Shares hit over four-month closing low

REUTERS:  Sri Lankan shares yesterday hit an over four-month closing low as gains in telecom shares were offset by losses in diversified stocks.

Govt. drops proposal to tax profits from share trading

REUTERS: Sri Lanka will not go ahead with a proposed tax on profits from share trading that was planned as part of a major tax reform bill, a top government official said, after the move dented investor sentiment and drove down the main share index.

Inequality becoming major concern

Following considerable progress in reducing poverty in recent years, controlling inequality is starting to become a major challenge for Sri Lanka, Hayashi said. “Inequality is becoming a larger issue for Sri Lanka because in general, upper middle income countries have the highest inequalities. 

Govt.’s indecision over ECT worries ADB

The ADB said that it was contemplating to distancing itself from the East Container Terminal (ECT) project in the Colombo Port due to delays in the government selecting finalists from the submitted expressions of interest (EOIs).

Footwear subsidiary shareholders approve Lanka Century Investments share swap deal

Shareholders of Ceylon Leather Products PLC (CLP) have approved a share swap arrangement involving its parent company Lanka Century Investment PLC (LCI) at an Extraordinary General Meeting held yesterday. 

HNB provides Rs.400mn for possible losses over investments made through Entrust

Hatton National Bank PLC (HNB) has provided as much as Rs.400 million from its group profits on account of investments made in government securities by one of its subsidiaries through the troubled primary dealer, Entrust Securities. 

Rupee ends steady in dull trade

REUTERS:  The Sri Lankan rupee closed steady yesterday in dull trade as exporter dollar sales and inward remittances offset importer demand for the U.S. currency in the absence of dollar buying by state-run banks, dealers said.

Sri Lanka likely to miss 2017 revenue goal on tax proposal delay

REUTERS: Sri Lanka is likely to miss its revenue target this year due to delays in implementing proposals set out in the 2017 budget, a top Finance Ministry official said yesterday.

Campaign Asia names Selonica Perumal in their “Top 40 Women in Asia to Watch”

Selonica Perumal, Director of Publicis, has been named as one of the Top 40 Women to Watch by Campaign Asia. Selonica joins an elite group of professional women in the marketing communications 

Mount Lavinia Hotels award winning chefs partner with Michelin Star Chef Tom Aikens

Mount Lavinia Hotel held an exclusive evening featuring the hotel’s award-winning chefs partnering with Michelin Star Chef Tom Aikens in preparing a special dinner for a crème de la crème list of 

FACETS 2017 to attract several foreign delegations

The Gem and Jewelry Industry of Sri Lanka as well as the premier platform which showcases it, the FACETS Gem and Jewelry Exhibition, has gained much international acclaim and recognition.

Sampath Bank Athletic Championship 2017

Sampath Bank Athletic Championship 2017 was held recently at the Mahinda Rajapaksa Stadium, Diyagama. Mr. Nanda Fernando, Managing Director, Sampath Bank PLC was the Chief Guest of the 

Sri Lanka – Asia’s Next Property Hotspot?

With land and house prices seeing unprecedented appreciation in 2017 alone, Sri Lanka has emerged as Asia’s new destination for attractive real estate returns with its prime beach front land

LIC Lanka to make life insurance accessible to all Sri Lankans

With the launch of its new communications strategy supported by its range of product offerings, Life Insurance Corporation Lanka Ltd. (LIC Lanka) hopes to make life insurance more accessible to all Sri Lankans.

When in the eye of a storm...

This year, yet again, flooding caused by heavy monsoon rains came and receded. Meanwhile, this year alone, more than one million people have been hard hit by the worst drought in 40 years. The media, with few exceptions, have moved on to other topics and a sense of calm pervades.  We are in the eye of the storm -- that misleading lull before mother nature unleashes her fury once again. 

When economic power is wielded by a small elite...

How did some nations, like Japan, China and United Stated become wealthy and powerful, while others remain stuck in poverty? And why do some of those powers, from ancient Rome to the modern Soviet Union, prosper for periods and then collapse?

