Last Updated : 23-04-2014 12:06

 
 

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Nestlé Lanka records strong growth amid economic challenges

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Full year net profit at Rs.2.9bn; quarter profits at Rs.949mn Recorded highest annual intake of local fresh milk, bringing the company’s total contribution to the rural economy to Rs.4 billion in 2012 Sri Lanka’s Nutrition, Health and Wellness company, Nestlé Lanka PLC, posted a revenue of Rs.7.2 billion for the last quarter of the year.
Views: 1743

CTC goes to Supreme Court to overturn CA ruling

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The Ceylon Tobacco Company (CTC) has filed documents with the Supreme Court of Sri Lanka seeking to overturn the decision of the Court of Appeal to reject a stay order on new government regulations with regards to the labelling of cigarettes in the country.
Views: 2025

United Motors launches Mitsubishi Mirage

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United Motors Plc launched the Mitsubishi “Mirage’, a compact fuel-efficient car with a capacity of 1.2 liters petrol engine in to the local auto market this week.
Views: 2382

Delmege appointed ‘Berri’, ‘Just Juice’ exclusive distributor in Sri Lanka

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Delmege Forsyth and Co Ltd and Lion Australia Pty Ltd yesterday announced the appointment of Delmege Forsyth & Co Ltd as the exclusive distributor of ‘Berri' and ‘Just Juice' in Sri Lanka.
Views: 2520

SLT group posts Rs.6 bn Operating Profit

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The Premier integrated telecommunication service provider, Sri Lanka Telecom PLC. (SLT) announced its group and company financial results for the year 2012, notching Rs. 6.17bn Group Operating Profit, a growth of 19% Year on Year (YoY).
Views: 1383

GVR Lanka signs agreement for mixed development project

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The Board of Investment (BoI) signed an investment agreement with GVR Lanka (Pvt.) Ltd to set up the first-ever mixed development real estate project in Kandy, close to the famous ‘Elephant Bath’ locale.
Views: 1616

S. Asia’s first underwater tunnel aquarium launched

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Economic Development Minister Basil Rajapaksa yesterday opened South Asia’s first underwater tunnel aquarium at Water World, Biyagama.
Views: 3132

Climate change real economic risk, World Bank tells G20

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AFP: The President of t h e World Bank warned the finance chiefs of the world’s leading economic powers that global warming is a real risk to the planet and already affecting the world economy in unprecedented ways.
Views: 1384

Aitken Spence records Rs.2.1bn 9-month net profit

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Blue chip conglomerate Aitken Spence PLC reported its interim results to the Colombo Stock Exchange yesterday, showing Rs 3.1 bn as profit before tax, which is an increase of 18 per cent for the nine months ended December 31, 2012, amidst challenging macroeconomic conditions.
Views: 1945

Commercial Credit raises Rs.500mn via debentures

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The Rs.250 million second tranche of Commercial Credit and Finance PLC’s debenture issue was oversubscribed, the company informed the Colombo Stock Exchange yesterday.
Views: 1686

SLT gets first local CEO

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Sri Lanka Telecom (SLT), the national telecommunications provider, proudly announces the appointment of Lalith De Silva as the new Group Chief Executive Officer (CEO) with effect from February 7, 2013.
Views: 2212

Chevron Lanka Q4 net flat amid market volatility, bad weather

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Chevron Lubricants Lanka PLC (LLUB) recorded a 2 percent Year-on-Year (YoY) increase in net profits up to Rs. 571.4 million during the fourth quarter of last year (4Q12).
Views: 1634

CTC 2012 net up 24 pc to Rs.8.2 bn; govt inhales Rs. 71bn in taxes

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Ceylon Tobacco Company Plc (CTC), the local unit of British American Tobacco, posted a consolidated after tax profit of Rs.8.2 billion for the financial year ended December 31, 2012 up 24.4 percent from a year ago.
Views: 1456

Textured Jersey 3Q net up 95% to Rs.365 mn

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Textured Jersey Lanka PLC (TJL), Sri Lanka’s leading provider of knit fabric to major global brands such as Victoria’s Secret, Marks & Spencer, Intimissimi and Decathlon, reported Rs.365 million in net profit for the quarter ended December 31, 2012 (3Q FY2012/13), growing 95 percent compared to the same period last year, as per the financial results released to the Colombo Stock Exchange (CSE).
Views: 1909

Internet improvement must become govt’s top priority : SLASSCOM chief

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Improving the quality and accessibility of internet connectivity across the island must become a top priority for the Sri Lankan government if it is to continue fostering the growth of the country’s Information Technology and Business Process Outsourcing (IT/BPO) sectors, according to Chairman, SLASSCOM, Sujiva Dewaraja.
Views: 1517

Free and fee-based education balance vital - Sir Paul Judge

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Sri Lanka must find its own balance between free education and fee-based education, particularly in the field of tertiary education in order to bring maximum benefit to the wider economy, according to Global President of the Chartered Institute of Marketing (CIM), Sir Paul Judge.
Views: 2193

Hotel Services Dec. quarter net down 139mn

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Hotel Services (Ceylon) PLC, the owners of Kingsbury Hotel, previously known as Ceylon Continental, posted a net loss of Rs.138.9 million for the three months ended December 31, 2012, as against a profit of Rs.13.2 million in the corresponding quarter of the previous year.
Views: 1709

HSBC Sri Lanka to get new CEO from April

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HSBC has appointed Patrick Gallagher, CEO of HSBC Bahrain, as the new CEO of HSBC Sri Lanka and Maldives with effect from April 30, 2013, subject to regulatory approval
Views: 3057

IFC facilitates loan access to small businesses

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IFC, a member of the World Bank Group, is working with Sri Lanka’s Credit Information Bureau (CRIB) to make it easier for up to 37,000 micro and small businesses to access loans and other forms of financing using movable assets as collateral.
Views: 3813

SLTPB welcomes “Mv Queen Mary 2”

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Sri Lanka Tourism Promotion Bureau (SLTPB) welcomed the vessel “Mv Queen Mary 2” yesterday at a brief ceremony held at the Colombo harbour. The luxury carrier, owned by a UK-based company, had over 2300 tourists on board from USA, Britain, Australia, New Zealand, South Africa and Canada.
Views: 1939

Cess increase worsens tea industry worries

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The recent increase in export taxes and the lack of communication between tea exporters and the government authorities are contributing to the progressive demise of the country’s tea industry, Colombo Tea Traders Association (CTTA) said in a statement.
Views: 3781

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Video: Playing with paper rockets
Avurudu at Polhena Beach
Railways Trade Union fast against termination of employees
Yanni ready to rock Colombo