Laugfs Lubricants endorsed by country’s best motorsports stars

Demonstrating the company’s superior product offering, Laugfs Lubricants revealed its new brand identity and announced the brand’s latest campaign with the four esteemed brand ambassadors Dilantha Malagamuwa, Ushan Perera, Bathiya and Santhush. 

Johnson’s Baby named No. 1 Baby Care Brand at Brands Annual

Johnson’s Baby clinched the coveted top spot among Baby Care Brands in Brands Annuals 2017 for the fifth consecutive year recently.

Futureworld relocates to spacious location

Futureworld     announced the relocation of their store to a more spacious location. Futureworld Lanka (Pvt). Ltd was incorporated in 2009 backed by the prestigious Singapore-based Thakral Group. 

CTC’s tax contribution to govt. revenue up in 1Q17

The total taxes paid by Ceylon Tobacco Company PLC (CTC), which holds a virtual monopoly on manufacturing and distributing of cigarettes in Sri Lanka, has increased year-on-year (YoY) and quarter-on-quarter (QoQ) despite the concerns that the higher taxes and recent price hikes could ultimately hurt the government revenue.  

Depressed bourse pushes CSE to propose relaxed rules on public float

New regulations proposing to grant exemptions for the current minimum public shareholding rules have been proposed due to a stagnant bourse, the Colombo Stock Exchange (CSE) officials said.

Shares slip; investors await clarity on tax

REUTERS: Sri Lankan shares ended marginally lower yesterday, slipping from a near one-year high hit last week, as investors waited for some clarity after the Finance Ministry said a new tax structure is being considered under reforms.

Rupee edges down on dollar demand

REUTERS: The Sri Lankan rupee ended slightly weaker yesterday as importer dollar demand surpassed early greenback sales by exporters, dealers said.

Mass resignations from Lanka Hospitals director board

A significant change appears to have taken place in the boardroom of the state-controlled Lanka Hospitals Corporation PLC (LHCL).

Higher taxes, currency losses hinder SLT’s March performance

Sri Lanka Telecom PLC (SLT), the leader in fixed line telephony in the country, saw its January-March (1Q17) quarter net profits declining amid the higher taxes slapped on the telecom sector and foreign currency translation losses due to rupee depreciation. 

ComBank March quarter profit up over higher loans, lower provisions

Commercial Bank of Ceylon PLC (ComBank) reported earnings of Rs.3.8 billion or Rs.4.28 a share for the January-March quarter (1Q17), an increase of 17 percent from a year ago, as the higher growth in loans helped to offset the pressing margins as the bank felt the rising cost of funds.   

Printers Association organises seminar in Kalutara

The Sri Lanka Association of Printers (SLAP) is holding its sixth in the series of free full-day workshops on May 20, 2017, at Panorama River View Hotel, Kalutara.

Roundtable discussion on ‘Blue Economy’ in New Delhi

The Centre for Indo-Lanka Initiatives (CILI) of the Pathfinder Foundation (PF) will conduct a two-day round table discussion on Blue Economy with the Vivekananda International Foundation, in New Delhi today and tomorrow.

‘Viceroy Special’ assures settling dues: Railways Dept.

The Railways Department said JF Tours and Travels (CEY) Ltd, which operates the ‘Viceroy Special’ tourist train with a steam engine, has assured to settle the due payments to the department.

SLRA launches Sri Lanka’s first Retailers’ Forum

The Sri Lanka Retailers’ Association (SLRA) will be organising the Sri Lanka Retailers’ Forum, which will be the first and foremost retail forum organised in Sri Lanka, and also is one of the flagship events the SLRA has lined up for the year 2017. 

MyDoctor.lk bags two awards at BestWeb.lk 2017 competition

Organized by the ‘.lk’ domain registry BestWeb.lk was held for the 7th consecutive year, with the objective of recognizing excellence among Sri Lankan websites, based on visual appeal, usability and popularity among its users. 

Ceyoka Engineering provides advanced water, wastewater management solutions

Harnessing the comprehensive capabilities of Ceyoka Engineering (Pvt) Ltd, a leading conglomerate in the country, its water management division provides cutting-edge water and wastewater solutions. 

