CB may take further measures to lower lending rates

The Central Bank could take more steps to reduce high lending rates if commercial banks do not fall in line with monetary policy rate cuts, a top Central Bank official said yesterday..

Are we mentoring daughters right?

We all know what a little girl’s world consists of – Barbies, Angelina Ballerinas, soft pink dresses and dainty little...

SEC Chief explains capital markets turnaround strategy

At the 66th CFA Institute Annual Conference held in Singapore in May, I had the honour and pleasure of interviewing Nalaka Godahewa, the Chairman of the Securities and Exchange Commission (SEC) of Sri Lanka, on the development of the country’s capital markets.

Escalating tensions in the Palk Bay area

An escalation of fisheries related incidents in the Palk Bay area is threatening to undermine the bilateral Indo-Sri Lanka relations. It is important that this matter is given urgent attention.

Post-2015 agenda for Asia

With the Millennium Development Goals expiring in 2015, a global debate is underway for a new development agenda to replace them. For Asia, the agenda must in part tackle the unfinished task of poverty reduction under the MDGs

J’pura University to offer Masters in Entrepreneurship next year

The University of Sri Jayawardenepura’s Faculty of Management Studies and Commerce announced the establishment of a Masters in Entrepreneurship qualification from January 2014.

Central Bank further relaxes foreign exchange regulations

During the past few years, Sri Lanka’s macroeconomic fundamentals have improved and the domestic financial sector has become stronger and more resilient

T-bill yields steady

The short term Treasury bill yields fell at yesterday's auction held to re-issue Rs.12 billion maturing bills, the Public Debt Department of the Central Bank said.

Are bottlenecks choking country’s potential?

Much has been said about Sri Lanka’s potential for growth, and indeed there are many national and corporate plans being rolled out towards this end. There is high focus on several key areas of improvement, such as Infrastructure, policy frameworks, citizen services, education and so on.

Natural Rubber industry challenges

The global rubber industry has always been concerned over the fluctuating supply and spiralling prices of natural rubber (NR). Natural rubber is a highly valuable biomaterial in contrast with other bio-polymers and it cannot be replaced by other synthetic materials for many vital applications like heavy-duty truck/bus

Expropriated enterprises offered to listed firms, leading private businesses

Several publicly listed firms and leading business houses in the country have been offered some of the enterprises that were vested with the government under the Revival of Underperforming Enterprises or Underutilized Assets Act in 2011.

Rupee slides to 6-week low, bond sales weigh

Sri Lanka's rupee hit a six-week low yesterday, weighed down by banks' demands for dollars to settle bond-related sales and importer buying of the U.S. currency, dealers said.

Central Bank orders credit card rate cut

Central Bank has told commercial banks to cut the interest rate charged on credit card advances by 4 percentage points in a bid to reduce other lending rates, the Deputy Governor said yesterday.

Nestlé Lanka’s CorpCom boss appointed new EDB Chairman

Nestlé Lanka PLC’s Bandula Egodage has been appointed as the Chairman/Chief Executive Officer (CEO) of the Export Development Board (EDB) of the Ministry of Industry and Commerce, ministry officials stated.  

Aussie firm to make US$ 150mn mineral sands investment

An Australian firm is looking to make an initial US$ 150 million investment in Sri Lanka’s mineral sands prospects in the near future, according to Australian High Commissioner to Sri Lanka, Robyn Mudie.

Hemas - Thailand’s Minor in US$ 70mn hotel project

Sri Lanka’s Hemas Holdings PLC, a family-run conglomerate with a strong presence in FMCG and healthcare sectors has embarked on to develop 3 new hotel properties in partnership with Thai-based Minor Group, a top official of the firm said.

Weather advisories and disaster management in Sri Lanka

It was  most timely that  Razik Zarook ,Chairman ,Bank of Ceylon ,Former Chairman NARA and co- Chair of Our Nations and the Sea (ONS)  in his address at the World Ocean Day on  June 7 (2013) at the BMICH  highlighted  the....

Gaming: Case for hard headed realism Vs moral hypocrisy

The recent decision to authorize the development of integrated tourism resorts, including gaming, has stirred up much controversy. It is an issue that needs to be examined in a hard headed and rational manner, devoid of emotion, hypocrisy and opportunism.

Market fluctuations: A friend or an enemy?

The stock market has outdone many financial instruments in the recent past due to the high return yielded. The market has grown by nearly 33 percent since June 2012 and has already experienced a growth of around 14 percent for the current year. Further on, it has outdone regional markets such as..............

Hemas-Thai based Minor group in US $ 70mn hotel project

Sri Lanka's Hemas Holdings PLC, a family run conglomerate with a strong presence in FMCG and healthcare sectors has embarked on to develop 3 new hotel properties in partnership with Thai based Minor Group, a top official of the firm said.

From crisis to sustenance : Encouraging the heart - Rewarding and recognizing others

Imagine for a moment that you work in a cherished company and your team shared a common goal or standard for excellence in your work. Imagine your leader believed your team could and would be able to be ‘the best’ at what you do.

Doubling hotel room capacity by 2016…

The bulldozers are working and a construction crane is being erected on that vacant lot you pass each day going to and from home. The sign on the fence states that a new 150 room 3-star hotel is being built with a planned opening date of mid -2014. If you have ever wondered just how that hotel was created

SL’s foreign financing undergoes major shift

The composition of Sri Lanka’s foreign financing has undergone a major shift from concessional to non-concessional loans in 2012 with the country’s graduation to a middle income country, the latest Finance Ministry annul report showed.

CSE makes commitment towards DVP introduction

The Colombo Stock Exchange (CSE) is striving to introduce the real- time margining and Delivery Versus Payment (DVP) mechanism for settlement of equities, despite certain setbacks in the implementation process, a top official said.

Central Bank urges banks to cut lending rates

Sri Lanka’s Central Bank is to issue guidelines to direct banks to cut lending rates and narrow the gap with the inflation rate, central bank Governor Ajith Nivard Cabraal said.

Avirate en-route to Australia

The high-street fashion label Avirate will be joining a large and diverse portal of online retailers in Australia effective as of May 22, 2013 with its brand new Australia website.

Meet 15-year-old entrepreneur who markets flip flops

Fifteen-year-olds are not expected to be business savvy – under normal circumstances. For Madison Robinson, the 15-year-old daughter of a former banker, entrepreneurship could not have come early enough; which just goes to show that talent must combine with the right idea at the right place at the right time.

Nature tourism could be made top forex earner: SLNG

The country’s top authority entrusted to promote and develop tourism, the Sri Lanka Tourism Development Authority (SLTDA) should devise a meaningful strategic plan to promote the country’s biodiversity without merely focusing on mega projects, an environment conservationist notes.

Anilana to invest Rs. 4.6 billion on next three hotels

Anilana Hotels and Properties Ltd Sri Lanka will be investing approximately Rs. 4.6 billion in the construction of its next three hotels, according to its founder, high net worth investor, Asanga Seniviratne.

Dull trading haunts corp debt market

Despite the fact that a growing number of listed companies have been offering debentures as a way to raise capital, the market analysts find that those debentures are hardly seen trading in the secondary market, which is instrumental for the development of a vibrant corporate debt market, Mirror Business learns.