Hirdaramani Woven Puthukudiyruppu factory achieves Leed Platinum status

Hirdaramani Woven Puthukudiyruppu was awarded the Leed Platinum certification established by the US Green Building Council and verified by the Green Building Certification Institute (GBCI). 

One Verge Holdings renews partnership with India’s Apalya Technologies

One of Sri Lanka’s second generation digital companies – One Verge Holdings (Pvt) Ltd recently renewed its partnership with pioneers of mobile video streaming, Apalya Technologies (Pvt) Ltd that has presence in over 11 countries across South and South-East Asia, Middle East and Africa. 

idea2fund’s Bakamuna collaborates with Theatre Junction on musical

Bakamuna recently collaborated with Theatre Junction as the official design partner for the contemporary musical ‘Cinderella’ which concluded on August 1st. 

Ceylon Chamber presents proposals to fast-track PPPs under new agency

The Ceylon Chamber of Commerce’s National Agenda Committee on Infrastructure presented a set of recommendations on fast-tracking Private-Public Partnerships (PPP) to the Minister of Finance and Media Mangala Samaraweera recently, and highlighted the need for a robust institutional and operational set up for the new PPP agency.

Korea Eximbank completes feasibility study on ICT hub establishment

The Export-Import Bank of Korea (Korea Eximbank) has completed the KSP-ADB Joint Consulting Programme for establishment of an ICT hub for secondary education project. 

BOC introduces multi-currency pre-paid travel card

Power-up your wallet with the ‘BOC Travel Card’ as your most trusted companion before you begin your foreign tour wherever you would want to go. 

Cinnamon Future of Tourism Summit to explore technology, innovation and authenticity

The Cinnamon Future of Tourism Summit will be held on 26 September as a one-day conference that will deliberate and draw examples from the best practices around the world on the theme ‘Innovation, Technology and Authenticity’. 

Emirates recognised in FTE Airline Passenger Experience Power List 2017

Emirates has been recognised in the Future Travel Experience (FTE) Airline Passenger Experience Power List 2017. 

Taxes in international trade: Half of total tax revenue in 2016

Year after year, Sri Lanka continues to rely heavily on foreign trade taxes as a key source of government revenue and the latest fiscal numbers for 2016 show that this trend has not abated. Taxes on foreign trade accounted for 50.5 percent of the total tax revenue generated in 2016 and a handful of import tariff lines contributed the bulk of import duties.

Central Bank conducts first treasury bonds auction under new system

The CBSL conducted its first Treasury Bond auction under the new issuance system on July 27th.  The new transparent hybrid system draws on the strengths of a market based auction system, while accommodating the compulsions of having to raise Rs 1 trillion worth of bonds in a relatively thin market to meet the government’s borrowing requirement in 2018.

Virtusa recognized for ‘Best Use of CSR Practices’ at Sri Lanka CSR Leadership Awards 2017

Virtusa Corporation received the award for Best Use of CSR Practices in the IT Industry at the Sri Lanka CSR Leadership Awards 2017 held at the Taj Samudra recently.

John Keells Hotels June quarter in red due to resort refurbishments

John Keells Hotels PLC (KHL), the hotel and resort operator of Sri Lanka’s largest business conglomerate John Keells Holdings PLC, posted a Rs.230.94 million net loss for the first quarter of 2018, nose-diving from a Rs.83.93 million net profit year-on-year (YoY) due to refurbishments and reconstruction.

Amana Bank June profit up on stretched margins but sour loans expand

Amana Bank PLC, Sri Lanka’s first non-interest based Islamic bank reported an earnings of 7 cents a share or Rs.85.2 million for its most recent quarter ended in June 30, 2017 (2Q17) as it managed to stretch its margins but the doubtful and sour loans increased, the interim results showed. 

IndiGo appoints Hemas Aviation as General Sales Agent for Sri Lanka

In its endeavour to expand and strengthen its presence in international markets - IndiGo, India’s largest and fastest growing low-cost carrier has today announced the appointment of Hemas Aviation as their General Sales Agent (GSA) in Sri Lanka. 

Vietnam delegation to hold biz forum, B2B meetings at CCC

A 24-member business delegation organized by the Ministry of Industry and Trade Vietnam will be visiting Sri Lanka this month. 

