Sanasa Insurance uplifts lives of needy with unique ‘Sanasa Movement’

Created by the society, with the society, and for the society, ‘Sanasa movement’ is truly the largest and one-of-its-kind in the country with an ever-increasing membership. 

Vision Care to buy Colombo City Holding’s Union Place land for Rs.1bn

Colombo City Holdings PLC, a property management company, yesterday said it entered into a sales agreement to divest part of the land it owns in Union Place, Colombo 2, which is commonly referred to as the Colombo Pharmacy land, for Rs.1 billion, to Vision Care Optical Services (Private) Limited. 

H’tota port sale only temporary fix as external woes persist: Moody’s

Despite the Hambantota port deal would provide a temporary respite to the country’s ailing external sector by way of boosting its foreign exchange reserves, such proceeds by no means would be adequate to alleviate the medium-term challenges that are far more acute, given Sri Lanka’s higher debt obligations, according to Moody’s Investors Service.  

Sakura International expands business from new location

Sakura International, as a reputed organization, is known for its ability to supply comprehensive solutions in any commercial equipment that would be needed for a hotel from its entrance towards the backend which would include bakery, catering & cold rooms, kitchen or other storage facilities.

SampathCards offer savings on Damro furniture

Continuing to provide irresistible deals, SampathCards, the responsible choice, announced that it has partnered with Damro to make furniture and appliances more affordable for its cardholders, yet again. 

SAP demonstrates power of digital transformation to Lankan businesses

SAP SE organized ‘Digital Transformation Forum’ and ‘Design Thinking Workshop’ for Sri Lanka’s leading corporates in Colombo  respectively showcasing the power of SAP solutions including SAP S/4HANA and introducing the philosophy of  Design Thinking.

Ford brings clean drinking water to Kattumurivu village

Ford Motor Company, together with its local distribution partner, Future Automobiles (Pvt) Limited, a subsidiary of Softlogic Holdings PLC, collaborated with World Vision Lanka (WVL) to provide safe drinking water to 223 families in the Kattumurivu Village, Vaharai.

President appoints Channa Wijesekara as TVEC member

President Maithripala Sirisena has appointed Channa Wijesekara as a Member of the Tertiary and Vocational Education Commission (TVEC) on 14 July for a period of four years at the request of Skills Development and Vocational Training Minister Chandima Weerakkody. 

Janashakthi recognized for commitment to society at Fintelekt Insurance Awards

Janashakthi Insurance PLC was recognized for its work as a responsible corporate citizen at the Fintelekt Insurance Awards 2017 held in Mumbai, India, recently.

Insurance law to be amended to free foreign and state insurers from listing

A new legislation gazetted by the Finance Ministry is attempting to amend the Regulation of Insurance Industry Act No. 43 of 2000 to allow insurance subsidiaries of foreign firms and state-owned insurance companies to be exempted from listing on the local stock market.

Fitch cuts Lion Brewery’s rating amid lower beer sales, higher taxes

Fitch Ratings yesterday downgraded the credit rating of Sri Lanka’s largest brewer, Lion Brewery (Ceylon) PLC, amid lower beer sales as a result of the higher taxes imposed by the authorities over the last 18 months.

Hemas Slingshot Startup Battle winners announced at ‘Disrupt Asia’

Hemas Slingshot, the startup incubator and seed accelerator programme of Hemas Holdings PLC, announced the winners of the Hemas Slingshot Startup Battle at the culmination of Disrupt Asia 2017 earlier this month. 

Should BOI be shut down?

Justice Minister Dr. Wijeyadasa Rajapakse very boldly stated at the Sri Lanka Economic Summit on Wednesday that the Board of Investment (BOI) should be shut down. The BOI is Prime Minister Ranil Wickremesinghe’s brainchild and an offshoot of the Greater Colombo Economic Commission 

Alert SriLankan cabin crew members avert major incident onboard UL 166

Alert cabin crew members aboard SriLankan Airlines’ flight UL 166 managed to avert a major incident that is believed to have been caused by the ignition of a lithium battery pack or mobile phones in a passenger’s hand luggage. The incident reported on July 30, when the flight was en route to Colombo from Kochi.

