Higher impairment charges caps NTB’s 1Q growth

The net profit of Nations Trust Bank PLC (NTB),..

Seylan Bank 1Q net profit up 26%

Seylan Bank PLC saw its net profit for the March quarter (1Q15) increasing 26 percent...

AIA Lanka reports Rs.2mn net loss in 1Q15

AIA Insurance Lanka PLC, the local unit of the Hong Kong stock exchange-listed Asian life insurance giant,..

Cargills Bank 1Q net loss exceeds Rs.70mn

The banking arm of the Cargills group, Cargills Bank Limited (CBL),...

SLT launches Sri Lanka’s first corporate-powered technological campus

Sri Lanka Telecom PLC (SLT) intends to boost the nation’s technological education sector....

FITIS Software Chapter President defines ambitious plans for industry

Ambitious plans are now on the cards to develop the Sri Lanka Association for the Software Industry (SLASI),...

Virtusa 4Q revenue up 13% yoy to US$126 mn

Business consulting and IT outsourcing company,...

IronOne partners with Bangladesh’s Robi on paperless meetings

IronOne Technologies of Sri Lanka has partnered with Robi Axiata Limited,...

Telecom app developers gear for ‘TADHack 2015’

It is time once again for the global TADHack, the annual meeting place for telecom application...

HNB 1Q net profit up 75% to Rs.1.91bn

Hatton National Bank PLC (HNB), the second biggest private bank in the country with an asset base of Rs.625 billion,...

ComBank posts Rs.2.5bn net profit in 1Q

Commercial Bank of Ceylon PLC (ComBank), Sri Lanka’s largest private bank in terms of assets,...

Dialog 1Q net profit up 56% despite tax snags

Dialog Axiata PLC, the local unit of Malaysia’s Axiata Group,...

Clarks bringing comfort and class from London

Spanning a history of nearly 200 years, Clarks shoes have become synonymous with quality, comfort and class. Bringing the best of Britain and a very unique heritage in shoe design, Clarks has delighted consumers since inception, and very few the world over are unaware of the brand. Premium quality footwear that blends British traditional craft and innovative technology distinguishes and sets Clarks apart. 

Hemas to use rights money to expand healthcare, personal care businesses

Hemas Holdings PLC said yesterday the Rs.4.1 billion rights issue proceeds will be utilized...

CB ready to repay GK depositors if court cases dropped: Ravi K

The Central Bank (CB) will be repaying the 7,000 depositors of the Ceylinco group’s Golden Key...

New IPS study explores taxation impact on SMEs

?Tackling the twin challenge of providing a concessionary tax regime for Small and Medium Enterprises (SMEs) while aiming to expand the tax base would require a better policy formulation, argues a new study by the Institute of Policy Studies of Sri Lanka (IPS). 

DFCC retains its title as Mercantile Service Basketball Champions

The DFCC Group was recently crowned as the Mercantile Service Basketball Champions at the Mercantile Knock-out Tournament. The finals were attended by basketball fans, participating banks and staff from several mercantile organizations. The DFCC Group team members tussled their way into the final and were adjudged the champions of the tournament after a thrilling game against the Nations Trust Bank (NTB) team. 

Jayatissa appointed to Monetary Board

?Economist R.A. Jayatissa has been appointed as a member of Central Bank of Sri Lanka’s  Monetary Board with effect from April 10, 2015 by President Maithripala Sirisena. 

Nestlé Lanka 1Q revenue up 7% to Rs.9.2 bn

?Nestlé Lanka PLC delivered a revenue of Rs. 9.2 billion with a YoY growth of 7.3 percent for the first quarter ending 31 March 2015, despite a very challenging and volatile environment. The company posted a profit after tax of Rs. 1.2 billion. 

OCH III construction to begin shortly: Minister

?The work on the third phase of the Outer Circular Highway (OCH III) between Kadawatha and Kerawalapitiya will commence within the next couple of weeks, Highways and Investment Promotion Minister Kabir Hashim said.

Euromoney plans int’l investor conference in Colombo

?Leading business and finance magazine Euromoney is planning an international investor conference in Colombo this September, Sri Lanka’s Industry and Commerce Ministry said in a media communiqué yesterday. 

Chambers hail Finance Ministry initiative aimed at improving Doing Business ranking

?A joint business chamber statement yesterday welcomed the timely initiative taken by the Finance Ministry to engage in a series of discussions with the public institutions and private sector to address the issues...

Growth euphoria misled all: Experts

Sri Lanka has been misled by the rate of economic growth and has been conditioned against the private sector, according to a reputed accountant in the country. 

High-powered Qingdao delegation to arrive in Sri Lanka on May 15

?Sri Lanka is set to host a high-powered business delegation from Qingdao city of China on May 15, 2015.  The Sri Lanka-China Business Council (SLCHBC) will facilitate the business and networking event

Developing people

?We, as business people, know that the most valuable asset of our business is none other than our employees. Similarly, the most valuable asset that a country has is its people.

Strategies for transformation: Four takeaways from a chat with UNIDO Chief

?It is becoming increasingly clear that for a sustained high-growth path, Sri Lanka needs to undergo further structural transformation of the economy - building more competitive industries, raising exports,

Climate change sparks tension in India’s tea gardens

REUTERS: Usha Ghatowar smiles wryly when asked about the pay she earns picking leaves at a colonial-era tea garden in India’s Assam. “Do you think 3,000 rupees (US $48) are enough when your monthly expenses can be double that?” 

Sri Lankan rubber needs modernization for survival

?The Sri Lankan rubber industry is currently in crisis with the NR (natural rubber) process at critically low (Figure 1). The only answer is modernization of the industry.

Etihad Airways appoints new General Manager for Greece

?Etihad Airways, the national airline of the United Arab Emirates, has appointed Philip Philippou as its new General Manager for Greece. Philip has more than 30 years...

Etihad teams up with Brand USA

?Etihad Airways, the national airline of the United Arab Emirates, has teamed up with Brand USA, a destination marketing organisation for the United States, highlighting its commitment to boosting tourism to the USA from points across its extensive global network.