Sanasa June quarter net falls amid shrinking margins

Sanasa Development Bank PLC saw its June quarter (2Q16) net profit falling by as much as 63 percent year-on-year (YoY) to Rs.77.8 million or Rs.1.85 a share due to narrowing margins, higher 

Damro in major expansion drive in Sri Lanka

Damro Group, South Asia’s leading furniture retailer which is on a major expansion drive by introducing 50,000 square feet   mega showrooms, inaugurated its latest showroom in the heart of the 

MBSL relocates Kilinochchi branch

Merchant Bank of Sri Lanka & Finance PLC (MBSL) has relocated its Kilinochchi branch to a more 

Colombo Dockyard gets top Lloyd certification

The Technical Review Committee of Lloyd’s Register Quality Assurance (LRQA), UK (LRQA) has 

Kedella opens

Large crowds flocked to witness the ‘Kedella’ art of living exhibition that opened for the 9th consecutive year at the BMICH yesterday. The 3-day exhibition ends tomorrow. Pic by Kithsiri de Mel 

Asia stocks cautious, oil price holds above $50

AFP - Asian stock markets were cautious yesterday even after gains on Wall Street and as oil entered a bull market. 

IASL Chief calls for urgent cooperation amongst industry players to boost life segment

Insurance Association of Sri Lanka (IASL) Chief yesterday called for urgent and increased cooperation amongst industry players to make certain the potential of life insurance, which has witnessed dampened growth rates, is fully untapped.

Abeysekera gets re-elected as SLBBC President

The 23rd Annual General Meeting of the Sri Lanka – Benelux Business Council was held on 11th August  at The Ceylon Chamber of Commerce. The Council, which focuses on the objectives of ‘promoting investment, trade and joint venture between Sri Lanka and Benelux’, is one of the twenty One bilateral business councils that functions under the aegis of the Ceylon Chamber  of Commerce. 

Stocks hit 3-mth closing high led by banks, construction shares

REUTERS: Sri Lankan shares hit a three-month closing high yesterday as investors bought banking and construction stocks, brokers said.

Rupee steady; importer demand offsets exporter dollar sales

REUTERS - The Sri Lankan rupee was steady for a fifth straight session yesterday as dollar sales by exporters and banks were offset by demand for the U.S. currency from importers, dealers said. The spot rupee was at 145.50/55 per dollar at 0632 GMT, unchanged from Thursday’s close. “The demand is offset by (dollar) sales by foreign banks to buy bonds and some stock-related inflow,” a currency dealer said, asking not to be named.

After drought, Southern Africa threatened by floods

AFP - UN agencies warned Thursday that southern African countries were at risk of another year of food shortages as the drought-hit region is expected to be hit by above-average rainfall likely to  trigger floods.

Foreigners barred from buying Australia’s largest energy grid

AFP - Australia will block the sale of its largest electricity network to foreigners, the government said yesterday, as two Chinese bids for the grid were rejected over national security concerns.

Ceylinco Life to award another 160 ‘Pranama’ scholarships

For the 16th successive year, Ceylinco Life has begun the search for bright young Sri Lankans eligible to win ‘Pranama’ scholarships under the life insurance leader’s flagship rewards programme. To be presented in early 2017, these scholarships to four recipient categories will benefit another 160 students and youthful Sri Lankans with disbursements totalling Rs.10 million, the company announced.

Amãna Bank initiates Grade 5 scholarship reward programme

Amãna Bank has taken the initiative to encourage and reward the academic achievements of its children’s savings account holders who are sitting the forthcoming Grade Five scholarship examinations.

Kelani Cables brings ‘Kelani Visura’ to Anuradhapura again

A brand-new ‘Kelani Visura’ electrical technicians’ workshop conducted by Kelani Cables PLC was held in Rajarata Hotel, Anuradhapura recently.

53 CMA management accountants pass out at May 2016 exam

The institute of Certified Management Accountants of Sri Lanka (CMA), the national management accounting body in Sri Lanka incorporated by an Act of Parliament No 23 of 2009, congratulates the success of 53 management accountants passing the May 2016 examinations. 

Wellawatta Nithyakalyani Jewellery receives Presidential Export Awards

NJ Exports, the export wing of Wellawatta Nithyakalyani Jewellery, a pioneer in jewellery trade in Sri Lanka, was recognized under the jewellery sector for the years 2014 and 2015 at the Presidential Export Awards ceremony organised by the Sri Lanka Export Development Board.

Pakistan keen to invest in agriculture, IT and construction sectors in Sri Lanka

Pakistan is keenly interested in investing in Sri Lanka, specially in the sectors of agriculture, Information Technology and construction, Pakistan High Commissioner to Sri Lanka, Retired Major General Syed Shakeel Hussain announced this when he met Finance Minister Ravi Karunanayake at the Finance Ministry this week.

Give2Lanka donates Rs. 1.5 millionto Berendina scholarship program

Give2Lanka (Gte) presented its first major donation, a cheque of Rs. 1.5 million, to Berendina Micro Finance Institute

Investment forum to give fresh impetus to war-ravaged North

The Northern Province is slated to receive fresh boost as it is gearing up to kick-off an investment forum coming Monday (22nd August) to showcase its potential and the opportunities it has to offer.  

Sri Lanka should be made a duty free shopping destination to attract more tourists: Pathirage

Sri Lanka should be transformed into a duty free shopping destination to attract more tourists, 

India and Sri Lanka begin talks on ETCA

The New Indian Express: India and Sri Lanka began preliminary official level talks on an Economic and Technical Cooperation Agreement (ETCA) which the two countries hope to sign by year end. 

Tokyo Cement June net up 38% as construction sector revives

Cement manufacturer, Tokyo Cement PLC, saw its June quarter (1Q17) net profit increasing 38 percent year-on-year (yoy) to Rs.643.8 million amid strong top-line gains and better cost 

Laugfs June profit plunges as borrowings weigh

Diversified conglomerate, Laugfs Gas PLC saw its net profit for the June quarter (1Q17) plunging to Rs.25.8 million from Rs.325.5 million a year ago as the borrowings taken to fund the growth during 

Damro plans Singapore listing to partly fund US $ 180 mn Indian expansion

Damro Group, South Asia’s largest furniture manufacturer and Sri Lanka’s number one furniture retail 

Ansell Lanka agrees to rehire most staff fired during 2013 strike

Ansell Lanka, the local subsidiary of international glove and personal protection manufacturer Ansell Limited, has agreed to rehire most of the staff that had been fired in 2013 for going on strike at its 

Kuwait Airways Colombo Selfie Contest

Kuwait Airways Colombo organized the Selfie Contest for the excitement for its online fans to take part & win exciting gifts.

Sri Lanka’s tourism industry and foreign ownership debate

The tourism sector is one of Sri Lanka’s success stories of the post-war economy. The industry r

Softlogic in association with Panasonic designates Mithun Perera Sports Ambassador

Mithun Perera, Sri Lanka’s sole standard-bearer on golf courses around the world, will be supported in his quest for further golfing glory by the Softlogic Group, one of the country’s fastest-growing 

Ceylon tea: A beverage or a CSR project?

A market study on the global tea market has been recently published by Transparency Market