GSP+ likely to balance out TPP effects: Rishad

Sri Lanka’s apparel sector is assured that potential effects, if any, from the biggest global trade agreement in two decades are likely to be balanced out by the return of GSP Plus’

Tapie affair: Lagarde takes hit but support holds at IMF

AFP - Ordered to stand trial in France, IMF chief Christine Lagarde is counting on the broad support and high esteem she enjoys at the global institution as she faces a tough legal ordeal at home.

Rupee edges down on importer dollar demand

REUTERS - The Sri Lankan rupee fell to near its record low yesterday due to importer dollar demand, with currency dealers expecting the currency to weaken further in 2016 due to lower reserves and higher imports.

Oil heads for third straight weekly loss as supply weighs

REUTERS: Oil prices edged higher yesterday as investors closed positions ahead of the end of the year though crude was still heading for a third weekly loss in a row, its longest losing streak in four months.

StanChart may see white knight takeover on painful recovery: CLSA

UK bank Standard Chartered (StanChart) could be acquired by a white knight as its recovery could prove to be “challenging”, according to broker CLSA, which upgraded shares of the Asia-focused lender on that possibility.

Russia boosts oil sales in Asia, even as OPEC battles to win customers

REUTERS: Russian oil producers have strengthened their position in Asia by supplying nearly a quarter more crude this year, shifting the balance of power in one of the few bright spots in the global market and blunting OPEC’s high-profile drive to win customers.

Battle for young customers heats up in HSBC’s Asia stronghold

REUTERS: Banks in Hong Kong are intensifying the battle for young customers key to their future retail profit, offering online perks and mobile banking products in a bid to erode the dominance of HSBC in its Asian stronghold.

Apple to launch Apple Pay in China, take on Alibaba, Tencent

REUTERS: Apple Inc said it will launch its payment service in China as soon as 2016, pitting it against entrenched Chinese rivals Alibaba Group Holding and Tencent Holdings.

Rotary holds Grand Banquet to honour first Lankan Head

Hilton Colombo was the venue on Sunday of a special gathering of the elite of Sri Lankan society as Rotary Sri Lanka honoured K.R. Ravindran as he visited the country as the Rotary International President - the first Sri Lankan to hold this prestigious office.

AIA unveils a smashing wall mural

If passing through Vauxhall Street in the evening, you are bound to see the neighbourhood kids playing some serious street cricket. Armed with not much other than undeterred grit, impressive skill and striking confidence, these kids firmly believe they will make the Sri Lanka national team someday.

KPMG’s Aasif wins 2015 CA Student Best Speaker Contest 1st place

Aasif Moujood of KPMG’s Management Consultancy Division, won the first place whilst Farhath Sulaiman of KPMG’s Audit Division, won the second runner-up place and Gayashi Amarasekara, part of KPMG’s Audit Division, was selected within the top five finalists at CA Student Best Speaker Contest 2015 held recently.

Atlas fosters creativity in young minds

Atlas, the market leader in school stationery, in having at heart the mission of inspiring and inculcating creativity in children, concluded yet another engaging weeklong event for children and families that visited the National Zoological Gardens.

Pan Asia Bank holds evening of Christmas Carols

Pan Asia Bank recently organised an evening of Christmas Carols to celebrate the spirit of the season. At this event, which was held at 

BOC to offer 2000 Ran Kekulu scholarships

Sri Lanka’s No.1 children’s savings account Bank of Ceylon (BOC) Ran Kekulu offers 2000 scholarships each worth of Rs.10,000 for 2015 grade five scholarship achievers for the 14th time. 

Sri Lanka Junior Open Golf Championship 2015

15 year old Januka Dilshan played brilliant golf in tough conditions to take the coveted national title at the Sri Lanka Junior Open Golf Championship 2015, concluded at the Royal Colombo Golf Club.

Fed raises rate for first time in nearly a decade

AFP: The Federal Reserve announced Wednesday its first interest rate increase in more than nine years in a landmark move signaling the US has finally moved beyond the 2008 crisis.

Weary plantations urge trade unions to be reasonable

Planters Association of Ceylon (PA) which represents Regional Plantation Companies (RPCs) urged the trade unions yesterday for a reasonable approach to the ongoing plantation sector daily wage negotiations

Vehicle registration drive continues into November on pre-budget factors

Vehicle registration momentum continued into the month of November largely due to an expected surge prior to a budget announcement and the relaxation of Loan to Value (LTV) rule, a report compiled by equity brokerage JB Securities said.

Govt. yet to figure out ideal tax formula on imported vehicles

Although a greater effort has been made by the authorities to expand tax collection to avoid a debt default in the medium term, the head of a Colombo-based research house/equity brokerage said governments are yet to perfect the formula of optimally taxing imported vehicles.

Sri Lanka to sign MoU with Turkey’s Exim Bank for US $ 350 mn credit facility

Sri Lanka is to sign a Memorandum of Understanding (MoU) with Turkey’s Export-Import (Exim) Bank for a US $ 350 mn credit facility. The Cabinet has given its approval to Finance Minister Ravi Karunanayake to proceed with it.

ADB provides US$ 200 mn loan for integrated road development programme

Asian Development Bank (ADB) and the Government of Sri Lanka singed two loan agreements for the implementation of the Integrated Road Investment Program which was designed to ensure rural road connectivity between selected rural hubs and the adjacent economic centers of Sri Lanka.

Singapore Airlines to add 6th daily Bangkok flight

Singapore Airlines will add a sixth daily flight to Bangkok in March, up from five daily flights. As part of the Northern Summer schedule (March 27, 2016 – October 29, 2016), there will also be an increase in frequency to Colombo in Sri Lanka and Milan in Italy.

Emirates to deploy A380 on more routes in 2016

Emirates has announced it will deploy its highly-popular A380 to even more destinations across its network in 2016 – reinforcing its commitment to provide an enhanced onboard experience for its passengers.

Malindo Air starts direct flights to Colombo today

Malindo Air, a full-service carrier with main hubs at Kuala Lumpur International Airport 2 (KLIA2), will start direct flights to Colombo from today.

Remco Althuis appointed as Etihad Vice President Europe

?Etihad Airways, the national airline of the UAE, has appointed Remco Althuis to the position of Vice President - Europe.

George Steuart Travels wins Gold for third consecutive year

?George Steuart Travels was recognized with a Gold award for the ‘Best Passenger Sales’ at the Annual Passenger Sales Award Ceremony that was held in Colombo recently.

Qatar Airways launches new Doha-Durban route

?Qatar Airways launched new services between Doha and Durban yesterday, offering passengers the opportunity to experience another idyllic subtropical destination.

Turning lessons of life into a thriving business

There are many things in life that shape us as we go along – some are lessons that will have a long-lasting impact on us and some will change us for always and others will give us insights into many aspects.

Upfront incentives: Carrot for migrants and cash for others

Incentive payments to attract low-skilled migrants are rare. But in the case of Sri Lankan female domestic workers, employers of several Middle Eastern (ME) countries such as Saudi Arabia (SA),...

The growing importance of Environmental Social and Governance (ESG) for businesses

Following is the speech delivered by Standard Chartered Global Head of Sustainability Mark Devadason at the Ceylon Chamber of Commerce Corporate Citizen Awards Annual Dinner in Colombo recently.