China changes CFETS currency basket for calculating yuan index

REUTERS: China will change the way it calculates a key yuan index in the New Year, nearly doubling the number of foreign currencies in a basket that is used to set the yuan’s value, its foreign exchange market operator said yesterday.

Shares hit more than 1-wk closing high; PABC boosts turnover

REUTERS:  Sri Lankan shares touched a more than one-week closing high yesterday led by financials, with shares of Pan Asia Banking Corporation Plc accounting for 85 percent of the day’s turnover. 

N. M. K. Charity Foundation makes donation to Ave Maria Convent for new auditorium

Continuing its laudable Corporate Social Responsibility (CSR) initiative for the greater good and welfare of society, N. M. K. Charity Foundation spearheaded by the Chairman of NMK Group of Companies,

Nestlé Lanka inaugurates second model coconut farm

In celebration of its 150th anniversary worldwide and 110 years locally, Nestlé launched another big commitment to help develop the local coconut industry. 

Union Assurance deploys outstanding effort to raise community awareness

Being continuously sensitive to the communities which they operate, Union Manushyathwaya, the CSR brand of Union Assurance was able to continue its efforts and spread health, wellness and goodness for people across the island. 

SLT together with SLASSCOM presents Cloud based “Microservices Architecture”

Sri Lanka Telecom  together with SLASSCOM  recently presented one of the globally emerging topics of Cloud based “Microservices Architecture”

Sri Lanka gets US $ 75mn World Bank credit line to streamline welfare system

Sri Lanka has signed an agreement to obtain a US $ 75 million World Bank credit line to support the country’s welfare programmes and improve the equity, efficiency and transparency of its social safety net system.

CB most likely to keep rates steady: poll

REUTERS: Sri Lanka’s Central Bank is most likely to keep its key interest rates steady tomorrow, even as some economists expect further tightening to ease pressure on the rupee following the Fed rate hike earlier in the month, a Reuters poll showed. 

Melstacorp shares to hit bourse tomorrow

The trading of shares of Melstacorp Limited will commence from tomorrow, the Colombo Stock Exchange (CSE) yesterday said.

Price band may prompt some drug brands to exit: SLCPI

Sri Lanka’s pharma chamber yesterday cautioned that a few medicinal drug brands, particularly manufactured in developed countries, may not be available in the local market as a result of the companies marketing these products exiting the market. 

Director board of troubled The Finance Company reconstituted

The Monetary Board of the Central Bank has reconstituted the board of directors of The Finance Company PLC (TFC) following the resignation of the entire director board of the troubled finance company, which was earlier part of the Ceylinco group.

Havelock City breaks ground for US $ 166mn commercial development

Havelock City, the premier mixed-use development project in Sri Lanka, ceremoniously conducted the ground-breaking and inauguration of its commercial development project under the auspices of Overseas Realty Chairman and visionary businessman S.P. Tao.

ComBank assists LRH and Eye Hospital projects

The Commercial Bank of Ceylon has supported the Lady Ridgeway Children’s Hospital and the National Eye Hospital with timely assistance on two important projects launched by these institutions.

Indian CEO Forum conducts public health check camp in Peliyagoda

The Indian CEO Forum (ICF) successfully completed yet another health check camp with the active support of Ultratech Cement  and JV Gokal at the Madyama Sayanaya in Peliyagoda recently, which was inaugurated with the lighting of the oil lamp and a religious ceremony. 

Siddhalepa Group serves Sri Pada pilgrims for 39th consecutive year

Continuining an unbroken tradition of nearly four decades, the Siddhalepa Group this year too, will take on a ‘healing role’ to approximately 15 lakhs of devotees when they begin their journey to the sacred mountain of Sri Pada to pay homage to the sacred foot imprint of the Lord Buddha, which enshrines the peak.

Local community plants 600 saplings to develop the Podiwewa ecosystem

The surroundings of the Podiwewa, a minor irrigation tank in Monaragala was a hive of activity recently as the villagers from Thimbirigas-ara in Buttala came together with a single intention in mind. 

