NTB relocates Aluthgama branch

Nations Trust Bank (NTB) has moved the Aluthgama branch to a new, spacious and convenient location at No. 411, Galle Road, Aluthgama. 

Governor says next year’s debt challenge bigger than this year’s

The Central Bank Governor, Dr. Indrajith Coomaraswamy said the domestic debt repayment challenge in 2018 would be much worse than that of this year’s and going forward Sri Lanka would have sovereign debt maturities every year starting from 2019 leaving very little headroom for further borrowings. 

Watawala to start commercial dairy operations later this year

Watawala Plantations PLC (WATA), a subsidiary of Sunshine Holdings PLC, will begin commercial dairy operations during the latter half of the 2018 financial year, a top official said.

Qatar debt rating downgraded by S&P as riyal hits 11-year low

Standard & Poor’s downgraded Qatar’s debt on Wednesday as the riyal currency fell to an 11-year low amid signs that portfolio investment funds were flowing out of the country because of Doha’s diplomatic rift with other Arab states.

Bangladesh export fears as EU slaps on security checks

AFP:  European Union security screening of Bangladesh exports could damage the country’s multi-billion dollar textile industry, garment manufacturers alleged yesterday.

Softlogic March in red; top line growth remains modest

Softlogic Holdings PLC, the diversified retailer turned a net loss of Rs.234.5 million for its January-March quarter (4Q17), compared to a net profit of Rs.146.2 million year-on-year (YoY) due to heavy finance costs, increase in overheads and modest growth in top line, the interim results released by the company showed. 

Fitch forecasts lower reserves than official estimates by end-2017

Credit rating agency, Fitch, is expecting Sri Lanka’s foreign reserves to fall in the short-term to be well below the targets of theCentral Bank and the Finance Ministry, raising concerns over the country’s ability to meet the reserves target set by the International Monetary Fund (IMF) loan programme.

Richard Pieris 4Q profit soars on retail business and better cost management

Diversified conglomerate, Richard Pieris and Company PLC, increased its January – March quarter (4Q17) earnings by as much as 152 percent to Rs.890.1 million or 44 cents from a year ago, well supported by its major business segments led by retail, but the plantations business encountered challenges, the interim financial accounts showed.

Marking Poson Poya day

A Buddhist devotee is seen offering prayers at Kelaniya Temple during the Poson Festival in the Colombo suburb of Kelaniya yesterday. Sri Lanka celebrates Poson, the anniversary of the introduction of Buddhism to the island, this year. 

StartupX Foundry: Powering Lankan startups into the global arena

It is essentially a tech startup catalyst, an initiative to hone technological ventures with potential and take them from inspiration to exit, powered by a dynamic ecosystem of both local and international talent

Ravago Lanka opens new Kelaniya branch office, warehouse

A global giant in the polymer industry, Ravago further expanded its already strong presence in Sri Lanka through its subsidiary Ravago Lanka with the introduction of a branch office and a warehouse in Kelaniya. 

Get in shape for your special day with Skechers GoRun 400

As your wedding looms closer and closer every day, it becomes easy to lose sight of your own personal needs amidst the hectic wedding preparations.

Nestlé continues to enhance livelihood of over 20,000 rural farmers

Milk farmers in the North-Central village of Seeppukulama will benefit from a milk chilling centre upgraded by Nestlé, offering them increased opportunities to sell their milk to the company. 

National Chamber hosts UAE envoy at ‘Meet the Ambassador’ programme

United Arab Emirates (UAE) Ambassador to Sri Lanka Abdul Hamid Al Mulla was the special guest speaker at the ‘Meet the Ambassador’ programme held at the National Chamber recently.

Siddhalepa Group receives Asia Responsible Entrepreneurship Award

Siddhalepa Group of Companies received yet another international award for its long commitment to Sustainability and Corporate Social Responsibility. 

Mesh Mart receives ISO 9001 certification

Fence wires and related products manufacturer, Mesh Mart (Pvt) Ltd has received ISO 9001 quality assurance. 

