Richard Pieris Finance achieves 80% PAT growth

Richard Pieris Finance has achieved a tremendous improvement in profit within just four years, with a profit after tax (PAT) of Rs.388 million, which is higher than the expected. It’s a huge escalation compared to last year, with an 80 percent growth of PAT. 

Dr. Rohan Karunaratne appointed as Arpico Finance Chairman

Veteran professional and entrepreneur, Dr. Rohan Karunaratne, has been appointed as the new Chairman of Arpico Finance Company PLC (AFCP). 

Softlogic Life Insurance honours 2017 Million Dollar Round Table winners; seeks to build MDRT force

Sri Lanka’s fastest growing life insurer, Softlogic Life Insurance PLC, recently conducted a biannual congress to recognize its Million Dollar Round Table (MDRT) winners who took part in MDRT Annual Conference 2017, which was held in Orlando, USA. 

Seylan comes forward to celebrate Tikiri Children’s Month again

Revitalising its excellence in minor savings accounts for over 26 years, Seylan Tikiri, Sri Lanka’s leading children’s savings account, has once again come forward to celebrate Seylan Children’s Month, coinciding on the World Children’s Day for the fourth consecutive year, with a host of exciting events, coupled with attractive gift schemes planned across the bank’s islandwide branch network. 

Improving bank, finance company governance in SL

The dust is yet to settle on the collapse of Central Investments & Finance PLC (CIFL) and the Ceylinco group’s Golden Key Credit Card Company (GK). Many of its depositors are still awaiting settlement of their dues. 

Central banking and fintech — A brave new world?

Following is an edited version of the speech made by International Monetary Fund (IMF) Managing Director Christine Lagarde at the Bank of England Conference, London.

Australian HC speaks on country branding at CIM CEOs Breakfast Forum

The Chartered Institute of Marketing (CIM) Sri Lanka hosted its third CEO Breakfast Forum for the year at Hilton Colombo Residences, emphasizing the importance of building a successful county brand image. The speaker for the forum was Australian High Commissioner Bryce Hutchesson, a senior officer in the Australian Department of Foreign Affairs and Trade (DFAT).

Adapt your leadership styles for changing business situations

Not only do the great teammates allow different leaders to consistently emerge based on their strengths, but also, they realize that leadership can and should be situational, depending on the needs of the team. Sometimes a teammate needs a warm hug. Sometimes the team needs a visionary, a new style of directive, someone to lead the way or even, on occasion, a kick in the back. 

Top int’l speakers to steer CA Sri Lanka National Conference technical sessions

The 38th National Conference of Chartered Accountants organised by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) will see an impressive line up of international and local speakers as well as panellists who will steer the technical sessions during the three-day conference from October 25 to 27, 2017, at the BMICH, Colombo. 

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.

Chinese govt. makes donation to Cancer Care Association

A donation ceremony took place at the Cancer Care Association of Sri Lanka on 22nd September.  Chinese Ambassador Yi Xianliang and Speaker Karu Jayasuriya attended the ceremony. Ambassador Yi handed over a donation of Rs. 13 million to Dr. Samadhi Rajapaksa, Chairman of the Cancer Care Trust of Sri Lanka, to assist the foundation to help cancer patients throughout the island. 

Cargills disposes two acres of Colombo land for whopping Rs.4.2bn

Cargills Ceylon PLC has sold two plots of lands with an extent of little over two acres from its massive land bank held in Colombo and elsewhere to Vauxhall Land Developments Private Limited for a consideration of Rs.4.2 billion.

Lankan city hotels keen on knowing more about their foreign visitors

Sri Lankan hotels are attempting to improve the data analysis and segmentation of tourists, according to Cinnamon Hotels & Resorts, which is a subsidiary of the country’s largest leisure sector operator John Keels Holdings PLC.

Thilan says he had no intention of snubbing media

Following is a statement National Agency for Public Private Partnerships Chairman Thilan Wijesinghe has sent to Mirror Business following our story titled ‘Whither good governance? Government’s PPP boss throws media out of top forum,’ which appeared on September 29th.

Entrance of heavy vehicles to Galle Fort banned

The government has taken a decision to enact a gazette notification that was issued in 2009, restricting vehice movement within the Galle Fort.

