Rupee edges up ahead of cbank rate review

REUTERS: The Sri Lankan rupee ended slightly firmer yesterday ahead of the Central Bank’s policy review as a foreign bank sold dollars, but dollar buying by a state bank prevented further strengthening in the rupee, dealers said.

Fitch sees possible rise in banks’ minimum capital levels

Amid the forthcoming higher capital adequacy requirements that are to be met under BASEL III from as early as July 1, Fitch Ratings says Sri Lanka’s banks may also have to be ready for elevated minimum capital levels as proposed by the last budget. 

Shares slip from 17-mth high ahead of cbank rate review

REUTERS: Sri Lankan shares fell yesterday in low turnover, retreating from a 17-month closing high, as investors awaited the Central Bank’s monetary policy review.

Pro-Am Serendib exhorts Sri Lanka to gear up for global IRONMAN triathlon event in 2018

Pro-Am Serendib (Pvt) Ltd., the official licensee of the World Triathlon Corporation and owner of the IRONMAN global triathlon brand, is gearing up to hold a prestigious international sporting event 

CB advocates calculated approach towards fintech

Sri Lanka’s Central Bank Governor Dr. Indrajit Coomaraswamy is advocating a more measured approach to financial technology (fintech) in the country, despite the significant industry opportunities highlighted by an official from the Singaporean Central Bank.

Jaguar E-Pace: The New Compact Performance Suv

Joining Jaguar’s PACE family of performance SUVs, the E-PACE follows on from the successful F-PACE, which helped boost Jaguar’s sales by 83 per cent last year, and the all-electric I-PACE 

hSenid and Effective Solutions launch ‘MiCar’ robotic car

With a primary goal of creating a networking space for the programming community of Sri Lanka, hSenid Mobile Solutions (hMS), together with Effective Solutions (Pvt) Ltd., recently conducted an event on robotics and programmable cars. 

LG G6 launched for first time in Sri Lanka

Abans recently launched LG’s newest flagship smartphone, the LG G6, for the first time in Sri Lanka, being the country’s sole authorized distributor for LG electronics. 

Lewie Diasz's ‘Marketing & Business STRATEGY’ book launched

'Marketing & Business STRATEGY’ Sri Lanka’s first Management book to be published in UK & USA was launched this week at an event held at the Sri Lanka foundation institute.  

Central Bank seen keeping rates steady as growth slows

REUTERS: Sri Lanka’s Central Bank is expected to keep its key interest rates steady at more than three-year highs at a policy meeting tomorrow a Reuters poll showed, to boost faltering growth hit by adverse weather. 

HVA Foods closes in acquiring state land organic agriculture project

HVA Foods PLC has gained ground on acquiring state land to start its US $ 4 million organic agriculture resort near Wilpattu as a proposal by Land and Parliamentary Reforms Minister Gayantha Karunathilaka to lease 69.9 hectares or 172.2 acres of land to the company has received the cabinet approval. 

Cabinet nod for IFC sell rupee bonds in intl. market

The Cabinet of Ministers has passed a proposal allowing the International Finance Corporation (IFC), a unit of the World Bank Group, to sell rupee bonds in the international market.

SVAT abolishment set for January, next year

The Simplified Value Added Tax (SVAT) scheme will be abolished on January 1, 2018, subject to parliamentary approval, according to a decision taken by the Cabinet of Ministers. 

Japan’s JCB bags SL’s bank cards tender

Japanese banking giant JCB International Co. Ltd will be issuing Sri Lanka’s national banking cards in partnership with LankaClear (Pvt.) Ltd’s LankaPay brand next year, it was revealed on Tuesday. “The partnership was approved last week by the Monetary Board of the Central Bank,” LankaClear CEO Channa de Silva told LankaPay Technovation Awards 2017, which was held on Tuesday in Colombo. 

ComBank’s Rs.10.1bn rights issue oversubscribed

Commercial Bank of Ceylon PLC (ComBank) yesterday announced the oversubscription of its Rs.10.1 billion rights issue, which was aimed at beefing up the bank’s capital base and aiding future growth. 

