Achieving a sustainable future through commercial forestry

Although Sri Lanka is very rich in natural resources including a significant amount of natural forests, their utilisation should have been restricted for the sake of conservation so that the generations to come in future can utilise them in a sustainable manner.

Shopper sentiment improves on back of retail growth in Sri Lanka

Greater consumer confidence could bring about higher returns from Sri Lanka’s retail sector, though the possibility of a further tightening of monetary policy by the country’s central bank might offset any near-term gains. 

Forget ratings; see the bigger picture on corruption

Transparency International’s 2016 Corruption Perception Index (CPI) generated the usual chatter. Countries that performed well congratulated themselves; countries further down the list decried the results as unscientific and biased.

Ceylinco Insurance records strong growth in 4Q , FY16

Ceylinco Insurance PLC, which runs Sri Lanka’s market leading life insurance business based on gross written premiums (GWPs), recorded earnings of Rs.87.19 a share or Rs.2.3 billion for the December quarter (4Q16), up 38 percent year-on-year (YoY), the interim financial accounts showed. The GWPs of both life and non life for the quarter rose 9 percent YoY to Rs.8.3 billion while the insurance group paid claims and benefits amounting to Rs.3

HNB inaugurates fully-fledged customer centre at Asiri Surgical

Delivering an unprecedented new level of banking convenience to patients, visitors, and employees, Sri Lanka’s largest private sector bank, HNB PLC in partnership with the Softlogic Group’s healthcare arm, Asiri Health, opened its newest fully-fledged customer service center at Asiri Surgical Hospital.   Offering a comprehensive list of banking products and services, the new branch will be open from 9 am to 3 pm on weekdays, and

NITF procures reinsurance cover for agriculture insurance

State-owned National Insurance Trust Fund has concluded the procurement of a reinsurance programme for its agricultural insurance schemes. 

‘Dine and Smile’ promo back with more options for ComBank cardholders

If good dining brings smiles to the diners, Commercial Bank’s credit and debit card holders will be smiling a lot over the next two months as they enjoy the Bank’s latest ‘Dine & Smile’ promotion.  Sixty four popular restaurants including 40 located within 21 leading hotels will offer discounts of 30 percent on ComBank credit cards and 20 percent on ComBank debit cards till 10th April 2017, the bank announced.

Unbeatable discounts with NDB ‘Good Life’ credit cards

NDB Good Life credit cards has now become better than ever, with amazing discounts on leading supermarkets, branded clothing and much more. 

CLSA shuts US equity research arm

REUTERS: The equities research division of the Americas unit of Hong Kong-based brokerage CLSA has been shut down, a spokeswoman said on Monday, clarifying an earlier report that the entire Americas section would be closed.

Lack of protests against vehicle financing restrictions baffles economist

The lack of protests and lawsuits against recently implemented loan-to-value (LTV) ratio for vehicle financing is surprising, since the policy is likely to cause major macroeconomic distortions, according to the head of Colombo-based research house and an equity brokerage. 

Consumer prices up 6.8% in February

REUTERS: Sri Lanka’s consumer prices rose 6.8 percent in February from a year earlier, accelerating from the previous month’s 5.5 percent increase under a revised base-year and market basket, data from the Department of Census and Statistics showed yesterday. 

Vidullanka in private placement deal to purchase Ugandan hydro power plant

Vidullanka PLC (VLL), a mini hydro operator said it was carrying out a private placement of shares to partly settle the purchase of a mini hydro project in Uganda, subject to Colombo Stock Exchange and shareholder approval. 

Rupee rises on exporter, bank dollar sales

REUTERS: The Sri Lankan rupee yesterday ended firmer for a third straight session on exporter and bank dollar sales, but the gains were capped by concerns about possible depreciation in the absence of Central Bank guidance, dealers said.

Govt. role imperative for capital market development: stakeholders

In a bid to turn around its fortunes, Sri Lanka’s capital market stakeholders want the government to play a bigger role in the market by way of listing state assets on the bourse and reactivating the state-run private sector pension fund, Employees’ Provident Fund (EPF).

