LOLC Finance sets benchmark in Sukuk issuances in South Asia

LOLC Finance PLC has successfully issued a Rs. 500 million (US$3.37 million) Sukuk from the domestic market, setting a precedent for corporate Sukuk issuances in South Asia. 

Ceylon Hotels Corp. seeks shareholder nod to write off losses exceeding Rs.1bn

Ceylon Hotels Corporation PLC (CHC), an operator of rest houses and resorts is seeking the shareholder nod to write off its accumulated losses which are to the tune of over a billion rupees against the shareholders’ fund in a major capital restructure, the company said in a stock exchange filing. 

VAT could have delivered double whammy: top retailer

Implementation of the currently overturned Value Added Tax (VAT) bill would have had a double impact on retailers with dampened demand as well as the creation of a grey market, a leading diversified group in the country said.

Mabroc Bubble Tea flagship store launched with unique range of bubble teas

The concept of Bubble Tea which originated in Taiwan has found its way across the world and has been brought to life in Colombo with Mabroc Teas recently unveiling their flagship bubble tea store at the basement food court of Colombo’s premier shopping destination, Liberty Plaza. 

Can China help shape global governance at G20?

At the end of the twentieth century, China was an observer of global governance, on the sidelines of the G7 and not yet a member of the World Trade Organisation (WTO). Encouraged by Western countries to embrace global governance, China has become much more proactive in pushing global cooperation since the G20 was founded. As president of the G20 for 2016, China has an unprecedented opportunity to provide impetus to global development.

Arpico elevates unique offering to cyberspace with ‘e Supercentre’

Shopping at Arpico has moved into the realm of cyberspace with the launch of the retail giant’s ‘e Supercentre’ – a sophisticated online shopping portal accessible 24 hours of the day from anywhere in the world.

St. Anthony’s Group-Jinasena ink deal on market expansion

Two of the country’s largest family owned business groups Jinasena Ltd and St. Anthony’s Industries Group (Pvt) Ltd recently signed a Memorandum of Understanding (MOU) that would enable each other to utilize key competencies acquired over time, in their individual industrial value chains for mutual benefit.

Sri Lanka’s leading fresh milk producer ‘Daily’ marks 20 years

‘Daily’ one of the pioneers in Ultra Heat Treatment (UHT) fresh milk production celebrated its  20th anniversary recently at a grand function held recently at Heritance Negombo.

Browns Thermal Engineering unveils first service centre in Colombo

Browns Thermal Engineering (Pvt) Ltd (BTEL), recently opened their new premises at a strategic location on Darley Road.

JKH Group companies shed shares for Keells Foods to meet free float rule

John Keells Holdings PLC and its subsidiaries last week sold 413, 408 ordinary shares of Keells 

Customs to window-shop for scanners

Sri Lanka Customs officials will be travelling to regional economies to evaluate potential customs scanning systems to be installed in Sri Lanka.

Tax hike likely to cost CPC, LIOC bottom lines dearly

A four-fold increase in the diesel production tax is likely to impact the bottom lines of the country’s two petroleum companies in an extremely adverse manner, a stock 

CB to keep rates steady as inflation, credit growth ease

REUTERS: The Central Bank is expected to keep its key interest rates steady at a policy review 

Ananda Atukorala appointed NDB Chairman

National Development Bank PLC (NDB) on last Friday announced the appointment of Ananda Atukorala as the bank’s new Chairman, subject to Central Bank approval.

HSBC local unit 1H profit flat as margins fall, other incomes decline

The local unit of The Hongkong and Shanghai Banking Corporation Limited (HSBC) saw its net profits 

SL wants Indian subcontinent firm involved in US $400mn port contract

REUTERS: Sri Lanka is seeking a consortium that must include a company from the Indian subcontinent to bid for a $400 million contract to build a port terminal, the ports minister said last 

Inaugural Premier Pavilion to feature at FACETS this year

The 26th edition of Facets, Sri Lanka’s main gem and jewellery show, to be held from the 1st to the 4th of September, will witness the launch of a Premier Pavilion. 

Kuwait Airways awarded ‘Most Improved Airline’ Award for year 2015

Kuwait Airways the national carrier of the State of Kuwait has been awarded the prestigious recognition 

Top dairy operator wants more land, cows to meet local demand

Leading local dairy industry operator said last week that he needs more land and dairy cows to meet the demand for fresh milk in the country.

Renowned industry experts to provide career guidance at EDEX Expo

The EDEX Mid-Year Expo & Job Fair will take stage on September3-4 at the Sri Lanka Exhibition and Convention Centre (SLECC) Colombo.

Sixteenth ‘Construct 2016’ exhibition ends on high note

‘Construct 2016’ the number one and the most sought after exhibition is to take off with much 

IAHR APD Congress to kick-start in Colombo today

The 20th Congress of the International Association for Hydro Environment Engineering Research – Asia Pacific Division (20th Congress of IAHR APD) will be held at Galadari Hotel Colombo from 

Sony introduces new Android TV range to Sri Lanka

Offering ultimate picture quality, Sony introduced its latest 4K HDR Ultra HD TV range to the Sri Lankan consumers recently.

Breeders complain cost of raising chicken high, not chicken feed

Annual per capita consumption of chicken in Sri Lanka, which was barely 2.5 kg a decade ago, has 

CIC Holdings introduces ‘Precision Agriculture’ for Lankan farmers

CIC Holdings PLC will be introducing ‘Precision Agriculture’ (PA), a smart agriculture concept to SrI Lankan farmers as part of its CSR initiative.

Perfetti Van Melle introduces ‘Alpenliebe Creamfills’

Confectionery giant Perfetti Van Melle (PVM) Sri Lanka recently introduced Alpenliebe Creamfills, the latest addition to its extensive local confectionery portfolio.

Haycarb wins top export accolade at Presidential Export Awards

Haycarb PLC, the globally-renowned Activated Carbon Products and Solutions sector of the Hayleys Group was conferred with a Presidential Award for its immense contribution to the development of Sri 

Top academic urges need for high-value agriculture for industry sustainability

A national agriculture policy directed towards shifting from traditional, low-value agriculture to modern, 

Johnson’s Baby sponsors Pediatric Nursing Congress

The 8th Pediatric Nursing Congress of the Sri Lanka College of Pediatricians and Pediatric Nursing 

Good financial discipline kept prices under control: Ravi K

Most of the essential food items are freely available in the market today at considerably lower prices