Homegrown ride-sourcing firm PickMe mulls going public

Digital Mobility Solutions (Pvt.) Ltd, which owns PickMe, Sri Lanka’s homegrown ride-sourcing app, is likely to go for an initial public offering (IPO) after a final round of private equity funding, signalling the entrance of the new generation tech start-ups to the Colombo Stock Exchange (CSE).

Dhammika ups holding in Softlogic Finance

Business magnate Dhammika Perera has increased his shareholding in the Softlogic group subsidiary, Softlogic Finance PLC, the latest financial statements of the company for the period ended December 31, 2016 indicated.

Royal Ceramics 3Q profit up 9% over modest growth in sales

Leading floor tile and bathware manufacturer, Royal Ceramics Lanka PLC (RCL), made an earning of Rs.8.85 cents a share or Rs.980.3 million for the quarter ended December 31, 2016 (3Q17), recording a modest increase of 8.5 percent from a year ago, the interim results showed.  

Pan Asia Bank gets CB extension to beef up capital buffers

The Central Bank this week approved Pan Asia Banking Corporation PLC’s (PABC) request to further extend the deadline for meeting the interim capital adequacy requirements for the banking sector. Accordingly, PABC has to meet Rs.7.5 billion in minimum capital by March 31, 2017 and reach Rs.10 billion in minimum capital by January 1, 2018.

Sri Lanka’s first insurance comparison website launched

InsureMe Insurance Brokers (Pvt.) Limited has launched Sri Lanka’s first insurance comparison website www.insureme.lk.  

Funding costs hamper People’s Leasing December profits

People’s Leasing and Finance PLC (PLC), the finance arm of state-owned People’s Bank, saw its performance being affected by higher cost of funds during its December quarter (3Q17) as the earnings narrowed by 16.9 percent year-on-year (YoY) to 67 cents a share or Rs.1.0 billion, the interim accounts showed. 

Dipped Products 3Q turns Rs.107mn net profit; plantations weigh

Dipped Products PLC (DPL), the non-medical glove manufacturing unit of the Hayleys group, made a net profit of Rs.1.78 a share or Rs.106.7 million for the quarter ended December 31, 2016 (3Q17) amid a strong top line growth, while keeping the costs under watch, the interim results filed with the stock exchange showed. 

Omegaa enters into MoU with Western Provincial Council Health Ministry

Omegaa Johkasou Engineering Lanka (Pvt.) Ltd, known for its life-enhancing products, entered into a cooperative agreement (MoU) with the Western Provincial Council Health Ministry recently. 

HNB partners PickMe for cashless rides

Sri Lanka’s Hatton National Bank PLC is now partnering with local ride sourcing app PickMe to provide PickMe customers with the ability to pay for their  rides cashless.

Sri Lanka should immediately establish a marine science research station on Kachchativu

Last month there were reports in the press that a group of Indian citizens was planning to raise their national flag on the island of Kachchativu to coincide with India’s Republic Day celebrated on January 26. That threat failed to materialize.

Retailers’ Association and FinMin discuss shopping festival

Sri Lanka Retailers’ Association held a meeting with the Minister of Finance Ravi Karunanayake recently to discuss the proposed ‘Sri Lanka Shopping Festival.’

An impasse in SAARC – Analysis

The South Asian Regional Cooperation (SAARC) seems to have reached its nadir.

Crysbro conducts Sisu Diriya for 5th consecutive year

The Crysbro Group recently conducted its employee welfare programme Sisu Diriya CSR for the 5th consecutive year recently. 

Goodbye roaming: EU clears final hurdle for end of roaming charges

REUTERS: The European Union clinched a preliminary deal early yesterday to cap wholesale charges telecom operators pay each other when their customers use their mobile phones abroad, paving the way for the abolition of roaming fees in June.

NDB promotes environment literacy in rural schools with BECT

National Development Bank (NDB) Plc has taken the initiative to promote environment literacy through progarmmes in Rural schools in partnership with the Biodiversity & Elephant Conservation Trust (BECT) for the third consecutive year.

