Hatton National Bank with WEBXPAY to empower Lankan micro, small and medium enterprises

Sri Lanka’s most digitally innovative bank, Hatton National Bank PLC (HNB), announced a breakthrough partnership with e-commerce software as a service (SaaS) provider, WEBXPAY, to launch an integrated e-commerce platform aimed at empowering micro, small and medium businesses in Sri Lanka to adapt to e-commerce.

StanChart lead manages record oversubscribed int’l bond issue for Sri Lanka

Standard Chartered has successfully priced a US $ 1.5 billion 10-year fixed rate senior unsecured 144A/Reg S issuance for Sri Lanka. This marks the sovereign’s 11th US dollar benchmark offering in the international bond markets since 2007 and reflects the continued international institutional support for Sri Lanka through the years. 

ComBank offers credit cardholders discounts up to 50% on hotel stays

North, south, east, west or centre, Commercial Bank’s credit cardholders have been accorded an opportunity to vacation at some of the country’s best hotels in May and June this year at discounts of up to 50 percent.

Top Aussie tourism official urges Lanka to undertake research to succeed

Sri Lanka must convert its plans into action by conducting market research to fuel its tourism policies in the future, an Australian tourism expert urged recently after evaluating the country’s 2020 Tourism Vision policy document.

TPG pulls out of SriLankan Airlines bid talks

REUTERS: U.S. private equity firm TPG, one of three bidders short-listed to buy a 49 percent stake in state-owned SriLankan Airlines, has pulled out of talks about the potential acquisition, the Chairman of the national carrier said.

Ravi K softens tone after slamming Central Bank’s conduct

Finance Minister Ravi Karunanayake appears to have moderated his views on the Central Bank even further as he recently expressed mixed sentiments on how far he is willing to go to clip the wings of the country’s monetary authority. 

BoI Chief says foreign investments safe in Sri Lanka

While providing a better understating of Board of Investment (BOI) policies for foreign investments, BOI Chairman Upul Jayasuriya assured that all foreign investments were safe in Sri Lanka, and that BoI was always prepared to facilitate  any shortcomings faced by  the investors. 

Sluggish consumer demand, higher costs hamper Nestlé Lanka’s March quarter

The sluggish consumer demand dented the sales of Nestlé Lanka PLC, while the prolonged drought pushed up the costs impacting the consumer food maker’s bottom line, the interim results filed by the company with the Colombo Stock Exchange showed. 

Sampath Bank 1Q17 net up 30% to Rs.2.4 bn over stronger growth in loans

Sampath Bank PLC reported earnings of Rs.12.81 or Rs.2.39 billion for its January - March quarter (1Q17), a 29.6 percent jump from a year ago, but the margins slightly narrowed amid rising cost of funds. 

India calls satellite ‘gift to South Asia’, Pakistan says no thanks

REUTERS: India launched a communications satellite last week for its smaller neighbours to share, part of its efforts to build goodwill in the region and counter Chinese influence, but arch- rival Pakistan said it would stay away from the project.

Lankem in Rs.480mn rights issue; subsidiary buys PET bottle maker for Rs.225mn

Diversified manufacturing and trading conglomerate, Lankem Ceylon PLC, is gearing up for a rights issue worth Rs.480 million in the near future to settle inter-company borrowings and working capital requirements.

Vesak celebrations!

A man paints statues of Buddha before packing them for sale at a workshop, ahead of Vesak Day celebrations in Colombo. (Reuters Photo)

Chinese developers of Colombo Port City look for prospective investors

As they are in the process of looking for prospective investors, the Chinese officials of the Colombo Port City, the offshore city being built on a man-made island, said that any interested developer or investor could contact them to invest in the project.

Bogawantalawa achieves Carbon Neutral Certification

Bogawantalawa Tea Estates PLC, renowned for its outstanding quality of tea grown in the Golden Valley nestling in the central hills, is perhaps the world’s first tea growing, manufacturing and marketing companyoffering uncompensated Carbon Neutral Teas from its state-of-the-art carbon neutral facilities. 

Serta mattresses now at Comfort World

Comfort World International, the market leader in mattress manufacture and retail in Sri Lanka, Maldives and Seychelles, introduced Serta mattresses, the emperor of mattresses to Sri Lanka recently. 

Fadna Ginco enters market

From ancient times, our ancestors used the ginger and coriander juice for ailments. 

CA Students’ International Conference concludes on high note

The 31st International CA Students’ Conference themed ‘Transmute, to Transmute’ concluded on a high note with over 600 CA students from across the country as well as the South Asian region participating, where the importance to embrace change in the current dynamic global environment was underscored. 

Sri Lanka-Czech Republic to deepen bilateral ties

Both Sri Lanka and the Czech Republic have expressed interest to further enhance and deepen bilateral ties between the two countries as there is a big potential for further development.

Arthacharya Foundation celebrates 25th anniversary

 Established in 1992, Arthacharya Foundation celebrates its silver jubilee this year. 

MTI’s idea2fund invests, incubates ‘Bakamuna’ lifestyle designs

Rochelle Bibile, a young designer with an eye for the daring and unique, sees her vision become reality through partnering with MTI’s idea2fund. 

Kodomo brings cheer to Little Hearts

‘Kodomo’ Kiddies Tooth paste marketed by UTN Trading Company (Pvt) Ltd, contributes for the project of  Little Hearts,

Aitken Spence partners to raise awareness on Thalassemia

Aitken Spence partnered with Thalassemia Foundation of Sri Lanka to raise awareness of Thalassemia disease through a walk which was conducted in Colombo on  May 06th. 

JKH March earnings up 10% to Rs.5bn; full year net up 16%

Sri Lanka’s premier blue chip, John Keells Holdings PLC (JKH), which is currently building a massive mixed development project in the heart of Colombo, saw its net profit for the January-March quarter (4Q17) increasing 10 percent year-on-year (YoY) to Rs.5 billion.

Sri Lanka raises US $ 1.5bn via international bond issue

The Central Bank of Sri Lanka, on behalf of the Sri Lankan government successfully priced a new US$1.5 billion 10-year international sovereign bond on  May 4th. 

Top World Bank official visits Sri Lanka

Jan Walliser, the World Bank’s Vice President for Equitable Growth, Finance, and Institutions, arrived in Colombo for an official two-day visit. 

Indonesia seeks US$2 bn over Australia oil spill

AFP: Indonesia said yesterday it has filed a US$2 billion lawsuit against an energy company over an oil spill off Australia that it claims caused environmental damage in the  archipelago’s waters. 

Sancharaka Udawa 2017

Tourism Minister John Amaratunga declared open the 7th Edition of the ‘Sancharaka Udawa’ exhibition at the Sirimavo Bandaranaike Memorial Exhibition Centre yesterday. Picture shows the Minister and Sri Lanka Tourism Authority’s Chairman Paddy Withana taking a look at the tourism products on display.  Pic by: Kithsiri de Mel

Shares post 1-year closing high on continued foreign buying

REUTERS: Sri Lankan shares rose to a one-year closing high yesterday, led by banking and diversified stocks, on continued foreign buying.

Lighthouses could be used to promote tourism industry: Minister

Sri Lanka Ports Authority commenced its support to the development of the tourism industry from Dondra. 

BOI conducts awareness programme for professional tour guides

The Board of Investment of Sri Lanka organized a briefing seminar for members of the tour guide profession at the BOI’s Auditorium in the World Trade Centre recently.