SLT June net down 4.3%; top line edges up 2.4%

Sri Lanka Telecom PLC (SLT) is likely to see some challenging operating conditions ahead with its top line showing signs of plateauing with the profits getting squeezed over the ever increasing heavy investments required to stay technologically relevant, a phenomenon that is common to all telecommunication providers.   

Ceylon Tea Brokers to raise Rs.205mn from shareholders for new tea warehouse complex

Ceylon Tea Brokers PLC (CTBL) announced that it is hoping to raise Rs. 205 million through a rights issue to develop a state-of-the-art tea warehouse complex, following a board decision last week. The company said that it is hoping to reduce operating costs and time through the new infrastructure.

Losses at CIC Holdings continue as key biz profits narrow

CIC Holdings PLC reported a net loss of Rs.87 million or 92 cents a share for the April-June quarter (1Q18) from a profit of Rs.250 million or Rs.2.64 a share for the corresponding quarter last year as key segments such as fertilizer and livestock continued to face challenges, the interim financial accounts showed. 

Ceylinco Insurance profit soars over higher investment income; premium growth moderates

Ceylinco Insurance PLC reported consolidated earnings of Rs.893. 8 million or Rs.33.84 a share for the April-June quarter (2Q17), recording an increase of 75 percent year-on-year (YoY) supported by stronger investment incomes and moderate increase in premiums amidst challenging operating conditions.  

NDB sponsors NCE Exports Awards for 8th consecutive year

National Development Bank PLC (NDB) joined hands with the National Chamber of Exporters as a Premium sponsor for the Annual National Chamber of Exports Awards for the eighth consecutive year.

SL-Malaysia Biz Council to meet Malaysian Sarawak Timber Association delegates

The Sri Lanka-Malaysia Business Council of the Ceylon Chamber of Commerce in association with the Malaysia External Trade Development Corporation (MATRADE) is organising a business meeting with a trade promotion delegation from Malaysia to Sri Lanka, on August 25, 2017, at Hilton Colombo Residences. 

Ceylon Chamber PPP workshop with David Baxter tomorrow

With the government’s public-private partnership (PPP) programme getting underway, it is important for the Sri Lankan private sector to understand how PPPs work and how to latch on to PPP projects in an array of sectors ranging from energy, transport, water, waste management or social infrastructure.

New Sony digital imaging showcase opens in Sri Lanka

Sony International (Singapore) Ltd. announced the opening of a new digital imaging showroom in collaboration with renowned Sri Lanka distributor CameraLK Pvt. Ltd.

EDEX helps find path from school to work

EDEX, a multi-stake holder ‘social responsibility’ initiative facilitated by the Royal College Union, the alumni of Royal College, Colombo, was launched in 2004 as Sri Lanka’s pioneering and largest educational expo. 

SLIIT signs MoU with CSSL for sponsorship of NITC 2017

The Sri Lanka Institute of Information and Technology (SLIIT) recently signed a Memorandum of Understanding (MoU), with the Computer Society of Sri Lanka (CSSL) confirming their sponsorship of The National IT Conference 2017 organised by the computer society of Sri Lanka as a Gold Sponsor.

Exterminators upgrade to ISO 9001:2015

Exterminators (Pvt.) Ltd, Sri Lanka’s premier award winning pest control company upgraded its quality management standard to ISO 9001:2015 recently. 

Serendib Flour Mills supports Pro-Food Pro-Pack exhibition as Silver sponsor

Serendib Flour Mills (SFML) recently extended its support to Sri Lanka’s premier food, agriculture and packaging exhibition, Pro-Food Pro-Pack, as the Silver sponsor of the event for the fourth consecutive year.

Fentons and NEC celebrate four decades in Lankan market

Fentons Ltd, Sri Lanka’s leading integrated solutions provider for Building Systems infrastructure and ICT infrastructure, recently celebrated 40 years of unbroken strong partnership with Japanese multinational, NEC Corporation.

Aislaby Estate sets an all-time record price

Aislaby Estate situated in Bandarawela has established an all-time record price of Rs.1150 for a BOP SP grade in the Uva High category at this week’s tea auction held on 16th August 2017. 

Rupee falls on importer dollar demand

REUTERS: The Sri Lankan rupee fell slightly in thin trade yesterday as importer dollar demand surpassed sales of the U.S. currency by banks, dealers said. 

