Finnish govt. keen to invest in Sri Lanka

The Ambassador of Finland to Sri Lanka Rauli Suikkanen said that he would call leading entrepreneurs of his country to invest in Sri Lanka. 

Govt. in talks to alleviate impact of US taxes on OTR tyres

The Sri Lanka’s Commerce Department is currently fighting what it calls an erroneous imposition of countervailing duties on Sri Lankan made pneumatic off-the-road (OTR) tyre exports to the US, with the aim of reducing or removing the duties, Mirror Business learns.

Renuka Agri Foods December net up to Rs.76mn

Renuka Agri Foods PLC, a Renuka group company, which has interests in food manufacturing and plantations, posted a Rs. 75.67 million net profit for the quarter ended December 31, 2016, up from Rs. 65.19 million year-on-year (YoY), financial statements released to the Colombo bourse indicated. Earnings per share increased to Rs. 0.13 from Rs. 0.12 YoY.

Rupee slips on bank dlr buying, cbank reference rate revision

REUTERS: The Sri Lankan rupee ended slightly weaker yesterday due to dollar demand from banks as foreign investors continued to sell government securities, while the Central Bank revised the spot reference rate to a record low of 150.75, dealers said.

Ceylinco General Insurance posts strong numbers for 2016

Leading insurer, Ceylinco General Insurance Ltd, has announced excellent results for the year ended December 31, 2016, with premium income growing by Rs.2.5 billion or 18.9 percent year-on-year (YoY) to Rs.16.1 billion.

Credit to private sector reaches all time high in 2016

Credit extended to Sri Lanka’s private sector by the country’s financial system throughout 2016 reached an all-time high of Rs.755.5 billion, surpassing the previous highest of Rs.692 billion in 2015, Central Bank data showed. 

AIA-DFCC enter into strategic bancassurance partnership

AIA Insurance Lanka PLC has entered into an exclusive, long-term, strategic bancassurance partnership with DFCC Bank PLC, marking another key milestone in the AIA-DFCC relationship. 

Seylan Bank launches Viber sticker pack with Seylfie product

With Viber users in Sri Lanka reaching over six million and Viber being the most downloaded app in Sri Lanka, Seylan Bank decided to launch a sticker pack to promote its new youth banking product – Seylan Seylfie – to reach the youth of Sri Lanka using Viber.

Dr. Kelegama to deliver 27th J.E. Jayasuriya Memorial Lecture

The 27th J.E. Jayasuriya Memorial Lecture, to take place on Monday, February 13, 2017, will be delivered by Institute of Policy Studies of Sri Lanka Executive Director Dr. Saman Kelegama on the topic ‘Non-State Actors in Higher Education in Sri Lanka: Issues and Challenges’. 

Launch of Inward Bound – for Mindfulness as an Executive Capability

Deepal Sooriyaarachchi’s latest book Inward Bound explores how the currently ‘military-sounding’ business environment saturated with ideas such as ‘war room’, ‘penetrate’,

Siyapatha Finance relocated branch in Negombo

Sampath Bank’s largest fully owned subsidiary , Siyapatha Finance ceremonially relocated their Negombo branch ; located at No. 187 Thaladuwa Road , Negombo

Blue Ocean Group recreates history by unveiling the newest luxury condominium inaugurated at Layards

Sri Lanka’s largest condominium developer – Blue Ocean Group of Companies on Thursday (February 2) unveiled its twenty first and newest flagship project – Blue Ocean at Layards Road, Colombo 04 heralding in a new era to Sri Lanka’s vibrant construction industry. 

Call to protect independence of AG

Good governance activist and retired private sector executive, Chandra Jayaratne has written to the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) to come forward to protect the independence of the country’s Auditor General (AG), who is a member of the institute. 

Japanese consortium to invest US $ 15mn in solar power plant

A US $ 15 million project for the establishment of a solar power plant in Sri Lanka is underway with investments from three Japanese companies through a Japanese consortium.  

