Government focused on business climate improvements – DBI and beyond

The Government of Sri Lanka continues to take seriously the improvement of the climate for business in the country and is taking concrete steps towards this. The latest edition of the World Bank’s Doing Business Index (DBI) rankings shows a one-spot drop in the country’s rankings and we are very mindful of the need to accelerate our efforts, especially in light of the rapid improvements being made by other countries in this region.&nb

Unmasking false truths of Sri Lanka’s anti-alcohol lobby

The anti-alcohol lobby groups form powerful fronts across global markets and their hallowed cause for enhanced public policy on health and safety and combating abuse are recognized universally. In contrast to developed markets, Sri Lanka’s alcohol industry is plagued with the presence of an extensive illicit trade, which as per the World Health Organisation’s (WHO) 2014 Global Report on Alcohol, constitutes 41 percent of our market.

Swimming with killer sharks, surviving and making them follow you

Life in organisations is like being at sea: sometimes calm, frequently choppy and occasionally sick-making! The changes can come thick and fast as managers and company executives search for every possible improvement in performance. And the speed of that change is generally increasing. 

CA Sri Lanka inducts Nirmal Fernando and T. Someswaran to Hall of Fame 2017

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) recently paid tribute to two eminent chartered accountants, Anthony Nirmal Fernando and Someswaran Thirunavukarasu by inducting them to the CA Sri Lanka Hall of Fame for the year 2017 in recognition of their exemplary contribution towards the development of the accounting profession, business world and country. 

SLIM Digital Marketing Programme 2nd inauguration a success

Sri Lanka Institute of Marketing (SLIM) held the second inauguration of its Certificate Course in Digital Marketing (CDM) programme for 2017 recently at SLIM Home. 

Stock market continues encouraging performance in 2017

The Sri Lankan stock market has continued what has been an encouraging year in 2017, where both market indices continue to record positive returns.

Finding solid buy-and-hold stocks

The Colombo Stock Exchange has experienced considerable growth during the last few months. However, the market recorded short-term fluctuations in the short run (Table). A successful investor will invest with a long-term perspective to avoid the fluctuations experienced in the short run.    

CPC seeks investment and supply linkages for US$ 2 bn refinery expansion

The state-run Ceylon Petroleum Corporation (CPC) will be seeking foreign investment linked to long-term crude supply contracts to construct the US$ 2 billion expansion at the Sapugaskanda Oil Refinery, according to the organization’s head.

CB sets record straight on employment statistics

The Central Bank of Sri Lanka last week noted that the employment statistics compiled by the Census and Statistics Department (DCS) had undergone a revision in 2016, in the process reminding policy commentators not to compare the old statistics with the re-weighed figures.

External factors, higher interest rates hamper Singer September profit

Consumer durables retail giant Singer Sri Lanka PLC reported subdued performance for the July-September quarter (3Q17), aptly demonstrating how difficult economic conditions have become and the decisive role of the weather gods  

NTB September profit up 33% on strong loan growth

Nations Trust Bank PLC (NTB) reported Rs. 1.01 billion in net profits for the quarter ended this September, which was a 33 percent increase compared the corresponding quarter last year, with growth being driven by new loans. Earnings per share increased to Rs.4.39 during the quarter under review up from Rs.3.29 year-on-year (YoY). 

CB seen holding key rates steady ahead of budget: poll

REUTERS: The Central Bank is expected to keep its key interest rates steady tomorrow to support the sluggish economy despite a pick-up in inflation amid strong credit growth, a Reuters poll showed. All 11 economists in the survey predicted the Central Bank would keep its standing deposit facility rate (SDFR) and standing lending facility rate (SLFR) unchanged at 7.25 percent and 8.75 percent, respectively.

Stricter visa controls needed to evade anti-globalization impact: Former envoy

As the anti-globalization movement continues internationally, Sri Lanka must form stricter controls on immigration, and communicate this to the public to avoid further local unrest, according to Former Sri Lankan Diplomat Sarala Fernando.

