Economic think tank urges policy makers to further explore export finance solutions

As Sri Lanka’s exports continue to slow down, Colombo-based economic think-tank Verité Research has urged policy makers to look towards further exploring export finance, an enabling policy that could potentially

Beer drinkers to switch to arrack this year following tax hike: Fitch

Fitch Ratings yesterday said Sri Lanka would witness a shift in consumer behaviour from beer to hard liquor this year.

CCC urges govt. to bridge ETCA information gap

Sri Lanka’s premier trade chamber, Ceylon Chamber of Commerce (CCC) yesterday urged the government to bridge the information gap relating to the proposed Economic and Technology Cooperation Agreement 

Economic think tank urges policy makers to further explore export finance solutions

??By Shabiya Ali Ahlam As Sri Lanka’s exports continue to slow down, Colombo-based economic think-tank Verité Research has urged policy

DFCC Bank funds Laugfs’ solar power project

DFCC Bank has provided financial support to Laugfs Group in establishing its first solar power project at Hambantota.

Vehicle imports plunge could result in deficit blowout: economist

The sharp fall in vehicle imports in January could have severe implications on government’s revenue collection and budget 

Tea production up in January; but exports and earnings dip

The local tea sector saw its production output for January kicking off with a positive note, but witnessed dampened year-on-year (yoy) growth in its export quantities and earnings.

Central Bank says won’t rule out another rate hike

The Central Bank Governor Arjuna Mahendran said yesterday that he would not rule out another rate hike this year if the foreign outflows continued. His comments came less than a week after a 50 basis point rate increase by the Central Bank.

IMF reform agenda good news for Asia

International Monetary Fund (IMF) Managing Director Christine Lagarde warned that the global financial safety net — the international resources and institutions designated to fight economic crises and prevent contagion — has become too fragmented and asymmetric. The safety net, she said, needs to be reformed and strengthened.

Giving up a dream job at Microsoft for entrepreneurship in food

Shama Joshi and Seema Pai look like your average girls next door – smiling faces and dependable outlook mark their foray into entrepreneurship with a new sense of hope and admiration. Yet they both come from background one would not imagine they gave up in pursuit of their dream. Joshi gave up her American Dream at Microsoft as a tech specialist to start a food truck that specialized in Indian favourites. Seema Pai was an Assistant Professo

Waters Edge on Rs.13bn expansion drive under Megapolis Master Plan

The Urban Development Authority (UDA)-owned resort Waters Edge in Battaramulla is gearing up for a Rs.13 billion expansion project under the Western Region Megapolis Master Plan, the resort officials said. 

NDB Bank shakes up industry with ‘Shake-Banking’

Sri Lanka’s development-oriented commercial bank, National Development Bank PLC (NDB) recently launched its next generation of digitally-enabled mobile banking platform – ‘Shake-Banking’ – which offers many industry firsts, officials from the bank said. 

Taking cultural and religious parades of Sri Lanka to the world

The Sri Lanka Tourism Promotion Bureau (SLTPB), in an effort to market the traditional Sri Lankan cultural parades and festivals to the world, as part of the events tourism initiatives this year, made arrangements for the winner of Ms.Tourism Sri Lanka International 2016 - Vera Branda Dukstra from Netherlands - to experience the Colombo Navam Perahera conducted by the Gangaramaya Temple, which took place on February 21 and 22.

HNB MD/CEO Jonathan Alles wins prestigious HR award

Hatton National Bank PLC (HNB) Managing Director/CEO Jonathan Alles was conferred the award ‘CEO With HR Orientation’ at the Global HR Excellence Awards 2016, sponsored by Chartered Institute of Management Accountants (CIMA) UK and endorsed by World HRD Congress and Asian Confederation of Businesses. 

Ceylon Chamber welcomes ETCA, but urges systematic consultations with private sector

The Ceylon Chamber of Commerce has consistently supported the expansion of Sri Lanka’s trade interests through signing mutually beneficial and well-designed trade agreements and this has been clearly articulated in its ‘10 Principles’ on the economy. The chamber believes that such agreements are an important tool in deepening trade and investment opportunities for its businesses, within a rules-based framework. 

