Ceylinco Life fastest to take its Life Fund past Rs.80bn

The Life Fund of Ceylinco Life crossed Rs.80 billion in May 2017, making it the fastest-growing Life Fund in the local industry, the life insurance market leader has announced.

SLI produces 60-member contingent for USA MDRT Conference

Sri Lanka Insurance (SLI) saw 60 of its top life insurance sales achievers qualifying for the elite Million Dollar Round Table (MDRT) Annual Conference 2017 held recently in Orlando, Florida, USA. Participation at the MDRT is a seal of excellence for the public to trust, that they are working with the best in the business for life insurance solutions.

Modi set to go ahead with sale of Air India

Indian Prime Minister Narendra Modi is expected to give the go-ahead for the government to sell off loss-making Air India. It now has more than US $8 billion of debt — equivalent to the value of the company.

THASL wants members to rethink recruitment policies to attract millennials

The Hotels Association of Sri Lanka (THASL) is urging its members to rethink talent acquisition and management policies in order to make the leisure industry more attractive for millennials, as the tourism industry forges ahead on becoming the country’s leading income earner.

Ube Singapore ups stake in Tokyo Cement

Ube Singapore Holdings Pte. Ltd has upped its stake in Tokyo Cement Company (Lanka) PLC, a joint venture between Sri Lanka’s St’ Anthony’s group and Japan’s Nippon Coke. A disclosure by Lanka 

Singapore’s Somap to inject fresh capital to indebted Anilana Hotels

The indebted Anilana Hotels & Properties PLC said yesterday that Singapore-based Somap International Pte. Ltd. is currently carrying out a due diligence on the company to acquire 51 percent of its capital by way of an issue of new shares.

Motor vehicle registrations in May rebound; but down YoY

Vehicle registrations across most categories for May 2017 fell below levels experienced in May 2016 mainly due to new loan-to-value (LTV) ratio restrictions and higher interest rates, although registrations recorded a rebound from a slow April due to the extensive new Year holiday.

Record trade deficit undermines SL’s recent uptick in exports

Despite export earnings making a brisk upturn in April, extending the gains in March, Sri Lanka’s trade deficit remains at worrying levels as the country’s imports bill continues to rise. 

Sri Lanka Telecom Hosts ‘SLT Zero One Awards’ Ceremony

The 22nd of June 2017 saw Sri Lanka Telecom host the SLT Zero One Awards ceremony at the Grand Ballroom of Hilton Hotel in Colombo. The event was live telecast on PEO TV and all other

Nestomalt presents third car to lucky Ran Ratha Wasana winner

Nestomalt, Sri Lanka’s leading beverage brand for over five decades, announced the third lucky winner of its Ran Ratha Wasana raffle draw, Ms. B.W.C.K Jayasekara from Madawella, 

Blue Mountain wins 8 awards at the Asia Pacific Property Awards 2017

The Blue Mountain Group’s most iconic real estate development to date, Achilleion was recently recognized as one of the top three apartments in the Asia-Pacific region, at the Asia Pacific Property

Scan Products commends ‘Achievers of The Year’ recipients

The Scan Products Division, which comprises of the FMCG arm under C. W. Mackie PLC, held its Annual Sales Conference on the 5th and 6th of May , 2017 at the Club Palm Bay Hotel, Marawila.

Allianz Lanka Offers a Ray of Hope to Customers Affected By Floods

Sri Lanka faced one of the worst natural disasters in recent times in May this year. The floods and landslides had caused extensive damage to lives and property in 10 major districts around the island.

Coca-Cola Partners With Sri Lanka Red Cross For Emergency And Long-Term Flood Relief Operations In G

Coca-Cola Beverages Sri Lanka Ltd. joined hands with the Sri Lanka Red Cross Society - Gampaha Branch, to carry out intensive emergency disaster relief and rehabilitation activities following the

CB says Qatar-Gulf crisis could pose threat to remittance inflows

The Central Bank last week expressed concern over the prolonged diplomatic spat between Qatar and its Arab neighbours as the spillover effects of the development could hurt Sri Lanka’s biggest foreign exchange earner, worker remittances. 

