Rupee rises on exporter dollar conversion

REUTERS: The Sri Lankan rupee closed higher yesterday, helped by exporter dollar conversions, but expectations of higher seasonal imports and a pickup in motor vehicle buying after taxes were slashed in last week’s budget weighed on the local currency, dealers said.  

CSE to conduct full day of trading from disaster recovery site

The Colombo Stock Exchange (CSE) is to conduct a planned full day of trading from its disaster recovery site using ATS Version 7 Disaster Recovery Solution tomorrow. 

SL likely to overshoot budget deficit continuously till 2020

Sri Lanka’s economy is heading towards a tumultuous ride in the next three years as widespread policy uncertainty and macroeconomic imbalances will slowdown the economy, push up prices and scare away the investors.  

Shangri-La Colombo opens!

The Shangri-La Hotel in Colombo was ceremoniously opened yesterday by President Maithripala Sirisena, Prime Minister Ranil Wickremesinghe, other ministers and officials from Shangri-La.

amanté Ignites with a series of events for loyal customers at flagship boutique

Intimate apparel label amanté continues to reward its loyal clientele with a series of its popular ‘amanté Ignites’ events at its flagship Racecourse boutique.

Sampath Bank Bags Third Place at 34th Mercantile Athletic Championships

Team Sampath Bank continued to showcase its prowess in the sports arena at the 34thMercantile Athletic Championships held at the Mahinda Rajapaksha Stadium, Diyagama recently

Amãna Takaful wins at SLIM-NASCO 2017

Amãna Takaful Life PLC (ATL Life) was recognized for their sales professionalism at the recently concluded SLIM-NASCO 2017 awards. Hamdi Nizam of Amãna Takaful’s insurance team 

Lack of pricing formula, high debt hamper Laugfs 2Q

Laugfs Gas PLC became a victim of higher interest rates and rapid increase in global liquefied petroleum gas (LPG) prices as the energy group, which has diversified interests, could not pass the higher prices on to the consumer.

Sri Lanka likely to overshoot budget deficit continuously till 2020

Sri Lanka’s economy is heading towards a tumultuous ride in the next three years as widespread policy uncertainty and macroeconomic imbalances will slowdown the economy, push up prices and scare away the investors.   

Fouzul Hameed’s annual fashion showcase – Envoy Concept 2018

Hameedia, Sri Lanka’s leading menswear specialist recently concluded the fifth edition of its highly anticipated, fashion showcase - Concept 2018. Governed by the theme of ‘CurioCity’

Govt. to tender coal ash of Norochcholai

The government will start selling the coal ash by-product created at the Norochcholai coal-fired power plant to the companies that have use of the material.

Sujan Int’l launches latest meat-free sausages and sandwich slices

Sujan International (Pvt.) Ltd has launched their latest meat-free sausages and sandwich slices for those who look for meatless alternatives.

Huawei introduces nova 2i to Sri Lankan market

Huawei, the number one growing smartphone brand in Sri Lanka, launched the much-anticipated Huawei nova 2i upper mid range smartphone at a gala ceremony held at Park Street Mews Colombo. The event was held under the patronage of Huawei Sri Lanka CEO Shunli Wang, Singer Sri Lanka PLC Marketing Director Kumar Samarasinghe including the management of Singer Sri Lanka PLC, Huawei Sri Lanka, valued dealers and partners.

CCC CEO joins International Climate Reality Leadership Corps

As the world continues to see stronger storms, faster spread of wildfires, and water levels rise, one organization is taking action and inviting world thought leaders into the conversation to start creating change - The Climate Reality Project.

Fanam International accoladed at NCE Exports Excellence Awards

Fanam International (Pvt.) Ltd, a leading company in local organic compost fertilizers exports trade, was honoured with the Bronze award in Fisheries and Livestock of the Agriculture Value Added Sector at the ‘NCE Exports Excellence 2017’ award ceremony organized by the National Chamber of Exporters of Sri Lanka recently.

