Global Competitiveness and Sri Lanka

The Global Competitiveness Report compiled by the World Economic Forum as an annual analysis of economies around the globe, paying attention on key factors and their inter-relations of each country’s economic growth and present &future prosperity.  

NDB e-Statement guarantees highest security

?NDB being in the forefront in dynamically taking sustainable initiatives has now introduced a revolutionary e- Statement which is fully integrated with a complete review of the finances and it allows account holders to easily manage their savings. 

CA Sri Lanka to conduct leadership programme for top finance professionals in March

?The Business School of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), together with the internationally renowned Euromoney Training will conduct a proactive financial leadership programme exclusively for the country’s high profile finance professionals in March 2016. 

Amãna Bank rewards debit card holders

Amãna Bank, Sri Lanka’s premier non-interest based licensed commercial bank, has commenced a promotion to reward its debit card holders by wiping out their bills up to Rs. 5,000 daily. 

Fashion Bug offers scholarships to needy students

Fashion Bug, one of Sri Lanka’s leading retail clothing chain with over 16 outlets island-wide recently awarded scholarships to young talented students who were among the winners of this year’s Roo Siththam,

Rupee hits record low on late importer dollar demand

?REUTERS: The Sri Lankan rupee fell to an all-time low yesterday as late importer dollar demand weighed on the local currency, currency dealers said.

Sanasa Bank’s debentures draw applications over Rs.2bn

?Micro finance lender Sanasa Development Bank PLC yesterday said it received applications for over Rs.2 billion for its listed debenture issue which officially opened yesterday.

Da Bindu Muthu 2015

A trade fair showcasing the entrepreneurship of Samurdhi recipients in the Matara district under the title ‘Da Bindu Muthu 2015’ commenced at Uyanwatte Stadium yesterday.

DMS Software pushes expanded Oracle offerings with focus on cloud solutions

?With their vision to evolve, transform and empower, DMS Software Technologies, recently hosted an event titled “What’s Next – DMS Software Technologies 2.0 “in collaboration with Oracle Corporation.

Predictions for the manufacturing sector

The use of smart machines in manufacturing is growing rapidly; by 2018, 50 percent of the fastest growing companies in the world will have fewer employees than smart machines, according to Gartner. 

Sophos cyber security predictions for 2016

?Sophos, a global leader in network and endpoint security technology has released its global cybersecurity predictions for 2016, which discusses the nature of evolving threats vis-à-vis rising complexity in securing the cyber space. 

Sri Lanka wins two coveted Gold and five Merit awards at APICTA

?Sri Lanka clinched two coveted Gold and five Merit awards at the recently concluded Asia Pacific ICT Awards (APICTA)-2015 in Colombo, the Federation of Information Technology Industry Sri Lanka (FITIS) and BCS the Chartered Institute for IT Sri Lanka (BCSSL) announced. 

Bi-lateral FTA with USA makes no sense: Prof. Sally

?Bilateral Free Trade Agreement (FTA) with the United States of America (USA) does not make sense when Sri Lanka could aim for a much broader Trans-Pacific Partnership (TPP) ...

Sri Lanka’s largest private bank goes green

?The Commercial Bank of Ceylon said its environment-related initiatives had made steady progress in 2015 with the installation of solar power systems at four branches, the award of tenders for five more branch conversions, and the acquisition of 20 more paperless deposit machines.

Pawning restrictions on banks to hinder working capital for farmers

Restricting banks from engaging in pawning activities will push the country’s farmers into more informal and dangerous methods of financing, a leading economist warned.

Shares end at near two-week low; financials lead

REUERS:  Sri Lankan shares closed at a near two-week low on Monday, led by financials amid thin trading as many market participants were on holiday after a long weekend.

Economists highlight challenges and opportunities for businesses in 2016

Sri Lankan businesses are likely to face enormous challenges in the coming year both in the local and export markets due to political and macroeconomic issues, leading economists in the country pointed out in conversation with Mirror Business.

Plantation crisis: Let’s start a new journey in 2016 with end in mind

When looking at the overall achievement after 40 years since the initial nationalization of the plantations, it is very off-putting to observe that the plantations industry of Sri Lanka is in grave danger.

Sri Lanka opens the door to economic reform

The direction of Sri Lanka’s post-civil war socio-political and economic development took a pivotal turn in 2015 with the election of a new President in January and, seven months later, a new government to parliament.

Celebrating 60 years of diplomatic relations with Spain

A ceremony was held to celebrate 60 years of diplomatic relations between Spain and Sri Lanka at the Grand Ballroom, Galle Face Hotel, recently.

AKG headphones now available at Abans stores

AKG provides a high quality sound experience in comfortable headphones made to withstand the rigors of on-the-go lifestyle while lending an inspirational sense of styling.

CK Homes launches City Edge Residences

?C K Homes (Pvt) Ltd, the new member of the C K Group, commenced work of City Edge Residencies, a BOI-approved project in Kelaniya recently. 

McFoil wins top green award

McFoil, the Sri Lankan market leader for domestic heat insulation, was recently awarded the Green Products Certificate at an awards ceremony organized by the Ceylon Institute of Builders at the Hotel Galadari. 

Nature’s Secrets oil moisturizing body lotion now available in herbal essences

?The new, improved natural oil body lotion range from Nature’s Secrets is now available in new, enticing packaging for 8 herbal variants to pamper, moisturise and protect your skin all day long. 

Alumex honoured at NBE Awards 2015

?Alumex, a leading Sri Lankan manufacturer in aluminum profiles clinched several awards at the National Business Excellence Awards 2015 (NBEA), organized by the National Chamber of Commerce of Sri Lanka. 

BAM Green shines once again in Sri Lankan solar industry

? Together with the strength of REC (Norway) and Fronius (Austria), BAM Green moves another step ahead with the first ADB (Asian Development Bank) Funded Solar Project in Southern Province with the approval of the Sustainable Energy Authority. 

DFCC offers cash reward for every children’s savings account opened on New Year’s Day!

?For the first time in Sri Lanka, DFCC bank will run a new year children’s savings promotion to motivate parents to open savings accounts for their children on New year’s day

Big ideas for small business managers : Sharpen the focus and improve fighting reflexes

Last week we spoke about the advanced procedure which uses a strategy-driven approach to selecting a market segment. The technique, we said, consists of classifying markets as: natural, leading edge, key, linked, central, challenging, difficult, and encircled.

Sri Lanka’s Sept. quarter corporate earnings fall 6%

?Sri Lanka’s listed companies saw their total net profits sliding 6.2 percent year-on-year (yoy) to 47.7 billion in the September quarter, amid losses incurred by companies with larger market capitalizations, earnings update by an independent research arm said. 

Capital Alliance Finance rebrands as Colombo Trust Finance

?Capital Alliance Finance PLC, a finance company controlled by Cargills Bank Limited said, the name of the company had been changed to Colombo Trust Finance PLC.