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SLBFE signs MoU with Japan

The Sri Lankan Bureau of Foreign Employment and Japan International Manpower Development Organization signed a MoU to train Sri Lankan Technical Interns in Japan and give them an insight into their profession. The agreement was signed by the Chairman of IM Organization Kyoki Yanagisawa and Foreign Employment Minister Thalatha Athukorala recently at the ministry. According…

(0) Comments | July 28, 2017 2:37 pm

Featured

Commercial Bank introduces Sri Lanka’s first Chip & PIN debit card

The Commercial Bank of Ceylon has introduced Mastercard debit cards with Chip & PIN technology for the first time in Sri Lanka.   These cards replace the existing Maestro debit cards with magnetic strips.  The new Chip & PIN debit card will minimise the possibility of fraudulent transactions at Point-of-Sale (POS) due to the PIN…

(0) Comments | July 28, 2017 10:43 am

Tech One Sanje honored as Microsoft Country Partner of the Year Award for Sri Lanka at Microsoft Inspire

Tech One Sanje recently attended the Microsoft Inspire event which was represented by CEO, Lars Jeppesen along with Director, Thariq Sanoon representing the country partner of the year, Sri Lanka. Winning 2017 Microsoft Country Partner of the Year Award for Sri Lanka, Tech One Sanje is proud to contribute to the pool of knowledge that the Microsoft…

(0) Comments | July 28, 2017 10:29 am

Qatar Airways Boosts Colombo Service To Four Daily Non-Stop Flights From 1 August 2017

Award-winning airline continues to demonstrate strong growth and expansion as passenger demand increases Weekly capacity to and from Colombo route increased by 20 per cent   Qatar Airways has announced it will introduce a fourth daily non-stop service from Doha to Colombo from 1 August, 2017. In addition two of the four daily flights will…

(0) Comments | July 28, 2017 10:16 am

Softlogic Life bags top awards for ‘Best Agency Distribution’ and ‘Excellence in Claims’ at Insurance Industry Awards

Softlogic Life Insurance, Sri Lanka’s fastest growing and most innovative Life Insurer, has been conferred with the top two awards – Excellence in Agency Distribution and Excellence in Claims Service at the Sri Lanka Insurance Industry Awards 2017. Softlogic Life shared the stage with all the top Indian Insurance companies who were awarded at the…

(0) Comments | July 27, 2017 9:53 pm

Allianz Lanka Recognized as One of Nation’s Foremost Employer Brands

Allianz Lanka announced that it has been recognized as the “Best Employer Brand” at the Sri Lanka Best Employer Brand Awards 2017 held recently. The event also saw the company’s Chief Executive Officer (CEO), Surekha Alles, being conferred with the “CEO of the Year” award.   “Around the world, Allianz is known to be the…

(0) Comments | July 27, 2017 3:17 pm

“SLT SpeedUp Cycle Sawariya” Day 3 marks the finish line to Dambulla

The Day 3 – SLT SpeedUp Cycle Sawariya started Trincomalee to Dambulla on 27th July morning. Forth day race will start from Dambulla to Badulla. This longest cycle race in Sri Lanka started in Colombo and travel through Puttalam, Vavunia, Trincomalee, Dambulla, Badulla up to Embilipitiya marking the finish on 29th July. The women’s race…

(0) Comments | July 27, 2017 3:04 pm

HNB’s Corporate Banking Project Finance Team arranges funding for Wind Force (Pvt) Ltd’s 10 MW Solar Power Project in Vavuniya

The Project Finance Team of HNB’s Corporate Banking Division congratulates the remarkable success of Wind Force (Pvt) Ltd on completion of their 10 MW Solar Power Project in Vavuniya under the name of Vydexa (Lanka) Power Corporation (Pvt) Ltd. The significant achievement in this project is the record breaking commissioning period of only 64 days….

(0) Comments | July 26, 2017 11:55 pm

Hayleys Puritas Sathdiyawara delivers clean water to Meegassegama and Pahala Kedithokkuwa

 ~ Sath Diyawara reaches a total of 18 villages, providing 33,000 people with 130,000 liters of drinking water, daily Continuing to expand to create a positive impact on the nation’s growing CKD concern, the Hayleys Group’s – Puritas Sath Diyawara endeavour has now extended its clean drinking water project with two more Reverse Osmosis plants….

(0) Comments | July 26, 2017 11:40 pm

Etihad Airways introduces next-generation Boeing 787 between Abu Dhabi and Beirut

Upgrade to wide-body 787 Dreamliner provides significant capacity increase on key route Aircraft features industry-leading, award-winning cabins Acclaimed Flying Nanny service now available on 787 Dreamliner flights to Beirut Etihad Airways today introduced the Boeing 787-9 on its scheduled daily service from Abu Dhabi, the capital of the United Arab Emirates (UAE), to Beirut, Lebanon….