DIMO wears overall crown at ACCA Sustainability Reporting Awards

Diesel & Motor Engineering PLC (DIMO) demonstrated its unique brand of corporate stewardship by donning the crown as overall winner at the twelfth ACCA Sustainability Reporting Awards, while Dialog Axiata was adjudged the overall runner-up.

Union Bank records impressive growth in 2015

Union Bank of Colombo PLC (UBC) and its subsidiaries concluded the year 2015 with a notable business performance; reflected by a 226 percent increase in post-tax profit that signals the strong growth momentum mobilised within the year. 

Harcourts Pharmacy launches loyalty card

Under the vision of Harcourts (Pvt.) Ltd Chairman Ahmed Rheyas, the Harcourts Pharmacy loyalty card was officially launched recently, at OZO Hotel Colombo. 

DFCC posts healthy balance sheet growth

2015 was a year of transformation for DFCC following the amalgamation with DFCC Vardhana Bank and the change in the financial year-end to December 31 from March 31.

SLIM Career Day connects students with leading corporates

With the objective of opening up its students to job opportunities available in the corporate world, Sri Lanka Institute of Marketing (SLIM), the national body for marketing in Sri Lanka, organised a mega Career Day at SLIM Business School in Colombo recently.

Nation Lanka Finance announces rights issue to raise Rs.502mn

Nation Lanka Finance (NLF) has announced a rights issue to raise Rs.502 million to support the company’s core capital requirement and ensure its compliance with regulations that have been stipulated by the Central Bank of Sri Lanka (CBSL). 

Etihad Airways announces Global Sale in Sri Lanka

Etihad Airways, the national airline of the United Arab Emirates, is offering travellers from Sri Lanka fantastic savings in its latest Global Sale. 

Boyagoda appointed as Colombo Trust Finance Chairman

Senior professional Mangala Boyagoda has been appointed as Chairman of Colombo Trust Finance PLC, a company formerly known as Capital Alliance Finance PLC, controlled by the Cargills group.  Boyagoda is a senior banker, possessing over 30 years of experience in the field of financial services. He commenced his banking career at Bank for Ceylon and served in capacities of Chief Dealer with a four-year stint at Bank of Ceylon London.

DHL extends TAPA certification stronghold in Asia Pacific

DHL Express, the world’s leading international express provider, has recorded a new milestone in its continuous drive to offer superior security and service levels in end-to-end supply chain solutions in Asia Pacific

K & D Management Services marks 10th anniversary

K & D Management Services Ltd celebrated its 10th anniversary recently. Celebrations took place at the company’s head office in Kelaniya headed by its Chairperson Grace Silva, giving prominence to Buddhist and Christian religious activities. A n a l l - n i g h t P i r i t h chanting with almsgiving ceremon

Nolimit triumphs at Triumph dealer convention with Gold award

Nolimit, the biggest fashion retail chain in Sri Lanka, seized the gold award as the ‘Best Dealer’ for the 8th consecutive year at the recently concluded Triumph dealer convention, competing with more than 60

Ceyoka showcases nextgen insulation and water proofing products

Sri Lanka’s largest, most prestigious and influential annual architect exhibition organized by the Sri Lanka Institute of Architects held recently, featured the latest products and services used by practicing architects, 

A taskforce to advise on shipping issues is the need of the hour: ICS Chair

Following is the speech delivered by Institute of Chartered Shipbrokers (ICS) - UK Sri Lanka Branch Chairman Lalith Witanachchi at the organisation’s 22nd Annual Awards Ceremony. Speaker of Parliament

Emirates to deliver a 14,000km flight in the shortest time

Emirates Airline’s first non-stop service between Auckland and Dubai will be one of the longest air routes in the world by distance, but with the assistance of clever technology and good planning, passengers

Etihad Airways collects leading finance award

Etihad Airways has been presented with the Best Finance Transformation Award in 2015 by Innovation Enterprise, a leading US-based company specialising in enterprise innovation. The award was given to Etihad Airways