ComBank begins Myanmar operations with Yangon office opening

The Commercial Bank of Ceylon opened its representative office in Yangon this week (June 8th), formally launching its operations in Myanmar, initially to offer advisory services to Sri Lankan and Bangladeshi businesses wishing to enter that country,...

Miss Earth visits Sri Lanka Tourism

Sri Lanka Tourism welcomed Miss Earth Jamie Harrel on the World Environment Day. The board of directors of the Sri Lanka Tourism Promotions Bureau (SLTPB) Vasantha Leelananda, Mahen Kariyawasam, Tissa Devindra, Asoka Hettigoda, ...

G7 summit

?US President Barack Obama (2nd R) is greeted by a girl and a boy in traditional Bavarian costume next to Bavarian State Premier Horst Seehofer (R) and the US ambassador to Germany John B Emerson...

Commercial Bank opens trading at CSE

?Commercial Bank of Ceylon PLC opened trading on the Colombo Stock Exchange (CSE) yesterday. This event was yet another in a series of market opening ceremonies, featuring the companies from the S&P SL20 index. 

Biz community renews calls for revised Land Act

Sri Lanka’s business community renewed their calls to revisit the controversial Land Act enacted...

Future IPOs will focus on quality, not quantity: CSE Chief

The Colombo Stock Exchange (CSE) will focus on quality over quantity for future Initial Public Offerings, unlike the past, according to a top official.

May inflation increases to 0.2% over higher food prices

During the 12 months to May 2015, Sri Lanka’s headline inflation measured by the Colombo....

Importers told to get tough on Customs

Experts asked importers to not give Sri Lanka Customs any room to make excuses, to push the potential of Customs officials to the limit, and to speak up against foul play during a recent forum organized by the Ceylon Chamber of Commerce.

Think tank renews call for major economic reforms

Colombo-based think tank, the Pathfinder Foundation, yesterday renewed its call for sweeping economic reforms and cautioned that otherwise Sri Lanka would inevitably have to face successive crises in the near future. 

Higher interest income boosts JKH FY15 profits

John Keells Holdings PLC (JKH), the company with the highest market capitalization in the Colombo bourse,...

SL to follow Maldives with ‘open skies’ policy

Sri Lanka will be adopting the ‘open skies’ policy practised by the Maldives to develop tourism in the future, according to a Cabinet minister.

Inflationary trends to determine further rate cuts

?Central Bank Governor Arjuna Mahendran says further cuts in policy rates will depend on how the country’s inflation behaves in the coming months.

Construction, reason behind false growth figures: Prof . Sally

Renowned Sri Lankan-born economist Professor Razeen Sally says Sri Lanka’s real growth would be much lower than 7 percent which has been forecasted by the Central Bank and other multilateral agencies.

Huawei unveils Honor range

From left: Huawei Device Sri Lanka Country Head Henry Liu, Singer Sri Lanka PLC Group CEO Asoka Pieris, Huawei Sri Lanka CEO Daniel Sun and Huawei Singer Sri Lanka PLC Brand Manager...

Remembrance Day

?‘Remembrance Day’ to commemorate all those who died in the war, was held in Matara under the patronage of President Maithripala Sirisena. 

CB, FinMin undertake to submit due diligence on Golden Key assets

The Central Bank and Finance Ministry yesterday undertook to submit a due diligence...

Strengthening influence in China’s backyard

?Mongolian Prime Minister Chimed Saikhanbileg (R) looks on as India’s Prime Minister Narendra Modi (2nd L) receives a bouquet of flowers from a Mongolian child during a welcoming ceremony at the Chinggis Square in Ulan Bator on May 17.

UN-ESCAP forecasts 7.5% growth for Sri Lanka in 2015

The United Nations Economic and Social Survey of Asia and the Pacific (UN-ESCAP) 2015 predicts that the Sri Lankan economy would grow at 7.5 percent, a figure much higher than forecasted by other multilateral agencies.

CB ready to repay GK depositors if court cases dropped: Ravi K

The Central Bank (CB) will be repaying the 7,000 depositors of the Ceylinco group’s Golden Key...

Growth euphoria misled all: Experts

Sri Lanka has been misled by the rate of economic growth and has been conditioned against the private sector, according to a reputed accountant in the country. 

Ravi says state coffers intact

Refuting the claims by former President Chandrika Bandaranaike Kumaratunga,...

SEC mulls fresh laws on audit firms

The Securities and Exchange Commission (SEC) is contemplating on bringing fresh laws on audit firms, mandating them to bring any financial irregularities or otherwise of the listed entities to the capital market regulator’s notice. 

April tourist arrivals up 8.5%

Tourist arrivals to Sri Lanka during the month of April rose 8.5 percent year-on-year (yoy) to 122, 217, with more Chinese and Indian tourists visiting the country, data released by Sri Lanka’s tourism office showed. 

CB opens branch in Kilinochchi

The Central Bank (CB) of Sri Lanka yesterday opened a regional branch office in Ariviyal Nagar, Kilinochchi. The picture shows Resettlement, Reconstruction and Hindu Affairs Minister D.M. Swaminathan (right)...

CSE invites CTC to ring opening bell

?The Colombo Stock Exchange (CSE) yesterday invited key officials of Ceylon Tobacco PLC (CTC), a unit of British American Tobacco, to take part in the bell ringing ceremony, which signaled the commencement of day’s trading. 

Budget deficit hits 6% of GDP

?Sri Lanka missed its budget deficit target for the first time in the post-conflict period, as the country reported a fiscal deficit of 6 percent of gross domestic product (GDP) for the year 2014, amid revenue collection shortfalls and higher expenditure.  

BOC GM Gunasekara returns

?Bank of Ceylon (BOC) General Manager D.M. Gunasekara who was sent on leave to facilitate an investigation the bank was carrying out returned to work on Monday, Mirror Business learns.

Attracting investments under good governance

?Finance Minister Ravi Karunanayake (centre), Policy Planning and Economic Affairs Minister Dr. Harsha de Silva (second from right) and Securities and Exchange Commission Chairman Tilak Karunaratne...

Global giant to assist Lankan foundry industry

Sri Lankan foundries have not been given clear directions or policies, and will be addressed in the future with the help of a global foundry technology giant, according to a press communiqué from the Ministry of Industry and Commerce.

CSR no image building tool: Prof. Visser

A global authority on Corporate Social Responsibility (CSR) recently articulated that businesses should not be using such practices for image building and winning awards.