IMF wants new Inland Revenue Bill in parliament to release third tranche

The International Monetary Fund (IMF), which held back the second tranche of the US $ 1.5 billion bailout package last year until the value-added tax (VAT) was raised from 11 percent to 15 percent, is now delaying the release of the third tranche until the government tables the new Inland Revenue Bill in parliament. 

Court refuses to vacate interim order on proposed sale of HNB shares to ADB

Business tycoon Harry Jayawardena last week managed to prevail against the attempts of the majority of the Hatton National Bank PLC (HNB) director board to vacate an interim order obtained by Jayawardena’s Stassen group to halt the process of gaining shareholder approval to issue HNB shares to the Asia Development Bank (ADB).

Step-up share transaction fee effective from today

A step-up share transaction fee structure introduced by the Colombo Stock Exchange (CSE) will come into effect today, the CSE said last week.

Laugfs forms subsidiary to carry out residential apartment projects

Sri Lanka’s diversified private sector cooking gas distributor said it has incorporated a subsidiary to undertake residential apartment complex projects.

Arpico plays lead role in flood relief efforts

With the disasters that arose in several parts of the country, Arpico CSR was activelyinvolved in helping those adversely affected by floods and landslides. 

Celebrating friendship on Eid!

Two Muslim men take a selfie after Eid al-Fitr prayers to mark the end of the holy fasting month of Ramadan in Colombo, yesterday (Reuters)

Fintech poised for mainstream adoption on a global scale: EY

Levels of financial technology (fintech) adoption among consumers has surged globally over the past 18 months and is poised to be embraced by the mainstream, according to the latest EY FinTech Adoption Index. An average of 33 percent digitally active consumers across the 20 markets in the EY study, now use fintech.

Fairway Holdings acquires Multi Finance

Fairway Holdings, a rapidly diversifying conglomerate, recently acquired Multi Finance PLC under its umbrella with a view to giving this erstwhile financial institution that is known for its trust for 42 years and excellent array of financial services a veritable boost to serve its clients even better.

Commercial Bank launches needs-responsive disaster relief programme

A comprehensive multi-level assistance programme designed to help families affected by the recent floods to recover from their ordeal has been launched by the Commercial Bank of Ceylon.

NDBIB becomes first Lankan investment bank to manage an offshore IPO

NDB Investment Bank (NDBIB) successfully raised US $ 28 million (Rs.4.2 billion) via the initial public offering (IPO) of Ooredoo Maldives PLC, a subsidiary of Qatar-based international telecommunications giant Ooredoo Group, which is present in over 10 countries with a total subscriber base of over 138 million.

findmyfare.com wins big at SLT Zero One awards

Sri Lanka’s largest online travel company ‘findmyfare.com’ recently won awards for ‘Best Website’ and ‘Best Digital Enabled Product’, in the ‘Travel and Leisure’ category, at the prestigious SLT Zero One awards.

Financial literacy: Only if they know how to manage risk, they can win

Even if Sri Lanka is well ahead of other regional counterparts, in terms of literacy rate, people in the country don’t have much financial literacy, 

Sampath Bank named ‘Most Innovative Bank’ at LankaPay Technnovation Awards

Continuing to win accolades for its spirit of innovation, Sampath Bank was recognized as Sri Lanka’s ‘Most Innovative Bank’ at recently held LankaPay Technnovation Awards 2017.

Kantala launches crowdfunding campaign

Sri Lankan fashion accessory brand – Kantala – has launched its latest range of vegan fashion accessories, via the crowdfunding platform, IndieGoGo, catering to the fashionable yet conscious consumer.

Amãna Bank to hold EGM on July 4

Amãna Bank will be holding an extraordinary general meeting (EGM) on July 4, 2017 in order to get the shareholder endorsement for the bank’s forthcoming rights issue.