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Country in a Political Limbo with Wait and See Mindset – Exporters’ Chairman Harin de Silva

Sri Lanka as a whole seems to be in political limbo with a wait and see mindset, whilst communal unrest seems to be making its presence felt yet again with the communal violence that erupted in Theldeniya in March this year, country’s Exporters’ Association Chairman Harin de Silva stressed addressing the association’s 21st Annual General…

(0) Comments | July 16, 2018 2:51 pm

Featured

Fashion Bug placed amongst the Great Places To Work in Sri Lanka

~ Valuing diversity and creating opportunities empower the growth of the business: Wins Silver in the Best in Large Sized Enterprise category Fashion Bug, one of Sri Lanka’s leading fashion brands responsible for ‘changing lifestyles’ for over two decades, was recognized as one of the favoured employers in the country at the latest survey conducted…

(0) Comments | July 13, 2018 4:43 pm

Combank heralds ‘redemption time’ for Max Loyalty Rewards

It’s rewards time for Commercial Bank’s Credit and Debit cardholders, on whose behalf the Bank has launched an exclusive website to enable tracking and redeeming of points accumulated under the Max Loyalty Rewards programme, the only loyalty programme in Sri Lanka that rewards use of both Credit and Debit Cards. The new website at https://maxrewards.combank.net/…

(0) Comments | July 13, 2018 3:54 pm

HealthRecon Connect Pvt Ltd recognized a great place to work

HealthRecon Connect Pvt Ltd celebrated another outstanding achievement in a year of successes – receiving the Great Places to Work Certification, conferred on the 5th of July. Commenting on the accolade, Chief Executive Officer- Denver Fernando stated; “We are delighted to receive this recognition on our first attempt at GPTW Certification, and within 2 years…

(0) Comments | July 13, 2018 3:43 pm

HNB completes SME capacity building program for North-Central region

Sri Lanka’s most successful retail bank, HNB PLC announced the completion of another capacity building programme focused on building financial literacy and commercial competitive ability among Small and Medium Enterprises (SMEs) in the North-Central region. Part of a regular series of initiatives organized by the bank with a view to supporting SME customers and providing…

(0) Comments | July 13, 2018 10:13 am

Nestlé launches ‘Towards an Iron-Clad Nation’ campaign to help families live healthier

~ Supports government’s strategy to address micronutrient deficiencies Nestlé has launched an island-wide campaign, ‘Towards an Iron-Clad Nation’, to create awareness amongst families about the importance of iron in the diet. It will support the government’s strategy for preventing and controlling micronutrient deficiencies in Sri Lanka. The campaign will educate people about how to receive…

(0) Comments | July 13, 2018 8:19 am

EGUARDIAN brings Fortinet’s Third Generation of Network Security to Sri Lanka

~ Hosts a conference to demonstrate FortiOS 6.0 and its more than 200 new capabilities to automate security operations and protect the digital attack surface EGUARDIAN Lanka, Sri Lanka’s leading value added IT distributor, recently held a knowledge sharing forum for their customers on Fortinet’s Security Fabric at the Cinnamon Grand. IT Heads from finance,…

(0) Comments | July 13, 2018 8:04 am

Sri Lanka Sotheby’s International Realty sign up Director for ultra-prestige Sapphire Residences at the ITC One Project at Colombo 1

Sri Lanka Sotheby’s International Realty the global marketing agents for the ultra-prestige residential development Sapphire Residences at Colombo 1 – has appointed Mr. Charles Phillpot as Sales & Marketing Director. Now living full time in Colombo, Charles Phillpot will lead a team that will promote the Sapphire Residences to the global market. The 132 private…

(0) Comments | July 13, 2018 7:51 am

Architect Chinthaka Dayaratne – Leading C+ Design to greater and better heights

Located in Wijerama, Nugegoda, C+ Design has been the flower of modern architecture since its inception in 2007. Committed to design excellence, sustainable outcomes and the highest quality of service, the primary aim of C+ Design is to build a better environment, thereby contributing to the positive development of people’s lives. At C+ Design, broad…

(0) Comments | July 12, 2018 10:56 pm

Celebrate World Ice-Cream Day with Pelwatte Dairy

Sri Lanka’s 100% local dairy manufacturer, Pelwatte Dairy Industries Limited invites all ice-cream lovers to celebrate World Ice-Cream Day with the range of their regular and exotic flavours. World Ice-Cream Day falls on the 3rd Sunday in July each year and will be celebrated on the 15th of July 2018 around the world. Celebrated annually…

(0) Comments | July 12, 2018 10:44 pm

AIA’s ‘Healthiest Workplace Survey’, in Sri Lanka for the very first time!

