Public warned of rising online financial frauds and scams

The Central Bank (CB) yesterday cautioned the public to beware of financial frauds and scams being operated through social media and Internet-based applications and to refrain from sharing confidential information such as bank passwords and PINs with third parties.

TRCSL committed to making SL a smart nation

Entrepreneur and business and technology specialist Oshada Senanayake yesterday assumed duties as new Director General of the Telecommunications and Regulatory Commission of Sri Lanka (TRCSL). Addressing the TRCSL staff after assuming duties, Senanayake said TRCSL has a huge role to play in developing the country’s digital infrastructure to make Sri Lanka a smart nation as mentioned in President Gotabaya Rajapaksa’s manifesto.

SLTDA Chairman Jayaratne steps down

A Sri Lanka Tourism Development Authority (SLTDA) statement yesterday said Johanne Jayaratne tendered his resignation from the position of SLTDA Chairman and Acting Chairman of Sri Lanka Tourism Promotion Bureau (SLTPB).

National inflation increases to 5.6% in October

Headline inflation as measured by the year-on-year change in the National Consumer Price Index increased to 5.6 percent in October 2019 from 5.0 percent in September 2019.

US Fed members unanimously reject negative rates

(Washington) AFP: US central bankers last month dismissed the idea of taking interest rates into negative territory, something President Donald Trump has called for many times, according to meeting minutes released Wednesday.

Shares end flat, rupee falls; all eyes on new govt. policies

(Colombo) REUTERS: Sri Lankan shares ended largely unchanged yesterday, hovering near a more than one-year high hit earlier this week, while the rupee ended weaker as investors awaited policies from the newly elected government.

President Ghani congratulates President Rajapaksa and calls for stronger Afghan-Lankan ties

President Mohammad Ashraf Ghani was one of the first leaders in the region to send a message of congratulations to President Gotabaya Rajapaksa, following his recent electoral victory and assumption of official duties as the seventh Executive President of Sri Lanka.

A hospital and clean water: China on the charm offensive in Sri Lanka

(Polonnaruwa) REUTERS: Amid the lush paddy fields of central Sri Lanka, a large, state-of-the-art hospital rises between the cranes and cement mixers.

New Treasury Secy. pledges to restore Finance Ministry’s lost honour

The new Treasury Secretary and Finance Ministry Secretary S.R. Attygalle yesterday pledged to rebuild the lost honour and glory of the Treasury, working efficiently and progressively with the newly-elected President Gotabaya Rajapaksa.

THASL seeks new President’s support to rebuild tourism sector

The Hotels Association of Sri Lanka (THASL) yesterday congratulated President Gotabaya Rajapaksa on his successful election as the seventh Executive President of Sri Lanka and sought his fullest support to revive the crisis-hit industry.

UNICEF calls on biz community to help protect children’s rights

The United Nations Children’s Fund (UNICEF), as it celebrated 30 years of the United Nations Convention on the Rights of the Child (UNCRC), yesterday called on the local business community to partner with the agency in the journey towards ensuring every child survives, thrives and reaches his/her full potential.

Ocean Lanka to expand operations to synthetic fabric manufacturing

Sri Lanka’s largest weft knitted fabric manufacturer, Ocean Lanka (Pvt.) Ltd, plans to expand its operations to synthetic fabric manufacturing with the support of its minority shareholder, Brandix.

Shares edge down on profit taking; rupee ends higher

(Colombo) REUTERS: Sri Lankan shares ended marginally lower yesterday from their highest level in more than a year hit in the previous session, as investors booked profits after a post-election rally, while the rupee rose to a nearly three-month peak.

SL likely to miss this year’s tea production and export targets

Sri Lanka is likely to miss the tea production and export targets set for the year as tea output sharply declined in October due to extreme weather conditions, although the demand for quality Ceylon Teas continue to rise at the Colombo Tea Auction driven by winter buying.

