Vallibel Finance opens branch in Nuwara Eliya

Vallibel Finance set alight world renowned Nuwara Eliya, bringing its renowned brand of financial services to a city blessed with a breathtaking landscape and a multi-faceted economy. 

Sri Lanka Insurance at new premises in Kegalle

Sri Lanka Insurance Kegalle branch office was relocated at a state-of-the-art office complex last week to provide a speedier and more efficient service to its customers. 

Second General Insurance Sales Congress concludes on high note

Organized by the Insurance Association of Sri Lanka (IASL), the second annual General Insurance Sales Congress (GISCO) was held on the 25th of May 2017 at the Water’s Edge in Battaramulla.  The event was attended by over 500 delegates from various insurance companies and other related organizations as well as the crème de la crème of the industry. 

Huawei unveils GR3 2017 series in Sri Lanka

Huawei, the leading smartphone brand in Sri Lanka launched the much anticipated Huawei GR3 flagship smartphone to the country. The Huawei GR3 2017 comes with Android 7.0 from Google and this new introduction from Huawei brings to light the dynamic features that the GR3 2017 has been equipped with. 

Fresh initiatives would be taken to boost ICT sector, says incoming FITIS Hardware Chapter President

A series of new initiatives will be launched with the core objective of giving an impetus to the overall development of the Information and Communication Technology (ICT), said Sudath Amarasinghe, the newly-elected President of the Sri Lanka Computer Vendors’ Association (SLCVA) , the Hardware Chapter of FITIS. 

JKH renews focus on property sector

The country’s largest conglomerate, John Keells Holdings PLC, will be embarking on a sustained commercial and residential property development drive in the future, despite rising concerns of an asset bubble in the real estate industry.

May inflation moderates to 6% amid higher food prices

Sri Lanka’s headline inflation moderated to 6.0 percent during the 12 months to May, from 6.9 percent in April mainly as a result of the base effects, but the month-on-month (MoM) prices saw a 0.9 percent increase due to significant increase in food and beverage prices. 

India’s largest LNG player keen to invest in Sri Lanka

India’s largest liquefied natural gas (LNG) player, Petronet LNG, Ltd will be investing in a piped natural gas supply system for Sri Lankan households if the Sri Lankan government gives the green light, a press communiqué from the Industry and Commerce Ministry said.

Agri business propels Sunshine Holdings FY17 performance

Diversified conglomerate, Sunshine Holdings PLC, boosted its net profit by 60 percent year-on-year (YoY) to reach Rs.125.56 million for the quarter ended March 31, 2017, (4Q17), although the 2017 financial year (FY17) ended with a loss for the group despite a strong performance by its agriculture operations.

HSBC Lankan unit March profits down on tighter margins, slower loan growth

The Sri Lankan unit of the global banking giant, Hongkong and Shanghai Banking Corporation Limited (HSBC), saw its bottom line narrowing for the quarter ended March 31, 2017 (1Q17) amid tighter margins, a contracting loan book and lower other income gains. 

State Minister of Finance assumes duties

The newly appointed State Minister of Finance Eran Wickramaratne assumed duties at the Finance Ministry yesterday.

Korea to boost Sri Lankan startups

Sri Lankan startups are presented with an opportunity to receive a further boost this year with the Republic of Korea announcing the ‘2017 K-Startup Grand Challenge’ in Colombo yesterday.

MTI acquires equity stake in Carbon Consulting

MTI Consulting, the internationally-accomplished boutique strategy consultancy, has announced its acquisition of a strategic equity stake in The Carbon Consulting Company - Sri Lanka’s pioneering provider of integrated sustainability solutions. 

Rupee ends firmer on exporter dollar sales

REUTERS:  Sri Lankan rupee ended slightly firmer yesterday as dollar selling by exporters outpaced importer demand for the U.S. currency, even as investors weighed the consequences of weather-related damage to the economy, dealers said.

