SriLankan Airlines further strengthens presence in India

SriLankan Airlines will further strengthen its position as the largest foreign carrier into India with the launch of services to three more cities – Hyderabad, Visakhapatnam and Coimbatore – in July 2017, increasing to 14 the number of cities in the vast Indian market.

Singapore Airlines, SilkAir offer special one-way, one-year return fares

Singapore Airlines (SIA) together with SilkAir, the regional wing of SIA, offers attractive one-way and one-year fares on Economy Class to some of the most exciting destinations. 

Emirates’ new First Class product to be unveiled in November

Emirates has confirmed that its new First Class product will be showcased at the Dubai Air Show in November. Making its debut onboard a Boeing 777-300ER, Emirates’ new First Class cabin will feature six private suites laid out in a 1-1-1 layout, compared to the existing eight private suites in a 1-2-1 layout on its existing 777 fleet.

Qatar Airways Fy16/17 net profit up 22%; revenue up 10%

Qatar Airways this week released its annual report for the fiscal year 2017 (April 1, 2016 to March 31, 2017) revealing a 21.7 per cent year-on-year net profit increase. The results also show an annual revenue increase of 10.4 percent.

Kuwait Airways offers up to 50% off on European/US destinations

Kuwait Airways, the national carrier of the State of Kuwait, has reintroduced the much-hyped Big Sale offer valid for sale until June 15, 2017 and to travel before December 31, 2017. 

SIA to boost Paris services to 10 times weekly

Singapore Airlines (SIA) will be increasing the flight frequency to France’s capital city Paris to 10 per week from the current seven during the Northern Winter operating season (October 29, 2017 to March 24, 2018).

Athureliye Rathana Thera on a collision path with govt

MP Athuraliye Rathana Thera, a key architect of the January 8 revolution, said his dreams to get good and valuable things done from the present government were shattered and he is now left with only one dream and that is to prevent the government from at least making any harmful decisions.

Microinsurance in Sri Lanka: Big opportunities, small outreach

“I have not thought of buying an insurance policy until I listened to one of the agents who built the trust in me and impressed me with a clear explanation on the benefits it offers for different events such as illnesses, financial safeguard for retirement, non-claim bonus, etc.” – Microinsurance policyholder

Environmental organisations respond to small hydropower developers

Following is a response from Environmental Foundation Ltd (EFL) and the Wildlife and Nature Protection Society (WNPS) to the article ‘Small hydropower industry debunks negative theories’ published in Mirror Business, on May 30, 2017.

NDB Wealth launches Private Wealth Centre

NDB Wealth recently relocated its office to a spacious and purpose- built new facility to service its private wealth clients. 

ComBank launches ‘Digital Banking Week’ to promote digital services

The Commercial Bank has commenced a week-long push at nine key branches to promote the use of the bank’s digital banking platforms such as online banking, mobile banking, e-Passbook and automated banking. 

Fairfirst Insurance relaunches ‘Buhuman’ health insurance policy

The Government Pensions Department together with ColomboRe Insurance Brokers and Fairfirst Insurance relaunched ‘Buhuman’, a unique health insurance policy, on 10thMay. 

NDB signs Umaria as brand ambassador for new product

NDB recently signed an exclusive agreement with the famous singer Umaria Sinhawansa as Brand Ambassador for a new product. 

Sri Lanka’s housing loans on rise: Fitch

In what appears to be an interesting revelation, Sri Lankans are seen increasingly borrowing to meet their housing needs defying the rising borrowing costs, as they seem to perceive more value in the money spent on a long-term asset created today than a deferred spending.            

Leasing companies’ future profits under pressure due to bank borrowings, stringent regulations

Sri Lanka’s leasing companies are likely to experience a decline in profits in the future due to their greater reliance on bank borrowings and heavier regulations, a top official of a leading finance company in the country opined.  

ComBank in US $ 15mn swap deal with IFC to hedge interest rate risk

International Finance Corporation (IFC), a member of the World Bank Group, and Sri Lanka’s Commercial Bank of Ceylon PLC has entered into an interest rate swap arrangement for a notional amount of $15 million, IFC communiqué said. 

Budget deficit in 1Q widens 10%; revenue up 26%

Sri Lanka’s budget deficit for the first quarter of 2017 widened 10.49 percent year-on-year (YoY) to Rs.199.67 billion, on the back of high capital expenditure although the primary balance recorded a healthy decline due to an increase in tax collection.

Four firms transferred to Default Board over non-submission of financials

Four listed entities were transferred to the Default Board of the Colombo Stock Exchange yesterday for their inability to submit financial statements within the required timeframe.

Mayhem in Yala continues

Unrestrained safari jeeps continue to play mayhem in the Yala National Park with authorities failing to take any action against the errant drivers.

Hameedia continues its special offers this Ramadan

Hameedia is continuing to offer its valued customers an exciting range of offers and vouchers this Ramadan.You can get optimal value for all your purchaseswhen you shop at Hameedia this monthand 

Landrover and Jaguar Winat Car Design Awards

Land Rover has won the Best Brand Design Language prize at the Car Design Awards for its family of vehicles recently joined by the new Range Rover Velar. The Jaguar I-PACE Conceptelectric

The Outlet Store launched in Colombo

Joining the fastest growing retail fashion sector in Sri Lanka with an aim to bring the latest trends for an exclusive family shopping experience at affordable prices, The Outlet Store was recently launched 

ICC introduces modern walk-up apartments in partnership with NHDA

With the aim of contributing to the middle-income transition and uplifting their standards of housing requirement, Sri Lanka’s pioneering infrastructure and multi sector general contractor International 

Nestlé wins ‘Cannes Lions Young Marketer Sri Lanka 2017’

Nestlé’s Umeshinie Kurukulasuriya and Ashani Ratnayake have won the prestigious Cannes Lions Young Marketer Sri Lanka 2017. The duo competed against teams from leading companies to win the 

zMessenger expands to 7 ASEAN countries with a Japanese Ad Veteran

zMessenger, multiple-award winning full service digital marketing agency in Sri Lanka, has entered into a partnership with Japanese Veteran Advertising Agency Network- Chuo Senko to expand its

Allianz Lanka Lauds Star Performers at Allianz Awards 2017

Allianz Lanka celebrated the achievements of its team members at its annual sales convention, the Allianz Awards 2017, held at the Cinnamon Lakeside recently. Allan Smee, Head of Property

Asus launches Asus ROG Masters Sri Lanka 2017

Asus Sri Lanka announced the launch of Asus ROG Masters Sri Lanka 2017; a country qualifier tournament of one of the most celebrated and state-of-the-art eSports events in the world. 

Rubber planters see no silver lining on horizon

Sri Lanka’s rubber industry, which faced one of the toughest years, last year, due to lower global commodity prices, doesn’t appear to be recovering, with a few companies discontinuing their rubber production.

Rupee ends steady as remittances offset importer dollar demand

REUTERS: The Sri Lankan rupee ended steady yesterday as inward remittances offset dollar demand from importers, dealers said.

Odel to buy retail space at Colombo City Centre

Odel PLC, the lifestyle and fashion retailer of the Softlogic group, yesterday said it would mark its presence in Colombo City Centre, a mixed development project under construction by the Abans group in collaboration with Singapore’s SilverNeedle Hospitality, opposite the Beira Lake.