Mackwoods battle hots up amid confusing statements from two opposing camps

By Shabiya Ali Ahlam An ugly battle is currently being waged between two estranged factions of the Nonis family 

VAT or no VAT?

A vendor sells toys and balls on the Galle Face promenade in the centre of Colombo. Sri L anka’s Supreme Court

Seylan Bank’s debentures over-subscribed on opening day

Seylan Bank’s 3 billion debenture issue was opened on 5th July 2016 and was successfully closed with an overwhelming response on the opening day itself, indicating strong investor confidence. 

SDB organizes Lakdaru scholarship seminars island wide

SANASA Development Bank has organized an island wide Lakdaru Scholarship Seminar Series for grade 5 students. 

Harsha to address Brexit briefing forum

Foreign Affairs Deputy Minister Dr. Harsha De Silva will be the keynote speaker at a Brexit briefing forum on Friday, July 15, 2016. The luncheon forum will be joined by the High Commissioner to Britain with other industry personalities to discuss the probable consequences when Britain leaves the EU. The event is organised by Shippers’ Academy Colombo with strategic support by the Council for Business with Britain. 

DG Commerce elaborates on FTAs at COYLE meeting

“It is important to remember that free trade agreements (FTAs) have become vital especially, for small countries like Sri Lanka, which have opened up their economies, which may not be that successful in facing up to the high competition in the global market,” stated Commerce Department Director General Sonali Wijeratne at the Chamber of Young Lankan Entrepreneurs (COYLE)  General Meeting.

“Waves” gather many volunteers to clean-up Mount Lavinia beach

Sri Lanka’s revolutionary flip-flop brand “Waves” brought together their employees and volunteers from all walks of life to stage a pioneering corporate social responsibility on Mount beach on 19th June.  The beach clean-up was held to commemorate “World Flip Flop Day” which falls on the third Friday of June every year. Waves” initiated the annual “World Flip Flop Day” celebrations in Sri Lanka

Sri Lanka Insurance ‘Sales Stars’ felicitated

The Sri Lanka Insurance Corporation (SLIC) recorded a growth of 20 per cent during 2015 and hopes to continue and improve on this performance during 2016, said SLIC Chairman Hemaka Amarasuriya at Star Awards 2016 held at the BMICH to honour the top achievers among the SLIC sales team.  Resurrecting and expanding the branch network is one step taken in this direction, he said. 

IWMI-WB convene South Asian climate adaptation, water resources management experts

Following the Paris COP 21 meeting, where water management was prominent in discussions on responding to climate change, a two-day meeting of experts from seven South Asian countries – Afghanistan, Bangladesh, Bhutan, India, Nepal, Pakistan and Sri Lanka – and the international 

Sampath Bank’s “Pahe Sishyathwa” seminar receives enthusiastic response

The third seminar of Sampath Bank’s “Pahe Sishyathwa” programme was held on 18th June at the Kakirawa Adharsha Prathamika Viduhala, Kakirawa. 

HNB setting new benchmark in Private banking: S. Nandakumar

Hatton National Bank (HNB) PLC is seeking to set a new benchmark in terms of customer convenience in the country’s high net worth domain.

The island and the mainland: Impact of fisheries on Indo-Lanka relations

The Indian subcontinent is surrounded from the North by the central Asian steppe and the Persian Afghan plateau is a challenging landscape from the ancient history. 

Singer donates 3 more dialysis machines under ‘Thirst for Life’ project

Singer Sri Lanka, the country’s leading consumer durable retailer, donated three CRRT (Continuous Renal Replacement Therapy) machines worth over Rs. 7.5 million under the Singer “Thirst for Life” health and wellness sustainability project, making the total number of machines donated to six units,    in helping those affected by CKD (Chronic Kidney Disease). 

NDB Wealth picks winner of online competition

Retired Commissioned Officer (Katunayake International Airport) and mother of two Prasanthika Gayani De Mel, from Homagama, hasbeen selected as the winner of the NDB Wealth “Share Your Savings Stories and Win!” online competition. 

