WB forecasts accelerated growth for Sri Lanka

Sri Lanka’s economic growth could pick up to 4.7 percent in 2017 and further up to 5.0 percent in 2018 on the back of a reform programme supported by the International Monetary Fund (IMF), but the downside risks stem from extreme weather conditions and external shocks, the World Bank (WB) said in its latest report. 

Damro acquires further 10% stake in Pussellawa for Rs.2bn

Browns Capital PLC (formerly known as FLC Holdings PLC) disposed its remaining 9.9 percent stake in FLMC Plantations (Pvt.) Ltd to Piyestra Furniture (Pvt.) Ltd, a unit of Damro Group, for a consideration of Rs.1.95 billion

UAE’s, Saudi carriers to suspend flights to Qatar

AFP: UAE and Saudi carriers said yesterday they are suspending flights to Qatar after their countries announced a cut in ties with Doha, in an unprecedented regional crisis.

Shares fall on profit-taking in banks

REUTERS: Sri Lankan shares fell in thin trade yesterday on profit-booking in banking stocks while investors assessed the impact of recent deadly floods on exchange rate and inflation.

Raigam Salterns Rs.536mn rights issue facing ‘technical issues’: official

Raigam Wayamba Salterns PLC (RWSL), a part of the Raigam group, is currently facing delays in its rights issue designed to finance the merger with Eastern Salt Company (Pvt) Ltd., that belongs to the parent, due to ”technical issues,” top company officials said.

The Finance Company cuts losses 76% in 4Q

The troubled financial institution, The Finance Company (TFC), managed to cut its losses for the quarter ended March 31, 2017 (4Q17) by 76 percent year-on-year (YoY) to Rs.295.13 million through changes in impairment, the interim financial accounts showed. 

Rupee steady; importer dollar demand offsets exporter sales

REUTERS: The Sri Lankan rupee ended steady yesterday as importer dollar demand offset greenback sales by exporters, while investors assessed the extent of damage to the economy from the recent floods and landslides, dealers said.

Janashakthi offers free breakdown assistance to vehicle owners affected by floods

Expressing its solidarity with all fellow Sri Lankans affected by the recent adverse weather conditions, Janashakthi General Insurance Limited announced that Janashakthi Full Option will be carrying out a free breakdown assistance service across areas affected by the floods.

Sirocco Air Technologies gears up for next phase of innovation

Sirocco Air Technologies, Sri Lanka’s most experienced ventilation solutions provider, is preparing for its next phase of growth by building strategic partnerships with its principals in Spain, Italy, Germany and Ukraine. 

Swift response needed for flood relief to minimize fallout

With Sri Lanka facing the worst-ever floods in 27 years, the Sri Lankan economy has begun to feel the pinch of climate change. The government immediately appealed for foreign assistance to recover from the floods that caused an estimated Rs.300 billion or approximately US $ 2 billion worth of damage. 

HR needs digital support to become effective – National HR Conference Chair

An interview with the Chairman of the IPM National HR Conference 2017 Organizing Committee and Secretary IPM Sri Lanka  – Ken Vijayakumar, who shares his thoughts on the importance of South Asia’s largest HR Conference and its role as a platform to disseminate and share insights and expert views on topics which are of deep significance to managing human resources 

Allianz Lanka lauds star performers

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

Nations Trust Bank fosters research and biodiversity education

Recognizing the important role biodiversity and ecosystem services play towards quality of life and wellbeing of the economy, Nations Trust Bank strengthened its collaboration with Wildlife and Nature Protection Society (WNPS) in fostering research and education on biodiversity, with its full sponsorship of the ‘Loris’ and ’Warana/Waranam’ magazines. 

Ceylinco Life policyholders tour Dubai

A spellbinding four-day visit to Dubai was the sensational reward won recently by a group of Ceylinco Life policyholder families in the second phase of the life insurance leader’s ‘Family Savari’ mega promotion.

Jinasena’s agricultural machinery becomes big hit in local market

Jinasena (Pvt) Limited, one of the leading water management systems and solutions providers in Sri Lanka, is making huge strides with their range of Agrimec branded agricultural machinery.

The Carbon Consulting Company announces new board members

The Carbon Consulting Company announced two new seats on their board of directors recently.  

