Pan Asia Bank’s Rs.4bn debenture issue opens on September 23

Pan Asia Bank has seen a significant growth in its balance sheet recently. During the first half of 2015 (1H’15), our advances grew by over 13 percent. While the bulk of this growth was funded via deposits

DSI Premier Showroom in Bambalapitiya reopens after facelift

?Heralding the return of quality footwear to Bambalapitiya, the DSI Premier showroom at 513/515, Galle Road, Colombo 4, was re-opened with a new look and a multitude of designs and brands on the 14th of September. 

Dealers rewarded at LG-Abans Partners Get-Together 2015

LG-Abans Partners Get-Together 2015 was held at Hotel Galadari, Colombo on 4th September. This annual event is a red letter day in Abans calendar of annual events.

CEAT winners get trackside experience at Singapore F1 Grand Prix

?The adrenaline rush of Formula 1 racing at night will hit five lucky Sri Lankans who have won Grand Stand seats at the 2015 Singapore Grand Prix, plus air travel and accommodation in Singapore from CEAT, Sri Lanka’s highest-selling tyre brand.

ICRA assigns FCH [SL]A-/stable outlook

?ICRA Lanka Limited, a wholly-owned subsidiary of ICRA Ltd, a group company of Moody’s Investors Service, has assigned the issuer rating of [SL]A- with a stable outlook to First Capital Holdings PLC (FCH).

Community engagement project wins Silver prize at int’l competition

?A construction training and community engagement project in rural Sri Lanka won the Silver prize in the most significant international competition for sustainable design and construction. 

Edirisinghe & Co., Chartered Accounts joins Baker Tilly International

?Following the firm’s recent admission to the top 10 global accounting and business advisory network Baker Tilly International, Baker Tilly Edirisinghe & Co. will be expanding its multinational clientele and helping small and medium-sized companies in Sri Lanka.

National Chamber to hold session with  Swiss ambassador

?A session on ‘Bilateral Trade Between Sri Lanka and Switzerland’ with the Ambassador of Switzerland will be held on September 22, from 3:00 to 4:30 p.m., at the Chamber Auditorium, Colombo 10. 

Delhi proposes Indian investors’ forum in Colombo

Indian Finance and Corporate Affairs Minister Arun Jaitley had proposed an Indian investors’ forum in Colombo, sources close to Prime Minister Ranil Wickremesinghe said yesterday.

Laugfs scores multiple wins at CNCI Achiever Awards

?Laugfs clinched multiple awards for excellence at the recently held CNCI Achiever of Industrial Excellence Awards 2015 organized by the Ceylon National Chamber of Industries. 

CSE approves listing of BOC debt instruments

?The Colombo Stock Exchange (CSE) yesterday in principle granted approval to list the debt securities of state-owned Bank of Ceylon (BOC) amounting to Rs.8 billion.

New entrance for Cinnamon Grand Oak Room patrons

?Cinnamon Grand Colombo has added a new entry point for guests patronising the hotel’s grand ballroom (Oak Room) with the opening of a new lifestyle complex for the hotel’s associates.

Shares fall to one-week low

?REUTERS: Sri Lankan shares ended at one-week low yesterday, falling for a second straight day as investors turned cautious amid a weakening rupee and an upward trend in market interest rates.

Etihad and key equity partners complete platform financing transaction

?Etihad Airways, its airport services business and five of its equity partners have successfully completed an innovative new platform financing transaction, raising US $ 500 million on the international markets.

Sri Lanka’s Prime Minister Ranil Wickremesinghe (C) shakes hands with Indian President Pranab Mukher

Sri Lanka’s Prime Minister Ranil Wickremesinghe (C) shakes hands with Indian President Pranab Mukherjee as Wickremesinghe’s wife Maitree (R) looks on before their meeting at India’s presidential palace Rashtrapati Bhavan in New Delhi, India, yesterday.

Qatar Airways wins ‘Best Up In the Air’ Award at Future Travel Experience Global 2015

?Qatar Airways’ world-class in-flight experience has been awarded the ‘Best Up In the Air’ Experience Award during Future Travel Experience Global (FTEG) 2015. 

OfferHut.lk introduces location-based online shopping to Sri Lanka

?OfferHut.lk, a one stop offer platform in Sri Lanka and the main product of Extrogene Software Pvt. Ltd is now active. 

Dr. Harsha Cabral appointed to International Arbitration Court

At the World Council of the International Chamber of Commerce (ICC) held in Torino on 9th June 2015, Sri Lankan President’s Counsel Dr. Harsha Cabral was appointed a member of the International Court of Arbitration.   

Cloud choices matter in business

I bet you’ve had a very similar experience to the one I’m about to share. The other day I had a question about my car insurance that required me to speak with an agent. 

Prof. H.A. de S. Gunasekera Memorial Oration 2015

The Prof. H.A. de S. Gunasekera Memorial Oration 2015 will be held on Monday, 21st September 2015 at 4:00 p.m. at the Senate Room, University of Peradeniya. 

MTD Walkers selects SAP CPM to strengthen operations

?SAP SE announced that MTD Walkers PLC has selected SAP Commercial Project Management (SAP CPM) to strategically supplement its operations in the areas of construction, manufacturing and engineering. 

Malaysian biz delegation in town next week

?A Malaysian business delegation will be in the country on the 23rd to hold meetings with the Sri Lankan counterparts to strengthen business ties, both in trade and investment.

CA Sri Lanka officials meet Maldives Finance Minister

?Arjuna Herath, the President of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) recently paid a courtesy call on Abdulla Jihad, Minister of Finance of Maldives during an official visit to Malé. 

Pakistani delegation visits Biyagama Export Processing Zone

The Board of Investment of Sri Lanka hosted a delegation from The Federation of Pakistan Chambers of Commerce & Industry that included some of the leading industrialists in Pakistan and briefed them on the opportunities...

Wearable tech market bursting at the seams: survey

?AFP: The market for wearable tech, led by Apple Watch and a range of connected fitness gadgets, is exploding, a recent survey showed.

World’s largest graphics card manufacturer enters Sri Lanka

?Titantech (Pvt) Ltd, a distribution company in Sri Lanka announced their partnership with Palit Microsystems Inc, the largest graphics card manufacturer in the world to launch the latter’s full range of graphics cards for the Sri Lankan market. 

Sri Lanka’s rebased GDP grows at 6.7% in 2Q15

Sri Lanka’s gross domestic product (GDP) during the April-June quarter (2Q15) grew by 6.7 percent from the same quarter last year with all three pillars of the economy—agriculture, industry and services—performing better, the Census and Statistics Department (DCS) data showed.

New US $ 70mn Orion Towers to benefit IT/BPM sector

The St. Anthony’s group took another step in the development of Sri Lanka’s information technology/business process management (IT/BPM) sector, commencing the expansion plans of its US $ 70 million Orion Towers.

Census and Statistics Department releases rebased 2Q15 GDP data

?Department of Census and Statistics (DCS) released yesterday, the preliminary estimates of the current and constant annual Gross Domestic Product (GDP) for the second quarter (2Q) 2015 based on production approach following rebasing exercise undertaken by the Department.

​Rupee hits record low for fourth straight session

REUTERS: The Sri Lankan rupee ended 0.4 percent weaker yesterday, marking a record low for a fourth session in a row due to importer dollar demand, although some exporter conversions of dollars capped the fall, dealers said.