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Business

Colombo Port City
Special Economic Zone Bill to be enacted soon
Commission to oversee operations
The Special Economic Zone (SEZ) Bill will be enacted hopefully by the end of next month under which the Colombo Port Commission will be set up to oversee operations, market and position the Port City to be a competitive investment hub in the region, a top official overseeing the operations of the Colombo Port city project told Sunday Observer Business last week. “The...
24 January, 2021
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Boosting financial inflows
CB, Govt to explore avenues
The Government and the Central Bank will continue to explore avenues to increase financial flows to the country that will boost the level of official reserves to support economic growth, said Central Bank Governor Prof. W.D. Lakshman at a virtual media briefing on the Monetary Policy stance of the bank last week. He said discussions with domestic and foreign counterparts...
24 January, 2021 0
Country’s reserves in a comfortable position – Treasury Secretary
The country’s gross official reserves are in a satisfactory position and the government is comfortable with the current amount of reserves, said Treasury Secretary S.R. Attygalle responding to the need to seek funding from a multilateral donor to boost reserves. “We are quite comfortable with the level of reserves which will grow this year with exports picking up and...
24 January, 2021 0
SriLankan to explore new destinations
Plans to launch flights to Moscow mid next month
SriLankan Airlines will fly to new destinations starting with Moscow around mid next month as the demand rises in the travel sector, Tourism Minister Prasanna Ranatunga on Thursday told the media in Colombo at an event to mark the re-opening the country for foreign visitors. Sri Lanka opened borders on Thursday for international travellers after a ten-month closure of...
24 January, 2021 0
DFCC Bank to support key sectors to expand business
DFCC Bank has identified key sectors to support them in their business expansion through credit schemes which in turn will help revive the economy, said DFCC Bank CEO Lakshman Silva in an interview with Sunday Observer Business on Friday. “The Bank has identified these sectors and senior officials are spearheading the program to support these sectors which play a pivotal...
24 January, 2021 0