LankaCorps Fellows explore, experience and give back to Sri Lanka

Each year, the Asia Foundation selects young leaders of Sri Lankan origin to experience, explore and enjoy the country of their heritage for a period of six months.  These millennials hailing from the USA, 

Emirates showcases environment-friendly aircraft cleaning technique

On the occasion of World Environment Day, Emirates is showcasing an environmentally-friendly aircraft cleaning technique that has enabled the airline to save millions of litres of water every year. 

BOC represents Sri Lanka at ‘Belt and Road’ bankers roundtable

The Bank of Ceylon’s (BOC) Chairman, Ronald C. Perera joined the ‘Belt and Road Initiatives- Bankers Roundtable’ discussion held recently in Beijing China, as the only Sri Lankan to participate at this summit. 

Flood-affected people need economic empowerment

Since recently, Sri Lanka has been affected by disasters, most of which are man-made, claiming hundreds of human lives and damaging infrastructure as well.

Hilton signs agreement to manage 7th Lankan property this year with KDU Group’s Rs.6bn hotel in Weer

Global hospitality giant Hilton yesterday signed a 20-year management agreement with KDU Group, a local family-owned tea manufacturer, to manage KDU’s first hotel property, worth Rs.6 billion, situated in Weerawila, Hambantota under the upscale ‘DoubleTree by Hilton’ brand.

ComBank marks World Environment Day with pledge of support to WNPS reforestation project

The Commercial Bank of Ceylon is to partner with the Wildlife and Nature Protection Society (WNPS) to support the latter’s Reforestation of a Rainforest (R.O.A.R.) project under a milestone agreement signed by the two parties on 5th June – World Environment Day.

Global growth set to strengthen to 2.7% as outlook brightens: WB

The World Bank forecasts that global economic growth will strengthen to 2.7 percent in 2017 as a pickup in manufacturing and trade, rising market confidence and stabilizing commodity prices allow growth to resume in commodity-exporting emerging market and developing economies.  

Shangri-La Hotel Colombo awards scholarships to hotel schools

The Hospitality Elevating Learning Path (H.E.L.P.) from Shangri-La Hotels and Resorts has endeavoured to identify and reward future leaders of the hospitality industry by providing invaluable scholarships to 50 students to leverage the hospitality careers in the destinations.

Citi and CCC embark on 2nd phase of rural economic empowerment programme

The ‘Rural Economic Empowerment Programme’ initiated by the Citibank in collaboration with the Ceylon Chamber of Commerce and Hatton National Bank in June 2015 has assisted over 400 rural entrepreneurs in four rural villages namely; Beralapanathara in Matara district, Dadayamkanda in Ratnapura district, Weheragala in Anuradhapura district and Udappuwa in Puttalam district. 

Elite Radio & Engineering at Construction Expo

Elite Radio & Engineering Co., (Pvt) Ltd. sole agent for KDK brand fans participated at Construction Expo 2017 held at BMICH on 2nd, 3rdand 4th of June  as Gold Sponsor of the event. Seen here is CEO, Suren Kundanmal explaining the concept of Indoor Air Quality (IAQ) and safety features of KDK ceiling fans to Professor Chitra Wedikkara, Chairperson of Construction Expo 2017.

SLT Becomes the First Telco to Successfully Field Test Pre-5G LTE Advanced Pro Technology in South A

Sri Lanka’s No.1 ICT solutions provider and the licensed national backbone network operator, Sri Lanka Telecom, together with Huawei Technologies, has successfully carried out South Asia’s first 

Janashakthi Offers Free Breakdown Assistance to All Vehicle Owners Affected by Floods

Expressing its solidarity with all fellow Sri Lankans affected by the recent adverse weather conditions, Janashakthi General Insurance Limited announced that Janashakthi Full Option will be 

New leaf for Sri Lankan Cinema Experience –Scope Cinema

Scope Cinemas is currently at the forefront of cinema technology with its screens and sound systems at the Liberty being the most advanced in the island at present. Dedicated toward raising the 

Bank of Ceylon staff donates aid to flood victims

The staff of the Bank of Ceylon raised voluntary donations to aid victims of the national disaster that has occurred due to torrential rain and massive landslides.