Ceylinco Life’s Upamalika Ratnayake is Female ICT Leader of the Year

Published : 12:27 am  September 25, 2013  |  Category: HR  |  Leave a Comment  |  953 views  |  

Ceylinco Life Chief Information Officer and Senior Deputy General Manager ICT Upamalika Ratnayake has been honoured as Sri Lanka’s ‘Female ICT Leader of the Year’ by the South East Asia Regional Computer Confederation (SEARCC), a forum of national information technology professional societies in the Asia Pacific region. The prestigious award was presented to Ratnayake at the 2013 SEARCC International Conference in Colombo by Minister of Technology, Research and Atomic Energy Patali Champika Ranawaka. Commenting on this achievement, Ceylinco Life Managing Director/CEO R. Renganathan said: “Upamalika Ratnayake has given leadership to many innovative and pioneering IT-related developments... 


Pakistan to borrow $625 m from consortium of banks to halt rupee slide

Published : 12:21 am  September 25, 2013  |  Category: Financial Services  |  Leave a Comment  |  535 views  |  

Reuters: Pakistan will borrow $625 million from a consortium of seven local and foreign banks to boost reserves and stem a slide in the rupee currency, a senior finance ministry official said on Tuesday. “Talks with the banks have been taking place for the past few months. Initially they were offering a loan with a 7.77 interest rate, but it was negotiated to 5.75 percent for one year,” the official, Rana Asad Amin, told Reuters. Pakistan is desperate to boost its foreign exchange reserves, which were $10.374 billion in the week ending September 13. The rupee has lost nearly 7 percent of its value against the U.S. dollar since the new government of Prime Minister Nawaz Sharif came to power... 


Rupee ends weaker on importer dollar demand

Published : 12:20 am  September 25, 2013  |  Category: Financial Services  |  Leave a Comment  |  501 views  |  

Reuters: The rupee slipped on Tuesday due to mild importer dollar demand, but traders said inflows from a recent offshore bond sale by a State bank contained the downside. The rupee spot ended at 132.18/22 compared with Monday’s close of 132.05/10. “The rupee is weaker on mild importer dollar demand but we expect the rupee to stay at these levels in the short term,” a dealer said. Many dealers expect the rupee to hold steady around the 132.25 level due to inflows from the National Savings Bank’s $750 million five-year bond issue. However, dealers say the currency could falter in the medium term, noting the recent pressure caused by the absence of steady dollar inflows from exports and... 


Bourse firmer on foreign inflows

Published : 12:20 am  September 25, 2013  |  Category: Financial Services  |  Leave a Comment  |  372 views  |  

Reuters: Stocks edged up on Tuesday to a near three-week high as investors bought banking shares such as Commercial Bank of Ceylon while foreign inflows also lifted the sentiment, dealers said. The main share index gained 0.2%, or 11.62 points, to close at 5,794.47, near a three-week high. Foreign investors were net buyers of Rs. 241.6 million ($ 1.83 million) worth of shares on Tuesday, extending net foreign inflows in equities this year to Rs. 19.38 billion.Shares in Commercial Bank of Ceylon rose 1.57% to Rs. 116.80, while shares in top conglomerate John Keells Holdings rose 0.5% to Rs. 221.10. Tuesday’s turnover was Rs. 816.9 million, less than this year’s daily average of about Rs. 879.1... 


Shorter leg of the yield curve continues bull run ahead of weekly auction

Published : 12:20 am  September 25, 2013  |  Category: Financial Services  |  Leave a Comment  |  368 views  |  

By Wealth Trust Securities The shorter leg of yield curve remained bullish yesterday, ahead of this week’s Treasury bill auction due today. At today’s auction, Rs. 0.5 billion each will be on offer on the 91 day and 182 day maturities while Rs. 8 b will be offered on the 364 day maturity. At last week’s auction all three weighted averages (WAvg) remained steady for a fourth consecutive week at 8.61%, 9.64% and 10.57% respectively. Once again activity on the shorter end of the yield curve continued to surround duration nearing the 91 day, 182 day and the 364 day maturities as January 2014 bills were seen changing hands within the range of 9.10% to 9.40%, April 2014 within the range of 10.00%... 