JKH subsidiary further trims holding in Union Assurance

The John Keells Holdings PLC (JKH) subsidiary, Whittall Boustead Limited, has further trimmed its stake in Union Assurance PLC, to allow the insurer to work towards complying with the continuous minimum public holding rules of the Securities and Exchange Commission. 

IPM holds National Human Resources Conference 2017

Taking human resources to a higher level, IPM National Human Resources Conference 2017 (NHRC), organised by IPM Sri Lanka, was inaugurated at the BMICH this Tuesday.

Ceylinco Life ‘Degree Saver’ helps save for children’s higher education

A new life policy that helps parents save for the higher education of their children has been launched by Ceylinco Life, in recognition of the ever-escalating costs of overseas university education.

SSC to adopt resolution to go green at AGM tomorrow

The annual general meeting (AGM) of the Singhalese Sports Club (SSC) is scheduled to take place tomorrow, at 7:00 p.m., at the club premises.

SAITM-Sarvodaya provide assistance, donations to flood victims

The student body of South Asian Institute of Technology and Medicine (SAITM) joined hands with Sarvodaya Sri Lanka in flood relief efforts conducted by the NGO. 

Unilever trains Moratuwa University engineering undergraduates

Unilever Sri Lanka, the nation’s number one employer of choice, recently marked the completion of its inaugural LEaD (Learn, Explore, Develop) training programme at its head office. 

Union Bank’s ‘Back-to-School’ initiative supports over 700 flood-affected schoolchildren

Union Bank’s corporate social responsibility (CSR) committee together with the bank’s Southern and Sabaragamuwa regional offices and the sports club of the bank extended a relief programme recently, towards the schoolchildren affected by the severe weather conditions that struck the island recently.

Sri Lanka’s first ‘Mystery Room’, a boost to management strategists

Beyond Boundaries Global (Pvt.) Ltd, an experiential training company, is gearing up to create a first of its kind experience in Sri Lanka. The first-ever ‘Mystery Room’ game to be held at the iconic Flamingo Bar will challenge     eight to 20 ‘wannabe detectives’ to use the latest technology and features of the game to figure out clues and solve a mystery in a way that’s never been done before.

Brewing resilience amidst challenges: Update on SL’s tea export performance

Ceylon Tea has come a long way since the first tea field was planted in Sri Lanka in 1867. This week’s TIPS column looks at the export performance of this mature export product during 2016, during the first four months of 2017 and the outlook for the near term. 

Emirates advises customers to arrive early to airport during busy summer season

Emirates expects higher than usual passenger traffic on its flights this upcoming weekend, starting from yesterday as travellers journey out for their summer holidays and Eid breaks. 

Mascons donates roofing sheets to Kalutara Thebuwana School

Mascons (Pvt.) Ltd, producers of Elephant Masconite chrysotile roofing sheets, recently donated a stock of roofing sheets for the laboratory of Thebuwana Kanishta Vidyalaya in Kalutara. 

John Keells group provides immediate relief to flood victims

In response to the severe flooding brought on by monsoonal rains in southwestern parts of Sri Lanka, John Keells Foundation (JKF), the corporate social responsibility entity of the John Keells group, provided funding and coordination support. 

Bridging skill gap: A challenge in Sri Lanka’s quest for economic growth

According to the government’s economic policy statement issued in October 2016, Sri Lanka envisions achieving sustainable development by linking the country to global supply chains and increasing trade.

NDB launches ‘Savings Planner’

National Development Bank PLC (NDB), as a bank that strives to instil and inspire the nation to save, launched its latest product to the market – ‘NDB Savings Planner’. 

Sri Lanka shines at World Tea Expo

Sri Lanka’s celebrated Ceylon Tea roared at this year’s World Tea Expo, drawing attention to the official country of origin and showing by example its pedigree of social, economic and environmental responsibility.