Sail Lanka Charter supports the 2017 Dr. Nihal Jinasena Memorial Cup Sailing Regatta

The 2017 edition of the Dr. Nihal Jinasena Memorial Cup sailing regatta took place on 18th February. Supported by Sail Lanka Charter and sponsored and organised by Ruhunu Sailing Association (RCA) 

Nations Trust Bank rewards 50 lucky American Express Card members with latest iPhone 7

Strengthening its fundamental ethos of rewarding customer loyalty, Nations Trust Bank rewarded 50 American Express Card members with Apple’s latest flagship device at the AbansiStore recently. 

Oman Air boosts fleet with New Boeing 787-9 Dreamliner

Oman Air, the national carrier of the Sultanate of Oman, continues its ambitious expansion plans in 2017 with three new additions to the fleet already this year. 

SLT partnered SEA-ME-WE 5 Consortium Completes Matchless Subsea Cable System

Sri Lanka Telecom PLC (SLT) and the SEA-ME-WE 5 Consortium proudly announce the completion of the 20,000- kilometre subsea cable infrastructure developed by a 16-nation consortium. 

DSI felicitates the National Visually Handicapped Cricket team

Following the excellent achievement at the World T20 Championship for the Visually Handicapped recently concluded in India, DSI held a felicitation lunch for the team as a gesture of appreciation. 

Paramount Introduces Colombo’s Newest Corporate Venue Spaces

Finding the right venue is no doubt a tedious business. Pricing can be opaque and the associated logistics involved are often challenging. As a result, individuals and corporates have limited options 

Mobitel Cash Bonanza Montero Extravaganza “Season 2” selects first winner for 2017

The National Mobile Service Provider, Mobitel has extended its Cash Bonanza Montero Extravaganza programme for the year 2017 to award another 12 lucky winners with luxury Monteros

Sri Lankan Airlines welcomes the sophisticated Airbus A320neo to its fleet

Sri Lankan Airlines has commenced the induction of the first of its latest Airbus aircraft. The A320neo arriving today, February 27th will be the first of the A320neo and A321ne

Mystery gazette on G-Secs unravelled

The recently surfaced mystery gazette notification with regard to government securities (G-Secs) is part of an obsolete law, which the Central Bank has been attempting to comply with, and the law would be amended as soon as possible, the country’s economic managers said yesterday.

Rupee ends firmer on late exporter dollar sales

REUTERS: The Sri Lankan rupee ended firmer yesterday aided by late exporter dollar sales, but concerns over possible further depreciation in the absence of Central Bank guidance weighed on the sentiment, dealers said.

C. W. Mackie and Denmark’s Co-Ro in JV to produce Sunquick in Sri Lanka

Diversified manufacturing and trading company and Lankem Ceylon PLC subsidiary, C. W. Mackie (CWM), last week entered into a Rs.1.1 billion joint venture (JV) with Denmark-based soft drink giant, Co-Ro A/S, to produce its popular ‘Sunquick’ brand in Sri Lanka.

Shares hit 2-1/2-week closing low; block deals boost turnover

REUTERS: Sri Lankan shares fell yesterday to hit their lowest close in more than two weeks as investors were worried over rising interest rates, but foreign buying and block deals in Expolanka Holdings boosted the turnover.

SriLankan welcomes first A320neo aircraft

National carrier SriLankan Airlines yesterday received its first A320neo Airbus aircraft, which the airline expects to utilize to gain more traction in the Asian and Middle Eastern markets under the airline’s new strategic focus in becoming a major regional player.  

Directive on senior citizen deposit limit extension sent to banks

A directive from the Central Bank regarding the extension of the deposit limit for the senior citizen deposit programme with effect from March 1 has already been sent to the banks, both Finance Minister Ravi Karunanayake and Central Bank Governor Dr. Indrajit Coomaraswamy confirmed.

Automobile players form apex body to uplift industry

With the core objective of working concertedly towards greater good and progress of the automobile repair business, a new organization called ‘The Sri Lanka Automobile Service Providers Association’ (SLASPA) was inaugurated by entrepreneurs representing this vital industry on an  island-wide basis. 

Maybank Indonesia adopts BoardPAC’s paperless board solution

A leading bank in Indonesia has deployed the Sri Lanka-developed ‘BoardPAC’ board-meeting automation solution to become the first bank in that country to be equipped for paperless board meetings.