Nation Lanka Finance raises Rs.250mn to support lending

Nation Lanka Finance PLC, a licensed finance company with an asset base of around Rs.8.0 billion has raised Rs. 250 million via a subordinated debenture issue by  way of a private placement with the objective of buttressing the company’s tier II capital, a stock exchange filing by the company said. 

Rupee ends weaker on importer dollar demand

REUTERS: The Sri Lankan rupee closed weaker yesterday due to dollar demand from importers, but the currency is expected to steady in the near term, dealers said. Rupee forwards were active, with two-week forwards ending at 153.15/25 per dollar, compared with Monday’s close of 152.95/153.10. “There is some importer demand and we see the currency stabilising at these levels,” said a currency dealer who requested anonymity.

Dialog seeks shareholder nod to relax eligibility criteria for ESOP

Leading    telecommunications services provider Dialog Axiata PLC has proposed to relax some of the criteria to make its high performing employees become eligible for the Employee Share Option (ESOP) scheme, which is a part of its Long Term Incentive Plan (LTIP).

Vidullanka’s overseas acquisition held up by delays in regulatory approvals

Renewable energy developer Vidullanka PLC is experiencing some headwinds in its attempt to acquire a Uganda-based renewable energy firm, which will delay the issuing of Vidullanka shares to fund  the acquisition.

SAGT strikes deal with workers to end 13-day operational disruption

South Asia Gateway Terminal (SAGT), a private container terminal operating at the Colombo port, has managed to strike a deal with its workers, ending a 13-day operational disruption at its berth, SAGT said in a statement, yesterday.  

GSP Plus hangs in balance as govt. treads slow on sensitive issues

The European Union (EU) is still concerned about the progress Sri Lanka has made in its human rights commitments with less than 4 weeks to go till the culmination of Sri Lanka’s Generalized 

The biggest CFW to date concludes with Celebrating Colombo

HSBC Colombo Fashion Week concluded its summer season as the biggest, under the theme ‘Celebrate Colombo’ in association with Sri Lanka Tourism. Hosted at Hilton Colombo, CFW, in its 

Unilever Continues to Win Accolades for Excellence in People Management

Unilever Sri Lanka was recognized for excellence HR practices at the SHIFT 2020 - Sri Lanka Human Capital Management (HCM) Awards 2016 held recently in Colombo. Home to some of the country’s 

Ellie Goulding Drives New Range Rover Velar In New York

The new Range Rover Velar made a spectacular US debut with an exclusive live online performance from Ellie Goulding. The chart-topping singer’s New York show precedes a charity auction of the hotly 

Serendib Flour Mills brings sustainability to the forefront of its operation

Serendib Flour Mills (SFML) recently embarked on a long-term sustainability drive to minimize the company’s impact on the planet, whilst improving the overall management of water and energy use at

Jaguar F-Pace Voted 2017 Best And Most Beautiful Car In The World

The Jaguar F-PACE is officially the best and most beautiful car in the world afterdouble success at the 2017 World Car Awards, scooping the prestigious World Car of Year and World Car Design of the 

mCash rewards key stakeholder groups at mCash Infinity Awards 2016

The National Mobile Service Provider Mobitel’s mobile money platform, mCash, held its eagerly anticipated mCash Infinity Awards 2016 for the second consecutive year in recognition of the 

4th Six-A-Side Soft Ball Cricket Tournament Of The Slfpa For The Sri Lanka Food Processors Associati

Founded in 1997 as an advocacy group, the Sri Lanka Food Processors Association currently consists of over 140 member companies.

Oman Air launches new daily flight between Muscat and Manchester

Oman Air will start its new daily flight between Muscat and Manchester from May 1, 2017; the latest move in the airline’s ambitious and dynamic programme of fleet and network expansion.

