vCentric Technologies named a finalist for 2017 SAP Pinnacle Awards

vCentric Technologies, a leading CMMI Level 3 and an ISO 9001:2015-accredited information technology services and technology consulting company, with major focus on SAP, announced that SAP has recognized it as a finalist for SAP Pinnacle Award in the SAP S/4HANA Partner of the Year – Small and Midsize Companies category.

2017: A tipping point for cloud

By 2020, nine out of 10 organisations will utilise hybrid cloud infrastructure, according to Gartner. With cloud spending in this area rising faster than ever before and data centre outsourcing on the decline, 2017 is set to be a tipping point for IaaS adoption.

For ‘Gudppl’, Microsoft BizSpark reinforced vision

Start-ups are established each year and are often paraded around with increasing fervour to describe scrappy young ventures, popular web-based apps and high-profile tech giants. Be that as it may, this is a certainty: many close shop and only a few make it big.  But if you look on the bright side, there are those who do drive their ambition for success.     

Just In Time Group appoints Anthony Nair as Group Head of Finance

Just In Time Group, a flagship ICT systems integration and services provider in Sri Lanka with 20 years in operation, has announced the appointment of Anthony Nair as its Group Head of Finance with effect from June 1, 2017.

Cutting alcohol prices: Minister proposes move in right direction

A recent statement from Labour Minister John Seneviratne elicited much chatter amongst the social circles. He espoused that arrack should be made cheaper to dissuade people, especially the estate sector workers from consuming harmful illicit alcohols. 

Arab rift deepens woes for Gulf airlines

A bust-up between Arab powers has dealt a blow to supercarriers already hurt by low oil prices and laptop bans, exposing the sensitivity of Gulf hubs to regional uncertainty and creating openings for rival airlines - at least in the short term.

Softlogic Life Insurance and ComBank establish key bancassurance partnership

Softlogic Life Insurance PLC has entered into a long-term, strategic bancassurance partnership with Commercial Bank of Ceylon PLC, paving a way to distribute life insurance solutions by Softlogic Life through the bank’s islandwide branch network. 

ComBank offers concessionary Green Energy Loans in June

Commercial Bank of Ceylon has announced concessionary rates on Green Energy Loans during the month of June, as part of the bank’s commitment to the celebration of the World Environment Day, which fell on June 5.

DFCC Bank-DIMO to offer affordable leasing for Tata vehicles

DFCC Bank recently signed a memorandum of understanding (MoU) with Diesel & Motor Engineering PLC (DIMO), to facilitate the leasing of Tata vehicles at an affordable price, to customers across its branch network. 

DFCC Bank relaunches Vardhana Sahanaya to help flood-affected communities

DFCC Bank has relaunched Vardhana Sahanaya to help the people affected by the recent natural disaster to rebuild their lives in the aftermath. 

NTB relocates Aluthgama branch

Nations Trust Bank (NTB) has moved the Aluthgama branch to a new, spacious and convenient location at No. 411, Galle Road, Aluthgama. 

Governor says next year’s debt challenge bigger than this year’s

The Central Bank Governor, Dr. Indrajith Coomaraswamy said the domestic debt repayment challenge in 2018 would be much worse than that of this year’s and going forward Sri Lanka would have sovereign debt maturities every year starting from 2019 leaving very little headroom for further borrowings. 

Watawala to start commercial dairy operations later this year

Watawala Plantations PLC (WATA), a subsidiary of Sunshine Holdings PLC, will begin commercial dairy operations during the latter half of the 2018 financial year, a top official said.

Qatar debt rating downgraded by S&P as riyal hits 11-year low

Standard & Poor’s downgraded Qatar’s debt on Wednesday as the riyal currency fell to an 11-year low amid signs that portfolio investment funds were flowing out of the country because of Doha’s diplomatic rift with other Arab states.

Bangladesh export fears as EU slaps on security checks

AFP:  European Union security screening of Bangladesh exports could damage the country’s multi-billion dollar textile industry, garment manufacturers alleged yesterday.

