CB appoints new Deputy Governor

The Monetary Board, with the concurrence of the finance minister, has promoted Assistant Governor K.D. Ranasinghe to the post of Deputy Governor of the Central Bank of Sri Lanka (CBSL) with effect from April 30, 2017.

Experts highlight need for regional integration as US remains elusive

South Asia may have to retrace its steps and make fresh attempts at regional economic and security integration to fill the vacuum stemming from the isolationist policy of the US led by President Donald Trump and an increasingly interventionist China, experts opined.

Korean govt. approves US $ 200mn for Kandy tunnel

George Steuart Travel Ltd Director/Chief Executive Officer Channe Wijemanne was elected as President of the IATA Agents Association of Sri Lanka (IATA-AASL).

Central Industries appoints new National PVC distributor for Kalmunai

The newest authorized distributor of Central Industries PLC was appointed recently in Kalmunai (United Traders, 121 Ampara Road, Samanthurai) to cater to the business needs in the vicinity.  The new business centre was unveiled by Urban Development, Water Supply and Drainage Minister Rauff Hakeem at a ceremony.

Singer-Huawei celebrate five years of success

Singer Sri Lanka PLC, the country’s leading retailer and distributor of branded consumer durables and Huawei, the leading smartphones brand in Sri Lanka, recently celebrated the success of five years of partnership together.

Watawala Tea Ceylon celebrates Watawala Tea becoming No. 1 brand

Watawala Tea Ceylon Ltd, a member of the Sunshine Holdings group, celebrated its outstanding achievements for last year with a gala event recently at the Grand Ballroom of Galadari Hotel Colombo. 

Saudi Fund for Development offers credit facilities to Lankan importers

The Saudi Fund for Development is looking to provide credit facilities for Sri Lankan firms to import raw materials from Saudi Arabia.

John Keells Research opens research lab at SLINTEC Nanotechnology & Science Park

The official opening of the research laboratory of John Keells Research (JKR), the R&D and innovation arm of John Keells Holdings PLC, was held recently.  

Pathfinder Foundation signs MoU with Chinese Communist Party think tank

The China-Sri Lanka Cooperation Studies Centre of the Pathfinder Foundation (PF) inked a memorandum of understanding (MoU) with the Chinese Communist Party-affiliated China Centre for Contemporary World Studies (CCCWS), which engages in research in international issues, study on political parties, political systems in foreign countries, China’s foreign strategies, socialist theories, trends in social and political thoughts and comparative s

DFCC Bank re-launches Vardhana Sahanaya to help rebuild communities affected by recent natural disas

DFCC Bank has re-launched Vardhana Sahanaya to help people affected by the recent natural disaster rebuild their lives in the aftermath. The 'Sahanaya' Loan Scheme was launched to provide 

TFO joins hands with BEES to initiate tree planting campaign in Galle.

Earth became the beauty it is because of the interaction between living things and their surroundings. The two has molded together life to create a balance of what we would call today as nature. The only 

DFCC and DIMO join hands 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 

Nestlé continues to enhance the 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. Nestlé is 

Hilton to Open First Upscale Resort in Weerawila, Sri Lanka

Hilton (NYSE: HLT) and DoubleTree by Hilton today signed a management agreement with KDU Adventures (Pvt) Ltd, a subsidiary of KDU Group (Pvt) Ltd, to manage the 140-­room DoubleTree by

WB forecasts accelerated growth for Sri Lanka

Sri Lanka’s economic growth could pick up to 4.7 percent in 2017 and further up to 5.0 percent in 2018 on the back of a reform programme supported by the International Monetary Fund (IMF), but the downside risks stem from extreme weather conditions and external shocks, the World Bank (WB) said in its latest report. 

Damro acquires further 10% stake in Pussellawa for Rs.2bn

Browns Capital PLC (formerly known as FLC Holdings PLC) disposed its remaining 9.9 percent stake in FLMC Plantations (Pvt.) Ltd to Piyestra Furniture (Pvt.) Ltd, a unit of Damro Group, for a consideration of Rs.1.95 billion

UAE’s, Saudi carriers to suspend flights to Qatar

AFP: UAE and Saudi carriers said yesterday they are suspending flights to Qatar after their countries announced a cut in ties with Doha, in an unprecedented regional crisis.

Shares fall on profit-taking in banks

REUTERS: Sri Lankan shares fell in thin trade yesterday on profit-booking in banking stocks while investors assessed the impact of recent deadly floods on exchange rate and inflation.

Raigam Salterns Rs.536mn rights issue facing ‘technical issues’: official

Raigam Wayamba Salterns PLC (RWSL), a part of the Raigam group, is currently facing delays in its rights issue designed to finance the merger with Eastern Salt Company (Pvt) Ltd., that belongs to the parent, due to ”technical issues,” top company officials said.

The Finance Company cuts losses 76% in 4Q

The troubled financial institution, The Finance Company (TFC), managed to cut its losses for the quarter ended March 31, 2017 (4Q17) by 76 percent year-on-year (YoY) to Rs.295.13 million through changes in impairment, the interim financial accounts showed. 

Rupee steady; importer dollar demand offsets exporter sales

REUTERS: The Sri Lankan rupee ended steady yesterday as importer dollar demand offset greenback sales by exporters, while investors assessed the extent of damage to the economy from the recent floods and landslides, dealers said.

Janashakthi offers free breakdown assistance to vehicle owners affected by floods

Expressing its solidarity with all fellow Sri Lankans affected by the recent adverse weather conditions, Janashakthi General Insurance Limited announced that Janashakthi Full Option will be carrying out a free breakdown assistance service across areas affected by the floods.

Sirocco Air Technologies gears up for next phase of innovation

Sirocco Air Technologies, Sri Lanka’s most experienced ventilation solutions provider, is preparing for its next phase of growth by building strategic partnerships with its principals in Spain, Italy, Germany and Ukraine. 

Swift response needed for flood relief to minimize fallout

With Sri Lanka facing the worst-ever floods in 27 years, the Sri Lankan economy has begun to feel the pinch of climate change. The government immediately appealed for foreign assistance to recover from the floods that caused an estimated Rs.300 billion or approximately US $ 2 billion worth of damage. 

HR needs digital support to become effective – National HR Conference Chair

An interview with the Chairman of the IPM National HR Conference 2017 Organizing Committee and Secretary IPM Sri Lanka  – Ken Vijayakumar, who shares his thoughts on the importance of South Asia’s largest HR Conference and its role as a platform to disseminate and share insights and expert views on topics which are of deep significance to managing human resources 

Allianz Lanka lauds star performers

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

Nations Trust Bank fosters research and biodiversity education

Recognizing the important role biodiversity and ecosystem services play towards quality of life and wellbeing of the economy, Nations Trust Bank strengthened its collaboration with Wildlife and Nature Protection Society (WNPS) in fostering research and education on biodiversity, with its full sponsorship of the ‘Loris’ and ’Warana/Waranam’ magazines. 

Ceylinco Life policyholders tour Dubai

A spellbinding four-day visit to Dubai was the sensational reward won recently by a group of Ceylinco Life policyholder families in the second phase of the life insurance leader’s ‘Family Savari’ mega promotion.

Jinasena’s agricultural machinery becomes big hit in local market

Jinasena (Pvt) Limited, one of the leading water management systems and solutions providers in Sri Lanka, is making huge strides with their range of Agrimec branded agricultural machinery.

The Carbon Consulting Company announces new board members

The Carbon Consulting Company announced two new seats on their board of directors recently.