President Gotabaya makes key appointments

President Gotabaya Rajapaksa yesterday made several key appointments in his new administration.

Sunshine Holdings 2Q earnings up amid strong healthcare performance

Diversified conglomerate Sunshine Holdings PLC saw its September quarter (2Q20) earnings surging amid decline in sales costs and a strong healthcare sector performance, the interim financial accounts released to the Colombo Stock Exchange showed.

Dilmah wins Product of the Year in Australia

Dilmah Founder Merrill J. Fernando accepted the Australian consumer award for Product of the Year for Dilmah’s Natural Infusions last week in Sydney.

Kishu Gomes joins Dreamron as Group CEO/Director

Kishu Gomes has joined Dreamron Group of Companies this week as Group CEO and Group Director, after bidding farewell to Sri Lanka Tourism.

BOI chief Mangala Yapa resigns

Board of Investment (BOI) Chairman Mangala Yapa said yesterday that he tendered his resignation with effect from November 18.

Shares hit over 1-year high, rupee up as Rajapaksa assumes office

REUTERS: Sri Lankan shares hit their highest level in more than a year yesterday, while the rupee rose to a three-month peak, as former wartime defence chief Gotabaya Rajapaksa assumed his presidential duties.

Sri Lanka’s only glass bottle maker returns to profit in second quarter

Sri Lanka’s only glass bottle marker, Piramal Glass Ceylon PLC returned to profit during the September quarter (2Q20) amid improved domestic sales following a capacity increase carried out in the first quarter of the financial year.

A new president heralds a return to stability and growth in Sri Lanka

The election of Gotabhaya Rajapaksa as President of Sri Lanka is expected to launch a new economic cycle for Sri Lanka. A victory margin of 10 percent reflects the confidence in him as an effective leader, who had already delivered peace by winning a 25-year-old civil war and transforming Colombo into one of South Asia’s most beautiful cities, to unleash a tourism boom.

Sri Lanka: Rajapaksa win heralds a new era

The emphatic win by former Defence Secretary Gotabaya Rajapaksa at the presidential elections held in Sri Lanka on November 16 could herald in a new era for the strategically-placed South Asian island that could be modelled on the successful economic path of the Asian Tigers such as Singapore.

Indira Malwatte resigns as EDB Chairperson

Indira Malwatte yesterday announced her resignation as the head of the Export Development Board (EDB), ending over a four-year stint.

Stocks jump more than 1-year high after Rajapaksa win; rupee up

Shares jumped to their highest in more than a year in heavy volume, while the rupee rose to a two-and-half month high yesterday, after former wartime defence chief Gotabaya Rajapaksa won the presidency by a big margin.

NTB reports improved earnings for 3Q

Nations Trust Bank PLC (NTB) reported improved earnings for the September quarter (3Q19) amid a reduction in provisions made for possible bad loans, the interim financial accounts released to the Colombo bourse showed.

COSMI congratulates 7th Executive President Gotabaya

Newly-elected President Gotabaya Rajapaksa was yesterday urged to give special attention to resurrecting Sri Lanka’s ailing industrial sector through empowering micro, small and medium enterprises (MSMEs).

COYLE congratulates new President

The Chamber of Young Lankan Entrepreneurs (COYLE) yesterday congratulated the newly-elected president Gotabaya Rajapaksa on his appointment as the seventh Executive President of Sri Lanka.

Sri Lanka becomes first South Asian nation to officially recognise eSports

On September 26, 2019, the Sports Ministry declared eSports as a national sport, making Sri Lanka the first South Asian country to officially recognise competitive playing of video games as a sport.

CMTA seeks firm actions from govt. against alleged Rs.160mn vehicle import duty fraud

The Ceylon Motor Traders Association (CMTA) seeks firm legal actions from the Sri Lanka Customs (SLC) and Finance Ministry against an alleged Rs.160 million import duty fraud committed in importing 13 Audi A5 motor vehicles by a particular vehicle importer.