Access group profits up 15% in December as construction activities resume

The leading infrastructure developer, Access Engineering PLC (AEL), performed better during its December quarter due to the rebound in construction activities, but the steeper rise in tax expenses took the glow out of otherwise excellent results, the interim accounts filed with the Colombo Stock Exchange showed.  

Rupee slips on dollar buying by banks ahead of rate call

REUTERS: The Sri Lankan rupee closed slightly weaker yesterday due to dollar demand from importers and banks as foreign investors continued to sell government securities, dealers said.

Oil stuck near US $ 57 as Iran, OPEC countered by US drilling rebound

REUTERS: Oil steadied close to US $ 57 barrel yesterday as the rising tensions between the US and Iran and OPEC supply cuts were countered by ample inventories and signs that higher prices will revive US output.

CCC and CBB host UK biz delegation

The Ceylon Chamber of Commerce(CCC) together with the Council for Business with Britain organized a business forum with a visiting business delegation, which was led by the British Sri Lankan Association (BRISLA), United Kingdom.

People’s Bank gifts Isuru Udana certificates to babies born during Independence Week

On the popular theme ‘Birth of Freedom’, People’s Bank has taken steps to grant Isuru Udana gift certificates to babies born during the Independence Week.

Royal Institute Colombo wins CFA Sri Lanka Research Challenge 2017

CFA Sri Lanka announced that Royal Institute of Colombo won the local competition of the CFA Institute Research Challenge 2017 and would advance to the Asia Pacific Regional round where they will compete against leading universities from the region. 

BOC wins SAFA Best Presented Annual Report Award in Dhaka

Bank of Ceylon’s (BOC) annual report 2015 won the Best Presented Annual Report Award in the Public Sector Banking Institutions category,

ADB celebrates 50 years in Sri Lanka

Asian Development Bank (ADB) South Asia Regional Department Director General Hun Kim shows Finance Minister Ravi Karunanayake an exhibit at the ADB@50 photo exhibition held yesterday

Central Bank may surprise with a rate hike: poll

REUTERS: Sri Lanka’s Central Bank could raise its key policy rates in coming months if it skips a chance to tighten next week, a Reuters poll showed, underlining renewed pressure on the rupee after the Federal Reserve’s rate hike last month. 

Digital divide a key challenge for local banking industry: Arjun

This is the eighth of the interview series titled ‘Mirror Business S&P SL20 Insights’ conducted in collaboration with the Colombo Stock Exchange (CSE) as an investor relations initiative. The column encourages S&P SL20 companies to bring attention to developments in the industry, the company and discuss growth prospects.

Fortinet spells out tips for safer Internet Day 2017

It is vital to note that the day is named ‘safer‘ and not ‘safe’ Internet Day because no technology as powerful as the Internet will ever be entirely safe in this present state of digital affairs. 

Call to protect independence of Auditor General

An Appeal to safeguard the independence, integrity and professional position of Auditor General I write this appeal to you, this day our nation celebrates its 69th Anniversary of Independence,

Chinese envoy to deliver 13th Sujata Jayawardena Memorial Oration

The Ambassador of the People’s Republic of China Yi Xianliang is scheduled to deliver the 13th Sujata Jayawardena Memorial Oration on the topic “One Belt, One Road - Sri Lanka - China Relations.” on 15th February at the BMICH. 

ICTA implements next-gen citizen service delivery technology infrastructure for Foreign Ministry

The Information and Communication Technology Agency (ICTA) took another step towards creating a digitally-empowered nation by implementing an electronic Document Attesting System (eDAS) at the Ministry of Foreign Affairs (MFA) on February 06th. 

PABC’s Saviya microfinance loan scheme supports rural livelihoods

Sri Lanka’s fastest growing commercial bank, Pan Asia Banking Corporation PLC’s (PABC) Saviya microfinance loan scheme is designed to assist development of livelihood for prospective entrepreneurs who remain largely overlooked by the mainstream conventional banking. 

Government must keep tab of public opinion

It has now become a national pastime for howls and protests on our streets on a daily basis.