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Lead Story

CA Sri Lanka, BRIPASL takes lead to help build capacity for corporate insolvency services

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and the Business Recovery and Insolvency Practitioners’ Association of Sri Lanka (BRIPASL) has joined hands to help build capacity for corporate insolvency services within the country.   A Memorandum of Understanding (MoU) signed recently by CA Sri Lanka’s President Mr. Lasantha Wickremasinghe and BRIPASL…

(0) Comments | October 19, 2017 2:11 pm

Featured

Hayleys Plantations emerges as Asia Pacific’s most innovative HR practitioner

Hayleys Plantations Sector continued to receive international recognition for its pioneering HR practices, having recently been awarded the organization with The Most Innovative HR Practices at the Asia Pacific HRM Congress Awards 2017 for the second year in a row. Taking place in Bangalore, India, the Asia Pacific HRM Congress is one of the most…

(0) Comments | October 19, 2017 11:40 pm

HNB announces slashed rates on personal finance products ahead of festive season

In a continuing effort to partner its clients and support them to achieve their aspirations, Sri Lanka’s leading retail bank, HNB PLC, announced that it would be reducing interest rates on all of its core personal financial products – spanning leasing, housing and personal loans. “Over the recent past we have witnessed significant demand for…

(0) Comments | October 19, 2017 11:35 pm

‘Evinta DCS’ by John Keells IT wins GOLD at NBQSA 2017

Evinta Departure Control System (Evinta DCS), a product by John Keells IT, won the overall GOLD award at the recently concluded British Computer Society’s National Best Quality Software Awards (NBQSA) 2017, held at Taj Samudra, Colombo. Evinta DCS won the top award contending with more than 200+ leading IT companies in Sri Lanka. Evinta DCS…

(0) Comments | October 19, 2017 11:30 pm

World’s tallest model apartment makes way for Achilleion

Sri Lanka’s foremost real estate giant, Blue Mountain, has announced 2nd November 2017 as the last day for prospective customers to view the majestic model apartment at Achilleion to experience 7-star luxury at its best. After the date, the model apartment will make way for the construction of the luxury project which is already underway….

(0) Comments | October 19, 2017 3:57 pm

Ceylinco Life wins 3 ARC awards in Tokyo for 2016 Annual Report

The 2016 Annual Report of Ceylinco Life has won three awards at the ARC Awards in Tokyo, one of the largest and most prestigious competitions in the world honouring excellence in annual reports.   Sri Lanka’s life insurance market leader received the Silver award for ‘Financial Data’ and two Honours awards for ‘Written Text’ and…

(0) Comments | October 19, 2017 3:32 pm

MullenLowe Sri Lanka strikes Gold at the Effies yet again

MullenLowe Sri Lanka has once again taken home the Gold Award in the Foods category at the recently concluded 2016 Effie Awards for their innovative and inspired work on Marmite’s “Mealtime Magic” campaign. The ceremony, which was held at the Water’s Edge, saw only four Gold Awards being handed out on the night. The full…

(0) Comments | October 19, 2017 12:22 pm

LIOC joins forces with DIMO and Tata

Three giants – Lanka IOC (LIOC), Diesel & Motor Engineering PLC (DIMO) and Tata Motors Limited India are proud to announce the launch of Tata Motors Genuine Oil. The said oil is the highest performance new generation oil (CI4 Plus & 15w40 along with other attributes) for Tata vehicles blended with high quality base oils…

(0) Comments | October 19, 2017 12:17 pm

Seylan Tikiri: The account that values every child

Seylan Bank’s Seylan Tikiri Chief Manager Liability products and New age Media Dinesh Jebamani and Head of Marketing & Sales Gamika De Silva speak of the Seylan Tikiri account and its benefit to children. Launched in 1991, Seylan Tikiri is the pioneer in minor savings accounts and is evolving rapidly with innovative services to cater…

(0) Comments | October 19, 2017 12:14 pm

Janashakthi creates history at Effie Awards with first Gold in Insurance category

Janashakthi Insurance PLC created history at the recently held Effie Awards 2016, winning the coveted Gold Award in the Insurance category. This was the first Gold won in the insurance industry and was in recognition of Janashakthi’s Life Insurance campaign ‘Guiding Light for Life’. The award was one of only four Golds given out during…

(0) Comments | October 19, 2017 11:46 am

Galle Face Hotel Hosts Christmas Cake Mixing Event

The Galle Face Hotel recently celebrated the start of the Christmas season by hosting their first cake-mixing event after the restoration project, which was attended by loyal guests, social dignitaries and team members of the hotel. The cake mixing event kicked off at sunset, with all the guests being given chefs hats, gloves and aprons…

