US-China trade impasse: A quick take

With Chinese Vice Premier Liu He scheduled to arrive in Washington late last week, hopes and expectations were rising that the US and China were on the verge of successfully concluding a trade agreement that would cool trade tensions and restore some semblance of stability to the largest bilateral trading relationship in the world.

Emirates Chief Commercial Officer resigns after airline’s profit dives

(Dubai) REUTERS: Emirates Chief Commercial Officer Thierry Antinori has resigned, a spokeswoman said on Sunday, days after the Gulf airline announced its weakest profit in a decade.

SilkAir launches first non-stop flights between Singapore and Busan

SilkAir, the regional wing of Singapore Airlines has launched the first non-stop flights between Singapore and Busan in South Korea.

John calls on British High Commissioner

Minister of Tourism, Wildlife and Christian Affairs John Amaratunga met with British High Commissioner to Sri Lanka James Dauris this week to discuss the  improvements in the security situation post-Easter Sunday terror attacks, and informed the High Commissioner about the future steps to be taken by the government. SLTPB Chairman Kishu Gomes and Dinesh Weerakkody participated in the discussions.

Russian tour operators visit Sri Lanka with Aitken Spence Travels

A group of 12 tour operators from St. Petersburg, Russia is currently in Sri Lanka for a familiarization tour with Aitken Spence Travels.

Sri Lanka Tourism begins new promotion in Thailand

Consequent to the recent downturn in arrivals following the Easter Sunday attacks, Sri Lanka Tourism has planned a series of short-term promotional programmes to attract tourists from short haul markets.

Pan Asia Bank’s 1Q19 growth moderates amid slower loans, higher taxes

Pan Asia Banking Corporation PLC reported lower profits for the quarter ended March 31, 2019 (1Q19) amid higher taxes and negative growth in the lender’s loan books, the interim financial accounts released to the Colombo Stock Exchange showed.

NTB’s Foreign Currency Investment Plan ensures stable returns: Senior VP

For the first time in Sri Lanka it is now possible to plan your financial future in a stable foreign currency with Nations Trust Bank’s newly introduced Foreign Currency Investment Plan.

NDB Ran Naya waives off one month interest

NDB’s Ran Naya Pawning service now offers customers one month interest free for all pawning transactions held for more than six months.

HNB launches ‘Solo’ eWallet digital payment system

Laying the foundation for a comprehensive digital payment ecosystem in Sri Lanka, the country’s most innovative bank, Hatton National Bank PLC, announced the launch of its own digital wallet and payment app, HNB Solo.

ComBank wins ACEF ‘Social Media Brand of the Year’ award for second year

The Commercial Bank of Ceylon has been adjudged the ‘Social Media Brand of the Year 2019’ for the second consecutive year at the 8th Global Customer Engagement Forum & Awards in Mumbai, sharing the honour with joint Gold winner Switzerland Tourism.

Growth at NDB slows amid asset quality challenges, sluggish loan demand

National Development Bank PLC (NDB), which was on an aggressive growth path last year, was seen treading carefully during the March quarter (1Q19) amid narrow capital buffers and rising non-performing loans in a moribund economy.

Dialog gets tailwind from strong rupee; mobile business plateaus

Profits at Dialog Axiata PLC received a tailwind from the appreciation of the rupee during the quarter ended March 31, 2019, while its mobile telephone operation—the group’s cash cow— showed signs of plateauing amid billions of rupees ar

Slower loan growth, higher provisions and taxes dent ComBank 1Q19

Decline in loan book, higher impairment charges and taxes dented the March quarter (1Q19) performance of Commercial Bank (Ceylon) PLC, Sri Lanka’s largest private lender with over Rs.1.3 trillion in assets, the interim financial accounts released to the Colombo bourse showed. The banking group recorded earnings of Rs.3.05 per share or Rs.Rs.3.1 billion for the quarter under review compared to Rs.4.07 per share or Rs.4.1 billion reported for the s

Kishu steps down from SLTDA

Kishu Gomes has resigned from the chairmanship of Sri Lanka Tourism Development Authority (SLTDA), and from now on will only function as Chairman of Sri Lanka Tourism Promotion Bureau (SLTPB) in order to fully focus on re-building Sri Lanka’s tourism brand in the aftermath of the Easter Sunday terrorist attacks.

