Oxygen quality of surgical, medical procedures highly important: Gas World

Oxygen given during surgery remains a key factor to be considered in the hospital sector. When it comes to quality levels of the oxygen given for surgery, compromising on standards can threaten lives considerably, according to industry experts.

Protecting rupee more important than interest rates, says Ravi K

Finance Minister Ravi Karunanayake this week said protecting a fragile rupee was more important than controlling interest rates as the local currency tended not to rebound after a depreciation.

CAL gears to launch Rs.4bn private equity fund

The investment bank, Capital Alliance (CAL), will be launching a Rs.4 billion private equity fund in the near future, a top company official said.

Industrial activities soar to second highest in 4Q16

The industrial activities in Sri Lanka sped up to the second highest during the fourth quarter of the 2016 (4Q16) calendar year through increased production of wearing apparels and non-metallic minerals, pushing the Index of Industrial Production (IIP) up 4.3 percent year-on-year (YoY).

Manufacturing and services activities slow down in January

Sri Lanka’s manufacturing and services sectors lost some momentum in January compared to the previous month though both sectors recorded index values over 50 percent, still signalling an expansion. 

Higher borrowings, plantations weigh on Hayleys December profits

The diversified conglomerate, Hayleys PLC, reported earnings of Rs.7.08 a share for the October–December quarter of 2016, against Rs.7.12 a share earned during the same period last year, as the performance was dented by a surge in finance costs due to higher interest rates and new borrowings made to make certain group investments. 

Carson group PE firm expands investment activities in 3Q

Specialized private equity company, Guardian Capital Partners (WAPO), expanded its investment activities during the quarter ended December 31, 2016 (3Q17), with an investment of Rs.42 million on a hospitality and banking sector vocational training institute, WAPO’s interim financial statements said.

ACCA Sustainability Reporting Awards on February 28

Strengthening its fundamental ethos of rewarding transparency, the Association of Chartered Certified Accountants (ACCA) Sri Lanka holds its flagship calendar event for the thirteenth year in succession on February 28th at Cinnamon Grand.  

Higher borrowing costs weigh on CIC Holdings December profit

CIC Holdings PLC (CIC), the diversified crop and agricultural solutions provider, reported earnings of Rs.3.58 a share for its October–December quarter (3Q17), down from Rs.5.93 a share reported during 

South Asia Textiles strategizes with MTI

South Asia Textiles Limited (SATL), a leading Sri Lankan textile manufacturer specializing in producing

Cabinet nod for US $ 1.5bn bond issue

The Cabinet of Ministers has approved a proposal to raise US $ 1.5 billion through a sovereign bond issue to repay loans and manage interest payments.

DIMO wins first place for Best Integrated Annual Report in South Asia

Diesel & Motor Engineering PLC (DIMO) recently achieved recognition for their widely acclaimed annual report. 

Independent accreditation body proposed to fix education sector glitches

The Sri Lankan government should introduce an independent accreditation body to monitor and regulate both state and private sector higher education institutes, a leading figure of a state-run economic policy think tank advocated this week.

Price controls dent Sunshine Holdings December profits

Diversified conglomerate Sunshine Holdings PLC posted a net profit of Rs. 13.46 million for the quarter ended December 31, 2016 (3Q17), down 92 percent year-on-year (YoY) from a net profit of Rs. 174.63 million, largely due to pharmaceutical price controls imposed by the government. 

Sampath 4Q profit soars amid higher credit

Sampath Bank PLC, Sri Lanka’s third largest private lender by assets, reported earnings of Rs.14.44 a share for its October–December quarter against Rs.8.91 a share reported a year ago, the interim results released to the Colombo Stock Exchange showed. 

Aitken Spence’s resumed energy operations energize 3Q profit

Diversified Aitken Spence PLC reported earnings of Rs.2.14 a share or Rs.870.1 million for the December quarter (3Q17) recording an increase of 36.5 percent from a year ago, the interim report showed.

CAL to offer Sri Lanka’s first-ever digital account registration in CSE

Sri Lanka’s leading investment banking firm and the preferred partner in financial markets, Capital Alliance (CAL), has created history by becoming the only broker to register an account digitally with the Colombo Stock Exchange (CSE) for the first time in Sri Lanka. 

