A shifting U.S. policy mix: Global rewards and risks

After a year marked by financial turbulence, political surprises, and unsteady growth in many parts of the world, the Fed’s decision this month to raise interest rates for just the second time in a decade is a healthy symptom that the recovery of the world’s largest economy is on track.

China’s economic policy choices narrow

As we wake to the beginning of a new year, the word that most aptly describes the world we face this year is uncertainty.

German Embassy sponsors motivational speaker Janis McDavid

Janis McDavid was born in 1991 in Hamburg, Germany and grew up with four siblings in Bochum, Germany. 

All school children to benefit from Rs.200,000 health cover: FinMin

Finance Minister Ravi Karunanayake assuring sustained economic development in the New Year said he was delighted to announce the introduction of a bonanza for all school children from 2017.

DFCC Bank celebrates spirit of 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. 

Talawakelle tea estate wins Gold at Annual Report Awards

Hayleys PLC owned, Talawakelle Tea Estates PLC (TTE PLC) was honoured with a Gold Award under the plantation companies category for the third successive year by the Institute of Chartered Accountants of Sri Lanka at the 52nd Annual Report Awards ceremony held on 6th December 2016 at the Waters Edge. 

Industry and Commerce Ministry positions for president’s 2030 initiative

Sri Lanka’s Industry and Commerce Ministry yesterday threw its full weight behind the latest national initiative on poverty and sustainable resources.

AVIC Astoria unveils first tower to public

AVIC International Hotels Lanka Limited, a subsidiary of the Aviation Industry Corporation of China (AVIC) and a Global 500 company recently launched AVIC Astoria’s Tower 1 to the public at an event which took place amidst a ceremonial gathering on 21st December. 

Milinda meets top Japanese officials

Pathfinder Foundation Founder Milinda Moragoda visited Japan recently. The photo shows him with senior Japanese emissary, Ambassador Yasushi Akashi and Foreign Affairs Ministry International Cooperation Bureau Director General Takio Yamada. Akashi and Yamada accompanied Shinzo Abe, the first Japanese Prime Minister who visited Sri Lanka in 24 years, in 2014.

Hypromac Engineering wins International Quality Crown

Business Initiative Directions (BID) recently recognised Hypromac Engineering Services of Sri Lanka for commitment to quality, leadership, technology and innovation in the pursuit of excellence. 

CICT surpasses 2 mn TEU milestone in second full year of operation

Colombo International Container Terminals (CICT) has reported a throughput of 2 million TEUs for the 12 months ending 31st December 2016,

GSK’s two-drug HIV therapy shines in two big studies

REUTERS: GlaxoSmithKline’s already fast-growing HIV drug business has received an important boost after two major clinical studies successfully tested a new two-drug treatment regimen to control the virus that causes AIDS.

Supun Weerasinghe takes over as Dialog’s Group CEO

In a filing to the Colombo Stock Exchange last Friday, Sri Lanka’s premier connectivity provider, Dialog Axiata PLC, announced the succession of Supun Weerasinghe, as its Group Chief Executive, taking over from Dr. Hans Wijayasuriya who led the Company since 1997.  The transition of leadership takes place with effect from 1st January 2017. Weerasinghe will also join the board of directors of the Dialog Group in the capacity of an execu

Private credit in October soars

Despite the slight slowdown seen in private sector credit granted by the banking system in the country in October on a year-on-year (YoY) basis, the month marked the highest credit granted in absolute terms after March this year, bringing the total private sector credit granted during the first 10 months to a historically high, an analysis by Mirror Business showed. 

Ship agents urge authorities to expedite East Container Terminal

An influential shipping industry body recently said delays in the construction and operations of the East Container Terminal (ECT) of the Colombo Port may result in investors and container volumes shifting to regional ports.