Rainco pays tribute to Teachers

A heart touching video titled Guru Panduru was shared extensively on social media recently. Inspired by a true story, the video was conceptualized by Rainco as a tribute to Teachers to coincide 

Hatch - Transforming Sri Lanka’s collaborative work space

Sri Lankan start-up incubation and acceleration platform, Hatch, announced plans for the launch of the island’s single largest co-working office space designed exclusively for start-ups to collaborate,

Joint effort to promote sports tourism in Sri Lanka

The Tourism Development & Christian Religious Affairs Ministry and the Sports Ministry recently announced their plans to promote ‘sports tourism’ in Sri Lanka through a series of sports events which will kick off early November anchoring Sri Lanka as the hub for international sporting events and luring tourists. 

Dialog joins Eureka to offer world-class information security and IT audits

In an increasingly technology driven and futuristic world, there is a growing need for businesses to invest in seamless and secure  IT services. 

SLPA to host 19th Conference on International Network of Affiliated Ports

The 19th conference on International Network of Affiliated Ports (INAP) will be held on 07th and 08th November at the Kingsbury Hotel Colombo.  

CityNet Congress 2017 begins today

The CityNet Congress 2017 will be held from November 6th to 8th   at the Colombo Hilton. CityNet is the largest association of urban stakeholders committed to sustainable development in the Asia Pacific region. Established in 1987 with the support of UNESCAP, UNDP and UN-Habitat, the Network of cities has grown to include 135 municipalities, NGOs, private companies and research centres. 

Two latest Kenton bicycles introduced to Lankan market 

Faizal Hardware Stores, a leading Sri Lankan marketer of bicycles with over 30 years of history has introduced two new models under their flagship  brand ‘Kenton’.

Carmart delivers Sinotruk port tractors to Hambantota Port

Carmart (Pvt) Ltd has successfully delivered new Sinotruk port tractors to the Sri Lanka Ports Authority (SLPA). 

Special discount on Kangaroo Cabs for Vardhana Virtual Wallet users

Kangaroo Cabs is the latest merchant to sign up with DFCC Bank PLC to join its Vardhana Virtual Wallet (VVW) merchant network which connects over 10,000 customers and 800 merchants, demonstrating the rising demand for this innovative product. 

SR Metals receives NCE Silver Award

SR Metals is one of the leading copper and aluminum manufacturers in Sri Lanka was recently bestowed Silver Award in industrial sector, heavy engineered products sub sector, large category at NCE Export Awards – 2017 ceremony organized by the National Chamber  of Exporters.

Ansell launches rainforest conservation carbon insetting initiative

Ansell, a global leader in protection solutions and the largest manufacturer of personal protective equipment in Sri Lanka, recently marked a major milestone in sustainable manufacturing and environmental stewardship. 

Singer Life Style exhibition to begin on November 24th

Placed as the best brand of the country for the 11th consecutive year Singer Sri Lanka presents the Life Style Exhibition and Fun Fair 2017, a most prominent event of Sri Lanka to be held for the 7th consecutive year at the BMICH from 24th to 26th November from 10 am to 9pm.

Leo Burnett’s Murtaza Tajbhoy the first Sri Lankan to win IAA Champion Award

Murtaza Tajbhoy, Chief Strategy Officer of Leo Burnett Sri Lanka was awarded the IAA Champion award. He is the first Sri Lankan to win this prestigious accolade.    

Special discount on Kangaroo Cabs for Vardhana Virtual Wallet users

Kangaroo Cabs is the latest merchant to sign up with DFCC Bank PLC to join its Vardhana Virtual Wallet (VVW) merchant network which connects over 10,000 customers and 800 merchants, 

Fouzul Hameed to present exclusive Envoy Concept 2018

Hameedia, Sri Lanka’s leading menswear specialist will soon present the fifth edition of its annual fashion showcase – Envoy Concept 2018. This year, the show will run under the theme ‘ CurioCity’,  

Mitigating impact of natural disasters as important as managing fiscal front, debt: World Bank

While managing the risks related to fiscal and trade policy reforms, public debt and contingent liabilities, the World Bank yesterday insisted that Sri Lanka should also focus on mitigating the impact from natural disasters, which have become more frequent with climate change.  

FTA with China not an economic agreement: economist

The Free Trade Agreement (FTA) between China and Sri Lanka under negotiation is not economically motivated, and therefore Sri Lanka should get major concessions during the first ten years of the agreement, a top economist opined this week.