Sri Lanka joins Wings for Life World Run

Join Sri Lanka in the Wings for Life Organised App Run on May 7, 2017 and find a cure for spinal cord injury.

Avurudu vibes at Leo Burnett Sri Lanka

In keeping with the traditions of the national new year, the team at Leo Burnett Sri Lanka, the local office of the global advertising network Leo Burnett Worldwide celebrated the joy with the agency team and  their families. 

iflix premieres The Good Place comedy

iflix, Southeast Asia’s leading subscription video on demand (SVoD) service, offering subscribers unlimited access to thousands of TV shows, movies and more, is thrilled to premiere the new hit comedy, The Good Place. All 13 episodes of the hilarious first season are now available to stream or download for in Sri Lanka, only on iflix.

Silver sponsors Foxhill Super Cross

The famous brand of Rainco (Pvt.) Ltd, Silver, has come forward as one of the main sponsors of Sri Lanka’s most popular motor and motorcycle racing event Foxhill  Super Cross Diyatalawa.  The Foxhill Super Cross, which is organised by Sri Lanka Army’s Military Academy for the 25th time, will be held at the Nariyakanda racing track  today.

BMICH holds Avurudu Bakmaha Ulela for employees

Inviting an auspicious start to the new year, the BMICH recently hosted an expansive and entertaining Bakmaha Ulela celebration featuring over 20 events, including the commonly popular fancy dress parade,

FITIS offers FAMOUS award for 7th time

The Federation Award for the Most Outstanding University Student (FAMOUS) award has been offered by the Federation of Information Technology Industry Sri Lanka (FITIS) at the Sri Lanka Institute of Information Technology (SLIIT) convocation held recently, at the SLIIT auditorium.

Sony nearly triples annual profit forecast

AFP: Sony yesterday nearly tripled its annual net profit forecast, citing lower-than-expected costs in its chip business and other divisions, including the PlayStation games business.

Government expects to bag US$ 4bn from 2.5mn tourists this year

Sri Lanka’s tourism authorities are hoping to attract 2.5 million tourists and generate US$ 4 billion in foreign exchange for the country this year, backed by a short-term Rs.500 million digital media campaign, which is currently being planned.

All set for PATA Annual Summit 2017 next month in Negombo

The Pacific Asia Travel Association (PATA) will be holding the PATA Annual Summit 2017 in Sri Lanka next month, under the theme ‘Disruption, Innovation, Transformation: The Future of Tourism’.

Ninety five percent engineers in India unfit for software development jobs

PTI: Talent shortage is acute in the IT and data science ecosystem in India with a survey claiming that 95 per cent of engineers in the country are not fit to take up software development jobs.

MBSL debenture first tranche snapped up on opening day

Merchant Bank of Sri Lanka & Finance PLC (MBSL), a unit of State banking giant Bank of Ceylon yesterday said its first tranche issued to raise Rs.1.0 billion in debentures was oversubscribed on the opening day as the company received applications in excess of 10 million debentures issued by 12.30 p.m. 

Piramal Glass margins, profits to remain flat, but stock has upside: research

The recent capacity enhancement and the commissioning of the dual furnace firing at Piramal Glass Ceylon PLC appears to be having a limited positive impact on the company’s immediate financial performance as profits and margins are projected to remain flat though the medium-term outlook is expected to remain positive, an equity research on the company’s  stock said. 

Lankem gains full ownership of packaging subsidiary for Rs.320mn

The diversified manufacturing and trading conglomerate, Lankem Ceylon PLC (Lankem), last week gained the full ownership in its subsidiary JF Packaging (Pvt.) Limited for Rs.320 million, a disclosure to the trading floor of the Colombo bourse said.

LMD – Brands Annual lists MyDeal.lk amongst top 10 e-Commerce brands

LMD – Brands Annual 2017 edition has listed leading e-Commerce company, MyDeal.lk amongst Sri Lanka’s 10 top e-Commerce brands. 

Kelani Saviya to extend for five more years

Kelani Cables PLC’s unique joint CSR programme ‘Kelani Saviya’ which served the youth of the country by producing professional electricians continuously for the past 10 years will be extended further for a period of five years by the Kelani Cables management and the Peradeniya University administration. 

