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Sri Lankan rupee pulls back from record low after cenbank intervention

Reuters – The Sri Lankan rupee hit a record low for an eighth straight session on Friday, but closed the session firmer following intervention by the central bank, market sources said. The central bank will intervene aggressively to curb excess volatility in the exchange rate, Senior Deputy Governor Nandalal Weerasinghe told Reuters. “We will not…

(0) Comments | September 22, 2018 12:45 pm

Featured

Fairway Oktoberfest to bring the best of Bavaria

Fairway Colombo brings Bavaria to your doorstep with Oktoberfest on the Street, in celebration of the famous German festival, back by popular demand following its success last year. The Hospital Street at the Dutch Hospital, Colombo 01 which has over the last two years become an exciting venue, well known for its various musical and…

(0) Comments | September 21, 2018 7:00 pm

Allianz to become Worldwide Olympic Insurance Partner

~ Olympic Movement joins forces with Allianz as trusted partner ~ Ambition to use the power of sport to connect with new audiences via digital channels The International Olympic Committee (IOC) and Allianz announced that the insurer will join the “Worldwide Olympic Partner” (TOP) Programme in 2021. Through this sponsorship agreement, Allianz will work with…

(0) Comments | September 21, 2018 6:50 pm

Crysbro steps up to sponsor the Poultry Forum 2018 organized by the University of Uva Wellassa

Crysbro, a forerunner in Sri Lanka’s poultry industry has stepped up to sponsor the upcoming Poultry Forum themed, “the Future of the Poultry World: Smarter and Greener Production” which is scheduled to be held at the University of Uva Wellassa on the 28th of September for the second consecutive year. Organized by the Department of…

(0) Comments | September 21, 2018 6:46 pm

Oracle’s Q1 FY19 GAAP EPS up by 13% to US$ 0.57

~ Fusion Cloud ERP Customer Count Nearly 5,500, NetSuite Cloud ERP Customer Count Over 15,000 Redwood Shores, Calif., September 17, 2018 — Oracle Corporation (NYSE: ORCL) today announced fiscal 2019 Q1 results. Total Revenues were US$ 9.2 billion, up 1% in U.S. dollars and up 2% in constant currency, compared to Q1 last year. Total…

(0) Comments | September 21, 2018 6:40 pm

Pyxle celebrates 15 years with Vision 2.0: new workspace & brand identity reflect strength of global partner network

Enterprise technology solution provider, Pyxle, celebrates 15 years of success this year. The company marked this milestone with the launch of its new workspace and brand Pyxle 2.0 – a fresh vision for the next decade at a company that has evolved from its humble beginnings to become an industry pacesetter, delivering digital transformation and…

(0) Comments | September 21, 2018 6:35 pm

Mastercard introduces Mastercard Track™ to make the business of doing business easier

~ Unique B2B platform powered by Microsoft Azure better connects buyers and suppliers with networks, banks and solution providers PURCHASE, NY – Mastercard (NYSE: MA) introduced Mastercard Track™ in collaboration with Microsoft (NASDAQ: MSFT). Track is a unique global trade platform that will simplify and enhance how companies around the world do business with each…

(0) Comments | September 21, 2018 6:29 pm

Mobitel supports NCE Awards as main sponsor

Mobitel is the Main Sponsor of the prestigious 2018 National Chamber of Export Awards, organized by the National Chamber of Exporters (NCE). Mobitel, being one of Sri Lanka’s leading mobile service provider has a strong relationship with the premier export chamber, sponsoring the NCE Awards for the 13th consecutive year in 2018. Mobitel, as the…

(0) Comments | September 21, 2018 6:24 pm

Sri Lankan Silicon Valley tech firm Auxenta named in ‘30 Most Innovative Companies to Watch 2018’ prestigious listing

The fast-growing boutique technology solutions firm, Auxenta, is proud to be named as one of ‘30 Most Innovative Companies to Watch for 2018’, rubbing shoulders with some of the leading tech firms around the globe. Headquartered in Silicon Valley, USA, Auxenta is an innovative software engineering services and technology product consulting company. It works with enterprises, independent software…

(0) Comments | September 21, 2018 2:06 pm

Fintrex Finance launched, backed by years of trusted excellence

At a ceremony held at Cinnamon Grand yesterday and consequent to the change of ownership from Melstacorp PLC to Bluestone1 Limited, Melsta Regal Finance Limited unveiled its new brand identity ‘Fintrex Finance Limited’.  The Bluestone acquisition was backed by a consortium of world class investors including global insurance giant Fairfax Holdings who now hold 70%…

(0) Comments | September 21, 2018 11:27 am

Genie, Sri Lanka’s First PCI-DSS Certified Payment App

Dialog Axiata PLC, Sri Lanka’s premier Digital Services Innovator, announced the launch of ‘Genie’, Sri Lanka’s first ‘Payment Card Industry Data Security Standard’ (PCI-DSS) certified mobile payment app. ‘Genie’ transforms a conventional wallet to a truly digital wallet that securely holds credit and debit cards, current and savings accounts (CASA) and eZ Cash account on…

