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Govt. plans to reduce debt to GDP ratio to 70% by 2020

The government has endeavored to reduce its debt to a risk-free and manageable level through revenue enhancement and mobilization efforts, the Finance Ministry says. The debt to GDP ratio increased to 79.3 percent in 2016 from 77.6 percent in 2015 reflecting the debt financing of budget deficit, lower nominal GDP growth rate and the significant…

(0) Comments | November 17, 2017 4:38 pm

Featured

Selyn launches ‘Sthri by Selyn’- An ethical fashion collective for women by women

  One of the country’s largest social enterprises, nurturing over 1000 artisans across the island, Selyn has been at the forefront of the handloom industry as an ethical fashion and lifestyle brand since its inception. Built on Selyn’s strong fair-trade roots, Sthri by Selyn is a culmination of 25 years of ethical enterprise and curates…

(0) Comments | November 17, 2017 2:37 pm

A Matcha-Match for Tired Skin: new pollution clearing mask from The Body Shop in stores

Treat your face after a hard week in the city with The Body Shop’s Japanese Matcha Tea Pollution Clearing Mask, now available in Colombo. This 100% vegan formula has no paraffin, no silicones and no mineral oil, meaning skin is both pollution and guilt-free. The mask is an all-new addition to The Body Shop’s Expert…

(0) Comments | November 17, 2017 2:25 pm

‘Have You Driven a Porsche?’ concludes on a successful note

~ A two-day event with free Porsche test drives by Sampath Bank and Porsche Centre Colombo  Eurocars, the official agent of Porsche cars in Sri Lanka, in partnership with one of the country’s leading banks, Sampath Bank PLC, hosted an exclusive event for their premium clientele under the theme, ‘Have You Driven a Porsche?’ to…

(0) Comments | November 17, 2017 2:19 pm

Hemas Hospitals Thalawathugoda hosts awareness programme to celebrate World Diabetes Day

Sri Lanka’s premium healthcare partner Hemas Hospitals Thalawathugoda conducted a special awareness campaign in lieu of the World Diabetes day which fell on November 14. The programme which spanned from 10-17th November served to raise awareness about diabetes which is currently the 8th leading cause of global deaths and is expected to be the 5th…

(0) Comments | November 17, 2017 2:05 pm

Sanjeev Jayaratnam does Sri Lanka proud at Asia Pacific Choir Games

~ Most successful conductor with largest haul of awards Sri Lankan conductor Sanjeev Jayaratnam goes on record as being the most successful conductor at the Asia Pacific Choir Games with his three choirs – Children, Teens and Adults –with a fantastic haul of one Grand Prix of Nations Trophy, two Champion of the Asian Choir…

(0) Comments | November 16, 2017 10:14 pm

CSE tops the ‘Finance, Insurance and Investment’ category at the Great HR Quiz

Two teams representing the Colombo Stock Exchange (CSE) were placed as joint winners in the ‘Finance, Insurance and Investment’ Category at the ‘Great HR Quiz’ organized by the Institute of Personnel Management (IPM). 2017 marks the third consecutive year a team representing the CSE has excelled in the competition following category wins in 2015 and…

(0) Comments | November 16, 2017 9:57 pm

Nokia 2: two-day battery life on a single charge

Say goodbye to battery rationing   HMD Global, the home of Nokia phones, today announced the launch of the Nokia 2. Nokia phones are associated with great battery life; today, we announce a smartphone that takes it to a whole new level. With 2-day battery lifei, the Nokia 2 is built to keep going long…

(0) Comments | November 16, 2017 2:00 pm

BAIRAHA hands over scholarships to support children of employees

As a trusted brand which has being close to the hearts of consumers for generations, Bairaha in keeping its commitment to support the educational advancement of the future generation handed over four scholarships to students whose parents are employees of the company. As Sri Lanka’s pioneer chicken processing firm; Bairaha Farms PLC is to provide…

(0) Comments | November 15, 2017 7:00 pm

DSI acclaimed Gold Award winners at the International Quality Circles Convention in the Philippines

Representing Sri Lanka with 2 Quality Circles, the DSI Samson Group emerged as the Gold Award winners at the recently concluded International Quality and Productivity Convention 2017, which was conducted by the International Convention on Quality Control Circles (ICQCC) in Manila, Philippines, from the 24th to the 26th of October 2017. Two subsidiaries of the…

(0) Comments | November 15, 2017 6:49 pm

Ogilvy PR Sri Lanka’s ‘Uncover the Truth’ campaign ranked 6th best in the world

Wins Gold at the SABRE Global Awards 2017 presented by The Holmes Report   The Holmes Report has ranked Ogilvy Public Relations Sri Lanka‘s ‘Uncover the Truth’ campaign for Transparency International Sri Lanka, as the 6th best PR campaign in the world for 2017, after it won a Gold Award at the SABRE Global Awards,…

