DFCC Vardhana Bank upgrades its operations in Gangodawila

DFCC Vardhana Bank (DVB), Sri Lanka’s fastest growing commercial bank, recently upgraded its extension office which is located at 601/1 High Level Road, Gangodawila into a fully-fledged branch. The ceremonial opening of DVB’s new branch office was attended by Lakshman Silva, Director/Chief Executive Officer, DFCC Vardhana Bank, DVB’s senior management and staff as well as businessmen and members of the local community. 

Brokers vie for glory at ATL’s ‘Broker Bowling Championship – 2015’

Amãna Takaful (ATL) recently hosted its network of insurance brokers for an evening of fellowship at the ‘Broker Bowling Championship – 2015’ which took place at Excel World - Colombo 10. Many insurance brokering companies participated in the event which was conducted for the third consecutive year. This year’s championship was highly anticipated and provided ATL and the insurance brokering community with an opportu

International fashion experts to speak at CFW Fashion Workshops

HSBC Colombo Fashion Week (CFW) hosted at the Hilton Colombo, invites international fashion experts from important markets to speak at CFW Fashion Workshops. The selected speakers will provide Sri Lankan designers with valuable insights and knowledge of the world of fashion. CFW, the backbone of the Sri Lankan fashion industry, focuses on promoting local designers in key international markets and will host two workshops on public relations (PR),

CFW Fashion Design Fund to support most impressive ‘BrightSpark’ designer

HSBC Colombo Fashion Week (CFW) established the CFW Fashion Design Fund in 2014 to financially support the most impressive young designer who is a participant of the ‘BrightSpark’ Shows. Each year one up-and-coming designer with high potential is selected and given funding to kick-start his/her fashion career. CFW, hosted at the Hilton Colombo, provides a rare opportunity for aspiring designers to showcase their creative talent at the

Sri Lanka needs sensible regulation to keep tourism investments flowing: Hiran

?Foreign investors will not tolerate the treatment the domestic investors have been receiving from the public sector, according to a top figure in the tourism industry, who was speaking at the Sri Lanka Law Summit yesterday.

President orders probe into controversial bond sale

President Maithripala Sirisena has instructed his Secretary to set up a three-member committee to probe into the irregularities that were said to have taken place during a 30-year bond sale by the country’s Central Bank.

Public sector culture should change to adapt RIT Act: Eran

?The organisational culture of the country’s public sector must change to accommodate the upcoming Right to Information (RTI) Act, according to Highways and Investment Promotion Deputy Minister Eran Wickramaratne...

Shares fall to over 1-mth closing low on higher rates

?REUTERS: Sri Lankan stocks fell to a more than one-month low yesterday, losing for a sixth consecutive session, as investors stayed on the sidelines amid rising interest rates and political uncertainty ahead of parliamentary elections.

Rupee steady; downward pressure seen easing

REUTERS: The Sri Lankan rupee ended steady yesterday on moral suasion by the Central Bank, with the market expecting downward pressure on the currency to ease due to higher government borrowing amid rising interest rates.

Tobacco use growing despite dip in cigarette sales: CTC

?Despite a visible reduction in sales volumes of Ceylon Tobacco PLC (CTC), which holds a monopoly in cigarette manufacturing and distribution, the tobacco consumption is growing in Sri Lanka, a top CTC official said.

Property tycoon S.P. Tao conferred Outstanding Business Pioneer Award

?Visionary property tycoon Shing Pee Tao was honoured and conferred the prestigious Outstanding Chinese Business Pioneer Award by the Singapore Chinese Chamber of Commerce and Industry (SCCCI) for his spirit of entrepreneurship and charity.

Swiss Ambassador visits Baurs’ factories

?Switzerland Ambassador Heinz Walker-Nederkoorn and Senta Walker-Nederkoorn visited Baurs’ factories and facilities.  Baurs was established in 1897 by Alfred Baur and the company celebrates its 150th birth anniversary this year.

Pinnacle Awards recognizes exceptional trade employees, distributors

?Pinnacle Awards 2015, an awards show to recognize and celebrate outstanding Trade Marketing Executives (TMEs) and distributors of Ceylon Tobacco Company PLC (CTC) was recently held at Hilton Colombo amidst its employees and other invitees. 

‘Mr. Robbialac’ promo to offer free paint this New Year

?Lankem Paints Ltd, manufacturers, marketers and owners of the international flagship brand Robbialac, treats its customers islandwide with a novel pre-Sinhala and Tamil New Year promotion.

Dileepa Wijesundera assumes duties as new SLT Group CEO

?Making an announcement with regards to the recent change in leadership at Sri Lanka Telecom (SLT), SLT Chairman P.G. Kumarasinghe Sirisena stated, “Sri Lanka Telecom is the premier ICT solutions provider to the nation and plays a pivotal role in spearheading the digital revolution of our country.

