Ceylon Index Fund emerges top performing fund in 1H 2017

The Ceylon Index Fund (CIF) that invests in blue chip, liquid companies listed on the Colombo Stock Exchange (CSE) has emerged as the top performing Unit Trust out of all 78 mutual funds in Sri Lanka during the first half of 2017. The fund reported a performance of 15.57%* during the first six months of 2017. The ASPI gained 8.33%** during the same 6 month period. CIF is classified as an open-ended Equity Index Fund by the Unit Trust Association

Pathfinder-SIIS roundtable discussion explores new areas of cooperation

While discussing ways and means of achieving sustainable development invigorated by the Belt and Road Initiative (BRI) of China participated by 65 countries, the Pathfinder Foundation (PF) and Shanghai Institutes for International Studies (SIIS) during a roundtable discussion focused on exploring new areas of cooperation with China and managing international and regional forces to promote the country’s economic interests. 

Crysbro Praja Aruna provides shelter and renovation assistance to employees

Crysbro Group well-known for quality, freshness and innovation in breeding and processing of chicken in Sri Lanka successfully held once again its annual Praja Aruna CSR programme for the period 2016-17 CSR recently.

Seylan Pahasara 131st library opens

Seylan Pahasara 131st library was successfully equipped and handed over to the students of Pannala National School in Kurunegala District. Over 3000 students and teachers at the school will benefit out of this facility which include access to internet, e-learning together with other upgraded infrastructure.

Ceylinco Life launches ‘Conduct Risk’ training to promote TCF principles

Ceylinco Life has engaged two international consultancy firms to conduct special training programmes on Treating Customers Fairly (TCF), also termed ‘Conduct Risk’ in the financial services industry. 

AIA’s wealth planners in Miami for President Club

Seven of AIA’s top performing Wealth Planners and Wealth Planners’ Managers travelled to Miami, USA together with the Best Distribution Head for the President Club (2016).  The President Club is the most prestigious event organized by AIA Group for AIA’s top achievers, worldwide and this year’s event was held at the Ritz Carlton.  Sri Lanka’s winners were selected based on the highest levels of performance

Fuelling business with biomass energy

Mahir Brothers in Katugastota, in the Matale District, is one of Sri Lanka’s leading exporters of spices, namely nutmeg, pepper, cloves and cocoa. For the past three generations, Mahir Brothers has tried to maintain the consistency of its produce, sometimes travelling far distances in order to dry its spices when the rains inundated the Matale District.

Sustainability key driver of corporate success : Eardley Perera

Sustainability is a key driver of corporate success and no longer a buzz word, says Eardley Perera, Chairman of the Panel of Evaluators of the Best Corporate Citizen Sustainability Award 2017. “Sustainability is no longer a buzz word. Today, it is a key driver for corporate success, corporate and product brand equity. 

Hayleys Puritas Sathdiyawara continues rejuvenation of rural communities

Leading the charge in the fight against chronic kidney disease of uncertain etiology(CKDu), the Hayleys Group has been actively combating the spreading of the disease through the installation of reverse osmosis plants all across Sri Lanka’s dry-zone under its flagship CSR programme, Puritas Sathdiyawara.

HNB collaborates with EDB to launch new SME export credit facility

Sri Lanka’s most innovative bank, HNB PLC working in close collaboration with the Export Development Board of Sri Lanka (EDB) announced the launch of HNB SME Export Credit, a pioneering new facility specially designed to meet the requirements and aspirations of Sri Lanka’s burgeoning Small and Medium Enterprise (SME) sector.

DMS Software Technologies to modernize local supply chain landscape

DMS Software Technologies and Oracle with the intention of meeting today’s market needs, recently hosted experts from the supply chain and logistics sector at the Movenpick Hotel on the event themed ‘Modern Logistics Management’. 

National Insurance Day 2017 - A Historic Moment Never to Be Forgotten

The 1st of September 2017 saw the entire Insurance industry of Sri Lanka celebrate a day dedicated solely to their profession. The launch of Sri Lanka’s first National Insurance Day took place at the 

Mastercard Makes Luxury Travel Experiences Simpler with LoungeKey Airport Access Program

Mastercard announced the extension of the globally acclaimed LoungeKey airport access program to all World and PlatinumMastercard cardholders in Sri Lanka.

3W Group celebrates 20 years of driving change

The 3W Group (Third Wave Group), is celebrating 20 years driving innovation and change in the corporate and retail sectors in Sri Lanka and the region.

