Fitch rates Singer Finance’s proposed senior debt ‘BBB(lka)(EXP)’

Fitch Ratings has assigned Singer Finance (Lanka) PLC’s (SFL; BBB(lka)/Stable) proposed senior secured redeemable debentures of up to Rs.1.5 billion a ‘BBB(lka)(EXP)’ national long-term expected rating. 

Good governance activist raises concerns over “no questions asked” deposits

An open letter to the Minister of Finance and the Governor of the Central Bank; to be duly noted by the President, the Prime Minister, the government, commercial & financial services sectors and professional practitioners.  

Policy reforms for a productive agriculture sector in Sri Lanka

Sri Lanka’s agricultural sector employs and sustains a majority of the population, and impinges on critical areas of poverty, food security and related social issues.   

ComBank’s ‘Anagi’, ‘Udara’ customers to receive discounts at Asiri Hospitals

Commercial Bank of Ceylon (ComBank) has enhanced the value of its savings products for women and senior citizens through a partnership with Asiri Group of Hospitals to offer customers in these categories an exclusive discount on selected diagnostic services.  

NTB Amex announces ‘29 destinations in 29 days’ promo winners

Seyed Dahilan, Thair Zeenam, Mohommed Kalleel, Dhanapala Senarathna, Abdul Rizmy and Sameera Gamage were announced as the first six winners of travel packages courtesy of Nations Trust Bank (NTB) American Express (Amex).  They won travel packages to Dubai, Singapore, Penang, Langkawi, Phuket and Kerala by participating in the promotion which rewards 29 winners, travel to 29 destinations during the month of February, with a companion. To be p

Good government requires leaders to put public good above personal interests

The late Lee Kuan Yew told a group of civil servants in 1965 “Don’t change “No” to “Yes”. Don’t be a fool.  If there is a good reason why it is “No” it must remain No”, but tell the public politely.  In 2011, I listened To Lee Kuan Yew officially launch his book titled ‘Lee Kuan Yew: Hard Truths to Keep Singapore Going’ at the St. Regis Singapore. He spoke passionat

CIMA organises C-suite breakfast meeting with int’l speaker

The Chartered Institute of Management Accountants (CIMA) has organised a highly engaging forum to explore what business leaders and senior management need to do differently to achieve and maximise organisational success.   

Emirates increases service to Los Angeles

Emirates has announced that it plans to launch a second daily service from Dubai International Airport (DXB) to Los Angeles International Airport (LAX) on Friday, July 1, 2016. The second Los Angeles flight will be operated

Qatar Airways ranked among world’s most powerful brands

Qatar Airways has been ranked as one of the world’s most valuable brands for the first time, becoming the only Qatari company to be represented in the 2016 top 500 global brand ranking. Brand Finance, a world-leading independent

This wedding season, Hameedia puts the groom in the limelight

Sri Lanka’s leading menswear specialist, Hameedia is all set to launch its latest wedding range for men who will be tying the knot this season. The collection showcases three special wedding packages that will immaculately outfit the groom,

Give local architects a fair share in country’s development endeavours: SLIA

??By Lahiru Pothmulla The Sri Lanka Institute of Architects (SLIA), the apex body representing the architects of the island, expressed optimism that the government would give local architects a fair share by using them

The Ship for World Youth Leaders

The ceremony to welcome world youth leaders participating in “The Ship for World Youth Leaders” took place at the  

SriLankan and Dialog join hands to offer customers FlySmiLes benefits

The winners of the recently concluded joint competition for SriLankan Airlines FlySmiLes and Dialog Star Points members, was announced at a function at the Dialog Iconic Store premises. The competition was organised to encourage

SEC orders audit of Blue Diamonds books over fraud allegations

The Securities Exchange Commission (SEC) has appointed Ernst & Young to conduct an audit of the books of Blue Diamonds Jewellery Worldwide PLC to look into allegations of accounting frauds and misuse of funds. 

