Lankan banks tighten defences against cyber attacks

Despite Sri Lanka currently not being in a state of war and not facing foreign invasion, the country is ceaselessly engaged in cyber warfare, and a gap in the lines may bring the country’s economy to its knees, Central Bank Governor, Ajith Nivard Cabraal said.

High bank borrowing rates and entrepreneurship

It was with lot of interest I went through the recently issued IPO prospectus of Lucky Lanka Milk Processing Company Ltd (“Lucky Lanka”). My interest in this company was not only because I am a consumer of Lucky Lanka products, but because this company is often referred to......

New entrant Cargills Bank already in merger talks

Cargills Bank, which officially opened its doors to the public yesterday, said it is currently negotiating with a company engaged in finance and leasing businesses under the finance sector consolidation process set in motion by the Central Bank.

Lanka Factory Index improves despite cost pressures

Sri Lanka’s manufacturing signalled an expansion in the first quarter despite cost pressures, while the country’s global competitiveness ranking has moved up by three notches. “The Factory Industry Production Index that stood at 106.4 this January strengthened and by March.....

The hand that rocks the cradle rocks in China

In traditional China, women have always taken a back seat. Sons have been preferred over daughters. Recognized as a global powerhouse of economic growth, as China hits the 21st century, the status of women there seem to be changing; from one in which women took a back seat to men........

Global medical equipment supplier mulling Lankan entry

A leading global electrosurgical gear maker with nanotech capacity is exploring Sri Lanka’s healthcare sector for entry. “We are gold standard in terms of electrosurgical gear and operating theatre equipment.

Adverse economic impact of ethno-religious violence

Political stability and social harmony are crucial for creating a conducive enabling environment for sustained development and upliftment of the lives of all Sri Lankans. Any instability on these fronts has serious adverse implications for development.

Consolidation and cohesion seem to be talk of the town

Nearing mid-year 2014, the Colombo Stock Exchange (CSE) has gained 5.6 percent with the All Share Price Index (ASPI) advancing by 352 points. Despite marginal volatility, the activity levels or more commonly described based on average daily turnover has been maintained above the Rs.1 billion mark.

MAS bags US $ 28mn IFC loan

IFC, a member of the World Bank Group, will lend US $ 28 million to the Sri Lankan apparel manufacturer MAS Capital (Pvt.) Ltd and its subsidiaries to support the group’s expansion and innovation plans.

EDB begins work on newest global market Fairtrade call

As Fairtrade becomes the latest sales driver in international markets, Sri Lanka has stepped up its efforts to meet the new standard. A promising Lankan export niche has become the successful testing ground for Sri Lanka’s entry into global Fairtrade certification regime......

The need for reliable tourism-related statistics

International inbound tourists (overnight visitors) are the number of tourists who travel to a country other than that in which they have their usual residence, for a period not exceeding 12 months and whose main purpose in visiting is other than an activity remunerated from within the country visited.

Insurance industry sustains growth in 2013

Sri Lanka’s insurance industry sustained its growth during the year 2013 with the overall gross written premium (GWP) growing 8.39 percent year-on-year (YoY) and the total assets increasing 12.9 percent YoY, the Insurance Board of Sri Lanka (IBSL) said.

Problem-solving teams – Best tool for gaining workplace productivity

Last week we were talking about problem-solving teams. We noticed that these teams are temporary and short-term, focussed on one problem, meet occasionally for short periods of time, are cross-functional and comprise only a few members with relevant skills.

Unit trust: An alternative method of investing in stock market?

Many investors have shown great interest in investing in the Colombo Stock Exchange. However, there may be some investors who don’t have time to follow the market as well as their investment. Today’s article will suggest an alternative method of investment for such individuals.

HSBC upbeat on Lankan growth trajectory

The global banking giant HSBC has put Sri Lanka back in its good books over her accelerated macro-economic growth driven by supportive monetary policy and rise in exports, booming tourism, construction and manufacturing sectors and the perking up of capital market.

Asia shares mixed after US record, dollar dips

Asian shares were mixed yesterday, following another record close on Wall Street, while the dollar faced some downward pressure after the US Federal Reserve indicated interest rates would stay ultra low into next year.

Propelling Sri Lanka as a knowledge hub



A knowledge hub is a location where you can source skills and capabilities for the creation of products, services, knowledge and also for the creation of wealth. Some countries have targeted industries so that the country and the economy will be known for a particular industry. For instance:

Starting your own business with a friend?

Some of the world’s greatest entrepreneurial ventures have been started by friends. Steve Jobs and Steve Wazniak were friends who started the story of Apple in the home garage. Many other business legends also chose the same route. Entering entrepreneurship with a close and trusted friend is....

Southern unrest shatters middle east tourist confidence

The recent unfortunate incidents that erupted in Aluthgama and Beruwala areas will have an adverse impact on the country’s tourism sector in the backdrop of Middle East being the fourth largest inbound tourist market for Sri Lanka, according to tourism industry stakeholders.

Sri Lanka can be integral part of Asian transformation: ADB Chief

Following is the speech by Asian Development Bank (ADB) President Takehiko Nakao themed “Chance of Sri Lanka  to Be the Next Asian Miracle”, delivered at the Academy of Financial Studies (AFS) conference in Colombo recently.

Policy rates unchanged; April credit growth at 3.3%

The Monetary Board of the Central Bank yesterday decided to maintain the policy rates unchanged for the month of June despite the private sector credit growing at a slower pace of 3.3 percent in April, compared to 4.3 percent in March.

Will your new hotel pass the ‘crash test’?

Most people think that money alone is enough to ‘start’ a hotel. They fail to realise that they need more than that. Unsurprisingly, the ‘ending’ often turns out to be disappointing and an unhappy one at that! Such people may have a subjective, emotional or personal reason...

Can smartphones be used to increase productivity?

Smartphones, a common tool that many of us use not only for phone calls but also for various activities like surfing the Internet, listening to music and watching movies perhaps. Today, the world is in your fingertips due to the smartphone technology.

Global warming continues to be a serious global issue

Global warming has become perhaps the most complicated issue facing world leaders. Warnings from the scientific community are becoming louder, as an increasing body of science points to rising dangers from the ongoing buildup of human-related greenhouse gases.....

Economic transition presents insurance players opportunity

The period of transition Sri Lanka’s economy is currently in where low interest rates and single digit inflation is factoring in, presents the country’s insurance industry immense opportunity to grow their business and introduce new products, Central Bank Governor Ajith Nivard Cabraal said.

SL apparel industry in a global context and future fortunes

The Sri Lankan apparel trade today is well renowned around the world to be the most cutting-edge and innovative when it comes to apparel manufacturing.

Skills and competencies CEOs must possess

Generally, CEOs in Sri Lanka are selected based on their branch of learning and because they know how to meet customer demands, by building disciplined operational skills through understanding systems, and by ensuring financial rigor through implementing financial controls.

Hemas exiting power business?

Market speculation is rife that Sri Lanka’s diversified Hemas PLC may exit from power business or trim its exposure to the sector in order to focus more on its core businesses, FMCG and pharmaceuticals, while aggressively expanding its leisure sector operations, Mirror Business learns.

Involving employees – Making best use of wisdom of teams

Smart organisations involve their employees in running the business. The idea that staff turn up for work, hang their brains up near the front door, do a day’s work and then pick their brains up on the way out, was abandoned long ago by most organisations.

Stock-picking strategies

Here is a breakdown of some of the numbers value investors use as rough guides for picking stocks. Keep in mind that these are guidelines, not hard-and-fast rules: