Research house projects gloomy outlook for economy

An independent research house has projected a gloomy outlook for Sri Lanka this year with the economy just growing a mere 3.9 percent amid slowing consumer spending, a depreciating rupee and an expanding budget deficit, though private sector credit is likely to ease. 

HVA Foods likely to get green light to commence work on US $ 4mn agri resort project

After years of delay, HVA Foods PLC is likely to finally receive its legally entitled lease agreement for a 175-acre state land near Wilpattu to start a US $ 4 million organic agricultural resort, expanding a 20-year-old pilot project.

CB grants additional time to Amana Bank meeting capital requirements

The Central Bank for the second time has granted additional time to the licensed commercial bank, Amana Bank PLC, to meet the interim minimum core capital, required to have been met by January 1, 2017, according to a filing to the Colombo Stock Exchange.  

CTC announces closure of two leaf depots

Ceylon Tobacco Company PLC (CTC) yesterday announced that it would be closing two of its leaf depots situated in Anuradhapura and Sigiriya.

NTB partners with Softlogic Life for Nations Max Bonus

Nations Trust Bank PLC (NTB) recently partnered with Softlogic Life to offer an exclusive life insurance cover along with a critical illness cover to its Max Bonus savings account customers.

Where is the international arbitration centre?

The present government which is keen on receiving direct foreign investments for the country, took a very positive step in this connection by establishing an international Arbitration Centre, at the World Trade Centre. 

CCEA-approved Rs.600mn poultry project asked to relocate

The construction of a Rs.600 million, five-hectare poultry farm in Nellikulama in Anuradhapura approved by the Cabinet Committee on Economic Affairs (CCEA) has received opposition from the Forest Department. 

CIM Sri Lanka holds Talking Point Programme today

The Chartered Institute of Marketing (CIM) Sri Lanka will be hosting its first CIM Talking Point Programme for this year today (31st) at the Hilton Colombo Residences from 6.00 pm onwards.  It will bring together top business leaders

Indian print media defying the odds?

One of the most widely read business newspapers in India turned broadsheet on 12 September 2016, defying the trend in developed countries to go digital only, creating more space for editorial and advertising content. 

Should Sri Lanka adopt Payment Card Industry Data Security Standard?

During the past few years, several data breaches have made global headlines. You may remember the Target Stores data breach in 2013 that put the credit card numbers and personal information of millions of people into the hands of cybercriminals. According to the court documents, about 42 million people had their credit or debit information stolen. 

Global investor interest in Sri Lanka “going through the roof”: StanChart

Standard Chartered yesterday gave thumbs up for Sri Lanka’s economic outlook as the global investor interest in the country is “going through the roof” due to a combination of push and pull factors stemming from the island nation’s reform-oriented government to more adventurous investors, who seek higher yields.

Bangladesh’s top financial services provider selects IFS Applications

IFS, the global enterprise applications company, announced that LankaBangla Finance Limited (LBFL) has chosen to implement IFS Applications 9 to support mission-critical processes such as financials, procurement, inventory management, HR, and document management. 

Asiri Central Hospital shares success stories on neuro-interventional treatment

Asiri Central Hospital, part of Asiri Group of Hospitals, which comes under Softlogic Holdings PLC, shared its success stories in breakthrough treatment option, neuro-interventional treatment, at the hospital auditorium, recently.

Ceylon Institute of Builders launches website

The Ceylon Institute of Builders (CIOB), the premier professional body, which actively promotes green constructions in the country, launched its website www.greenbuild.lk at the Taj Samudra Hotel in Colombo recently. 

Oliver Impex launches Vijaya Cement

Oliver Impex (Private) Limited, recently launched the latest brand of cement to the highly lucrative and booming construction market in Sri Lanka. 

Bank of Ceylon opens Kekirawa green branch

Bank of Ceylon (BOC) recently converted its Kekirawa branch into a green branch, the third green branch with the first two being the Kilinochchi and Thissamaharama branches, which were opened in line with the bank’s 77th anniversary in 2016. 

IAA presents Brand Mantra 2017

In line with its commitment to build capability and talent in Sri Lanka across marketing and advertising tale, IAA unveils the much awaited Brand Mantra 2017.

Sri Lanka year in review 2016

Underpinned by solid growth and boosted by medium-term fiscal support, the Sri Lankan economy rode out a difficult year in 2016, though the government measures to curb spending and boost revenue may impact investment and expansion in the coming year. 

Global consultancy expects continued private equity interest in Sri Lanka through 2017

Stax, a global strategy consulting firm that advises leading private equity (PE) funds worldwide, noted that investment and merger and acquisition (M&A) activity in Sri Lanka has increased over the past two years. 

Top construction contractor insists govt. should give priority for local direct investments

RN Constructions (Pvt.) Ltd, a leading construction contractor in industrial developments in Sri Lanka stressing that the government should give priority to local direct investments, also expressed its displeasure over the local regulatory environment for local manufacturers.

Nawaloka Hospitals raises bar on neurology and neurosurgery services

Nawaloka Neuro Centre upholds the lofty ideal of reaching the best of Neuro healthcare in Sri Lanka, ably assisted by the latest technology, equipment and a team of neurologists, neurosurgeons and support medical staff. 

National Chamber calls for national trade policy

I am honoured to be elected as the 32nd President of this prestigious chamber, the National Chamber of Commerce of Sri Lanka, and I assure with confidence and pride that I will take forward the good work done by my predecessors to take the chamber to greater heights. 

Lead with humility; Leadership lessons from Pope Francis

The connection that exists between a leader and those being led is, like most relationships, seldom easy to understand or take out. The satisfaction that leaders derive from having an impact over others is not easy to unpack. Generally, there are two kinds of power. 

Fairway Holdings launches ‘Latitude by Fairway’

Fairway Holdings launched its latest apartment project, ‘Latitude by Fairway’ recently.

HNB appoints Sidath Wijeratne as CDO

In line with its strategic vision to be the most future ready bank in Sri Lanka, Hatton National Bank (HNB) has created a Digital Technology Division that will integrate the information technology and e-business verticals to drive a bank-wide digital adoption, focused on next generation engagement with customers, business partners and employees, through transformed products, redesigned processes and enhanced services.

Dreamron-Himalaya Cosmetics’ Lankan operations achieve highest growth in Asia Pacific region

Himalaya Herbal Cosmetics, the Indian cosmetic giant popular for Pharma personal care products, held its Asia Pacific regional conference in Singapore recently. 

Blue Cross Medical Centre comes on board with Doc990

Patrons of Blue Cross Medical Centre at Rajagiriya can now make medical appointments from the comfort of their home or on the go with Doc990. 

Mental health pioneer Manasuwa marks 42

The one and only private mental hospital Neptune (Manasuwa) celebrates its 42nd anniversary this year.  

Lanka Hospitals achieves success in blood cancer/ bone marrow transplant treatment

Lanka Hospitals’ Centre for Blood Disorders; a fully-equipped facility that specializes in treating blood related cancers including bone marrow transplant treatment has documented remarkable success in curing and managing patients with blood cancers.

Mas Holdings Commits To The Zdhc Roadmap For A Non-Toxic Future

MAS Holdings becomes the latest apparel and textile manufacturer to become a value chain affiliate of the Zero Discharge of Hazardous Chemicals (ZDHC) group,