Life insurance segment aims at 100% penetration

Despite the struggle to increase the sales of life insurance policies, senior industry representatives of that segment yesterday expressed determination in ironing out prevailing issues to reach 100 percent penetration rate.

Global Housing & Real Estate sponsors for ‘Premaya’ concert

One of the top real estate companies in Sri Lanka Global Housing & Real Estate(Pvt) Ltd demonstrating  its contribution to musical activities once again has steped forward as the main sponsor for the musical extravaganza ‘ Premaya-Night of Romance’ organized by the Royal College 99 Group.

Nestle accused of pilfering Atari ‘Breakout’ game for ‘Kit Kat’ ads

REUTERS: A new lawsuit accuses Nestle SA of blatantly violating the rights of Atari by using without permission the classic 1970s video game ‘Breakout’ in a new marketing campaign for its Kit Kat chocolate-covered wafers.

CIM Sri Lanka Toastmasters Club conducts 9th Club Officer Installation

CIM Sri Lanka Toastmasters Club, one of the dynamic and vibrant clubs of the Toastmasters community, held its 09thClub Officer Installation Ceremony at the Global Towers Hotel, Colombo. The CIM Toastmasters Club was chartered in April 2009 and falls under the purview of the Chartered Institute of Marketing Sri Lanka.

Seylan Colombo Motor Show revs off with a bang

The Seylan Colombo Motor Show, one of the largest automotive events in Sri Lanka kicked off yesterday at the Sirimavo Bandaranaike Memorial Exhibition Centre in Colombo with an expected crowd turnover exceeding the 100,000 mark for the 3-day event.

Norwegian research vessel Dr Fridtjof Nansen to arrive in Sri Lanka next year

A planning seminar is to take place in Colombo for the new Norwegian Research vessel Dr Fridtjof Nansen to come to Sri Lankan waters in 2018 to carry out a survey on the marine resources. 

India’s largest online taxi operator set to enter Sri Lanka, B’desh

India’s largest online taxi aggregator Ola plans to expand business to Bangladesh and Sri Lanka, as it is hiring operation experts in Dhaka and Colombo.

Panasian Power makes acquisition to construct two new mini hydropower plants

Panasian Power, yesterday announced the successful acquisition of Lower Kotmale Oya Power Two (Pvt) Ltd. 

SLT rewards OTT-Filmhall promo winners with Smart TVs

Sri Lanka Telecom (SLT) being the leading ICT solutions provider in the country in collaboration with the largest and the pioneer in the digital media entertainment in South Asia, Hungama Digital Media Entertainment Pvt Limited and its local Partner Evoke International Pvt Limited successfully held its SLT Filmhall Service Promotion Award cCremony recently at SLT headquarters. 

Coca- Cola “Gives Back Life” to 4.5 tonnes of PET bottles in Katharagama

Coca-Cola Beverages Sri Lanka Ltd recently supported and sponsored the collection and clean-up of PET bottles following the large crowds gathered at the Kataragama Perahera Festival. It was an 

TBWA\Sri Lanka Disrupted!

TBWA\Sri Lanka was disrupted by Robin Nayak, Chief Strategy Officer, Singapore & South East Asia at a recently concluded two day workshop, in Colombo. The Sri Lanka team was rejuvenated on 

The Evolution of Sri Lanka’s Jewelry Industry over the Ages

The history of Sri Lanka’s Jewelry Industry is as old as that of its other half – the Gem Industry. The two industries are indeed two halves of one coin. The Mahavamsa shows that even before the coming 

Govt. announces pre-budget bonanza!

The country was treated to a pre-budget bonanza yesterday, when the Finance Ministry cut several taxes and provided Rs. 4.4 billion in interest subsidies under several loan schemes to encourage youth entrepreneurship. 

Tax on stocks in proposed revenue bill will be addressed: Eran

REUTERS: State Finance Minister Eran Wickramaratne yesterday said concerns about a possible capital gains tax on share trading will be addressed before a proposed revenue bill is passed in the parliament.

Sri Lanka Tourism changes focus from arrivals to revenue

The Sri Lankan government appears to have moved away from targeting arrivals towards a revenue targeting model, the Tourism Strategic Plan 2017-2020 of the Ministry of Tourism Development and Christian Affairs indicated.