LBO: Credit to the state from Sri Lanka's banking system eased in May 2012 and loans to business were back at levels seen before the Central Bank began to sterilize foreign exchange sales last year, official data show. Credit to private sector ro

Authorities must address criticisms over the adequacy of safeguards when investing in the Colombo Stock Exchange through the Employees’ Provident Fund (EPF) and make the entire process more transparent, according to a statement by a local think

Sierra Global Network Private Limited has joined hand with Think Green, a licensed company approved by the Central Environmental Authority (CEA) of Sri Lanka for pioneering in providing safe and reliable electronic waste management services in Sri La

Special privileges await American Express cardmembers who shop at the World Duty Free (Bandaranaike International Airport) from July 1 to August 31, 2012.

Insurer Aviva said it would sell or close 16 underperforming businesses as part of a strategic shake-up aimed at bolstering its finances and reinvigorating its flagging share price, Reuters reported.

The Expolanka Group announced plans to construct a state-of-the-art, iconic, green, warehouse to provide value added logistics services to the group’s rapidly expanding client base.

PJ Group’s super luxury hotel, Isle of Agnes, will be completed within the next two years, according to Chairman, PJ Group, Prasanna Jayewardene.

As a pioneer in inward remittance handling, catering to the needs of Sri Lankans working overseas, Hatton National Bank (HNB) has established remittance relationships covering the entire Gulf region, Europe, Australia, the Far East and the USA.

The Sri Lanka I nstitute of Nanotechnology (SLINTEC) together with the Ministry of Technology and Research yesterday laid the foundation for the Nanotechnology Centre of Excellence (NCE) which will be at the heart of a world-class Nanotechnology Park

Bansai Securities, one of the leading investment houses in Tokyo, is planning to invest 10 billion Japanese yen (JPY) (approximately US$ 125 million) in Sri Lanka Government Treasury bills and Treasury bonds, over the next 12-month period, a Foreign

Cargills (Ceylon) PLC’s venture into the banking industry through Cargills Agriculture and Commercial Bank (CACB) is on track and will commence operations by the end of this year, sources close to the company said.

Development of physical infrastructure without proper co-operation between the public and private sector and the development of systems to increase efficiency will likely hinder Sri Lanka’s efforts to develop itself as a logistics hub, accordin

No other invention has had a greater impact on social interaction than the advent of mobile communications. How Mobile Communication has revolutionized the way businesses and humans interact needs no elaboration.

The Central Bank of Sri Lanka yesterday said that on behalf of the Sri Lankan government, it is planning to sell sovereign bonds worth up to US$ 1 billion, which is most likely to be utilized for the redemption of the country’s first-ever sover

Brent crude fell to its lowest in 18 months yesterday at about $92 per barrel on demand growth concerns as China’s factory sector slowed and as the U.S. Fed’s stimulus plan dashed hopes for more aggressive steps to boost the w

Despite an increasing trend in non-performing loans (NPLs) being recorded over the first quarter, the International Monetary Fund (IMF) has expressed confidence in the stability of Sri Lanka’s banking system.

A new range of specialised rubber gloves that provide insulation against electrical voltages of up to 17,000 volts has been developed by Dipped Products PLC (DPL), taking the Hayleys group’s hand protection specialist into a new high-value prod

The leading Thai hotel chain, Centara Hotels and Resorts is scheduled to open its two maiden properties in Sri Lanka during the second half of this year, under the names ‘Centara Passikudah Resort & Spa’ and ‘Centara Ceysands Re

Instability in the eurozone is leading to rising risk aversion and global volatility. However, after an adjustment period, the capital flows may yield benefits to the Sri Lankan equities market, according to a top official at Ceylon Asset Management.

June 15, 2012 Colombo:  Once again, AVIVA NDB Insurance has produced the highest number of Wealth Planners who qualify to attend the Million Dollar Round Table Conference reserved for the world’s best performing life insurance sales profes

National policies to curb the availability and affordability of licensed alcohol through distribution and pricing strategies, have not led to a decline in alcohol related social negatives, Carson Cumberbatch PLC (CARS) stated.

Dialog Axiata announced the launch of the country’s first Mobile Money service following the awarding of a License under the aegis of the Payments and Settlements Act No 28 of 2005 from the Central Bank of Sri Lanka.

Sri Lanka looks set to emerge on a winning note in the crucial US GSP hearings that will conclude this month. “I am pleased to announce that Sri Lanka’s case appears to be progressing well at the crucial US GSP review hearings

Yesterday, HSBC Group Chairman, Douglas Flint, announced the launch of the HSBC Water Programme, a new $100 million, five-year partnership with WWF

Lakmini Wahalathanthri of Grants was adjudged the winner of the ‘Roger Hatchuel’ competition and has earned the enviable opportunity of attending the Roger Hatchuel Academy in France this June.

The Commercial Bank’s status as a leading service provider to the business community has been reiterated by the United Kingdom’s authoritative ‘Trade Finance’ magazine, which has adjudged the Bank the ‘Best Sri Lankan Tr

A new lab with 50 Intel classmate PCs for the Mahinda Rajapaksa Vidyalaya in Homagama was declared open by the Minister of Education Bandula Gunewardena recently.

Inquiries are flowing into seeking increased and continued opportunities to carry out Ro-Ro operations at Magam Ruhunupura Mahinda Rajapaksa Port following the success of the first ever Ro-Ro consignments accomplished on June 6at the brand new port.

June 8, 2012 Colombo: For the third consecutive year, the free Poson Vandana shuttle train between Anuradhapura and Mihintale was available for the safety and convenience of Poson pilgrims

The Securities and Exchange Commission of Sri Lanka (SEC) is to further strengthen the regulatory and supervisory arrangements at the Colombo Stock Exchange (CSE), in keeping with modern trends, SEC Chairman Tilak Karunaratne said.