Gifts galore with new NDB children’s savings account

NDB’s new children’s savings account provides great incentives for children to accumulate savings by rewarding them at progressive milestones with exciting gifts. While this contributes to building a savings habit amongst the children, it also provides the parents a great tool to help build a children’s savings fund for their children that would be available when their child is 18 years old. 

Construction industry pushes for personalized EPF/ETF accounts

An apex professional and trade chamber in the construction industry is pushing for reforms in the manner contributions are made to retirement accounts at the Employees’ Provident Fund (EPF) and the Employees Trust Fund (ETF) in order to minimize companies defaulting on such payments.

Singapore’s Somap to buy controlling stake of Anilana Hotels for Rs.667mn

Singapore-based Somap International Private Limited will invest Rs.667.5 million in Anilana Hotels & Properties PLC in return for a 51 percent stake in the debt-ridden company subject to regulatory and stock exchange approvals, the company said in a stock exchange filing. 

Asiri Surgical divests 50% stake of cancer treatment centre for Rs.212.5mn

Asiri Hospital PLC, a unit of Asiri Hospitals group, yesterday said it divested 50 percent of shares of Asiri AOI Cancer Centre Private Limited to Cancer Treatment Services Hyderabad Private Limited for a total consideration of Rs.212.5 million.

Poultry output to fall this year due to supply side constraints

The growth of poultry production in Sri Lanka is expected to fall down to 3 percent in 2017 due to limitations in importing the required inputs to expand the industry to cater to the fast growing poultry demand in the country.

European tourists boost August arrivals for Maldives

The Maldives attracted 121,310 tourists this August, up 8 percent compared to the same month last year, with the demand being driven mainly by European travellers, according to the Maldives Ministry of Tourism.

Govt. begins drafting separate legal framework for Financial City

Amid the controversy surrounding the draft new constitution, the government behind closed doors is drafting a new legal framework to administer the China-backed Colombo International Financial City (CIFC), the 500-acre Colombo sea front reclaimed for a special economic zone, Mirror Business learns. 

Ex-EFC chief says keys to corporate governance are fair and equitable practices coupled with quality

Corporate governance within an organisation constitutes of two elements – one in relation to value chains and having a positive view on issues of sustainability and the other in relation to internal constituents, the employees. 

Sampath Bank partners with Colombo International Book Fair

Continuing to help nurture the habit of reading, Sampath Bank joined hands with the Colombo International Book Fair as the event’s official banking partner for the 13th consecutive year.

Innovative products to demo at ABAF 2017 ‘Start-up Corner’

Sri Lanka’s first Asian Business Angel Forum (ABAF), to be held next week, features a ‘Start-up Corner’ where innovative Asian region and local, start-up ventures will showcase new offerings for conference delegates as well as the public. 

Sri Lanka to hold its own PropertyGuru Asia Property Awards domestic galain 2018

PropertyGuru, Asia’s foremost online property company, has announced that the inaugural PropertyGuru Asia Property Awards (Sri Lanka) domestic gala dinner will take place at the Shangri-La

DFCC Bank felicitates inaugural batch from the ‘SamataEnglish’ programme

Pursuing its commitment to uplifting the standards of education in the country, DFCC Bank counts Education as a key pillar in its corporate social responsibility initiatives. In fact, DFCC Bank has 

Etihad Airways Improves Timings On Abu Dhabi – Medina Route

Etihad Airways is re-timing its daily Abu Dhabi – Medina flights to a daytime operation and will also introduce three additional weekly services during the peak winter period.  

Latest Colombo AI meetup deciphers fact from fiction

The Colombo Artificial Intelligence (AI) Meetup, organised bythe Sri Lanka Association for Artificial Intelligence (SLAAI) and hosted at Virtusa, is a quarterly forum where industry professionals discuss 

The Launch of Samsung Galaxy Note 8 - Video

New Galaxy Note is designed to help you achieve more in work and life with an Infinity Display, enhanced S Pen and Dual Camera with dual Optical Image Stabilization

The correction that never happened

Global equity markets have gone without a 5 percent drawdown for more than a year and they haven’t suffered a 10 percent correction since the start of 2016. The stock market has powered through several surprise events – Brexit, President Trump’s election and North Korea’s heightened belligerence – seemingly without missing a beat. How are we to make sense of this unusual trend and how do we prepare for the inevitable