(0) Comments | November 15, 2017 2:58 pm

Top News

Sri Lanka commences Automatic Dependence Surveillance Operations

Minister of Transport & Civil Aviation Nimal Siripala De Silva yesterday (15th Nov.) inaugurated the Automatic Dependence Surveillance – Broadcast (ADS-B) Operations at the Ratmalana Colombo Airport Area Control Centre. Automatic Dependent Surveillance – Broadcast (ADS-B) is considered as one of the latest developments in the surveillance technologies used for Air Traffic Control purposes. ADS-B…

(0) Comments | November 17, 2017 4:37 pm

Previous duty rate remains to persons who opened LCs prior to Budget

Minister of Finance and Mass Media Mangala Samaraweera further relaxing the policies announced in the Budget – 2018 on the importation of vehicles has also revised the policy on Loan to Value (LTV) ratio on the financing for purchase of vehicles under lease basis. Minister Samaraweera making the winding up speech in the second reading…

(0) Comments | November 17, 2017 11:05 am

Sri Lankan shares snap 5 sessions of falls on bargain hunting

Reuters – Sri Lankan shares rose on Thursday after five straight sessions of declines, on bargain hunting in beaten-down stocks and foreign buying. The Colombo stock index ended 0.31 percent firmer at 6,448.98, recovering from its lowest close since Sept. 27 hit in the previous session. It shed 2.6 percent in the five sessions through…

(0) Comments | November 17, 2017 10:21 am

Shangri-La Hotel, Colombo Ushers In A New Era Of Tourism For Sri Lanka

Combining modern luxury and legendary hospitality with authentic Sri Lankan charm, Shangri-La Hotel, Colombo is a place where the city comes alive, and is set to become an icon for the city of Colombo Shangri-La Hotels and Resorts celebrated the opening of Shangri-La Hotel, Colombo with an inauguration ceremony that signalled the city’s most highly…

(0) Comments | November 16, 2017 3:48 pm

First Capital records profit after tax of Rs. 731Mn for the 1st half of 2017/18

First Capital Holdings PLC (the Group) recorded a profit after tax of Rs. 731Mn for the 1st half of 2017/18, a substantial increase compared to Rs. 406Mn in the corresponding period of the previous year. Total comprehensive income for the 1st half was Rs. 641Mn (2016/17 – Rs. 406Mn). The primary dealer business dominated the…

(0) Comments | November 16, 2017 1:57 pm

CSE to conduct a full day of trading from the Disaster Recovery site

The Colombo Stock Exchange (CSE) is to conduct a planned full day of trading from the Disaster Recovery site using ATS Version 7 Disaster Recovery Solution on Friday 17th November 2017. The exercise will be an industry wide activity with the participation of all stakeholders, to ensure the preparedness of all participants to meet the…

(0) Comments | November 16, 2017 12:53 pm

Vote of the Budget today at 5 pm

The vote on the second reading of the Budget proposal for fiscal year 2018 is scheduled to be taken up at 5 pm today (16th Nov.) in Parliament. Mass Media and Finance Minister Mangala Samaraweera presented the Budget proposals for the financial year 2018 last Thursday (9th Nov.). The proposals were debated for six days…

(0) Comments | November 16, 2017 10:16 am

Sri Lankan stocks hit 7-week closing low; John Keells drags

Reuters – Sri Lankan shares fell for a fifth straight session on Wednesday, posting their lowest close in seven weeks, pulled down by market heavyweight John Keells Holdings amid continued worries over 2018 budget policies. The budget imposed taxes on cash-rich telecom and banking sectors to boost revenue. The Colombo stock index ended 0.45 percent…

(0) Comments | November 16, 2017 10:15 am
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Analysis

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

Moving towards a sustainable tobacco policy in Sri Lanka

By the Research Intelligence Unit (RIU) –www.riunit.com As part of the ongoing series of articles focused on developing a sustainable policy framework for the tobacco industry in Sri Lanka, RIU herein looks at the short-comings of recent government intervention and shares some of the findings from a recently completed high-level study amongst the key stakeholders…

(0) Comments | October 31, 2017 12:09 pm

Provincial Gross Domestic Product – 2016

Provincial Gross Domestic Product (PGDP) for 2016 has been computed by the Statistics Department of Central Bank of Sri Lanka (CBSL), by disaggregating the nominal Gross Domestic Product (GDP) compiled by the Department of Census and Statistics (DCS). In the estimation of PGDP for the provinces, the value of each line item in GDP is…

(0) Comments | October 31, 2017 11:29 am
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