Leading mattress manufacturer Comfort World eyes expansion

Following is an interview with Comfort World International Chairman Naushad Mohideen. The company is the market leader in mattress manufacturing and retail in Sri Lanka. 

Lamudi releases annual whitepaper on Sri Lanka

Lamudi’s annual real estate market report on Sri Lanka is released. Each year, Lamudi’s researchers take an in-depth look at the emerging markets where they operate. After consolidating the most important information about the economy and the local market, a whitepaper is created. 

Home Lands launches Rajamalwatta ‘Clover’ residential plots for sale

Surrounded by a prestigious, highly residential area, one may find the ‘Clover’ land in Rajamalwatta to be not only a decent, elegant and divine location but also a greater investment that will be beneficial in years to come.

Raising standards in Sri Lankan pepper industry

Black pepper (Piper nigrum L.), known as the ‘king of spices’, is the most important and widely used spice in the world. Pepper production is confined to a few countries in Asia including Sri Lanka and the Pacific, Brazil and Madagascar. 

Will Trump make South Asia great again?

Unites States National Security Adviser H.R. McMaster embarked on his maiden visit to South Asia on April 16, 2017. McMaster’s trip to the region is part of the on-going consultation process ahead of finalising the Trump administration’s South Asia policy.

When entrepreneurs fall from grace: Case of Theranos and lessons we can learn

Too much too soon can be a bad thing – if there are any lessons for the would-be and existing entrepreneurs to learn today, it is from achievements as well as failures. The case of one ambitious young entrepreneur whose net worth came down to nothing from a US $ 9 billion value, is one such instance where you know it is clearly entrepreneurship gone terribly wrong.

Triad Digital clinches three awards for NSBM at Best Web Awards

Triad Digital secured three prestigious awards at the recently concluded Bestweb.lk awards ceremony held at the Galadari Hotel. 

Mobitel first to include Instagram in social network bundle offers

Sri Lanka’s national mobile service provider, Mobitel recently included Instagram in its social networking bundle, giving users that chance to snap and share their favourite moments on the platform, with greater ease and at an affordable price. 

Facebook video app brings social media closer on Samsung Smart TVs

Samsung Sri Lanka has announced the launch of an innovative new Facebook video app for Samsung Smart TVs. 

IAOP recognizes VirtusaPolaris as outsourcing leader

VirtusaPolaris announced that IAOP has recognized the company in its 2017 Global Outsourcing 100 list, in the Leader Judging Size category. 

Open and inclusive redefines mobile industry in 5G

The MWC had a gamut of insights to all participants, regardless of their industry or job category, many might have been intrigued by the vague differences among exhibitors – telecom equipment providers, operators, chip vendors, device sellers, are working under the same umbrella. 

Telecommunication Ministry and FITIS host 2nd CXO Forum

The Ministry of Telecommunication and Digital Infrastructure and Federation of IT Industry Sri Lanka (FITIS) hosted the 2nd National CXO Forum on ‘Artificial Intelligence and Machine Learning’ on 28th March at the Hilton Colombo Residence. 

HSBC pre-tax profit slides but hails ‘good result’

AFP: HSBC said yesterday that pre-tax profit fell 19 percent in the first three months of the year but the bank’s chief described them as “a good set of results” after a turbulent 2016.

SDB unveils 90th branch in Tissamaharama

Sanasa Development Bank PLC (SDB Bank) opened its new branch in Tissamaharama recently. The SDB Tissamaharama branch was opened at No: 51, Kachcheriyagama, Tissamaharama with the objective of providing more efficient and friendly service to its customers with more sophisticated facilities. 

HNB opens new Hulftsdorp customer centre

 In its onward journey towards seamless, efficient, digitally enhanced in-branch customer experience, Hatton National Bank PLC (HNB)’s customer centre in Hulftsdorp, moved across the road to a new  modern building. 

Alliance Finance breaks new ground with 3D directional signage concept

 Alliance Finance goes one step further, breaks new ground with its unique new 3D hoarding cum directional signage concept, incorporating an actual 3D conceptual vehicle for its most flexible one-day leasing package for registered and  unregistered bikes.  

