ACCA Sustainability Reporting Awards on February 28

Strengthening its fundamental ethos of rewarding transparency, the Association of Chartered Certified Accountants (ACCA) Sri Lanka holds its flagship calendar event for the thirteenth year in succession on February 28th at Cinnamon Grand.  

Higher borrowing costs weigh on CIC Holdings December profit

CIC Holdings PLC (CIC), the diversified crop and agricultural solutions provider, reported earnings of Rs.3.58 a share for its October–December quarter (3Q17), down from Rs.5.93 a share reported during 

Lanka Property Web marks 10th anniversary with property show

Being held at JAIC Hilton on 17th and 18th, the property show will feature the latest luxury apartments and villas, exclusive previews of new property launches, and provide an opportunity to meet Sri Lanka’s prominent developers showcasing their latest projects. The event will be launched at 10am on the 17th with several key ministers attending the opening ceremony. 

South Asia Textiles strategizes with MTI

South Asia Textiles Limited (SATL), a leading Sri Lankan textile manufacturer specializing in producing

Cabinet nod for US $ 1.5bn bond issue

The Cabinet of Ministers has approved a proposal to raise US $ 1.5 billion through a sovereign bond issue to repay loans and manage interest payments.

President appoints Chamath Palihapitiya as SL’s ICT ambassador

Chamath Palihapitiya, a Sri Lankan-born businessman and investor in Silicon Valley, has been appointed as Sri Lanka’s ICT ambassador by President Maithripala Sirisena

LankaClear emerges first Sri Lankan entity to be PCI-DSS certified

LankaClear achieved another gigantic milestone bybecoming the first entity in Sri Lanka to obtainthe certification of Payment Card Industry Data Security Standard (PCI-DSS),version 3.2. 

DIMO wins first place for Best Integrated Annual Report in South Asia

Diesel & Motor Engineering PLC (DIMO) recently achieved recognition for their widely acclaimed annual report. 

Blue Mountain Achilleion – Star Attraction at Maldives Living Expo 2017

Blue Mountain Achilleion, Sri Lanka’s seven star luxury real estate project, will be headlining the Maldives Living Expo 2017 to be held from 16th to 18th February 2017

Footwear and Leather Fair 2017 provides the much needed leg-up to the industry

The 9th annual Footwear and Leather Fair successfully concluded at the Sirimavo Bandaranaike Memorial Exhibition Centre after 3 days,

Independent accreditation body proposed to fix education sector glitches

The Sri Lankan government should introduce an independent accreditation body to monitor and regulate both state and private sector higher education institutes, a leading figure of a state-run economic policy think tank advocated this week.

Price controls dent Sunshine Holdings December profits

Diversified conglomerate Sunshine Holdings PLC posted a net profit of Rs. 13.46 million for the quarter ended December 31, 2016 (3Q17), down 92 percent year-on-year (YoY) from a net profit of Rs. 174.63 million, largely due to pharmaceutical price controls imposed by the government. 

Sampath 4Q profit soars amid higher credit

Sampath Bank PLC, Sri Lanka’s third largest private lender by assets, reported earnings of Rs.14.44 a share for its October–December quarter against Rs.8.91 a share reported a year ago, the interim results released to the Colombo Stock Exchange showed. 

Tourists visiting Sigiriya on the rise

Sri  Lankans and tourists climb the 80-metre (600-foot) fortress of Sigiriya rock (the Lion Rock) in Sigiriya, north-central  

Aitken Spence’s resumed energy operations energize 3Q profit

Diversified Aitken Spence PLC reported earnings of Rs.2.14 a share or Rs.870.1 million for the December quarter (3Q17) recording an increase of 36.5 percent from a year ago, the interim report showed.

What type of protectionism should we fear?

US President Donald Trump recently signed executive orders to withdraw the US from the Trans-Pacific Partnership (TPP) and renegotiate the North American Free Trade Agreement (NAFTA). Both moves suggest his pre-election rhetoric of criticizing the current international trade regime is being translated into concrete action.

BOC-Mastercard team up to enable faster payment innovation

Bank of Ceylon (BOC) announced that it would be strengthening its longstanding partnership with Mastercard, enabling it to tap into Mastercard’s global technology and expertise to bring payment innovation to Sri Lanka faster.

Durdans Center for Orthopaedics sets standards for exemplary care

Total joint replacement or arthroplasty, represents a significant advance in the treatment of painful and disabling joint pathologies.

Lanka Hospitals partners Jaffna International Trade Fair 2017

Lanka Hospitals was the official health care partner of the 8th Jaffna International Trade Fair (JITF) that took place from the 27th to the 29th January at the Municipal Grounds Jaffna. 

NDB Infinite, Signature credit cards offer access to world-class airport lounges

Overseas travel is now better than ever before with an NDB Good Life Signature or Infinite Credit Card. Along with your Infinite and Signature credit card, the bank gives you a complimentary Priority Pass membership card that allows customers to access over 1000 airport lounges at over 400 airports worldwide.  

French pharma giant Sanofi says profits up in 2016

pharmaceuticals giant Sanofi said cost-cutting measures and the strong performance of its rare diseases business drove up profits last year.

CAL to offer Sri Lanka’s first-ever digital account registration in CSE

Sri Lanka’s leading investment banking firm and the preferred partner in financial markets, Capital Alliance (CAL), has created history by becoming the only broker to register an account digitally with the Colombo Stock Exchange (CSE) for the first time in Sri Lanka. 

How emerging market investors can negotiate Trump factor

The first few weeks of the new US administration have made one issue quite clear – President Trump is keen to deliver on his campaign promises. One of the cornerstones of his declared policy is to negotiate better trade deals for the US with its neighbours such as Mexico and Canada, as well as with key trade partners in Asia.

Nawaloka Baby Care unit underscores value of informed decision making in maternity and infant care

Nawaloka Hospitals’ Mother and Baby care unit highlights the value of informed decision making in maternity and baby care to ensure health and well-being of child bearing mothers and infants. 

Fitch reaffirms People’s Bank at ‘AA+(lka)’ with Stable outlook

Fitch Ratings Lanka Limited recently reaffirmed the National Long Term Rating on People’s Bank at ‘AA+(lka) with a Stable outlook - continuing to put the institution amongst the two highest rated locally incorporated commercial banks in the country on a national scale.

Vallibel Finance December profit up 32%; loans & leases moderate

Vallibel Finance PLC, a Dhammika Perera-controlled licensed finance company, reported earnings of Rs.4.39 per share for the October-December quarter against Rs.3.34 a share reported during the same period last year, the interim report showed.  

Pannipitiya Private Hospital becomes tech savvy to mark anniversary

Sri Lanka’s premier private hospital, Pannipitiya Private Hospital parallel to its 20th anniversary celebrations has introduced several modern technological features to its portfolio for the benefit of  its patients.

Ranpatha Weda Medura opens for all sicknesses

Ranpatha Weda Medura in Kandy Road Peliyagoda managed by Dr, Ruwan Ranpatha of the Ranpatha ayurvedic generation now offers you Ayurvedic medical treatments for number  of sicknesses. 

Fifth Capital Market Conference on Feb. 21

The fifth Annual Capital Market (CAPM) Conference, organised by UTO EduConsult in conjunction with KPMG and Adl Capital as the key knowledge partners, will be held for the fifth consecutive year on February 21, 2017.

South Asian stock exchanges to meet in Colombo

The Colombo Stock Exchange (CSE) will host the Executive Committee Board Meeting for the current term of the South Asian Federation of Exchanges (SAFE) on February 27, 2017.