Union Assurance records steady growth at end-2014

?Union Assurance PLC (UA), a leading player in the Sri Lankan insurance sector, recorded steady growth in combined gross written premium (GWP) and profits as at the end of the fourth quarter of 2014.

KIDZ PLANET – Specialized skills and activity center

How about picking up a new skill and hobby this year? Step outside your comfort zone this year and try something totally new! When was the last time you tried something for the first time?  Develop speaking skills and confidence in young students.

Hilton Colombo features a specially designed fashion environment at HSBC Colombo Fashion Week

Hilton Colombo celebrates the sixth year of its collaboration with HSBC Colombo Fashion Week (CFW), with a specially designed fashion environment called the Fashion Village. The Hilton Colombo is also participating in an exciting segment of the ‘Fashion+Food’ programme redesigning its Il Ponte restaurant as a Fashion Café during the CFW Spring/Summer 2015 Show. The Fashion Café will feature chefs from the Hilton Colombo

American & Efird Lanka named winner at Sustainability Reporting Awards

American & Efird (A&E) Lanka, a fully owned subsidiary of one of the world’s premier industrial sewing thread manufacturer American & Efird LLC, USA, once again was lauded and recognized for its continuous transparency and accountability when it emerged as an overall winner in the General Services and Utilities sector at the ACCA Sustainability Reporting Awards.

Listed entities’ profit growth slows in December quarter

?The Colombo stock Exchange (CSE) listed entities saw their overall profits for the quarter ended December 31, 2014 (4Q14) slowing down to 9.3 percent year-on-year (yoy) to Rs.56 billion after growing 52.8 percent yoy in the third quarter, an independent research company said. 

Sri Lanka Tourism and SriLankan launch joint promotion

?Sri Lanka Tourism and SriLankan Airlines have agreed for a mutually beneficial joint marketing programme at a meeting at ITB in Berlin.  Sri Lanka Tourism last week entered into a promotional tie-up with Sri Lanka Tea Board worth Rs.1 billion.

Answer to labour scarcity lies within: economist

?Shifting of large surplus labour in low productive agriculture, state-owned enterprises (SoEs) and the public sector could address the private sector’s cry for want of labour, according to a veteran economist. 

February tourist arrivals up 17%

?Sri Lanka’s tourist arrivals in the month of February rose 16.7 percent year-on-year (yoy) to 165, 541, amid a surge in Chinese tourists, the data released by Sri Lanka Tourism Development Authority showed.

Sri Lanka-EU trade tops US $ 5 billion

?Sri Lanka’s bilateral trade with European Union (EU) topped US $ 5 billion mark for the first time in country’s trade history, Industry and Commerce Ministry said.

Current situation of RE60's entry to the Lankan market

The simple, effective and immediate solution for the high rising cost of fuel, the new Bajaj four-wheeler, RE60 is yet to make its presence in Sri Lanka. The eco-friendly budget car is the first four-wheeler developed by Bajaj.

Market misconduct investigations to restart: Thilak

Capital market regulator, the Securities and Exchange Commission (SEC) will revive the investigations against the alleged capital market offenders involved in pumping and dumping of shares, leaving thousands of innocent retail investors destitute during 2010 and 2011, the re-appointed Chairman, Thilak Karunaratne said.

Central Facilitation Agency to make Strategic Projects Act redundant

The Board of Investment’s (BOI) new one-stopshop would make last year ’s Strategic Projects Development Act irrelevant and create an investor-friendly environment, according to Deputy Minister of Investments Promotions Eran Wickramaratne.

DSI holds dealer conventions and felicitates dealers in Matale, Kandy and Kurunegala

DSI recently held two Dealer Conventions to felicitate its dealers in Matale, Kandy and Kurunegala out of its network of more than 3,800 dealers from around the country. The company believes in maintaining strong relationships with the dealers and in appreciating them for their commitment and dedication to the DSI brand and to D. Samson & Sons (Pvt) Ltd. It is only through strong ties with the dealers that the company will grow, from revenue

The cricket fun continues with Prima KottuMee “Hot n Spicy Kricket”

Prima KottuMee is celebrating the cricket season with Prima KottuMee “Hot n Spicy Kricket.” This latest addition to the KottuMee promotional campaign is a fun and sporty option for the youth who love cricket. Prima KottuMee “Hot n Spicy Kricket” is holding a promotion to celebrate cricket fever, from 14th February to 31st March, 2015.

Hameedia launches special promotion to celebrate the Cricket World Cup

Continuously setting the benchmark in the fashion industry, Hameedia, Sri Lanka’s leading menswear specialist has joined the Cricket World Cup hype with an exciting promotion on all Signature branded items. As part of the promotion, customers purchasing two shirts from the Signature range will get a free branded mug and customers purchasing three shirts will get a free branded umbrella. The promotion will be running throughout the entire du