Baur & Co appoints new Finance Director

?The Board of A. Baur & Co. (Pvt.) Ltd. has appointed Pavithra Samarasinghe as the new Director Finance with effect from 1st January 2016. 

SLIM offers Asia’s number one marketing status - CPM

?Sri Lanka Institute of Marketing (SLIM) commenced the January intake of the Certified Professional Marketer (Asia) programme recently. 

SLIM produces skilled sales professionals at HNB Assurance

Sri Lanka Institute of Marketing (SLIM) awarded certificates to a batch of sales professionals from HNBA who successfully completed the Diploma in Professional Selling (DPS) at the annual convocation held at Hotel Samudra, SLTB auditorium recently.

Kelani Cables rewards distributors at annual event

?Kelani Cables held its annual Distributor Convention at Ananthaya Hotel in Chilaw with the participation of Mahinda Saranapala, CEO, Kelani Cables PLC, Anil Munasinghe, General Manager Marketing, Hemamala Karunasekera, Chief Finance controller, and managers of all departments.

Employee training essential for beating competition

Businesses must compete in the global marketplace, which is highly dominated by rapidly changing consumer needs. As business strategies that worked out yesterday, will not be successful tomorrow...

The future of marketing

In the ever-changing world of marketing, attention is always focused on identifying the ‘next big thing’. Striving to improve the brand and positioning of their clients, marketers are constantly on the lookout for new trends, shifts in customer tastes, and better ways to communicate their messages.

Chitrangani Gunaratne appointed member of CIM trustee board

?Chitrangani Herat Gunaratne has been recently appointed as a member of the Board of Trustees for the Chartered Institute of Marketing (CIM).

Global growth to be ‘disappointing and patchy’ in 2016: IMF chief

?AFP: Global economic growth will be “disappointing and patchy” in 2016, the head of the International Monetary Fund, Christine Lagarde, wrote in an article published in the German business daily Handelsblatt on Wednesday.

Sri Lanka Tourism unveils strategic marketing plan for 2016

Amid criticism over the absence of a proper marketing and promotional plan, and the lack of funds with the transfer of moneys collected from tourism stakeholders for promotional work by way of taxes to a consolidated fund operating under the Treasury...

Brown & Company sets up high-tech Green tea factory at Norwood Estate

Norwood Estate, belonging to Bogawantalawa Plantations PLC, has traditionally been in the business of manufacturing Black tea incorporating orthodox methods of manufacture. 

Access Engineering recognized at National Awards for Construction Excellence

Access Engineering PLC; one of the foremost Engineering Companies in Sri Lanka was recognized with an Excellence Award for Construction Performance at the most coveted National Awards for Construction Excellence - 2015, held at BMICH on 23rd December 2015.

CB begins monetary tightening; increases SRR by 150bps

?Central Bank yesterday kicked off the monetary tightening process by raising the Statutory Reserve Ratio (SRR) by 150 basis points (bps) to 7.5 percent, though the bank kept the policy rates unchanged.

Sanasa Bank’s debentures draw applications over Rs.4bn

?Micro finance lender Sanasa Development Bank PLC said it had drawn applications for over Rs.4 billion, for its listed debenture issue which officially opened on Monday.

Grim New Year for plantation sector employers 

Plantation sector employers are likely to enter the New Year with a dark cloud hovering over them, as they are likely to crack under the repeated pressure of having to increase wages, which is well above their affordable limits.

Admiring national arts and crafts

?President Maithripala Sirisena evaluates an award winning mask of the demon Mahasona, used in traditional healing exorcism rituals, during the National Craft Council’s Shilpa Awards held at Ape Gama in Battaramulla recently. 

Global Salam partners with Asset Link to introduce “Salam Contracts”

Global Salam in giving priority to agricultural investments has developed a unique “forward sale” (Salam Contracts) model to promote the growth of agricultural exports by an alternative method to farmers to sell their organic goods for specific international markets in defined quantities at prearranged prices. 

Jet Airways to launch daily flights to Amsterdam from Mumbai, Delhi and Toronto

Jet Airways, India’s premier international airline, has announced the launch of daily non-stop services between India and Amsterdam, its new European gateway which is ideally located for convenient onward connections. 

Port City’s public area gets wider under EIA plan

?The new Environmental Impact Assessment (EIA) plan presented by the government for the Port City shows an increased public area. 

China says will step up FTA negotiation with SL next year

?Chinese government said it was looking to step up negotiations with Sri Lanka with regards to the proposed Free Trade Agreement (FTA) between the two countries. 

Kamil appointed NEDA Chief

Former Mayor of Colombo, Omar Kamil has been appointed as Chairman of National Enterprise Development Authority (NEDA), which functions under the ministry of Industry and Commerce. 

Ruble sinks to new 2015 low over oil price plunge

?AFP: Russia’s battered ruble yesterday continued its slide on the back of low oil prices, reaching a new 2015 low against the dollar and dropping to below 80 against the euro.

Central Bank may raise rates by 25 bps today: Reuters poll

?Sri Lanka’s Central Bank is expected to raise interest rates by 25 basis points from record lows at its policy meeting today, a Reuters poll found, a move that could relieve pressure on the fragile rupee. 

End of the road for high speed internet in Sri Lanka?

In a bizarre turn of events, the newly appointed Director General of the Telecommunications Regulatory Commission (TRC), Sunil S. Sirisena has decided to discontinue the National Broadband Initiative (NBI), which ensured high speed broadband internet access to citizens at affordable prices, Mirror Business learns.

Saudi plans spending cuts, reforms to shrink huge budget deficit

REUTERS: Saudi Arabia, its finances hit by low oil prices, announced plans to shrink a record state budget deficit with spending cuts, reforms to energy subsidies and a drive to raise revenues from taxes and privatisation.

Abans Finance in Rs.185 mn rights issue

Abans Finance PLC will be opting for a rights issue to raise Rs.185 million for expansionary activities, a filing at the Colombo Stock Exchange said.

Central Bank rejects all bids at bond auction

?Central Bank yesterday rejected all bids at the treasury bond auctions, the Public Debt Department said. The auction received bids amounting to Rs.12.4 billion for Rs.5 billion worth of 12 years and 08 months bonds offered with a coupon rate of 11.50 percent. 

Sri Lanka to sign ETCA framework agreement with India by February

?Sri Lanka expects to sign the framework agreement for the broader Economic and Technology Cooperation Agreement (ETCA) with India by February 2016 and ETCA by mid 2016, a press statement by the Development Strategies and International Trade Ministry said.

‘Trail’ to resume next year to build Southern cancer hospital

Trail, Sri Lanka’s largest ever crowd- funded charitable initiative that saw the raising of US$ 2.2 milllion in 2011 for the construction of the nation’s 2nd specialized cancer hospital in Jaffna...

CommBank unveils new initiative to sharpen students’ math & analytical skills

?A ground-breaking new initiative to stimulate and develop the mathematical and analytical skills of school children in Sri Lanka has been launched by the Commercial Bank of Ceylon as a project aligned with the Bank’s education-centric corporate social responsibility agenda.

Fashion Bug offers scholar-ships 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,