NTB supports Wildlife and Nature Protection Society through CSR initiative

With a strong commitment towards supporting the prevention of commercial exploitation of species of wild animals and plants, Nations Trust Bank once again pledged its ongoing partnership with the Wildlife and Nature Projection Society of Sri Lanka.

Mobitel partners with Gensoft for enterprise solutions

Mobitel recently partnered with Gensoft, the market leader for logistics software in Sri Lanka and the Maldives for their Gensoft Logistics ERP Suite. 

Nokia sues Apple for infringing patents, industry back on war footing

REUTERS: Nokia Corp said it had filed a number of lawsuits against Apple Inc for violating 32 technology patents, striking back at the iPhone maker’s legal action targeting the one-time cellphone industry leader a day earlier.

SLT and SLASSCOM present Cloud-based Microservices Architecture

Sri Lanka Telecom together with SLASSCOM  recently presented one of the globally emerging topics of Cloud-based ‘Microservices Architecture’ through a knowledge sharing programme themed, ‘TechTalk’.  

Metropolitan to unveil Micromax Bolt and Bolt Supreme 2 smartphones

Metropolitan Telecom Services (Pvt) Ltd, an authorised distributor for Micromax Informatics, will launch two new robust Android smartphones in Sri Lanka: the Micromax Bolt (Q346) and Bolt Supreme 2 (Q301). 

Will Port City be next Singapore?

There are many Christmas trees in the malls down Orchard Road in Singapore. In fact, when one takes the ride from Changi Airport into the city these days, the tourism promotion machinery begins with the taxi drivers 

Lankan property development industry has huge potential to attract FDI: Mangala

Following is the speech delivered by Foreign Affairs Minister Mangala Samaraweera as the chief guest at the ground-breaking and inauguration of Havelock City Commercial Development by Overseas Realty PLC, held yesterday. 

Let’s look back and learn some lessons

We are now spending the last few days of the year 2016, during which, we played different roles and collected a lot of experiences by succeeding as well as failing at what we were doing. It is based on the majority of good or bad stories that we had to experience. 

ComBank affirmed Best SME Bank in Sri Lanka

The Commercial Bank of Ceylon has been declared the‘Best SME Bank’ in Sri Lanka in 2016 by International Finance Magazine (IFM) of the UK, for ‘making a significant difference and adding value, and achieving the highest standards of innovation and performance’for Small and Medium Enterprise clients. 

ICICI Bank joins LankaPay Common ATM Network

ICICI Bank, India’s largest private sector bank by consolidated total assets, recently joined ‘LankaPay Common ATM Network’, the national payment network that facilitates high quality electronic financial services at affordable prices in a secure, reliable and convenient manner to all in Sri Lanka. 

LB Finance wins Gold, Silver and Bronze at Annual Report Awards

LB Finance PLC clinched 3 elite awards at the 52nd Annual Report Awards organized by the Institute of Chartered Accountants of Sri Lanka for their excellent performance, topping all achievements.  The event renewed recognition and reputation for enhanced financial reporting standards in the corporate sector of Sri Lanka in line with global benchmarks.

Catering to future generation will be challenging: DFCC Senior Vice President

DFCC Bank will launch a unique savings proposition for families with the objective of empowering them to build a secure financial foundation in the New Year. This scheme will be launched on the 1st of January and all DFCC’s branches will be open to welcome customers for business as usual. In this interview, DFCC’s Senior Vice President, Consumer Banking, Gillian Edwards, talks about this special offer in detail.

BOC 18 SmartGen Plus offers scholarships for 2017 A/L highflyers

As students get ready to face their Advance Level in the year 2017, the Bank of Ceylon is set to reward their achievement with a valuable scholarship award. 

Sri Lankan envoy attends AMCHAM event

From left: Dr Kumudu Gunasekara (Vice President  AMCHAM / Director of Stax),   Asanka Rathnayake (Director Hayleys Advantis),  Radhika Obeyesekere  (CEO AMCHAM),   Ambassador to the USA Prasad Kariyawasam,   Ravin Basnayake (President AMCHAM / Country Manager Citi Bank Sri Lanka),   Suren Rajanathan (Vice  President 3M Sri Lanka) and Bede  Dhammika Cooray (CEO/MD ADMO Vinseth Engineering)