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DFCC Bank secures USD 30 million in funding from BlueOrchard to support SME and micro financing sectors

DFCC Bank recently secured USD 30 million in funding from BlueOrchard, a leading global impact investment manager, following an agreement signed between the management of both organizations. The funds will be used to increase the levels of lending that the bank offers SMEs, whilst strengthening its micro-finance portfolio. With a proven a track record of…

(0) Comments | November 24, 2017 3:29 pm

Featured

Fairway Properties introduce LEICHT, Germany’s No. 1 kitchen brand to Sri Lanka

LEICHT, the No 1 best sold premium kitchen brand in Germany, has entered the Sri Lankan market via Centrepoint, a Fairway Holdings company. LEICHT is brought to you by Centrepoint, the leading interior solutions specialist in Sri Lanka. With the introduction of LEICHT, Centrepoint broadens its range of product offerings to introduce the very best…

(0) Comments | November 24, 2017 12:14 am

A Christmas Village of Fun for the kiddies at Waters Edge

Christmas is a season full of joy, laughter and family time. It is also holiday season for the kids and if you are a parent, grandparent or care-giver, the holiday season can definitely seem a little overwhelming especially when you have to keep the kids occupied. To counter this dilemma, Sri Lanka’s favourite entertainment hub…

(0) Comments | November 24, 2017 12:01 am

Nestlé brands Maggi and Nestomalt named Sri Lanka’s Top 10 FMCG brands by Kantar World Panel

Nestlé’s two iconic brands, Maggi and Nestomalt, were named Sri Lanka’s Top 10 FMCG brands in the latest Brand Footprint Study by research company Kantar World panel. They are the only noodle and malted food drink brands to be ranked in the top 10. The study, which covered over five million households, 400 brands and…

(0) Comments | November 23, 2017 6:10 pm

Chevron Lubricants partners with UTE Engineering to offer high quality Donaldson filtration solutions

In what can be termed as a partnership of excellence between two leaders in their respective industries, Chevron Lubricants and UTE Engineering inked a partnership to sell high quality US branded Donaldson filtration solutions represented by UTE exclusively through Chevron’s Island wide retail network. Chevron Lubricants Lanka PLC is a much-respected listed entity and part…

(0) Comments | November 23, 2017 10:46 am

Commercial Bank & Hayleys Agriculture support farmers with leasing promo

The Commercial Bank of Ceylon and Hayleys Agriculture Holdings Ltd. have joined forces to offer attractive discounts, competitive rentals and special schemes to customers leasing agricultural machinery marketed by the latter. The promotion,which places emphasis on facilitating the purchase of four-wheel tractors, will run till the end of the year. Customers who take advantage of…

(0) Comments | November 23, 2017 10:42 am

Hameedia team sweeps the modern Retail sector at SLIM-NASCO 2017 Awards

The team from Hameedia, Sri Lanka’s leading menswear specialist, won multiple awards at the Sri Lanka Institute of Marketing (SLIM) National Sales Congress 2017. The Hameedia team walked away from the SLIM NASCO 2017 Awards with a silver and four bronze medals in three specialized categories, and dominated the Modern Retail sector with wins in…

(0) Comments | November 23, 2017 10:35 am

Optiemus launches BlackBerry KEYone LIMITED EDITION BLACK in Sri Lanka in partnership with Softlogic

Built on a secure Android platform, it comes with dual SIM functionality especially designed for the Sri Lankan customers BlackBerry KEYone LIMITED EDITION BLACK will be available from November 20th at LKR 99,900 Optiemus Infracom Limited (BSE: 530135), a leading Indian telecom enterprise, today announced its entry in the Sri Lanka market with the launch…

(0) Comments | November 23, 2017 10:21 am

Welcome to Surban Living with Landmark’s Unique Nano Homes

The concept ofa “Nano House” was first introduced in Switzerland and was named the world’s smallest sustainable house.The design was based on a combination of pre-engineered sections made from cement fiberboard, recycled light gauge steel and polyurethane foam. These create flexible spaces and use renewable energy systems. Innovative property development solutions provider Landmark Developers Holding…

(0) Comments | November 22, 2017 11:50 pm

Experience the Boutique Apartment Lifestyle with Ekroma’s Elegant 16

A BOI approved real estate and development company, Ekroma Realtors, hopes to encourage a lifestyle that exudes style, elegance and comfort with their inaugural boutique-style residential apartment project, Elegant 16. The show apartment will be declared open for public viewing on the 18th of November 2017 and provide potential buyers with a glimpse of the…

(0) Comments | November 22, 2017 11:45 pm

Mobitel receives Gold award for ‘Service Brand of the Year’ at SLIM Brand Excellence Awards 2017

