Beira Group IPO oversubscribed

Brush maker BPPL Holdings, which is also known as Beira Group, yesterday saw its initial public offering (IPO) getting oversubscribed on the opening day.

S&P affirms ‘B+/B’ rating on SL; outlook remains negative

S&P Global Ratings yesterday affirmed its ‘B+’ long-term and ‘B’ short-term sovereign credit ratings on Sri Lanka. The outlook on the long-term rating  remains negative. 

Mixed sentiments over possible property bubble

Construction sector stakeholders recently expressed mixed sentiments over the possibility of a real estate bubble forming in the Colombo district amid concerns being voiced from various quarters, 

Rupee ends steady; bond flow direction eyed

REUTERS: The Sri Lankan rupee ended steady in thin trade yesterday as mild importer dollar demand offset sales of the greenback by exporters while traders awaited cues on foreign selling in bonds, dealers said.

Top Chinese delegation inspects H’tota port, airport

The Board of Investment (BOI) said it recently hosted a delegation consisting of senior officials from Chinese People’s Political Consultative Conference of Shanghai (CPPCC).  

PickMe cab service makes great impact in cost and time management

PickMe, Sri Lanka’s first mobile taxi hailing company says that an efficient cab service can prove to be a great asset in terms of cost as well as time management for users.  

Sino Great Wall Engineering to build Dusit Thani beach property in Balapitiya

The construction contract of Dusit Thani Sri Lanka’s beachfront project in Balapitiya was awarded to China’s Sino Great Wall International Engineering (Pvt.) Ltd, as the officials of the two companies entered into an agreement at Dusit Thani’s Colombo sales office this week. 

NZ’s Tait Radio and Fentons Group enter into partnership

The  business delegation of fourteen New Zealand companies led by the David Bennett, New Zealand’s Minister for Veteran’s Affairs and Food Safety and Associate Minister of Transport and Immigration, which arrived in Sri Lanka this week to further strengthen business links between the two countries have expressed satisfaction with their  visit so far . 

Tea Tang obsessed with perfect tea

Tea Tang, founded on a passion for tea, holds pride of place amongst tea connoisseurs and enthusiastic tea drinkers with its uniquely delicious flavors and exquisite variety. With over three decades of tea expertise in both local and international markets, the brand is able to offer a truly differentiated experience to its consumers. 

From Skylines To Timelines, Earth Hour Shines A Light On Climate Action

Following a landmark year for climate change WWF’s (World Wide Fund for Nature) Earth Hour is calling on people around the world to escalate the charge and be a part of the global momentum.

World of Outdoor wins Excellence Award at SLIA Awards 2017

With a drive towards transforming outdoor living as a lifestyle, World of Outdoor, Sri Lanka’s leading furniture brand renowned for its top-notch designer, elegant and durable furniture, recently clinched 

Kudawellafishing trawler owner overwhelmed by service levels of Amãna Takaful

Amãna Takaful (ATL) paid full reparation for a fishing trawler that collided with a ship off the coast of Kaduwella recently. The cheque was received by the owner W S SPrasannain the presenc

DFCC Bank receives ISO 27001:2013 certification

DFCC Bank was recently awarded the ISO 27001:2013 certification in recognition of implementing the best practices in legal, physical and technical control for information security management

NZ biz delegation upbeat over Lankan investment prospects

A business delegation of 14 New Zealand companies arrived in Sri Lanka this week to further strengthen business links between the two countries. 

Sri Lanka meets most of 2016-end IMF targets: FinMin

Sri Lanka has met all targets set by the International Monetary Fund (IMF) for its US $ 1.5 billion loan, except the net internal reserves (NIR), Finance Minister Ravi Karunanayake said yesterday.  The global lender had a two-week-long review discussion on the island nation’s present economic and financial situation, ever since it disbursed the second tranche in November.