SEC and CSE conduct capital market forums in Negombo

The Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) commenced a series of Investor Forums titled ‘Kotas welenda pola: nagarayen nagarayate’  with a view to showcasing the benefits of investing in the capital market to the general public. 

Thailand’s Rojana to set up industrial zone in Kalutara next year: Sujeewa

The work on the proposed industrial zone in Kalutara by the Thai-based company, Rojana, on a 1000-acre land, which will have about 200 factories, is likely to start by next year in October, International Trade State Minister Sujeewa Senasinghe said. 

Dazed and duped by drugs – Sri Lanka keeps missing out on real opportunities

A recent discussion on combating substance abuse and its prevalence raised several interesting issues – matters that must require public interest, discussion and debate to generate sensible action. 

Lankaputhra Development Bank provides loan facilities for orchid cultivation

Lankaputhra Development Bank has come forward to provide loan facilities to entrepreneurs who are already engaged in the orchid industry and who intend to grow orchid.  

Three perfect curries with one mighty Sera

In today’s fast-paced world, preparing meals after a hard day’s work can be tiring, costly and a full-on hassle. We all struggle with balancing our many tasks and responsibilities all whilst trying to manage 

Pan Asia Bank bottom line narrows 12% during June quarter

The mid-sized bank, Pan Asia Banking Corporation PLC, has reported a decline in its profits for the April-June quarter amid higher cost of funds and poor asset quality in a higher  interest rate environment. 

Amãna Takaful relocates Akkaraipattu branch

Amãna Takaful PLC (ATL), the only fully-fledged Takaful operator in the country and the flag bearer of the Takaful way of insurance in Sri Lanka, recently relocated its Akkaraipattu branch with the intention of serving its customers better. 

Union Assurance bags Global Master Brand Status 2017-2018

Union Assurance PLC (UA) was acknowledged with the Global Master Brand Status for the period of 2017 – 2018 at the first-ever Master Brand Award ceremony organised in Sri Lanka, which was held recently, at Taj Samudra, Colombo.

CSE branch-wide educational drive gathers momentum

The branch-wide investor education campaign conducted by the Colombo Stock Exchange (CSE) has been well received over the first half of the year, with over 350 educational and awareness initiatives conducted in 2017. 

Sampath Bank offers best leasing rate in market

In continuing to offer its customers the best leasing solutions in the market, Sampath Bank has once again introduced the lowest vehicle leasing interest rate in the country. 

Morgan Stanley, RBC, others settle currency rigging lawsuit in U.S.

REUTERS: Morgan Stanley, Royal Bank of Canada and three other banks agreed to pay a combined US $ 111.2 million to settle U.S. litigation accusing them of rigging prices in the roughly US $ 5 trillion-a-day foreign exchange market.

Fairfirst Insurance wins Medical Insurer of the year once again

For the second consecutive year, Fairfirst Insurance, the market leader for health insurance, won the title of Excellence in Medical Insurance, at the Fintelekt Insurance Industry Awards held in Mumbai recently. 

Women in Lankan workforce: Dissecting education and female labour force participation

There has been renewed interest among policymakers to get more women to enter the workforce. Most solutions for encouraging women to enter the labour market look at helping women balance home and market activities through initiatives such as expanding access to day care facilities and providing more flexible work opportunities. 

When vulnerability begins to generate strength, leader’s innate courage surfaces

You probably know of some managers who are brilliant at engaging people but you’re not sure quite why those people are so good. The earlier instalments of this series could have helped you up to a level to understand why. They provided some basic understanding of how to engage your work team members and staff effectively. 

Emerald International Partners with CIM Sri Lanka

The Chartered Institute of Marketing (CIM) Sri Lanka entered into its second year of Corporate partnership with Emerald International (Pvt) Limited, one of the leading menswear bran

Hayleys Advantis invests in mega distribution centre

Hayleys Advantis Limited broke ground for a mega distribution centre (DC) in Kotugoda last week, paving the way for the construction of the largest facility of this nature in the country with a foot print in excess of 500,000 sqft.