of the House Karu Jayasuriya. 

Trump’s net worth dwindled to US $3.5 bn, Forbes says

REUTERS: While Donald Trump’s political fortunes were rising, his net worth was dropping to a mere US $3.5 billion, or roughly a third of what he claimed during his successful campaign for the U.S. presidency, according to the latest Forbes list of the world’s billionaires.

Top statistician says flawed surveys present ample space for distortions in national accounts

Ample space for distortions in national account estimates may exist due to shortcomings in conducting surveys, which requires constant vigilance, a leading statistician in South Asia said recently.

Cargills Bank turns a profit in FY16 amid favourable cost of funds, higher loans

Cargills Bank Limited turned a net profit of Rs.26 million for the year ended December 31, 2016 (FY16), 

Japanese PE firm buys 11% stake in Sunshine Holdings for Rs.742mn

The shareholding structure of Sunshine Holdings PLC (Sunshine), a diversified holding company, has been reshaping during the last four months or so in particular as the ownership is seen getting concentrated among a few strategic partners. 

Govt. tax policy blocking inclusive growth bashed

An economist has criticized the government’s tax policy on vehicle imports and the recent credit restrictions imposed on vehicle financing, 

Softlogic to help SL beat the heat with Vego air coolers

As temperatures begin their ascendance towards the seasonal peak in Sri Lanka, Softlogic Holdings is offering a way to beat the heat without the high investment and operating costs associated with traditional air-conditioning.

BPPL Holdings revenue up 19% to Rs.2.2bn

Brush manufacturer and exporter, BPPL Holdings, announced its interim unaudited financial results for the 11-month period April 2016 to February 2017. 

SMB Leasing expands geographic footprint with new Negombo branch

SMB Leasing marked a new chapter in its remarkable turnaround story inaugurating another branch in Negombo. 

Intensive week for German-Sri Lankan relations

Following the official visit of President Maithripala Sirisena to Germany in February 2016 and visits of numerous business and parliamentary delegations from Germany to Sri Lanka last year, the upcoming events of this week will again underline the growing intensity of German-Sri Lankan relations. 

Liquor licensees-Inland Revenue officials iron out VAT issues in Matara

The members of the Liquor Licensees’ Association in the south and the officials of the Inland Revenue Department ironed out the problems that have arisen with the introduction of the new value-added tax (VAT) schemes at a workshop held in Matara yesterday.

Port City to attract US$ 13 bn investment from 2018: company

A Chinese-backed real estate project near Sri Lanka’s main port is expected to attract US$13 billion worth of investment from next year, the developer said yesterday.

Pathfinder Foundation convenes conference on Bay of Bengal

The Centre for Indo-Lanka Initiatives of the Pathfinder Foundation, in partnership with Carnegie India, convened two-day track 1.5 conferences called ‘Trincomalee Consultations’ recently. 

China’s big banks say bad loan fears eased in 2016

AFP: Bad-loan concerns at China’s big banks eased in 2016 despite flat earnings growth, the companies said this week, but analysts warn asset-quality problems in the world’s second-largest economy could worsen next year.

Trump to name and shame trade ‘cheats’

AFP: President Donald Trump ordered staff yesterday to pinpoint countries and goods responsible for America’s nearly US$50 billion trade deficit,

Asian markets lower as quarter draws to close

AFP: Asian markets sank yesterday as the quarter drew to a close, with dealers ignoring better-than-expected US economic growth data, while South Africa’s rand plunged after President Jacob Zuma sacked his respected finance minister.

EIB’s permanent office marks new era of stronger activity across India and South Asia

The European Investment Bank’s first permanent office in India was formally opened earlier this week by Arun Jaitley, Finance Minister of the Republic of India, Werner Hoyer, President of the European Investment Bank, Andrew McDowell, European Investment Bank Vice President responsible for South Asia and Tomasz Kozlowski, Ambassador of the European Union to India.

Shares hit near 3-wk closing high; post 1st weekly gain in 6

REUTERS: Sri Lankan shares closed at their highest in nearly three weeks yesterday, rising for a fourth straight session on purchases by foreign investors and on quarter-end window dressing, stockbrokers said.

Sri Lankan delegation’s Reunion Island visit to begin today

On invitation from the French Agency for Development (AFD), an official delegation headed by M.I.M. Rafeek, Secretary to the Ministry of National Policies and Economic Affairs will visit the Reunion Island from 1st to 7th of April. 

Rupee rises on inward remittances, exporter dollar sales

REUTERS: The Sri Lankan rupee ended stronger yesterday, helped by inward remittances and selling of the greenback by exporters ahead of the festival season, but the gains were capped by dollar demand from a foreign bank in late trade, dealers said.

Kelani Cables hosts Kelani Challenge Trophy 2017 for second consecutive year

Kelani Cables PLC led the Kelani Challenge Trophy 2017 annual cricket tourney at the Bloomfield Cricket Club grounds in Colombo.

Jade Restaurants introduce unbeatable seasonal offers

The best of the delicious Chinese cuisine could now be savoured at Jade Restaurants in Nugegoda and Maharagama where dine in customers can enjoy a 30 percent discount on Commercial Bank credit cards until April 10 on all food and beverages in the menu.

CIMA prepares you for the boardroom, says Unilever National Finance Director

Unilever Sri Lanka National Finance Director Priyadharshana Ekanayake (ACMA, CGMA) has worked for Unilever in Sri Lanka, Singapore and India.  During his 25 years at Unilever, his professional experience spans all finance functions - in regional, global and local roles.