SAP Ariba makes procurement a snap for mid-market
When it comes to taming the complexity of procurement, size doesn’t matter. Mid-market companies face the same challenges in managing their spend an...
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Central Bank denies interest rate hike
Rejects media reports, says reserves, inflation and broad money on target No reason to raise interest rates in the near term, advises public no...
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SLT Group ups operating profit by 5.4%, increasing depreciation-hit bottom line
Sri Lanka Telecom (PLC) Group said this week its Operating Profit Before Depreciation and Amortisation (EBITDA) improved by 5.4% to Rs. 21.2 b as a re...
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USAID YouLead and Microsoft Launch YouthWorks to Increase Employment and Entrepreneurship Among Sri Lanka’s Youth
The United States Agency for International Development (USAID) YouLead program and Microsoft Sri Lanka signed a partnership to launch the new YouthWor...
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Sri Lanka mulls globalising of SMEs via highly-active food sector
Ma’s Tropical Food Processing Manager Sarah De Alwis receives the top award for ‘All Food and Beverages’ from Minister of Industry and Commerce ...
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Union Bank posts Rs 782 mn operational profits
Despite the volatile macro environment Union Bank has performed exceptionally well in 2017 resulting in a 35.6% increase in profits from operating act...
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NTB records 31% growth in pre-tax profits
Nations Trust Bank closed the financial year 31st December 2017 with a post-tax profit of Rs. 3,371Mn, up by 18% over the previous year with pre-tax p...
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Sri Lanka, emerging nations faces higher interest rates, tighter global credit: Mangala
Sri Lanka and emerging nations faces tighter credit conditions and higher interest rates, with policy rates in developed nations set to rise faster th...
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Private sector borrowed less in 2017
Private sector credit expands by Rs. 617 b in 2017 but lower than Rs. 756 b in 2016 CB expects status quo to pick up with private sector borrow...
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Ceylinco Life posts net profit of Rs. 6 bn
Sells 126,838 new life policies in the year reviewed Pays out Rs. 6.7 billion in net claims and benefits to policyholders Ceylinco Life has posted net...
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Remove apparel quota to India - Exporters
Sri Lanka Apparel Exporters Association Chairman Felix Fernando requested the Indian government to either improve the existing apparel quota system to...
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Sri Lanka national inflation slows to 5.4-pct in January
Inflation in Sri Lanka, as measured by the National Consumer Price Index (NCPI) slowed to 5.4 per cent in January 2018 from 7.3 per cent in December 2...
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CBSL opposes govt. move to set up hybrid company
Controversial National Payment Platform revived: Many an eyebrow has been raised by a government move to set up a hybrid company as part of the contro...
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Seylan Group ups after tax profit by 24% to Rs. 5 b
In the backdrop of challenging external environment, Seylan Group has reported a resilient performance by recording a profit after tax of Rs. 5.004 bi...
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Sri Lanka, UAE sign MoU on cooperation in labour sector facilitating recruitment of domestic workers
The United Arab Emirates (UAE) and Sri Lanka have signed a Memorandum of Understanding (MoU) to foster cooperation in the labour and manpower fields f...
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COMBANK sets new digital banking record with Rs. 663 b in transactions
A whopping Rs. 662.95 billion was transacted through digital banking channels alone, by customers of the Commercial Bank of Ceylon in 2017. This is t...
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‘Inflation at moderate level, foreign reserve to be above US$ 7 bn’
First Capital Research (FCR) believes inflation rate to moderate, foreign reserve position to be maintained above US$ 7 billion levels. FCR also expe...
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EPF, NSB, SLIC losses due to bond scams exceed Rs. 31 billion
The manipulation of the secondary bond market by Perpetual Treasuries caused three state institutions, Employees’ provident Fund (EPF,) Sri Lanka In...
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EPF gets zero returns from majority of private equity investments
EPF has invested Rs.10.8bn in 7 private equity investments up to 2014 Of that, Rs.9.3bn has not generated any returns to this date Only 2 inves...
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World’s top investment bank Lazard explores SL, works with MTI
Recognised as one of the world’s preeminent financial advisory and asset management firms, 170-year-old Lazard has shown interest in Sri Lanka, with...
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Singer revenue tops Rs. 51.5 billion despite tough business conditions
Singer (Sri Lanka) PLC announced its Group results for the year ended December 31, 2017. The results showed an increase in Group revenue of 9.8 % comp...
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IPS Highlights the Importance of Developing Skills in Sri Lankan Graduates
While Sri Lanka has been performing well at the primary education level, significant policy gaps exist when it comes to secondary and tertiary educati...
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Sri Lanka records highest-ever apparel exports
Sri Lanka recorded its highest-ever level of apparel exports during the year ended 31 December 2017, courtesy of the restoration of the Generalized Sy...
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