Decades of system damage making tax reforms near impossible: IMF

Tax reforms in Sri Lanka will be very hard to achieve, as decades of damage have pushed the system almost beyond repair, the International Monetary Fund (IMF) Resident Representative told a recent forum in Colombo. 

HNB partners with Emirates NBD for 60-second remittances

Hatton National Bank (HNB) has entered into a tie up with Emirates NBD in the UAE for the DirectRemit 60 seconds remittance platform. With this partnership...

Merchant Bank wins sector Gold at Annual Report Awards again

?Merchant Bank of Sri Lanka & Finance PLC (MBSL) won the coveted Gold award for the Specialised Leasing Company sector at the recently concluded Annual Report Awards organised by the Institute of Chartered Accountants of Sri Lanka. 

UNP’s bitter past experiences seem haunting new govt.’s policy direction

?The contradictions and the lack of a stronger policy direction in the budget may be due to United National Party (UNP) affiliated think tanks being afraid of a repeat performance of 2004.

Central Bank holds 8th International Research Conference

?The eighth International Research Conference of the Central Bank of Sri Lanka was held recently at the John Exter International Conference Hall of the Central Bank.

Research house gives gloomy outlook for economy in 2016

Hot on the heels of the International Monetary Fund (IMF) warning over an uncertain Sri Lankan economy with its risks largely tilted towards downside...

SDB 3Q operating profit before VAT on FS surpasses Rs.1bn with 78% YoY growth

Sanasa Development Bank PLC (SDB) has succeeded in posting a 59 percent growth in profit after tax (PAT) to Rs.166.1 million for the quarter ended September 30, 2015. As a result, the bank’s PAT for nine months ended September 30, 2015...

Leapset Engineering rebrands as CAKE LABS

After having changed its name in the US from Leapset to CAKE, the Silicon Valley firm’s engineering arm, Leapset Engineering, has been renamed and branded as CAKE LABS. CAKE LABS is one of the fastest growing technology...

Capital Trust Residencies launches luxury apartments

Entering into the financial services industry as a stock broking firm in 1991, today, Capital Trust Group of Companies has expanded into many areas of businesses including margin trading, 

PM proposes to set up Political Council for consensus hours after fistfight in parliament

?An innovative Political Council should be established to promote policy consensus and Parliamentary harmony, Prime Minister Ranil Wickremesinghe said, delivering the Annual Sujata Jayawardena Memorial Oration 2015 last Friday.

Astoria construction on target to complete by 2017

Sri Lanka’s newest super-luxury condominium project, the Astoria, is well on target to reach completion by 2017 with construction already having crossed the third floor according to developers, AVIC International. 

Cambio celebrates 10 years in Sri Lanka

?On  November 24, Cambio organized a grand celebration at Ramada Hotel, Colombo, in honor of the company’s 10th anniversary in Sri Lanka.  The guest list included some of the most notable figures in Sri Lanka’s IT industry. 

Informatics’ solution at DRP wins international award

?The Department of Person Registration (DRP) took home the Radiant Launch Award at the first Radiant eID Awards ceremony, held on 1st  December at Pan Pacific Sonargaon in Dhaka.

Elephant House hot dogs now at your door step

?The legendary story of the well renowned celebrity Elephant House Hot Dog is built upon an extraordinary sausage and irresistible sauce that makes their patrons hyper and indulging when they even think of it. 

Large enterprises struggle to execute biz transformation: Oracle study

Today, continual business transformation is crucial for companies to stay ahead of emerging players and maintain a competitive edge. 

Samson Rubber Products bags Silver award

?Samson Rubber Products (Pvt) Ltd., a subsidiary of DSI Samson Group clinched the Silver Award (Runner – Up) for the Manufacturing Non Traditional  Sector at the National Business Excellence Awards 2015 (NBEA 2015 ) at Hilton Colombo organized by the NCCSL recently. 

EAGLE LOGISTICS OPENS SRI LANKA’S FIRST HBL CENTER IN FORT

Supply chain logistics company Eagle Logistics Colombo opens 01st HBL centre in Fort last Friday. Eagle Logistics will be the first logistics company to open an office only for Delivery Orders in Colombo. 

Ananda Sirisena & Company successfully incorporates over 250 companies

Ananda Sirisena & Company, a registered corporate secretaries and incorporator recently concluded successfully incorporating its 250th company in to the local business fraternity.

Singer launches Sony Xperia Z5 series in Sri Lanka

?Singer Sri Lanka PLC together with Sony Representative Office Sri Lanka introduced the flagship Sony Xperia Z5, Xperia Z5 Compact smartphones and the 4K smartphone XperiaZ5 Premiumto the local market.

Pelwatte Dairy brings fresh Sri Lankan goodness this holiday season

Pelwatte Dairy Industries Ltd, a leding manufacturer of locally produced dairy products is all set to offer discerning consumers fresh Sri Lankan goodness this holiday season.

ComBank honours long-serving employees

The Commercial Bank of Ceylon recently felicitated 88 employees who have completed 25 years of service at the 2015 edition of the Bank’s annual Long Service Awards gala at the Cinnamon Grand, Colombo.

EU envoy opens public employment services centre in Batticaloa

?The third of four Public Employment Services (PES) Centres being launched under the EU Support for District Development Programme (EU-SDDP) was declared open at Arasady, Batticaloa by David Daly, Ambassador of European Union to Sri Lanka and the Maldives recently. 

TAL Group excels at Campaign Asia’s Agency of the Year Awards

A clear winner at this year’s Campaign Asia AOTY Awards 2015 in Mumbai was the TAL Group, going home as the most awarded Sri Lankan Agency Group of the night. 

Atlas MD says people, the strength behind his company’s success

?When Karunaarachchilage Nanda Hemalatha started work at the Ceylon Pencil Co. back in 1960, it was a different world. 

Sri Lanka’s HR challenge; not enough of the right skills, and skilled people

Education and skills attainment in Sri Lanka, which in the early 60s was better than that of countries like Singapore, Malaysia and South Korea, has in the last 20 years fallen behind, undermining the country’s growth prospects.

Aitken Spence Travels hosts top Egyptian travel agents

?Top travel agents from Egypt were hosted in Sri Lanka by Aitken Spence Travels for a five-day educational tour in collaboration with the Sri Lankan Embassy in Cairo and airline partner Emirates Airlines recently. 

SAPPTA urges govt. to do away with export cess

The apex industry body for spices yesterday commended the government for its move to eliminate export cess, but expressed fresh concerns on tax likely being re-imposed given that the proposed national budget has undergone a number of changes since its announcement.

New appointments for Rubber Development Officers

For the first time in the history of Rubber Development Department, 83 Rubber Development Officers received new appointments recently. The ceremony was held at the National Institute of Plantation Management, Athurugiriya (NIPM). Minister of Plantation Industries 

Cuba economy boosted by eased US sanctions: Moody’s

AFP - Moody’s raised its forecast for Cuban economic growth Thursday, saying the Caribbean island is benefitting from the loosened US embargo and a surge 

Pathfinder Foundation launches Centre for Indo-Lanka Initiatives with ‘Colombo Dialogue’

The High Commissioner of India to Sri Lanka, Y. K. Sinha declared open the Pathfinder Foundation’s Centre for Indo-Lanka Initiatives (CILI) recently at the Head Office of the