Lanka IOC (LIOC) will be introducing Euro 3 Diesel to the Sri Lankan market by 2014 and will also be investing Rs.90 million to modernise the required infrastructure to support this introduction, the company’s latest annual report stated.
Around 35 percent of food is lost between harvest and distribution across the Asia-Pacific region, depriving millions of nutrition, the UN’s Food and Agriculture Organisation said yesterday
As Sri Lanka experiences a surge in internet usage with brands thriving to be at their best in this digital phenomenon, the retail fashion chain Fashion Bug has been recognized for its Official Website www.fashionbug.lk with a Silver award in the recent BestWeb.lk 2013.
National Development Bank PLC (NDB) has announced the appointment of Rajendra Theagarajah as the new CEO of NDB Group with effect from August 24, 2013.
The troubled finance company, Central Investment & Finance Company PLC (CIFL) continued to mount its losses and the first quarter (1Q14) results released to the Colombo Stock Exchange (CSE) showed a net loss of Rs.182 million. In the corresponding quarter last year, the company’s net profit stood at Rs.334, 000.
Asian Development Bank (ADB) has asked Asian economies to up their manufacturing sector in order to achieve economic prosperity and avoid the middle income trap that has held back many countries after reaching the landmark.
Instead of having to wait for foreign companies to invest in Sri Lanka, in another four years time, local companies will step up seeking cross boarder investments in a net-foreign exchange surplus economy, according to the Central Bank (CB) Governor.
Kotagala Plantation, a unit of Lankem Ceylon PLC has decided to set up a 15,000 hectare rubber plantation in Cambodia.
HNB Assurance PLC, the insurance arm of Hatton National Bank, saw its net profit surging 29 percent Yearon-Year to Rs.106.6 million for the six months ending June 30, 2013 (1H13).
Gaming mogul James Packer-controlled Crown casino group has been warned of dangers of bribery in expanding its casino empire into Sri Lanka and the Philippines, by a state gambling watchdog, Australian media reported.
Registration of luxury vehicles have reached highest levels for 2013 with 729 registrations in July, an equity brokerage report showed.
Lanka IOC PLC (LIOC), the local unit of the Fortune 500, Indian Oil Corporation Limited saw its net profits for the three months ended June 30,2013 soaring as much as 600 percent Year-on-Year (YoY) to Rs.1.35 billion due to cost controls.
During the first half of 2013, post-tax profit of the bank improved by 12 percent to Rs.3.14 billion, compared to Rs.2.8 billion during the corresponding period in 2012, while the group post-tax profit improved by 15 percent to Rs.3.4 billion.
The withdrawal of imported milk powder from the market under the direction issued by the Sri Lankan authorities could trigger a milk powder shortage in the market in the short term and could also lead to the making of a milk powder black market.
Hassani Group of companies in Dubai launched its operations in Sri Lanka under their global brand name “SAFA” by partnering with Hayley’s Agriculture for franchised manufacturing and East West Marketing to market and distribute a range of its manufactured food categories such as juices, pasta, sauces, mayonnaises, tomato paste and many more.
With Sri Lanka having to experience a mobile penetration that’s close to the entire population of the country coupled with the increasing growth in internet access via handsets and smartphones, Keells Super brings mobile shopping for the first time in its industry, adding greater ease and convenience to its shoppers.
Dialog Axiata PLC, a unit of Malaysia’s Axiata group, posted a net profit of Rs.950.3 million for the quarter ended June 30, 2013 (2Q13) against Rs.879.5 million in the corresponding quarter of the previous year, boosted by higher revenues across Mobile and Pay TV segments.
Sri Lanka’s Ceylon Chamber of Commerce (CCC) has welcomed the initiative by the government to declare Sri Lanka’s four main ports, Colombo, Hambantota, Trincomalee and Galle as ‘free ports’.
Dipped Products PLC (DPL) generated a sharp 29 percent year-on-year (YoY) increase in net profits backed by stable rubber prices and strong Italian exports to post Rs.413.9 million during the quarter ended June 30, 2013.
The most awaited SLIM Brand Excellence organised by the Sri Lanka Institute of Marketing (SLIM) kicked off with a media, judges’ and participants’ briefing held at The Kingsbury Colombo yesterday.
Amana Bank has introduced its newest savings product ‘Amana Bank Personal Salary Account’ targeting the working population of the country. The Personal Salary Account offers greater accessibility and convenience along with a host of privileges, including a monthly profit on their income.
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