People’s Bank Unveils State-of-the-art CDM/ATM/Kiosk at Head-Office to enhance customer convenience

Accelerating its digitalization drive, People's Bank proudly launched its Self Banking Center with CDM/ATM/Kiosks in seven locations  in Colombo district,

DFCC Bank Celebrates the Spirit Of The Season

DFCC Bank, in its efforts to celebrate the spirit of season has been very active in the month of December, adding to the festive ambience in Colombo. 

Apple partner Wistron seeks to expand India smartphone parts plant: govt official

REUTERS - Smartphone component maker Wistron Corp, which counts Apple Inc among its customers, has applied for permission to expand its plant in the Indian city of Bengaluru, a high-ranking regional government official said yesterday.

Swiss watch sector set for smartwatch boom - LVMH executive

REUTERS: Switzerland’s luxury watch sector can profit from a smartwatch boom as more consumers seek high-end versions of the technology, an industry veteran was quoted as saying.

Budget deficit in first 10 months down at 4.4%

Sri Lanka’s budget deficit up to October was contained at Rs.547.53 billion or 4.41 percent of gross domestic product (GDP) with higher revenue holding back higher expenditure to improve the situation from Rs.612.24 billion or 5.47 percent of GDP year-on-year (YoY), the Treasury data showed.

Top distiller says government efficiently tackling illegal alcohol operations

The Sri Lankan government has been tackling illegal alcohol operations more efficiently recently, which has created more business for formal hard liquor manufacturing companies, the industry’s market leader said recently.

Lamurep Investments makes voluntary offer on Sunshine Holdings

Lamurep Investments Ltd, an investment vehicle which now holds 43.4 million shares or 32.12 percent of Sunshine Holdings PLC, yesterday announced a voluntary offer to buy the remaining shares of the company at Rs.47.50 per share.

Rupee ends thin session weaker, seen under pressure

REUTERS: The Sri Lankan rupee closed weaker in its first session of the year yesterday as a lack of inflows weighed on sentiment, dealers said.

Finance Ministry says implementing 325 budget proposals in 365 days

Sri Lanka’s Finance Ministry Secretary Dr. R.H.S. Samaratunga yesterday said 2017 would be a year of many challenges and the 365 days of the year should be managed properly to implement more than 325 budget proposals in 2017.

Melstacorp-backed Lanka Bell plans resurgence

Telecom operator Lanka Bell, which has been whammed with taxation, is hoping to get back on its feet through efficiencies and cost cutting, its parent Melstacorp PLC (MELS) said recently.

Persons with difficulties in Sri Lankan labour market

Chitra is a language teacher at the high school near her home. She is well loved by her students. But, her class room is different – it is brightly lit, all the time. Chitra is only able to see in bright light. Despite this seeing difficulty (see definition of a person with a difficulty in Box) she has studied well and obtained a degree. 

Flemingo Duty Free offers 20% discount for ComBank credit card holders

Commercial Bank’s credit cardholders are now eligible to enjoysubstantial savings onpurchases made at Flemingo Duty Free at the Bandaranaike International Airport (BIA).

A shifting U.S. policy mix: Global rewards and risks

After a year marked by financial turbulence, political surprises, and unsteady growth in many parts of the world, the Fed’s decision this month to raise interest rates for just the second time in a decade is a healthy symptom that the recovery of the world’s largest economy is on track.

China’s economic policy choices narrow

As we wake to the beginning of a new year, the word that most aptly describes the world we face this year is uncertainty.

German Embassy sponsors motivational speaker Janis McDavid

Janis McDavid was born in 1991 in Hamburg, Germany and grew up with four siblings in Bochum, Germany. 

All school children to benefit from Rs.200,000 health cover: FinMin

Finance Minister Ravi Karunanayake assuring sustained economic development in the New Year said he was delighted to announce the introduction of a bonanza for all school children from 2017.

DFCC Bank celebrates spirit of season

 DFCC Bank, in its efforts to celebrate the spirit of season has been very active in the month of December, adding to the festive ambience in Colombo. 

