Sri Lanka’s Ultimate Cross-Country Cycle Race by SLT

Sri Lanka Telecom announce the launch of yet another innovative venture in the form of the “SLT Speed Up Cycle Sawariya”

Aitken Spence-led consortium likely to bid for East Container Terminal

Blue chip conglomerate Aitken Spence PLC is expected to present an Expression of Interest (EOI) on East Container Terminal 

Nationwide consumer prices up 5.3% in May

Inflation, as measured by the change in the National Consumer Price Index (NCPI) increased to 5.3 percent in May

Moody’s cuts outlooks of 3 local banks following sovereign outlook downgrade

Following the downgrading of Sri Lanka’s B1 sovereign rating outlook to negative from stable, Moody’s yesterday revised down the outlooks of Bank of Ceylon, Hatton National Bank and Sampath Bank,

Shares fall after Moody’s outlook revision

REUTERS: Sri Lankan shares fell yesterday for a second straight session, a day after Moody’s revised down

Tea Board commissions tea land survey for accurate data

The Sri Lanka Tea Board is currently in the process of surveying all tea plantation areas in order to create a map

Brexit battle on knife edge in last 48 hours

AFP: Financier George Soros warned of a Black Friday plunge in sterling if Britain votes to quit the EU as new polls

A case of putting cart before horse?

Top economists in the country have warned that this may not be the correct time for Sri Lanka to be liberalising its foreign exchange markets, as the country’s macroeconomic fundamentals are not strong enough

Seylan Bank launches customer support channels via WhatsApp, Facebook Messenger

Reinforcing its credentials as a technology-savvy bank focusing on increasing customer convenience and engagement, Seylan Bank demonstrated its customer-centric digital preparedness by launching Sri Lanka’s first social media-based customer support channels via WhatsApp and Facebook Messenger. 

Fitch assigns Seylan Bank’s subordinated debt up to Rs.5bn final ‘BBB+(lka)’

Fitch Ratings has assigned Seylan Bank PLC’s (A-(lka)/stable) Basel II-compliant subordinated debenture issue of up to Rs.5 billion a final national long-term rating of ‘BBB+(lka)’.

HSBC Lifestyle Loans to support holiday aspirations this season

As many Sri Lankans look to vacation and spend time with family during the upcoming holiday season, HSBC is offering convenient and flexible Lifestyle Loans with additional benefits at competitive interest rates to afford customers a complete holiday experience.

Cathay Pacific provides ultimate flying experience

At the heart of Cathay Pacific is the belief ‘travelling well is an important part of living well’, thus it brings a service more ‘personable’, a design more ‘considered’ and products intuitive to passenger needs, helping give a more pleasurable travel experience. 

Emirates to deploy flagship A380 aircraft on Moscow route

Emirates has announced that it will be upgrading one of the two daily flights servicing its Dubai-Moscow route to an A380-800, commencing 1st December 2016. 

CINEC receives award for best research in ports and shipping

At the recently concluded R4TLI 2016 conference held on 4th June at Galadari Hotel-Colombo, the research paper “The Benefits of Container Exchange between Carriers: A Case Study” authored by Lalith Edirisinghe of CINEC Maritime Campus and Jin Zhihong of Dalian Maritime University-China was adjudged the best paper in the Ports and shipping category.   

SIA to expand US operations with non-stop and daily flights

Singapore Airlines (SIA) is to launch non-stop flights between Singapore and San Francisco and will add a second daily service to Los Angeles in an expansion of its US operations.

Jinasena water management solutions to battle CKD

Jinasena (Pvt.) Limited, one of the leading water management systems and solutions providers in Sri Lanka, is observing a growing demand for its water purification solutions as the country intensifies its battle against chronic kidney disease (CKD) which has been linked to contaminated or unfiltered water.

First Capital Wealth Fund outperforms all unit trusts

First Capital Asset Management Limited, managers of the First Capital Wealth Fund, announced a dividend of Rs.100 per unit. The First Capital Wealth Fund was Sri Lanka’s best performing fixed income unit trust for calendar years 2013 and 2014. 