(0) Comments | October 19, 2017 11:33 am

Top News

Thai Authorities Suspend Dubious Hire Purchase Company

Thailand’s Securities and Exchange Commission has requested a criminal probe into the activities of Mitsuji Konoshita, the chief executive officer of Group Lease Plc., suspended it from trading as of Oct. 16, the Stock Exchange of Thailand has announced. The company has intrigued Thai investors who have bought its stock on the theory that its…

(0) Comments | October 19, 2017 1:32 pm

Mobitel Launches South Asia’s first NB-IoT Network at Techno 2017 in Sri Lanka

Mobitel, Sri Lanka’s National Mobile Service Provider showcased the nascent NB-IoT technology (Narrow Band Internet of Things) for the first time in South Asia at the recently concluded Techno 2017 exhibition in Sri Lanka which took place from the 13th-15th of October 2017.   Mobitel’s vibrant demonstration at Techno 2017 inspired all attendees of the…

(0) Comments | October 19, 2017 10:20 am

BPO Connect, Lanka IOC, Vallibel One and Lanka Hospitals onboard to steer CA Sri Lanka’s 38th National Conference

The 38th National Conference organised by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) received a fresh boost recently after several top organisations representing diverse sectors came on board to steer the country’s largest business summit with a series of sponsorships. BPO Connect, Lanka IOC and Vallibel One extended support to the…

(0) Comments | October 19, 2017 10:16 am

Sri Lanka has clear plan to deal with debt crisis – central bank chief

Reuters – Sri Lanka has a “clear plan” to manage its debt, with proceeds of any divestment and privatization to be used to repay loans the island nation has borrowed, central bank chief Indrajit Coomaraswamy told Reuters this week. Sri Lanka is facing a debt crisis with the repayment cycle of expensive infrastructure foreign loans…

(0) Comments | October 18, 2017 1:46 pm

Moody’s: External pressures constrain Sri Lanka’s credit profile

Moody’s Investors Service says that Sri Lanka’s (B1 negative) significant borrowing requirements and heavy reliance on external and foreign-currency funding expose the sovereign to material liquidity and external financing risk, which weighs on the sovereign’s credit profile. Despite a recent increase in foreign exchange reserves, reserve coverage of external obligations remains low. Unless reserves rise…

(0) Comments | October 18, 2017 1:41 pm

Participation of Sri Lankan SME’s at Trade Fairs in Southern China

The Consulate General of Sri Lanka in Guangzhou facilitated the participation of Sri Lankan SME’s in Trade Fairs in three different cities in Southern China, namely, Nanning (Guangxi province), Dongguan and Guangzhou to create awareness and boost trade for the wide range of products that are manufactured in Sri Lanka. While the Trade Fairs in…

(0) Comments | October 18, 2017 1:35 pm

US investor community hears a strong case for Sri Lanka in New York

Macroeconomic stabilization of the economy broadly on track Better, more facilitative capital market regulation across the board CSE ready to play its part in the national growth agenda Foreign speakers offer a compelling endorsement of Sri Lanka   The “Invest Sri Lanka Investor Forum” organized by the Colombo Stock Exchange (CSE) and the Securities and…

(0) Comments | October 18, 2017 11:27 am

Sri Lankan shares hit near one-week closing low on profit-taking

Reuters – Sri Lankan shares ended down for a second straight session on Tuesday, slipping further from their highest close in more than 10 weeks hit last week, with investors booking profits in telecom stocks while block deals boosted the turnover, brokers said. The Colombo stock index ended 0.36 percent weaker at 6,572.05, its lowest…

(0) Comments | October 18, 2017 12:13 am
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Analysis

The importance of investing and staying invested in Sri Lankan real estate

By Pranav Desai, Executive Director, Iconic Developments Ltd. The construction sector has been a highly dynamic and vibrant contributor to national economic growth in post-war Sri Lanka, most recently recording a staggering growth rate of 9.3% in the second quarter of 2017. Naturally, this boom in the construction sector has not gone un-noticed with a…

(0) Comments | October 17, 2017 7:32 pm

Six reasons why Sri Lanka needs to boost its ailing private sector

Sri Lanka experienced strong growth at the end of its 26-year conflict. This was to be expected as post-war reconstruction tends to bring new hope and energy to a country. And Sri Lanka has done well—5 percent growth is nothing to scoff at. However, Sri Lanka needs to create an environment that fosters private-sector growth…

(0) Comments | October 9, 2017 3:03 pm

Business Confidence Crashes-LMD

The perilous state of the nation sends the sentiment index into a tailspin The new Inland Revenue Bill was passed in parliament in early September with a view to streamline the system of taxation, broaden the tax base and grow government revenue as outlined by the International Monetary Fund (IMF) when it approved a three…

(0) Comments | October 6, 2017 10:24 am
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