Central Finance completes Isuru Leasing amalgamation

Central Finance Company PLC said its amalgamation with Isuru Leasing Company Limited has been completed and as such the latter ceased to exist as a corporate entity with effect from February 28, 2017.

Greek economy takes new blow, in the red in 2016

AFP: Debt-laden Greece’s economy suffered a new blow, contracting by 1.2 percent at the end of 2016, according to revised figures released yesterday, meaning it remained in recession for the eighth straight year.

Pan Asia Bank meets core capital requirement

The mid-sized lender, Pan Asia Bank PLC, yesterday said it was able to enhance its core capital requirement within the stipulated time frame by the banking industry regulator, the Central Bank of Sri Lanka (CBSL).  

Colombo to see second fastest growth in super rich after Vietnam: study

ECONOMYNEXT: Sri Lanka’s capital Colombo is likely to see a 160 percent growth in the super rich with more than US $ 30 million (Rs.45 billion) in personal wealth to 182 individuals over the next decade, the fastest after Vietnam’s Ho Chi Minh City, an international consultancy has said. 

BOC December net up 34%; core banking remains resilient

Bank of Ceylon (BOC) reported a December quarter net profit of Rs.6.95 billion recording an increase of 33.5 percent from a year ago as a significant tax reversal pushed up the bottom line of the largest state-owned lender, the interim financial accounts of the bank showed. 

CSR compliance among top 100 Indian listed companies improved: KPMG survey

ECONOMIC TIMES: Top 100 listed Indian companies have managed to improve their corporate social responsibility (CSR) compliance, according to a KPMG survey.

Shanghai becomes most attractive property market in Asia

CHINADAILY: Shanghai replaced Tokyo as the most attractive destination for property investment in Asia in the fourth quarter of last year, according to the statistics from JLL, a professional services and investment management firm offering specialized real estate services.

NDB releases annual report for FY16

National Development Bank PLC (NDB) released its annual report for the financial year 2016 (FY16) to the Colombo Stock Exchange (CSE) yesterday. 

DrinkDrive gives Lankans first taste of lifesaving transportation service

An innovative new transportation service is working to save lives and encourage Sri Lankans to take the responsible route home. 

Nations Trust Bank empowers local schools

Nations Trust Bank (NTB) understands that quality education is a key driver of sustainable development in Sri Lanka. In the late 2000s, the bank set up its Schools Empowerment Programme as a corporate social responsibility (CSR) initiative. Through the programme, the bank has sought to identify and establish long-term, supportive relationships with schools in remote areas that require urgent assistance. 

First of its kind Canon Image Square opens in Sri Lanka

Canon Singapore (Pvt.) Ltd together with Sri Lanka’s Metropolitan Communications (Pvt.) Ltd., unveiled two document management solutions products to the local market by introducing its G-series and Maxify lineup offering latest printing technology.

Transcend Drive revolutionizes Sri Lanka’s transportation sector with touch of luxury

Determined to reap the benefits of the booming tourism sector is Transcend Drive, an entity focused on the rendering luxury transportation services.

Softlogic Finance Galle branch celebrates 7th anniversary

Sri Lanka’s most dynamic financial services provider, Softlogic Finance PLC, celebrated its seventh anniversary of operations in Galle with a gala dinner in appreciation of the support extended to the company by its clientele. This was organised in commemoration of seven years of dedicated and highly successful relationship building with its client base from the Galle District. 

Elegant 16 to introduce new-age boutique apartment concept

Modern needs of the urban dweller will be perfectly met when Ekroma Realtors in partnership with Invoke (Pvt.) Ltd introduces its latest range in boutique residential development in Colombo, Sri Lanka with their latest project Elegant 16.

Office 2017 exhibition to kick-start September end

An exclusive exhibition on complete workplace solutions, ‘Office 2017’ is scheduled to be held from the 29th, 30th September and 1st October at Sirimavo Bandaranaike Memorial Exhibition Center, Colombo.