Siddhalepa conducts ayurveda clinic for Prime Minister office staff

Siddhalepa, the leading ayurvedic hospital which organizes a series of ayurveda clinics for government employees to maintain their good health in order to serve the nation better, recently conducted a historic ayurveda clinic at Prime Minister’s office in Colombo recently.

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Overseas Realty June quarter edges up on rental income

Overseas Realty (Ceylon) PLC (OSEA), the local unit of the Singapore-based real-estate group, reported an earnings of 66 cents a share or Rs.811.8 million for the April-June quarter, up 6.3 percent from the same period last year, as revenue from the apartment sales of Havelock City Phase 3 could not be recognized according to the accounting standards.   

LSEG Sri Lanka wins two CEO Awards

The London Stock Exchange Group – Sri Lanka (LSEG SL) was feted with two prestigious awards at the recently concluded Annual LSEG CEO Awards, taking top honours in the categories for responsible business and excellence.

DFCC Bank at Karlsruhe Sustainable Finance Awards for fifth consecutive year

DFCC Bank was awarded a Certificate of Merit for ‘Outstanding Business Sustainability Achievement’ at the Karlsruhe Sustainable Finance Awards organised by the Global Sustainable Finance Network which was recently held at the Karlsruhe City Hall, Germany.

Seylan Bank June net up 25% but asset quality weakens

Seylan Bank PLC reported earnings of Rs.3.74 a share or Rs.1.32 billion for the June quarter (2Q17), recording an increase of 25 percent year-on-year (YoY) amid weaker growth in loans, compressed margins and higher loan-loss provisions, the interim results of the bank showed. 

Generation Next appoints Rajeev Gooneratne as Sri Lanka CEO

Generation Next Communications Pte Ltd., (GENXT) Singapore, a leading mobile and IT distributor within Asia has appointed Rajeev Gooneratne as their new Chief Executive Officer to head the operations of Generation Next Communications Sri Lanka. 

SDB holds Lakdaru grade-five scholarship seminars

SDB bank held a series of seminars for students facing the grade-five scholarship exam this year. Organized as a CSR initiative under SDB’s Lakdaru children’s savings account, the bank holds these seminars every year throughout the country to support and encourage students to successfully face and overcome the first big hurdle in their lives. SDB has also organized a Bodhi Puja pinkama on 18th August at the Kelaniya Raja Maha Viharaya

HNB takes top honours at CMA Integrated Reporting Awards 2017

Hatton National Bank (HNB), won significant recognition at the recently concluded Excellence in Integrated Reporting Awards 2017, winning an award for the Ten Best Integrated Reports.

Cargills group in deal with Bank of China

The Cargills group yesterday said it entered into an agreement with Bank of China Limited to promote cooperation and strengthen business ties between the two entities.

How boutique properties can stand out in a crowded market

Sri Lanka is witnessing a surge in tourism that has the potential to make it one of the most popular tourist destinations in the world. The country attracted over two million tourists in 2016, generating revenue of over US$3.5 billion, up by 14 percent from the previous year.

Hirdaramani Woven Puthukudiyruppu factory achieves Leed Platinum status

Hirdaramani Woven Puthukudiyruppu was awarded the Leed Platinum certification established by the US Green Building Council and verified by the Green Building Certification Institute (GBCI). 

One Verge Holdings renews partnership with India’s Apalya Technologies

One of Sri Lanka’s second generation digital companies – One Verge Holdings (Pvt) Ltd recently renewed its partnership with pioneers of mobile video streaming, Apalya Technologies (Pvt) Ltd that has presence in over 11 countries across South and South-East Asia, Middle East and Africa. 

idea2fund’s Bakamuna collaborates with Theatre Junction on musical

Bakamuna recently collaborated with Theatre Junction as the official design partner for the contemporary musical ‘Cinderella’ which concluded on August 1st. 

Ceylon Chamber presents proposals to fast-track PPPs under new agency

The Ceylon Chamber of Commerce’s National Agenda Committee on Infrastructure presented a set of recommendations on fast-tracking Private-Public Partnerships (PPP) to the Minister of Finance and Media Mangala Samaraweera recently, and highlighted the need for a robust institutional and operational set up for the new PPP agency.