September inflation accelerates to 7.1% amid soaring food prices

Sri Lanka’s consumer prices measured by the Colombo Consumer Price Index (CCPI) rose to 7.1 percent in September—the second time the prices rose above 7.0 percent during the year as the prices of many staples rose sharply, the consumer price data released by the state statistics office showed. 

U.S. fines HSBC US$175mn for lax forex trading oversight

REUTERS: The U.S. Federal Reserve fined HSBC Holdings PLC US$175 million for “unsafe and unsound practices” in its foreign exchange trading business, the latest in a series of fines for banks that fail to prevent market manipulation.

Sri Lanka gets cautious thumps up from IMF

The International Monetary Fund last week said Sri Lanka is so far doing well in its economic reforms to reach the targets to remain eligible for the US$ 1.5 billion Extended Fund Facility (EFF), despite the challenges posed by the recent climate shocks, which has slowed economic growth below 4.5 percent.

UNIDO’s Dr. Berkel to highlight SDGs and industry way forward in Colombo today

UN’s specialized agency for industrial development working to usher inclusive and sustainable industrialization framework will unveil its way forward on industry framework of Sustainable Development Goals (SDGs) on Sri Lanka today. 

National Chamber hosts Indonesian envoy

Indonesian Ambassador  Gusti  Ardiyasa  along with the Head of  Chancery and Commercial Secretary  addressed the  business community at the “Meet the Ambassador “ programme on bilateral trade between Sri Lanka and Indonesia at the National Chamber  recently. Here the Indonesian ambassador is presented with a token of appreciation  by President of National Chamber of Commerce  Sujeeve Samara

Intex South Asia to begin on November 15

Intex South Asia 2017 will showcase around 250 exhibitors from 15 countries and regions from 15-17 November at the Sri Lanka Exhibition & Convention Centre (SLECC), Colombo-10.

mCash Partners with Keells Super

Infusing further convenience and ease into its mobile offering, the National Mobile Service Provider Mobitel has partnered with Keells Super outlets to offer mobile users to pay utility bills and make

Mobitel achieves No.1 status in 4G LTE Mobile Broadband

Mobitel (Pvt) Ltd, Sri Lanka’s National Mobile Network Operator enhanced its 4G LTE network coverage by innovatively deploying its existing 900MHz spectrum. This initiative

New Lloyds demonstrates delicious Lasagne Koththu recipe

For 40 years, New Lloyds has continued to demonstrate its commitment to providing consumers with quick and delicious meal options, and the new Instant Lasagne Koththu appeals to the craving for home-made ‘koththu’, while maintaining a delicious taste that goes beyond consumer expectations.

Rainco ‘Tharageta Kuda Ihalamuda’ Season 3 declares winners

Rainco (Pvt.) Ltd, leading manufacturer of umbrellas, rainwear, mosquito nets and diverse merchandise, recently declared the winners of ‘Tharageta Kuda Ihalamuda’ consumer promotion.

Pelwatte Dairy expands 100% locally produced milk powder distribution

Sri Lanka’s 100 percent local dairy product manufacturer, Pelwatte Dairy Industries, recently expanded its distribution of milk powder to a wider customer segment in many parts of the country. These areas include Anuradhapura, Hambanthota and Mahiyanganya.

John Sea Food wins Presidential Exports Award

John Sea Food (Pvt.) Ltd, which has climbed up to the zenith of the fish export trade in the local export market, captured the victorious Presidential Exports Award held at the Bandaranaike International Memorial Conference Hall recently.

Rathna Cinnamon Exports wins Presidential Export Award

Rathna Producers Cinnamon Exports (Pvt.) Ltd secured the Presidential Award at the Presidential Export Awards held at the Bandaranaike Memorial International Conference Hall recently.

Mobitel rewards Cash Bonanza Montero Extravaganza August winner

The national mobile service provider, Mobitel’s Cash Bonanza Montero Extravaganza programme continued to reach unprecedented heights in August, witnessing a growing numbers of customers participate as a result of the exciting prizes on offer.

Mobitel achieves No.1 status in 4G LTE mobile broadband

Mobitel (Pvt) Ltd enhanced its 4G LTE network coverage by innovatively deploying its existing 900MHz spectrum.