Putting Sri Lanka on map as a regional energy hub

One of the key growth drivers of the global liquefied petroleum gas (LPG) market is the use of LPG as a cooking fuel, primarily seen growing rapidly in countries in the Asia-Pacific, Africa and South and Central American regions. This segment accounted for more than 40 percent of overall LPG consumption in 2017, according to the Statistical Review of Global LPG 2017, a market intelligence report by the World LPG Association (WLPGA).

Japanese investor reiterates confidence in SL

In the aftermath of the disruption caused by the tragic events on Easter morning, on April 21, 2019, the Board of Investment (BOI), represented by its Media and Publicity Director Dilip S. Samarasinghe, spoke to Kyoto, Japan’s Tosslec Co. Ltd President Jitsuo Mikasa, whose subsidiary Tos Lanka Co. (Pvt.) Ltd has been in operation at the Biyagama Export Processing Zone since 1995.

When fake news and targeted misinformation rule the day

In Sri Lanka, fabricated stories posing as serious journalism is gradually becoming the order of the day and is not likely to go away as they have become a means for some unscrupulous writers to make money and potentially influence public opinion for their political and economic benefit.

Rooms 50% off and ads in Russia: Sri Lanka woos tourists after attacks

(Colombo) REUTERS: Sri Lanka’s battered tourism industry is trying to woo visitors back to beaches deserted after deadly Easter bombings, slashing hotel rates and pushing promotions in key markets like Russia.

Banks want govt. to revisit Debt Repayment Levy

Sri Lanka’s banks have made a chorus call to the government to completely remove or at least suspend the Debt Repayment Levy (DRL) slapped on them that gobbles up millions of rupees from their profits at a time when the bulk of the economy’s weight has fallen on them, in the aftermath of the Easter Sunday attacks.

FinMin signs Statements of Corporate Intent with 8 SOEs

Eight state-owned enterprises (SOEs) entered into Statements of Corporate Intent (SCI) with the Finance Ministry in a bid to strengthening their governance, accountability and transparency, under clearly defined medium-term performance-driven targets during the next three-year period.

Stocks end at 1-week peak in thin trade; rupee edges higher

(Colombo) REUTERS: Sri Lankan shares ended firmer for the second straight session yesterday in dull trade to hit a one-week closing high, while the rupee ended slightly stronger, market sources said.

Shangri-La Colombo to reopen

Shangri-La Hotel, Colombo, yesterday said it would be welcoming guests back from tomorrow onwards, after the deadly Easter Sunday bombings.

Tundra Fonder reps in town to appraise CSE investments

The officials of Sweden-based global asset management company, Tundra Fonder are currently in Sri Lanka for a brief assessment of its Sri Lankan equity market investments, following the Easter Sunday attacks on April 21.

SDBbank to acquire mobile payment platform

SANASA Development Bank PLC (SDBbank) yesterday said it entered into a deal to purchase a mobile payment platform for Rs.20 million.

Tourism in crisis: Managing and seeking out opportunities

Sri Lanka tourism is currently going through a major crisis as a result of the devastation of the Easter 2019 terrorist attacks.

Should you say no to that government pension?

From a purely individualistic point of view, working in government can seem as a great choice. Government jobs come with perks; allowances of all natures and a guarantee that even if you underperform, the worst that can happen to you is a transfer – you will not lose your job.

Cabraal attends Belt and Road Symposium in Hong Kong

Former Central Bank Governor Ajith Nivard Cabraal participated as a panellist at the Belt and Road Strategic Platform Symposium, organised by The Hong Kong Polytechnic University, held in Hong Kong, on May 31, 2019.

PF establishes Hafez Centre for Cultural Understanding

The Pathfinder Foundation (PF) recently established the Hafez Centre for Cultural Understanding (HCCU), located at its headquarters at Riverpoint, Peliyagoda.

MTI forays into Azerbaijan with golf business assignment

MTI Consulting, with an intention to penetrate the CIS markets, has undertaken an initial need identification assessment in Baku, for the Dreamland Golf Club.

