Prime Lands to acquire Summit Finance for Rs.510mn

Property and real estate developer Prime Lands (Pvt) Ltd is to acquire 17 million shares or 75.54 percent of Summit Finance PLC held by Sarvodaya Development Finance Limited at a price of Rs.30 per share aggregating to a total consideration of Rs.510 million.

Climate change – A factor fuelling future migration waves

Imagine that you are a farmer. Your crops are withering as the weather patterns become more volatile, your well water is too salty to drink and rice is too expensive to buy at the market. So, you leave home in search of a better life.

People’s Leasing opens 100th branch in Hanwella

The leading non-bank finance company in Sri Lanka, People’s Leasing & Finance PLC (PLC), opened its 100th branch in the Hanwella town (No: 132/3, Colombo Road, Hanwella) recently. 

Indonesia penalises JPMorgan for ‘underweight’ call: officials

REUTERS: Indonesia will drop JPMorgan Chase & Co from providing some services to the government after the bank’s research arm said investors should reduce their exposure to the country, senior finance ministry officials said yesterday.

Kanrich Finance transforms Kegalle branch to serve customers better

With a prestigious history of 45 years and trusted excellence backed by loyal customers who have been the source of strength, Kanrich Finance Limited with the intention of delivering an advanced and highly effective service to its trusted clientele launched its branch in Kegalle recently. 

Seylan Bank commences work for 2017

Seylan Bank commenced work for the year 2017 after religious ceremonies held at the Seylan Bank head office. Seylan Bank PLC Chairman Ravi Dias, Director/Chief Executive Officer Kapila Ariyaratne, Director Rear Admiral Ananda Peiris with the senior management and other officials also participated in the religious ceremonies.  

HSBC takes cardholders one step closer to a world of possibilities

A new year – a new beginning. Dream big and reach higher this year. Live up to all those resolutions you’ve made over the years. Apply for your HSBC credit card and get one step closer to a world of benefits and privileges. Your HSBC credit card opens doors to a world of possibilities that spans end to end of your lifestyle – from daily essentials to luxurious indulgences, from simple pleasures to ambitious grand plans. There&rs

Sri Lanka Insurance inaugurates business activities for 2017

The inauguration of business activities at Sri Lanka Insurance (SLI) took place on January 2 amidst a distinguished gathering comprising Public Enterprise Development Minister Kabir Hashim, Public Enterprise Development Deputy Minister Eran Wickremaratne and Joint Managing Directors T.M.R. Bangsa Jayah and Aruna Siriwardena. 

Central Bank says Sri Lanka’s prosperity level improved in 2015

The prosperity, measured by the Sri Lanka Prosperity Index (SLPI), which is a composite indicator that measures and compares the level of prosperity of the country and across its provinces, has improved to 0.864 in 2015 from 0.804 in the previous year. 

Over 30 parties keen to refurbish Sapugaskanda refinery: minister

As the report on refurbishing Sapugaskanda Oil Refinery is expected to be submitted this month, Petroleum Resources Development Minister Chandima Weerakkody said yesterday that, nearly 30 parties have already shown an interest to conduct a field study on it.

NLB sells lottery tickets

Since the lottery ticket vendors went on strike in protest of the price increase of lotteries by the government, The National Lotteries Board yesterday resorted to sell the lottery tickets itself. A picture shows a vehicle belonging to NLB selling lottery tickets   Pic by KIthsiri de Mel

PM to open new Kadana water treatment plant built with Japanese support

Prime Minister Ranil Wickremesinghe will ceremonially open the water treatment plant in Kadana, Horana constructed under the Kalu Ganga Water Supply Project Phase I Stage II on January 5, 2017, in the presence of Koji Yagi, on behalf of the Ambassador of Japan in Sri Lanka. 

Lanka Social Ventures organises int’l conference on social enterprises and financing

In order to create awareness on social enterprises and social financing and reflect on their potential to contribute to sustainable development and poverty reduction, an international conference is organised by Lanka Social Ventures in partnership with Oxfam, National Enterprise Development Authority (NEDA), British Council, Good Market and VEGA BIZ+, Lanka Impact Investors Network (LIIN) and Social Enterprise Lanka. 

