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Lankatiles – A global brand from Sri Lanka

Mahendra Jayasekera, Managing Director of Lanka Walltiles and Lankatiles PLC, weighs in on the contribution of Lankatiles to the export economy as the only export brand from Sri Lanka to bear the country’s name, and its vision for the future. Q: Can you briefly recount to us the history of Lankatiles? A: As you know,…

(0) Comments | October 22, 2018 7:17 pm


CSE launches an Advanced Diploma in Financial Markets

The Colombo Stock Exchange (CSE) recently launched an Advanced Diploma in Financial Markets (ADFM) academic qualification, where the program for the first intake of students is presently underway. This is the first occasion CSE will award an academic qualification in its history, and is an initiative implemented in response to a growing demand for an…

(0) Comments | October 22, 2018 7:32 pm

HNB strengthens employee value with attractive benefits to staff from the Collective Agreement 2018-21

Sri Lanka’s premier private sector commercial bank, HNB PLC, held a formal ceremony to mark its entering into a new Collective Agreement with the Ceylon Bank Employees Union and the HNB PLC Officers’ Union for the period 2018/21. Collective agreements covering Bank Associates grade and Junior Executive grade were entered into with the Ceylon Bank…

(0) Comments | October 22, 2018 7:21 pm

Virtusa makes a major jump in the prestigious 2018 IDC FinTech Rankings

SOUTHBOROUGH, Mass., – Virtusa Corporation (NASDAQ GS: VRTU), a global provider of digital strategy, digital engineering, and IT outsourcing services that accelerates business outcomes for its clients, announced that it has been recognized as one of the leading global financial technology providers in the 2018 IDC FinTech Rankings. Virtusa was ranked 30th on the list,…

(0) Comments | October 22, 2018 7:11 pm

Amãna Bank Lead Banking Partner for IFFSA 2018

For the third consecutive year Amãna Bank has come forward to sponsor the Islamic Finance Forum of South Asia (IFFSA) as its Lead Banking Partner. The 3rd edition of this regional conference is scheduled to take place on 23 October 2018 at Hotel Ramada, Colombo and will focus on the broader topic of sustaining stability…

(0) Comments | October 22, 2018 11:57 am

Leading lifestyle brand Crocodile celebrates 10 years in Sri Lanka

On Friday 26 October, Crocodile Lanka (Pvt) Ltd, the sole licensee for the globally renowned brand Crocodile, will mark its decade-long presence as an iconic men’s apparel label here in Sri Lanka. To mark the occasion, Crocodile Lanka will give out special edition memorabilia to each customer on the day at the flagship store. Since…

(0) Comments | October 22, 2018 11:44 am

Amãna Bank achieves ISO/IEC 27001:2013 Certification

~ Strengthens its Information Security Management System Testifying the reliability of its information security systems, Amãna Bank recently achieved the prestigious ISO/IEC 27001:2013 Certification the world’s highest accreditation for information protection and security. The certification was bestowed by Bureau Veritas in lieu of the management of information security pertaining to IT services and infrastructure provided…

(0) Comments | October 22, 2018 11:36 am

Sampath Bank Sports Club Six-A-Side Cricket Tournament

Offering more avenues for team Sampath to sharpen and showcase their sporting skills, Sampath Bank Sports Club held the “Inter Region / Department Six-A-Side Cricket Tournament – 2018” at the Thurstan College Grounds, recently. 60 teams – 34 men’s, 13 ladies’ and 13 over 40 men’s – took part in the tournament. Mr. Tharaka Ranwala,…

(0) Comments | October 22, 2018 11:28 am

FINAP signs MOU with Bartleet Electronics

Fintechnology Asia Pacific Lanka (FINAP) recently signed a MOU with Bartleet Electronics (a part of Bartleet Innovative Technologies) with the purpose of developing a strategic partnership to market the FINAP Micro Banking Platform to banks and other financial institutions. The Executive Director of FINAP, Kutila Pinto and the Director/CEO of Bartleet Electronics, Omar Lebbé represented…

(0) Comments | October 22, 2018 11:18 am

Hemas Hospitals honours exceptional performers for the year 2017/18

ACHSI accredited leading private healthcare multi chain; Hemas Hospitals held its annual employee awards ceremony themed “Good to Great” at the Grand Monarch Thalawathugoda recently with the participation of Mr Steven Enderby – CEO of Hemas Group as the Chief Guest, and Mr. Murtaza Esufally – Chairman, Hemas Hospitals as the Guest of Honour. The…

(0) Comments | October 22, 2018 11:13 am

Sharp potential in condo investment for Sri Lankan expats

Now more than ever, Sri Lankan expats overseas are eyeing real estate as an investment opportunity, according to real estate sector experts. This has come to light with the depreciation of the Sri Lankan rupee and many expatriates are looking for apartments that are already built by a reputed company in Sri Lanka, Iconic Developments…

