Leading emerging market fund buys stake in HNB Grameen

HNB Grameen Finance, the microfinance arm of Sri Lanka’s second biggest private lender, Hatton National Bank PLC (HNB), has entered into an equity partnership with Developing World Markets (DWM), a leading emerging markets investment firm. 

Central Bank to spoil bankers’ party?

Sri Lanka’s banks may be operating with fancy projected numbers to grow their loan books during 2017 but the country’s Central Bank seems to be standing firm on their way to crush those expectations as cheaper credit always tends to destabilise the import-driven island economy. 

Shares slump to one-year low as banks fall

REUTERS: Sri Lankan shares fell to a more than one-year closing low yesterday in dull trade as investors sold shares of lenders after the Central Bank tightened monetary policy in the previous session, dealers said.

Rupee ends little changed

REUTERS: The Sri Lankan rupee closed largely unchanged yesterday as importer dollar demand almost offset the inward remittances after the country’s Central Bank raised benchmark interest rates by 25 basis points.

GHR commences Marriott luxury residential project

Taking another bold step in its journey of creating elegant living spaces at competitive market rates, Global Housing & Real Estate (Pvt) Ltd., (GHR) recently launched the Marriott Residencies project, yet another luxury residential building in Iswari road located in between Colombo 05 and 06.

NDB relocates Kiribathgoda branch

National Development Bank PLC (NDB) relocated its Kiribathgoda branch to a more spacious and a conveniently accessible location at No: 540, New Hunupitiya Road, Dalugama, Kelaniya, in a bid to provide a better service experience to people in the area. 

Tokyo Cement salutes top performers at annual dealer convention

Top performing dealers for the year 2016 were fêted at the Tokyo Cement Annual Dealer Convention held on March 18th, at the Cinnamon Grand Colombo.  

Union Assurance December net up 34% over higher premiums, investment incomes

Union Assurance PLC increased its December quarter net profit by 34 percent to Rs.1.12 billion largely supported by the growth in gross premium incomes and investments incomes, which rose sharply against the corresponding period last year, the financial results released to the Colombo Stock Exchange showed. 

Glitz and glamour at HNB Assurance Banca Night

HNB Assurance PLC (HNBA), held its annual Banca Night to felicitate the finest achievers of the bancassurance channel over the gone year.  

Tier II cities offer significant real estate opportunities

Since the civil war ended over seven years ago, Sri Lanka has rapidly become a hotspot for investment among emerging markets. 

Ulagalla wins ‘Best Boutique Hotel’ at Connoisseur Hospitality Awards

Ulagalla, a boutique property by renowned hotel chain Uga Escapes, took home the award for ‘Best Boutique Hotel’ at the 2017 Connoisseur Hospitality Awards held in Berlin, Germany recently. 

Royal Cashews introduces NZ’s Manuka Honey to Lankan market

Cashew processing company ‘Royal Cashews’, has teamed up with New Zealand Honey Company to introduce world famous ‘Manuka Honey’ and other specialty honey products to Sri Lankan consumers. 

Deen Brothers celebrates colours night

Deen Brothers Imports Pvt Ltd celebrated their colours night at Sanaya Mention Hotel, Mathara recently. 

More tourism gains for SL

Tourists watch a Sri Lankan elephant walk through a field in the Minneriya National Park. Sri Lanka earned US $ 3.52 billion from tourism in 2016 on the back of little over two million tourists visiting the country (AFP)

CTC’s top trade marketers feted at Pinnacle Awards

The ‘Pinnacle Awards,’ is an awards show dedicated to the Trade Marketing Executives (TMEs) and distributors of Ceylon Tobacco Company PLC (CTC) which celebrate and reward true mastery in marketing. 

Fintech—A brave new world for financial sector?

From smartphones to cloud computing, technology is rapidly changing virtually every facet of society, including communications,

SampathCards introduces offers for this Avurudu

Always at the forefront in bringing its customers the very best of benefits, SampathCards continues its tradition of giving cardholders more opportunities to enhance their lifestyle during the Sinhala and Tamil New Year celebrations. 

‘Massage Cruise’ to create memorable experience

To celebrate the festive season ahead, Sail Lanka, the pioneer yachting and coastal cruises in Sri Lanka is launching an exciting new package - ‘The Massage Cruise’ on one of their 53 - foot catamarans. 

India must understand challenge of China and not confront any neighbour

Dealing with China on security and economic issues is crucial for India but even if “we are no pushover, we cannot get provocative,” asserted Centre for Policy Research New Delhi Visiting Professor G. Parthasarathy.

Sadaharitha launches mobile office to promote forestry

Commercial forestry is rapidly gaining ground in Sri Lanka and the company that is the undisputed leader in this eco-friendly, futuristic investment, Sadaharitha Plantations, has just launched a novel promotional vehicle that doubles up as a mobile office for the convenience of customers.  

Urban world: Meeting demographic challenge in cities

Cities have powered the world economy for centuries. Large cities generate about 75 percent of global gross domestic product (GDP) today and will generate 86 percent of worldwide GDP growth between 2015 and 2030. Population growth has been the crucial driver of cities’ GDP growth, 

Watawala Plantations honours top 2016 performers

Shining the spotlight on its high performers, Watawala Plantations PLC – a subsidiary of Sunshine Holdings PLC recognized their employees who demonstrated exceptional performance in 2016 at a gala awards ceremony held at Cinnamon Lakeside Colombo.  

HNB completes milestone launch of Jaffna Priority Circle

Crossing another significant milestone in its islandwide expansion drive, Sri Lanka’s premier private sector commercial bank, Hatton National Bank PLC (HNB), announced the launch of its popular Priority Circle plan at its Jaffna branch. 

Jones Lang LaSalle marks Sri Lankan presence with new WTC office

Global real estate consulting powerhouse, Jones Lang LaSalle (JLL) announced that the company would be substantially expanding their presence in the Sri Lankan market, commencing with the opening of its new dedicated office at the World Trade Centre, in a bid to cater to rapidly growing demand for specialized real estate services on  the island.

RIU’s CEO Roshan Madawela nominated for top regional enterprise award

The Real Estate Intelligence Unit’s (RIU) founding CEO Roshan Madawela was recently nominated by the Europe Business Assembly (EBA) for the prestigious ‘Best Regional Manager of the Year Award’.

Sri Lanka Insurance expands branch network

Sri Lanka Insurance (SLI) has major expansion plans for the year 2017 and as the first step in this regard, two fully-fledged branch offices joined the network recently in Borella and Ragama. 

Top European Investment Bank delegation in town

A high-level delegation from the European Investment Bank (EIB), the world’s largest international public bank, is in town on an official three-day visit to explore new opportunities for future investments, an EIB press communiqué said.

Odiliya Residencies breaks ground for Altezza Wattala

Odiliya Residencies (Pvt) Ltd, the latest addition to the Odiliya Group held the ground breaking ceremony for the construction work of Altezza luxury apartments recently at the project site in Aweriwatta Road, Wattala.

DusitThani Sri Lanka holds investor forum in London

DusitThani Sri Lanka co-hosted DusitThani Sri Lanka Investors’ Forum London 2017 at The Grange City Hotel, London along with Real Estate Intelligence Unit (RIU), the premier research and consultancy firm for many of the top corporations in the U.K, Sri Lanka and in many of the major cities in Asia.

HNB celebrates opening of a new Student Savings Unit at St Joseph’s College, Colombo

Continuing in its pioneering efforts to inculcate the savings habit in children, Sri Lanka’s premiere private sector commercial bank, HNB PLC announced the opening of a new Student Savings Unit