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Russia restricts tea supplies from Sri Lanka after finding beetle

MOSCOW (Reuters) – Russia will place temporary restrictions on imports of all agricultural products from Sri Lanka, including tea, from Dec. 18, the Russian agricultural safety watchdog Rosselkhoznadzor said on Thursday. The watchdog said it had taken the decision to impose restrictions after it found an insect, known as the Khapra beetle, in the packaging…

(0) Comments | December 15, 2017 7:39 pm

Featured

Alumex signs on as strategic partner to Architect 2018 for the 9th consecutive year

Helping to build a sustainable future that is based on values of creativity and innovation, Sri Lanka’s foremost Aluminum Extrusion Manufacturer, Alumex PLC, announced its continuing role as Strategic Partner to the country’s largest construction and architecture exhibition, Architect 2018 for the 9th consecutive year. Organized by the Sri Lanka Institute of Architects, the exhibition…

(0) Comments | December 15, 2017 9:36 pm

Siyapatha Finance opens new branch in Panadura

Leading financial organization Siyapatha Finance PLC celebrated the opening of a new branch in Panadura recently. This is the 26th branch in their widely spread network. Mr. Saman Herath, the Managing director of Siyapatha Finance PLC graced the occasion as chief guest. The opening of the new branch in Panadura marked yet another milestone in…

(0) Comments | December 15, 2017 9:27 pm

Indulge in seasonal treats at the Bakery at The Edge

This holiday season, Waters Edge Hotel in Battaramulla will be organizing a plethora of holiday festivities. One of the main attractions will be found at the Bakery at The Edge. Over the years, Waters Edge has grown immensely and earned its way to the top as one of the renowned hotels in the country. Waters…

(0) Comments | December 15, 2017 9:19 pm

USAID-funded YouLead! programme holds first leadership forum

The United States Agency for International Development (USAID)’s initiative to strengthen youth employability and skills development project, YouLead! concluded a four-day youth leadership forum on December 9, 2017 at Trace Expert City, Colombo. The closing day brought together 40 youth ambassadors and 60 representatives from the public, private and non-government sectors in interactive and engaging…

(0) Comments | December 15, 2017 9:12 pm

Vinod Weerasinghe & Taniya Minel Balasuriya Sri Lanka Junior Boys’ & Girls’ Champions 2017 sponsored by Prima Sunrise Bread

~ Duwarshan wins Boys’ Silver Division, Shanal Binushka Bronze Division winner and Kaya Daluwatte victorious in Copper Division  The Sri Lanka Junior Boys & Girls Golf Championship 2017, sponsored by PRIMA SUNRISE BREAD for the past 10 consecutive years, produced 2 champions in the Boys’ & Girls’ categories representing the Gold Division for the Boys…

(0) Comments | December 15, 2017 8:57 pm

SLI Motor Plus offers rare opportunity for hybrid car owners

Hybrid vehicle owners got an opportunity recently to get their vehicles inspected by hybrid vehicle experts for free. This was at the Hybrid Car Clinic organised by Sri Lanka Insurance Motor Plus in partnership with Edirisinghe Brothers Pvt Ltd. Hybrid Hub. The event took place on December 9 from 9.00 a.m. to 5.00 p.m. at…

(0) Comments | December 15, 2017 11:13 am

Think Big, Start Small with NDB Wealth Money Plus For Kids

With Christmas almost upon us, there is a tendency to spend too much on gifts, which only benefit your children over the very short term. However, with regards to children especially, this festive season is actually the best opportunity to show that you not only care now, but also will continue to care in the…

(0) Comments | December 14, 2017 4:54 pm

Elephant House shines in first Interbrand ‘Best Sri Lankan Brands’ report

Sri Lanka’s premier food and beverages brand Elephant House was recently recognised as one of the top 20 most valuable Sri Lankan brands by leading international brand consultancy Interbrand. Ranked as the 10th most valuable Sri Lankan brand, Elephant House was additionally the only brand in the food and beverages category highlighted in Interbrand’s first-ever…

(0) Comments | December 14, 2017 12:40 pm

Buy DSI school shoes and win with DSI Supersport ‘Super Thegi Waare’

~ Stand a chance to win amazing gifts in the New Year DSI Supersport, Sri Lanka’s No. 1 school footwear announced the launch of ‘Super Thegi Waare’ – a great prize draw competition for school children. Participants stand a chance to win 200 mountain bikes, 100 tabs and 1000 smart watches by entering the draw….