People’s Bank unveils ‘Foreign Currency Gold Fortune 2016’ promo

People’s Bank Foreign Currency Gold Fortune 2016, a unique promotion for those living and working abroad who use People’s InstantRemit, People’s e-Remittance, Swift and Telex, to send money to their loved ones in Sri Lanka, was recently unveiled. 

SLEA’s Sri Lanka Economic Journal, Vol. 13, No. 2

The Sri Lanka Economic Association (SLEA) released the latest issue of its flagship publication Sri Lanka Economic Journal (SLEJ) at a public forum held at the Economics Department of the University of Colombo on June 21. The SLEJ has evolved over the years as a leading scholarly journal dedicated to economics and allied fields. 

MTI commended for contribution to Bahrain

Bahrain’s Minister for Electricity and Water Affairs Minister Dr. Abdulhussain Mirza received MTI Consulting Chief Executive Officer Hilmy Cader and discussed the company’s contribution in the field of consultancy and working on the development of management systems.

Nestlé hosts zonal Food Conference for Out-of-Home business in Sri Lanka

Nestlé Professional, Nestlé’s Out-of-Home business that provides culinary and beverage solutions to the restaurant and food service industries, is hosting its 2016 zonal Food Conference for Asia, Oceania and Africa in Sri Lanka this week. 

One-week rupee forwards down on importer dollar demand

Sri Lankan one-week rupee forwards fell yesterday due to importer dollar demand a day after Moody’s revised down its outlook on the country’s sovereign rating, dealers said. 

Malik meets Korea’s Vice Minister and biz team

Kim Kyung Hwan, Vice Minister of Korea’s Ministry of lands, Infrastructure and Transport visited SriLanka this week.

Second Colombo International Maritime Conference kick-starts in September

For the second consecutive year during the “Sri Lanka Maritime Week” in September, the Colombo International Maritime Conference better known as CIMC will be held from 21st to 23rd September in Colombo. 

Exporters hail fish ban removal; commend govt.

 The Exporters Association of Sri Lanka (EASL), an affiliated trade organization of the Ceylon Chamber of Commerce yesterday welcomed the lifting of the EU ban imposed on the export of Sri Lanka fisheries products to the EU market.

Saving democracies from central bankers and finocracies

Adam Smith in his ‘Wealth of Nations’ said this on monopolies (Page 450):  “This monopoly has so much increased the number of some particular tribes of them that, like an overgrown standing army, they have become formidable to the government, and upon many occasions intimidate the legislature. The Member of Parliament who supports every proposal for strengthening this monopoly is sure to acquire not only the reputation of u

Ceylon Chamber lines up top panel to discuss PPPs

‘Sri Lanka Economic Summit 2016,’ organized by the Ceylon Chamber of Commerce has lined up a top panel of experts from both the public and the private sector to discuss opportunities existing for Public Private Partnerships (PPPs) in the country.

Union Assurance introduces ‘Union Smart Health’

Union Assurance in its efforts to revolutionize the Sri Lankan insurance industry by continuously bringing forth innovative and creative solutions has introduced a unique cover that provides protection for the entire family. ‘Union Smart Health’ is a policy that provides coverage for the policyholder as well as all his dependents, a unique proposition in Sri Lanka. Union Smart Health functions as a rider cover to use as an add-on to t

Will Sri Lankan chicken ever cross the road to export market?

One has to admit that Sri Lanka’s chicken growers aren’t spring chicken at all. Within a single generation, they have made chicken the most readily available and economical source of non-plant protein in Sri Lanka, whereas it used to be considered a rare delicacy reserved for special occasions, just a few decades ago. 

MyDeal.lk new location marks another stride in expansion

One of Sri Lanka’s pioneering e-commerce companies MyDeal.lk recently moved to a new showroom marking yet another stride in an illustrious expansion drive.