NDB Wealth launches Private Wealth Centre

NDB Wealth recently relocated its office to a spacious and purpose- built new facility to service its private wealth clients. 

ComBank launches ‘Digital Banking Week’ to promote digital services

The Commercial Bank has commenced a week-long push at nine key branches to promote the use of the bank’s digital banking platforms such as online banking, mobile banking, e-Passbook and automated banking. 

Fairfirst Insurance relaunches ‘Buhuman’ health insurance policy

The Government Pensions Department together with ColomboRe Insurance Brokers and Fairfirst Insurance relaunched ‘Buhuman’, a unique health insurance policy, on 10thMay. 

NDB signs Umaria as brand ambassador for new product

NDB recently signed an exclusive agreement with the famous singer Umaria Sinhawansa as Brand Ambassador for a new product. 

Sri Lanka’s housing loans on rise: Fitch

In what appears to be an interesting revelation, Sri Lankans are seen increasingly borrowing to meet their housing needs defying the rising borrowing costs, as they seem to perceive more value in the money spent on a long-term asset created today than a deferred spending.            

Leasing companies’ future profits under pressure due to bank borrowings, stringent regulations

Sri Lanka’s leasing companies are likely to experience a decline in profits in the future due to their greater reliance on bank borrowings and heavier regulations, a top official of a leading finance company in the country opined.  

ComBank in US $ 15mn swap deal with IFC to hedge interest rate risk

International Finance Corporation (IFC), a member of the World Bank Group, and Sri Lanka’s Commercial Bank of Ceylon PLC has entered into an interest rate swap arrangement for a notional amount of $15 million, IFC communiqué said. 

Budget deficit in 1Q widens 10%; revenue up 26%

Sri Lanka’s budget deficit for the first quarter of 2017 widened 10.49 percent year-on-year (YoY) to Rs.199.67 billion, on the back of high capital expenditure although the primary balance recorded a healthy decline due to an increase in tax collection.

Four firms transferred to Default Board over non-submission of financials

Four listed entities were transferred to the Default Board of the Colombo Stock Exchange yesterday for their inability to submit financial statements within the required timeframe.

Mayhem in Yala continues

Unrestrained safari jeeps continue to play mayhem in the Yala National Park with authorities failing to take any action against the errant drivers.

Hameedia continues its special offers this Ramadan

Hameedia is continuing to offer its valued customers an exciting range of offers and vouchers this Ramadan.You can get optimal value for all your purchaseswhen you shop at Hameedia this monthand 

Landrover and Jaguar Winat Car Design Awards

Land Rover has won the Best Brand Design Language prize at the Car Design Awards for its family of vehicles recently joined by the new Range Rover Velar. The Jaguar I-PACE Conceptelectric

The Outlet Store launched in Colombo

Joining the fastest growing retail fashion sector in Sri Lanka with an aim to bring the latest trends for an exclusive family shopping experience at affordable prices, The Outlet Store was recently launched 

ICC introduces modern walk-up apartments in partnership with NHDA

With the aim of contributing to the middle-income transition and uplifting their standards of housing requirement, Sri Lanka’s pioneering infrastructure and multi sector general contractor International 

Nestlé wins ‘Cannes Lions Young Marketer Sri Lanka 2017’

Nestlé’s Umeshinie Kurukulasuriya and Ashani Ratnayake have won the prestigious Cannes Lions Young Marketer Sri Lanka 2017. The duo competed against teams from leading companies to win the 

zMessenger expands to 7 ASEAN countries with a Japanese Ad Veteran

zMessenger, multiple-award winning full service digital marketing agency in Sri Lanka, has entered into a partnership with Japanese Veteran Advertising Agency Network- Chuo Senko to expand its

Allianz Lanka Lauds Star Performers at Allianz Awards 2017

Allianz Lanka celebrated the achievements of its team members at its annual sales convention, the Allianz Awards 2017, held at the Cinnamon Lakeside recently. Allan Smee, Head of Property

Asus launches Asus ROG Masters Sri Lanka 2017

Asus Sri Lanka announced the launch of Asus ROG Masters Sri Lanka 2017; a country qualifier tournament of one of the most celebrated and state-of-the-art eSports events in the world. 

Rubber planters see no silver lining on horizon

Sri Lanka’s rubber industry, which faced one of the toughest years, last year, due to lower global commodity prices, doesn’t appear to be recovering, with a few companies discontinuing their rubber production.

Rupee ends steady as remittances offset importer dollar demand

REUTERS: The Sri Lankan rupee ended steady yesterday as inward remittances offset dollar demand from importers, dealers said.

Odel to buy retail space at Colombo City Centre

Odel PLC, the lifestyle and fashion retailer of the Softlogic group, yesterday said it would mark its presence in Colombo City Centre, a mixed development project under construction by the Abans group in collaboration with Singapore’s SilverNeedle Hospitality, opposite the Beira Lake. 

Ceylon Chamber assists importers to buy goods at factory cost

A programme launched by the country’s premier business chamber, the Ceylon Chamber of Commerce (CCC), facilitating Lankan importers to buy goods at factory cost, has yielded modest results, the CCC said.  

Royal Ceramics mulls overseas production due to difficulties in acquiring raw materials locally

Business magnate Dhammika Perera’s tile monopoly, Royal Ceramics PLC (RCL), is considering investing in production facilities overseas due to the difficulties in sourcing raw materials locally.

Profit-booking pushes market down; foreign buying to date tops Rs.20bn

REUTERS: Sri Lankan shares yesterday ended at their lowest in near two weeks due to profit-booking in banking shares, but foreign inflows helped curb losses.

Why talk of bank capital ‘floors’ is raising the roof

Calculating how much capital banks should have is often a bone of contention between regulators and banks. While there has been considerable progress on reaching consensus on an international standard, one key issue remains unresolved. This is a proposal to establish a ‘floor’ or minimum, for the level of capital the largest banks must maintain.

As inflation eludes, US rate-hike bets lose shine

A surprisingly weak run of US inflation data has investors backing off bets the Federal Reserve will meet its three targeted interest rate hikes this year and has breathed fresh life into the bond market after a rough start to the year.

SIA and Aitken Spence Aviation offer assistance to victims of floods, landslides

Staff of Singapore Airlines and its GSA Aitken Spence Aviation Pvt Ltd, officially handed over several emergency relief items to the team from Aitken Spence Garments based in Koggala and Mathugama to be distributed among the victims of the recent floods and landslides.

Lamudi Lanka to host third Real Estate Expo this weekend

Leading property portal Lamudi Lanka (Pvt) Ltd., will host its third Real Estate Expo this weekend.  The event is set to provide direct access to the real estate world with a range of presenters and exhibitors showcasing Sri Lanka’s best property and home services to buyers, sellers and investors.  The third expo is scheduled to take place on the 17th and 18th of June at the Taj Samudra Hotel from 10am to 7pm on both days. 

Crown Paints enjoys successful reign at Construction Expo

Crown Paints reigned supreme at the recently concluded Construction Expo 2017 at the BMICH. The JAT Holdings stall which literally held centre stage at the exhibition was designed as Buckingham Palace symbolising the fact that it is the only paint in Sri Lanka which is a Royal Warrant Holder by explicit appointment to HM The Queen; a title which has withstood the passage of time over two centuries.    

Decorating your home with luxurious Fine Furniture

Fine Furniture Sri Lanka, a retail store, unveiled its newly expanded showroom space of 15000 square feet spread across three floors located at Nawala Road, Rajagiriya recently.