Emerald and AOD Look To Redesign Local Industry

Emerald International (Pvt) Ltd, Sri Lanka’s premier menswear brand, recently signed an MOU with the Academy of Design (AOD), Sri Lanka’s pioneer in Design Driven Innovation, to formalize their 

Crunching the numbers: What is real export benefit of GSP Plus to Sri Lanka?

Sri Lanka’s overall exports to the European Union (EU) can increase by US $ 480 million – almost 15 percent on average – from the current earnings of US $ 3,275 million to US $ 3,756 million, as a result of regaining the Generalized Scheme of Preferences Plus (GSP Plus) benefit, according to the preliminary estimates using a partial equilibrium model.

Education allocations must target youth unemployment

There is now a commitment to increase the number of students entering universities by 2020 and also to allocate more funds for vocational training. The current intake to government universities is around 25,000 per year. Nearly 60 percent (150,000) of the students, who sit for the exam and satisfy the minimum requirement, cannot enter the universities. While this proposal is certainly a positive move,

How does Sri Lanka score in growth?

While some may think Sri Lanka’s cricket team did well in the recent Champion’s Trophy, myself included, vigorous debates have been going on, on TV and social media and even here in our office, which clearly suggest that not everyone agrees on their performance. 

Gated Community Living – Becoming Popular in Suburban Sri Lanka

Sri Lanka has been rapidly developing since the end of a three-decade civil war. The political stability of the country and its infrastructure development has helped the economy progress over the last few

Tea exporters highlight consequences of not liberalizing tea imports

The proposal for liberalization of tea imports has been debated for over 15 years without any decision. The Tea Exporters’ Association (TEA) of Sri Lanka’s request for liberalization was included in the 2016 government budget approved by parliament. However, it was not implemented due to strong objections from some stakeholder members.

Excessive corn protectionist policy to swell chicken prices, jeopardize industry

The authorities’ excessive measure to protect the corn farmers would have a devastating impact on the chicken industry in Sri Lanka, the industry specialists warn.

ComBank website adjudged best in finance sector at SLT ZeroOne Awards

The website of Commercial Bank of Ceylon was adjudged the best in Sri Lanka’s financial sector at the inaugural SLT ZeroOne Awards presented by Sri Lanka Telecom (SLT).

Janashakthi contingent attends MDRT Conference in USA

Janashakthi Insurance PLC announced that the Million Dollar Round Table (MDRT) qualifiers from its life insurance sales team attended the prestigious MDRT Conference that was held in Florida, USA, recently. 

Pan Asia Bank offers ‘Nivasa’ home loan with 10-year fixed interest rate

In a bid to meet the rapidly increasing demand for a hassle-free housing loan, Pan Asia Bank has come up with an option to enable the customers to obtain a home loan without the hassle of paper work.

Ceylinco Life fastest to take its Life Fund past Rs.80bn

The Life Fund of Ceylinco Life crossed Rs.80 billion in May 2017, making it the fastest-growing Life Fund in the local industry, the life insurance market leader has announced.

SLI produces 60-member contingent for USA MDRT Conference

Sri Lanka Insurance (SLI) saw 60 of its top life insurance sales achievers qualifying for the elite Million Dollar Round Table (MDRT) Annual Conference 2017 held recently in Orlando, Florida, USA. Participation at the MDRT is a seal of excellence for the public to trust, that they are working with the best in the business for life insurance solutions.

Modi set to go ahead with sale of Air India

Indian Prime Minister Narendra Modi is expected to give the go-ahead for the government to sell off loss-making Air India. It now has more than US $8 billion of debt — equivalent to the value of the company.

THASL wants members to rethink recruitment policies to attract millennials

The Hotels Association of Sri Lanka (THASL) is urging its members to rethink talent acquisition and management policies in order to make the leisure industry more attractive for millennials, as the tourism industry forges ahead on becoming the country’s leading income earner.