Sri Lanka–Pakistan Business Council supports Pakistani Single Country Exhibition

The Sri Lanka–Pakistan Business Council of the Ceylon Chamber of Commerce will be partnering with the High Commission of Pakistan in Sri Lanka, Trade Development Authority of Pakistan (TDAP) and Sri Lanka Export Development Board to organise the Business Matchmaking Session at the Single Country Exhibition of Pakistan from January 13 to 15, 2017, at the BMICH, Colombo.

JITF 2017 to set up special pavilion for education sector

The Jaffna International Trade Fair (JITF 2017), the largest consumer exhibition and trade fair in the fast-growing northern region of Sri Lanka, will have an exclusive pavilion for the education sector due to the high demand for the area, specially from parents and students.

CTC to lay off 20% of factory staff due to sales drop

Ceylon Tobacco Company PLC (CTC) yesterday said it is letting go 20 percent of its factory staff on the back of sharp decline in its sales volumes.

Kanrich Finance,Kegalle Branch transformed to serve customers better

With a prestigious history of 45 years and trusted excellence, backed by loyal customers who have been the source of strength, Kanrich Finance Limited with the intention

Fortinet offers security tips for staying safe in online shopping

Fortinet, the global leader in high-performance cyber security solutions issued an alert to all online shoppers in Sri Lanka to stay vigilant when performing online shopping, as a dizzying array of must-have connected devices from smart accessories and appliances, to game consoles and online games, to web-enabled toys hit the virtual stores. 

People’s Bank Unveils State-of-the-art CDM/ATM/Kiosk at Head-Office to enhance customer convenience

Accelerating its digitalization drive, People's Bank proudly launched its Self Banking Center with CDM/ATM/Kiosks in seven locations  in Colombo district,

DFCC Bank Celebrates the Spirit Of The Season

DFCC Bank, in its efforts to celebrate the spirit of season has been very active in the month of December, adding to the festive ambience in Colombo. 

Apple partner Wistron seeks to expand India smartphone parts plant: govt official

REUTERS - Smartphone component maker Wistron Corp, which counts Apple Inc among its customers, has applied for permission to expand its plant in the Indian city of Bengaluru, a high-ranking regional government official said yesterday.

Swiss watch sector set for smartwatch boom - LVMH executive

REUTERS: Switzerland’s luxury watch sector can profit from a smartwatch boom as more consumers seek high-end versions of the technology, an industry veteran was quoted as saying.

Budget deficit in first 10 months down at 4.4%

Sri Lanka’s budget deficit up to October was contained at Rs.547.53 billion or 4.41 percent of gross domestic product (GDP) with higher revenue holding back higher expenditure to improve the situation from Rs.612.24 billion or 5.47 percent of GDP year-on-year (YoY), the Treasury data showed.

Top distiller says government efficiently tackling illegal alcohol operations

The Sri Lankan government has been tackling illegal alcohol operations more efficiently recently, which has created more business for formal hard liquor manufacturing companies, the industry’s market leader said recently.

Lamurep Investments makes voluntary offer on Sunshine Holdings

Lamurep Investments Ltd, an investment vehicle which now holds 43.4 million shares or 32.12 percent of Sunshine Holdings PLC, yesterday announced a voluntary offer to buy the remaining shares of the company at Rs.47.50 per share.

Rupee ends thin session weaker, seen under pressure

REUTERS: The Sri Lankan rupee closed weaker in its first session of the year yesterday as a lack of inflows weighed on sentiment, dealers said.

Finance Ministry says implementing 325 budget proposals in 365 days

Sri Lanka’s Finance Ministry Secretary Dr. R.H.S. Samaratunga yesterday said 2017 would be a year of many challenges and the 365 days of the year should be managed properly to implement more than 325 budget proposals in 2017.

Melstacorp-backed Lanka Bell plans resurgence

Telecom operator Lanka Bell, which has been whammed with taxation, is hoping to get back on its feet through efficiencies and cost cutting, its parent Melstacorp PLC (MELS) said recently.

Persons with difficulties in Sri Lankan labour market

Chitra is a language teacher at the high school near her home. She is well loved by her students. But, her class room is different – it is brightly lit, all the time. Chitra is only able to see in bright light. Despite this seeing difficulty (see definition of a person with a difficulty in Box) she has studied well and obtained a degree. 

Flemingo Duty Free offers 20% discount for ComBank credit card holders

Commercial Bank’s credit cardholders are now eligible to enjoysubstantial savings onpurchases made at Flemingo Duty Free at the Bandaranaike International Airport (BIA).