People’s Bank celebrates International Women’s Day

A special ceremony was organised recently by People’s Bank to commemorate International Women’s Day. 

Senaratne Insurance Brokers reaches pinnacle of professional excellence

Senaratne Insurance Brokers (Pvt.) Ltd has recently been awarded the prestigious Corporate Chartered Insurance Brokers designation by the Chartered Insurance Institute in the UK, the first to be so recognized. 

Union Assurance introduces Union Pension Advantage

As Sri Lanka’s largest private insurer, Union Assurance is constantly at the forefront of industry innovations and has succeeded in benchmarking customer service and satisfaction for the insurance sector in the country. In another leap forward, the insurance giant has introduced Union Pension Advantage, a new addition to the company’s wide-reaching portfolio of products. 

NDB Wealth offers ‘money market accounts’ for higher returns

“For those interested in taking control of their own finance, with an aim to create sustainable wealth, there is no better place to start than ‘money market accounts’. Investing in these allow for the safety and liquidity of traditional bank savings but, often, with higher rates of return,” according to Christina Wesley, a Financial Advisor at NDB Wealth.

Oman Air Welcomes a New Boeing B737-800 to Its Fleet

Oman Air, the national carrier of the Sultanate of Oman, is delighted to announce that a new Boeing B737-800 aircraft has joined its fleet as of 15 March 2017. This new aircraft will be used on short

FlySmiLes winner receives return air ticket to Maldives

The winner of the ‘FlySmiLes - Dialog Axiata Register & Win Promotion’, Dayananda Kukulewithana, received a prize of a return air ticket to the fabulous Maldives on SriLankan Airlines.

Oman Air promotes ongoing 2017 expansion at ITB Berlin; celebrates Media Awards

Oman Air, the national carrier of the Sultanate of Oman, successfully participated at ITB Berlin from March 8 TO 12, 2017. In addition to celebrating its dynamic programme of fleet and route expansion, the airline also celebrated its fourth consecutive Media Awards for German media.

Etihad Airways to launch A380 flights to Paris

Etihad Airways is introducing its award-winning A380 on the Abu Dhabi – Paris route this summer as part of seasonal adjustments to the airline’s fleet deployment plan.

Qatar Airways unveils QSuite ‘First in Business Class’ experience

Qatar Airways hosted a packed press conference to unveil its highly anticipated and revolutionary new Business Class experience to the world’s media and travel trade leaders. 

Top lawyers urge need to fight for digital consumer rights collectively

Sri Lankan consumers must fight collectively for the enactment of digital consumer rights protection laws in Sri Lanka to keep privacy violating corporates at bay, leading attorneys in the country advocated this week during a forum in Colombo.

Fed to keep rate hikes slow even if U.S. inflation overshoots

REUTERS: The Federal Reserve will stick to a gradual path of interest rate rises even if inflation runs above its 2 percent target, Chair Janet Yellen said on Wednesday, signaling that the U.S. central bank is willing to use low rates to push down even harder on unemployment.

Rupee ends weaker; cbank moral suasion caps fall

REUTERS: The Sri Lankan rupee ended weaker yesterday on dollar demand from importers, but moral suasion by the Central Bank capped the fall after expectations of a nearly US$1 billion inflow from a bond sale failed to ease pressure on the currency, dealers said.

Laugfs mulls expanding presence to Myanmar, Maldives

Sri Lanka’s only private sector liquid petroleum gas (LPG) supplier, Laugfs Holdings PLC, is currently planning to expand its operations to Myanmar and the Maldives, while its US$ 100 million expansion plan in Bangladesh is also progressing the group’s Chairman said recently.

Drought will block Sri Lanka from 2017 growth pace officials see: economists

REUTERS: Sri Lanka’s 2017 growth rate is likely to be significantly lower than the government and Central Bank forecast, mainly due to a severe drought and tight monetary and fiscal policies, private economists said.

Shares hit 1-yr closing low on rate hike concerns

REUTERS: Sri Lankan shares hit a one-year closing low yesterday, falling for an eighth straight session, as concerns the Central Bank would raise rates next week weighed on sentiment after the International Monetary Fund urged it to tighten monetary policy.

