Dialog Finance to raise Rs.701mn via rights issue

Dialog Finance PLC, the finance subsidiary of Dialog Axiata PLC yesterday disclosed plans to raise little over Rs.701 million through a rights issue.

Global ERP player IFS says investing more in Sri Lanka

Following is an interview Mirror Business conducted with Stephen Keys, Regional President of IFS’ business in APJ, ME&A during IFS World Conference 2019 concluded in Boston, USA, recently. He spoke about a number of things including IFS’ role in Sri Lanka as the second largest IT industry employer and the CSR activities of the ERP giant. Stephen is responsible for growing IFS’ presence across the region, which involves building a strong customer

The future of Sri Lanka’s education in fourth Industrial Revolution

The profound impacts that an emerging fourth Industrial Revolution (4IR) will have on the future employment landscape underscore the crucial role of education and skills in preparing a workforce that can meet the needs of today’s and tomorrow’s labour markets.

Gender equality in the workplace, really?

I have been intentional about reducing my posts during my time on sabbatical. However when the news broke that the EY US firm had training that instructed women on how to act, dress and behave (around their male counterparts) I couldn’t hold my silence. This is a reflective piece that talks about what we can learn from the recent events, and how organizations and individuals can move forward from it.

Leading battle against climate change: The energy sector response

Climate change coupled with global warming have dramatic repercussions on almost every sector. Melting ice caps, the rise of global sea levels at an unprecedented rate of 3.2 millimeters a year, along with the rise in temperatures are affecting biodiversity, species and habitats everywhere.

SriLankan cuts losses in first half

SriLankan Airlines has managed to trim its losses by 11.6 percent year-on-year (YoY) to US$ 76 million during the first half of the year, driven by a considerable reduction in operating expenditures despite a 70 percent YoY decline in revenue following the Easter Sunday attacks. During the first six

Top architect calls for urgent measures to revitalise Colombo Fort to integrate with Port City

Sri Lanka must take urgent measures to preserve and revitalise Colombo Fort with sensitive planning by integrating its colonial heritage with the upcoming Colombo Port City, Sri Lankan-born internationally renowned architect, artist and engineer, Cecil Balmond said. “Colombo Fort is

Dialog 3Q hindered by forex losses, subdued top line

Dialog Axiata PLC saw its September quarter (3Q19) earnings hit by forex losses and subdued top line growth as Sri Lanka recovers from the April 21 Easter Sunday attacks. The earnings of the celco for the period under review fell 14 percent year-on-year (YoY) to Rs.1.5 billion on revenue of Rs.29.1 billion, up 4 percent YoY. “Group revenue remained flat on a Quarter-on-Quarter (QoQ) basis to reach Rs.29.1 billion for 3Q19 mainly due to intense co

Haycarb Sept. earnings surge amid strong demand for activated carbon

The Hayleys group’s coconut shell-based activated carbon manufacturer, Haycarb PLC saw a surge in earnings during the September quarter (2Q20) amid strong demand for the firm’s value-added activated carbon products. Haycarb reported earnings o

Oil rebounds to US$ 62 on hopes for U.S.-China trade deal

(London) REUTERS: Oil rose above US$ 62 a barrel yesterday after China hinted at progress towards a trade deal with the United States, raising hopes for an end to a long dispute that has weighed on economic growth and fuel demand. China and the United States

Shares at 2-week low on profit taking; rupee ends weaker

REUTERS: Sri Lankan shares ended weaker yesterday, falling for a fourth straight session to their two-week low, as investors booked profits ahead of the presidential vote on Nov. 16. The country’s main Tamil party yesterday announced their support for Sajith Premadasa, the Housing Minister and one of the two presidential front-runners, giving him an edge over his rival Gotabaya Rajapaksa.

Surecore awarded for excellence at National ICT Awards 2019

Surecore was awarded at the recently held ‘National ICT Awards - NBQSA 2019’.

Air quality in Colombo worsens

Mist-like conditions prevailed in Colombo both on Tuesday and Wednesday with the air quality in Sri Lanka’s capital recording unhealthy values. According to the National Building Research Organisation (NBRO), a sharp increase in dust particles has caused the deterioration in air quality. Currently, New Delhi is experiencing a toxic haze, forcing residents to remain indoors

Mangala sets record straight on MCC grant

While denying the claims that the government rushed to approve the US $ 480 million Millennium Challenge Corporation (MCC) Compact, the Finance Ministry yesterday stressed that the Cabinet approval for the signing of the Compact was given ahead of the presidential election next week, to avert the risk of Sri Lanka losing the grant.

Oct. records lowest tourist arrival decline since April attacks

The tourist arrivals in October fell 22.5 percent year-on-year (YoY) to 118,743, recording the lowest monthly percentage decline compared to the previous year, since the Easter bombings in April.

