Kuchchaveli—Sri Lanka’s new tourism hotspot

?The national tourism body is developing Kuchchaveli as its new flagship project, according to the Sri Lanka Tourism Development Authority (SLTDA) Chairman.

JKH announces share split

?Premier blue-chip John Keells Holdings PLC (JKH) yesterday said its director board had resolved to increase the number of shares in issue of the company, subject to shareholder approval.

SL to follow Maldives with ‘open skies’ policy

Sri Lanka will be adopting the ‘open skies’ policy practised by the Maldives to develop tourism in the future, according to a Cabinet minister.

EAP Broadcasting in Rs.3bn debt issue

?EAP Broadcasting Company Limited PLC is to issue debentures worth Rs.3 billion and the Colombo Stock Exchange has granted the provisional approval to list them.

Customs chief resigns

?Jagath P. Wijeweera has resigned from his position as the Director General of Sri Lanka Customs. “The Customs Director General gave me his letter of resignation today,” Finance Minister Ravi Karunanayake said.

Quality and relevance of our HR a growing concern: Dinesh

?Dinesh Weerakkody is Chairman of the apex National Human Resource Development Council and an Advisor to the Prime Minster’s Policy Planning, youth affairs and Economic Affairs Ministry. 

Charismatic leadership style of Steve Jobs

?The word ‘charisma’ means  ‘gift’ or ‘divine favor’, referring to an innate and indescribable charm found in an ‘exclusive few’ that, when wielded, is a source of great power and influence over others. 

Hemas launches ‘Slingshot’ entrepreneur and inventor support initiative

?Hemas Holdings PLC launched its second Innovation Initiative focused on harnessing the innovation capability of talented entrepreneurs in line with the group’s core business areas of wellness, leisure and mobility. 

Pathfinder presents economic proposals to JVP General Secretary

?The Pathfinder Foundation (PF), which has completed developing a comprehensive economic policy reform road map ‘Charting The Way Forward: Prosperity For All’, commenced handing over its copies yesterday. 

Co-Energi to revise ‘Code of Practice for Energy Efficient Buildings’

?Sri Lanka Sustainable Energy Authority has entrusted Co-Energi (Pvt) Ltd the task of revising the ‘Code of Practice for Energy Efficient Buildings in Sri Lanka- 2008’. 

Sunshine Holdings posts Rs. 16 bn consolidated FY15 revenue

?Diversified conglomerate Sunshine Holdings PLC posted a consolidated revenue of Rs. 16.3 billion in FY15, an improvement of 11.1 percent year-on-year (YoY). 

HNB Assurance wins first ever Inter-Insurance Quiz competition

?HNB Assurance won first place in the inaugural Inter-Insurance team quiz, which was held at Excel World recently. 

ComBank launches ‘Divisaru’ savings account for micro businesses

?A special Savings Account designed to support micro entrepreneurs and promote financial inclusivity to this segment has been launched by the Commercial Bank of Ceylon, Sri Lanka’s largest private bank.

Pan Asia Bank’s BBB+ rating re-affirmed, outlook stable

?The local unit of the world’s leading credit rating agency Standard & Poor’s (S&P), Lanka Rating Agency (LRA) this week re-affirmed its rating on Pan Asia Banking Corporation PLC’s (PABC) long and short-term financial institution ratings at BBB+ and P2 respectively. 

Continental Insurance partners HNB in payee partnership

?Continental Insurance Lanka Ltd (CILL) joined Hatton National Bank (HNB) in a payee partnership that gives CILL customers the convenience of carrying out insurance payments through HNB’s network of Electronic Digital Channels and its extensive branch network of 249 branches across the Island.

Five Aitken Spence Hotels enter TripAdvisor Hall of Fame

?Five Aitken Spence properties from Sri Lanka and the Maldives have entered the prestigious TripAdvisor Hall of Fame having been recognized for their consistent high performance in customer reviews.

Singapore Airlines unveils new Premium Economy Class experience

?Singapore Airlines unveiled its new Premium Economy Class seats and the in-flight offerings that customers will enjoy when the new cabin class enters service in August.

SriLankan opens Anuradhapura office

?SriLankan Airlines in a bid to increase its presence in all parts of the country opened its latest passenger sales (PSA) office in Anuradhapura recently. 

Alhambra Hotels appoints new Executive Chairman and MD

?Alhambra Hotels Limited appoints veteran hoteliers Imthiaz Cader as Managing Director and Fahmy Cader as Executive Chairman.

Qatar Airways reveals Scotland and Qatar to compete for Qatar Airways Cup

Qatar Airways announced that Scotland and Qatar will compete for the Qatar Airways Cup at Easter Road Stadium, Edinburgh on Friday, June 5, 2015.

Cathay Pacific cabin crew threaten August strike

?REUTERS: The Cathay Pacific Airways flight attendants’ union said it will move forward with plans for a strike in August, accusing the company’s management of failing to negotiate pay and benefits.

CAL shares key insights on global markets

Capital Alliance, Sri Lanka’s leading full service investment bank has received significant recognition as a leader in Sri Lanka’s finance and investment arena. Providing investors with an in-depth overview, Purasisi Jinadasa, Chief Strategy Officer, shares his insights on CAL’s outlook on global markets. 

CBSL-RBI Swap: Support in time of need

?The Reserve Bank of India (RBI) has stepped in to provide timely support to Sri Lanka when its external finances were deteriorating and the currency was under pressure. 

Ten tips for successful long-term investors

?While it may be true that in the stock market there is no rule without an exception, there are some principles that are tough to dispute. Let’s review 10 general principles to help investors get a better grasp of how to approach the market from a long-term view.

High insurance premiums slowing down electric car sales

Insurance premiums on electric cars in Sri Lanka are significantly higher than those of traditional vehicles, owing to spare parts non availability and other technological issues.  

Falling int’l LPG prices push Laugfs Gas 4Q net up

?The diversified conglomerate, Laugfs Gas PLC group (Laugfs) posted a net profit of Rs.369 million for the quarter ended March 31, 2015 (4Q’15) against a net profit of Rs.39.8 million posted during the corresponding period last year. 

Project delays hurt Access 4Q net profits

?The diversified group, Access Engineering PLC (Access), saw its net profit for the quarter ended March 31, 2014 (4Q15) falling by 20 percent year-on-year (yoy) to Rs.675.7 million, the interim financials released to the Colombo Stock Exchange showed. 

Sri Lanka counts on German FDIs to stimulate growth: Mangala

?The current regime is aggressively seeking foreign direct investments (FDIs) from Germany to create sustainable growth. “Sri Lanka has long been a paradise for German tourists, and we are now making it a paradise for German investors,...

Tea exports dip further due to Russian crisis

Ceylon Tea exports has declined further in April due to the Russian economic crisis, according to Forbes & Walker Tea Brokers. Exports for April declined to 22.9 million kilogrammes from 23.3 million kilogrammes year-on-year (yoy), while receipts fell to Rs. 13.5 billion from Rs. 15.2 billion yoy.

Inflationary trends to determine further rate cuts

?Central Bank Governor Arjuna Mahendran says further cuts in policy rates will depend on how the country’s inflation behaves in the coming months.