PayMedia wins big at Disrupt Asia 2017

Over the past couple of years, Sri Lanka has seen an immense growth in its startup ecosystem, producing a number of startups that have gained a competitive edge in the global market Amongst these top players was DirectPay,a part of PayMedia ,specialized in embedded and unique software solutions for the finance industry.who were recently recognized as the runner up for their innovative solution ‘DirectPay’ at the  Hemas Slingshot

Generation Next Singapore appoints Rajeev Gooneratne as CEO for Sri Lanka

Generation Next Communications Pte Ltd., ( GENXT), Singapore a leading mobile & IT distributor within Asia has appointed Rajeev Gooneratne as their new Chief Executive Officer to head the 

DFCC Bank recognised at Germany’s Karlsruhe Sustainable Finance Awards For 5th Consecutive Year

DFCC Bank was awarded a Certificate of Merit for “Outstanding Business Sustainability Achievement” at the Karlsruhe Sustainable Finance Awards organised by the Global Sustainable Finance Network 

Sadaharitha Plantations celebrates 15 years of operations

In August this year, Sadaharitha Plantations will celebrate 15 years of enhancing Sri Lanka’s forest cover by encouraging over 26,000 investors to grow trees as a long and mid-term lucrative investment. 

Maskeliya Plantations offers plantation executives brand-new motorcycles

Maskeliya Plantations PLC and Namunukulla Plantations PLC, which are owned by Richard Pieris Group of Companies, allocated brand-new motorcycles to the assistant superintendents of the respective estates coming under these two plantation companies recently.

Veteran stories from 150 years of Pure Ceylon Tea

Having travelled the plantations extensively, during the 1950s as a schoolboy, with some of his kinsmen, who were already in the tea industry, Jayantissa Ratwatte was a frequent visitor to the island’s hill country tea plantations and so the transition from books to tea was quite an organic one.

A mess as old as time: Economic cost of natural disasters in Sri Lanka

The recent floods in Sri Lanka, triggered by the monsoon rains, affected over 700,000 people in 15 districts, killed over 200, fully destroyed over 2,000 houses and partially damaged around 12,529 houses. In addition to the recurring downpours, Sri Lanka has also experienced similar environmental crises due to droughts and landslides in recent years. 

Amazon everywhere: E-commerce titan is a topic companies can’t avoid

What looms over businesses as far flung as car repair, lab equipment and swimming pool gear? In a word, Amazon.

Complacency, but not where you expect it

A recurring theme among some market observers is how complacent the equity investors are today. A statistic often used as evidence is the US S&P 500 market-implied volatility or VIX, index. When this is low,

Euromoney crowns NDBIB as Sri Lanka’s Best Investment Bank again

Repeating its feat for the sixth consecutive year, NDB Investment Bank (NDBIB) was once again crowned as ‘Sri Lanka’s Best Investment Bank 2017’ by the prestigious Euromoney Magazine.

Insurance industry records 17% GWP growth in 1Q

The insurance industry recorded a growth of 17.10 percent, in terms of gross written premium (GWP), during the first quarter of year 2017 when compared to the same period in the year 2016. 

Standard Chartered introduces mobile wallet payments

Standard Chartered, in its most recent innovative affiliation, introduces Straight2Bank Wallet in partnership with Dialog Axiata’s eZ Cash platform to expand the cashless payment services.

NTB Amex promo to offer all-expenses paid holiday

Nations Trust Bank (NTB) American Express (Amex) cardmembers now stand a chance to win an all-expenses paid holiday of a lifetime to explore the world and experience the best it has to offer by simply using their cards for all purchases from July 1 to October 31, 2017 to meet the minimum spend thresholds. 

ComBank cardholders to enjoy massive discounts

Commercial Bank’s credit and debit card holders can stay at fancy hotels, purchase lifestyle electronic products, watch movies and enjoy online deals all at discounted rates offered throughout August and also enjoy zero percent interest offers from over 150 merchants islandwide throughout the year. 

Seylan Bank June net up 25% but asset quality weakens

Seylan Bank PLC reported earnings of Rs.3.74 a share or Rs.1.32 billion for the June quarter (2Q17), recording an increase of 25 percent year-on-year (YoY) amid weaker growth in loans, compressed margins and higher loan loss provisions, the interim results of the bank showed.