(0) Comments | December 14, 2017 12:25 pm

Sampath Credit and Debit Cardholders offered amazing discounts on eChannelling services

eChannelling PLC, the pioneer and largest doctor channeling network in Sri Lanka, has tied up with SampathCards to offer its Credit and Debit Cardholders massive discounts on eChannelling service fee. Cardholders of Sampath Mastercard and Visa Credit Cards can avail of a whopping 35% discount when using www.echannelling.com and eChannelling Mobile App. Sampath Visa Debit…

(0) Comments | December 14, 2017 11:30 am

Top News

Constituent Changes to the S&P Sri Lanka 20 Index

The Colombo Stock Exchange (CSE) announces the following changes in S&P Sri Lanka 20 index constituents made by S&P Dow Jones Indices at the 2017 year-end index rebalance. A revision of the S&P SL 20 methodology in March 2017 established the practice of a semiannual rebalance of the index (previously conducted annually), which is set…

(0) Comments | December 15, 2017 6:58 pm

ADB grants USD 270 Mn to implement two development projects

The Government of Sri Lanka entered into three Loan Agreements worth of USD 270 million with the Asian Development Bank (ADB) for the implementation of two projects; Integrated Road Investment Program and Jaffna Kilinochchi Water Supply Project. A loan of USD 150 million was obtained for the investments required for the 4th Tranche of the…

(0) Comments | December 15, 2017 6:51 pm

Exchange defaced currency notes before Dec. 31 – CBSL

The Central Bank of Sri Lanka (CBSL) has drawn attention of the general public for implementation of its Clean Note Policy and regulation on the willfully mutilation, alteration or defacement of Sri Lanka currency notes. The Clean Note Policy has been introduced by CBSL aiming at maintaining the quality standards of the currency notes and…

(0) Comments | December 15, 2017 12:45 pm

Sri Lankan stocks little changed near 8-month closing low

Reuters – Sri Lankan shares closed little changed on Thursday, hovering near their lowest close in eight months hit in the previous session, as gains in plantation and beverage stocks offset falls in palm oil and diversified shares. The Colombo Stock Index ended 0.07 percent higher at 6,357.04. It had posted its lowest close since…

(0) Comments | December 15, 2017 12:22 am

S&P upgrades DFCC Bank’s Rating Outlook from Negative to Stable; Ratings affirmed at B/B

S&P Global Ratings has revised its credit rating outlook for DFCC Bank from negative to stable, while affirming ‘B’ long-term and ‘B’ short-term issuer credit ratings on the bank. In its assessment of DFCC’s business position, the Bank is projected to maintain its satisfactory market position and business stability over the next 12-18 months. The…

(0) Comments | December 14, 2017 7:27 pm

JAT Holdings could go public in Singapore – MD

The Managing Director of JAT Holdings (Pvt) Ltd, Mr. Aelian Gunawardene, says that the company is ready to go public anytime, but they have opted not to go public in Sri Lanka due to ‘uncertainties’ of the stock market. In an exclusive interview with Ada Derana Biz, he said that even though JAT Holdings is…

(0) Comments | December 14, 2017 4:10 pm

Singer achieves Rs. 1 billion sales of Huawei Branded smartphones in November

Singer Sri Lanka, the exclusive national distributor for Huawei smartphones announced that, it surpassed Rs. 1 billion sales of Huawei smartphones for the month of November 2017. The Rupee one billion sales were solely for the month of November and this was the second time Singer Sri Lanka has reached this milestone. Singer Sri Lanka…

(0) Comments | December 14, 2017 12:45 pm

Moody’s affirms ratings of three Sri Lankan banks; maintains negative outlook

Singapore, December 13, 2017 — Moody’s Investors Service has affirmed the long-term ratings of three banks in Sri Lanka (B1 negative). The rating actions follow the affirmation of Sri Lanka’s B1 sovereign rating. The affected banks are: (1) Bank of Ceylon; (2) Hatton National Bank Ltd.; and (3) Sampath Bank PLC. The baseline credit assessments…

(0) Comments | December 14, 2017 10:25 am
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Analysis

Truecaller Insights Reveal Top Spammers in Sri Lanka

Truecaller, the world’s most used Caller ID & Spam Detection app, recently announced some revealing stats on spam and scam calls in Sri Lanka. Unwanted spam calls are on the rise around the globe, and the situation is no different in Sri Lanka. The recently published Truecaller Insights: ‘Top Spammers in Sri Lanka in 2017’…

(0) Comments | December 13, 2017 5:29 pm

A factual argument against the total liberalization of shipping agencies

By Chathura Subasinghe The Shipping industry in Sri Lanka is already liberalized. All aspects of the Shipping Industry except for Agency is liberalized. This includes: terminals, warehouse and depot infrastructure, ancillary service infrastructure etc. which constitute a maritime hub where foreign entities can have 100% ownership. Despite this, we are yet to see foreign investments…

(0) Comments | December 11, 2017 3:56 pm

A factual argument against the total liberalization of shipping agencies

~ An evidence-based article amidst public confusion for intelligent readers By Chathura Subasinghe The Shipping industry in Sri Lanka is already liberalized. All aspects of the Shipping Industry except for Agency is liberalized. This includes: terminals, warehouse and depot infrastructure, ancillary service infrastructure etc. which constitute a maritime hub where foreign entities can have 100%…

(0) Comments | December 8, 2017 7:08 pm
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