Lanka Sathosa playing great role of lowest price setter: PM

State-owned Lanka Sathosa shopping chain has dramatically ascended to become the largest retail player in Sri Lanka, beating all other local supermarket brands unmistakably.

Jetwing Symphony makes CSE trading debut as first listing in 2018

Jetwing Symphony Limited rang the opening bell to commence trading and celebrate the listing of its shares as the first listing at the Colombo Stock Exchange (CSE) for 2018. 

Most Asian markets rise as New Year rally extends

AFP: The equity rally that has kicked off 2018 continued yesterday, with Asian markets picking up the baton from another set of records on Wall Street. Dealers are now turning their attention to the release later in the day of key US jobs data, which is expected to show the world’s top economy continuing to improve. A forecast-smashing reading Thursday on private take-ups boosted optimism, which had already been bolstered by US tax cuts, he

Monetary Board extends suspension on Perpetual Treasuries

The Monetary Board of the Central Bank has extended the suspension on controversial primary dealer Perpetual Treasury for a period of six months from January 5, 2018.

DFCC’s FinTech subsidiary, Synapsys, joins hands with Tenaga Car Parks

Synapsys, the FinTech subsidiary of DFCC Bank, recently signed an agreement with Tenaga Car Parks (Pvt

Eimsky emerged victorious at APICTA Awards 2017

Eimsky Business Solutions Pvt Ltd, providing world class customizable software solutions serving multiple

China boosts investment in Sri Lankan mega-project

AFP: China will invest US$1 billion in the construction of three 60-storey buildings at a mega-project near Sri Lanka’s main port, Colombo, as Beijing aims to boost its influence in the Indian Ocean.

Lanka Exhibition and Conference Services celebrates 15 years

Creating the perfect opportunities for industries to prosper, Lanka Exhibition and Conference Services (Pvt.) Ltd (LECS) has been a true facilitator of trade for well over a decade.

Former WTO chief in town to win support for French bid for World Expo 2025

Former Director General of the World Trade Organisation (WTO) Pascal Lamy, inter-ministerial delegate in charge of the preparation of the French candidature for the World Expo 2025 will arrive to Sri Lanka on January5thto present the French bid.

First tea sale for 2018 concludes with 5.8mn/kg on offer

The first sale of the year concluded this Wednesday had on offer 5.8 million-kilograms. Low Growns (large leaf teas) witnessed a buoyant market whilst weak demand was encountered by the high and mid grown small 

Pakistan’s central bank allows yuan-based trade with China

The Hindu: Pakistan’s central bank has allowed the Chinese yuan to be used for bilateral trade and investment activities, a move which could replace the US dollar for transactions in strategic CPEC projects.

Chandula to Speak on impact investing in Ottawa International Forum

Chandula Abeywickrema, the Chairman of Lanka Impact Investing Network (Pvt.) Ltd (LIIN), the first impact investing private equity fund and network of Sri Lankan Impact Investors and the Co-Fonder of Ath Pavura, the first TV reality show for social entrepreneurs and impact investors was invited by World University Service of Canada  (WUSC).

THASL up in arms against ‘No locals allowed’ policy

The apex hotel association in the country yesterday expressed dismay over ‘no locals allowed’ policy of certain hotels in the country, who are not the members of their association.

Cargills Bank reports recurring net loss of Rs.16mn for 3Q

Cargills Bank Limited made a recurring net loss of Rs.16 million for the third quarter ended in September 30, 2017 from a profit of Rs.26.4 million during the corresponding quarter last year, as loan loss provisions rose and operating expenditure swelled.  

Jetwing Symphony shares to debut on CSE today

Over 502 million ordinary voting shares of Jetwing Symphony Ltd. will debut on the Colombo Stock Exchange today. The share under the security code JETS-N-0000 will be listed on the secondary Diri Savi Board.

Renuka Capital ups stake in Unity Plaza owners; triggers mandatory offer

Renuka Capital PLC, formerly Kalamazoo Systems PLC, this week bought 2.1 million shares or 12.25 percent of On’ally Holdings PLC, the owners and operators of the Unity Plaza building in Bambalapitiya, for Rs.103 million.

DFCC announces up to Rs.7bn Basel III sub debt

DFCC Bank PLC yesterday announced its director board’s decision to raise up to Rs.7 billion as Basel III compliant subordinated debt. 

Flexible inflation targeting regime by 2020: CB

The Central Bank will transition towards a Flexible Inflation Targeting (FIT) framework by 2020 under a new Monetary Law Act, Central Bank Governor Dr. Indrajit Coomaraswamy said this week.

Central Bank vows to tighten screws on finance firms

The Central Bank will tighten the screws when regulating the Non-Banking Financial Institutions (NBFIs) going forward and remain committed to consolidation in the financial sector, Central Bank Governor Dr. Indrajit Coomaraswamy said.

Avian Technologies hosts Sophos Partners at gala event

Avian technologies, a leading provider of total unified threat management and secure content management

GroupM highest award-winning Media agency of the year

GroupM Sri Lanka became the country’s most awarded media agency in 2017, successfully adding another

How can TPP without US still make sense?

Since the withdrawal of the United States from the 12-country Trans-Pacific Partnership (TPP) early this year, the once promising mega trade deal has lost momentum. 

NTB Amex promotes health and wellness with spectacular savings

All goals for the year ahead and plans that one wishes to see to fruition will be that much easier to achieve if one is healthy. With this in mind, Nations Trust Bank (NTB) American Express (Amex) cards entitle card-members to exclusive savings and privileges at a host of health and wellness partners. The most renowned gyms, spas, recreation clubs, health food restaurants and health and wellness retail establishments are now accessible to card-me

PickMe welcomes Isira Perera as Chief Operating Officer

PickMe, Sri Lanka’s most innovative ride-hailing service announced the appointment of Isira Perera as the Chief Operating Officer (COO) with effect from December 1st 2017.

DHL Express named Asia Pacific’s Top Employer once again

DHL Express, the world’s leading international express services provider, has been named 2018 Top Employer for Asia Pacific as well as eight countries in the region: Australia, Hong Kong, India, Malaysia, New Zealand, the Philippines, Singapore, 

Dinara Clothing wins Silver at Entrepreneur of the Year Awards 2017

Dinara Clothing (Pvt.) Ltd seized the Silver award in the large-scale category for the Central Province at the Entrepreneur of The Year Awards 2017 organised by Federation of Chambers of Commerce and Industries of Sri Lanka (FCCISL).

Nawaloka Hospitals installs second MRI scanner

Sri Lanka’s pioneer private healthcare provider, Nawaloka Hospitals recently installed the second MRI scanner to offer more accurate and efficient diagnostic and imaging services which will avoid waiting times for 

Rupee ends steady in dull trade

REUTERS: The Sri Lankan rupee closed steady yesterday in dull trade, as demand for dollars from importers and banks offset conversion of the US currency by exporters, dealers said.  

New Banking Act in the offing

A new Banking Act and a new bank monitoring system will be introduced soon, the Central Bank said yesterday in its Road Map for 2018.

Interim orders awarded inter parte against Ali Asger Shabbir

The members of the Gulamhusein family have obtained a series of interim orders against Ali Asger Shabbir, the youngest son of the reputed businessman, the late Dr.Shabbir Abbas Gulamhusein, regulating the affairs of Adamexpo Limited. Ali Asger Shabbir had claimed that Dr. Shabbir Gulamhusein sold to him 99.99 percent shares of Adamexpo Limited prior to his death.