(0) Comments | October 22, 2018 11:08 am

Top News

Sri Lanka introduces Business to Consumer direct transaction under E-commerce

The Ministry of Finance and Mass Media as envisaged in the Budget-2018 by the Minister Mangala Samaraweera has established a regulatory framework enabling the Sri Lankan companies to initiate Business to Consumer (B2C) direct E-Commerce transactions with overseas customers. Sri Lankan Customers do enjoy this B2C  e-commerce facility via E-bay and other trading platforms but not…

(0) Comments | October 22, 2018 3:32 pm

Education modernization project begins today

The World Bank-funded Education Modernization Project will begin today under the patronage of Minister of Education Akila Viraj Kariyawasam.The World Bank has agreed to provide US$ 100 million on a concessionary credit facility for the Project to strengthen and modernize both primary and secondary education systems in the country. The project will be implemented during…

(0) Comments | October 22, 2018 2:40 pm

Sri Lanka’s retail king taps Chinese builder to weather currency storm

Softlogic’s Pathirage seeks out investors and touts Colombo as new Bangkok COLOMBO/TOKYO — Sri Lankan tycoon Ashok Pathirage remains bullish about his country’s consumer spending prospects, even as it endures a currency sell-off, and he is turning to foreign investors and contractors to build up his retail business. Softlogic Holdings, Pathirage’s hospitals-to-financial services conglomerate, recently…

(0) Comments | October 22, 2018 5:10 am

Sri Lankan rupee hits record low, stocks settle near 5-yr closing trough

Reuters – ** The Sri Lankan rupee fell to a record low of 171.80 per dollar on Friday as banks and importers bought the U.S. dollar, while stocks slid to a near five-year closing low in dull trade. ** The rupee dropped to an all-time low of 171.80 per dollar, surpassing its previous low of…

(0) Comments | October 22, 2018 5:07 am

Sri Lanka reverses $300-mln China housing deal ahead of PM’s India visit

Reuters – Sri Lanka has reversed a decision to award a $300-million housing deal to China in favour of a joint venture with an Indian company, the government said, ahead of a visit by the prime minister to its South Asian neighbour. Prime Minister Ranil Wickremesinghe will meet his counterpart Narendra Modi on Saturday in…

(0) Comments | October 19, 2018 11:43 am

Dialog first to launch Voice over WiFi calling in Sri Lanka

Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, launched Voice over Wi-Fi (VoWiFi or WiFi Calling) service, that will enable users to make calls using a Wi-Fi network. The first to launch the technology in Sri Lanka, Dialog, will enable subscribers with VoWiFi supported handsets to connect to a Wi-Fi network, and make or receive…

(0) Comments | October 19, 2018 10:48 am

Denmark’s Vestas energy gets Cabinet nod for the construction of 100 MW Wind Farm

Recent Cabinet Decisions the proposal made by Dr. Ranjith Siyambalapitiya, the Minister of Power and Renewable Energy, to award the contract for the construction of 100MW Wind Farm in the Southern coastal strip of the Mannar Island with the financial assistance of the Asian Development Bank, to M/s Vestas Asia Pacific A/S – Denmark and…

(0) Comments | October 19, 2018 10:25 am

Multipurpose Building to come up adjoining the Beach Park at ‘Crow Island’

Latest Cabinet Decisions outlined that with a view to providing space to persons living in the Crow Island area of Mattakkuliya for their public activities, it has been proposed to construct a Multipurpose building adjacent to the Beach Park constructed therein, with the assistance of the World Bank. As such, the proposal made by Lasantha…

(0) Comments | October 19, 2018 10:24 am
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CB Responds to Misleading Newspaper Articles on Rupee Depreciation

The Central Bank of Sri Lanka (CBSL) wishes to make the following statement in relation to the article titled “Government and CB have abdicated vital statutory duty by not being able to deal with rupee depreciation” that appeared in various newspapers on 08th and 09th October 2018. The Central Bank is statutorily charged with the…

(0) Comments | October 12, 2018 10:27 am

Illicit Tobacco: Tackling the Threat to National Law and Order

RIU – Increasingly the illicit tobacco network is becoming a threat to national law and order as well as security. Benefitting from access to new markets with different legal and cultural conditions, organised crime has expanded its engagement in illicit trade significantly. In a recent report on the tobacco industry the Research Intelligence Unit (RIU) said…

(0) Comments | October 10, 2018 2:24 pm

Business Sentiment – Index Falls To a Postwar Low

Negative global reports fuel discontent among members of the business community There’s hardly a shortage of bad news when it comes to Sri Lanka these days with the most recent bombshell coming from certain global economic entities, which have pointed to vulnerabilities in the country’s external debt servicing outlook and exchange rate volatility. Responding to…

(0) Comments | October 4, 2018 10:07 am
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