Cargills Bank opens 16th branch in Ratnapura

Cargills Bank Limited opened its newest branch in Ratnapura within the Cargills Food City premises at the Municipal Commercial Complex conveniently located in the heart of the town. The new Cargills Bank branch was declared open by Chief Guest, Cargills Bank Ltd Joint Deputy Chairman Rajendra Theagarajah and Guest of Honor Cargills Foods Company (Pvt.) Ltd Retail Deputy General Manager

People’s Leasing initiates innovative leasing partnership with Toyota Lanka

Sri Lanka’s leading non-bank finance company People’s Leasing and Finance PLC (PLC) tied up with Toyota Lanka for promoting Toyota Vehicles.

Sarvodaya Finance partners Mobitel to offer next-gen mobile financial services

Sarvodaya Development Finance Limited, the pioneer in micro-finance in Sri Lanka, recently entered into a technology partnership with the national mobile service provider, Mobitel.

Changing global macro environment huge challenge to Asian ports: SLPA Chairman

“We need to understand that the demand for the carriage of goods is a derived demand and it is derived out of demand for trade.  Ports and shipping have to follow trade,” said Dr.Parakrama Dissanayake – Chairman of Sri Lanka Ports Authority (SLPA).  

Shippers’ Academy workshop on new Inland Revenue Act on Friday

Sri Lanka’s Finance Minister presented the new income tax bill to parliament in September 2017. Accordingly, the corporate and income tax laws will come into effect from 1st April 2018.

Shipping container fleet market to reach US$14.4 bn

Transparency Market Research (TMR), a market intelligence company, has found that the Compound Annual Growth Rate (CAGR) will be 5.70 percent during the period from 2017 to 2025.

CASA stresses importance of staying competitive in face of digitalization

Sri Lanka is driving towards establishing itself as a regional Maritime and Logistics hub. 

Qatar Airways Launches Special Companion ‘Two Seats, One Great Offer’ Campaign

Qatar Airways invites passengers to take advantage of its latest “two seats, one great offer” sales campaign, providing First and Business Class passengers a special discount when booking two seats 

A single leadership style does not fit every situation, but change with care

Choosing the right leadership style for each situation can be difficult. For example, you need to get the balance correct between putting too much or too little emphasis on achieving objectives and/or the needs of individuals in a given situation and challenging or supporting an individual too much or too little! 

Leo Burnett Sri Lanka ranked in Campaign Brief Asia’s Top 50 Agencies

Leo Burnett Sri Lanka has been ranked as one of Asia’s Top 50 Agencies by Campaign Brief Asia, Asia’s most influential creative advertising trade magazine. Leo Burnett Sri Lanka is the only agency from the ‘Rest of South Asia’ geographical category to be included in this list.

Most profitable Asia cigarette maker faces cheap cigar flood

British American Tobacco PLC’s unit in Sri Lanka says it’s poised to lose its dominant position in the market to leaf-rolled cigars made by small local rivals.

From nursery to university: Emerging market investors buy into education

Two decades after Yusuf Karodia launched Mancosa, a distance learning school to teach South Africans business skills, he sold up to the UK private equity firm Actis.

Debt repayments – Biggest nightmare for Sri Lanka

When the ambitious Belt and Road Initiative – with projects reportedly worth US $ 1 trillion – was first announced by President Xi Jinping in the autumn of 2013, many were sceptical of this Chinese move aimed at building up economic connectivity of 65 nations (China plus 64) along its ancient silk road and maritime routes. 

Telecom infrastructure firm Edotco receives top award

Leading integrated telecommunications infrastructure services provider Edotco Group said that it was presented the ‘2017 Asia Pacific Telecoms Tower Company of the Year Award’ by Frost and Sullivan. This marks the first time a company has been recognised in this category on the Asia Pacific level, and comes on the back of Edotco’s win of the ‘2016 Southeast Asia Telecoms Tower Company of the Year Award’ last year.

