Higher disposable income boosts CTC September profits

A significant portion of the higher disposable income generated by the measures in the budgets presented by the new regime so far this year appears to have gone for the consumption of tobacco products as the country’s tobacco monopol

HDFC to raise Rs.4 bn via debenture issue

?The Housing Development Finance Corporation Bank of Sri Lanka (HDFC) is to raise Rs.4 billion from a listed debenture issue, the company said in a stock exchange filing. 

Ceramic manufacturing industry higher profits clouded by policy uncertainty

Despite its positive performance for the latest quarter, the country’s ceramic manufacturing industry is in for an uncertain future due to policy considerations.

AIA 3Q net hit by higher general insurance claims but life biz up

The Sri Lankan unit of the third most valuable Asia-based insurer, AIA Insurance Lanka PLC (AIA) saw its net profits for the quarter ended September 30

Super Gains Tax ends; but payments compulsory this year

Companies which were liable to pay the morally ambiguous Super Gain Tax (SGT) are still required to pay this year, despite Prime Minister Ranil Wickremesinghe called to discontinue the tax during his medium-term economic policy speech last week.

Private sector expresses cautious optimism over PM’s policy statement

?The business community let out a sigh of relief last Thursday having heard Prime Minister Ranil Wickremesinghe spell out the much-awaited policy framework for the country’s ailing economy.

Amex offers 30% savings at Jetwing Hotels

Nations Trust Bank (NTB) has introduced yet another exclusive experience for its American Express (Amex) cardmembers, offering a 30 percent saving at 15 Jetwing hotels and boutique hotels this festive season.

NDB marks presence in Chenkalady

NDB extended its footprint in the Eastern region of the country with the opening of the 91st branch in Chenkaladythe town of the Batticaloa  district recently. 

People’s Bank unveils MTI-enabled strategic plan for future growth

The management of People’s Bank recently presented its 5-year strategic plan for future growth to over 1000 head office and branch network professionals, from different  levels of the organization. 

Cargills Bank reaches out with 8 more branches

Cargills Bank opened in Matara, starting on its new expansion drive with its first branch outside Colombo. 

Sri Lankan banks in joint initiative to promote sustainable finance

The Sri Lankan banking industry, through their umbrella body the Sri Lanka Banks Association (SLBA), during a CEO roundtable meeting recently, approved a move forward to create a joint initiative that promotes best practice in sustainable finance. 

Comtrust Equity Fund up 9.6% in 1H16, outperforms ASPI

Comtrust Equity Fund, a balanced fund investing in both equity and fixed income, rose 9.6 percent for the six months ended 30 September 2015 (1H16), recording an over performance of 6.2 percent vs.

Secret of business success lies in seeing competitors differently – in its different shades

When envisioning and developing your business, you need to focus on both short- and long-term goals.

Leaders vs. leadership

HR Guru Professor Dave Ulrich, Rensis Likert Professor at the Ross School of Business, said in this exclusive interview that an individual leader matters, but an organisation’s leadership matters very much more over time.

Dhammika mesmerises with ‘Service Mantras’

Dhammika Kalapuge’s latest programme ‘Service Mantras’, which was launched to the public earlier this year, was repeated recently at The Kingsbury, Colombo. 

Blue Mountain launches new corporate communications campaign

The Blue Mountain group recently launched its new corporate communications campaign, as part of its long-term strategic plan to uplift the company’s corporate brand and entire portfolio. 

Nugawela to speak on archetyping at Brussels International Leadership Symposium on Ethics

Sri Lankan brand development consultant Michel Nugawela has been invited to address the upcoming International Leadership Symposium on Ethics in Business to be held on November 21, 2015, at the European Parliament in Brussels. 

Hutch launches SmartShare data service

Hutch, one of Sri Lanka’s fastest growing 3G networks, introduced “Hutch SmartShare”, a breakthrough innovation that allows Hutch subscribers to maintain just one common data balance for all their  smart devices. 

Christmas Gifts Festival at Abans will save you so much this year

Every year around this time Abans, the market leader in Sri Lanka for the world’s best brands of home appliances, launch their eagerly awaited Christmas Sale. 

All Ceylon Bharatha Association holds 45th AGM

The 45th Annual General Meeting of the All Ceylon Bharatha Association was held in their own premises at Brassfounder’s Street, Colombo 11 recently in the presence of members.

Sari Connection connects communities through recycled saris

Sari Connection – a subsidiary under PARCIC has a unique, carefully handcrafted product range made out of upcycled saris. Meeting with aspirations of seamstresses from marginalised communities such as Jaffna and Mullaitivu,...

Admo Steel awarded Rs.100 mn Ashok Leyland vehicle yard project

Admo Steel Building and Construction Division of  Vinseth Engineering Pvt. Ltd., was recently awarded a landmark project contract worth Rs.100 million by Lanka Ashok Leyland, for construction of its new Vehicle Yard (100,000 sq. ft.) at the Panagoda Industrial Zone. 

ComBank launches Green Development Loans to support sustainability agenda

The Commercial Bank of Ceylon has announced the launch of Green Development Loans, throwing its weight behind efforts by businesses in Sri Lanka to make their operations more eco-friendly. 

Coconut Water as energy drink

Plantation Industries Minister Navin Dissanayake opened a new production plant of Silver Mills in Giriulla that produces coconut water as packeted energy drink for the export market.

Cabinet approves proposal to allocate Rs. 1 bn to purchase auction tea

The Cabinet of Ministers yesterday approved a proposal made by Plantation Industries Minister Naveen Dissanayake to allocate Rs. 1 billion to purchase 1kg of quality tea for Rs. 430, from the Tea Board auction, in order to stabalise tea prices. 

Govt. should invest sufficiently to build HR capacity in public sector: Dinesh Weerakkody

Chairman of National Human Resource Development Council, Dinesh Weerakkody speaking at the Depart of Pensions Public forum yesterday said the government should invest sufficiently to build HR capacity in the public sector, because it is the public service that helps the government of the day to develop and deliver its policies as effectively as possible. 

China to restart IPOs as market stabilises: Xinhua

AFP - China will restart initial public offerings, state-run media reported yesterday, after suspending them in July as part of a rescue package to rein in a rout that wiped trillions of dollars from market capitalisations.

YBSL launches ‘Y CLUB’ to connect young entrepreneurs

The Youth Business Sri Lanka, an arm of the Ceylon Chamber of Commerce, recently launched the ‘Y CLUB’, providing young entrepreneurs a platform to connect, network, share ideas and prosper together.

Rupee tad weaker on importer dlr demand; stocks up

REUTERS - The Sri Lankan rupee edged down yesterday and traded at a record low due to importer dollar demand, while investors were trying to gauge the prime minister’s economic policy statement, dealers said.

Japan, US lead economic rule-making under TPP: Japan PM

AFP - Prime Minister Shinzo Abe yesterday hailed a huge Pacific Rim free-trade deal, saying it showcased a bid by Japan and the United States to set rules for the global economy.