SLT and work.lk partner to enhance Sri Lankans’ digital lifestyles

Sri Lanka Telecom (SLT), the leading ICT and digital solutions provider in the country, proudly announced the company’s recent tie up with work.lk, the pioneering online freelance marketplace in Sri Lanka, to increase convenience to the public in finding essential services online, whilst also empowering the freelance community in the country to find freelance jobs easily.

MBSL reactivates bourse with listing after hiatus of 15 months

On June 3, 2019, the shares of Mahaweli Coconut Plantations Limited (MCPL) commenced trading on the Colombo Stock Exchange (CSE).

NCC ‘SLS, ISO, quality certifications’ workshop on June 13

A full-day workshop on ‘SLS, ISO, quality certifications and quality and productivity of a company’ in Sinhala will be held on Thursday, June 13, 2019, from 8:30 a.m. to 4:00 p.m., at the National Chamber Auditorium, No: 450, D R Wijewardene Mawatha, Colombo 10.

Asian Banker names ComBank as ‘Best Trade Finance Bank in SL’

The Commercial Bank of Ceylon has been awarded the title of ‘Best Trade Finance Bank in Sri Lanka’ at the 2019 Asian Banker Transaction Awards that recognise achievements in the competition for market share, product and operational excellence in the financial services industry.

HNB and ICCSL launch exclusive co-branded corporate credit cards

HNB PLC announced the launch of co-branded corporate credit cards in partnership with the International Chamber of Commerce Sri Lanka (ICCSL) recently.

Union Assurance shines at ACCA Sustainability Awards 2018

Union Assurance emerged the winner in the Finance Services and Insurance Category at the ACCA Sri Lanka Sustainability Reporting Awards 2018 held on May 30th.

Fairfirst Insurance to make insurance premiums more affordable

Traditional payment methods generally involve payments being made in one go. And if it’s a hefty sum then the impact on one’s wallet is even bigger. But, what if there was a way to go easy on the wallet? What if we could pay in bite-sized proportions instead of lump sums?

Pan Asia Bank introduces Custom payments through retail internet banking

Pan Asia Bank recently introduced a facility to make real-time online payments to Sri Lanka Customs through its online banking.

NDB Smart Agri provides 13.5% best ever leasing rate for agri sector

NDB Leasing and business customers can enjoy a special interest rate of 13.5 percent until July 31st, through “Smart Agri Leasing” by NDB Leasing.

Suspension on Pan Asia Bank’s primary dealership extended

The Monetary Board of Central Bank of Sri Lanka has extended the suspension on the primary dealership operations of Pan Asia Banking Corporation PLC for another six months.

BOC opens new branch in country’s first green town

The Bank of Ceylon entered the newly built Laggala Green Town, which replaced the old town that was submerged during the Moragahakanda Kalu Ganga reservoir project.

LVL Energy Fund records breakout financial performance

LVL Energy Fund PLC surpassed its outstanding financial performance in the previous year, by posting profit after interest and tax of Rs.571 million in 2018/19, compared to Rs.439 million in the previous financial year, which reflects a formidable 30 percent growth.

EFL launches exclusive charter to Pittsburgh, USA

Global logistics provider EFL recently launched an exclusive weekly charter to Pittsburgh, USA as part of its continuous efforts to develop innovative solutions for global brands.

WB trims Sri Lanka’s 2019 economic growth forecast to 3.5%

The World Bank (WB) has cut Sri Lanka’s economic growth forecast to 3.5 percent from earlier forecasted 4 percent due to anticipated rise in political uncertainty and impacts of Easter Sunday attacks on investor sentiment and perceptions.

Divided G20 admits worsening trade wars pose risk to world economy

Japan, (AFP) - The world’s top financial policymakers admitted yesterday that trade tensions had worsened and posed a risk for the global economy, after a G20 meeting that laid bare differences between the United States and other nations.