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Rise in SOE liabilities poses contingent risks -Moody’s

Report says SOEs are a source of both explicit and implicit contingent risk for APAC governments Government management of liabilities is key to assessing risk Moody’s Investors Service says in a new report that State-owned enterprises (SOE) liabilities are posing both explicit and implicit contingent risks, to several countries including Sri Lanka. State-Owned Enterprises (SOEs)…

(0) Comments | September 14, 2019 10:00 pm

Featured

Hemas Hospitals bags 3 top National Awards for occupational health and safety

Winner of Small/Medium and Large categories in healthcare sector Merit Award in Overall Healthcare Sector Hemas Hospitals, the first and only hospital chain in Sri Lanka to have been accredited by the Australian Council on Healthcare Standards International (ACHSI), was recognized on three separate occasions for its impressive initiatives in creating a safe working environment…

(0) Comments | September 14, 2019 12:07 pm

HNB Millennium Trophy Golf Tournament concludes for the 11th Consecutive year

Damith Wickramasinghe and Niloo Jayatilake clinch top awards Strong youth showing for First-ever Junior Divisions with over 42 participants More than 80 participants for HNB Customer events The 11th annual HNB Millennium Trophy Golf Tournament – a premier Sri Lankan golfing competition for enthusiasts and HNB customers– reached a grand conclusion at the Royal Golf…

(0) Comments | September 14, 2019 12:03 pm

Boosting the Insurance industry and the role of the MSF

September is the month dedicated to insurance in Sri Lanka, beginning with National Insurance Day on the 1st. Every year the insurance industry of Sri Lanka gathers together at various locations in the country to participate in activation programs dedicated to raising awareness about their trade. The Marketing & Sales Forum of the Insurance Association…

(0) Comments | September 14, 2019 11:55 am

Prime residencies deliver 32 luxury apartment complexes in Colombo and suburbs since 2014

Sri Lanka’s most prolific and trusted property developer, Prime Group has been offering elegance, luxury and convenient access to Colombo’s prominent localities and its metropolitan lifestyle to property buyers since 2014, by completing and delivering 32 luxury apartment projects which is nearly 1800 apartment units so far. In 2019 alone, the Company completed 16 projects…

(0) Comments | September 14, 2019 11:51 am

Crysbro joint-venture leads cutting-edge chicken feed production in Sri Lanka

Continuing its rich reputation for embracing innovation, leading Sri Lankan chicken producer Crysbro has acquired the region’s most technologically-advanced chicken feed production machinery. The new machinery, housed in a Kurunegala-based chicken feed mill belonging to Crysbro subsidiary Fortune Agro Industries Ltd, will improve the company’s production speed and efficiency. This poultry processing plant is fed…

(0) Comments | September 14, 2019 11:47 am

The value of Insurance and spreading awareness

The month of September sees the insurance industry celebrate National Insurance Day and the launch of Insurance Awareness Month. The industry comes together on an annual basis to spread the message of insurance throughout the island in a bid to increase the penetration level of insurance in the country and to educate the people of…

(0) Comments | September 14, 2019 11:43 am

VIEC expands global network opening a new branch in Sri Lanka

6th September 2019 was a historical day for VIEC as they expanded their global network by opening a branch in Sri Lanka. With 23 years of experience in the student recruitment industry. Today, VIEC is one of the leading education consultants worldwide with a reputation of integrity & ethics. Since its inception in 1996, VIEC has recruited more…

(0) Comments | September 12, 2019 4:31 pm

SriLankan Airlines marks 40 years of soaring the skies

SriLankan Airlines, the National Carrier of Sri Lanka and a member of the oneworld alliance, celebrated 40 years of operations, at Airline Centre, Katunayake recently. Hon. Eran Wickramaratne, State Minister of Finance was the Chief Guest of the occasion. SriLankan Airlines Chairman, Mr. G.S. Withanage, Chief Executive Officer, Mr. Vipula Gunatilleka and many staff members…

(0) Comments | September 11, 2019 5:32 pm

HNB announces ground-breaking new partnership with Toyota Lanka

    HNB launches first ever co-branded credit card with an automotive brand 10% Discount on all genuine Toyota spare parts and motor oils in services, mechanical repairs & purchases at Toyota service centres/ spare parts outlets   Sri Lanka’s most awarded bank, HNB PLC, announced another landmark partnership with the island’s leading automotive giant,…

(0) Comments | September 11, 2019 4:41 pm

Emirates wins third consecutive Best Entertainment award at the 2020 APEX Passenger Choice Awards

Emirates awarded a ‘Five-Star Global Airline’ Official Airline Rating Emirates clinched its third consecutive award for Best Entertainment at the 2020 Passenger Choice Awards held during the APEX EXPO in Los Angeles, USA on Monday. The airline was also given a Five-Star Global Airline Official Airline Rating, the highest rating in the first airline rating…