National Chamber of Exporters holds 21st NCE Export Awards

Published : 12:19 am  September 25, 2013  |  Category: Business  |  Leave a Comment  |  832 views  |  

By Sarah Hannan The National Chamber of Exporters of Sri Lanka (NCE) held its 21st consecutive NCE Export Awards ceremony recently at Hilton Colombo. Chief Guest for the evening, Secretary to the Treasury/Ministry of Finance and Planning and Ministry of Economic Development Dr. P. B. Jayasundera and Guest of Honour Secretary to the Ministry of Industry and Commerce Anura Siriwardena were in attendance. In his presidential address NCE President Dr. Jagath Pieris thanked Secretary to the Ministry of Industry and Commerce Anura Siriwardena for the valuable advice given to the export sector at all times and appreciated the time and space given to the NCE to discuss concerns with the ministry. “During... 


Prince Charles wishes Nimali for her inspiring entrepreneurship

Published : 12:17 am  September 25, 2013  |  Category: Business  |  1 Comment  |  870 views  |  

At a reception held in London on 9 September 2013, the Prince of Wales, in his capacity as the President of Youth Business International (YBI), met an award-winning young entrepreneur from Sri Lanka, Nimali Gunawardana. The reception took place at St James’s Palace and was part of Global Entrepreneurship Week. Nimali, from Ambalantota, was the winner of the international ‘Start-up Entrepreneur of the Year 2013’ and officially received her award on 12 September at the Entrepreneur Awards Night. Hambantota District Chamber of Commerce (HDCC) CEO Krishanthi Weerasinghe accompanied Nimali to the event. Nimali Gunawardana is a beneficiary of HDCC’s youth business program (HYBP), which is... 


Hambantota’s Nimali flies Lankan flag high at global UK biz awards

Published : 12:16 am  September 25, 2013  |  Category: Business  |  Leave a Comment  |  772 views  |  

Nimali Chips and Fibre Mill founder Nimali wins YBI Start Up Entrepreneur of the Year 2013 Nimali Gunawardana from Ambalantota in the Hambantota District was recently crowned as the UK’s Youth Business International (YBI) Start-Up Entrepreneur of the Year 2013 at an awards ceremony in London. The award is endorsed by UK’s Prince of Wales and prior to receiving her award; she and other award winners had an audience with Prince Charles. Nimali Gunawardana and her business, Nimali Chips and Fibre Mill, have been hailed as pioneers. Within a year she has created an environmentally friendly enterprise producing and exporting coir for mattresses and coir piths and, more uniquely, making coconut... 


Microsoft revamps Surface tablets to challenge Apple

Published : 12:12 am  September 25, 2013  |  Category: IT / Telecom  |  Leave a Comment  |  834 views  |  

Reuters: Microsoft Corp unveiled faster, more powerful versions of its Surface tablet computer on Monday in an effort to boost poor sales of its flagship hardware product and mount a stronger challenge to Apple Inc’s iPad. The Surface is key to Microsoft’s plan to reinvent itself as a devices and services company, but the revamp comes less than a year after it brought out its own computers for the first time and failed to put a dent in the market. It has racked up only US$ 853 million in sales while generating a US$ 900 million charge for unsold inventory. At an event in New York, Microsoft unveiled two new machines and a range of accessories promising faster processing, better battery life... 


EPSI reaches out to tech-savvy with touch screen monitors

Published : 12:12 am  September 25, 2013  |  Category: IT / Telecom  |  Leave a Comment  |  658 views  |  

EPSI Technology Ltd. recently announced the launch of a new range of touch screen monitors from ViewSonic, setting a new benchmark for cutting-edge monitor technology in Sri Lanka. Touch screen technology is perfect for both commercial and consumer users, giving them an intuitive interface with exceptional image quality. The new range of touch screen monitors includes the ViewSonic TD2420, TD2220, and the TD2340. The 23” ViewSonic TD2340 is a 10-point projected capacitive touch monitor that offers 1920×1080 Full HD resolution. Featuring IPS technology and a 20 million-to-1 MEGA Dynamic Contrast Ratio for outstanding colour performance, the ViewSonic TD2340 also has integrated speakers...