Finance Minister attends CFMM

Finance and Mass Media Mangala Samaraweera represented Sri Lanka at the Commonwealth Finance Ministers Meeting (CFMM) held at the headquarters of the International Monetary Fund in Washington DC, USA on Thursday. Canada chaired this year’s meeting where 52 Finance ministers

Maryam Gem and Jewellery opens Main Street showroom

The Maryam Gem and Jewellery showroom, centrally located adjacent to Fort, at No: 88A, Main Street, Colombo 11, was ceremonially opened by SSP and Police Headquarters Director Anura Abeywickrema.

Dreamron College of Art and Beauty holds diploma convocation

The Dreamron College of Art and Beauty, a member of Dreamron Group of Companies, held its annual diploma convocation ceremony at the Bandaranaike Memorial International Conference Hall (BMICH) in Colombo recently. 

Omega Line Toastmasters inducts Executive Committee

The eighth installation ceremony to induct the Executive Committee of the Omega Line Toastmasters Club for 2017/2018 was held at Goldie Sands Hotel, Negombo recently.

Rupee ends slightly firmer on inward remittances

Reuters: The Sri Lankan rupee snapped a four-session decline to end slightly firmer yesterday, as dollar inflows due to inward remittances surpassed greenback buying by banks on behalf of oil importers, dealers said.Dealers said the rupee was under pressure due to dollar demand from state-run Ceylon Petroleum Corp, which stocked up crude ahead of an expected fuel price hike.

Singer Fashion Academy expands presence

The Singer Fashion Academy, celebrated for teaching the nation the art of sewing and nurturing creative skills among a large number of individuals, expanded its branch network recently adding academies in the towns of Warakapola, Mt. Lavinia, Pilimatalawa and Ruwanwella.

GOPIO SL’s career development programme, a tremendous success

The Sri Lankan chapter of Global Organisation for Persons of Indian Origin (GOPIO SL) recently hosted a career development seminar in Deraniyagala, in the Kegalle District. 

Asian markets end week with gains but dollar slips

AFP: Asian investors headed into the weekend cautiously upbeat yesterday after US traders took a breather from their recent run of records while uncertainty about Donald Trump’s tax plans are keeping the dollar reined in.

Rough T-shirts rewards youth on International Youth Day

The International Youth Day, which was celebrated on August 12 this year, is dedicated to celebrating young people’s contributions to conflict prevention and transformation, as well as inclusion, social justice and sustainable peace.

BOI hosts seminar on ‘Hub Operations’

The Board of Investment of Sri Lanka conducted a special seminar titled ‘Hub Operations ; future opportunities for Investment in Sri Lanka’ this week at the BOI Auditorium, Colombo.

Etihad Airways Gives Future Pilot Experience Of A Lifetime - Video

Earlier this month, six year old Adam Mohammad Amer of Egyptian-Moroccan origin, surprised pilots onboard an Etihad Airways flight from Morocco to Abu Dhabi by giving detailed procedural accounts 

Fairway English Creative Writing Workshop 2017

Fairway Holdings will conduct its second English Creative Writing Workshop on the 3rd and 4th   of November 2017 at the Lakshman Kadirgamar Institute of International Relations and Strategic 

Etihad Airways Launches Loungewear Competition With Emirati Fashion Designers

Etihad Airways launched a competition earlier this week to engage four young Emirati fashion designers to create new onboard loungewear.

Ceylon Tea Land harvests NCE Gold award

Ceylon Tea Land (Pvt.) Ltd could seize the Gold award in the medium-scale category for the field of tea stock exports, at NCE Exports Excellence 2017, organized by the National Chamber of Exporters (NCE)/

Debt rollover challenging for FMs amid rising global interest rates: Moody’s

Just days after the World Bank said possible plans by Sri Lanka to roll over its commercial debt or international sovereign bonds (ISBs) will be an uphill task come maturity, Moody’s Investors Service this week expressed similar concerns

Sri Lanka to regulate hooch to plug tax gaps

AFP: Sri Lanka is to start regulating the traditional home-brewed alcohol known locally as toddy in an effort to increase its tax revenues, a government spokesman said this week.

