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An Indian real estate company is to develop Colombo’s tallest residential tower designed by world renowned architect Moshe Safdie, in the 10 acre land previous belonging to the Colombo Commercial Company near Beira Lake.

The ‘Appzone Champions 2012’ Award Ceremony saw mobile application developers honored for excellence in seven different categories.

Hutchison Telecommunication Lanka (Pvt.) Ltd. became the first mobile operator in Sri Lanka to introduce an automated reload machine (ARM) similar to a self-service terminal used by the banking industry.

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With a reputation for consistently delivering innovative and creative ideas that work, BBDO Lanka, a part of BBDO Worldwide, presented an idea that has the potential to revolutionize the scope of environmental conservation. The launch of Asia’s first mechanical air cleaning hoarding – a hoarding that actually filters certain harmful content from the surrounding air, purifies it and releases the purified air back to the environment.

Exorbitant taxes on alcoholic beverages, particularly beer, in combination with other restrictions on sales and marketing may inadvertently fuel the demand for illicit liquor, according a Chief Executive Officer, Lion Brewery (Ceylon) PLC.

Sri Lanka’s tea exporters yesterday said that they are committed to preserve the brand ‘Pure Ceylon Tea’, but stressed the country’s export share in the world tea market should be expanded to avoid deterioration of Sri Lanka’s position as a major tea exporting nations.

A former tea industry personality plans to file legal action once again, this time on the grounds of ‘Contempt of Court’, in relation to the recent talks by authorities for setting up a tea hub or blending centre in the island.

Sri Lanka’s Securities and Exchange Commission (SEC) is to establish an ‘Investor Association’ to safeguard minority shareholder interests as well as function as a whistleblower against unlawful activities taking place in the Colombo Stock Exchange (CSE), a top SEC official said.

Securities and Exchange Commission (SEC) is said to be currently evaluating the legal options available to reverse the Rs.390 million controversial The FinanceNational Savings Bank deal, Mirror Business learns.

Dialog Axiata PLC recorded a net loss of Rs.531 million in the first quarter ending March 31, 2012 against a net profit of Rs.1 billion in the corresponding quarter of the previous year.