Ube Singapore ups stake in Tokyo Cement

Ube Singapore Holdings Pte. Ltd has upped its stake in Tokyo Cement Company (Lanka) PLC, a joint venture between Sri Lanka’s St’ Anthony’s group and Japan’s Nippon Coke. A disclosure by Lanka 

Singapore’s Somap to inject fresh capital to indebted Anilana Hotels

The indebted Anilana Hotels & Properties PLC said yesterday that Singapore-based Somap International Pte. Ltd. is currently carrying out a due diligence on the company to acquire 51 percent of its capital by way of an issue of new shares.

Motor vehicle registrations in May rebound; but down YoY

Vehicle registrations across most categories for May 2017 fell below levels experienced in May 2016 mainly due to new loan-to-value (LTV) ratio restrictions and higher interest rates, although registrations recorded a rebound from a slow April due to the extensive new Year holiday.

Record trade deficit undermines SL’s recent uptick in exports

Despite export earnings making a brisk upturn in April, extending the gains in March, Sri Lanka’s trade deficit remains at worrying levels as the country’s imports bill continues to rise. 

Sri Lanka Telecom Hosts ‘SLT Zero One Awards’ Ceremony

The 22nd of June 2017 saw Sri Lanka Telecom host the SLT Zero One Awards ceremony at the Grand Ballroom of Hilton Hotel in Colombo. The event was live telecast on PEO TV and all other

Nestomalt presents third car to lucky Ran Ratha Wasana winner

Nestomalt, Sri Lanka’s leading beverage brand for over five decades, announced the third lucky winner of its Ran Ratha Wasana raffle draw, Ms. B.W.C.K Jayasekara from Madawella, 

Blue Mountain wins 8 awards at the Asia Pacific Property Awards 2017

The Blue Mountain Group’s most iconic real estate development to date, Achilleion was recently recognized as one of the top three apartments in the Asia-Pacific region, at the Asia Pacific Property

Scan Products commends ‘Achievers of The Year’ recipients

The Scan Products Division, which comprises of the FMCG arm under C. W. Mackie PLC, held its Annual Sales Conference on the 5th and 6th of May , 2017 at the Club Palm Bay Hotel, Marawila.

Allianz Lanka Offers a Ray of Hope to Customers Affected By Floods

Sri Lanka faced one of the worst natural disasters in recent times in May this year. The floods and landslides had caused extensive damage to lives and property in 10 major districts around the island.

Coca-Cola Partners With Sri Lanka Red Cross For Emergency And Long-Term Flood Relief Operations In G

Coca-Cola Beverages Sri Lanka Ltd. joined hands with the Sri Lanka Red Cross Society - Gampaha Branch, to carry out intensive emergency disaster relief and rehabilitation activities following the

CB says Qatar-Gulf crisis could pose threat to remittance inflows

The Central Bank last week expressed concern over the prolonged diplomatic spat between Qatar and its Arab neighbours as the spillover effects of the development could hurt Sri Lanka’s biggest foreign exchange earner, worker remittances. 

IMF wants new Inland Revenue Bill in parliament to release third tranche

The International Monetary Fund (IMF), which held back the second tranche of the US $ 1.5 billion bailout package last year until the value-added tax (VAT) was raised from 11 percent to 15 percent, is now delaying the release of the third tranche until the government tables the new Inland Revenue Bill in parliament. 

Court refuses to vacate interim order on proposed sale of HNB shares to ADB

Business tycoon Harry Jayawardena last week managed to prevail against the attempts of the majority of the Hatton National Bank PLC (HNB) director board to vacate an interim order obtained by Jayawardena’s Stassen group to halt the process of gaining shareholder approval to issue HNB shares to the Asia Development Bank (ADB).

Step-up share transaction fee effective from today

A step-up share transaction fee structure introduced by the Colombo Stock Exchange (CSE) will come into effect today, the CSE said last week.

Laugfs forms subsidiary to carry out residential apartment projects

Sri Lanka’s diversified private sector cooking gas distributor said it has incorporated a subsidiary to undertake residential apartment complex projects.

Arpico plays lead role in flood relief efforts

With the disasters that arose in several parts of the country, Arpico CSR was activelyinvolved in helping those adversely affected by floods and landslides.