CAB to hold Interbank Quiz Competition on April 29

The 25th Annual Interbank Quiz Competition organized by the Clearing Association of Bankers (CAB) is to be held on April 29 (4:00 p.m. onwards) at the Galadari Hotel.  

MTD Walkers subsidiary secures first project in Maldives

Walkers CML International (Private) Limited, a subsidiary of MTD Walkers PLC, yesterday said it has secured its first luxury residential project in the Maldives. 

Insee Cement’s Sanstha brand wins People’s Award for sixth successive year

Insee Cement emerged victorious at the recently concluded SLIM-Nielson People’s Awards 2017, where Sanstha Cement was lauded with the Brand of the Year Award for housing and construction for the sixth consecutive year. 

Shares up 1% as foreign buying hits near 3-yr high

REUTERS: Sri Lankan shares rose more than one percent to end at a six-month high yesterday as foreign investors increased the pace of stock purchases, with the net single-day inflow hitting its highest in nearly three years.

Lee Hedges fully acquires its real estate developer

Lee Hedges PLC (SHAW) recently acquired the full control of Lee Hedges Investments Limited (LHI), which has been carrying out real estate development on behalf of SHAW.

Ishara ups direct holding in Browns Investments

Corporate leader Ishara Nanayakkara has upped his direct holding in Browns Investments PLC, the strategic investment vehicle of Browns and LOLC groups, Nanayakkara’s broker, LOLC Securities, informed the Colombo bourse yesterday.   

Indian tycoon Mallya granted bail in London extradition hearing

REUTERS: Flamboyant businessman Vijay Mallya, pursued by Indian authorities over unpaid loans tied to his defunct Kingfisher Airlines, was arrested in London yesterday and appeared in court for an extradition hearing.

Nation Lanka Finance raises Rs.250mn to support lending

Nation Lanka Finance PLC, a licensed finance company with an asset base of around Rs.8.0 billion has raised Rs. 250 million via a subordinated debenture issue by  way of a private placement with the objective of buttressing the company’s tier II capital, a stock exchange filing by the company said. 

Rupee ends weaker on importer dollar demand

REUTERS: The Sri Lankan rupee closed weaker yesterday due to dollar demand from importers, but the currency is expected to steady in the near term, dealers said. Rupee forwards were active, with two-week forwards ending at 153.15/25 per dollar, compared with Monday’s close of 152.95/153.10. “There is some importer demand and we see the currency stabilising at these levels,” said a currency dealer who requested anonymity.

Dialog seeks shareholder nod to relax eligibility criteria for ESOP

Leading    telecommunications services provider Dialog Axiata PLC has proposed to relax some of the criteria to make its high performing employees become eligible for the Employee Share Option (ESOP) scheme, which is a part of its Long Term Incentive Plan (LTIP).

Vidullanka’s overseas acquisition held up by delays in regulatory approvals

Renewable energy developer Vidullanka PLC is experiencing some headwinds in its attempt to acquire a Uganda-based renewable energy firm, which will delay the issuing of Vidullanka shares to fund  the acquisition.

SAGT strikes deal with workers to end 13-day operational disruption

South Asia Gateway Terminal (SAGT), a private container terminal operating at the Colombo port, has managed to strike a deal with its workers, ending a 13-day operational disruption at its berth, SAGT said in a statement, yesterday.  

ADB says further monetary tightening by CB cannot be ruled out

The Asian Development Bank (ADB) recently said it could not rule out further tightening of the monetary policy by the Central Bank of Sri Lanka during this year to fend off any adverse developments in the economy. 

Top poultry producer says Sri Lanka’s chicken meat consumption up in 2016

Despite all the noise about the current political stalemate, expected economic slowdown and crisis-stricken agricultural sector, Sri Lankans have increased their daily intake of proteins by way of eating more chicken meat, perhaps to produce more energy to face tougher times ahead. 

CSE banks on whistleblowers to curb market manipulation

Sri Lanka’s stock market, which has lost significant value during the last couple of years, is now on a mission to rebuild investor confidence by clamping down on market manipulation with the help of whistleblowers.