Three local companies on Forbes ‘Asia’s 200 Best Under a Billion 2016’

Three Sri Lankan companies have been listed in the Forbes ‘Asia’s 200 Best Under a Billion 2016’.

Piramal Glass to close down factory for Rs.3bn upgrade

Glass bottle and container manufacturer Piramal Glass Ceylon PLC, a unit of India’s Piramal Group, 

CCC calls applications for ‘Best Corporate Citizen Sustainability Award 2016’

The Ceylon Chamber of Commerce (CCC) is calling applications from corporate firms to compete in the “Best Corporate Citizen Sustainability Award 2016”, an annual competition which recognises the 

Exterminators celebrates 18th year of excellence

Sri Lanka’s pest management company, Exterminators Pvt. Ltd celebrated its 18th year of recently. 

LOLC to raise US $ 150mn via Singapore listed bonds

Lanka Orix Leasing Company (LOLC) yesterday said it would be setting up a multi-currency medium 

Colombo Port’s new warehouse to be opened today

Colombo Port has taken several steps to expand warehouse facilities. Under the first phase, Sri Lanka Ports Authority stated that warehouse CFS 01 which was constructed, is to be opened by the 

Hela Clothing joins IFC’s Trade Supplier Finance Programme

IFC, a member of the World Bank Group, has partnered with leading local apparel manufacturer Hela Clothing (Pvt.) Limited to boost trade opportunities for Sri Lanka’s apparel industry through a trade-

King Long Luxury Coaches partners with Mobil Lubricants

McLarens Lubricants Limited, the sole distributer for ExxonMobil Lubricants in Sri Lanka, has entered into a strategic partnership with Softlogic Automobiles as their exclusive lubricant supplier for King 

CMA Sri Lanka admitted as CAPA member

CMA Sri Lanka has been admitted as a member of the Confederation of Asian and Pacific Accountants (CAPA) on July1, the Confederation of Asian and Pacific Accountants announced.  

Malik and Indrajit to speak at CIMA Business Leaders Summit

The CIMA Business Leaders Summit will be held on 23 and 24 August, under the patronage of Malik 

Dialog 2Q net up 20% but VAT and floods slow growth

Sri Lanka’s leading telecommunication service provider, Dialog Axiata PLC posted a net profit of Rs.2.29 billion or 28 cents a share for its June quarter (2Q16) recording an increase of 19.9 percent from a year ago.

Hayleys Fibre to make substantial gains with sale of Ekala property

The Hayleys group’s premier manufacturer and exporter of coconut fibre-related products, Hayleys Fibre PLC, is said to make substantial gains from the disposal of its freehold property in Ekala, Ja-Ela to a group subsidiary. 

Rocell to exit paints biz following proposed sale of Colobrite

Market leader in tile and bathware industry Royal Ceramic PLC, which entered the country’s paint market five years ago, is planning to divest its paints manufacturing facility, marking an exit from the business, Mirror Business learns. 

Tokyo Cement in deal with Japan’s Ube Industries

Sri Lankan cement manufacturer Tokyo Cement Group said it has struck a deal with Japan’s Ube Industries Ltd for technical support and import raw materials to make high-quality cement. A statement said the deal was signed on August 1, 2016.

Agalawatta share sale—the plot thickens

Agalawatta Plantations PLC yesterday in a stock market filing said it was notified that the sale of 60.80 percent of its shares by Mackwoods Plantations (Pvt.) Ltd for Rs.304 million was executed with the approval of the two shareholders of the latter.

Expolanka June net profit falls 18%; top line up 7%

Expolanka Holdings PLC, a unit of Singapore-based SG Holdings—the holding company of Japan’s Sagawa group—saw its net profit for the June quarter (1Q17) falling 18 percent year-on-year (YoY) to Rs.182.3 million amid non-cash write down in passive investments and higher administrative expenses.

Lanka IOC slashes prices of own fuel varieties

Sri Lanka’s only private oil company that operates fuel retail outlets, Lanka IOC PLC said it was reducing the prices of two of its own fuel brands from midnight, yesterday.

Rupee edges down in dull trade

REUTERS: The Sri Lankan rupee ended slightly weaker in dull trade yesterday due to mild importer dollar demand, but the fall was capped as dealers were reluctant to trade below 145.60 levels fearing intervention by the Central Bank, dealers said. 

SL–Canada Biz Council President emphasizes importance of attracting FDIs to Sri Lanka

The 24th Annual General Meeting (AGM) and the 25th anniversary celebrations of the Sri Lanka – Canada Business Council of the Ceylon Chamber of Commerce were held recently at the residence of High Commissioner for Canada in Sri Lanka Shelley Whiting. 

Laya Beach Wadduwa offers 30% off on two-night getaways

Idyllic Laya Beach Wadduwa, just a very short, 30-minute drive from Colombo, is always a great option for a quick escape, with plenty of sun, sea and sand to go around for those interested in a spectacular stay without the hassle of unnecessary travel. 

Top WTO official to address the Human Capital Summit

Marcio Favilla will do the keynote address for the Tourism Pillar on the 12th of August, one of the four growth sectors identified. Favilla is currently Executive Director for Operational Programmes and Institutional Relations at the World Tourism Organization (UNWTO). Between January 2010 and December 2013 he held the position of UNWTO Executive Director for Competitiveness, External Relations and Partnerships. 

Pro Food/Pro Pack & Ag-biz expo to kick off on August 12

Pro Food/Pro Pack & Ag-biz 2016, Sri Lanka’s only comprehensive food, agriculture and packaging exhibition will be held for the 15th consecutive year from August 12 to 14, 2016 at the Sirimavo Bandaranaike Memorial Exhibition Hall (BMICH). 

Union Bank continues to empower local exporters

Union Bank recently announced its partnership as the Premium sponsor of the Annual Export Awards organized by the National Chamber of Exporters of Sri Lanka for the 24th consecutive year. 

Lean Transformation Summit to kick start in Colombo next month

Institute of Lean Management (ILM) flagship event, the International Lean Transformation summit will be held on 27th and 28th September at the Galadari Hotel Colombo on the theme of “Inculcating Lean Thinking for Better Tomorrow” 

FCCISL attends BIMSTEC Business Forum in New Delhi

The seventh meeting of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Business Forum was held at Hotel Shangri La, New Delhi recently.  BIMSTEC involves a group of countries in South Asia and South East Asia. The countries are Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan and Nepal. 

PickMe wins mBillionth Award 2016

PickMe, Sri Lanka’s very own start up mobile taxi hailing serviceprovider was honoured with the mBillionth award by the Digital Empowerment Foundation (DEF).  

Rayban’s latest collection at Eric Rajapakse Opticians

From the timeless Wayfarer design to the latest Round Fleck designs, Rayban sunglasses are on promotion at Eric Rajapakse Opticians. Dilanka Herath,  Rayban Product Manager of Global Vision has re-appointed Eric Rajapakse Opticians as authorised distributor, ensuring the authenticity and quality of the products. 

Emerald launches ‘Win With Emerald’ campaign for 60th anniversary

In celebrating the 60th anniversary of Sri Lanka’s number one brand in men’s shirts, Emerald is offering its loyal customers cash prizes worth Rs.6 million when purchasing an Emerald shirt.  

Former war-torn regions’ economic growth bypasses rest in 2015

Sri Lanka’s former war-torn Northern and Eastern provinces have emerged as the fastest growing 

Overseas Realty June quarter net up; rental income down

The local unit of the Singapore based real-estate group, Overseas Realty (Ceylon) PLC (OSEA) group