Finagle exports first container load of frozen bakery products to USA

Finagle, the country’s leading bread and allied products manufacturing company, inspired the food industry ­­with its first export of a container load of frozen bakery products which was shipped to the United States of America. 

SLSBC and Singapore (Sri Lanka) Club hold networking event

A joint networking evening was recently organised by the Sri Lanka – Singapore Business Council (SLSBC) of the Ceylon Chamber of Commerce and Singapore (Sri Lanka) Club. 

Ceylon Tea Brokers invests Rs.233mn to secure land for warehouse in Muthurajawela

Ceylon Tea Brokers PLC (CTBL), a subsidiary of Capital Alliance group, has entered into a share sale agreement with Lanka Commodity Brokers Limited recently to construct a warehousing complex in Muthurajawela.

Lanka IOC March in red as higher crude prices hit performance

Lanka IOC PLC (LIOC), the local unit of Indian Oil Corporation Limited, turned a net loss of Rs.647.1 million during its January-March quarter (4Q17) from a net profit of Rs.1.55 billion during the corresponding quarter last year, but ended the full year (FY17) with a net profit of Rs.3.1 billion, up 39 percent.  

Workers’ remittances down 3.3% in Jan-March

Workers’ remittances, the largest foreign income source to the dollar-hungry Sri Lanka, has taken a dive during the first three months, as the total remittances have declined by 3.3 percent followed by a 12.2 percent decline in March 2017, according to Central Bank data. 

Seylan Bank raises US $ 75mn to expand small and medium enterprise lending

Seylan Bank has been able to raise US $ 75 million long-term facility from five separate foreign financial institutions to boost its small and medium enterprise (SME) sector lending. 

Guangxi, China-Sri Lanka Economic and Trade Cooperation Forum to be held in Colombo

A 70-member high profile delegation led by Communist Party Secretary of China’s Guangxi Zhuang autonomous region, Peng Qinghua, will arrive in Colombo this week on the invitation of Industry and Commerce Minister Rishad Bathiudeen to attend the Guangxi, China-Sri Lanka Economic and Trade Cooperation Forum. 

SL’s top IT professionals’ body alerts public on latest ransomware attack

The Computer Society of Sri Lanka (CSSL), the apex body for IT professionals in the country, in a statement has alerted the public about the newest ransomware to hit the cyberspace, WCrypt, which continues to infect computers across the globe. 

Challenging conditions, negative publicity drag down Keells Food profits

Keells Food Products PLC (KFP), the processed food manufacturing arm of the country’s largest conglomerate, the John Keells Group, recorded a 31 percent year-on-year (YoY) fall in its net profits to Rs.48.49 million for the fourth quarter of 2017 (4Q17) amid challenging conditions and effects from negative publicity campaigns.

EFL completes major training capacity expansion drive

Responding to significant growth in demand for qualified professionals in the sector, global logistics provider Expolanka Freight (EFL) announced a significant expansion of its training capabilities with the opening of a dedicated new auditorium facility together with the launch of breakthrough cloud based e-learning platform.

CPC, CPSTL and LIOC officials visit IOC’s Panipat Refinery & Petrochemical Complex

During the recent visit of 1st batch of Sri Lankan Oil Sector delegates to India for SAP training, delegates also visited Indian Oil’s Panipat Refinery & Petrochemical Complex (PRPC).  

IIRC CEO to deliver keynote at CMA Integrated Reporting Awards

The CEO of the International Integrated Reporting Council (IIRC) Richard Howitt will  deliver the keynote address at the awards presentation ceremony at the ‘CMA Excellence in Integrated Reporting Awards – 2017’on July 17at Cinnamon Lake Side, Colombo.

Masters Advertising receives ACEF recognition

Master’s Advertising Ltd was presented with the ‘Newspaper Professional of the Year’ at the Asia Pacific Customer Engagement Forum and Awards (ACEF) in Mumbai, India recently.

Home Lands Group illuminates UN Diyawannawa Vesak zone

Home Lands Group, being the leading skyline changer in Colombo sky, joined hands with the Ministry of Megapolis and Western Development, and UN Committee in lighting up the Diyatha area and Diyawannawa Vesak zone, in this Vesak season.