~ Mobitel also received a Silver and 2 Bronze Awards for ‘Online Brand of the Year’, ‘CSR Brand of the Year’ and ‘Local Brand of the Year’ respectively Sustaining its journey of excellence, Sri Lanka’s National Mobile Service Provider, Mobitel, shone at the SLIM Brand Excellence Awards 2017 held at the BMICH on 20th November…

(0) Comments | November 22, 2017 11:34 pm

Top News

BOI targets USD 1.5 bn FDI for 2017

Sri Lanka would target over USD 1.5 billion foreign direct investments (FDI) for 2017, said Chairman Board of Investment Dumindra Ratnayake. “We are targeting USD 5 billion by 2020. The total FDI in 2016 was USD 801 million.” Addressing on breakfast meeting in Colombo recently he said that after a drop in FDI there has…

(0) Comments | November 24, 2017 12:10 pm

India keen to strengthen economic ties with Sri Lanka: President Kovind

India yesterday (23rd Nov.) reiterated its firm commitment to partner with Sri Lanka on projects of mutual interest. “India is keen to strengthen the economic pillar of its relationship with Sri Lanka. There is a lot that can be achieved, given the synergy and economic complementarities,’’ President Ram Nath Kovind said at a meeting with…

(0) Comments | November 24, 2017 12:06 pm

Tea production in an upward trend

Sri Lanka tea production for the month of October 2017 totalled 25.4M/kgs vis-a-vis 18.7 M/kgs of October 2016 showing a gain of 6.7M/kgs. All elevations have shown a growth in 2017 compared to the corresponding month of 2016. During January to October 2017 the cumulative production totaled 258.3M/kgs vis-a-vis 237.6 M/kgs of January to October…

(0) Comments | November 24, 2017 12:04 pm

Sri Lankan shares hit 1-wk closing low amid heavy foreign outflow

Reuters – Sri Lankan shares hit a one-week closing low on Thursday, as investors waited for clarity on new taxes in the national budget and on key legislations, although selling by foreign investors in Commercial Bank of Ceylon helped boost turnover. The Colombo stock index ended 0.13 percent weaker at 6,456.11, its lowest close since…

(0) Comments | November 24, 2017 12:01 pm

USD 350 Mn from ADB for infrastructure development in Sri Lanka

The Ministry of Finance and Mass Media yesterday (22nd Nov.) entered into two Loan Agreements with Asian Development Bank (ADB) to borrow USD 150 million for the development of 3400 km of rural roadways and USD 200 million for the implementation of 100 MW Wind Power Generation Project in Mannar Island. According to the recent…

(0) Comments | November 23, 2017 3:55 pm

China Products Exhibition opens at SLECC

The China Products Exhibition was inaugurated by chief guest Sonali Wijeratne (Director General of Commerce, Department of Commerce, Sri Lanka) along with guest of honour Yang Sau Yuan (Economic Counsellor of China from the Embassy of China) at SLECC yesterday. The exhibition will run till 24th November. Sonali Wijeratne mentioned that the China Products Exhibition…

(0) Comments | November 23, 2017 3:52 pm

Central Bank cancels license of CIFL

The Central Bank of Sri Lanka has decided to cancel the finance license of Central Investments & Finance PLC (CIFL). CBSL’s Department of Supervision of Non-Bank Financial Institutions has written to the Chief Executive Officer of the Colombo Stock Exchange (CSE) notifying of the action taken against Central Investment and Finance PLC under provision of…

(0) Comments | November 23, 2017 3:26 pm

Uber reveals cover-up of hack affecting 57M riders, drivers

SAN FRANCISCO (AP) — Uber is coming clean about its cover-up of a year-old hacking attack that stole personal information about more than 57 million of the beleaguered ride-hailing service’s customers and drivers. So far, there’s no evidence that the data taken has been misused, according to a Tuesday blog post by Uber’s recently hired…

(0) Comments | November 23, 2017 1:29 pm
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Analysis

Business Sentiment – Mild Uptick in Biz Confidence

The unique index returns to triple digits albeit with little cause to rejoice Sri Lanka’s economy grew by four percent year on year in the second quarter of 2017, improving on the 3.8 percent acceleration in the previous quarter, according to the Department of Census and Statistics, with modest growth in the industry and services…

(0) Comments | November 22, 2017 10:17 am

Unlocking Women’s Potential in Sri Lanka’s Labor Force

Pushpa drops her youngest son off at the day care centre at St. Theresa’s Church in Thimbirigasaya every day. The 37-year-old then heads to work as a maid. There are days when this routine becomes impossible. If her child is feverish, for instance, the day care won’t accept him because he may infect the other…

(0) Comments | November 21, 2017 12:09 pm

Property Demand: Galle vs. Colombo

There is little argument that both Colombo and the city of Galle are two of the most developed urban regions in Sri Lanka. What’s significantly common about these two regions is that they are not just economically developed, but they are also highly celebrated travel destinations that offers so much for locals as well as…

(0) Comments | November 15, 2017 1:25 pm
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