AIA Insurance announced the launch of Sri Lanka’s Healthiest Workplace Survey (HWS) at the Great Place to Work conference yesterday. The Healthiest Workplace Survey is a comprehensive survey of the health and wellbeing of employees around Asia-Pacific. Having surveyed thousands of employees across multiple industries since its inception in 2017, this survey is being conducted…

(0) Comments | July 12, 2018 4:21 pm

Top News

Rs. 48 Bn worth, over 210 acre New Beach Park in Colombo – reports

Sri Lanka’s Cabinet has given approval for the Government to invest more than US$300 million or nearly Rs. 48 billion to reclaim land for a new beachfront from Colpetty (Kollupitiya) to Dehiwela, officials had told reporters recently. The Coast Conservation Department and the Finance Ministry’s National Planning Department have alsogranted approval for the project according…

(0) Comments | July 16, 2018 2:16 pm

Colombo Hilton revenue up 18.7% in 2017, PED recommends formulating flexible packages

Hotel Developers Lanka (HDL), the owning company of the iconic Colombo Hilton had recorded revenue at Rs. 3,015 million in 2016/17 financial year from Rs. 2,540 million in 2015/16 financial year, an increase of 18.7% the latest annual review of the Department of the Public Enterprises (PED) highlights. “HDL recorded a profit before tax amounting…

(0) Comments | July 16, 2018 12:06 pm

India set for third-largest economy tag with $10 trn GDP by 2030

According to the World Bank data, India had a GDP of $2.59 trillion in 2017, higher than $2.58 trillion of France.   Business Standard – India is eyeing the tag of the world’s third-largest economy by 2030, after overtaking France as the sixth-largest economy and coming close to the UK, which is at the fifth…

(0) Comments | July 16, 2018 10:50 am

Sri Lankan shares extend gains to 2-week closing high

Reuters – Sri Lankan shares rose for a fourth straight session on Friday and posted their highest close in two weeks as investors bought banking and diversified stocks, stockbrokers said. But a lack of supportive news amid concerns over political uncertainty capped the upside, analysts said. The Colombo stock index ended 0.32 percent higher at…

(0) Comments | July 14, 2018 12:52 am

National Lotteries Board revenue, prize money declared down by 18% in 2017

Sri Lanka’s Department of Public Enterprises (PED) annual report that was recently released to parliament points out that National Lotteries Board (NLB’s) turnover has decreased by 18% from Rs. 19.42 billion recorded in 2016 to Rs. 16.01 billion in 2017. The report outlines that the revenue had decreased largely due to the decrease in lottery…

(0) Comments | July 14, 2018 12:10 am

CSE to host briefing event for potential Empower Board sponsors

The Colombo Stock Exchange (CSE) and the Securities and Exchange Commission of Sri Lanka (SEC) recently launched “Empower”, a listing platform fostering capital raising and growth opportunities for Sri Lankan Small and Medium Enterprises (SMEs). SMEs around the country now have at their disposal a range of new capital raising methods and entities listing on…

(0) Comments | July 13, 2018 7:13 pm

Lankaputhra, RDB, Sri Lanka Savings Bank to be merged with NSB – Department of Public Enterprises report

Recently released annual report of the Department of Public Enterprises (PED) reveals that government is hoping to expedite the process of merging Lankaputhra Development Bank (LDB) with Regional Development Bank (RDB) and Sri Lanka Savings Bank (SLSB) with country’s largest savings bank National Savings Bank (NSB). “Expedite the process of merging Lankaputhra Development Bank with…

(0) Comments | July 13, 2018 5:45 pm

J&J Ordered to Pay $4.14 Billion Punitive Damages

Bloomberg – Johnson & Johnson was ordered by a jury to pay $4.69 billion to women who claimed asbestos in the company’s talc products caused them to develop ovarian cancer, marking the sixth-largest product-defect verdict in U.S. history. The award of $4.14 billion in punitive damages on top of the $550 million meant to compensate…

(0) Comments | July 13, 2018 5:21 pm
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Analysis

A further defeat for the Present Government may worsen the prevailing Political Uncertainty – Report

First Capital Research the research arm of the country’s one of the leading investment banks in their latest Mid-Year Economic outlook points out that “A further defeat for the present Government may worsen the prevailing political uncertainty” adding that however, an improvement in the voter base may provide some respite. Report highlights that the political uncertainty…

(0) Comments | July 11, 2018 1:55 pm

Businesspeople project a broadly negative outlook for the national economy

The Sri Lanka Economic Summit 2018 organised by the Ceylon Chamber of Commerce was held last month with a focus on turning around the economy following weak growth, rising global commodity prices and uncertainty surrounding global trade. A statement issued by the chamber notes that the emphasis would be on “shaping a turnaround for the…

(0) Comments | July 9, 2018 10:14 am

Business Sentiment – Confidence Heads Back Down

Biz folk are less than impressed with the turn of events on the national stage The depreciation of the Sri Lankan Rupee has come into greater focus with the currency trading close to the psychological barrier of Rs. 160 to the US Dollar in recent times. A sum of nearly US$ 220 million in foreign…

(0) Comments | July 9, 2018 9:48 am
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