DFCC Bank March quarter profit up on better margins

The DFCC Bank PLC group reported a net profit of Rs.1.36 billion or Rs.5.13 a share for its January – March quarter, gaining 42.5 percent from the corresponding quarter last year as the bank appears to have managed to expand its margins under the rising interest rate scenario but the loans have barely grown, the interim results released by the  bank showed. 

‘Central Bank Comes to You’ open day programme today

The Central Bank of Sri Lanka (CBSL) will conduct its first open day programme, ‘Central Bank Comes to You’, at the CBSL Matale regional office, at No. 805, Trincomalee Street, Mandandawala, Matale, today and tomorrow from 9:00 a.m. to 8:00 p.m.

Nepal Rastra Bank-IFC partner to promote sustainable and inclusive finance

IFC, a member of the World Bank Group, is partnering with Nepal Rastra Bank (NRB), the central monetary authority of Nepal, to help the bank adopt improved environmental and social risk management practices to strengthen their portfolio performance, generate business opportunities and boost competitiveness in the region.

IMF implies new income tax law imperative to go forward

After pushing the government to raise the Value Added Tax (VAT) last year, it now appears that the International Monetary Fund (IMF) wants the new income tax bill to be presented to parliament before June this year to release the third tranche of the US $ 1.5 billion loan programme it has with Sri Lanka.

Challenging operating environment hurts SriLankan FY2016/17 performance

National carrier, SriLankan Airlines, said yesterday it incurred a group net loss (before finance and one-off charges) of Rs.6.49 billion (US $ 15.2 million) for the financial year (FY) 2016/17 amid difficult market conditions. 

Ray Abeywardena appointed new CSE Chairman

The Colombo Stock Exchange (CSE) yesterday announced the appointment of Ray Abeywardena as the Chairman of the board of directors of the CSE with effect from May 5, 2017. 

Tourist arrivals rebound in April as airport reopens

After two months of negative growth, tourist arrivals to Sri Lanka rebounded 17.5 percent year-on-year (YoY) this April to reach 160,249 tourists, following the resumption of normal operations at the 

Shares gain; IMF may consider loan review request

REUTERS:  Sri Lankan shares ended firmer yesterday, helped by foreign buying in blue chips, after the International Monetary Fund said it may consider the country’s request for a second loan review.

Sri Lanka tea sale averages soar in April

Sri Lanka tea sale averages for the month of April 2017 recorded Rs.648.52 (approx.US$ 4.27) compared to Rs. 429.76 (approx. US$2.98) in the same month last year, according to data compiled by Ceylon Tea Brokers PLC.  

Rupee edges up on exporter dlr selling

REUTERS: The Sri Lankan rupee ended slightly higher yesterday as exporters sold the dollar and a statement from the International Monetary Fund (IMF) that it may review the country’s request to complete a second loan review boosted the sentiment. The move comes a day after the IMF said its executive board was likely to consider in June Sri Lanka’s reque

Sri Lanka launches 10-year sovereign bond

Sri Lanka has tightened the final guidance to 6.25 percent area, plus or minus 5 basis points, for its proposed 10-year US dollar bond.

RIL Property banks on future commercial space demand for growth

Commercial property development group, RIL Property Limited (RIL), yesterday started trading on the Colombo Stock Exchange, with the share opening at Rs.9, one rupee above the issue price to later settle down at Rs.8.40-50 levels. 

Mobitel brings home 2 Silver Awards from the 6th APAC Customer Engagement Awards held in India

Sri Lanka’s National Mobile Service Provider, Mobitel, made a dynamic impression at the 6th APAC Customer Engagement Awards held on the 29th April 2017 in Mumbai, India, by winning 2 Silver 

Ceylon Chamber calls for targeted programme to make most of GSP Plus

Sri Lanka’s premier trade chamber, the Ceylon Chamber of Commerce (CCC), yesterday called on the government to launch a targeted and accelerated programme to support the sectors capable of expanding their exports to the European Union (EU) in the wake of the country’s prospects for regaining the GSP Plus trade concession remain high.