Construction industry experiences over 25% decline in worker turnout

Sri Lanka’s construction sector is experiencing an over 25 percent decline in worker turnout in the aftermath of Easter Sunday attacks, contributing to a considerable productivity loss. Access Engineering PLC Managing Director Christopher Joshua told Mirror Business that Access Engineering is experiencing close to 25 percent reduction in worker turnout on average while the figure is higher for

IMF completes fifth review: approves US $ 164.1mn

The Executive Board of the International Monetary Fund (IMF) has approved US $ 164.1 million disbursements for Sri Lanka, completing the fifth review of the Extended Fund Facility (EFF) arrangement Sri Lanka has with the multilateral lender.

Stocks, rupee extend falls in dull trade

Sri Lankan shares fell yesterday for an eight straight session, closing at their lowest in more than six-and-a-half years and the rupee slipped for a third day in dull trade, as the Easter bombings drove off investors.

Deutsche Bank talks with UBS on asset management deal stall

(Frankfurt/Zurich) REUTERS: Talks between Deutsche Bank and UBS to tie up their asset management businesses have stalled, three people familiar with the matter said.

China ‘won’t surrender’ to pressure in US trade war

(Beijing) REUTERS: China warned yesterday that it will “never surrender to external pressure” after the United States ordered tariffs on almost all Chinese exports.

Sri Lanka imposes new curfew as mosques attacked

(Kiniyama) REUTERS: Sri Lanka widened a curfew yesterday after attacks on mosques and Muslim-owned businesses in the worst unrest since Easter bombings by Islamist militants and blocked Facebook and WhatsApp to stop people inciting violence.

NTB performance hit moderation in loans, taxes

The moderation in the growth in new loans, pressure on margins amid higher funding cost, weak asset quality and Debt Repayment Levy were among the key reasons behind the weak top and bottom line performance of Nations Trust Bank PLC (NTB), the bank’s first quarter interim results showed.

HNB 1Q19 profits halved over higher impairments, taxes

The earnings at Sri Lanka’s second largest private lender by assets more than halved during the quarter ended March 31, 2019 (1Q19), amid a significant rise in provisions on bad loans and higher taxation, the interim financial accounts of Hatton National Bank PLC (HNB) released yesterday, showed.

Real estate sector braces for slowdown

Kantar LMRB operates as ‘Kantar’ from April

International market research agency, Kantar LMRB, which has operated in Sri Lanka for close to four decades, has announced that effective 2nd April all services and offerings will be delivered under the Kantar brand name.

Win a trip to Dubai with Emirates and Daily Mirror Life

Food and travel enthusiasts have an opportunity to compete for a trip to Dubai and a visit to the world’s largest flight kitchen courtesy of Emirates, the award-winning airline and Daily Mirror Life.

NCE to launch 27th Annual Export Awards Application this week

The National Chamber of Exporters (NCE), the only private sector Chamber which exclusively serves Sri Lankan exporters, and represents them, conducts the Annual Export Awards to recognize and reward the achievements of Sri Lankan exporters of products and services as well as service providers to exporters in the international market place.

EO Sri Lanka hosts GSEA National Finals

The Entrepreneurs’ Organization’s Global Student Entrepreneur Awards (EO GSEA) is a catalyst that inspires students and young people to start and grow entrepreneurial ventures.

Advantis Engineering completes boat manufacturing facility for BAFF Polymech

Advantis Engineering, a subsidiary of Hayleys Advantis Limited, recently completed the first phase of the design, construction, furnishing and assembly of a pre-engineered boat manufacturing facility for BAFF Polymech at Ussangoda in Hambantota.

SLT partners Yechee Group to power Athurugiriya Lotus Gardens Residencies

Sri Lanka Telecom (SLT)entered into a partnership with Yechee Group (Pvt) Ltd., the professional steel construction service provider to power Lotus Gardens Residencies with SLT Smartline and Megaline Services through SLT’s superior fibre connectivity.