13 of Sri Lanka’s best marketing communications professionals take wing to Cannes Lions

A team of 13 young Sri Lankans from the local marketing communications industry have been selected to represent the country at the numerous programmes designed to develop the youth in our industry which is said to take place this June at the Cannes Lions international festival of creativity in Cannes, France. This year marks the 10th year that Sri Lanka has had an active partnership with the Cannes Lions under the auspices of Metal Factor in Sri

Melstacorp March profit up 44% on alcoholic beverages and lower tax expenses

Melstacorp PLC, the former Distilleries group of companies, reported a net profit of Rs.1.4 billion or Rs.1.20 a share for the January – March quarter (4Q17), an increase of 44 percent year-on-year (YoY) due to lower tax expenses, as the profit from operations was down by 29 percent, the interim results showed.  

JKH to demolish and recreate Bawa legacy at Bentota Beach

John Keells Hotels PLC (KHL), a subsidiary of the country’s largest conglomerate, John Keells Holdings PLC (JKH) will be demolishing the Bentota Beach Hotel, one of the masterpieces of the legendary Sri Lankan Architect Geoffery Bawa, next month, for recreation at a cost of around Rs.4 billion.

Rupee firms on dollar sales; floods weigh

REUTERS: Sri Lankan rupee ended slightly firmer yesterday due to dollar selling by a foreign bank, but the rupee is expected to weaken as floods and landslides brought damage and dented market sentiment, dealers said.

Tourism authorities say flood impact on industry minimal

Sri Lanka’s tourism industry has experienced only minimal impact from the recent floods, state and private sectors stated this week, which has led the tourism authorities to maintain their revenue and arrival forecasts for the year.

Sri Lanka tightens building laws as monsoon rain toll tops 200

Sri Lanka pledged yesterday to tighten construction laws as the toll from heavy rains rose to 203, saying many landslide victims would have survived had their homes not been built on slopes. The government will also prosecute anyone violating existing rules by building on landslide-prone slopes, said Disaster Management Minister Anura Yapa.

Sampath Bank’s Green Inventor opens doors for eco-friendly inventions from Lankan universities

Committing to a sustainable future, Sampath Bank launched the Green Inventor competition, a platform for inventors to showcase their talent and work towards environmental protection and conservation. 

Trade consultation session at Kandy District Secretariat today

The government has embarked on a number of development initiatives to open up new doors for the country to make Sri Lanka an advanced economy in the world by adopting private sector-led, export-based, FDI-driven development strategy. 

Insee Ecocycle CEA drive nation’s waste management initiative

Rapid urbanization, improved living standards, population growth and changing consumer patterns have resulted in an alarming increase in waste, making waste management a national issue. The total municipal solid waste generation in the country is estimated at 6,500 metrictons (MT) per day. 

SLIM invites Ron Kauffman to lead public forum in July

Global service guru Ron Kauffman, will be in Sri Lanka on the 18th and 19th of July at the invitation of the Sri Lanka Institute of Marketing (SLIM).  

Revamped CIMA Mind Challenge Pro to be held in June

CIMA Mind Challenge Pro, organised by the CIMA Students’ Society (CIMASS), will be held at the Sri Lanka Foundation on June 10th.    

CIM Sri Lanka partners with FOX Entertainment

The Chartered Institute of Marketing Sri Lanka entered into a strategic partnership with Fox Entertainment (Pvt) Ltd as the official radio partner for the CIM Talking Point series that will be conducted throughout the year. 

Mobitel launches standing order facility for first time in Sri Lanka

Mobitel’s mobile money platform, mCash recently launched a facility providing customers the ease of giving a standing order via mCash to schedule payments to other mCash users and pay key utilities and other bills. This hassle-free service will be another first from mCash, allowing mCash customers to schedule pre-defined payments at regular intervals using a mobile phone to other mCash users such as family and friends and also to over 40 ke

Mobitel gives gift of clear vision to over 16,000 customers

Mobitel took its ‘We care. Always’ pledge a step further by organizing its 16th ‘Eye clinic project’ on 27th May. 

Sanjay Wijemanne joins Fairway Holdings

Sanjay Wijemanne, the former Head of Retail Banking at Standard Chartered Bank Sri Lanka, will join Fairway Holdings’ as Group Director of Sales and Marketing. 

Who’s responsible for ‘Alternative Facts’ on tobacco taxation?

The term ‘Alternative Facts’ has come to describe ‘blatant falsehoods’ spread to the media by those in power who purposely create doubt about even obvious and easily verifiable facts. Over the last few months, the Sri Lankan government’s tax increase on cigarettes has been subject to a sustained campaign of such ‘Alternative Facts’.