Japan Expo Premier to begin in Colombo tomorrow

Japan Expo Premier Sri Lanka 2017 will be held at the BMICH in Colombo from the 03rd to 05th this month, Chairperson of the Japan Expo Sri Lanka Exhibition Committee Mikiyo Furusawa said recently.

Perfect Business Solutions clinches two FCCISL awards

Perfect Business Solution Services (Pvt.) Ltd (PBSS) won two awards – Western Province Medium Gold and National Medium Silver – at the recently concluded awards ceremony organised by the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) held at Stein Studio Ratmalana. 

Cuba ready to support Sri Lankan industries

Cuba, one of their main trade partners of Sri Lanka has expressed its interest to explore Sri Lanka’s coconut cultivation, hinting the possible visit of a delegation from Cuban Ministry of Agriculture to Sri Lanka.

Fashion Bug continues CSR initiative with Sri Lanka Railways

In a continuous drive to contribute to public betterment, Fashion Bug, one of Sri Lanka’s leading retail clothing chains with over 16 outlets island-wide together

USAID supports CSR Sri Lanka to strengthen stakeholder partnerships

United States Agency for International Development (USAID) recently came forward to support CSR Sri Lanka’s Stakeholder Collaboration for Sustainable Development (SCoSD) project to bring in strong collaboration among private sector companies, the public sector, civil society, the academia and a wide range of local and international stakeholders. 

New Indian envoy meets Malik

The newly appointed Indian High Commissioner to Sri Lanka Taranjit Singh Sandhu met Minister of Development Strategies and International Trade Malik Samarawickrama and held bi-lateral discussions at the ministry this week. 

Aitken Spence Printing walks away with NBEA Gold

The export arm of Aitken Spence Printing and Packaging – ACE Exports was awarded at National Business Excellence Awards (NBEA) 2016 in recognition of its overall business excellence and contribution made towards economic progression of the country. 

CIMA Mastercourse on taxation begins on February 12

CIMA Sri Lanka’s first CPD event of the year, the CIMA Mastercourse on Taxation will begin on 12 February and continue until 23 April.  

Protest against H’tota port sale

Sri Lankan police stand guard during a protest against the proposed sale of a stake in a loss-making port to a Chinese company in Colombo yesterday. 

Samsung confident of maintaining 60% market share in Sri Lanka: MD

Reiterating its position as the world’s number one smartphone, Samsung is confident of maintaining its 60 percent market share in Sri Lanka, said Youngmin Shin, Managing Director of Samsung Sri Lanka. 

How digital services enable biz processes

Digital services play a vital role in synchronizing digital customer and business process.  Operating in a modern business today, by and large, has become a software affair, with the socially connected mobile consumer segment, and therefore enterprises explore ways to service the customer based on their personal preferences and personas.

Can-Sur-Vive gives hope to breast cancer patients and survivors

A hall full of tangible energy, hope and positive attitude, exuded the length and breadth of Lanka Hospitals 10th floor auditorium when women of all sizes and walks of life spent a day;

Red Hat and SLASSCOM introduce open source innovation to Lankan market

Open source technologies has been recognized as an enabler for a variety of problems , providing accessible technologies to a number of services as well as for mass collaboration in sharing knowledge with others to create new resources and opportunities.

Ceylon Chamber releases ‘Economic Review and Outlook 2017’ report

The Ceylon Chamber of Commerce launched its ‘Economic Review and Outlook 2017,’ a new report, which contains information on trends, risks and prospects of both Sri Lankan and the global economy.  

Colombo Chamber facilitates local businesses to attend int’l gem and jewellery shows

The Colombo Chamber of Commerce (CCC), in its pursuit of assisting and providing support to the small and medium enterprises (SMEs) of Sri Lanka, has once again facilitated an exciting opportunity for local businesses to gain international exposure through the chamber’s networks.