Korea Eximbank completes feasibility study on ICT hub establishment

The Export-Import Bank of Korea (Korea Eximbank) has completed the KSP-ADB Joint Consulting Programme for establishment of an ICT hub for secondary education project. 

BOC introduces multi-currency pre-paid travel card

Power-up your wallet with the ‘BOC Travel Card’ as your most trusted companion before you begin your foreign tour wherever you would want to go. 

Cinnamon Future of Tourism Summit to explore technology, innovation and authenticity

The Cinnamon Future of Tourism Summit will be held on 26 September as a one-day conference that will deliberate and draw examples from the best practices around the world on the theme ‘Innovation, Technology and Authenticity’. 

Emirates recognised in FTE Airline Passenger Experience Power List 2017

Emirates has been recognised in the Future Travel Experience (FTE) Airline Passenger Experience Power List 2017. 

Taxes in international trade: Half of total tax revenue in 2016

Year after year, Sri Lanka continues to rely heavily on foreign trade taxes as a key source of government revenue and the latest fiscal numbers for 2016 show that this trend has not abated. Taxes on foreign trade accounted for 50.5 percent of the total tax revenue generated in 2016 and a handful of import tariff lines contributed the bulk of import duties.

Central Bank conducts first treasury bonds auction under new system

The CBSL conducted its first Treasury Bond auction under the new issuance system on July 27th.  The new transparent hybrid system draws on the strengths of a market based auction system, while accommodating the compulsions of having to raise Rs 1 trillion worth of bonds in a relatively thin market to meet the government’s borrowing requirement in 2018.

Virtusa recognized for ‘Best Use of CSR Practices’ at Sri Lanka CSR Leadership Awards 2017

Virtusa Corporation received the award for Best Use of CSR Practices in the IT Industry at the Sri Lanka CSR Leadership Awards 2017 held at the Taj Samudra recently.

John Keells Hotels June quarter in red due to resort refurbishments

John Keells Hotels PLC (KHL), the hotel and resort operator of Sri Lanka’s largest business conglomerate John Keells Holdings PLC, posted a Rs.230.94 million net loss for the first quarter of 2018, nose-diving from a Rs.83.93 million net profit year-on-year (YoY) due to refurbishments and reconstruction.

Amana Bank June profit up on stretched margins but sour loans expand

Amana Bank PLC, Sri Lanka’s first non-interest based Islamic bank reported an earnings of 7 cents a share or Rs.85.2 million for its most recent quarter ended in June 30, 2017 (2Q17) as it managed to stretch its margins but the doubtful and sour loans increased, the interim results showed. 

IndiGo appoints Hemas Aviation as General Sales Agent for Sri Lanka

In its endeavour to expand and strengthen its presence in international markets - IndiGo, India’s largest and fastest growing low-cost carrier has today announced the appointment of Hemas Aviation as their General Sales Agent (GSA) in Sri Lanka. 

Vietnam delegation to hold biz forum, B2B meetings at CCC

A 24-member business delegation organized by the Ministry of Industry and Trade Vietnam will be visiting Sri Lanka this month. 

PayMedia wins big at Disrupt Asia 2017

Over the past couple of years, Sri Lanka has seen an immense growth in its startup ecosystem, producing a number of startups that have gained a competitive edge in the global market Amongst these top players was DirectPay,a part of PayMedia ,specialized in embedded and unique software solutions for the finance industry.who were recently recognized as the runner up for their innovative solution ‘DirectPay’ at the  Hemas Slingshot

Generation Next Singapore appoints Rajeev Gooneratne as CEO for Sri Lanka

Generation Next Communications Pte Ltd., ( GENXT), Singapore a leading mobile & IT distributor within Asia has appointed Rajeev Gooneratne as their new Chief Executive Officer to head the 

DFCC Bank recognised at Germany’s Karlsruhe Sustainable Finance Awards For 5th Consecutive Year

DFCC Bank was awarded a Certificate of Merit for “Outstanding Business Sustainability Achievement” at the Karlsruhe Sustainable Finance Awards organised by the Global Sustainable Finance Network 

Sadaharitha Plantations celebrates 15 years of operations

In August this year, Sadaharitha Plantations will celebrate 15 years of enhancing Sri Lanka’s forest cover by encouraging over 26,000 investors to grow trees as a long and mid-term lucrative investment.