Sri Lanka dazzles as Premier Partner at World Travel Market

The world’s leading travel and trade show opened in London, UK, on November 4, 2019, on a grand scale. This year, the Sri Lanka Tourism Promotion Bureau (SLTPB) collaborated with the World Travel Market (WTM) to be the ‘Premier Partner’ of the event.

Maldivian resort chain to run new US $ 35mn 5-star hotel in Tangalle

The Board of Investment of Sri Lanka (BOI) has signed an agreement with LA’MORE Hotel (Private) Limited to set up, conduct and operate a 176-key five-star hotel project in Tangalle. The project represents an investment of US $ 35 million and will employ a staff of 355 members at the property.

Singer Finance to raise Rs.1.5bn via listed debentures

Singer Finance (Lanka) PLC (SFL) is to raise up to Rs.1.5 billion through a listed debenture issue.

Singer, Sony renew BNS brand ambassador status for Sony products

Singer Sri Lanka PLC together with Sony International (Singapore) Ltd - Sri Lanka Representative Office renewed the brand ambassador status of Bathiya and Santhush (BNS) for Sony products in the country.

Daraz 11.11 Sale to set benchmark for online retail industry

Leading e-commerce marketplace, Daraz.lk is geared to bring 11.11 Sale for the second year to Sri Lanka. Termed ‘the largest online sale in the world’, 11.11 Sale offers the best deals and prices that one can get for a wide range of products online. Speaking about introducing this event and the growth of Daraz to be capable of hosting an event of such magnitude is Daraz Lanka Managing Director Rakhil Fernando.

IT Gallery conducts ‘Hikvision Deep Learning Summit 2019’

IT Gallery, the leading distributor of video surveillance products and solutions and the national distributor for Hikvision in Sri Lanka, conducted the ‘Hikvision Deep Learning Summit 2019’ at The Kingsbury recently.

Sri Lankan higher education system needs specific reforms: UGC Chief

Following is the keynote speech delivered by University Grants Commission Chairman Prof. Mohan de Silva at the International Higher Education Conference jointly organised by CMA Sri Lanka, CPM Sri Lanka and Association of Management Development Institutions in South Asia (AMDISA) in Colombo recently.

Election pledges threaten fiscal targets under IMF

Sri Lanka’s two top presidential candidates are offering election giveaways, from free housing to sanitary pads for women as well as big tax cuts that officials and a credit rating agency are warning would push the country deeper into debt.

Korean govt. offers US$ 30mn soft loan to improve SL’s ICT education

The Korean government has agreed to provide a concessional loan of US$ 30 million (approx. Rs.5, 460 million) to establish a National Centre of e-Content Development for Computer Assisted Teaching in Sri Lanka.

Kingsbury Hotel to undergo refurbishment after bomb attacks

The Board of Investment (BOI) has signed a supplementary agreement with The Kingsbury PLC to expand and refurbish the hotel in Colombo, following the Easter Sunday bomb attacks in April.

Jetwing symphony net losses widen in 2Q

Jetwing Symphony PLC saw its net losses getting widened during the September quarter (2Q20) amid the deadly blow delivered by Easter Sunday attacks in April, as tourist arrivals to the island nation plunged.

Shares down on large-cap sale; rupee ends firmer

(Colombo) REUTERS: Sri Lankan shares ended weaker yesterday falling for the second straight session, as investors sold large-cap shares two weeks ahead of presidential polls. Investor concerns were on the rise over the country’s two top presidential candidates’ election giveaway offers, that officials and a credit rating agency are warning would push the country deeper into debt.

SEC files action for market manipulation in Laugfs Gas shares

The Securities and Exchange Commission of Sri Lanka (SEC) yesterday filed action in the Colombo Fort Magistrate’s Court against W.K.H. Wegapitiya, U.K. Thilak N. De Silva and Thakshila I. Hulangamuwa for committing the offence of market manipulation, conspiracy to commit market manipulation and for aiding and abetting to commit such offence with respect to the shares of Laugfs Gas PLC (LGL), a company listed on the Colombo Stock Exchange.

Serendib Hotels makes provisions for possible losses over Thomas Cook collapse

Serendib Hotels PLC, the hospitality arm of diversified Hemas group, has made provisions for possible non-payment of dues stemming from the bankruptcy of the world’s most iconic travel brand Thomas Cook this September.

Can gastrodiplomacy revive tourism in Sri Lanka?

The Easter Sunday terror attacks dealt a blow to the Sri Lankan tourism industry, the third largest source of foreign exchange in Sri Lanka. Thousands of tourists visiting Sri Lanka cut their holiday plans short and returned home, while many advance bookings were cancelled.