Industry Stalwarts Positive on Investment Opportunities at Investor Forum Sri Lanka 2017

Sri Lanka needs better investor friendly legislation to attract more foreign investors – was the general consensus by industry experts at the recently concluded Investor Forum Sri Lanka, organized by the

New SEC Act to address issues outlined by IOSCO: official

The new Securities and Exchange Commission (SEC) Act, which is currently with the Legal Draftsman’s Department, will address the gaps in the regulatory system, which were outlined by the International Organization of Securities Commissions’ (IOSCO) Country Review, an SEC official said. “All those concerns will be taken care of under the new Act when it is passed in parliament,” SEC Director General Vajira Wijegunawardane s

SBI Japan to acquire 20% of Wealth Trust Securities

Tokyo-based SBI Holdings has entered into an agreement to acquire 20 percent of the shares of Sri Lanka’s Wealth Trust Securities Limited (WTS).

ADB assures continuous support for SL’s urban development programme

Manila-based development lender, Asian Development Bank (ADB), this week reiterated its pledge to continuously support Sri Lanka in its urban development programme and said would even step up its assistance going forward.  

EU pledges Rs.5.4bn to support Uva and Central provinces  

The European Union has pledged Rs.5.4 billion (EUR 29.7 milliion) to reduce poverty in Uva and Central provinces of Sri Lanka by improving the living conditions and food security of the people living in the two provinces.

Nation-wide inflation accelerates to 7.9% in August

Sri Lanka’s nation-wide inflation, measured by the change in the National Consumer Price Index (NCPI), rose to 7.9 percent in August on a year-on-year (YoY) basis, accelerating from 6.3 percent a month ago, the data released by the Department of Census and Statistics showed. 

SL tea output rises 6.14% YoY in August

REUTERS: Sri Lanka’s tea output rose 6.14 percent due to good weather in August, the state-run Tea Board said on Wednesday, while industry officials also attributed the gain to lower production last year. Production in the first eight months of the year edged up 3.99 percent compared to the same period last year.

CIMA President meets Finance Minister

Chartered Institute of Management Accountant (CIMA) President David Stanford yesterday paid a courtesy call on the Minister of Finance & Mass Media Mangala Samaraweera at the Treasury. Stanford was accompanied by CIMA Regional Vice President Venkkat Ramanan and two other CIMA officials. 

Hameedia new range of shoes to complete your fashion statement

Hameedia, Sri Lanka’s leading menswear specialist, has introduced a new collection of genuine leather mensshoes at their stores. The six new styles range from dress shoes to more casual shoes, 

Nestlé ranked Sri Lanka’s No. 1 Most Respected F&B Company once again

Nestlé has been ranked Sri Lanka’s Most Respected Food and Beverage Company in LMD’s Most Respected Entities Publication for 2017. This is the second consecutive year the company was 

Ogilvy PR Sri Lanka wins top Asia Pacific award for Right to Information Campaign

Ogilvy Public Relations Sri Lanka succeeded in finishing ahead of 1,200 of the best award entries from across the Asia Pacific region at the SABRE APAC Awards held in Hong Kong recently. 

Allianz ranked No.1 insurer in Dow Jones Sustainability Index

Allianz Group has taken the leading position among all rated insurance companies in the latest Dow Jones Sustainability Index (DJSI). Allianz has been one of the most sustainable companies in the

Zone 24x7 named best value added exporter in hi-tech and innovative products sector

Zone 24x7 Pvt Ltd, part of a global end-to-end technology innovations company established in 2003 with its headquarter based in Silicon Valley, California, was again for the third consecutive year 

Qatar Airways extends spectacular ‘Global Travel Boutique’ promotion for two additional days

Qatar Airways is pleased toextendits ‘Global Travel Boutique’ promotion for two additional days, offering passengers from around the world amazing fares on flights in both Economy and Business 

Sony introduces products for SHAKE Models and EXTRABASS speaker line-up

Sony International (Singapore) Ltd. this week launched a range of new products for the SHAKE Models and EXTRABASS speakers to the local market in collaboration with Singer Sri Lanka, the authorized distributors for Sony in Sri Lanka at a gala event held at Waters Edge Hotel Battaramulla.  The impressive range of new products under the SHAKE Models and the EXTRABASS series have 

Solakro Paints receives bronze at CNCI Achiever Awards

GB Coatings Pvt Ltd, one of the leading companies who manufacture interior and exterior paints and related products won the bronze award in National Level Manufacturing Sector - Medium Categoryat Achiever Awards Ceremony 2017 organized by the Ceylon National Chamber of Industries (CNCI).  GB Coatings Pvt Ltd has risen to the esteemed ranks of having won several awards at the National 

Megapolis minister says managing public opinion and finding capital crucial for planned development

The government yesterday stressed upon the need for the public to have a more open mindset with regard to the nation’s physical infrastructure development agenda, so that the plans formulated can be executed in an effective and timely manner.

