Target 2020: Enable 20% of retail payments via JustPay

In a bold effort to ensure Sri Lanka’s payments industry landscape continues to revolutionize and stay abreast with the latest global trends, LankaClear unveiled another groundbreaking initiative with an ambitious objective to drive 20 percent of retail payments via smart mobile devices by the year 2020.

Cinnamon Red recognises star performers

Celebrating the talent that is driving forward the success of Cinnamon Red, the lean luxury property held its 3Q Associate Meeting last week, acknowledging the hard-working individuals and discussing the hotel’s plan for the year. 

Capital Alliance introduces CAL Talent Circle programme

Sri Lanka’s leading investment banking firm and the preferred partner in capital markets, Capital Alliance Limited (CAL), has launched a new management trainee and internship programme called ‘CAL Talent Circle’ to attract and nurture talent in the financial services industry.

BMICH rewards 25 years’ service tenure

The BMICH commenced the first working day of 2017 with a multi-ethnic, multi-religious inauguration to herald the New Year on an inspiring note designed to take the award-winning success of the previous year to greater heights.  

Japanese Ambassador welcomes Sri Lankan JDS scholarship fellows 

The Japanese government has extended the Japanese Grant Aid for Human Resources Development Scholarship (JDS) programme since 2010 to train and develop the skills of young executive officers in the public sector, hoping them to become future national leaders and contribute to the national development of Sri Lanka, especially in formulating and implementing the national development plans.

MBSL collective agreement to overcome challenges ahead

Merchant Bank of Sri Lanka & Finance PLC (MBSL) signed a collective agreement for further three years at the Employers’ Federation of Ceylon recently. 

Union Assurance launches CEO’s Club to recognize bancassurance assistants

Union Assurance (UA) launched a special programme themed CEO’s Club – ‘Welcome to the Pinnacle of Success’ recently, to recognize and appreciate the bancassurance assistants who have excelled in their performance during the year 2016. 

Trademark registration bottlenecks block local brands going global: think tank

Delays in local trademark registration process could undermine the massive benefits deriving from Sri Lanka’s decision to comply with the Madrid Protocol, according to the Colombo-based think tank,  Verité Research.

Consumer prices accelerate 5.5% in January

Sri Lanka’s consumer prices measured by Colombo Consumer Price Index (CCPI) rose to a six-month high of 5.5 percent in January from a year earlier, accelerating from the previous month’s 4.5 percent under a revised base-year and market basket, data from the Department of Census and Statistics (DCS) showed yesterday.  

Amateurish policy making destroying agriculture sector: experts

Politicians are continuing to create unsound policies advocated by laymen to the field of agriculture in order to victimize the poverty-stricken farming population, which would result in an imminent derailment of the economy, scholars warned this week.

Dipped Products 3Q turns Rs.107mn net profit; but plantations weigh

Dipped Products PLC (DPL), the non-medical glove manufacturing unit of the Hayleys group, made a net profit of Rs.1.78 a share or Rs.106. 7 million for the quarter ended December 31, 2016 (3Q17) amid strong top line growth while keeping the costs under watch, the interim results filed with the stock exchange showed. 

CEB and LECO directed to pay interest on customer security deposits

The electricity sector regulator, Public Utilities Commission of Sri Lanka (PUCSL) has issued guidelines to the Ceylon Electricity Board (CEB) and the Lanka Electricity Company private limited (LECO) to pay an interest on security deposit of electricity consumers

PABC gets CB extension to beef up capital buffers

The Central Bank this week approved Pan Asia Banking Corporation PLC’s request to further extend the deadline for meeting the interim capital adequacy requirements for the banking sector.

Tuk-tuk safaris!

Sri Lanka has come up with various interesting ways to make its tourism product exciting to the increasing number of tourists visiting the island nation.

