CB says LTV cap on vehicle loans has served its purpose

The loan-to-value (LTV) cap set on vehicle imports may be removed soon as its intended aim has been fulfilled, Central Bank Governor Arjuna Mahendran said.

Dipped Products Dec. quarter in red as margins compress

Hayleys group rubber glove manufacturing unit, Dipped Products PLC (DIPD) reported a net loss of Rs.78.9 million for the quarter ended December 31, 2015 from a net profit of Rs.326.2 million due to contraction in top line, the interim results showed.  

ECCSL maritime forum to be held this month

The European Chamber of Commerce of Sri Lanka has decided to host the “ECCSL Maritime Forum 2016” in collaboration with the Shipper’s Academy Colombo, to provide In-depth insights into new IMO container weight verification regulations.

Fate of US $ 150mn wind and solar power plant in Jaffna hangs in balance

The Ceylon Electricity Board (CEB) appears to be dragging its feet to delay or discontinue the progress of a 35-megawatt (MW) US$ 150 million wind and solar hybrid power plant in Jaffna by a Malaysian investor.  

Patent case jury orders Apple to pay more than $625 mn

AFP - A Texas jury on Wednesday said that Apple should pay $625.6 million for violating patents held by a US company devoted to patent litigation.

Celebrating Independence

Sri Lankan military personnel march during the country’s 68th Independence Day celebrations in Colombo yesterday. 

NDB opens Thirunelveli and Chavakachcheri branches

National Development Bank (NDB) further extended its footprint in the Northern region of the country with the opening of its 97th branch in Thirunelveli and 98th branch in Chavakachcheri recently.

UA attends MDRT Experience & Global Conference in Hong Kong

Union Assurance (UA) is home to innovators that set the benchmarks for the life insurance industry in Sri Lanka. 

NTB’s ‘Inner Circle’ relaunched to open doors to a wider customer base

Nations Trust Bank (NTB) recently relaunched the ‘Inner Circle’ product with significant benefits that will be accessible to a wider customer base. 

CDS moves into paperless digital settlements with LankaPay

Central Depository System (CDS), a fully-owned subsidiary of the Colombo Stock Exchange (CSE), recently partnered with LankaPay

Food security: Asia’s critical balancing act

Asia’s food systems are under an unprecedented confluence of pressures. Balancing future food demand and supply in ways that protect the most vulnerable, while also being sustainable, must be a first order policy priority.

BUILDING CONFIDENCE INSIDE TO UNLEASH YOUR TRUE POTENTIAL OUTSIDE

Have you ever tried asking someone about your true potential? Why is it that, more often than not, your mind is conditioned to blind-spot the real picture?

ESET-DCS present next stage of enhanced, seamless data protection with StorageCraft

With a goal of bringing strategically selected companies with specialized know-how in specific IT security concerns together to form a bulwark of seamless protection..

Kingslake concludes Siemens Digital Manufacturing World Tour in Colombo

The Siemens Digital Manufacturing World Tour was successfully concluded in Colombo before a large gathering of engineers and professionals from the manufacturing,

Hutch CEO commends TRC for new flat rate determination

The Telecommunication Regulatory Commission (TRC), the country’s telecom regulatory authority, established a new flat calling rate from February 1, 2016. 

Expert optimistic about maritime sector recovery

The Sri Lankan maritime sector, which is currently depressed due to the global economic downturn, is likely to head towards recovery by end-2016, an expert said.

Korea studying to set up tunnel in Kandy to ease traffic

The Export-Import Bank of Korea (Korea Eximbank) and Sri Lanka’s Road Development Authority (RDA) are to collaborate to construct a tunnel to ease the traffic congestion in Kandy. 

Japan’s SG Holdings ups stake in Expolanka in Rs.2.6 bn deal

The controlling shareholder of Expolanka Holdings PLC, SG Holdings Global Pte Ltd, yesterday upped its holding in the company with the purchase of a 16 percent stake for Rs.2.6 billion. 

Odel December net driven by higher consumer spending

Leading life-style retailer Odel PLC posted a net profit of Rs.153.06 million for the quarter ended December 31, 2015, up from Rs.106.21 million net profit reported for the same period of the previous year. 

Lankan tea sector yet to gain from Iranian banks’ SWIFT link

The local tea industry will have to wait further to reap the benefits originating from Iranian banks reconnecting to the Society for Worldwide Interbank Financial Telecommunication (SWIFT) as Sri Lanka’s monetary watchdog is yet to act on it. 

All set to mark Independence Day

Special Task Force (STF) soldiers with gas masks sit on an armoured vehicle during a rehearsal yesterday for the country’s 68th Independence Day celebrations in Colombo

SLT Introduces SEA-ME-WE 5 Submarine Cable System and First Tier 4 ready Data Center to Sri Lanka

In 2014 SLT proudly announced its partnership with 15 international telecommunication operators representing 17 countries,

happiness.lk unveils new look

Sri Lanka’s leading mother, baby and child care website, www.happiness.lk, recently unveiled a new look with an easy to navigate and fast loading features.

Time to adapt to three inconvenient investment truths

Global markets have had a rather rocky start to the year, to put it mildly. An indicator of global stocks has fallen 19 percent from their record highs in May 2015 amid a broad-based sell-off in risk assets. 

ComBank opens branch at BIA’s Departures Terminal

Commercial Bank of Ceylon has opened a second branch at Bandaranaike International Airport (BIA) Katunayake, to serve the foreign currency needs of passengers using its Departures Terminal.

Renuka crowned ‘Best Coconut Brand’ at Presidential Export Awards

Renuka was recently adjudged the ‘Best Coconut Brand’ and Renuka Agri Foods Plc was awarded the ‘Best Brand Exporter’ and ‘Best Exporter - CoconutSector’ at the Presidential Export Awards Ceremony held recently under the patronage of President Maithripala Sirisena in Colombo. 

Achieving economic independence

Everything is ready to celebrate the national Independence Day ceremoniously. It was because of our forefathers who shed their blood for the sake of motherland that the nation was free of British imperialists who exploited the spirit of people. The nation, since independence, has faced lots of challenges, some of which dragged the country back. However, for a nation, its independence day means not just celebrating the glory but also looking back

Ceylon Chamber’s Investor Forum attracts global interest

The upcoming ‘Sri Lanka Investment & Business Conclave 2016,’ organized by the Ceylon Chamber of Commerce has seen wide interest from investors from across the globe.

Litro Gas recipe competition winners get vouchers

Litro Gas Plc awarded the winners of Christmas Recipes sharing competition recently.  

NDBIB raises record Rs.60bn in 2015

NDB Investment Bank (NDBIB), Sri Lanka’s premier investment bank, raised a mammoth Rs.60 billion in debt and equity capital for its valued clients during the year 2015.