Fitch cuts assessment Lankan banks’ operating environment to ‘b+’ from ‘bb-’

Fitch Ratings has downgraded its assessment of Sri Lankan banks’ operating environment to ‘b+’ from ‘bb-’ and assigned a negative outlook. 

Etihad Airways joins Indian designer Manish Malhotra at Lakmé Fashion Week

Etihad Airways has teamed up with renowned Indian fashion designer Manish Malhotra to showcase the artiste’s latest collection at the forthcoming Lakmé Fashion Week in Mumbai. 

Fine Furniture launches ‘Häcker SMART’ in Sri Lanka

Fine Furniture Sri Lanka, an interior product retailer launched a new range called Häcker SMART 

Esala Perahera – A top tourist attraction

A fire-dancer performs in front of the historic Buddhist Temple of the Tooth, as he takes part in a 

Amana Takaful Life shares debut on CSE

Amana Takaful Life Limited (ATLL), a fully-owned subsidiary of Amana Takaful PLC, rang the opening bell to commence trading and celebrate the listing of its shares on the Diri Savi Board of the 

Int’l travel writers, bloggers and electronic media cover Kandy Perahera

In line with Sri Lanka Tourism’s strategy of promoting local events globally, Sri Lanka Tourism sponsored groups of foreign journalists and bloggers to cover the most spectacular festival in Kandy 

Janashakthi launches ‘Full Option Appathon’ next-gen smart tech challenge

Janashakthi Insurance PLC, a leading innovator in the insurance industry, launched its latest campaign to capture the innovative minds of today’s youth – the ‘Janashakthi Full Option Appathon’, 

Singer brings excitement to Jaffna through “Yaal Singer Fiesta”

Singer Sri Lanka PLC is set to bring excitement to the people of Jaffna through “Yaal Singer Fiesta”, 

Best Western Elyon Colombo marks second anniversary with excellence in hospitality

Best Western Elyon Colombo, Sri Lanka’s first ever Best Western Hotel, part of the globally 

Unilever continues to reign as country’s most respected multinational

Unilever Sri Lanka was rated as the most respected multinational company in the country yet again 

Provision reversal ups BoC June net by 36% amid narrowing margins

State-owned banking giant, Bank of Ceylon (BoC) saw its June quarter net profits growing by 36 percent to Rs.4.9 billion from a year ago amid compressing margins, slower growth in loans and 

Sri Lanka signs MoU on ICT cooperation with Huawei

During his visit to Huawei’s headquarters in Shenzhen, Prime Minister Ranil Wickremesinghe and the Ambassador of the Chinese Embassy in Sri Lanka jointly witnessed the signing of a Memorandum of 

Oman Air expands international network to include Iraq

Oman Air has announced further expansion to its global network with a new destination starting in September 2016. The flights will operate from Oman Air’s hub in Muscat to Najaf, in Iraq with four 

Prym Intimates becomes world’s first apparel accessory firm to adopt Chemical Leasing

Prym Intimates,which is a subsidiary of apparel giant MAS has just announced the successfullaunch of a chemical leasing model to treat its waste water.

JKOA recognises top flyers at annual Technical Service Provider Network Gathering

John Keells Office Automation (Pvt) Ltd (JKOA) hosted its technical service provider network to a day of discussion,

‘Strokes at the Mews’ – Keeping the Sri Lankan art alive

In celebration and support of Sri Lankan art and artists the seventh season of Leo Art titled ‘Strokes at the Mews’was recently held at the Park Street Mews. 

SLT Group 1st Half Revenue up; Profits Affected by External Factors

Sri Lanka Telecom PLC released the Group financial results for the first half of 2016. The Group comprises of the holding company

Lankan corporates bet high on Maldives despite downturn in tourism

The Sri Lankan companies opening resorts in the Maldives could remain profitable if they focus on the high-end segment, a leading leisure sector executive said, as concerns are being expressed about the business prudence of more Lankan companies into the archipelago. 

