CMA holds CPD seminar on NOCLAR

The Institute of Certified Management Accountants of Sri Lanka (CMA) conducted a CPD seminar on ‘Setting the tone in a changing landscape’ recently, at the CMA auditorium.

Americares donates multipurpose first-aid boxes

At the request of the Disaster Preparedness and Response Division of the Ministry of Health, the relief and development organization Americares donated multipurpose first-aid boxes to be used by field staff in the Kaluthara District. Several samples of the boxes were handed to the Director General of Health Services (DGHS) in Sri Lanka at the Ministry of Health in Colombo.

Govt. imposes capital gains tax barring listed shares

The government has surreptitiously re-introduced the capital gains tax (CGT) under the new Inland Revenue Act, which was passed in Parliament last week, but it will not apply on the gains made from share sales of listed companies.

August tourist arrivals up 2.5%, Chinese market slows

Slower than  usual tourist arrivals from East Asia led by the key Chinese market weighed in on the total arrivals in August to Sri Lanka, but visitors from South Asia made up for the shortage with higher number of Indians visiting its neighbouring island.

Recurrent price hikes push Ceylon Tea to niche category

Ceylon Tea has shifted to the niche category, which is less that 20 percent of the global tea trade, due to recurrent price hikes at the Colombo tea auctions owing to short supply, the head of a listed tea exporting company in the country said.

Mano Sekeram resigns from BOC board after short stint

IT industry professional Mano Sekeram has resigned from the board of directors of state-owned Bank of Ceylon (BOC) with effect from September 5th, 2017, citing personal reasons.

Malaysia’s Axiata to buy Pakistan telecom towers firm for US $940mn

REUTERS: Malaysian telecommunications firm Axiata Group’s infrastructure unit is buying telecom towers in Pakistan for US $940 million in partnership with a local conglomerate, in what will be one of the biggest deals in the South Asian nation.

CIC’s Rs.2 billion agri-investment to boost Lankan economy

Sri Lanka’s long-standing leader in agriculture – the CIC group – has elevated the country’s agriculture sector via futuristic investments amounting to over Rs.2 billion, which are now infusing state-of-the-art technology into the industry, thereby making an enduring impact on the livelihoods  of farmers.

People’s Bank digitalization drive strengthens digital footprint

Since its inception 56 years ago, People’s Bank has supported customers across the country with practical and convenient financial products and services that meet their unique needs and uplift their lives. 

New York regulator fines Pakistan’s Habib Bank US$225mn for compliance failures

REUTERS: The New York State Department of Financial Services last week said Pakistan’s Habib Bank had agreed to pay US$225 million to settle an enforcement action brought against it for infringing laws designed to combat illicit money transfers.

ComBank announces special rentals during 3-month ‘Leasing Vaaré’

The Commercial Bank of Ceylon has declared September to November as the ‘leasing season’ and will help customers celebrate by offering extra special interest rates during these three months.

Global logistics services provider gears to capitalise on opportunities Sri Lanka presents

Sri Lanka has captured the interest by one of the world’s top three supply chain and logistics service providers, Damco.

Gulf Air increases Moscow service with daily flights

Gulf Air today announced it will increase its Moscow service from four weekly to daily flights with a new operating schedule that will come into effect in the last weeks of October, coinciding with the airline’s three-year anniversary of direct, non-stop service to/from Domodedovo International Airport in Russia.

IOSL and CIM Sri Lanka conclude workshop for marketers in shipping and logistics industry

The recent workshop conducted by the IOSL (Institute of Shipping and Logistics) was very successfully completed at Hilton Colombo, with a very well attended audience representing the Shipping and Logistics Industry.

Emirates Flight Training Academy receives delivery of first training aircraft

Emirates Flight Training Academy, the state of the art flight training facility being developed by Emirates to respond to the global aviation industry’s need for pilots, has taken delivery of its first two Cirrus SR22 G6 training aircraft in Dubai. 

AmãnaTakaful rescues sunken vessel off Hambanthota port

Once again Amãna Takaful came forward and compensated a fishing vessel that met with unfortunate sinking incident off the port of Hambanthota. 

Tea Board Chairman to deliver keynote at 163rd Planters’ Association AGM

The 163rd annual general meeting (AGM) of the Planters’ Association of Ceylon, one of the plantation sector’s most important gatherings, is scheduled to take place at Galadari Hotel, Grand Ballroom, on September 22, 2017. 

CCC’s Sri Lanka-Pakistan Business Council hosts Lahore Chamber delegation

The Sri Lanka-Pakistan Business Council of the Ceylon Chamber of Commerce (CCC) hosted a delegation from the Lahore Chamber of Commerce and Industry (LCCI) recently.

Eran to speak at CCC seminar on new Inland Revenue Act

The Ceylon Chamber of Commerce (CCC) will hold a seminar on the newly passed Inland Revenue Act today, which will be addressed by Finance State Minister Eran Wickramaratne.

SLID to converse with Anjana on ‘moving an idea to execution’

On Thursday, September 21, 2017, the Sri Lanka Institute of Directors (SLID) will chat with Anjana Reddy, who will be sharing her journey as a young fourth generation female entrepreneur who ventured out of the family business and successfully built three clothing brands and was named in the Forbes’ magazine’s 2017 list of 30 under 30. 

Dr. Tan to give keynote at ABAF 2017

Former Singularity University Ambassador Dr. Clarence Tan will be giving the keynote address at Asian Business Angel Forum (ABAF) 2017, to be held in Sri Lanka for the first time on October 11, 2017.

EDB to present 21st Presidential Export Awards

The 21st Presidential Export Awards (PEA) organised by the Sri Lanka Export Development Board (EDB) will be held on Thursday, September 14, 2017, at 10:00 a.m., at the Bandaranaike Memorial International Conference Hall (BMICH). 

CCI and Sampath Bank launch Affinity Master Card

The Chamber of Construction Industry Sri Lanka (CCI), as the apex representative body of the construction industry stake holders, together with Sampath Bank PLC launched the CCI branded Affinity Master Card at a ceremony following their Annual General Meeting on the 07th September at Galle Face Hotel

Bangladesh calls for FTA next year

As Sri Lanka-Bangladesh trade continued its steady climb, a top Bangladeshi Minister has recently issued a high-level call for a speedier Free Trade Agreement with Sri Lanka, to conclude as early as next year. 

World tourism numbers post biggest first-half rise since 2010: UN

AFP: International tourist numbers grew 6.4 percent in the first half of 2017, the strongest half-year figures in seven years, with Mediterranean destinations posting double-digit growth, the UN World Tourism Organisation said this week.

China’s fifth-largest bank downgraded to junk status

AFP: China’s fifth-largest state-owned bank has had its credit rating downgraded to junk status by Moody’s, the latest sign of fragility in the country’s financial system.

Euro presses higher against dollar, Asia markets cautious

AFP:  The euro extended its gains in Asian trade yesterday as traders bet on the European Central Bank winding in its huge stimulus programme, while equity markets ended a volatile week mostly in the red.

Corruption fuelling ivory trade in Central Africa: study

AFP: Sophisticated international trafficking of ivory in Central Africa is being fuelled by high levels of corruption, according to a report published Thursday.

Rupee ends weaker on importer dollar demand

REUTERS:  The Sri Lankan rupee ended marginally weaker yesterday as importer dollar demand outpaced selling of the U.S. currency by exporters and banks, dealers said. 

Kirklees Estate sets all-time record price for tea

At the Colombo Tea Auction of 6th September 2017, Kirklees Estate had the proud distinction of establishing an All Time Record Price of Rs.700 for a Dust No-1 Grade in the Uda Pussellawa category. This line of tea was purchased by M/s. Watawala Tea Ceylon Limited.