Mahinda at loggerheads with Mangala over shipping industry liberalization

Ports and Shipping Minister Mahinda Samarasinghe said he was broadsided by Finance Minister Mangala Samaraweera’s budget proposal to liberalize foreign ownership in the shipping and freight forwarding industries, which Samarasinghe said that he would not allow to take place unless foreigners invest heavily.

Poultry producers welcome maize import liberalisation

The recent budget proposal to allow the feed millers to import maize under a special limited quota to meet the shortfall in the local supply has been hailed by the poultry producers as a positive measure that will support greater efficiency within the domestic industry.As one of the highest revenue-

A recovering world economy? Dynamics of China and India in global growth

The remarkable growth of China and India has shifted the centre of the world economy towards Asia. However, the 2008 global financial crisis exposed vulnerabilities in the export-led model of Asia’s two economic giants. 

Budget allocations for teacher training: Is Sri Lanka playing its cards right?

The 2018 budget proposals presented in parliament on November 9, 2017 have correctly recognized the importance of good quality teachers for improving education in the country. The budget has allocated Rs.50 million to increase the allowance given to teacher trainees to Rs.5,000 a month and allocated another Rs.50 million  for the establishment of a centre for training English teachers. 

Investment options beyond fixed deposits and savings accounts

The majority of Sri Lankans invest their hard earned money in banks and finance companies in the form of fixed deposits and savings products. However, there are a number of other financial instruments available for investment for retail investors which includes the following. 

Dilmah opens first private sector-initiated climate change research station

Dilmah Founder Merrill J. Fernando was joined by his sons and scientists from universities and NGOs in Sri Lanka recently in inaugurating the first private sector initiative to research climate change and guide planters and farmers in building resilience to the extreme weather that is becoming commonplace.

What does 4th industrial revolution mean for Sri Lanka’s financial services industry?

Microsoft’s Asia Digital Transformation Survey (2017), involving 1,494 business leaders in 13 Asia Pacific markets, found that 81 percent of Financial Services Industry (FSI) leaders believethey need to transform to a digital business to enable future growth. 

Samsung Sri Lanka launches 5-in-1 convertible smart refrigerator range

Samsung Sri Lanka recently announced the launch of its new generation five-in-one convertible smart refrigerator.

Liberalising shipping agencies first step to transform Colombo into a maritime hub

Last week’s budget contained important proposals around the liberalisation of the shipping sector. The port played a significant role in the development of maritime hubs such as Singapore, helping the country become a first world economy in a generation. With the right reforms, Sri Lanka’s ports could do the same.

Sadaharitha Plantations wins at NASCO Awards 2017

Sadaharitha Plantations, Sri Lanka’s undisputed leader in commercial forestry with over 2,000 acres of thriving forests and a portfolio of over 26,000 investors, was recognized at the National Sales Congress (NASCO) 2017 conducted by Sri Lanka Institute of Marketing (SLIM) recently.

Softlogic launches ‘Maxmo’ brand of refrigerators

Softlogic Retail (Pvt.) Ltd has announced the launch of its own brand of refrigerators in Sri Lanka, targeting the ‘White Goods’ segment where it already has a strong presence, with a sophisticated product at an unbeatable price in the form of ‘Softlogic Maxmo’ refrigerators.

DFCC Bank empowers sales team with ‘SalesTalk’

DFCC Bank continues its commitment to the digital transformation of the country’s financial sector by using digital connectivity to engage with their customers. 

Ath Pavura provides dynamic platform for Lankan social entrepreneurs

One month since its inception, Ath Pavura, the first ever TV reality show for social entrepreneurs and impact investors hosted on nation’s premier TV channel is creating a unique platform to flow equity capital to micro, small and medium level entrepreneurs.

BOC offers seasonal discounts on debit and credit cards

The time has come to celebrate with families and friends, exchanging gifts to share the joy of the season. 

A mammoth undertaking by Spa Ceylon to protect elephants

Spa Ceylon, the world’s largest luxury ayurveda chain, has strengthened its mission to aid and promote the work of elephant conservation projects in the island by launching a new range of  luxurious products under the label Ceylon Elephant Co.