Talawakelle tea estate wins Gold at Annual Report Awards

Hayleys PLC owned, Talawakelle Tea Estates PLC (TTE PLC) was honoured with a Gold Award under the plantation companies category for the third successive year by the Institute of Chartered Accountants of Sri Lanka at the 52nd Annual Report Awards ceremony held on 6th December 2016 at the Waters Edge. 

Industry and Commerce Ministry positions for president’s 2030 initiative

Sri Lanka’s Industry and Commerce Ministry yesterday threw its full weight behind the latest national initiative on poverty and sustainable resources.

AVIC Astoria unveils first tower to public

AVIC International Hotels Lanka Limited, a subsidiary of the Aviation Industry Corporation of China (AVIC) and a Global 500 company recently launched AVIC Astoria’s Tower 1 to the public at an event which took place amidst a ceremonial gathering on 21st December. 

Milinda meets top Japanese officials

Pathfinder Foundation Founder Milinda Moragoda visited Japan recently. The photo shows him with senior Japanese emissary, Ambassador Yasushi Akashi and Foreign Affairs Ministry International Cooperation Bureau Director General Takio Yamada. Akashi and Yamada accompanied Shinzo Abe, the first Japanese Prime Minister who visited Sri Lanka in 24 years, in 2014.

Hypromac Engineering wins International Quality Crown

Business Initiative Directions (BID) recently recognised Hypromac Engineering Services of Sri Lanka for commitment to quality, leadership, technology and innovation in the pursuit of excellence. 

CICT surpasses 2 mn TEU milestone in second full year of operation

Colombo International Container Terminals (CICT) has reported a throughput of 2 million TEUs for the 12 months ending 31st December 2016,

GSK’s two-drug HIV therapy shines in two big studies

REUTERS: GlaxoSmithKline’s already fast-growing HIV drug business has received an important boost after two major clinical studies successfully tested a new two-drug treatment regimen to control the virus that causes AIDS.

Supun Weerasinghe takes over as Dialog’s Group CEO

In a filing to the Colombo Stock Exchange last Friday, Sri Lanka’s premier connectivity provider, Dialog Axiata PLC, announced the succession of Supun Weerasinghe, as its Group Chief Executive, taking over from Dr. Hans Wijayasuriya who led the Company since 1997.  The transition of leadership takes place with effect from 1st January 2017. Weerasinghe will also join the board of directors of the Dialog Group in the capacity of an execu

Private credit in October soars

Despite the slight slowdown seen in private sector credit granted by the banking system in the country in October on a year-on-year (YoY) basis, the month marked the highest credit granted in absolute terms after March this year, bringing the total private sector credit granted during the first 10 months to a historically high, an analysis by Mirror Business showed. 

Ship agents urge authorities to expedite East Container Terminal

An influential shipping industry body recently said delays in the construction and operations of the East Container Terminal (ECT) of the Colombo Port may result in investors and container volumes shifting to regional ports.

December inflation accelerates to 4.1% as food prices spike

Sri Lanka’s headline inflation in capital Colombo accelerated to 4.1 percent during the 12 months to December from 3.4 percent due to faster rise in food and beverage (F&B) prices and moderate increases in non-food prices, the data released by the country’s Statistics department showed.  The inflation measured by the Colombo Consumer Price Index (CCPI) rose by 1.9 index points or 0.99 percent to 192. 8 during December from a

Melstacorp bets big on tourism, energy and financial services for future growth

Melstacorp PLC, (MELS) the latest entrant to the Colombo Stock Exchange, and the new parent of the blue chip Distilleries Company of Sri Lanka PLC (DCSL), is planning to focus on the three core areas of niche tourism,

Work on Rs.11bn tyre manufacturing plant to commence this week

The foundation laying of Rigid Tyre Corporation (Pvt.) Ltd., which is tipped to become Sri Lanka’s largest fully integrated tyre manufacturing facility with an investment of Rs.11.25 billion, is set to take place this Thursday (January 5), a company statement said.