Poor show by Hand protection & plantations weighs on Hayleys 3Q

Diversified conglomerate, Hayleys PLC contracted its December quarter net profits (3Q16) by 27 percent to Rs.534.1 million over the corresponding quarter last year, 

Top 5 strategic finance issues for 2016

As companies in every industry strive to become end-to-end digital enterprises, Oracle CEO Safra Catz who earlier in her career led that very transformation at Oracle offers this advice: “The attitude you need to have is not ‘

DFCC Bank rewards winners of Dubai concert raffle draw

Lanka Money Transfer (LMT) recently sponsored Rhythm Night, a concert organized for the Sri Lankan migrants working in Dubai.

Laugfs acquires another mini-hydro for Rs.200mn

Laugfs Holdings PLC will be developing another mini-hydro power plant, following its full acquisition of shares in PAMS Power (Private) Limited for Rs.200 million last week.

New IMF facility crucial for reforms: economist

??By Chandeepa Wettasinghe A new standby facility from the International Monetary Fund (IMF) will be key to pushing ahead with the reforms required to develop Sri Lanka, a leading economist told Mirror Business. “We will need the lifeline from the IMF.

HNB relocates Delgoda Customer Centre

Hatton National Bank recently relocated the Delgoda Customer Centre at New Kandy Road, Delgoda . The newly relocated customer centre is housed in a more spacious building with ample parking space. This customer centre 

NDB 4Q up 46% to Rs.1.25bn over higher loans; but full year profit down 14%

National Development Bank PLC (NDB) increased its group net profit by as much as 46.5 percent to Rs.1.25 billion for the quarter ended December 31, 2015 (4Q15) 

Market segmentation leads to a solid and loyal customer base

When economics textbooks give the impression that all consumers are alike, they are ignoring variances in the way different groups treat a product. In management, the term unsegmented, mass marketing is used to describe this approach

CIC, NRC and ITI partner to support Agriculture Department’s islandwide fruit fly control

CIC Holdings PLC (CIC), a leading blue-chip company in Sri Lanka, recently joined hands with the National Research Council (NRC) and the Industrial Technology Institute (ITI) to conduct a collaborative study to find a solution

Investors should not time the stock market but invest time in the market

The cyclic nature of a stock market is well established. An intelligent investor should be able to maximize returns in spite of market cycles. This requires a winning spell of understanding market dynamics and adopting the correct attitude.

CAA launches islandwide programme to address consumer-related issues

S r i L a n k a ’s s t a t e - c o n t r o l l e d c o n s u m e r protection body – Consumer Affairs Authority (CAA) – is to launch an islandwide p r o g r a m m e i n v o l v i n g consumers, traders and government off i c i a l s , a statement said.

Chevron Lubricants Asia Pacific leaders meet in Colombo

The annual Chevron Lubricants Asia Pacific leadership team meeting this year is being held at The Kingsbury Hotel in Colombo from February 14 – 17, 2016. This is the first-of-its-kind to be held in Sri Lanka, where a diverse group 

Cinnamon Legends ventures into value-added cinnamon products

Sri Lanka’s leading cinnamon exporter G. P. De Silva & Sons International (Pvt.) Ltd has advanced into valueadded cinnamon products under its sister company Cinnamon Legends. “We are the leading true cinnamon supplier to the world.

Amid tough times Lankan shipping industry shows growth

Amidst tough external and domestic environment, Sri Lanka’s shipping industry has grown beyond expectations. The growth in ship arrivals, growth in tonnage and the growth in throughput have all reached positive numbers by the end of 2015.

Facebook India MD Kirthiga Reddy stepping down

REUTERS: Facebook Inc.’s India Managing Director, Kirthiga Reddy, said on Friday she is stepping down and returning to the United States to “explore new opportunities” at the company’s headquarters in Menlo Park, California.

Modi urged to make reality match ‘Make in India’ hype

Thousands of people and mascots of lions swarmed the weekend opening of a “Make in India” drive to attract foreign direct investment, pitched by Prime Minister Narendra Modi as “the biggest brand that India has ever created”.