UAE-based Oxford Elevators launches operations in Sri Lanka

With the significant growth in real estate and commercial infrastructure and the increasing need for alternative cost-saving economical maintenance options, Oxford Elevators Company (OEC) recently launched its operations in Sri Lanka.

Radical take on luxury real estate in Sri Lanka

The sounds of the hustle and bustle of the city die away as you watch the Sun set in an array of orange, pink, and red over the serene emerald-green Beira Lake, which is juxtaposed against the brilliant backdrop of the downtown Colombo city skyline. Then the exquisite distant Indian Ocean coastline appears in your line of sight, basking in the setting Sun’s radiant glow.

Capture game-changing opportunities and reinvent your business model

During the past few weeks, you have been reviewing about business renewal. You have scanned the portfolio for possibilities. Then you considered the size of the potential value. And, finally, you have done the shortlist. 

Guardian Acuity hosts discussion forum on business ventures

Creating opportunities out of challenges, rising above market crashes and having faith in the Sri Lankan people - this is a cross section of some of the insightful discussions that took place at the recently held young entrepreneur’s forum hosted by the asset managers of Guardian Acuity.

WISTA Sri Lanka breakfasts with Inland Revenue Commissioner General

The Women’s International Shipping and Trading Association (WISTA Sri Lanka) recently held a breakfast meeting for its members followed by an inspirational speech by Inland Revenue Commissioner General Kalyani Dhahanayake.  

SLID-IFC partner to present Women in the Boardroom: “Are men ready for it?”

The Sri Lanka Institute of Directors (SLID) and International Finance Corporation (IFC), recently as part of the SLID Power Evening series had a lively and interactive discussion on why there were less women in the corporate sector in Sri Lanka when women achieved leadership roles in professions, academia and judiciary.

Amãna Takaful launches Rhoda Uda Viplavaya insurance scheme in Central, NC Provinces

Amãna Takaful PLC (ATL) proudly showcased its latest revolutionary insurance schemes, Smart Rider Cover, a compelling insurance scheme for motorbikes and Tuk Tuk Full, a unique insurance scheme for thre-wheelers, in the Kandy, Kurunegala and Anuradhapura Districts recently.  

DFCC Bank partners with AIA to offer innovative bancassurance solutions

DFCC Bank recently entered into an exclusive long-term bancassurance partnership with the renowned insurance service provider, AIA.

Save Your Monkey insurance comparison website launched

Insurance is viewed as one of the many tiresome legal obligations by most Sri Lankans. The real purpose of it and the value it serves is overlooked by many. They fail to appreciate insurance, simply because it seems too complicated to understand and even more tedious to procure. 

NDBIB retains market leader position in listed debentures through 2016

NDB Investment Bank Limited (NDBIB) reaffirmed its supremacy in the capital market by successfully raising a total of Rs.31.5 billion through listed debentures during 2016 as the sole manager to the issue and jointly. From this amount, Rs.19.0 billion was raised for commercial banks, Rs.10.5 billion for finance companies and Rs.2.0 billion for corporates. 

HNB partners with UnionPay International for cards

Introducing another pioneering initiative to the Sri Lankan banking industry, HNB announced a new partnership with UnionPay International, to accept card payments from one of the largest payment networks in the world.

AIA declares strong 9.46% dividend for customers

AIA Sri Lanka has declared a dividend of 9.46 percent for its policyholders. This is yet another year of AIA delivering impressive dividend figures to its customers and this consistency is testament to the strength and outstanding investment strategy of AIA’s life fund, which now stands at Rs.32 billion. 

China’s Leagoo Mobile enters Sri Lankan market

Leagoo Mobile, owned by Shenzhen-based OTEDA Technology Co. Ltd and OTEDA Holding Group, officially entered into the Sri Lankan market by partnering with Natural Wonders (Pvt.) Ltd. 

Data science enthusiasts gather for 4th Colombo Big Data Meetup

The fourth session of the Colombo Big Data Meetup was held at VirtusaPolaris recently, where industry professionals discussed the latest findings in big data tools and technologies.