Reviving exports: A realistic plan in need

According to a news item in Mirror Business of Daily Mirror on September 15, Development Strategies and International Trade Minister Malik Samarawickrama has emphasized the need to increase our exports. At the recently held symposium on Sri 

Mohan and Dhammika appointed as Singer Chairman and Co-Chairman

Following the acquisition of Singer (Sri Lanka) by Hayleys PLC last month, Hayleys PLC Chairman and Chief Executive Mohan Pandithage was appointed as Chairman of Singer (Sri Lanka) and business tycoon and Hayleys Co-Chairman Dhammika Perera was appointed as Co-Chairman of Singer (Sri Lanka), at a board meeting held at the Singer (Sri Lanka) head office.

Cabinet likely to decide on slapping additional taxes on construction industry today

The cabinet today is likely to discuss the implementation of the Construction Industry Development Levy, which has been delayed for three years, according to a top official.   “The Finance Ministry didn’t want additional taxation to be imposed on the construction industry, so the implementation of the levy was delayed. A few cabinet papers were submitted proposing alternatives and the cabinet will discuss them next week,&rdq

Rupee ends steady; remittances offset importer dollar demand

REUTERS: The Sri Lankan rupee closed steady yesterday as dollar sales by banks due to inward remittances were offset by demand for the US currency from importers to pay for their purchases, dealers said.

Shares hit 7-week closing high; banks gain

REUTERS: Sri Lankan shares rose for a third straight session yesterday to end at their highest close in seven weeks led by banks and diversified shares, while continued foreign buying in the market underpinned positive sentiment.

NTB announces convertible bonds to raise Rs.3.5bn

Nations Trust Bank PLC (NTB) last week resolved to raise fresh capital from a corporate debt issuance as the mid-size lender plans to ramp up capital to stay in line with the new BASEL III regulations on capital, which came into effect from July 1, 2017.

Sri Lanka announces free medical and personal accident cover for schoolchildren

Creating a landmark in the history of education in Sri Lanka, the Government of Sri Lanka has launched a free medical and personal accident cover for all schoolchildren of the nation.

mCash partners with Keells Super to extend ease for customers

Mobitel has partnered with Keells Super outlets to offer mobile users to pay utility bills and make mCash deposits at Keells Super outlets. 

Star Drive promo rewards Caltex customers

Caltex, Sri Lanka’s leading lubricant company concluded the sector’s biggest ever consumer promotion “Caltex Star Drive – Car and Bike Chase” recently.

SLID social calendar returns

Taking a delightful turn from its usual corporate training programmes, workshops and seminars, the Sri Lanka Institute of Directors (SLID) brings together an elegant evening, starting with a drinks reception extending to wining and dining at an exquisite six course dinner whilst listening to the De Lanerolle brothers accompanied by the 18 piece National Unity Orchestra. 

Lycachat brings latest evolution in instant messaging technology

With free high-definition group video calls and instant screen and file sharing, built on top of a flawless text and multimedia messaging platform; Lycachat is more than just an app, it’s a new social network. Lycachat is a smartphone app available for Android as well other smartphones. Use Lycachat to connect to family and friends across the world freely. Send texts, make HD quality phone and video calls and send photos and video messages

NIBM collaborates with Limkokwing University to launch National Innovation Centre

The National Institute of Business Management (NIBM) recently joined forces with Malaysia’s Limkokwing University of Creative Technology to launch the National Innovation Centre (NIC), which will present a highly conducive environment to empower the future generation with demanding entrepreneurial skills, modern technology, innovation and creativity.

Landmark introduces novel property concepts

 Landmark Developers Holding (Pvt) Ltd, a recent player in the highly lucrative Sri Lankan property market is introducing fresh concepts and ideas stemming from a young and passionate team of professionals. 

CSSL announces winners of ICT Awards 2017

CSSL ICT Awards 2017 is the annual Information Communication Technology (ICT) industry awards ceremony organized for the fifth consecutive time by the Computer Society of Sri Lanka (CSSL) to encourage, recognize and celebrate the excellence in ICT practice by rewarding the best and the finest of ICT professionals.