Amãna Bank rights issue infuses US$ 22 mn FDI to economy

Amãna Bank’s recently concluded 1 for 1 rights issue and brought in foreign direct investments valued at over US$ 22 million to the country. 

People’s Bank marks Int’l Youth Day with YES Savings account benefits

Commemorating International Youth Day, People’s Bank offers an attractive bundle of benefits to the Sri Lankan Youth through the YES Savings account. 

HSBC appoints new retail banking and wealth management country head

HSBC Sri Lanka has appointed Nadeesha Senaratne as Country Head of Retail Banking and Wealth Management with effect from July 01, 2017.

Prestige Automobile introduces the futuristic BMW G30 5 series plug-in hybrid to the Lankan market

The all new BMW 5 series plug-in hybrid was unveiled to the Lankan marketby Prestige Automobile Pvt. Ltd., the sole authorised importer and distributor of BMW,MINI and Hyundai vehiclesin Sri Lanka,

Creative Software’s expansion testifies to growth of local IT sector

Only months after moving into their modern eight-storey R&D centre in the heart of Colombo, leading software company Creative Software is at risk of outgrowing their premises yet again.

iflix secures US$133mn funding to provide world’s best entertainment

iflix, the world’s leading subscription video on demand (SVoD) service for emerging markets, announced it has completed a US$133million funding round as it continues to deliver on its vision of bringing the world’s best entertainment to its audiences.

Mitra Innovation now an AWS Standard Consulting Partner

Sri Lankan/UK based company Mitra Innovation - specialising in Cloud integration, digital transformation, and product incubation – has become a Standard Consulting Partner for Amazon Web Services (AWS). 

Black money and war on cash: The challenge for the government

Last year, India in an effort to combat corruption, tax evasion and counterfeiting, all 500 and 1,000 rupee bank notes were withdrawn from circulation. Many international bankers argue with me that India failed miserably in their demonetization effort. 

Energy in 2050: Clean, free, and for all

In 2050, solar power will end the divide between energy-rich and energy-poor countries. What will the energy industry look like in 2050? It seems far away, in fact it’s 33 years away. But 2017 was an equally distant future 33 years ago. 

Central Bank views on National Payment Platform

In response to the news articles circulating on Total Pay and ICTA, the Central Bank of Sri Lanka (CBSL) wishes to clarify matters to the public and provide an accurate account of events which transpired regarding the National Payment Platform (NPP), in order to deliver a holistic understanding of the prevailing situation. 

NTB June profit growth slows over higher loan loss provisions, taxes

Nations Trust Bank PLC (NTB) reported earnings of Rs.3.05 a share or Rs.702.5 million net profit for the quarter ended June 30, 2017 (2Q17), an increase of just 2.0 percent year-on-year (YoY) amid higher loan loss provisions and taxes. 

Monetary Board suspends Pan Asia Bank’s primary dealer status

The Monetary Board of the Central Bank yesterday announced the suspension of primary dealer status of Pan Asia Banking Corporation PLC (PABC) for six months with effect from August 15, 2017.

Nawaloka Hospitals June profits soar amid higher healthcare spending

Leading private healthcare services provider Nawaloka Hospitals PLC posted Rs.83.78 million net profit for the first quarter of 2018 ended this June, up 84.82 percent year-on-year (YoY), as increased consumption of healthcare services was witnessed during the quarter due to the dengue epidemic that spread across the island.  

Shares record steepest drop in 5 months despite foreign buying

REUTERS: Sri Lankan shares posted their worst decline in nearly five months yesterday, as local investor sentiment remained muted, after a string of disappointing June-quarter corporate results. However, foreign investors bought the island nation’s risky assets, with offshore buying accounting for more than 80 percent of the session’s turnover.

Cargills June profit narrows over higher borrowing costs but top-line resilient

Net profit of Cargills Ceylon PLC group fell 2.0 percent year-on-year (YoY) to Rs.751 million or Rs.3.35 a share during the April – June quarter (1Q18) due to higher finance costs stemming from fresh borrowings made and the rising interest rates, the interim financial accounts of the company showed.  The retail giant, which also has commercial banking operations under an associate company, reported a revenue of Rs.22.9 billion compared

Manufacturing and services sector activities expand in July

Sri Lanka’s manufacturing and services sector activities measured by Sri Lanka Purchasing Managers’ Index (PMI) expanded in the month of July, albeit at a slower rate, according to the Central Bank of Sri Lanka.