SupunAthukorala’s maiden anthology of poems ‘PremayataIdakEtha’ is launched

‘PremayataIdakEtha’ by contemporary poet SupunAthukorala was recently launched to the public at the National Library and Documentation Services Board auditorium in Colombo 07.

Mobitel Cash Bonanza Montero Extravaganza awards 12th lucky winner with Luxury Montero

Cash Bonanza Montero Extravaganza 2016 Introduced by the National Mobile Service Provider, SLT Mobitel, has become one of the most popular competitions in the country

Win a Nissan Leaf with HNB New World Rewards

Banking customers around the globe seem to be making the transition from traditional banking methods to E-banking. The costs and the difficulties associated with traditional banking

Research house projects gloomy outlook for economy

An independent research house has projected a gloomy outlook for Sri Lanka this year with the economy just growing a mere 3.9 percent amid slowing consumer spending, a depreciating rupee and an expanding budget deficit, though private sector credit is likely to ease. 

HVA Foods likely to get green light to commence work on US $ 4mn agri resort project

After years of delay, HVA Foods PLC is likely to finally receive its legally entitled lease agreement for a 175-acre state land near Wilpattu to start a US $ 4 million organic agricultural resort, expanding a 20-year-old pilot project.

CB grants additional time to Amana Bank meeting capital requirements

The Central Bank for the second time has granted additional time to the licensed commercial bank, Amana Bank PLC, to meet the interim minimum core capital, required to have been met by January 1, 2017, according to a filing to the Colombo Stock Exchange.  

CTC announces closure of two leaf depots

Ceylon Tobacco Company PLC (CTC) yesterday announced that it would be closing two of its leaf depots situated in Anuradhapura and Sigiriya.

NTB partners with Softlogic Life for Nations Max Bonus

Nations Trust Bank PLC (NTB) recently partnered with Softlogic Life to offer an exclusive life insurance cover along with a critical illness cover to its Max Bonus savings account customers.

Where is the international arbitration centre?

The present government which is keen on receiving direct foreign investments for the country, took a very positive step in this connection by establishing an international Arbitration Centre, at the World Trade Centre. 

CCEA-approved Rs.600mn poultry project asked to relocate

The construction of a Rs.600 million, five-hectare poultry farm in Nellikulama in Anuradhapura approved by the Cabinet Committee on Economic Affairs (CCEA) has received opposition from the Forest Department. 

CIM Sri Lanka holds Talking Point Programme today

The Chartered Institute of Marketing (CIM) Sri Lanka will be hosting its first CIM Talking Point Programme for this year today (31st) at the Hilton Colombo Residences from 6.00 pm onwards.  It will bring together top business leaders

Indian print media defying the odds?

One of the most widely read business newspapers in India turned broadsheet on 12 September 2016, defying the trend in developed countries to go digital only, creating more space for editorial and advertising content. 

Should Sri Lanka adopt Payment Card Industry Data Security Standard?

During the past few years, several data breaches have made global headlines. You may remember the Target Stores data breach in 2013 that put the credit card numbers and personal information of millions of people into the hands of cybercriminals. According to the court documents, about 42 million people had their credit or debit information stolen. 

Global investor interest in Sri Lanka “going through the roof”: StanChart

Standard Chartered yesterday gave thumbs up for Sri Lanka’s economic outlook as the global investor interest in the country is “going through the roof” due to a combination of push and pull factors stemming from the island nation’s reform-oriented government to more adventurous investors, who seek higher yields.

Bangladesh’s top financial services provider selects IFS Applications

IFS, the global enterprise applications company, announced that LankaBangla Finance Limited (LBFL) has chosen to implement IFS Applications 9 to support mission-critical processes such as financials, procurement, inventory management, HR, and document management. 

Asiri Central Hospital shares success stories on neuro-interventional treatment

Asiri Central Hospital, part of Asiri Group of Hospitals, which comes under Softlogic Holdings PLC, shared its success stories in breakthrough treatment option, neuro-interventional treatment, at the hospital auditorium, recently.