Colombo rubber prices hit lowest levels since 2009

Rubber prices at the Colombo auction have hit the lowest levels since 2009, and appears to continue to slip for the foreseeable future, while production may fall, having already reduced to the lowest since 2004, heralding a dark age for the industry.

NSB records highest ever PBT of Rs. 10.5 bn in 2014

?NSB recorded the highest ever profit before tax of Rs. 10.5 billion for the year ended 31st December, 2014, an increase of 360 percent from previous year. The net profit after tax was recorded at Rs. 6.9 billion, a 480 percent increase.

China factor no threat but mutually beneficial - Dr. Palmer

Sri Lanka should not be afraid of Chinese imports or tourists, as they could be beneficial in different ways, an international cooperate sector figure told a public seminar in Colombo yesterday. 

NKAR celebrates 35 years launching new experiences

?It was way back in 1980, a youngster actively involved in music stepped onto his career journey by launching a car rental company from home which took wings as the present NKAR Travels & Tours (Pvt) Limited. 

More bank directors resign

?Several directors have resigned from the boards of two leading private-sector banking corporations during their Annual General Meetings this week. According to announcements on the Colombo Stock Exchange, National Development Bank PLC Directors Anura Siriwardena and ...

Mercantile Investments wins ACCA Sustainability Reporting Award

?Mercantile Investments and Finance PLC (MI) Annual Report for financial year 2013/14 won the Sustainability Reporting Award, under the financial services and Insurance category, at the recently held ACCA Sri Lanka Sustainability Reporting Awards 2014 competition. 

March inflation eases to record low of 0.1%

Sri Lanka’s annual inflation slowed to a record low of 0.1 percent in March from 0.6 percent in the previous month, the Census and Statistics Department said yesterday. 

SEC conducts workshop on stock broking

?Securities and Exchange Commission of Sri Lanka (SEC) successfully conducted the 2nd  professional development programme for the year 2015 on 28th  March, at The Institute of Chartered Accountants of Sri Lanka, Auditorium.

South Asia Textiles to sponsor ‘Governor’s Cup’

?With Sri Lanka’s elite eager to gather at next month’s “Governor’s Cup” horse racing derby, the island’s own “Royal Ascot”, with all the pomp and pageantry it entails, textile industry leader South Asia Textiles Industries...

Multilac takes 187 dealers to Malaysia

?Multilac gifted 187 of its best dealers with an all-expense-paid tour to Kuala Lumpur, Malaysia recently. This was done with the objective of developing people and recognizing their efforts and hard work towards sustaining Multilac’s position as the market leader in paints.

Dynasty Residence sets standards for American investment

?Acting U.S. Ambassador to Sri Lanka Andrew C. Mann extended his enthusiastic support to Kandy’s first mixed development project Dynasty Residence, led by prominent Sri Lankan-American entrepreneur Mahasen Samaravijaya during a recent visit to the construction site.

Arpico unveils ‘Avurudu Siritha’ for 2015

?As the country prepares for the Sinhala and Tamil New Year, the Arpico retail chain has made arrangements to provide its customers with a different experience this festive season.

Tourism and Arts

Tourists checking out paintings by art vendors at Green Path in Colombo.  Tourist arrivals to Sri Lanka increased 16.7 percent to 165,541 in the month of February 2015, from 141,878 in February last year, according to Sri Lanka Tourism Development Authority statistics.

TAs with India and China: Potential for Sri Lanka

?Sri Lanka has various levels of trade agreements (TAs) with both India and China. A new TA with China was mooted in 2014 and the appetite for that continues in the new presidency and policy context of 2015.

Without coherent policies and consistent signals, Sri Lanka will continue to struggle in attracting

?Nearly six years since the end of the war, Sri Lanka is struggling to get any impressive increase in foreign direct investment (FDI). The only notable increase in FDI has come in the...

Masters Advertising marks 52nd year with resilience and unique calling

?A testimony to perseverance, Masters Advertising has withstood the test of time; rendering unequivocal creative ideas for over half a century.  Having entered advertising in a time of many...

Present status of Delimitation of Continental Margin project and National Ocean Affairs Committee

?The project on the Delimitation of the Continental Shelf (DECOM) as provided in the United Nations Convention on the Law of the Sea (UNCLOS) was  initiated as far back as 1999 by Sri Lanka and completed in 2009.

Janashakthi’s motor insurance sets industry benchmark: Janashakthi COO

?Falling fuel prices led to a significant increase in vehicle registrations in January, with 4,928 units being registered up from 4,311 in December and 1,958 units a year ago, a report from JB Securities said. 

Emergency medical assistance services for ATL customers

?As part of its promise to make insurance open to all, Amãna Takaful (ATL) recently partnered with Falck Sri Lanka to provide its individual medical insurance policyholders with access to world-class emergency medical services (EMS).

United Motors-HNB Leasing to offer financing facilities for Mitsubishi vehicles

United Motors Lanka PLC (UML), a leader in the automotive industry, signed a Memorandum of Understanding with HNB Leasing to offer its customers attractive financing facilities for its range of Mitsubishi vehicles. The range includes cars, SUVs and double cabs.

Honour and awards for top performers at AIA Sri Lanka

?Top-rung sales performers at AIA Sri Lanka were singled out for honour and recognition at a gala awards night that packed the grand auditorium at the BMICH last week with over 1000 wealth planners and wealth planners’ managers. 

KPMG announces Rajesh Harsha Rajan as its new Partner

?KPMG in Sri Lanka, a member firm of the KPMG network of independent member firms announced that Rajesh Harsha Rajan has been appointed as a Partner of the firm with effect from 1stApril 2015.

NEF declares higher dividends for CY14

National Asset Management Limited (NAMAL) paid a dividend of Rs.1.50 per unit to the unit holders of the flagship National Equity Fund (NEF) for the year ended March 31, 2015.

‘Avurudu’ discounts at 47 retailers for ComBank cardholders

?Credit and debit card holders of Commercial Bank of Ceylon have once again been presented with an opportunity to save as they shop this Avurudu season, as a result of special discounts negotiated for them by Sri Lanka’s largest private bank.

Philips to sell major stake in LED, car lighting arm for US $ 2.8bn

?AFP: Dutch electronics giant Philips yesterday said it was selling a majority stake in its LED and car lighting arm to a consortium led by China and US-based GO Scale Capital investment fund in a deal worth US $ 2.8 billion.

Kuwait Airways begins daily operations from Colombo

?Kuwait Airways commenced its Colombo Operations way back in 1972. With a history of 43 years in Colombo, Kuwait Airways has been gradually expanding  its services with the emerging need.

China, Japan, S.Korea halt Thai air route expansion on safety concerns

?Reuters - China has joined South Korea and Japan in stopping Thailand-based airlines from flying charters and new routes because of safety concerns highlighted by an international audit, Thai officials said this week.

China to launch deposit insurance from May 1: govt

?AFP: China will launch deposit insurance to help protect bank customers from May 1, the government said yesterday, in a move seen as key to eventually freeing interest rates.

Emirates keeps you connected on over 100 aircraft

?Emirates now offers free Wi-Fi on 106 of its aircraft, with two to three more aircraft being installed with Wi-Fi connectivity every month. After updating the service in early February with a simpler sign-on process on top...

VIP guests join Oman Air’s inaugural flight to Singapore

?VIP guests joined Oman Air’s inaugural flight from Muscat to Singapore on March 29th . The new route has been designed to meet strong demand for services between the two ...