CSSL announces National IT Conference 2017

The National IT Conference (NITC) of Sri Lanka, organised by the Computer Society of Sri Lanka (CSSL) will be held from September 11 to 15, 2017 in Colombo, in partnership with SEARCC Conference 2017.

CodeGen partners Moratuwa Uni. for AI innovations

The first artificial intelligence (AI) innovations lab in Sri Lanka, titled QBITS, was introduced by CodeGen International (Pvt.) Ltd at the University of Moratuwa. 

Sri Lanka’s govt. integrity, economic freedom deteriorate

Sri Lanka slipped down to the ‘Mostly Unfree’ country territory this year in the Index of Economic Freedom, with the lack of government integrity being the only contributor towards the slip in both the ranking and the score.

Top WTO experts in town for DoC’s export confab begining today

Two leading experts from World Trade Organization (WTO) are now in Colombo for today’s pioneering session by the Department of Commerce to work on one of the most technically-demanding barriers for Lankan exporters-- Sanitary and Phytosanitary (SPS) measures or in simpler terms, quarantining and technical barriers.

LIOC December profits hurt by price controls

Lanka IOC PLC (LIOC), the unit of Indian Oil Corporation Limited has reported earnings of 48 cents a share for the October-December quarter against Rs.1.66 a share earned a year ago. 

Higher LPG prices, borrowings dent Laugfs December quarter

Diversified conglomerate, Laughs Gas PLC, saw its October-December quarter going into red while its nine months profits also falling sharply despite the top line recording gains, the interim results showed. 

Melstacorp profit slips over higher borrowings, bleeding telco

Melstacorp Limited, which houses Sri Lanka’s largest hard alcohol maker, reported earnings of Rs.1.34 per share or Rs.1.67 billion in net profits for the October-December quarter, down 7 percent from a year ago as finance costs and taxes rose sharply while the telecommunication unit weighed on the group performance. 

Unilever rejects US $143 bn Kraft Heinz bid as without merit

REUTERS: Unilever rejected a surprise US $143 billion takeover bid from U.S. food company Kraft Heinz Co on Friday, saying it saw no reason to discuss a deal which it said had no financial or strategic merit.

Nawaloka Hospitals 3Q profit falls as overheads, finance costs rise

Nawaloka Hospitals PLC, the Dharmadasa family-controlled medicare service provider, reported an earnings of 5 cents a share or Rs.72.4 million net profit for the October-December quarter, down 24 percent year-on-year (YoY) as the overheads rose, the interim results showed. 

World’s largest car carrier to call at H’tota port

MV Hoegh Tracer, the world’s largest pure car and truck Carrier (PCTC)  belonging to Hoegh Autoliners AS, Oslo, is scheduled to call at Hambantota port during the first week of March 2017 under its local agency Diamond Shipping Services (Pvt.) Ltd.

Shares fall for 2nd day; banks lead

Sri Lankan shares declined in a shortened session yesterday, further moving away from a four-week closing high hit earlier in the week, as investors sold banking stocks amid concerns over rising market interest rates.

Sri Lanka’s largest property show opens

Sri Lanka’s largest real estate show ‘Lanka Property Show 2017’ was inaugurated yesterday by Megapolis and Western

FinMin marks birthday with eye clinic

A free eye clinic was held yesterday at the Finance Ministry to mark the birthday of Finance Minister Ravi Karunanayake. Spectacles were also distributed free among the staff of the Finance Ministry during the eye clinic. Finance Minister Ravi Karunanayake’s birthday falls tomorrow.

Samsung chief Lee arrested in corruption investigation

REUTERS: Samsung Group chief Jay Y. Lee was arrested yesterday, a South Korean court said, over his alleged role in a corruption scandal that led parliament to impeach President Park Geun-hye.

Oil-rich Ecuador votes at economic crossroads

AFP - Oil-rich Ecuador is at an economic and political crossroads in corruption-tainted general elections tomorrow.

Primal Glass 3Q boosted by production expansions

Sri Lanka’s sole glass bottle manufacturer Piramal Glass Ceylon PLC posted a net profit of Rs. 202.32 million for the quarter ended December 31, 2016 (3Q17), increasing 21.59 percent year-on-year (YoY) after conducting major production expansions in the previous quarter.