(0) Comments | September 11, 2019 4:35 pm

Top News

We are now a flexible inflation targeting country – CBSL Governor

Central Bank Governor Dr. Indrajit Coomaraswamy believes that Sri Lanka has almost accomplished a transition to a flexible inflation targeting regime. “Now the central bank has been transitioning towards a flexible inflation targeting regime. The senior deputy governor has been very much in the helm of these things. And we have pretty much transited. We…

(0) Comments | September 14, 2019 9:31 pm

A weakening global economy calls for a consensus on Sri Lanka’s priorities

By Dr. Ganeshan Wignaraja: Global stock markets seem jittery once again. After substantial rallies during the first half of 2019, stock markets have given back much of their gains over the last two months. Against fears over a global recession, an intensifying trade war between the US and China, and an increased likelihood of a…

(0) Comments | September 14, 2019 7:57 pm

Sri Lankan rupee ends flat; stocks edge up

Reuters – ** Sri Lanka’s rupee closed flat on Thursday, with foreign outflows from government securities showing a declining trend, while equities ended a tad firmer. ** The rupee ended flat at 180.25/45 per dollar ahead of a long weekend. The currency gained 0.33% this week and is up 1.3% this year. ** Markets are…

(0) Comments | September 14, 2019 2:55 pm

Fact Crescendo expands fact checking team to fact check content on Facebook in Sri Lanka

Fact Crescendo Sri Lanka confirms they are now fact-checking content on Facebook in Sri Lanka. This continues Fact Crescendo’s commitment to combating false news and support an informed community. Fact Crescendo will check the content published in English, Sinhala and Tamil. Fact Crescendo – Sri Lanka is a locally based, independent and dedicated team that…

(0) Comments | September 14, 2019 11:39 am

Sri Lanka ‘Lotus Tower’ grand opening on Monday

SLT’s gigantic technological achievement   Sri Lanka Telecom (SLT), the premier telecommunication service provider in Sri Lanka is delighted to announce its epic accomplishment in the arena of technological infrastructure with the utmost dedication and commitment of the entire SLT family.   The ‘Lotus Tower – Multifunctional TV and Telecommunications Tower’ is foreseen to be…

(0) Comments | September 12, 2019 5:14 pm

Japan to offer Yen 01 billion to assist Sri Lanka’s counter-terrorism efforts

The public security in Sri Lanka was threatened by the Easter Sunday terrorist attacks with a huge negative economic impact on the fast growing tourism sector of the Country. As an immediate response to the incident, the Government of Japan has agreed to provide Japanese Yen 01 billion, (approximately Rs. 1.6 billion) grant under the…

(0) Comments | September 12, 2019 4:10 pm

Safran Singapore gets SriLankan aircraft landing gear deal

The Singaporean unit of the French landing gear company, Safran Landing Systems, has won a deal to renovate the landing gear of 6 A330-200 Aircrafts operated by the national carrier, SriLankan Airlines. The proposal presented by Minister of Finance to award this contract to M/s Safran Landing Systems Services Singapore, concerning 6 A330-200 was approved…

(0) Comments | September 12, 2019 3:41 pm

Rs.121 mn shopping, sports complex in Kandy

Cabinet approval has been granted to construct shopping, sports complex in Nuwarawela, Kandy at a cost of Rs.121 million. According to a proposal submitted by the Minister of Public Enterprises, Upcountry Heritage & Kandy development, the project would be carried out under the purview of the Kandy Municipal Council (KMC).

(0) Comments | September 12, 2019 3:31 pm
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Analysis

A weakening global economy calls for a consensus on Sri Lanka’s priorities

By Dr. Ganeshan Wignaraja: Global stock markets seem jittery once again. After substantial rallies during the first half of 2019, stock markets have given back much of their gains over the last two months. Against fears over a global recession, an intensifying trade war between the US and China, and an increased likelihood of a…

(0) Comments | September 14, 2019 7:57 pm

Biz confidence makes a comeback – but not without the spectre of lingering concerns

Business Sentiment – Index Regains Pre 4/21 Footing In mid-August, the cabinet approved a proposal to present a Vote on Account (VoA) with the aim of allocating government expenditure for the first quarter of 2020. This move is attributed to the belief that it wouldn’t make sense to introduce a fully fledged budget in the…

(0) Comments | September 3, 2019 2:41 pm

Colombo District Land Price Index up 13.6% in 1H 2019

Land Price Index (LPI)  for Colombo district compiled by the Central Bank of Sri Lanka, reached 132.2 during the first half of 2019, recording an increase of 13.6% compared to the first half of 2018. The three sub-indices of LPI, namely Residential, Commercial and Industrial have contributed to this increase. Industrial LPI recorded the highest…

(0) Comments | September 3, 2019 2:17 pm
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