The Chief Executive Officer of National Development Bank Plc (NDB), Rajendra Theagarajah last week denied claims by a former head of the bank that the two private development banks, NDB and DFCC have been ‘forced’ by the banking regulator, the Central Bank of Sri Lanka to go for a merger. In a recent interview with The Nation, opposition parliamentarian
Whilst tensions between India and Sri Lanka keep rising over alleged illegal fishing or poaching in the territorial waters of the island in the north of the country, a fisherman toiling the seas of Wellawatte got lucky last week with a hefty catch. Here the fisher is seen carrying his bumper for the day which he said was worth around…
HSBC said it had lead-arranged a 100 million US dollar 5-year loan for Sri Lanka Telecom (SLT) with the participation of Colombo-based Sampath Bank.The funds will be used to upgrade telecom infrastructure at SLT, which has the island’s sole wireline network, a mobile firm, pay television in addition to operating a fibre optic backbone network.
Kelsey Homes on Friday announced its intention to invest in excess of Rs.1 billion for its proposed housing project in Templer’s Square, Mount Lavinia.“This promising venture is a large-scale housing project that further enhances the real estate industry in Sri Lanka. The house designs are being prepared by renowned architect, Murad Ismail, whose work focuses on creating spaces sensitive
The Ceylon Chamber of Commerce in association with the Sri Lanka-China Business Council is organizing a Chinese business forum and a networking session with a trade promotion delegation from China scheduled to visit Sri Lanka tomorrow. The delegation will be headed by Cen Hongkai, Deputy Secretary General of Zhongshan Municipal People’s Government,
Hemas Hospital, the only internationally accredited hospital in Sri Lanka recently launched its Haemodialysis operations - the first such facility in the Gampaha district. The new dialysis center is equipped with Fresenius 4008 S Hemodialysis systems and a team of highly trained nurses and medical officers with round the clock support of paramedical staff.
Ceylon Cinnamon, which is Sri Lanka’s second global brand, has secured its trademark in two more leading markets with one more country application in the registration process. “I commend the Export Development Board’s (EDB) Agro division for their efforts on this initiative” said Bandula Egodage (Chairman/CEO, EDB) on Friday.
Colombo is all geared up to host three concurrent textile expos, the 5th International Exhibition on Textile and Apparel Technology, Machinery and Related Services (TexTech 2014), the 5th Colombo International Yarn and Fabric Show, and the 17th Dye and Chemical International Expo, all scheduled to be held from March 6 to 8, at the Sri Lankan Exhibition and Convention Center.
The Colombo Stock Exchange (CSE) and the Securities and Exchange Commission (SEC) in association with the Sri Lanka Association of Software and Service Companies (SLASSCOM) is scheduled to host a forum to educate the IT-BPO and Knowledge Services industry on the importance of going public.
Expanding a long-standing partnership with Malaysia Airlines, SriLankan Airlines last week said it has extended its network in the Australasian Region adding seven new codeshare destinations in Australia, Vietnam and Malaysia.To cater to growing demand between Australia and Sri Lanka, SriLankan Airlines will provide daily services to Adelaide, Brisbane and Perth via Kuala Lumpur.
In tribute to the medical professionals for their efforts in developing a nation of healthy citizens, Sri Lanka Insurance launched a special motor insurance package for all members of Government Medical Officers Association recently.Under this special Motor Insurance Cover member doctors can now obtain special discounts on Insurance Premiums
Vijitha Yapa was elected Chairman of the Afro Asian Book Council (AABC) last week at the AGM of the organization held in New Delhi during the World Book Fair 2014. He is the first Sri Lankan to hold this post.Yapa is currently the President of the Sri Lanka Book Publishers’ Association and Vice President of the Asia Pacific Publishers Association.
John Keells Holdings was adjudged the country’s most transparent and accountable business entity when it bagged the Overall Winning Award at the annual ACCA Sri Lanka Sustainability Reporting Awards, with Diesel & Motor Engineering PLC (DIMO) coming in as the overall Runner-up.
Triumph Sri Lanka recently felicitated the top performers at the Triumph Sales Conference 2014 which was held in Colombo. The conference carried a Rio carnival theme which was vibrantly colourful. Over 500 people including the direct dealers, wholesale partners, dealers, key account partners and important stakeholders participated. Here individual and category award winners at the conference are seen in a…
Saatchi & Saatchi Sri Lanka recently appointed the globally-acclaimed Carlos Anuncibay as its new Executive Creative Director. Anuncibay brings a wealth of experience to the agency having worked at Saatchi & Saatchi London and then Spain for almost nine years. He has also served as both President of the Advertising Press Awards Jury in Spain and President of the Outdoor…
Tea exports for the month of January 2014 totaled 21.8M/kgs vis-à-vis 22M/kgs of 2013, showing a marginal decrease of 0.2M/kgs. In value terms, however, total revenue Rs.15.1bn has shown a growth of Rs.2.3B vis-à-vis 12.8bn of 2013. Tea in bags have shown a growth in volume YOY, whilst tea in bulk and tea in packets have shown a decline in…
Economic Development Minister Basil Rajapaksa opened the first Community based Bank established by the Divi Neguma Development Bank at Meegahakotuwa, Kuliyapitiya last week.Accordingly 322 Samurdhi Associations and 1,074 Samurdhi Banks in 14,023 grama seva divisions of the island’s 25 districts will be turned into Community-based Banks in future.
With the island’s monetary watchdog recently setting the master plan towards the consolidation of the country’s financial sector, experts at a panel discussion last week suggested that the sector will be faced with numerous practical issues with some needing further clarity from the regulator. Outlining the challenges, Shiluka Goonewardene, Principal for Transactions and Restructuring at KPMG in
For the first time in the history of Sri Lanka, Micro Car Company has started transporting cars from its factory at Polgahawela to the Main Showroom in Colombo on December 5, 2013 by trains. The company which commenced this initiative recently plans to extend the method of transport to showrooms in other main cities. Pictured are the first few cars…
Opposition Member of Parliament Eran Wickramaratne recently called on the government to investigate the banking regulator, the Central Bank over its failure to take necessary action as there had been reports that the regulator had prior knowledge of the vulnerability of the now troubled Central Investments and Finance Plc (CIFL).