Concessions to import labour must be thought through

National Human Resources Development Council of Sri Lanka (NHRDC) and International Chamber of Commerce Sri Lanka Chairman Dinesh Weerakkody points out that a key factor the success of Sri Lanka’s economic growth plan hinges on is its availability of skilled and employable workforce to support the growth. Weerakkody says people who understand the talent challenges must address this issue, rather than the people who have limited or no domain

Road to becoming a maritime hub - opportunities and challenges

Sri Lanka’s journey in becoming a maritime hub is put on the fast track with the signing of the Hambanthota port agreement and the expedition the Colombo Port Expansion project.

Softlogic Life partners Dialog to launch ‘Per Day Insurance’

Softlogic Life recently collaborated with Dialog Axiata PLC to launch an all new life insurance scheme under the name ‘Per Day Insurance’, which is available to all prepaid and postpaid Dialog customers. Softlogic marked its presence in the insurance business in 2012. Softlogic Life Insurance PLC has evolved into a leading insurance solutions provider at the forefront of the industry for over 17 years since inception. Dialog Axiata PL

Combank enables POS use in Sri Lanka for UnionPay cards

The Commercial Bank of Ceylon has enabled point-of-sale (POS) usage for UnionPay cards, making it possible for cardholders of the world`s largest card base in circulation to pay for purchases at local retailers with these cards.

Amãna Bank named ‘Lead Banking Partner’ for IFFSA 2017

For the second consecutive year, Amãna Bank has come forward to sponsor the Islamic Finance Forum of South Asia (IFFSA) as its Lead Banking Partner. 

AIA Group’s new business climbs 20% helped by China, Hong Kong

REUTERS:  AIA Group Ltd, the world’s third-largest life insurer by market value, clocked a 20 percent increase in new business in the third quarter aided by strong sales in its main markets of China and Hong Kong.

NDB wins ‘Best Local Bank in South Asia for BRI’ at the Asiamoney Awards

NDB was crowned as Best Overall Local Bank in South Asia for BRI (Belt & Road Initiative) at the Asiamoney New Silk Road Finance Awards 2017. 

LB Finance gets nod to operate microfinance business in Myanmar

L B Finance PLC’s overseas foray has borne fruit with the company successfully securing a licence to run a microfinance business in the southern central part of Myanmar, which is slowly opening up after decades of military rule.

Govt. to bring in new Fiscal Liability Management Act to tackle debt problem

The government is fast-tracking new regulations for better liability (debt) management to service the country’s massive debt pile, under which the restructuring of state-owned enterprises (SOEs) take centre stage.  

‘Invest Sri Lanka’ at iconic Nasdaq MarketSite

Representatives of the Colombo Stock Exchange (CSE) and the Securities and Exchange Commission of Sri Lanka (SEC) were recently hosted by Nasdaq at Nasdaq MarketSite –the commercial marketing presence of the Nasdaq stock market and the location for market bell ceremonies at New York’s Times Square. 

Dialog plans to set up country’s first digital bank next year

Dialog Axiata PLC is clearly upping its game in the financial technology (fintech) space following its majority stake purchase in Colombo Trust Finance PLC (CTF), as the telco plans to set up the country’s first digital bank by first quarter of next year (1Q18).

Watawala spins off tea biz; listing of new entity via introduction

Watawala Plantations PLC (WATA) has spun off its tea segment operations from its palm oil business—a move the holding company has been planning from the beginning of the financial year 2017/18.  WATA earlier said its operating assets and liabilities of upcountry tea business segment would be vested under newly formed entity, Hatton Plantations Limited.   

Govt. needs to grow a backbone: tea exporters

An increasing number of Sri Lankan tea exporters are setting up tea processing facilities outside Sri Lanka, as the government doesn’t have a “backbone” to implement its own policy of creating a tea hub in the country due to influence from protectionist lobbies, the country’s tea exporters said.

Sony introduces all new Bravia OLED series to Sri Lankan market

Introducing new additions to its product portfolio, Sony Electronics launched its new range of Bravia OLED televisions, ‘X series’ and ‘A series’ product lines to the Sri Lankan market, in collaboration with the authorized distributor of Sony products to the local market, Singer Sri Lanka recenly.