SLID and Iclif to present ‘To preserve or enhance?’ interactive discussion

On a one to 10 scale, where one is ‘well below our potential’ and 10 is ‘at peak potential’, how is your organisation currently performing in the marketplace?

Govt. says number of loss making SOEs reduced

Most of Sri Lanka’s state-owned enterprises (SOEs) have stopped bleeding under the ‘good governance’ regime, after it took over two years ago, Sri Lanka’s Finance Minister Ravi Karunanayake said this week.

Malik meets EU Trade Commissioner in Brussels

Development Strategies and International Trade Minister Malik Samarawickrama accompanied by Ambassador Rodney Perera met with European Commissioner for Trade Cecilia Malmström recently at the European Commission in Brussels. 

Hameedia supports ‘Battle of the Maroons’

Hameedia, Sri Lanka’s leading menswear specialist continues its sponsorship as the Official Clothing Partner for the legendary Battle of the Maroons clash for the second consecutive year. Hameedia 

Jaguar I-Pace Concept To Make European Motorshow Debut At Geneva

Jaguar’s electric performance SUV concept will showcase one of the production car’s First Edition colours – Photon Red – when it appears at the Geneva Motor Show on 7 March.

The Body Shop Hosts Expert Skincare and Makeup Session at Flagship Store

The Body Shop in Colombo partnered with HSBC to share expert skincare and makeup advice with customers at its flagship store. A selected group of HSBC Advance clients were invited to a special 

Leo Burnett Sri Lanka conducts the 11th edition of its annual review

Leo Burnett Sri Lanka, the local office of the global advertising network Leo Burnett World wide recently conducted its annual review for the 11th consecutive year to celebrate the agency’s 

Clinician-led new management introduces patient-centered care at Oasis Hospital Colombo

News of a transfer of the management of Oasis Hospital by a newly-formed conglomerate of leading doctors, academics and entrepreneurs to provide a state of the art patient-friendly hospital

FinMin says delay unlikely in IMF third tranche

The third tranche of the International Monetary Fund’s (IMF) US $ 1.5 billion Extended Fund Facility (EFF) would not be delayed in mid-2017 despite Sri Lanka’s inability to meet the foreign reserve targets set by the programme, the country’s Finance Minister Ravi Karunanayake told reporters in Colombo, yesterday. 

Rupee ends weaker; bond sale may ease downward drift

REUTERS: The Sri Lankan rupee ended weaker yesterday due to importer dollar demand, dealers said, but the market expected pressure on the currency to ease after the government raised nearly US $ 1 billion via a bond auction.

Manufacturing sector activity expands in February

Sri Lanka’s manufacturing activity expanded in February as the manufacturing sector PMI rose 0.9 index points compared to the previous month’s record of an index value of 57.1, the latest data released by the Central Bank showed. 

Economy grows at 5.3% in 4Q; 4.4% in 2016

Sri Lanka’s gross domestic product (GDP) grew at 5.3 percent in the fourth quarter of 2016 (4Q16) compared to the same period of the previous year and the economic growth rate for the year 2016 was estimated at 4.4 percent, the country’s statistics office said.

Lankan capital market to woo Aussie, Kiwi investors

The Colombo Stock Exchange (CSE), in association with the Securities and Exchange Commission of Sri Lanka (SEC), Sri Lankan High Commission in Australia and with the participation of stockbroker firms and unit trust companies, will host a series of ‘Invest Sri Lanka’ forums in Australia and New Zealand (ANZ).  

Report highlights huge hole in Sri Lanka’s trading basket

Almost all the dollars earned by over a million housemaids auctioning their sweat and blood in the Middle East and the dollars spent by around two million tourists annually visiting the country are just getting evaporated as import-dependent Sri Lanka has made a huge hole in its trading basket.   

New Colombo Residency offers affordable luxury at the heart of Colombo

It is often difficult to find accommodations that provide you with both the comforts and luxuries you want and fit into your budget. This is true specially in Colombo, where the choices are many but would fall short on either the pricing or the accessibility or even in terms of the facilities that are offered to the guests.