Odel to invest US $ 106mn in mixed development project

Sri Lanka’s leading lifestyle retailer Odel PLC yesterday revealed plans to invest US $ 105.7 million in a mixed development project at Ward Place, Colombo 7.

Moody’s forecasts 20% annual growth in new loans for HNB post-rights issue

Moody’s Investors Service this week said Hatton National Bank PLC (HNB) would grow its loan book by as much as 20 percent per annum during the two years to March 2019 as the bank would complete its rights issue that would inject as much as Rs.15.0 billion in fresh equity by the end of this month. 

Rupee ends firmer; cenbank dollar buying curbs rise

REUTERS: The Sri Lankan rupee ended slightly firmer yesterday due to greenback sales by banks and exporters, while the Central Bank’s dollar buying prevented an appreciation in the local currency, dealers said.

China sends troops to open first overseas military base in Djibouti

REUTERS: Ships carrying personnel for China’s first overseas military base, in Djibouti in the Horn of Africa, have set sail to begin setting up the facility, as China’s rapidly modernising military extends its global reach.

Sri Lanka to receive US $ 1,340 million WB assistance

Sri Lanka is to receive US $ 1,340 million worth of financial and technical assistance from the World Bank Group for the three-year period starting from July 1, 2017, under the International Development Association (IDA) Transitional Support Facility. 

Shares ends steady in moderate trade; foreigners sell

REUTERS: Sri Lankan stocks ended steady yesterday as gains in consumer staple shares were offset by industrial stocks led by John Keells Holdings PLC, while concern over a proposed tax bill weighed on overall sentiment.

Blue Ocean Group ventures into travel industry

Sri Lanka’s largest condominium developer – Blue Ocean Group of Companies recently ventured into a new vertical, the burgeoning travel and leisure industry by opening its  travel  arm –  ‘Blue Ocean Travels’, last week. 

New SAP Leonardo Services and Offerings ease digital innovation path

SAP SE today announced new digital innovation services and tools for SAP Leonardo to help customers become digital and realize business value from data across their organization. 

German Ambassador to speak at NCC event

German Ambassador Joern Rhode will be the special guest speaker at a session on ‘Bilateral trade between Sri Lanka and Germany’ organised by the National Chamber of Commerce of Sri Lanka (NCC), on Thursday, July 20, 2017, from 3:00 p.m. to 4:30 p.m., at the chamber auditorium, No: 450, D.R. Wijewardena Mawatha, Colombo 10.

Naveen Ceramic launches latest range of tile products

Naveen Ceramic recently launched its latest range of tile products called Italy Rock under Nanogress Porcellanato. 

Unemployed graduates: A waste of money on education?

We, as Sri Lankans, can boast of the high literacy rate mainly achieved through free education prevalent in the country, amidst so many setbacks, so long as the employers seek literacy only from their employees. Unfortunately, that era has gone long ago, leaving its outdated education system, that still delivers results, the validity of which is challenged. 

Commercial Bank presents school shoes to flood-affected children in Baduraliya

The Commercial Bank of Ceylon recently presented Rs.750,000 worth of footwear to 500 children who were affected by 

UltraTech Cement Lanka’s in-house lab awarded ISO accreditation

UltraTech Cement Lanka was awarded an ISO certification of accreditation by the Sri Lanka Accreditation Board for Conformity Assessment (SLAB) at World Accreditation Day 2017 for maintaining an internationally certified testing laboratory. 

Millennium Housing launches 3rd high-rise in Rajagiriya

The 3rd high rise project of Millennium Housing Developers PLC, the Green Heights at 504 Rajagiriya was launched by fully owned subsidiary MC Developers (Pvt) Ltd, the company’s marketing division announced this week.

SriLankan launches services to Hyderabad

SriLankan Airlines launched new services from yesterday to India’s fourth largest city Hyderabad, the capital of the state of Telangana.  

Insee Cement launches road safety awareness programme in Katunayake free trade zone

Sri Lanka’s premier cement manufacturer, Insee Cement has joined hands with the Board of Investment (BOI) and Sri Lanka Police to launch a road safety awareness programme targeting Katunayake Export Processing Zone (KEPZ). 

How global warming will hurt Asian economic growth

We all know that if global warming continues unchecked, there will be dire consequences for the environment. But economies will also be severely affected.

Hameedia rewards HR conference participants as official clothing partner

Hameedia was privileged to be the official clothing partner for the National Human Resource Conference 2017, organized by the Institute of Personnel Management (IPM). 

CMA conference to address creating value through digitisation

Value creation is at the heart of every business. In the past, it involved achieving economies of scale and optimising repetitive tasks. 

Ulagalla sweeps Golden Panther Award for ‘Best Boutique Hotel’

Ulagalla, one of Uga Escapes’ renowned boutique properties, took away a Golden Panther Award for ‘Best Boutique Hotel’ 2017 at an awards ceremony held in Germany. 

Serendib Flour Mills delivers first state-of-the-art tanker silo to Diana Biscuits

Serendib Flour Mills (SFML) recently delivered its first state-of-the-art tanker silo to Diana Biscuits and is set to offer this efficient and environmentally-friendly storage option to other customers as well. 

EDB calls applications for PEA ‘Leadership Excellence in Export Drive’ Award

The Sri Lanka Export Development Board (EDB) invites applications from holding companies/conglomerates registered in Sri Lanka for awarding a Special (Overall) Award on ‘Leadership Excellence in the Export Drive’ in recognition of their contribution to the export development drive of the country during the year 2016.

Dinuda Resort brings impressive tourist services

Dinuda Resort facing Kalpitiya lagoon, a sumptuous gift of mother nature is a tourist hot spot that has woven its fascination in the hearts of local and foreign tourists. 

Regulating microinsurance in Sri Lanka: Striking a balance

The introduction of the Microfinance Act in 2016 has caused many to believe that the concurrent regulation for the microinsurance sector is a natural consequence. In fact, the Insurance Board of Sri Lanka (IBSL) has intimated that the introduction of new regulations is to encourage the growth of the ‘pro-poor’ insurance market. 

Big data will lower real estate risk

What if you could predict the future? What would you do? As an investor this would be a dream come through and with advancements in machine learning it is now not just a fantasy; predicting the future is now  a reality.

Atlas Axillia ties-up with China’s top office stationery brand ‘Deli’

Atlas Axillia recently announced a strategic partnership with Deli, China’s no 1 brand in office stationery to offer consumers a wider range of high quality school and office stationery supplies. 

Tourism Development Ministry identifies Mannar District for major tourism infrastructure

The Ministry of Tourism Development has identified Mannar District for major tourism infrastructure development projects. Already over Rs.40 million has been spent on making the beach areas tourist friendly and many other projects are being planned in order to make the district the main hub for tourism in the region. 

NHRDC-CA Sri Lanka hold workshop on role of public sector audit committees

The National Human Resources Development Council of Sri Lanka (NHRDC) and Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) kicked off a fresh initiative last week in an effort to enhance good governance and best practices of the audit committees of public enterprises and departments by jointly organising a workshop. 

Central Bank Governor Indrajit Coomaraswamy presents Finance Minister Mangala Samaraweera the commem

Central Bank Governor Indrajit Coomaraswamy presents Finance Minister Mangala Samaraweera the commemorative coin

BOC ranked among world’s top 1000 banks again

Bank of Ceylon has yet again reaffirmed its position among the top 1000 banks in the world with the country rank No.1 according to the ‘The Banker’ U.K. Magazine July 2017 issue.