ComBank ATM network first in Sri Lanka to be secure with EMV capability

The Commercial Bank of Ceylon has announced that it has completed the upgrade of its automated teller machine (ATM) network in Sri Lanka to EMV Chip capability, significantly enhancing security against fraud by conforming to the EMV standards of the various card brands that are accepted by the Bank’s ATMs.     

BOI signs US $ 982mn worth investments in June

In the month of June 2016, the Board of Investment (BOI) of Sri Lanka has signed 46 new investment agreements of a total value of US $ 982 million estimated investment, the state-run agency said.   These projects cover a wide range of sectors such as manufacturing, construction, mixed development, hotel, mini hydropower, trading house, solar power, apparel, research and development and education. 

Operation successful, patient dead! Dilemma of Colombo stock market

The performance of the Colombo Stock Exchange (CSE) has become a debatable subject matter in society. The upward trajectory of nearly 11 percent recorded during the months of March and April has gradually declined. The average daily market turnover that was recorded as Rs.1,059 million last year has reduced to Rs.747 million in 2016. The heavy price of the depressed market is felt severely by investors and stockbroker firms. Hence, it is timely t

South China Sea: after the Hague ruling, what’s next?

Any day now the Permanent Court of Arbitration in The Hague will hand down its judgment in the case brought by the Philippines about the validity of some of China’s claims in the South China Sea. Attention is focused mostly on the tribunal’s ruling on Beijing’s claim to some kind of ill-defined ownership of all the waters that lie within the famous ‘nine-dash line’.

Ceylinco Life launches ‘Pranama Weerayo’ campaign

Heroes come in many shapes and sizes and Ceylinco Life has chosen one segment – students that pass the Year 5 scholarship examinations – for special recognition under a new campaign. The life insurance leader’s ‘Pranama Weerayo’ programme is to present every pre-registered student that passes the examination, usually conducted in August, with a personalised certificate as a special form of recognition of his or her p

Nestle believes our biz must ‘create shared value’ for shareholders and society: MD

This is the third of the interview series the Colombo Stock Exchange in partnership with Mirror Business is featuring as an investor relations initiative. The interview in the Q&A format is aimed at providing a platform for S&P SL20 companies to talk about developments in the industry, the company and discuss growth prospects. Following are the excerpts of an interview with Nestle Lanka PLC Managing Director Shivani Hegde.

These kids made their dads cry!

Have you seen the latest video to take Sri Lanka’s viral space by storm? Launched by AIA Insurance, the video logged in over 5500 views on YouTube and almost 115,000 views and 2000 shares on Facebook, in just a week since posting, while continuing to grow in the number of people it engages. 

The Most Important Duty for Your New-Born

People’s Bank is now encouraging parents of new born children to start saving for their children from birth,

Lankan insurance industry to see more M&As - Fitch

Sri Lanka’s overcrowded insurance sector will see market-driven consolidation by way of mergers and acquisitions (M&As) during the next few years as insurers will work towards getting rid of their less 

Bourse loses Rs.113bn over capital gains tax fears in June - brokerage

The Colombo Stock Exchange (CSE) lost Rs.113 billion, or 4 percent month-onmonth in June as fears of a capital gains tax and its consequences on equity investments severely impacted investor 

Chinese FM visits Kelaniya temple

Chinese Foreign Minister Wang Yi (C) looks on during a visit to the Kelaniya Rajamaha Viharaya in Kelaniya on July 9.

In a first, Kerala imposes 14.5% ‘fat tax’ on junk food

Business Standard: In a first-of-its-kind move in the country, Kerala has introduced a ‘fat tax’ on the consumption 

G20 nations pledge to boost trade despite growing protectionism

AFP: The world’s top 20 economies will work to boost sluggish global trade despite growing protectionism,

Contradictory arrival forecasts cause confusion in tourism industry

Confusion among tourism authorities continues with the portfolio minister casually claiming that Sri Lanka would reach 2

ADB to support local capital Chinese FM visits market reforms

The Asian Development Bank (ADB) will be pushing for capital market reforms in Sri Lanka for the country to receive

DIMO gets recognized multiple times at Great Place to Work 2016 Awards

Diesel and Motor Engineering PLC (DIMO) has yet again been recognized as one of the ‘Great