December inflation accelerates to 4.1% as food prices spike

Sri Lanka’s headline inflation in capital Colombo accelerated to 4.1 percent during the 12 months to December from 3.4 percent due to faster rise in food and beverage (F&B) prices and moderate increases in non-food prices, the data released by the country’s Statistics department showed.  The inflation measured by the Colombo Consumer Price Index (CCPI) rose by 1.9 index points or 0.99 percent to 192. 8 during December from a

Melstacorp bets big on tourism, energy and financial services for future growth

Melstacorp PLC, (MELS) the latest entrant to the Colombo Stock Exchange, and the new parent of the blue chip Distilleries Company of Sri Lanka PLC (DCSL), is planning to focus on the three core areas of niche tourism,

Work on Rs.11bn tyre manufacturing plant to commence this week

The foundation laying of Rigid Tyre Corporation (Pvt.) Ltd., which is tipped to become Sri Lanka’s largest fully integrated tyre manufacturing facility with an investment of Rs.11.25 billion, is set to take place this Thursday (January 5), a company statement said.

Bank of Ceylon divests Mireka Capital Land

The sale of state-owned investments continued last week, with Overseas Realty Ceylon PLC (ORCL) acquiring the remaining shares of its subsidiary Mireka Capital Land (Pvt) limited from state-run Bank of Ceylon for Rs.3.88 billion.

Activate your mental radar screen, watch blips and take right decisions

In the past few weeks we identified the three major phases of renewal – rethink, reinvent and reposition. The first of these is concerned with identifying those parts of your company that are good candidates for renewal. This instalment describes rethink in more detail and provides tools to help you see the strategic gaps between you and your target customers.

NTB introduces Nations Max Bonus account with 60% bonus interest on savings

Nations Trust Bank (NTB) yesterday unveiled the Nations Max Bonus savings account.  With Nations Max Bonus, you will be able to enjoy the best yields for savings accounts and relax with the knowledge that your savings are safe with one of Sri Lanka’s most trusted banks, whilst generating a handsome return.

State Bank of India cuts lending rate by 90 bps across maturities

REUTERS: State Bank of India, the country’s biggest lender by assets, said yesterday it had cut its lending rates by 90 basis points for maturities ranging from overnight to three-year tenures, after experiencing a surge in deposits.

Deutsche Bank agrees to US $ 7.2bn mortgage settlement with US

REUTERS:  Deutsche Bank has agreed to a US $ 7.2 billion settlement with the US Department of Justice over its sale and pooling of toxic mortgage securities in the run-up to the 2008 financial crisis. The agreement in principle, announced by Deutsche Bank’s Frankfurt headquarters early Friday morning, offers some relief to the German lender, whose stock was hit hard in September after it acknowledged the Justice Department had been see

Asiri Surgical to enter into JV with CTSI to provide high-tech oncology services

Softlogic Group subsidiary Asiri Surgical Hospital PLC will be entering into a joint venture with an Indian subsidiary of an American cancer treatment group, Cancer Treatment Services International (CTSI), in order to provide state-of-the-art oncology services for the Sri Lankan market.

Durdans leads in stroke care and prevention

According to the latest WHO data published, stroke is the second leading cause of death among Sri Lankans and the leading cause of adult disability in Sri Lanka. 

Lanka Hospitals pioneers platform for medical knowledge sharing

For the first time in the private healthcare industry in Sri Lanka, Lanka Hospitals hosted ‘Clinical sessions 2016’, a forum created for medical professionals to share and upgrade knowledge, develop a learning culture and maintain continuous education among the medical fraternity in the country. 

Pannipitiya Private Hospital wins OHSAS quality certification

Pannipitiya Private Hospital, one of Sri Lanka’s highly famed and top rated hospitals has received the international OHSAS 18001:2007 quality certification.

ComBank opens Deiyandara and Morawaka branches

Commercial Bank of Ceylon has strengthened its presence in the deep south of Sri Lanka with the opening of two branches in Deiyandara and Morawaka.

Lux excels with ‘Suwadaka Siwu Abarana’

Unilever’s iconic beauty brand Lux, catapulted them into the New Year with yet another innovative promotion guaranteed to ignite the Lux spark in the hearts and minds of its consumers, namely ‘Lux Suwadaka Siwu Abarana’.

Minuki Group bags SLCSMI and FCCISL awards

Minuki Group of Companies are pioneers of trusted total solution providers with the noble and diligent service to the footwear industry in Sri Lanka, was presented the National Silver Award by President Mithripala Sirisena at the  “SLCSMI Industrial Excellence Awards – 2016” organized by the Sri Lanka Chamber of Small & Medium Industries.