CB sets record straight on NPP

The Central Bank said yesterday that the proposed National Payment Plan or any other payment platform, such should be regulated as done in other parts of the world.

Ceylon Chamber praises govt. over H’tota port deal

While lauding the government for the steps taken to develop the Hambantota port as a public private partnership (PPP), Ceylon Chamber of Commerce (CCC) yesterday in a statement urged the government to ensure that the principle of collective responsibility is respected to inspire confidence in its decision making process.

All FACETS stalls sold out

The organizing committee of the FACETS International Gem and Jewelry Exhibition announced that all stalls have been sold out at the upcoming exhibition, which is set to begin on 31st August to 3rd September at the BMICH. 

Millennium Project holds inaugural foresight analysis workshop

Asanga Abeyagoonasekera who was appointed as the Sri Lanka node chair by Millennium Project Washington, conducted his first workshop in Colombo on August 8th. 

Sri Lanka Retail Forum 2017 to kick-start next month

The Sri Lanka Retail Forum 2017, is scheduled to take off on 13th of September in Colombo, under the theme ‘Winning the New Consumer: Energizing Retail’.   The Forum will be the Retail industry’s premier event.

High-ranking Customs officials to attend NCC forum

The National Chamber of Commerce of Sri Lanka in collaboration with Sri Lanka Customs will conduct a business forum with a team of high-ranking officials of Sri Lanka Customs on August 23rd from 3.00 p.m to 5.00 p.m at the National Chamber Auditorium, Colombo-10.

EDB to conduct seminar on ‘Digital Doors to Trade’ for exporters

The Sri Lanka Export Development Board (EDB) is organizing a half day seminar on “Digital Doors to Trade” for Sri Lankan exporters on consumer items to create an awareness on Business-to-Business (B2B) and Business-to-Consumer (B2C) digital trade platforms.  The seminar will be held on August 29th  from 9.00 a.m. – 1.00 p.m. at the  EDB auditorium.

We aspire to become a global fabric exporter

This is the 12th of the Mirror Business-Colombo Stock Exchange (CSE) interview series, featuring the top executives of the S&P SL20 companies. Here, Teejay Lanka PLC CEO/ Managing Director Sriyan De Silva Wijeyeratne talks about Teejay’s performance, future plans and industry growth prospects. What are the key milestones that Teejay has achieved so far in 2017? 

Green Energy Champion Sri Lanka 2017 goes carbon neutral

The Carbon Consulting Company, an institution that conducts strategies which measure, manage, mitigate, maximize and help elevate and acknowledge client recognition levels among its stakeholders recently launched the second edition of the Green Energy Champion Sri Lanka 2017 (GEC II) Initiative.

SDB holds Lakdaru scholarship seminar in Galle

SDB bank has organized an island wide Lakdaru Scholarship Seminar Series for Grade-Five students. 

Blood donation camp to commemorate People’s Bank 56th Anniversary

Commemorating the 56th Anniversary of People’s Bank, a blood donation camp was held recently at the People’s Bank Staff Training College in Colombo. 

Insee promotes drug and alcohol abuse prevention through performing arts

Sri Lanka’s premier cement manufacturer, Insee Cement recently joined hands with National Dangerous Drugs Control Board (NDDCB) and Sri Lanka Police to conduct an effective drug awareness campaign that reached over 1,700 school children aged from 14 to 18 in 23 schools in Aruakkalu, Puttalam and Galle. 

SLIM’s Preliminary Certificate in Marketing holds third inauguration

Preliminary Certificate in Marketing (PCM) the foundation course of marketing conducted by Sri Lanka Institute of Marketing (SLIM) had its third inauguration for the current year in July and the fresh intake is now on.

Minodh de Sylva felicitated by CMO Asia

Retail marketing professional Minodh de Sylva was felicitated by CMO Asia at the recently concluded ‘Best Employer Brands in Sri Lanka 2017’ awards ceremony held at the Taj Samudra Hotel, Colombo.