Softlogic March in red; top line growth remains modest

Softlogic Holdings PLC, the diversified retailer turned a net loss of Rs.234.5 million for its January-March quarter (4Q17), compared to a net profit of Rs.146.2 million year-on-year (YoY) due to heavy finance costs, increase in overheads and modest growth in top line, the interim results released by the company showed. 

Fitch forecasts lower reserves than official estimates by end-2017

Credit rating agency, Fitch, is expecting Sri Lanka’s foreign reserves to fall in the short-term to be well below the targets of theCentral Bank and the Finance Ministry, raising concerns over the country’s ability to meet the reserves target set by the International Monetary Fund (IMF) loan programme.

Richard Pieris 4Q profit soars on retail business and better cost management

Diversified conglomerate, Richard Pieris and Company PLC, increased its January – March quarter (4Q17) earnings by as much as 152 percent to Rs.890.1 million or 44 cents from a year ago, well supported by its major business segments led by retail, but the plantations business encountered challenges, the interim financial accounts showed.

Marking Poson Poya day

A Buddhist devotee is seen offering prayers at Kelaniya Temple during the Poson Festival in the Colombo suburb of Kelaniya yesterday. Sri Lanka celebrates Poson, the anniversary of the introduction of Buddhism to the island, this year. 

StartupX Foundry: Powering Lankan startups into the global arena

It is essentially a tech startup catalyst, an initiative to hone technological ventures with potential and take them from inspiration to exit, powered by a dynamic ecosystem of both local and international talent

Ravago Lanka opens new Kelaniya branch office, warehouse

A global giant in the polymer industry, Ravago further expanded its already strong presence in Sri Lanka through its subsidiary Ravago Lanka with the introduction of a branch office and a warehouse in Kelaniya. 

Get in shape for your special day with Skechers GoRun 400

As your wedding looms closer and closer every day, it becomes easy to lose sight of your own personal needs amidst the hectic wedding preparations.

Nestlé continues to enhance livelihood of over 20,000 rural farmers

Milk farmers in the North-Central village of Seeppukulama will benefit from a milk chilling centre upgraded by Nestlé, offering them increased opportunities to sell their milk to the company. 

National Chamber hosts UAE envoy at ‘Meet the Ambassador’ programme

United Arab Emirates (UAE) Ambassador to Sri Lanka Abdul Hamid Al Mulla was the special guest speaker at the ‘Meet the Ambassador’ programme held at the National Chamber recently.

Siddhalepa Group receives Asia Responsible Entrepreneurship Award

Siddhalepa Group of Companies received yet another international award for its long commitment to Sustainability and Corporate Social Responsibility. 

Mesh Mart receives ISO 9001 certification

Fence wires and related products manufacturer, Mesh Mart (Pvt) Ltd has received ISO 9001 quality assurance. 

Hameedia reopens newly revamped Crescat showroom

Marking another milestone in its style studded history Hameedia has revamped its showroom at Crescat Boulevard to mirror its eminence as the ‘most preferred and trusted men’s wear specialist in Sri Lanka’. 

CMA to conduct seminar on 2016 Central Bank annual report

The Institute of Certified Management Accountants of Sri Lanka (CMA) will conduct a CPD seminar on ‘Highlights of the Central Bank of Sri Lanka Annual Report 2016’ on Wednesday, June 14, 2017, from 5:00 p.m.-7:30 p.m., at the CMA headquarters, 3rd Floor Auditorium, Visakha Private Road, Colombo 4.

Dharmatilake receives WPO Lifetime Achievement Award for packaging

The World Packaging Organisation (WPO) recently created its Lifetime Achievement in Packaging Award. 

Hotel Show Colombo 2017 gears up for 4mn 2020 tourist target

Hotel Show Colombo 2017 – in keeping with the government’s goal of competing and achieving success in inbound tourism by 2020, presents an opportune showcase for the industry specialists to converge, source, develop business and broaden contacts.