Thursday, 24th April 2014

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Business news

The Central Bank of Sri Lanka is planning to carry out an independent survey among the business community to obtain an overall understanding of the sentiments of business executives in Sri Lanka. This survey is similar to the survey which produces the primary data source for compilation of the Global Competitiveness Index (GCI) and several other indices which extract information
Full Article Sunday, 20 April 2014 00:00
The total number of internet connections in Sri Lanka has seen a sharp growth of 47% in the year 2013 increasing internet penetration (connections per 100 persons) to 9.8 percent, the Central Bank of Sri Lanka said in its 2013 Annual Report. Accordingly, the growth has been largely supported by the accelerated growth in mobile internet connections, followed by the…
Full Article Sunday, 20 April 2014 00:00
President Mahinda Rajapaksa ceremonially opened the Manmunai Bridge in Batticaloa yesterday together with representatives from the Embassy of Japan and Japan International Cooperation Agency (JICA). The bridge, which is the first east-west land connection across the Batticaloa lagoon, has been constructed with Rs. 2 billion grant from JICA. The 210m long bridge enables land access to markets and services in…
Full Article Sunday, 20 April 2014 00:00
A Specialized  Marketing Mission on Construction and Related Services from Malaysia will visit Sri Lanka soon. The mission organized by Malaysia’s External Trade Development Corporation (MATRADE) and facilitated by the Sri Lanka-Malaysia Business Council of The Ceylon Chamber of Commerce arrives in Sri Lanka to explore business opportunities in the country.
Full Article Sunday, 20 April 2014 00:00
New York based global investment banking firm Jefferies last week announced that it is entering into a cooperation agreement with JB Securities (Pvt) Limited to distribute JB Securities equity research on companies in Sri Lanka on a co-branded basis to Jefferies’ global institutional client base.
Full Article Sunday, 20 April 2014 00:00
Bourse rallied ahead during the short trading week as the ASPI crossed the 6,100 mark supported by robust investor activity as it settled at 6,180.76. Colombo bourse closed the trading on Thursday on an upbeat note, recoding gains for the third consecutive trading session. ASI index gained 61.91 index points or +1.01% to close at 6,180.76, simultaneously 20 scrip S&P…
Full Article Sunday, 20 April 2014 00:00
Loyal tea drinkers will be able to entertain their tea-loving friends at the push of a button with the New Zealand launch of Dilmah tea capsules.Available in popular Earl Grey and English Breakfast the new tea capsules are compatible with Nespresso machines and allow for an alternative, and quicker, tea making experience to traditional tea bags.
Full Article Sunday, 20 April 2014 00:00
Luxury cruise liner MS. Amadea called at Magam Ruhunupura Mahinda Rajapaksa Port in Hambantota early this month with 479 passengers comprising 423 German Nationals and 322 crew members. On her arrival an up-country Sri Lankan dance troupe welcomed the passengers. MS. Amadea, equipped with entertainment facilities has a capacity to carry 620 passengers and 260 crew on board
Full Article Sunday, 13 April 2014 00:00
Complemented by sound macro-economic fundamentals, Sri Lanka’s economic growth which slowed to 6.3% in 2012 has picked up by 7.3% in 2013 and is projected to accelerate by 7.5% and over 8% in the years 2014 and 2015 respectively, the Central Bank said last week. It noted that improved macroeconomic conditions, including low inflation, declining interest rates and the relatively
Full Article Sunday, 13 April 2014 00:00
Sri Lanka is planning to invest US$ 10 billion to develop its ports sector in the years leading  to 2020, the Chairman of the Sri Lanka Ports Authority, Dr. Priyath Bandu Wickrama said recently. Addressing a breakfast meeting of the Sri Lanka–Germany Business Council of the Ceylon Chamber of Commerce, the SLPA Chief noted that already, since 2008, the Government…
Full Article Sunday, 13 April 2014 00:00
Swiss cement group Holcim and French rival Lafarge are to merge creating a dominant supplier of cement for concrete to the global construction industry.The deal, described in a statement on Monday as “a merger of equals”, and a major event in the global construction industry, will be based on the offer of one Holcim share for one Lafarge share.
Full Article Sunday, 13 April 2014 00:00
Toyota is recalling 6.4 million vehicles globally, including 35,124 in the UK, over five separate issues. Some 3.5 million vehicles are being recalled to replace a spiral cable attached to the driver’s side airbag. It may be damaged when the steering wheel is turned and result in the airbag not being deployed in a crash.Other issues include problems with seat…
Full Article Sunday, 13 April 2014 00:00
The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) is considering the possibility of propagating its BSc Degree in Applied Accounting among South Asian countries. Speaking during the inauguration of the second intake of the BSc (Applied Accounting) General/ Special degree, CA Sri Lanka President Arjuna Herath said, “We should promote this degree internationally, and as a first
Full Article Sunday, 13 April 2014 00:00
Sri Lanka Telecom (SLT), the national ICT solutions provider announced that it has launched the country’s first fiber-to-the-home (FTTH) broadband services covering major markets, greatly enhancing the broadband footprint in Sri Lanka. Being the largest communication backbone network operator, SLT ensures that residential, business, public sector, carriers and ISPs (internet service providers) in the country including multi-storeyed buildings have
Full Article Sunday, 13 April 2014 00:00
Extending its island-wide footprint further, Lanka ORIX Finance PLC (LOFC) opened its latest branches in Digana and Kuliyapitiya recently.Digana is an emerging economy located in the Central Province of Sri Lanka vastly abundant with natural mineral deposits such as Dolomite, whilst Kuliyapitiya is renowned for agro based economy and crop cultivation in the
Full Article Sunday, 13 April 2014 00:00
Six top students of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) recently bagged the subject prizes at the Strategic Level examinations conducted by the Institute. Aruna Prabath Weerasinghe won the subject prize for Strategic Management Accounting, while Thilini Tharaka Samarasinghe was awarded the prize for Financial Reporting Framework at the Strategic Level I examination which was
Full Article Sunday, 13 April 2014 00:00
The National Insurance Trust Fund (NITF) which provides insurance coverage for over 1.2 million government beneficiaries took a step forward in expanding their services by joining hands with Lanka Hospitals to cover private hospital costs for Agrahara medical insurance beneficiaries. A partnership which has been carried out for the past three years between the two parties was recently extended for…
Full Article Sunday, 13 April 2014 00:00
The Commercial Bank of Ceylon has announced it will keep 62 branches open for business on Good Friday, April 18, 2014, a Public and Bank Holiday, for the convenience of the Bank’s customers.This includes the Bank’s 26 Supermarket Banking Centers and 20 365-day branches which will work their customary hours, and another 16 branches that will be open from 9am…
Full Article Sunday, 13 April 2014 00:00
With the Koha’s (Koel) elusive tune and the beat of the traditional raban, the month of April heralds new beginnings for Sri Lanka! Households get makeovers, old utensils get replaced, relationships renewed and families exchange gifts in the spirit of the traditional Sinhala and Tamil New Year. Arpico Supercentres, the largest chain of hyper markets will join in the celebrations…
Full Article Sunday, 13 April 2014 00:00
An uniquely Sri Lankan celebration, complete with authentic gastronomic delights and cultural performances provided a fitting backdrop when the Commercial Bank of Ceylon marked 10 years of remittance operations in the State of Kuwait recently.Commercial Bank’s Chief Operating Officer Jegan Durairatnam led a Bank delegation that included the Bank’s Chief Manager e-Banking and Remittances Pradeep Banduwansa,
Full Article Sunday, 13 April 2014 00:00

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