Sony introduces all new Bravia OLED series to Sri Lankan market

Introducing new additions to its product portfolio, Sony Electronics launched its new range of Bravia OLED televisions, ‘X series’ and ‘A series’ product lines to the Sri Lankan market, in collaboration with the authorized distributor of Sony products to the local market, Singer Sri Lanka recenly.

CICT sponsors ‘Best Innovative Exporter of the Year’ Awards

Colombo International Container Terminals (CICT) sponsored the ‘Best Innovative Exporter of the Year’ at the 25th annual export awards ceremony of the National Chamber of Exporters (NCE). The winner of the Gold award for 2017 wasthe Hayleys PLCcompany Rileys (P

LIOC joins forces with Diesel & Motor Engineering and Tata

Lanka IOC (LIOC), Diesel & Motor Engineering PLC (DIMO) and Tata Motors Limited India announced the launch of Tata Motors Genuine Oil recently. 

CIC acquires 70% stake in Unipower

CIC Holdings PLC reiterating its strong commitment towards the agriculture industry in the country acquired 70 percent control of Unipower (Pvt) Ltd for Rs. 238 million recently. 

Regent announces brand new sports complex in 2018

The board of directors along with staff, architects, contractors and builders came together to mark the beginning of construction for the Regent Country Club’s brand new sports complex recently.

Link Ready-mix launches new batching plant in Jaffna

In a bid to support the Blue Ocean Group’s ongoing construction projects in the Northern province, Link Ready-mix, a subsidiary of the Group, has obtained a new ready-mix batching plant at No.21/1, Kandy Road, Navatkuli, Jaffna.

Coach and mentor your team members using GROW model – a simple but powerful process

When trying to enhance the performance or behaviour of their staff, many leaders make the mistake of telling people what to do: the message often goes in one ear and out of the other one! People have to take ownership of the need for the change and become committed to putting the effort in to sustain a change in their performance or behaviour. 

IIMA to conduct Top Management Programme on ‘Transforming Biz Organisations to Achieve Growth’

The Indian Institute of Management Ahmedabad (IIMA) in collaboration with the Institute of Certified Professional Managers (CPM) and Institute of Certified Management Accountants of Sri Lanka (CMA) will be conducting the Top Management Programme on the topic ‘Transforming Business Organisations to Achieve Growth’ from November 27 to 29, 2017.   

Crowdfunding – Its economic impact and regulation

‘Crowdfunding’ is the pooling of small amounts by a large number of investors to fund a project. It is carried out using the Internet. Crowdfunding is a novel approach for raising funds and is known to have been in existence for a little less than a decade. A small contribution on a crowdfunding platform has not only helped a creative person to bring an idea to fruition but has made a significant impact on the economy.

Grandeeza Negombo kicks off festive season with traditional cake mixing

It’s beginning to smell like Christmas at Grandeeza. The annual tradition of the mixing of the Christmas cake at Grandeeza was conducted with the participation of Chairman Dunstan Goluhewa, Managing Director Dishan Goluhewa, General Manager Amila Alvis, Executive Chef Samantha Abeysekara, department heads and some of the other staff recently.

My Friend Foundation organises motivational Children’s Day event

Aligned with its commitment to uplift the lives of children from economically underprivileged schools, the My Friend Foundation organised an exclusive event to mark the Children’s Day on October 4, 2017. 

Leads celebrates 34 years of service in Sri Lanka

Leads, a registered charity, is at the threshold of moving to 35 years of service in ‘Touching Lives, Transforming Communities and Building the Nation of Sri Lanka’.  ‘By the communities for the communities’ is the philosophy Leads follows as 

NDB Toastmasters Club emerges as Encore 2017 drama competition winner

NDB Toastmasters Club emerged as the Encore 2017 drama competition winner recently.

Huawei rewards Cricket Promo Draw winners

Huawei, the leading smartphone brand in Sri Lanka, recently rewarded the winners of the Cricket Promo Raffle Draw. 

Port City aims to become benchmark in environmental friendliness and sustainability: Houliang

Managing Director of Port City Colombo (Pvt.) Ltd, Jiang Houliang, speaking at the 11th Annual General Meeting of the Institute of Environmental Professionals Sri Lanka, said that Port City Colombo’s vision is to be the benchmark in environmental friendliness and sustainability. 

Catalonia independence push sparks tourism slump

AFP:  Catalonia’s independence push is taking its toll on the region’s tourism industry, with revenues and hotel bookings down since a banned October 1 secession referendum that was marred by violence.