Business

Bitcoin tumbles below $30,000
Bitcoin tumbled below $30,000 on Thursday, as the cryptocurrency continued its 2021 slide after quadrupling in value last year....
Work continues despite pandemic
The Colombo International Financial City, an iconic project that is slated to change the landscape of the country will accelerate...
Covid-19 to fuel malnutrition in Asia and the Pacific
The economic impact of Covid-19 on the world’s most populous region is threatening to further undermine efforts to improve diets...
Beware of online financial frauds, scams
The Central Bank has received information regarding several types of financial frauds and scams being operated through social...
Inflation drops in December
Headline inflation as measured by the year-on year (Y-o-Y) change in the National Consumer Price Index (NCPI, 2013=100) decreased...
Are you a victim of favouritism?
It’s hard enough to be successful and work your way up in your career. Now imagine you do everything right and outperform all...
Reflecting reality through research
Management and leadership in focus
We are in the midst of challenges and opportunities with COVID19 as a nation to move ahead in solidarity with strategic aims....
Pandemic has created new opportunities - CASL President
National Conference of Chartered Accountants
The 41st National Conference of Chartered Accountants was held from January 18-20 at the Shangri-La Hotel, Colombo.State Minister...
Social media engagement in marketing
Last year was a nightmare for marketers all over the world including those in Sri Lanka. With trade activities down the lowest...
Human-elephant conflict:
Can insurance help affected communities?
In 2019, Sri Lanka recorded the highest reported elephant deaths and second highest number of human deaths in the world due to...
SLT-Mobitel to provide connectivity solutions for microbusiness
SLT-Mobitel will launch the ‘Power to Your Dreams’ campaign to provide the latest connectivity solutions to microbusinesses...
Two Aitken Spence companies rank in the top 10 Most Awarded by LMD
Aitken Spence PLC and the Aitken Spence Hotel Holdings PLC emerged in the top 10 Most Awarded by LMD. Aitken Spence is the only...
People’s Leasing offers relief to Covid-hit customers
People’s Leasing & Finance PLC (PLC) has offered concessionary interest on loans and leases to over 75,000 customers,...
Vindya Perera, Best Entrepreneur 2020 - Sabaragamuwa Province
Brilliant Cuts (Pvt) Ltd has been introducing a new outlook to the Sri Lankan lapidary industry under the unconventional creative...
SLT-Mobitel powers ‘Park & Ride’ bus service
SLT-MOBITEL has teamed up with the Sri Lanka Transport Board to provide wi-fi connectivity and branding to the new ‘Park and Ride...
IFC lends US $ 25 m to NTB to support businesses
IFC, a member of the World Bank Group, is providing a $25 million loan to Nations Trust Bank (NTB) to provide improved access to...
Swadeshi launches new herbal baby soap
Swadeshi has launched its newest herbal soap for babies based on lush ingredients of a super fruit in the world. Swadeshi’s...
Everyone knows HR
GRI launches phase 2 of $100 m project
GRI laid the foundation stone for the second phase of a US$100 million project with a new manufacturing facility in Badalgama...
Manufacturing expands in December
Benefitting from the gradual normalising of economic activities in the country, the Manufacturing PMI continued to increase in...
DFCC credit cards offer financial freedom
DFCC Bank has embarked on an aggressive card issuing and acquiring journey through the use of new technology and innovative...
Sterling Automobiles launches loyalty program
Teams up with HNB
Sterling Automobiles Lanka has teamed up with Hatton National Bank (HNB) to launch the Steorra loyalty program.Sterling...
Are teal sapphires the next big thing?
Aaraa & Aati offers Birds Eye collection
Aaraa & Aati – Sri Lanka’s home-grown luxury jewellery brand – has recognised the new entrant in the gem trade that others in...
RPCs final proposal for plantation workers
* Reiterate commitment to providing a sustainable future for every plantation worker, * Urge all stakeholders prioritise the financial sustainability of the entire plantation industry
A final proposal has been submitted by  Regional Plantation Companies (RPCs) to ensure a sustainable earning model for...
oDoc provides online healthcare services to organisations
oDoc, one of the first companies to launch a healthcare app in Sri Lanka, has taken the venture one step further offering premium...
SDB Bank implements digital signature process
SDB bank pushed ahead with its program of digital advancement with the introduction of a fully-digital loan agreement signing...
Employ quality people to exceed targets
Quality is defined as, “The standard of something as measured against other things of a similar kind”; “The degree of excellence...
Royal Nursing Home to invest $ 7.5m in luxury elders’ home
Royal Nursing Home (Pvt) Ltd which introduced a luxury elders’ home in 2007, plans to invest US $ 7.5 million to build a six-...
George Steuart commences restoration of centuries old artifacts
George Steuart & Co has launched a project to restore a repository of artifacts that trace back to its founding in 1835 and...
Oppo launches Oppo A15
Oppo has launched the newest Oppo A15 in Sri Lanka. Equipped with AI Triple Camera and 6.52” big screen, Oppo A15 lets one...
Weekly Performance of Indices
Tea market report
Money market (Week ended January 22, 2021)
In the Forex market, The USD/Re. rate on spot next contracts was seen depreciating further during the week to close the week at...
Government Securities Market (Week ended January 22, 2021)
The secondary bond market closed the week ending January 22, 2021 on a bearish sentiment despite commencing and gliding through...
The Bourse Weekly Performance
Dialog Enterprise Cloud Receives the First VMware Cloud Verification Status in Sri Lanka
Making its mark as the first VMware Cloud Provider in Sri Lanka, Dialog Enterprise, the corporate solutions arm of Dialog Axiata...
A new tyre factory in Horana
Chairman, Ferentino Tyres, Nandana Lokuwithana explains a point to President Gotabaya Rajapaksa at the opening of the factory in...
Global chip shortage hits carmakers
London (CNN Business) - The world’s largest carmakers are facing a critical shortage of semiconductors that threatens to...
New lockdowns imperil global economic recovery
A major chunk of the global recovery in companies’ earnings – recovery expected in the first quarter of 2021 – is at risk of...
Asia-Pacific stocks mixed
SINGAPORE — Stocks in Asia-Pacific were mixed in Thursday trade as investors await the release of Chinese trade data for December...
Cutting expenses to excel in difficult times
If there is a silver lining to any form of crisis, it’s that it really focuses a business leader’s attention on better cost...
Clearing the hiring hurdles
In an increasingly competitive world, people have become a cutting-edge factor. Is it simply any people or the right people?...
CSE’s performance boosts investor confidence
The consistent growth in the levels of activity and overall performance of the Colombo Stock Market over a period of nine months...
Effective communication in marketing
The essence of marketing is the development of long-term and value-laden relationships with customers. Almost all successful...
Call to change social perception of businessmen
Hora (thief) is a well-established nickname for certain entrepreneurs in our society. Although a handful of businessmen may fit...
Port City attracts world’s top investor
World renowned financier and a member of Rothschild family, Nathaniel Rothschild who arrived in Sri Lanka on a brief business...
DIMO – Overall Winner at CMA Reporting Awards
DIMO won the Overall Winner award for the sixth consecutive year, at the 2020 edition of the “CMA Excellence in Integrated...
Private hospitals committed to provide safe health care services
The Association of Private Hospitals and Nursing Homes (APHNH), the apex body representing all private hospitals and nursing...
Pelwatte Dairy’s festive season campaign concludes
Pelwatte Dairy Industries launched a Facebook campaign titled ‘Spread Seasonal Joy with Pelwatte’ to treat customers to seasonal...
Poco M3 launched in Sri Lanka
Smartphone brand Poco launched Poco M3 in Sri Lanka last week. It has a 48MP triple camera setup, 6,000 mAh battery, a beautiful...

