Shares rise on foreign investor buying; turnover hits 1-mth high

REUTERS: Sri Lankan shares closed slightly stronger yesterday, recovering from a more than one-year closing low hit in the previous session, as foreign investors bought battered stocks while block deals pushed the day’s turnover to a one-month high.

Singer Sri Lanka parent sheds 8% stake

Singer Sri Lanka PLC parent Retail Holdings (Sri Lanka) BV yesterday sold 10.2million shares of Singer Sri Lanka, amounting to 8.2 percent of the issued shares of the company, further trimming its 

CTC assesses biz viability as beedi, illicit fags gain large market share

Beedi and illicit fags have made considerable inroads to Sri Lanka’s tobacco market due to ad-hoc and irrationally excessive taxes slapped on the legally manufactured cigarettes, making it extremely difficult to generate meaningful value, said the country’s only legal manufacturer of cigarettes. 

Shareholder nod for Sanasa Bank’s US $ 22.2mn capital infusion plan

The shareholders of Sanasa Development Bank PLC (SDB) have approved   US $ 22.2 million equity and funding package from FMO Netherlands, SBI-FOM Fund and International Finance Corporation (IFC) during an extra ordinary general meeting held recently.

Siyapatha Finance Avurudu Ganudenu

With the approach of the Sinhala & Tamil New Year, leading financial organization, Siyapatha Finance PLC has announced the launch of its new island wide Fixed Deposit campaign - ‘Avurudu Ganudenu’. 

EIB pledges to ramp up investments in Sri Lanka

The world’s largest multilateral lender, the European Investment Bank (EIB), will be ramping up its funding to Sri Lanka due to the efforts made by the government, the head of the bank’s delegation currently in town said yesterday during a media briefing held at the Finance Ministry.

Is Taktikbook THE new e-ticketing platform?

The past few months has seen a new player enter and revolutionize the e-ticketing game. Taktikbook.lk has taken the online entertainment community by storm, racing to over 130,000 

Maldives Hotel Asia 2016 winners to participate at HOFEX 2017

The Maldives Hotel Asia International Culinary Challenge is the regions premier culinary competition with the participation of over 500 chefs. 

Workshop highlights important role of supervising members in nurturing chartered accountants

The important role played by supervising members in nurturing chartered accountants to become globally sought after professionals was highlighted recently at a Training Partners workshop organized by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka). 

CIMA Students’ Society holds 23rd Annual General Meeting

CIMA Students’ Society (CIMASS) held its 23rd Annual General Meeting to appoint its office bearers for 2017: 

Ceylon Chamber to hold seminar on WTO Trade Facilitation Agreement

The Ceylon Chamber of Commerce will conduct a seminar on the topic ‘WTO Trade Facilitation Agreement – What Business Needs to Know,’ under the Trade Intelligence for Private Sector (TIPS) Initiative of the Chamber, which aims to help the private sector to stay up-to-date on international trade issues and advocate for policy changes.

Blue Mountain Apartments Unveils Sri Lanka`s First Automated Real Estate Chat Agent “Property–bot”

Blue Mountain, Sri Lanka’s leading real estate solutions Group, has launched Sri Lanka’s first real estate automated chat agent ‘Property-bot’ on Facebook to channel the increasing property inquiries

DFCC Bank’s ‘Avurudu Hat Trick’ campaign offers the season’s best rewards

Keeping with the spirit of the Avurudu season, DFCC Bank is pleased to introduce the ‘Avurudu Hat Trick’ campaign which offers families the opportunity to receive three kinds of benefits including gifts, 

Clarks Together With DSI Opens 3rd Store In Colombo - Video

Expert shoemakers, Clarks launched its 3rd store in Colombo today through their sole distributor in Sri Lanka, D. Samson & Sons (Pvt.) Ltd. The store brings to the city Clarks’ beautifully crafted 

OPPO Launchesthe new Selfie Expert F3 Plus with Dual Selfie Camera, Kick starting the ‘Group Selfie’

The ever-evolving global smartphone brand OPPO, kick startedthe ‘Group Selfie’ trend today by launching the new Selfie Expert F3 Plus, priced at Rs69,990.The F3 Plus features the brand’s first 

Etihad Airways Reassures Passengers Of Service And In flight Offering Following Directive On Us-Boun

Abu Dhabi, UNITED ARAB EMIRATES – Etihad Airways is reassuring passengers of its highest level of service to minimise disruption following the introduction of a new US travel directive on 

Project Hero: New Land Rover Discovery Featuring World-First Drone Technology Created To Help Red Cr

Jaguar Land Rover Special Vehicle Operations (SVO) has designed and engineered a bespoke version of the new Land Rover Discovery for use by the Austrian Red Cross. ‘Project Hero’ was 

SL’s trade deficit in 2016 widens 8.4% to US $ 9.09bn

Sri Lanka’s trade deficit in 2016 widened 8.4 percent year-on-year (YoY) to US $ 9.09 billion with export earnings falling 2.2 percent YoY to US $ 10.3 billion, while the expenditure on imports rising 2.5 percent YoY to US $ 19.4 billion, the country’s Central Bank said.

Monetary Board decides to begin disciplinary proceedings over EPF’s transactions in G-secs

The Central Bank yesterday said the Monetary Board has decided to take disciplinary action against any official of the bank for wrongdoing with regards to the Employees’ Provident Fund (EPF) transactions in government securities.

Leading emerging market fund buys stake in HNB Grameen

HNB Grameen Finance, the microfinance arm of Sri Lanka’s second biggest private lender, Hatton National Bank PLC (HNB), has entered into an equity partnership with Developing World Markets (DWM), a leading emerging markets investment firm. 

Central Bank to spoil bankers’ party?

Sri Lanka’s banks may be operating with fancy projected numbers to grow their loan books during 2017 but the country’s Central Bank seems to be standing firm on their way to crush those expectations as cheaper credit always tends to destabilise the import-driven island economy. 

Shares slump to one-year low as banks fall

REUTERS: Sri Lankan shares fell to a more than one-year closing low yesterday in dull trade as investors sold shares of lenders after the Central Bank tightened monetary policy in the previous session, dealers said.

Rupee ends little changed

REUTERS: The Sri Lankan rupee closed largely unchanged yesterday as importer dollar demand almost offset the inward remittances after the country’s Central Bank raised benchmark interest rates by 25 basis points.

GHR commences Marriott luxury residential project

Taking another bold step in its journey of creating elegant living spaces at competitive market rates, Global Housing & Real Estate (Pvt) Ltd., (GHR) recently launched the Marriott Residencies project, yet another luxury residential building in Iswari road located in between Colombo 05 and 06.

NDB relocates Kiribathgoda branch

National Development Bank PLC (NDB) relocated its Kiribathgoda branch to a more spacious and a conveniently accessible location at No: 540, New Hunupitiya Road, Dalugama, Kelaniya, in a bid to provide a better service experience to people in the area. 

Tokyo Cement salutes top performers at annual dealer convention

Top performing dealers for the year 2016 were fêted at the Tokyo Cement Annual Dealer Convention held on March 18th, at the Cinnamon Grand Colombo.  

Union Assurance December net up 34% over higher premiums, investment incomes

Union Assurance PLC increased its December quarter net profit by 34 percent to Rs.1.12 billion largely supported by the growth in gross premium incomes and investments incomes, which rose sharply against the corresponding period last year, the financial results released to the Colombo Stock Exchange showed. 

Glitz and glamour at HNB Assurance Banca Night

HNB Assurance PLC (HNBA), held its annual Banca Night to felicitate the finest achievers of the bancassurance channel over the gone year.  

Tier II cities offer significant real estate opportunities

Since the civil war ended over seven years ago, Sri Lanka has rapidly become a hotspot for investment among emerging markets. 

Ulagalla wins ‘Best Boutique Hotel’ at Connoisseur Hospitality Awards

Ulagalla, a boutique property by renowned hotel chain Uga Escapes, took home the award for ‘Best Boutique Hotel’ at the 2017 Connoisseur Hospitality Awards held in Berlin, Germany recently.