Amana Bank launches Saturday Banking

Amana Bank has now opened its doors for banking on Saturdays facilitating greater convenience to its valued customers. Speaking on this initiative Amana Bank’s Head of Consumer Banking and Strategic Marketing Mr. Siddeeque Akbar said “We are committed to ensure convenience and peace of mind to our valued customers.

Bourse slide continues

For the third successive day, the Colombo bourse continued to slide as main indices ended in the red despite improved turnover levels and share volumes when compared with Monday.

USAID - DAYA Apparel alliance uplifts Eastern living standards

The United States Ambassador to Sri Lanka, Patricia A. Butenis inaugurated an apparel factory in Thirukkovil, Ampara on Monday, set up under the Eastern Garment Alliance, a public-private alliance between the U.S. Agency for International Development (USAID) and Daya Apparel Pvt Ltd.

The other side of IIFA

Although many Sri Lankans have not-so-fond memories about the International Indian Film Academy (IIFA) due to scandals surround it, a book has been written by a member in the Steering Committee of IIFA outlining how the event rolled out.

Bond bonuses

The recent US$ 1 billion sovereign bond sold by Sri Lanka would potentially ease pressure on interest rates and stabilize the exchange rate despite an increase in the foreign debt position of the country, a report by a brokerage said.

Market indices fall despite Friday meeting hype

The hype about the outcome of the meeting President Mahinda Rajapaksa had with the market stakeholders at the request of certain stockbrokers and high net worth investors couldn’t boost the Colombo bourse yesterday, as all three market indices ended in the red.

Economic freedom and the Asian century

So many facets of the “Asian century” are discussed heatedly. But one is glossed over — economic freedom. Market liberalisation is a crucial enabler of Asia’s current awakening. Its “negative” acts – removing restrictions that repress economic activity – have unleashed the animal spirits of ordinary people, and they are transforming Asia and the world in the process. But there is much unfinished bus

Skilled human resource base crucial to attract FDIs

Dinesh Weerakkody,  Chairman, Commercial Bank of Ceylon in this interview talks of some of the challenges faced by our policy makers, and the need to mould our younger generations into a way of thinking that is geared suitably to engage in a global talent war. Excerpts:

Gliricidia – the multifaceted wonder plant

I do not think it necessary for me to emphasize on the use of the legume Gliricidia for its many uses in this country. Hence the Legume Gliricidia Maculate has been the most useful legume available in this part of the world. It is since initially time immemorial’ been a source of green manure to build up the organic matter or humus content on essentially soils planted with Tea (Thea sinensis) at elevation ranges below about 4000ft above sea

Chevron Lanka June net up 26% to Rs.533 mn

Marketer of Caltex branded lubricants Havoline, Delo and Lanka, Chevron Lubricants Lanka PLC’s net profit for the quarter ended June 30, 2012 rose 26 percent year-on-year (YoY) to Rs.533.2 million, the interim financials submitted to the Colombo Stock Exchange showed.

Aitken Spence unveils country’s first green printing facility

Aitken Spence Printing recently opened Sri Lanka’s first ever eco-friendly green printing facility in Mawaramandiya with an investment of USD 7 million.

Speak in harmony: Effective communication by design

Communication affects all areas of our lives, business and personal. But do you ever wonder if you could be communicating better? In this information age, we have to send, receive and process huge numbers of messages every day.

Investing in the Secondary Market: Common mistakes

In a previous article we highlighted some common mistakes investors make when investing in the primary market (when applying for shares from an Initial Public Offering). This article will mainly focus on mistakes made by investors

Four brokers hail SEC efforts to regulate market

In the backdrop of stockbrokers and several high net worth investors/traders expecting Presidential intervention to unshackle the Colombo bourse from overregulation, a set of stockbrokers have welcomed the Securities and Exchange Commission’s (SEC) efforts in regulating the capital market in the country.

Int’l hotel brand Hyatt Regency enters Sri Lanka

The Hyatt Regency Colombo hotel project was initiated yesterday with an investment of Rs.20 billion after the signing of the BoI agreement granting the new developer, Sinolanka Hotels and Spa (Pvt) Ltd., the necessary approval.

Women in Olympics – the tears, the thrills, the victories…

Tomorrow there will probably be women runners, or even women football players? If such sports are played by women, would they constitute a proper...

Bourse lacks positive market sentiment - CSBA President

The absence of positive sentiment in the Colombo bourse has made retail investors to shy away from the market, the Colombo Stock Brokers Association (CSBA) President, Sriyan Gurusinghe said.

BBDO Lanka employees support ‘Bikes for Life’ initiative

The brainchild of Kumar Sangakkara and The Foundation of Goodness, ‘Bikes for Life’ aims to raise funds to be gifted to children in the North; enabling them to pursue their education and providing them with an opportunity to enhance their quality of life.

HSBC has not yet informed any layoff plan – Labour Commissioner

HSBC has not yet informed the Department of Labour of any plans to downsize its workforce, according to Commissioner General of Labour V.B.P.K. Weerasinghe.

Bond issue gets favourable rating despite debt problems

The proposed US$ 1 billion bond issue by Sri Lanka has been rated positive by three global rating agencies, in line with the country’s sovereign rating, though not failing to cite the challenges the country’s economy is facing, stemming from high external debts it is burdened with.

NDBIB creates history at Euromoney Awards

NDB Investment Bank Limited ( NDBIB) was adjudged the ‘ Best Investment Bank in Sri Lanka’ recently at the Awards for Excellence 2012 by Euro money, the world’s premier financial markets magazine.

Sustainability issues in monocultural farming systems

Monocultures are large areas of land cultivated with a single crop, using methods that imply a high use of inputs such as agro chemicals and machinery.

SEC shows mercy on broker-credit

As exclusively reported by Mirror Business last Friday, the Securities and Exchange Commission (SEC) in consultation with the Colombo Stock Exchange (CSE) has decided to show more mercy to stockbrokers in managing their debt.

Havelock City unveils penthouse duplex

Havelock City, the largest condominium development in Sri Lanka has newly fitted out a luxury penthouse duplex. Located on the 21st level and extending two floors up to level 23, these penthouses are unmatchable in terms of the intriguing play of volume.

LOLC secures control of Brown for Rs.1.3 bn

Ishara Nananayakkara led LOLC group plans to consolidate control in Brown & Company PLC (BRWN) through the acquisition of the balance 50 percent in the holding company of BRWN in a 1.3 billion deal, a stock exchange disclosure said.

SAARC countries should use trade to mend political differences - GL

Members of the SAARC region should look towards improving intra-regional trade as a pathway towards stronger political union, according to Minister for External Affairs, Prof. G.L. Peiris.

Workplace bureaucracy in need of new thinking

“I have been impressed with the urgency of doing. Knowing is not enough; we must apply. Being willing is not enough; we must do.”

Debate brewing over Sri Lanka tea blending plans

AFP: Sri Lanka’s tea industry is deeply divided over plans to boost earnings by importing cheaper leaves for blending and re-export, over fears the changes could water down the ‘Pure Ceylon’ brand.

Milco property to be leased with BOI incentives

The Ministry of Economic Development together with the Board of Investment of Sri Lanka (BOI) is planning to lease a land belonging to Milco Private Limited in Colombo, to be developed as a mixed development project.

Breadtalk confirms rumours of second outlet

Sri Lanka’s premiere boutique bakery, BreadTalk continues to wow customers from around the island with high standards, consistent quality and unique products; gaining massive popularity among both Sri Lankan and international expatriate consumers.