Fifth Capital Market Conference on Feb. 21

The fifth Annual Capital Market (CAPM) Conference, organised by UTO EduConsult in conjunction with KPMG and Adl Capital as the key knowledge partners, will be held for the fifth consecutive year on February 21, 2017.

Pathfinder convenes ‘Trincomalee Consultations’ regional conference

The Pathfinder Foundation (PF) will convene ‘Trincomalee Consultations’, a two-day conference participated by the countries in the Bay of Bengal, which are dependent on the bay for their trade and other interactions. 

Dialog fourth quarter profit doubles amid strong mobile revenue

Sri Lanka’s leader in mobile telecommunications services, Dialog Axiata PLC (Dialog), doubled its December quarter (4Q16) net profits to Rs.1.25 billion or 15 cents a share in spite of some hefty net finance costs resulted from higher borrowings, the interim results showed. 

Japanese firm invests US $ 1mn in 700kW mini hydro project in Erathna

Zero Plus Co. Ltd, a Japanese firm with interests in cosmetic production, mail-order business and fitness, has invested US $ 1 million in a 700 kilowatt (kW) mini hydro project in Erathna, Ratnapura. The project,

Sri Lanka launches tender to develop natural gas site in Mannar Basin

REUTERS: Sri Lanka has launched a tender to develop a gas block in the Mannar Basin off its northwest coast, vacated when Cairn India pulled out of an exploration project in 2015 as oil prices plunged.

Bogala Graphite doubles profit in December

The vein graphite supplier, Bogala Graphite Lanka PLC, nearly doubled its net profit for the quarter ended December 31, 2016 (4Q16) to Rs.24.23 million from Rs.12.44 million recorded during the corresponding quarter in 2015 amid higher top line growth and gains form an income tax reversal. The earnings per share increased to 26 cents from 13 cents year-on-year (YoY). The company shares were trading at Rs.12.80 at trading close yesterday.

Top brush maker Beira group announces Rs.368mn IPO

The leading brush manufacturer, BPPL Holdings, also known as the Beira group, will be opting for a Rs.368.22 million initial public offering (IPO) on the Diri Savi Board of the Colombo Stock Exchange (CSE) next month.

Top brush maker Beira group announces Rs.368mn IPO

The leading brush manufacturer, BPPL Holdings, also known as the Beira group, will be opting for a Rs.368.22 million initial public offering (IPO) on the Diri Savi Board of the Colombo Stock Exchange (CSE) next month.

Haycarb profits surge 23% despite supply challenges

The pioneering coconut shell-based activated carbon manufacturer, Haycarb PLC, reported earnings of Rs.7.08 per share for the October – December quarter 2016, up from Rs.5.74 a share reported a year ago despite the continued cost pressure stemming from the shortage of charcoal supplies.

Shares hit more than 1-week closing high; blue chips gain

REUTERS:Sri Lankan shares hit a more than one week closing high yesterday as investors picked up battered blue chips such as John Keells Holdings PLC and Dialog Axiata PLC, brokers said. The Colombo stock index ended 0.73 percent firmer at 6,138.73, its highest close since February 2. The index hit its lowest closing level since March on February 6.

Lanka Sathosa introduces modern technology to expansion plan

The state-owned retail chain Lanka Sathosa, which caters to low-income families, will be introducing modern technology to its previously announced expansion, Industry and Commerce Minister Rishad Bathiudeen said.

Pan Asia Bank partners Japan Expo Premier 2017

Pan Asia Banking Corporation PLC, Sri Lanka’s fastest growing commercial bank, was the banking partner for the recently concluded Japan Expo Premier 2017 exhibition. The exhibition was held from February 2 to 4, 2017, at the Bandaranaike Memorial International Conference Hall (BMICH), backed by the Embassy of Sri Lanka (Tokyo) and Embassy of Japan (Sri Lanka).

Navin in talks to secure greater Russian market for Ceylon tea

During the recently held PRODEXPO International Exhibition in Moscow,