Thilak Piyadigama appointed as SDB bank CEO

The veteran banker counting over 30 years of experience in the industry, Thilak Piyadigama takes over the reins of SDB bank as the new CEO, with effect from March 1, 2019. He has held senior management positions in the banking and technology industries in Singapore, the UAE, UK and Sri Lanka, working for Standard Chartered Bank (SCB) and Nations Trust Bank (NTB).

NCE to conduct ‘Exporters Post-Budget Forum’

The National Chamber of Exporters (NCE), the only private sector chamber that exclusively serves Sri Lankan exporters, will conduct ‘Exporters Post-Budget Forum’ on March 8, 2019, at Orchid Room, Hotel Galadari, from 3:30 p.m. onwards, following the presentation of the annual budget of the government by the finance minister. The forum will address the taxation and fiscal issues related to the budget, their implications on the export sector and

Fitch rates NDB’s Basel III sub debt final ‘A(lka)’

Fitch Ratings has assigned National Development Bank PLC’s (NDB) (A+(lka)/Negative) proposed Basel III-compliant subordinated debentures a final National Long-Term Rating of ‘A(lka)’. The notes, which total up to Rs.6.5 billion with maturities of five years, include a non-viability clause and qualify as regulatory Tier II capital for the bank. The bank plans to use the proceeds to strengthen its Tier II capital base and support loan-book expans

Expert coaching assistance for export SMEs

The International Trade Centre (ITC), headquartered in Geneva, is currently implementing the EU-Sri Lanka Trade-Related Assistance Project, which aims to increase the trade competitiveness of small and medium size enterprises (SMEs) in the regional and European Union (EU) markets. This four-year EU-funded project supports the improvement of SME export competitiveness and value addition in sectors with high potential for economic growth and dev

Hutch signs BOI agreement to invest US $ 115mn

KKS port area to be made vibrant economic hub: PM

Red clay roofing tile industry urges govt. to relax excessive red tape blocking raw material sourcin

Sri Lanka’s red clay roofing tile industry recently urged the government to reduce excessive regulations and procedures in place with regard to sourcing their main raw material—clay— which has hiked the cost production, driving over 200 clay roofing tile plants out of business.

Electricity tariff reduction is cost reflective: energy expert

An independent study carried out by a leading energy consultant with international repute shows that the recently announced electricity tariff reduction is reflective through the reduction in cost of production and thus, could not completely attribute to merely a politically-motivated election goody as claimed by many.

US-SL trade talks open in Colombo

The premier annual trade event in historic US-Sr Lanka relations opened for the 11th time in Colombo yesterday and a top US institution that ensures ‘Made in America’ brand across the world, is renewing its ties with Sri Lanka after more than a decade.

Legacies, clouds and uncertainties

You have now seen the basic numbers from our latest projections in the October 2014 World Economic Outlook released recently. We forecast world growth to be 3.3 percent in 2014, down 0.1 percent from our July forecast, and 3.8 percent in 2015, down 0.2 percent from our July forecast.

Budget 2014 must articulate sound labour market strategy

Treasury Secretary DR P.B Jayasundra last week highlighted the need to brand Sri Lanka as a knowledge destination. The veteran public servant knows very well that the key to improving labour market competitiveness in the economy lies in raising human resource capabilities.........

BOC partners Jaffna railway station reconstruction

After 23-long years of absence from the railways the famous ‘Yal Devi’, the legendary train that linked Jaffna with Colombo,...

Senlanka Destinations, newest addition to Sri Lanka’s travel sector

The newest addition to David Pieris Group of Companies, Senlanka Destinations (Pvt.) Ltd, started its operations, recently at the new DPL Office Complex at No. 1F, Avissawella Road, Wellampitiya.

Norfolk celebrates 20 years of offering quality and safe products to consumers

A joint venture of British and Sri Lankan origin, Norfolk Foods offers quality meat, fish, poultry and vegetarian products. Established in October 1994, the company has catered to the discerning epicurean and offers over 150 products.

Mediafactory group appoints Michael Holsinger as Group COO

The Mediafactory group has appointed experienced industry professional Michael Holsinger as its Group Chief Operating Officer (COO) in a bid to strengthen its growth trajectory and fine-tune synergies among its subsidiary communication agencies.

Hemas to exit power biz in Rs.1.68bn deal

Hemas Holdings PLC yesterday said it had entered into a share sale and purchase agreement to fully divest its shareholding in Hemas Power PLC to a consortium of buyers, consisting of NDB Capital Holdings PLC, ACL Cables PLC and Trydan Partners Private Ltd for a consideration of Rs.1.68 billion—Rs.17.90 per share.

Penalising customer loyalty

There’s a huge reservoir of loyalty floating around out there.  People are loyal to their nation. People are loyal to their president. People are loyal to their political party. People are loyal to their club. People are loyal to their school. People are loyal to their religion.  People are loyal to their job. People are loyal to people.

Markets too do need to take profits

The All Share Price Index (ASPI), which rose to 7,406 points, peaked on October 3, 2010 (the highest the index has achieved since the all-time high in February 2011) and started to take a breather in the subsequent days.

Chinese tourist arrivals reach milestone

Lanka ceremonially welcomed the 100, 000th Chinese tourist to the country in 2014, at the Bandaranaike International Airport on Saturday.

Successful leadership begins with a clear and compelling vision

We have seen how successful leaders have mastered the art of self-leadership. They are authentic, reliable, fair and trustworthy and also compelling. Such leaders have also taken time to crystallize a personal vision of the future, which will become the foundation or cornerstone for a shared vision.

Are you a wise investor?

Sri Lanka’s economy is growing steadily and recorded a gross domestic product (GDP) of 7.8 percent p.a. at the end of the second quarter this year. An improving external environment, higher investments and a recovery in domestic consumption, all indicate even better prospects for the country.........

President rings bell to kick off capital market conference

Sri Lanka hosted its first post-war capital market conference yesterday at the Cinnamon Lakeside Hotel. Here President Mahinda Rajapaksa...

Bad weather elevates local rubber prices despite global downturn

Local rubber prices remain significantly higher than the steadily decreasing global prices, due to recent adverse weather and healthy local demand.

Young CEO takes jab at Lanka’s risk-averse culture

Failure to encourage creative spirits, culture of risk averseness, old school banking system and the lack of a supportive eco-system hold back the emerging...

How smartphones are ruining relationships and work ethics

It is no secret that our habits, whether at work or leisure, have been transformed overnight with the arrival of the smartphone.

PB asks pensioners to invest in capital market

The country’s Treasury Secretary yesterday asked the pensioners who live on interest received on fixed deposits to invest their money in the stock market as going...

Faith tourism

Despite bad weather in the capital Colombo, Buddhists belonging to all races gathered yesterday at temples to celebrate the Vap Full Moon Poya day.

Marina sponsors ‘Fun Run’ charity programme

The Fun Run charity programme organized by Hilton Colombo Residence (former JAIC Hilton) for the ninth successful time in the city of Colombo recently was sponsored by Cherubium Lanka.

TGI FRIDAYS ushers in world’s top funfair “Oktoberfest’ to Colombo

TGI FRIDAYS is painting Colombo Fort, Blue and White as it welcomes the ‘Oktoberfest’, world’s largest funfair.

D P Jayasinghe Piling selected main piling contractor for TATA-funded project

D P Jayasinghe Piling Company (PVT) LTD, a leading entity in the construction industry was selected as the main piling contractor for the TATA...