Tech-based solutions essential for insurance industry growth: start-up

Despite the fierce competition in the market, Sri Lanka’s insurance industry has largely remained conventional in its business operations for decades. Earlier this year, however, signs of an eminent disruption appeared with online insurance aggregators and comparison platforms entering the market. Save Your Monkey is one such pioneering insurtech start-up that’s promising to disrupt the conventional insurance industry through digitali

Allianz Lanka caters to growing customer needs with new office

Allianz Lanka, in a bid to provide its customers with greater access to its world-class services, opened a new city office at No: 251, Dharmapala Mawatha, Colombo 7.

Sri Lanka needs more women in workforce

The current female labour force participation in Sri Lanka is around 36 percent. This means that a disproportionate majority of women still remain outside the labour market, with limited or no access to wages, pensions and other benefits tied to gainful employment. 

Rupee depreciation - Implications to economy

Because transactions are made in US dollars in international trade, the value of the rupee is measured against the US dollar. Any country engaged in importing and exporting activities has to buy US dollars for its transactions in the foreign exchange market, the market where currencies are exchanged. 

Whither Trump’s Asia policy?

In November 2017, there was a great deal of uncertainty about the newly elected US President Donald Trump and his approach to foreign policy. Nine months later, there is little evidence that the 

Navesta opens Sri Lanka’s first sterile pharmaceutical manufacturing plant

Navesta Pharmaceuticals Private Limited has set the benchmark for the local pharmaceutical manufacturing sector by opening the country’s first sterile pharmaceutical manufacturing plant in Horana.

Dengue Killer and Maduruthala Dhoopa hit market chasing away mosquitoes 

Two fine solutions to provide protection from the dengue epidemic that has hit hard Sri Lanka bringing about the highest death rate recently, have been introduced to the market by Irahanda Weda Gedara.

Mobitel organizes MedHack, first-ever Medical Hackathon in Sri Lanka

MedHack is Sri Lanka’s first ever Hackathon for the health sector organized by Mobitel, the National Mobile Service Provider of Sri Lanka, in collaboration with the Ministry of Health, Nutrition and Indigenous Medicine and the ICT Agency of Sri Lanka. 

Tea veteran wants plantation industry out of State control

Dilma founder Merrill J Fernando has asked the government to avoid meddling with plantations and allow an independent authority led by ex-planters to run the industry, as the ‘golden shareholder model’ introduced three decades ago has failed to find answers to the key issues plaguing Sri Lanka’s plantation industry. 

Indra Traders MD appointed to Sampath Bank board

Indra Traders (Pvt) Ltd Managing Director Rushanka Silva was appointed as a Director of Sampath Bank PLC last week, replacing Ranjith Samaranayake, who retired after reaching his 70th birthday.

Fitch doubts earnings alone will put PABC on top of minimum capital

Pan Asia Banking Corporation PLC (PABC) now operates with a single mission of meeting its minimum regulatory capital base of Rs.10 billion by January 1, 2018 to make good on the promise it made to the regulator a couple of years ago since it pledged its commitment to a capital augmentation plan comprising of both fresh equity and retained earnings.   

Norway’s wealth fund seeking to narrow bond portfolio

REUTERS: Norway’s US $990 billion sovereign wealth fund, the world’s largest, this week proposed to streamline its fixed-income portfolio by shortening maturities and cutting corporate bonds and some 20 currencies from the benchmark it tracks.

Nigeria exits recession as economy grows 0.6% in 2Q

AFP: Nigeria has exited its worst economic recession in more than two decades, notching up growth of 0.55 percent in the second quarter of 2017, the National Bureau of Statistics (NBS) said yesterday. Data showed that the economic recovery was driven by improved performance of oil, agriculture, 

LVL Energy Fund announces plans for Rs.1.2bn IPO

LVL Energy Fund Limited (LEF), a subsidiary of Lanka Ventures PLC, has applied for a Rs. 1.2 billion initial public offering (IPO) at the Colombo Stock Exchange to expand its investments and settle existing debt.

Rain and winds lash several districts

A couple at Galle Face, Colombo, struggles to brave the heavy rains with two feeble umbrellas. Several provinces in the country are experiencing a heavy rainfall with some areas inundated and creating the risk of landslides

Industry stalwarts positive on investment opportunities at Investor Forum Sri Lanka

Sri Lanka needs better investor friendly legislation to attract more foreign investors – was the general consensus by industry experts at the recently concluded Investor Forum Sri Lanka, organized by the leading property website LankaPropertyWeb.com and leading realtors RB Realtors and Consultants that was held at The Kingsbury.