Hameedia reopens newly revamped Crescat showroom

Marking another milestone in its style studded history Hameedia has revamped its showroom at Crescat Boulevard to mirror its eminence as the ‘most preferred and trusted men’s wear specialist in Sri Lanka’. 

CMA to conduct seminar on 2016 Central Bank annual report

The Institute of Certified Management Accountants of Sri Lanka (CMA) will conduct a CPD seminar on ‘Highlights of the Central Bank of Sri Lanka Annual Report 2016’ on Wednesday, June 14, 2017, from 5:00 p.m.-7:30 p.m., at the CMA headquarters, 3rd Floor Auditorium, Visakha Private Road, Colombo 4.

Dharmatilake receives WPO Lifetime Achievement Award for packaging

The World Packaging Organisation (WPO) recently created its Lifetime Achievement in Packaging Award. 

Hotel Show Colombo 2017 gears up for 4mn 2020 tourist target

Hotel Show Colombo 2017 – in keeping with the government’s goal of competing and achieving success in inbound tourism by 2020, presents an opportune showcase for the industry specialists to converge, source, develop business and broaden contacts.

UAE seeking ‘change of policy, not regime’ in Qatar

AFP: Measures taken by the United Arab Emirates (UAE) and other nations against Qatar aim to pressure Doha into drastic policy changes, a senior UAE official told AFP yesterday.

Tea Board expects decline in tea output due to floods

The Sri Lanka Tea Board (SLTB) yesterday said it is expecting a decline in tea production in the coming months due to the recent floods that affected the tea growing districts of the country. 

Shares at 1-week closing low; foreign inflows cap losses

REUTERS: Sri Lankan shares ended down for a fourth consecutive session yesterday, and hit their lowest close in more than a week, due to profit-booking in large-cap shares such as Ceylon Tobacco Company PLC, but foreign inflows helped curb losses.

Tourist arrivals fall 2.5% in May

Tourist arrivals to Sri Lanka fell 2.5 percent year-on-year (YoY) to 121,981, with resumption of high growth of Chinese arrivals remaining the key positive highlight, putting immense pressure on the government, which hasn’t conducted a proper promotional campaign for years. 

Rupee edges up on late inward remittances

REUTERS: The Sri Lankan rupee recovered from early falls and closed slightly firmer yesterday as late inward remittances surpassed mild dollar demand from importers, dealers said.

Sri Lanka-Thailand reach consensus on FTA

Sri Lanka and Thailand have come to a consensus on a free trade agreement (FTA) to trade goods as the first step towards a comprehensive FTA that will follow in the future, Sri Lanka’s Industry and Commerce Ministry in a statement said. 

TFO joins hands with BEES to initiate tree planting campaign in Galle

 Earth became the beauty because of the interaction between living things and their surroundings.  The two have molded together to create a balance of what we would call today as nature. The only problem is that this natural balance keeps being disrupted by us humans. Time and again we see everywhere the statement that we humans are destroying the environment. 

Insee Cement connects people to nature to mark Environment Day

Insee Cement joined hands with the Base for Enthusiasts of Environmental Science and Zoology (BEEZ) of the University of Colombo and Biodiversity Sri Lanka, a network of private sector companies working together on biodiversity conservation issues, to commemorate World Environment Day with impact in a very meaningful way. 

Oceans and Sri Lanka’s future: towards a blue economy

All nations around the globe are celebrating World Oceans Day today – 08 June – under the theme of ‘Our Oceans, Our Future’. While the action focus of this year’s Ocean Day is the prevention ocean pollution due to the use of plastic, through events organized in several countries. It is more opportune in the Sri Lankan context to take a broad look at the overall theme in the light of growing interest on ‘blue ec

Hayleys Puritas provides 33,600 litres of clean drinking water to flood affected areas

In a bid to support on-going relief efforts in the wake of devastating flooding across large areas in the South Western provinces of Sri Lanka, the Hayleys Group through its environmental engineering services provider, Hayleys Puritas, announced the installation of seven water filtration systems to meet the urgent need for clean drinking water in displaced and affected communities in the Rathnapura and Galle districts.