Sanasa completes private placement with IFC; raises Rs.510mn in equity

Sanasa Development Bank PLC (SDB) last week raised equity capital to the tune of Rs.510.65 million from the International Finance Corporation (IFC), the private sector investment arm of the World Bank, a disclosure filed with the Colombo Stock Exchange said. 

SL January tea output falls 15.3%

REUTERS: Sri Lanka’s tea output fell 15.3 percent in January due to adverse weather, poor application of fertilisers and a government ban on pesticides, the state-run Tea Board said yesterday.  “Mainly it is the weather; in addition to that, other factors like (poor application of) fertiliser and (government ban on) weedicide also impacted,” said Sri Lanka Tea Board Director General S.A. Siriwardena. 

Sovereign funds pulled US $ 38bn from global markets in 2016

REUTERS: Sovereign wealth funds pulled US $ 37.8 billion from global stock and bond markets in 2016, data from research firm eVestment showed, although the fourth quarter flows showed a slowdown in the rate of redemptions.

Central Bank launches data library for public

The Central Bank of Sri Lanka (CBSL) yesterday launched a data library for the public via the CBSL external website.

Ceylinco Life appoints Upamalika Ratnayake as new CDO

Life insurance leader Ceylinco Life has announced the appointment of Upamalika Ratnayake as the company’s Chief Digital Officer (CDO) with immediate effect, to lead digital innovation in processes and product delivery.

Asia Pacific Brewery changes name to Heineken Lanka

Asia Pacific Brewery (Lanka) Ltd changed its corporate identity to Heineken Lanka Limited with effect from February 13, 2017. 

DFCC’s ‘Know & Grow’ interactive digital campaign creates customer engagement

DFCC Bank launched the ‘Know & Grow’ digital campaign to coincide with Independence Day, which was conceptualised by the bank to educate the public on the Sri Lankan flag and its elements.

Seminar on adding socio-economic rights to Lankan constitution today

The implications incorporating socio-economic rights to Sri Lanka’s proposed constitution will be the focus of a seminar by Dr. Pratap Bhanu Mehta, a political scientist with extensive international and South Asian experience.

Pizza Hut tantalises island with another range of delectable pizzas

Pizza Hut Sri Lanka, the well-loved international fast food chain that’s given Sri Lanka a whole range of delicious treats throughout the years, tantalises the island with another range of delectable pizzas! Introducing Thin Crust Pizzas! A gourmet range of pizzas, made with premium wheat flour. 

Western Hospital diversifies into maternity and childcare services

Western Hospital (Pvt) Ltd, the pioneering leader in kidney transplantation and dialysis in Sri Lanka has diversified in to maternity and childcare services. 

Opportunities and challenges of expanding telework

The new International Labour Organization (ILO)-Eurofound report shows that the use of modern communication technologies facilitates a better overall work-life balance but, at the same time, also blurs the boundaries between work and personal life. Following is the Executive Summary of the report. 

Kuwait Airways offers flatbed facility on all ex-Colombo flights

Kuwait Airways, the national carrier of the State of Kuwait, offers the flatbed facility on its flight from Colombo with the introduction of the new A330-200 service from Colombo. 

Women’s labour force participation: key social and cultural constraints

February 20th marked the anniversary of the World Day of Social Justice. 

Sri Lanka ready to host biggest national healthcare exhibition for 8th year

The 8th edition of Sri Lanka’s only healthcare exhibition, Medicare 2017, is organized by the Medicare Organizing committee comprised with the specialist medical associations in collaboration with the Ministry of Health, Nutrition and Indigenous Medicine. 

Entries now open for CNCI’s ‘Achiever Awards 2017’

Entries are now open for the ‘Achiever Awards 2017’ for Industrial Excellence competition, which is to take place on August 17, 2017, organised by the Ceylon National Chamber of Industries (CNCI), the premier industry chamber in the country.

Marina educates consumers at CHEMEX 4 exhibition

Marina Foods (Pvt) Ltd, the biggest manufacturer of coconut oil in Sri Lanka, outlined its processes of producing safe and hygienic coconut oil, using state-of-the-art technology in compliance with internationally accepted quality standards to the participants, including school children, at the CHEMEX 4 exhibition and trade fair. 

Big banks avoid hiring spree despite trading boom

REUTERS: Market trading is booming at U.S. and European banks thanks to Donald Trump and Brexit, and yet the glory days of dealing rooms the size of football pitches remain as distant as ever. Scarred by the 2007-09 global financial crisis and a subsequent regulatory clampdown, cost-

Transfer outstanding credit card balances to Sampath Credit Card for 0% interest

Credit cards have now become a global phenomenon, with many opting to use a credit card instead of cash due to the absolute convenience and benefits it offers. 

BMICH celebrates successes of years 2015, 2016

The Chairperson of the Bandaranaike National Memorial Foundation, former President Chandrika Bandaranaike Kumarathunga addressed the foundation staff for the 2nd time since assuming duties as Chairperson in February 2015.

Govt. to direct market SriLankan to global airlines

Sri Lanka will not be going for a second round of bidding to seek a partner for the state-run SriLankan Airlines, as priority will be given to market the airline directly to global airlines, State Enterprise Development Deputy Minister Eran Wickramaratne said.

Suwa Sandhi Ayurvedic Centre commences residential treatment

Suwa Sandhi Ayervedic Centre, known for permanent cure for Arthritis with traditional secret formulas of Ayurvedic chemotherapy ( Rasa Vedakam) , announced the availability accommodation facilities for in patient  treatments. 

Emirates SkyCargo paints freighter with rose for Valentine’s Day

Emirates SkyCargo, the freight division of Emirates airline, unveiled a unique decal featuring a rose on one of its Boeing 777-F freighter aircraft ahead of Valentine’s Day. 

Abans introduces LG dual cool air conditioners to reduce electricity bills

Rising temperatures and increasing costs on electricity bills have invoked consumers across Sri Lanka to avidly search for air conditioners that provide greater energy-efficiency and more powerful cooling in their homes. 

Sail Lanka Charter hosts VIPs on board Sapphire luxury yacht

Sail Lanka Charter recently hosted two exclusive events on board its luxury yacht, the Sapphire. The gatherings took place, whilst the yacht was docked at the Dikowita port and both the functions were attended by VIP guests from the public and private sectors. 

CCC releases note on how govt. can help biz adjust to trade liberalisation

The Ceylon Chamber of Commerce (CCC) has released a document containing recommendations on helping Sri Lanka’s industries prepare for trade liberalization. 

Pan Asia Bank’s solar loan scheme- ideal way to get zero cost electricity

Pan Asia Bank’s solar loan scheme provides financing to customers to purchase solar energy systems, enabling them to generate their own electricity and be free from electricity bills and contribute to reduce global warming.

Spice Island partners with Dabur India

Spice Island recently announced its partnership with Dabur India Ltd, India’s largest Ayurvedic medicine and related products manufacturer. 

Qatar Airways-AccorHotels partner to reward loyalty programme members

Qatar Airways and leading global hotel group, AccorHotels, have partnered to provide industry-leading reciprocal benefits to the members across both loyalty programmes, providing even more opportunity to earn and redeem Privilege Club Qmiles and Le Club AccorHotels points.

Nashar named Saudi Arabia’s first female commercial bank CEO

REUTERS: Rania Nashar was named chief executive of Samba Financial Group on Monday, becoming the first female CEO of a listed Saudi commercial bank in line with the government’s economic and social reforms.

Love Digits dating compatibility app launched in Sri Lanka

Love Digits, an app that brings both dating and gaming services to users, was launched in Sri Lanka this month.