Chinese State media report bloated battery in Apple’s iPhone 8

REUTERS: A fresh case of Apple Inc’s new iPhone popping open due to a swollen battery has been reported in State media in China, the world’s biggest smartphone market where the U.S. firm is seeking to revive faltering sales.

Huawei launches Y7 for new generation in Sri lanka

Huawei launched the Huawei Y7 - the newest addition of next generation smartphones - into the beloved Huawei Y series.

Google to use balloons to provide Puerto Rico cell service

REUTERS: The U.S. Federal Communications Commission said late it had approved Alphabet Inc’s application to provide emergency cellular service to Puerto Rico through balloons.

Micro Cars implements Finac in six weeks

Micro Cars Limited is the largest automobile assembler/manufacturer in Sri Lanka assembling a full range of vehicles from compact cars to Luxury SUVs.

Central Bank likely to direct banks to double capital

With the newest BASEL regulations lifting the bar higher for minimum capital, Sri Lankan banks are set to face another challenge as the country’s banking regulator is planning to double the minimum capital required for a licensed bank, Mirror Business learns. 

Sri Lanka’s Bavarian Motors sues BMW Germany

The Bavarian Motors (Private) Limited, a company primarily involved in importation and sale of luxury BMW vehicles instituted an intellectual property action in the Commercial High Court of Colombo against BMW  (Bayerische Motoren Werke Aktiengesellschaft) in Munich, Germany, alleging that BMW is engaged in or attempting to engage in unfair competition against Bavarian Motors (Private) Limited. 

Port City company offers to extend Marine Drive in US $ 150mn project

China Harbour Engineering Company Limited (CHEC), the developers and the owners of the Colombo Port City project, has proposed to extend the Marine Drive via an underground tunnel, that will ultimately connect the country’s South with the Northern region.  

Eran to present Appropriation Bill to Parliament today

The Appropriation Bill for the budget 2018 will be presented to Parliament today, Finance and Mass Media Ministry said in a press communiqué yesterday.

Retail head John Flint to replace Gulliver as new HSBC CEO

REUTERS: HSBC wants to appoint company insider John Flint as its next Chief Executive and has approached regulators seeking their approval, Britain’s Sunday Times newspaper said.

Summit Finance changes name to Prime Finance

The change in name comes with the acquisition of Summit Finance PLC by Property and real estate developer, Prime Lands (Pvt.) Ltd.

Filmfare selects Sri Lanka for November issue cover shoot

Sri Lanka once again proved that it was becoming a favourite hotspot to provide picturesque locations for the Bollywood film industry when it selected Sri Lanka to do the cover shoot of the November issue of Filmfare magazine with Deepika Padukone, one of Bollywood’s successful actresses. 

Fonterra Lanka launches another dairy innovation focussed on heart health

To help Sri Lankan adults live their lives to the fullest, Fonterra Brands Sri Lanka, the company behind Anchor, has launched another country first with its latest dairy innovation focused on heart health.

World Vision Lanka marks 40 years in operation

“Empowering communities out of poverty – for real. For good. That has been our business for 40 years here in Sri Lanka,” says Dhanan Senathirajah, National Director for World Vision in Sri Lanka.

Latest ‘State of the Economy’ report identifies inadequate HR skills a key constraint for growth

Against the background of a progressive improvement in the macroeconomic environment, led by better fiscal policy outcomes, Sri Lanka needs to urgently address the structural constraints through a process of reforms, if the country is to raise its medium-term growth prospects, Sri Lanka’s leading economic policy think tank, the Institute of Policy Studies (IPS) pointed out recently. 

Lankan start-up ecosystem to accelerate with ABAF 2017: Mano

One of the biggest events in Sri Lanka’s start-up ecosystem is set to take centre-stage this month as Sri Lanka hosts Asia’s largest start-up investor forum – Asian Business Angels Forum (ABAF) 2017.

Latvian Consul General visits Riga Foreign Affairs Ministry

On an official visit to the Republic of Latvia, Honorary Consul General of Latvia in Sri Lanka Thomas F. Daetwyler visited the Foreign Affairs Ministry of the Republic of Latvia and met Asia and Oceania Division Head Egils Dzelme.