Advertorial

BMICH remembers founders
The BMICH organized a religious event followed by a blood donation campaign recently in commemoration and...
ReeBonn Lanka partners Sri Lanka STC to launch ‘STC’ brand
ReeBonn Lanka (Pvt) Limited partnered with Sri Lanka State Trading (General) Corporation (STC) to manufacture...
Hayleys Solar to install solar system at Fantasia factory
Hayleys Solar was commissioned to install a roof mounted solar system solution with a capacity of 914 kWp at...
Cenmetrix Sri Lanka wins RFID software project for client in USA
Cenmetrix was recently awarded a project to develop a RFID document management software solution for a large...
The truth behind the rumours on Facia
Alaris Lanka Pvt Ltd conducted a press conference recently to explain to the media regarding the false...
Café Kai introduces new range of cakes
Café Kai at Hilton Colombo has introduced 11 types of new cakes.Each of these baked treats has not only...
Seylan’s Pothuvil branch moves to new location
Seylan Bank, the Bank with a Heart, recently relocated its Pothuvil Branch in order to provide superior...
Ceylinco Life’s 2019 Annual Report ranked among 10 Best Integrated Reports by CMA
Ceylinco Life’s 2019 Annual Report was ranked among the 10Best Integrated Reports at the 6th edition of the ‘...
Siyapatha Finance expands horizons with two branches
Celebrating their 15th Anniversary, Siyapatha Finance PLC, licensed and regulated by the Central Bank of Sri...
People’s Merchant Finance Kurunegala branch relocates
People’s Merchant Finance PLC relocated its Kurunegala branch to a more conveniently accessible location No....
Parking in the hub of Colombo with ‘Hydeparking’
Parking in Colombo is a key pain-point for all vehicle owners and drivers who need to come in-to the city....
ComBank ends centenary year with notable achievements
The Commercial Bank of Ceylon provided new concessionary lending of nearly Rs 30 billion in 2020, its...

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