Softlogic June quarter net up 22%; VAT hurts healthcare biz

Softlogic Holdings PLC, which has interests into retail, information technology, financial services, healthcare, leisure and automobile, increased its June quarter (1Q17) net profit by 22 percent to Rs.101.8 million or 13 cents a share from a year ago, the interim results showed.

July vehicle registrations dive to lowest in 2016

Sri Lanka’s vehicle registrations in almost all categories except buses and heavy trucks have taken a dive in July, recording the lowest monthly figure for the year, a monthly vehicle registration tracker by a leading Colombo-based stock brokerage showed.

Raigam Salterns proposes Rs.536mn rights issue to acquire related company

Raigam Wayamba Salterns PLC, a salt-based product manufacturer and exporter, said it was planning to raise Rs.536 million through a rights issue to acquire a similar business currently owned by its parent. 

Amana Takaful Life shares debut today

The ordinary voting shares of Amana Takaful Life Limited will be listed on the secondary Diri Savi Board of the Colombo Stock Exchange (CSE) today. The security code given for the share is ATLL-N-0000. The company will be classified under the banks, finance and insurance sectors.  ATLL is the first Sri Lankan company to announce an initial public offer (IPO) post segregation of the country’s insurance industry. The company offered 50 m

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A Buddhist devotee offers flowers in front of a Buddha statue at a temple in Colombo. Sri Lankan Buddhists celebrated Nikini Full Moon Poya yesterday engaging in religious activities. The country’s capital market was closed due to the holiday  (Reuters Photo)

Ceylon Chamber calls for corporates’ input on trade liberalisation

As the Sri Lankan government works towards forging a series of free trade agreements (FTAs), the Ceylon Chamber of Commerce (CCC) is calling for companies to submit substantive inputs on trade policy matters so that the private sector can strengthen its representations in the trade negotiators. “The chamber has always been supportive of mutually beneficial trade agreements and has held the view that such agreements need to be forged followi

George Steuart Teas honoured as ‘Highest Value Added Exporter’

George Steuart Teas, one of the country’s foremost exporters of Ceylon Tea who are widely recognized as the ‘Original Tea People’, were honoured as the ‘Highest Value Added Exporter in the Tea Sector’ in the year 2014 at the recently concluded 20th Presidential Export Awards (PEA) ceremony which was held under the auspices of President Maithripala Sirisena.

PIM Alumni installs new director board

The PIM Alumni (PIMA), the professionals association of the prestigious Postgraduate Institute of Management (PIM) affiliated to the University of Sri Jayewardenepura, recently concluded the official installation of the new PIMA board of directors for the year 2016/2017, during a grand ceremony held at Grand Oriental Hotel recently.

Acnes Creamy Wash and Sealing Gel for acne-free flawless skin

The easiest solution for an acne-free flawless skin, Rohto Pharmaceutical Japan’s exclusive acne-care products, ‘Acnes Creamy Wash’ and ‘Acnes Sealing Gel’ were launched in Sri Lanka by Rohto Mentholatum Lanka (Pvt) Ltd recently.

Vallibel Finance lights up Borella and Mt. Lavinia with new branches

Financial innovator Vallibel Finance added two brand new branches, including a motor division 1st of its kind, to its expanding network, creating a frenzy of interest in the popular townships of Borella and Mt. Lavinia.

Oracle HCM Cloud paving way for HR digital strategy

Yazad Dalal is the Senior Director of HCM Strategy and Transformation at Oracle Corporation where he is responsible for developing thought leadership and identifying trends in all areas of Human Capital Management. He works with HR leaders to deliver technology solutions that enable them to transform their organizations and modernise their workforce tools. 

WEDF to tackle key topics of regional and global trade

The 16thedition of the World Export Development Forum (WEDF) will see global business leaders, policy makers and heads of trade discuss issues ranging from transitioning trade environments, transparency and traceability to business strategies and trade policies across the world.