Make reforms while sun shines on world economy: Lagarde

AFP: International Monetary Fund (IMF) chief Christine Lagarde has urged France and other countries to push through reforms “while the sun is shining” on the global economy.

Theagarajah assumes duties as Cargills Bank MD/CEO

Cargills Bank Limited yesterday announced the appointment of Rajendra Theagarajah as its Managing Director (MD)/Chief Executive Officer (CEO) from January 1, 2018.  

CB wants resources at govt.’s statistics office beefed up

The Census and Statistics Department (DCS) requires more resources if the new economic measurements introduced are to be followed properly, the Central Bank said last week.

WiLAT Sri Lanka celebrates fourth anniversary of ‘Ignite’ mentoring programme

Women in Logistics and Transport (WiLAT) Sri Lanka celebrated the fourth anniversary of its flagship mentoring programme on November 16th at The Kingsbury Hotel, Colombo.

USAID-funded YouLead! programme holds first leadership forum

The United States Agency for International Development (USAID)’s initiative to strengthen youth employability and skills development project, YouLead!, concluded a four-day youth leadership forum on December 9th, 2017 at Trace Expert City, Colombo.

Pathfinder Foundation Director addresses Second International Blue Economy Dialogue

As much as 40 percent of the world’s oceans are adversely affected by human activities, including pollution, depleted fisheries and loss of coastal habitats, stated Pathfinder Foundation Center for Indo-Lanka relations Director Admiral Dr. Jayanath Colombage attending the second International Blue Economy Dialogue in Dhaka, Bangladesh.

INSSSL launches Annual Memorial Lecture Series in honour of Lt. Gen. Denzil Kobbekaduwa

The Institute of National Security Studies Sri Lanka (INSSSL) launched an Annual Memorial Lecture Series in honour of Lieutenant General Denzil Lakshman Kobbekaduwa.

Imperial Spices receives Gold and Silver awards at NBE 2017

Imperial Spices, a leading exporter of spices, was presented with the much coveted Gold award for Excellence in Business and Financial Results and Export Sector (Large Category) and a Silver award in Large category at the National Business Excellence Awards Ceremony 2017 organised by the National Chamber of Commerce of 

Pee Bee Group bags prestigious ACES and BIZZ global awards

Pee Bee Management Services (Pvt.) Ltd, manufacturer and owner of Flora Tissues household brand, was recently crowned with a prestigious BIZZ award by World Confederation of Businesses (WORLDCOB) for its inspiring business journey in addition to being titled a top SME in the Asian region at the Asia Corporate Excellence and Sustainability (ACES) 

December consumer inflation eases slightly to 7.1%

Sri Lanka’s consumer prices in December rose 7.1 percent from a year earlier, easing from the previous month’s 7.6 percent, government data showed yesterday.  Core annual inflation, which excludes fresh food, energy, transport, rice and coconuts, also cooled to 4.3 percent in December on an annual basis, from the previous 

PA commends swift actions taken to lift tea ban by Russia

The Planters’ Association of Ceylon (PA) yesterday commended the Plantation Industries Ministry, Sri Lanka Tea Board and all other state and diplomatic officials that played a role in negotiating the lifting of the temporary suspension of Lankan tea imports by the Russian Federation.

Rupee falls; down 2.5% in 2017

REUTERS: The Sri Lankan rupee closed lower yesterday, ending the year 2.5 percent weaker, as demand for dollars from importers and banks outweighed inward remittances and conversion of the U.S. currency by exporters, dealers said. 

Shares rise; up 2.3 pct in 2017

REUTERS:  Sri Lankan shares rose for a sixth straight session in muted trade yesterday, ending 2017 with a modest 2.3 percent gain after two consecutive  annual losses.

India likens crypto cash to Ponzi schemes

AFP: India warned yesterday against investing in cryptocurrencies including bitcoin, likening them to “Ponzi schemes”, as it became the latest country to urge caution. Despite a boom in trade that has seen prices soar, cryptocurrencies “don’t have intrinsic value and are not backed by any kind of assets,” the Indian finance ministry said in a statement.

CA Sri Lanka launches revised Code of Best Practice on Corporate Governance 2017

In continuing to give leadership to corporates in the country to adhere to the best practices of corporate governance, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) recently launched the revised Code of Best Practice on Corporate 

Dollar heads into year 2018 on weaker note, Asia stocks mostly up

AFP: The dollar suffered fresh pressure yesterday as traders cash in the recent gains fuelled by Donald Trump’s tax cuts, while most Asian equities were on course to end a strong year on a positive note.

Bali declares ‘garbage emergency’ amid sea of waste

AFP: Bali’s palm-fringed Kuta beach has long been a favourite with tourists seeking sun and surf, but nowadays its golden shoreline is disappearing under a mountain of garbage.

Samson Rajarata Tiles wins at 2017 National Business Excellence Awards

Samson Rajarata Tiles (Pvt.) Ltd. was acclaimed the Winner in the Chemicals, Ceramics and Glass Manufacturing

Mel Medura to reduce alcohol misuse before year end

This is the time of year when many people make ‘new year resolutions’ to abstain from alcohol, tobacco and other drugs.

Sunshine Holdings ups stake in Estate Management Services as Tata exits

Sunshine Holdings PLC said yesterday it bought over 6.7 million shares of Estate Management Services Limited (EMS) from Tata Global Beverages Limited for Rs.1.6 billion.

Stocks gain for fifth session in muted trading

REUTERS: Sri Lankan shares inched higher yesterday in their fifth straight gaining session to a fresh three-week closing high as the Central Bank held key policy rates steady, with trading muted by the holidays after Christmas.

Rupee falls 0.8% on heavy dollar demand

REUTERS: The Sri Lankan rupee closed lower yesterday as demand for dollars from importers and banks outweighed inward remittances and conversion of the U.S. currency by exporters, dealers said.

Tamed credit growth proof of prudent monetary policy mgt.: Central Bank

Private credit growth has reached within arm’s length of Central Bank targets since monetary policy and government loan-to-value (LTV) policies on vehicles have fully transitioned into the market, the Central Bank said.

Doors open for PayPal in Sri Lanka, says CB

The path is open for global payments platform Paypal to open up inward payment services to Sri Lanka if they wish to do so, since the Central Bank had pledged to provide regulatory space, top officials at the monetary regulatory authority said.

Lanka Century acquires Millennium IT’s enterprise solutions biz for Rs.1.08bn

Diversified business house Lanka Century Investments PLC (LCI) said yesterday it bought 100 percent of the enterprise solutions business of Millennium Information Technology (Millennium IT ESP) from London Stock Exchange Group (LSEG) for Rs.1.08 billion. 

The Body Shop Sri Lanka partners with The Little Gym for Christmas goodwill

The Body Shop Sri Lanka partnered with The Little Gym of Colombo to bring some Christmas joy and cheer

UCL Logistics enters new era with focus on brokerage solutions

UCL Logistics (a member of Expolanka Holdings) recently announced the establishment of its restructured

Leo Burnett bids farewell to its Managing Director Ranil de Silva

Leo Burnett Sri Lanka’s iconic leader and world-renowned advertising professional Ranil de Silva, will step down

Nivasie Malabe host BNI Sri Lanka’s diverse business gathering

Nivasie  Malabe, the country’s very first vertical living experience that spreads across a stunning 22-acres

Lanka Century Investments acquires enterprise solutions business of Millennium IT

In a strategic move to diversify into the IT solutions domain, Lanka Century Investments PLC. (LCI), a conglomerate reputed