IFC partners Brandix to launch South Asia’s first supplier trade finance facility

IFC, a member of the World Bank Group, launched a trade supplier finance facility with leading apparel exporting company Brandix. The first such facility in South Asia, the IFC Global Trade Supplier Finance programme will help Brandix boost international trade opportunities.

LIC eyes life insurance market leadership

LIC (Lanka) Limited, a unit of Life Insurance Corporation (LIC) India, the world’s biggest life insurer sending a strong signal to the market said yesterday that they are to aggressively scale up operations to become the market leader in the life insurance business.

MP Duminda Silva appointed to Touchwood board

Marking another first in the history of the Colombo Stock Exchange, an active Member of Parliament (MP) has been appointed to the board of directors of a listed entity.

Nawaloka Rs 1.5bn debenture issue oversubscribed

Nawaloka Hospitals PLC’s Rs. 1.5 billion rated, unsecured, redeemable debenture issue was oversubscribed yesterday.

Abans Rs 2bn debenture issue rated at 'A-(EXP)'

Fitch Ratings has assigned Abans Limited's proposed issue of senior unsecured redeemable debentures of up to Rs.2 billion, an expected National Long-Term rating of ‘A-(lka)(EXP)'.

‘Scholarship from AIA inspired me to achieve success’- Dr. Heshani Dissanayake

Every year, AIA Insurance presents higher education scholarships to the students who top the batch in each of the 25 districts in Sri Lanka in the year 5 government scholarship examination.  AIA presents scholarships to year 5 batch toppers purely on merit.

Fitch rates Abans's Rs.2bn debentures 'A-(lka)(EXP)'

Fitch Ratings has assigned Abans Limited's proposed issue of senior unsecured redeemable debentures of up to Rs.2 billion an expected National Long-Term rating of 'A-(lka)(EXP)'.

Japanese healthcare info firm buys into E-Channelling

A Tokyo-based healthcare information infrastructure company has bought Sri Lanka’s E-Channelling PLC, a pioneering internet-based doctor channeling business.

Amana introduces Ladies Savings Account

With the aim of providing an opportunity for women to manage their finances effectively and efficiently, Amana Bank has introduced ‘Amana Bank Ladies Savings Account’ targeting the female population of the country.

CIFL depositors reject restructuring

None of the depositors of the beleaguered finance company, Central Investment and Finance Company PLC (CIFL), who met at New Town Hall yesterday, endorsed the Central Bank (CB)-approved restructuring plan, according to the Depositors’ Association.

Lankan corporates still suffering from HPPO syndrome: Google rep

Sri Lankan companies are still highly reliant on Highest Paid Person’s Opinions (HPPOs) and are less driven by data for their decision making, according to a top Google official

Amana Bank Refurbishes Radiology Unit at Cancer Hospital

Amana Bank recently extended its support to refurbish the Radiology Unit of the National Cancer Institute in Maharagama. The refurbishment project was undertaken with the aim of providing an efficient and speedy service to patients.

Thirty-member Sri Lankan delegation for Spikes Asia

The Spikes Asia festival will be held in Singapore from September 15-17, featuring an extensive programme filled with seminars, workshops, academies, networking, awards and entertainment. This event is promoted by Metal Factor and the Association of Accredited Advertising Agencies (4A’S).

Court prevents ex-eSys executive joining competitor

The Colombo Civil Appellate Court issued an order preventing an exemployee of one of Sri Lanka’s leading computer hardware distributors eSys Technologies Lanka (Pvt.) Ltd from serving or joining a competitor.

Amana Bank introduces Easy Payment Plan

Amana Bank recently introduced its very own Easy Payment Plan to facilitate salaried customers to purchase furniture, household and personal appliances in a convenient ‘pay as you use’ mechanism.

CBL to set up manufacturing plants in B’desh, Myanmar

Ceylon Biscuit Limited (CBL), the country’s largest manufacturer and exporter of biscuits and confectionary products is in the process of expanding its manufacturing operations to Bangladesh and Myanmar.

Apple tailors two new iPhones for world market

Apple on Tuesday unveiled two new iPhones, fielding a slick new top-end model along with one aimed at budget-conscious smartphone shoppers around the world

AIA Sri Lanka annual report wins another award!

Closely following the success of winning six awards from the League of American Communications Professionals (LACP), AIA Sri Lanka’s 2012 Annual Report has won yet another accolade – a Gold Award under the category ‘Traditional Annual Reports - Insurance Life & Health’

Power Grid seeks ‘viable return’ for India - Lanka undersea link

PTI: Power Grid Corporation is seeking a “viable return” for a proposed undersea transmission cable linking India and Sri Lanka, which has been delayed.

Maruti to decide on starting assembly unit in Sri Lanka

BUSINESS STANDARD: The country’s largest car maker Maruti Suzuki India (MSIL) will take a final decision on setting up an assembly unit in Sri Lanka by the end of the current financial year. The facility, if commissioned, would be the first facility for the small car giant outside its home base in India

CMA to conduct workshop on “GRI New Standards”

The Institute of Certified Management Accountants of Sri Lanka (CMA) has organized a workshop on “GRI New Standards” in association with South Asian Federation of Accountants (SAFA) and Global Reporting Initiative Focal Point India. The workshop will be held on Friday (September 6) form 9.00a.m. – 5.00p.m. at Golden Pond, Hotel Taj Samudra.

Burger King in Sri Lanka

Softlogic Holdings PLC announced a franchise agreement with Singapore-based BK AsiaPac Pte Ltd to develop, open and operate Burger King Restaurants in Sri Lanka.

Amana Bank now in Kinniya

Amana Bank expanded its services to the Trincomalee district with the opening of its 23rd branch at Kinniya recently. With the entry to Kinniya, the Bank expands its presence in the Eastern Province to eight locations.

Discovery Kids launches in Sri Lanka on SLT PEO TV

Sri Lanka, August 28, 2013: Discovery Networks Asia-Pacific (South Asia) announced the launch of its eighth channel - DISCOVERY KIDS - in Sri Lanka.

Harry says Lankan tax policy promoting illegal boozers

Despite the several social and economic hindrance to the illegal alcohol industry growth, the country’s tax policy in fact encourages it which causes the legal, regulated and responsible sector to shrink, charged a top official of a listed distiller.

South Asia Economic Summit kicks off today

Leading socioeconomic experts and influential policy advisors of South Asian countries gather in Colombo today at the start of the 6th South Asia Economic Summit (SAES) kicking off at the Cinnamon Grand hotel.

Sri Lanka launches mega Billboard campaign in Beijing

Sri Lanka Tourism’s novel Joint Mega Promotional campaign named “Sri Lanka Shines in Beijing”, started off in the Chinese capital yesterday with the aim of attracting potential Chinese travelers to Sri Lanka.

Dailymirror Online iphone5 Competition

Eranga Perera receiving the iPhone 5 from Wijeya Newspapers officials Gehan Blok - Head of Digital Media and Umair Wolid -Marketing Manager - Digital Media

Quality check laws on Higher Ed. from 2014

Legislation concerning accreditation and quality standards for higher education institutes operating in Sri Lanka is nearing completion and will be opened to the public by early next year, according to University Grants Commission (UGC) Chairperson Prof. Kshanika Hirimburegama.

Cargills announces major corporate restructuring

Cargills (Ceylon) PLC announced a major corporate restructuring of the group, including the transfer of all retail operations to a new subsidiary, Cargills Food Company (Pvt.) Ltd.