(0) Comments | September 21, 2018 11:07 am

Top News

Sri Lanka shares hit over 30-month closing low on rupee woes

Reuters – Sri Lankan shares dropped to their lowest close in more than 30 months on Friday as foreign investors sold banking stocks, while a weaker rupee dented investor sentiment as well. The Colombo stock index ended 0.29 percent weaker at 5,904.90, its lowest close since March 9, 2016. It lost 2.1 percent this week,…

(0) Comments | September 22, 2018 12:42 pm

Study UK Alumni Awards 2018 – global winners receive awards in London

The three global winners of the Study UK Alumni Awards 2018 were presented with their awards by the British Council’s CEO, Sir Ciarán Devane, at a celebratory lunch at the British Council’s headquarters in London. The three winners, from Colombia, Sri Lanka and the Philippines are visiting the UK to build their professional networks, expertise…

(0) Comments | September 21, 2018 7:05 pm

MTD Walkers’ says they are aware of the Obligation to repay Debentures

In a disclosure to Colombo Stock Exchange (CSE), MTD Walkers PLC said that they are aware of the obligation to repay the Type A Debentures in line with the obligations as per the debenture trust deed.   The disclosure was referring to a letter sent to them on 19th September 2018 at 6:20 pm. The…

(0) Comments | September 21, 2018 12:54 pm

Sri Lanka cbank will intervene aggressively to curb rupee volatility – official

Reuters – Sri Lanka’s central bank will intervene aggressively to curb excess volatility in the rupee exchange rate, Senior Deputy Governor Nandalal Weerasinghe told Reuters on Friday. “We will not tolerate excess volatility that we have seen in the market during the last couple of days. We will intervene aggressively,” he told Reuters. The move…

(0) Comments | September 21, 2018 10:12 am

Sri Lanka shares hit 30-month low on weak rupee, foreign selling

Reuters – Sri Lankan shares dropped to their lowest close in 30 months on Thursday as foreign investors sold market heavyweight John Keells Holdings, while a weak rupee dented sentiment. The Colombo stock index ended 0.88 percent weaker at 5,922.18, its lowest close since March 9, 2016. It lost 1.4 percent last week, its first…

(0) Comments | September 21, 2018 10:00 am

Perceived Economic Opportunity PEO: Second Quarter 2018

This brief report of the Perceived Economic Opportunity (PEO) presents the analysis of a random survey carried out using a random sample of 400 men and women covering all districts in Sri Lanka on their expectations of economic prospects in the ensuing twelve months.   STATUS OF JOB PROSPECTS OR BUSINESS PERFORMANCE Analysis of the…

(0) Comments | September 21, 2018 9:55 am

CA Sri Lanka IT Forum emphasizes the need for organisations to go digital if they are to remain successful

The need for businesses to embrace digital transformation was highlighted at a recent forum organised by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) where experts emphasized that changing with futuristic trends were important if an organisation is to continue to be profitable and successful.   Speaking at an evening forum organised…

(0) Comments | September 21, 2018 9:32 am

SriLankan Airlines makes progressive changes to its Winter 2018 schedule

In keeping with its strategy of optimizing and rationalizing market opportunities throughout its route network, SriLankan Airlines will be introducing a range of significant changes to its winter schedule.   Accordingly, the National Carrier will be deploying state-of-the-art A330-300 aircraft on its daily Melbourne operations from October 28, 2018. The Airline is pleased to offer…

(0) Comments | September 20, 2018 4:11 pm
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Analysis

Perceived Economic Opportunity PEO: Second Quarter 2018

This brief report of the Perceived Economic Opportunity (PEO) presents the analysis of a random survey carried out using a random sample of 400 men and women covering all districts in Sri Lanka on their expectations of economic prospects in the ensuing twelve months.   STATUS OF JOB PROSPECTS OR BUSINESS PERFORMANCE Analysis of the…

(0) Comments | September 21, 2018 9:55 am

Smart cities can serve citizens better after significant rise in urbanization in Asia

With May’s major flooding in Ratnapura, a city in Sri Lanka, and its disastrous consequences still fresh in our minds, it reminds me of a similar occurrence, this time in the city of Buenos Aires . The cosmopolitan capital of Argentina, too, is not a stranger to floods as it is built on nine streams….

(0) Comments | September 8, 2018 8:12 pm

BIZ Confidence Trending Down

Corporates are visibly perturbed by the uncertainty clouding the macro landscape Sri Lanka’s long history of protests was upheld when railway unions decided to strike in mid-August, much to the displeasure of commuters. According to reports attributed to Sri Lanka Railways’ Additional General Manager (Operations), the Railways Department incurred a loss in excess of Rs….

(0) Comments | September 6, 2018 3:09 pm
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