Huawei ranked 83rd in Top 100 latest Fortune 500 list

In this year’s Fortune 500, Huawei climbed up the list to the 83rd place from the 129th of last year with a revenue of US$78.51 billion, making the top global 100 for the first time.

Shares fall for third straight day; blue chips drag

REUTERS: Sri Lankan shares fell for the third straight session yesterday, hitting their lowest close in more than four months, as investors sold heavyweights amid continuing uncertainty over a proposed tax reform bill.

HNB Assurance 2Q net profit soars on higher premiums, investment income

HNB Assurance PLC’s (HNBA) profits received a boost during its most recent quarter from a strong growth in premiums amid challenging operating conditions, while the investment incomes also grew as the company added more money to its financial investments, the interim financial accounts showed

Prospects for global trade: Growth amidst protectionism?

This month marks 10 years since the biggest meltdown in financial markets the world has seen – the global finance crisis (GFC). A decade on since then, developed and developing countries are just about getting back to normal, albeit a ‘new normal’ of tepid growth, slower trade and investment, unconventional monetary policy and strained labour and financial markets. 

5G and IoT: Ushering in a new era

We have innumerable studies that are trying to quantify and predict the material impact of the Fifth Generation (5G) and the Internet of Things (IoT). 

HNB Grameen signs MoU with Colonial Motors

HNB Grameen Finance Ltd signed a Memorandum of Understanding (MoU) recently with Colonial Motors PLC to offer attractive leasing options for Vespa and Aprilia Motor scooters. 

Gartner recognizes Virtusa as Visionary in 2017 Magic Quadrant

Virtusa Corporation, a global business consulting and IT outsourcing company announcedthat it has been positioned by Gartner Inc. in the Visionaryquadrant of the 2017 Magic Quadrant forIT Services for Communications Service Providers (CSPs), Worldwide. 

Dialog Axiata trials 5G for first time in South Asia

Sri Lanka yet again showcased its dominance as the regional hub for telecommunications with Dialog Axiata demonstrating 5G (Generation) technology for the first time in South Asia, paving the way for next generation wireless connectivity with speeds in excess of 35 Gbps (gigabits per second).  

Dufry wins tender to carry out duty free operations at BIA

Sri Lanka will award a five-year duty free retail concession to Dufry AG of Switzerland to carry out duty free operations at Bandaranaike International Airport (BIA).

Guru.lk partners SLT to offer online courses to subscribers

Guru.lk, Sri Lanka’s leading eLearning portal has signed up with Sri Lanka Telecom (SLT) country’s national ICT solutions provider, to enable SLT Broadband customers to pay for online study courses through the platform.

Eguardian Lanka launches first local technical assistance center for Fortinet Solutions

Eguardian Lanka, a value-added distributor of Fortinet cyber-security solutions in Sri Lanka, unveiled the country’s first Fortinet Technical Assistance Center (TAC) at the World Trade Center recently. 

A step towards a day when all Sri Lankans are insured

The first National Forum for Life Insurance Advisors (NAFLIA) was held on a very small scale eight years ago, as a means of providing platform of inspiration and encouragement to life insurance advisors from companies all across the island. 

Oppo gives Lankans opportunity to win Deepika Padukone autographed phone

The camera phone brand Oppo, launched an exciting competition which gives Sri Lankans the opportunity to win an Oppo phone autographed by Oppo’s brand ambassador Deepika Padukone.  A lucky fan will stand a chance to win a Oppo F3 Plus signed by Deepika Padukone by clicking the best and happening moments in a ‘Group selfie’ with his or her clique and by sharing it on the Oppo Facebook page or Oppo Instagram page with hashtag

Union Assurance June net up on higher premiums, investment income

Union Assurance PLC reported earnings of Rs.66.9 million or Rs.1.14 a share for the April-June quarter (2Q17), up 16 percent year-on-year (YoY) as the growth in premiums and investment income rose quite strong, the interim results showed.