Founder of world’s largest hedge fund, says ‘bitcoin is a bubble’

CNBC: Bridgewater Associates founder Ray Dalio said this week he is not a believer in cryptocurrencies.

Sri Lanka seeks to reschedule debt repayments via new bill

REUTERS: Sri Lanka plans to reschedule some loans to ease its heavy debt repayment burden over the next two years through a new bill, a top government official told  Reuters yesterday.

LECS partners Metropolitan as Gold Partner for ‘Office 2017’ 

Workplace solutions leader Metropolitan Holdings Pvt Ltd, partnered as the Gold Sponsor for Office 2017 an exclusive exhibition showcasing the complete workplace solutions to be held in September. The exhibition has been scheduled to commence on 29th September and conclude on the 1st October at the Sirimavo Bandaranaike Memorial Exhibition Centre in Colombo. 

Ownership change won’t affect Singer Sri Lanka rating: Fitch

Fitch Ratings yesterday said the acquisition of Singer Sri Lanka by Hayleys PLC would have neutral impact on the former’s rating as Hayleys’ ability to provide extraordinary support to Singer, if required, remains limited.

BOC emerges ‘Trade Round Champions’ at Inter-bank trade quiz

Bank of Ceylon’s team for the Inter-bank trade quiz organized by the Trade Finance Association of Bankers (TFAB) became the champions for the ‘trade round’, winning the one time award for the  anniversary and first runner-up to the trophy. 

Lingerie brand Amante looks to expand portfolio in India

PTI: MAS Brands India, which launched the Amante brand in 2007, is looking at operating 100 stand-alone stores in 15 to 20 cities in the next three to five years. 

hSenid Mobile Solutions hosts ‘TADHack Sri Lanka’ again

It is time once again for TADHack Global, the annual meeting place for telecom application developers around the world to innovate and inspire. Locally powered by hSenid Mobile Solutions, TADHack Sri Lanka will be hosted for the fourth consecutive year in Colombo from the 30th of September to 1st October. 

As water vanishes in Sri Lanka, baths - and snakes - present new risks

Thomson Reuters Foundation: For four months, Achini Dinesha’s life has revolved around water – or, more precisely, the lack of it.

Fitch affirms Alliance Finance at BB+(lka); Withdraws Ratings

Fitch Ratings has affirmed Alliance Finance Company PLC’s (AFC) National Long-Term Rating and the ratings on its outstanding senior unsecured debentures at ‘BB+(lka)’. The Outlook on the National Long-Term Rating is Stable.

Saranga and Diankshie join iflix as brand ambassadors

iflix, the world’s leading entertainment service for emerging markets, offering subscribers unlimited access to thousands of TV shows and movies, welcomes Sri Lankan celebrities Saranga Disasekara and Diankshie Priyashad as brand ambassadors.

ComBank innovates again with ‘FastPay’ – new mobile payment option

The Commercial Bank of Ceylon has launched its own mobile payment option, enabling account holders to make instant cash-less transactions via the bank’s existing mobile banking app, through a simple and innovative mobile payment option.

Entrepreneurship and microfinance backbone of Lankan economy : SDB Bank Director

Expressing views on the Sri Lankan MSME sector alongside the reasons for its unwavering confidence in SDB Bank’s growth potential, Non-executive, Non-independent Director, the largest shareholder as at 31st August 2017 with 11percent stake in SDB, and the Managing Director of Global Rubber Industries (Pvt.) Ltd. Prabhash Subasinghe underscored the fact that entrepreneurship and microfinance sector has tremendously supported and consolidated

Jaffna stakeholders participate in key regional consultations for National Export Strategy

Regional Consultations as part of the design of Sri Lanka’s National Export Strategy (NES) took place in Jaffna recently.