Sampath Bank to raise up to Rs.6bn via listed debt

The country’s third largest private bank, Sampath Bank PLC is to raise up to Rs.6 billion through a listed debt

SL urged to get policies right for globally-competitive apparel sector

??By Shabiya Ali Ahlam Sri Lanka’s apparel sector has been urged by the World Bank (WB) to capitalise

Central Bank presents Annual Report

The 67th annual report of the Monetary Board of the Central Bank of Sri Lanka was presented to President

Pan Asia Bank launches “Saviya” microfinance loan scheme

Pan Asia Banking Corporation PLC, Sri Lanka’s fastest growing commercial bank, took yet another giant step towards promoting sustainable financial inclusion with their recent launch of “Saviya” microfinance loan scheme. 

A T Cooray introduces high-tech office interiors

For almost 90 years A T Cooray has been known in the furniture manufacturing industry as the go-to place for innovative and quality designs for office interiors. 

NDB Securities releases report on GSP+

NDB Securities (Pvt.) Ltd (NDBS) released a report on the Generalized Scheme of Preferences (GSP) special incentive arrangement (GSP+) and its expected impact on the apparel sector of Sri Lanka. The report makes some interesting revelations about the expected time horizon for which Sri Lanka may be eligible for this scheme, whilst also analysing two listed companies in the textiles and apparels sector. 

Ravi Edirisinghe elected to CIMA Global Council

Ravi Edirisinghe has been elected to the Global Council of CIMA (Chartered Institute of Management Accountants) in the UK, for a three year term commencing June 2016 representing South Asia (Area 14).

David Pieris Motor Company appoints new Chairman

Effective 01 April 2016, Shyamal Mendis was appointed Executive Director and designated as Chairman David Pieris Motor Company Limited, David Pieris Motor Company (Lanka) Limited and David Pieris Automobiles Limited. 

US-based MCC holds discussions with Ceylon Chamber

A delegation from Millennium Challenge Corporation (MCC), a US government agency, held discussions with the Ceylon Chamber of Commerce (CCC) during its recent visit to the country. The delegation was met by CCC Chairman Samantha Ranatunga, Board Director Vish Govindasamy, CCC CEO Dhara Wijayatilake and former CCC Chairman Suresh Shah.

Visiting German delegation set to explore biz opportunities: envoy

With the message to the Sri Lankan government to follow the policy it was elected on, not looking left or right, German Ambassador to Sri Lanka and Maldives Dr. Juergen Morhard said that a German business delegation would be visiting Sri Lanka looking for business opportunities.

BOC bestowed No.1 brand position for 8th consecutive year

State-owned banking giant Bank of Ceylon (BOC) once again was bestowed as the No.1 brand among all the brands in Sri Lanka for the 8th consecutive year by Brand Finance Lanka through an independent and stringent analysis. 

Panama Papers: The biggest exposure in history by investigative journalists

When Daniel Ellsberg leaked the Pentagon Papers to the New York Times in 1971, the 7000 papers of top-secret Vietnam War documents were the biggest leak in history, which consisted of only about a dozen megabytes as compared to the modern computer text files. About 40 years later, WikiLeaks in 2010 published Cablegate, with an astonishing 1.73 gigabyte collection of classified State Department communications that was supposed to be 1200 times big

A10 Networks appoints SAT authorised distributor in Sri Lanka

South Asian Technologies (Pvt) Ltd. (SAT) announced its appointment as the National Value Added Distributor for A10 Networks, the next-gen application networking and security leader- in Sri Lanka.  The partnership strengthens A10 Networks’ reach into the enterprise IT market in Sri Lanka and facilitates sustained engagement with new partners in larger cities as well as extending its reach in high growth Tier - 2 regions.

Toppan Forms bags Silver and Bronze at Collate 2016

Toppan Forms (Colombo) Limited (TFC), a print management outsourcing company, won Silver and Bronze awards at the recently held Collate 2016, an annual awards ceremony organized by the Sri Lanka Association of Printers recognizing the best in product, quality and excellence in the printing industry. 

Colombo Land appoints Vasula as Executive Director

Colombo Land and Development Company PLC (CLDC) recently announced the appointment of Vasula Premawardhana as Executive Director to serve on the board of the company.  He also serves as Chief Executive Officer of CLDC.

Burger King opens 11th outlet in Wattala

Burger King which is exclusively managed by master franchisee Softlogic Restaurants (Pvt) Ltd, just unveiled their 11thoutlet at Negombo Road Wattala recently.

Sritrims unveils fashion accessory collection for 2016 in China

Sritrims (Far East) Ltd.,  a renowned Hong Kong based company governed by a Sri Lankan management for the past 18 years with a brand image of offering Quality Products in the Fashion Industry, unveils their newest Fashion Accessories Collection for 2016 in Foshan, China. 

TMI Solutions partners with Daiichi

The Director’s of TMI Solutions (Pvt) Ltd, fast growing medical equipment trading company in Sri Lanka had a meeting with Kohzoh Hayakawa and Masahiko Yamamura of Daiichi Medical Products Co. in Japan to discuss the prospects of marketing Daiichi Medical products in the South Asian regions which TMI Solutions operates recently.

The need to face the facts in Asia

The Obama administration has never plainly acknowledged that it faces a major challenge from China to the US-led order in Asia, and it has therefore never clearly explained its strategy to deal with that challenge. Because it has never been clearly explained, the strategy has never been carefully scrutinised to see whether it has a credible chance of working. Instead it has slowly become accepted as orthodoxy among the US foreign and strategic po

REPATRIATE EARNINGS

Th e g o v e r n m e n t ’ s s u d d e n c a l l f o r exporters to repatriate funds e v o k ed mi x e d sentiments

Five-day rupee forwards firmer on bank dollar sales

REUTERS: Sri Lankan five-day rupee forwards edged up yesterday as dollar sales by a foreign bank outpaced

Shares end near 2-week low ahead of CB policy decision

REUTERS: Sri Lankan shares fell to a near two-week low yesterday as cautious investors waited for cues 

Chevron Lubricants April 12. decides on share split

Chevron Lubricants Lanka PLC yesterday said its director board had decided to increase the number of shares 

Hemas to bag Evergreen shipping agency: sources

Diversified conglomerate Hemas Holdings PLC is likely to bag the local agency for Taiwan-based Evergreen Line

Another PUCSL ‘no’ to CEB emergency power purchase request

The country’s energy regulator last week shot down another request by the Ceylon Electricity Board (CEB)

‘Everybody lives happily till next blackout’ quips energy expert

Both the current and past governments have swept post-blackout reports and recommendations which

PM addresses world biz community through CNBC

P r i m e M i n i s t e r R a n i l Wickremesinghe addresses the world business community and invites them

Hameedia Kiribathgoda celebrates first anniversary

Sri Lanka’s leading menswear specialist, Hameedia, recently celebrated the first anniversary of its Kiribathgoda branch in the presence of senior management and other dignitaries.  

Nawaloka Holdings with Sonalika launches 4WD-50HP tractors in Sri Lanka

Nawaloka Agri (Pvt.) Ltd, a division of Nawaloka Holdings, firmly believes in empowering farmers through technology-driven solutions to enhance agricultural productivity.

A year of high growth for Sanasa Development Bank

Sanasa Development Bank (SDB) posted an outstanding financial performance in 2015. The bank had a string year in terms of profitability, despite a challenging macroeconomic and regulatory environment.