Rustic yet royal design elements define Sigiriya Jungles

Sigiriya Jungles revolutionized the luxury resort segment when it opened its doors for business. A breath of fresh air in terms of architecture and ethos, the deluxe Sri Lankan-styled resort offered a 

Hayleys to acquire Singer Sri Lanka for Rs.12.5bn

Diversified conglomerate Hayleys PLC, continuing with its buying spree, yesterday struck a mega deal to acquire a 71 percent stake in leading consumer durables retailer Singer (Sri Lanka) PLC (SSL) in a whopping Rs.12.5 billion deal.

Pulsar Power stuntmen shine at AFC Motor Bike Show

Sri Lanka's most outstanding motorcycle stunt team, Pulsar Power Stunt Team, showed their prowess by winning the AFC Motor Bike Show Stunt Challenge in Nuwara Eliya last weekend.

DFCC Bank offers the best rewards this Avurudu with the Avurudu Hat Trick Campaign

DFCC Bank recently launched the ‘Avurudu Hat Trick Campaign’ in time for the Sinhala/Tamil New Year and existing and new DFCC customers can visit any of its branches island-wide to enjoy the 

Oman Air Announces The Addition Of Roja Perfumes To Its Exclusive On Board Portfolio

Oman Air, the national airline for the Sultanate of Oman, will be adding to its exclusive portfolio of on-board products with a brand new collaboration with Roja Perfumes exclusively available to First and 

Ceylon T-Cup co- sponsored by Sri Lankan Airlines and Lanka Sportreizen – Day 2

The 2nd day of the Ceylon T-Cup race, saw over 30 riders reach Kandy. The riders departed from Mahiyanganaya to reach Kandy via Hasalaka, Udadumbara, Hunnasgiriya, Rambukwella, Orutota, 

Ceylon T-Cup co- sponsored by Sri Lankan Airlines and Lanka Sportreizen flags off in Pasikudah – Day

The 1st day of the Ceylon T-Cup race flagged off from Pasikudah on Friday 07th of April 2017. Over 30 riders, including international and local cyclists gathered at Pasikudah for the start of the 

ADB says further monetary tightening by CB cannot be ruled out

The Asian Development Bank (ADB) recently said it could not rule out further tightening of the monetary policy by the Central Bank of Sri Lanka during this year to fend off any adverse developments in the economy. 

Top poultry producer says Sri Lanka’s chicken meat consumption up in 2016

Despite all the noise about the current political stalemate, expected economic slowdown and crisis-stricken agricultural sector, Sri Lankans have increased their daily intake of proteins by way of eating more chicken meat, perhaps to produce more energy to face tougher times ahead. 

CSE banks on whistleblowers to curb market manipulation

Sri Lanka’s stock market, which has lost significant value during the last couple of years, is now on a mission to rebuild investor confidence by clamping down on market manipulation with the help of whistleblowers. 

Installation of container scanners in 2-3 months: FinMin

The installation of an advanced container scanning system, which has attracted controversy, would take place within the next two to three months, Sri Lanka’s finance minister said recently. “We will probably start in the next two to three months maximum,” Ravi Karunanayake said at the 12th Ease of Doing Business Forum, last week.

Sri Lanka protests cripple health services, dent investor sentiment

REUTERS:  An islandwide protest on Friday by Sri Lankan doctors demanding closure of a private medical college crippled the health services, leaving thousands of patients unattended and threatening the investment climate.

Oil rises further above US $ 55 on Libyan field shutdown, Syria

REUTERS: Oil rose further above US $ 55 a barrel yesterday, supported by another shutdown at Libya’s largest oilfield and heightened tension over Syria following the US missile strike.

Industrial activity edges up in February

Sri Lanka’s industrial activity picked up slightly this February compared to a year ago, amidst higher inflation, although production slowed down compared to January 2017, provisional data released by the Census and Statistics Department showed. 

Microsoft hosts second ‘Device Day’ in Sri Lanka featuring top experts

Microsoft recently held its second ‘Device Day’ at Cinnamon Grand Colombo. 

Brandix wins third Gold at National HCM Awards

Brandix won Gold and two special awards for Human Resource Management at the 2015-16 National Human Capital Management (HCM) Awards ceremony at the Cinnamon Grand hotel on  March 31, once again demonstrating the Group’s commitment to its people.