(0) Comments | July 26, 2017 11:16 pm

Colombo Coffee Company promotes ‘Coffee Culture’ at Hotel Show and National Barista Championship 2017

Coffee was once a thriving cultivation in Ceylon. The British began large scale commercial production and by 1860, the country was amongst the major coffee-producing nations in the world. Decades later “coffee” is being revived and at the forefront of is the Colombo Coffee Company. Sri Lanka’s premier total coffee solution provider the Colombo Coffee…

(0) Comments | July 26, 2017 9:32 pm

Top News

Finance Minister meets Deputy Vice President of MCC

Minister of Finance and Mass Media Mangala Samaraweera met with Deputy Vice President of the Millennium Challenge Corporation Ms. Fatema Sumar and her delegation at his office in Parliament Wednesday (26th July). Discussions centered on the potential investment opportunities in Sri Lanka. State Minister of Finance Eran Wickramaratne and Deshal De Mel, Economic Adviser to…

(0) Comments | July 28, 2017 10:47 am

Sri Lankan shares end steady, hover near 6-wk closing low

Reuters – Sri Lankan shares ended steady in thin trade on Thursday as gains in financials were offset by losses in industrial shares, with foreign investors continuing to be net buyers. The Colombo stock index ended almost unchanged at 6,669.05. On Tuesday, the index recorded its lowest close since June 13. Shares of diversified conglomerate…

(0) Comments | July 28, 2017 9:04 am

Ceylon Association of Shipping Agents elects Ruwan Waidyaratne of Hayleys Advantis as Chairman

The Ceylon Association of Shipping Agents (CASA) announced that Mr. Ruwan Waidyaratne, Managing Director – Hayleys Advantis Limited, had been unanimously elected as its Chairman for 2017/18 at the Association’s 51st Annual General Meeting (AGM) held on the 26th of July, 2017. Having served as the Vice Chairman of CASA from the year 2014/15, Ruwan…

(0) Comments | July 27, 2017 10:40 pm

Belt and Road Initiative will attract more FDI into Sri Lanka: experts

Xinhua – Sri Lanka’s participation in China-proposed Belt and Road Initiative will boost the country’s economy and help it attract more foreign direct investment (FDI), participants of the “Sri Lanka Economic Summit 2017” have said. Speaking at the gathering here on Wednesday, Jim McCabe, chief executive officer of Standard Chartered Bank, Sri Lanka said the…

(0) Comments | July 27, 2017 12:11 pm

Electric cars win? Britain to ban new petrol and diesel cars from 2040

LONDON (Reuters) – Britain will ban the sale of new petrol and diesel cars from 2040 in an attempt to reduce air pollution that could herald the end of over a century of reliance on the internal combustion engine. Britain’s step, which follows France, amounts to a victory for electric cars that if copied globally…

(0) Comments | July 27, 2017 11:13 am

Amana Bank doubles its capital. Rights Issue oversubscribed

~ Capital reaches LKR 10 Billion ahead of time Amãna Bank was infused with over Rs. 4.75 billion to its capital base, when its shareholders expressed confidence in the Bank resulting in its recent rights issue being oversubscribed. In doubling its capital, the Bank issued 1,250,695,567 ordinary voting shares in the ratio of one new…

(0) Comments | July 27, 2017 11:07 am

Sri Lankan shares recover from 6-wk closing low on bargain hunting

Reuters – Sri Lankan shares edged higher on Wednesday, ending a seven-session losing streak as investors bought battered down shares a day after the cabinet granted approval for a Chinese-built port lease deal. The Colombo stock index rose 0.1 percent to 6,669.05, recoding its first gain in eight sessions. On Tuesday, the index had recorded…

(0) Comments | July 27, 2017 10:31 am

Shangri-La Hotels Lanka‘s “The Mall at One Galle Face” signs mega deal with Odel

Shangri-La Hotels Lanka Pvt Ltd has inked an agreement to partnership with Odel, Sri Lanka’s premier fashion and lifestyle department store owned and managed by ODEL PLC, a subsidiary of Softlogic Holdings PLC. The Mall at One Galle Face is part of a mixed development project comprising a 450-room hotel, 390 luxury apartments and 38…

(0) Comments | July 26, 2017 3:22 pm
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Analysis

Blind Men and the ‘Glyphosate Elephant’

Dr. Parakrama Waidyanatha, BSc, MSc (Cey.), PhD (London), DIC: The recent sentimental assertions of representatives of three NGOs, Peoples Planning National forum, Movement of Land and Agriculture Reforms and the Peoples Movement of Plantation Lands Right in relation to the issue of glyphosate is reminiscent of the proverb of the blind man and the elephant,…

(0) Comments | July 27, 2017 10:33 pm

NDB records highest ever Profit After Tax of LKR 2.3 billion for the first half of 2017

· PBT records 70% YOY growth to reach LKR 3.8 bn · Sound Balance Sheet expansion with 11% growth in advances and 17% growth in deposits in 6 months · NPLS further improves to 2.2% · Bolsters the results achieved in Q1 2017 with a sustainable growth momentum National Development Bank PLC (NDB) concluded the…

(0) Comments | July 26, 2017 11:41 am

Building the case for aggressive investment in Sri Lanka’s increasingly iconic real-estate sector

By Rohan Parikh – Managing Director, Iconic Developments (Pvt.) Ltd: Having gathered extensive expertise designing and executing internationally renowned real-estate projects across Asia and the Middle-East, we have learned through experience that the truth on the ground can often get distorted when viewed through the kaleidoscopic lenses of political, economic and social commentary that often…

(0) Comments | July 17, 2017 8:18 pm
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