Shares hit over 10-week closing high on banks

REUTERS: Sri Lankan shares rose about 1 percent yesterday in heavy trade and posted their highest close in more than 10 weeks, with banks leading the gains, brokers said.

Mangala to present ‘designer budget’ next month

Finance and Mass Media Minister Mangala Samaraweera will present a “designer budget” next month that will focus on a start-up culture of “empowering the private sector,” a Finance Ministry communiqué said.

Higher the number of accountants higher the economic growth: AAT President

Association of Accounting Technicians of Sri Lanka (AAT) President J.M.U.B. Jayasekera this week requested the government to stimulate economic growth by facilitating the training of 100,000 accountants.

Breathing life into business confidence

Given current sentiments and the high inflationary regime of over 7 percent coupled with the slow pace of Foreign Direct Investments, the International Monetary Fund’s growth projection of 4.7 percent for Sri Lanka in 2017 was encouraging and optimistic as espoused by many. 

HNB launches state-of-the-art ‘Centre of Aspiration’

Sri Lanka’s most digitally innovative bank, HNB PLC, announced the launch of its state-of-the-art Centre of Aspiration, a new centralized unit within the bank dedicated solely to manage the bank’s debt collection operations.

HSBC names John Flint as next CEO

REUTERS: HSBC has named John Flint as its next chief executive the bank said on Thursday, sticking with its model of always promoting company insiders to run the firm.

Executing a smarter trade strategy – Four ideas from five experts

At the recently held ‘Sri Lanka Economic Summit 2017’, Sri Lankan and international speakers shared their views and recommendations on Sri Lanka’s trade reform efforts and the direction it should take, under the theme of ‘Executing a Smarter Trade Strategy Amidst Turbulence’. In this article, we capture the insights shared by these experts. 

Rupee extends losses on importer dollar demand

REUTERS: The Sri Lankan rupee ended weaker for the fourth consecutive session yesterday as banks bought dollars on behalf of state-run Ceylon Petroleum Corp, which stocked up crude ahead of an expected fuel price hike, dealers said. The spot rupee ended at 153.72/80 per dollar, weaker from Wednesday’s close of 153.50/60.

MTI in Perth to strengthen research ties with UWA

MTI CEO Hilmy Cader arrived in Perth to strengthen ties with the University of Western Australia (UWA), with the intention of jointly exploring opportunities in Sri Lanka for research and executive education.

Central Bank to aid war-hit families in debt trap

The Hindu: Sri Lanka’s Central Bank will evolve a programme to help the country’s war-affected communities tackle the mounting pressure of household debt, according to  its chief.

Seylan Tikiri, the account that values every child

Launched in 1991, Seylan Tikiri is the pioneer in minor savings accounts and is evolving rapidly with innovative services to cater to the diverse needs of its vast customer base.

An overview on reintroduction of capital gains tax under new Inland Revenue Act

  Former Finance Minister Ravi Karunanayake in his budget speech for 2017 stated that the tax system of the country is revisited with emphasis being made on the creation of a much simpler tax regime with minimum tax exemptions and a broadened tax base. 

Japan’s Denso appoints Laugfs Int’l as authorized distributor in Sri Lanka

Japan’s Denso Corporation, a reputed global automotive components manufacturer, recently signed a memorandum of understanding (MoU) with Laugfs International, the trading arm of Laugfs Holdings, a diversified business conglomerate in Sri Lanka, appointing the company as the authorized distributor in Sri Lanka for Denso automotive parts.

More than 50 ComBank branches to stay open on Deepavali Festival Day

The Commercial Bank of Ceylon has announced it will keep more than 50 branches open for business on Wednesday, 18th October, a public and bank holiday in respect of Deepavali |Festival Day. The Commercial Bank branches that will operate on that day include the bank’s 29 supermarket banking centres and 13 MiniCom branches which will work their customary hours, and another 16 branches that will be open from 9:00a.m. to 1:00p.m. to serve custo