ACL Cables unveils superior ceiling fans to Lankan market

ACL Cables PLC recently unveiled a superior range of electric ceiling fans to the local market. Recognized as the pioneer in Sri Lanka’s cable industry since 1962, ACL Cables are committed to creating high-quality products that meet the diverse needs of its customers. 

SLT rings 4Q loss amid higher costs, forex translation losses

S r i L a n k a ’s l e a d i n g telecommunication services provider, the Sri Lanka Telecom PLC (SLT) group, turned 

Singer in Rs.2bn listed debt issue

Singer (Sri Lanka) PLC is to raise Rs.2 billion by way of a debenture issue and has received the approval

Ravi K meets Senior German Minister

Finance Minister Ravi Karunanayake on Tuesday met Senior German Minister Dagmar Gabriele Wöhrl at his ministry premises

Ravi K meets Senior German Minister

Finance Minister Ravi Karunanayake on Tuesday met Senior German Minister Dagmar Gabriele Wöhrl at his ministry premises

FinMin says inflows could help rupee appreciate to Rs.110

Finance Minister Ravi Karunanayake recently said the rupee could appreciate to Rs.110 against the US dollar if 

Fitch cuts ratings of banks, non-bank lender and insurer over sovereign downgrade

Fitch Ratings yesterday downgraded the Issuer Default Ratings (IDR) of Bank of Ceylon (BOC) and National Savings Bank (NSB) to ‘B+’ from ‘BB-’ and downgraded the IDRs of People’s Leasing & Finance

Twelve-month treasury bill yields hit 9%

Treasury bill yields rose at yesterday’s bill auction with 12-month bill yields hitting 9 percent, up 50 basis points 

High-profile TUI team in town; major boost to Lankan tourism

A high-profile delegation of TUI, the world’s number one integrated tourism group, headed by Group CEO Fritz Joussen, will be visiting Sri Lanka today (Thursday). Organised by its joint venture partner Aitken 

Access Engineering rehabilitation work in six wastewater pump stations advances

Access Engineering PLC is making significant headway in the rehabilitation work of the wastewater pump stations in Dehiwala, Mt. Lavinia and Kolonnawa under the Greater Colombo Wastewater Management Project. 

Overseas Realty December profits up 13% to Rs.875mn

The local unit of the Singapore-based real estate company – Overseas Realty (Ceylon) PLC (OSEA) – increased its December quarter (4Q15) net profits by 13 percent year-on-year (YoY) to Rs.874.5 million despite the revenues recognized from the apartment sales falling sharply, the interim results showed.  

Kodak Alaris commences Information Management Partnership Yatra

Kodak Alaris, the most sought after brand in the global Information Management space, in a tactical move to grow and expand its 

Arpico’s Rigifoam celebrates 50th anniversary

RPC Polymers Pvt Ltd, manufacturers of polystyrene products under the Rigifoam brand recently celebrated 50 successful years of operations. 

Rating cuts on SriLankan bonds, SLT’s IDRs over sovereign downgrade

Fitch Ratings yesterday downgraded Sri Lanka Telecom PLC’s (SLT) long-term foreign- and local-currency Issuer Default Ratings (IDRs) and state-run SriLankan Airlines’ government-guaranteed bonds to ‘B+’ from ‘BB-’.

Mountain Dew launches massive marketing drive with revamped look

Mountain Dew, a Carbonated soft drink entered the Sri Lankan store shelves recently with a revamped look, introduced by  Varun Beverages Lanka (Pvt.) Ltd which distributes Pepsico products in the country.

Canon EOS-1D X Mark II redefines professional still and 4K video imaging

Canon launched the EOS-1D X Mark II, the new Canon flagship professional EOS DSLR model and long-awaited successor to the EOS-1D X. 

Workshop on non-tariff measures, Indian standards and regulations under ISFTA

The Commerce Department, under the patronage of the Development Strategies and International Trade Ministry and in collaboration with the Indian High Commission is organising a workshop to improve the awareness of the exporter community on the non-tariff measures and the Indian standards and regulations applicable to Sri Lankan exports.

Employers’ Federation launches National Network of Youth Initiatives

The Employers’ Federation of Ceylon (EFC) launched its Employers’ National Network of Youth Initiatives (ENNYI) at the EFC premises, recently. 

ETCA will cause no harm to local industries: State Min.

State Minister of International Trade Sujeewa Senasinghe said the proposed  Economic and Technology Cooperation Agreement (ETCA) with India, was aimed at developing the country’s economy and not to fulfil any hidden political agenda.

Bangladeshi firms eyeing CSE listings

Bangladeshi companies are also inquiring from the Colombo Stock Exchange the possibility of listing their companies in the bourse, a top official said yesterday. “Bangladeshi companies are slowly asking us ‘can we list here?’” CSE Chairman Vajira Kulatilaka said.

MTI’s ‘idea2fund’ attracts 250 ideas to fund

A total of 250 potential start-ups and scale-ups have applied for the first round of MTI’s ‘idea2fund, the deadline for which was 29th February 2016. 

NSB directors appointed to Entrust board

The directors of state-owned National Savings Bank have been appointed to the board of troubled Entrust Securities PLC, under a Central Bank directive.

Two Lankan firms ink agreements with NZ counterparts

Two Sri Lankan private sector companies have entered into business arrangements with two New Zealand business giants, following the recent visit of New Zealand Prime Minister John Key. 

Japan’s Sojitz Corp buys major stake in Kelanitissa

Japanese industrial giant Sojitz Corporation has bought over 90 percent of the shares of Kelanitissa Private Limited, which owns the 163MW Kelanitissa fossil fuel power plant.

Customs Dept. sets up 24/7 hotline to provide speedy solutions

The Sri Lanka Customs Department has begun operating a 24/7 customer hotline to help solve any customs issues within 8 days.

MoneyGram partners 2016 ICC World Twenty20 as Official Sponsor

The global provider of innovative money transfer and payment services, MoneyGram, has been named an official sponsor of the upcoming 2016 ICC World Twenty20 Tournament, and in line with this, has launched the ‘MoneyGram Bowling Challenge’ – an exciting competition that will give Sri Lankan cricket fans a chance to win tickets to the T20 matches. 

Schueco India announces new partnership with Asoka Glass & Mirror

In a recent geographic expansion for Schueco India operations in another country, Schueco has tied-up with Asoka Glass & Mirror. 

Maxxis Tyres t3 holds dealer convention

Maxxis  Tyres t3 2015 award ceremony and the dealer convention was held on 27th February at The Kingsbury Colombo, with over 275 dealers participating at the event. The winner, the best dealer with highest performance in 2015 was Ravindra Premathilaka of Ravindra Lanka Auto service (Pvt) Ltd.  Here the winner receiving the award from Dr. Wally Y H Chen, President Maxxis International.  Lenny H K Lee, Maxxis Global Marketing Directo

Nestlé opens new milk chilling centre, contributes nearly Rs. 4 bn to dairy industry

Nestlé, Sri Lanka’s largest private sector collector of fresh milk, has contributed Rs. 3.6 billion to almost 20,000 local farmers as payment for fresh milk, to manufacture its products like Nespray, Milo and Milkmaid. 

Access Engineering making headway in rehabilitating six waste water pump stations

Access Engineering PLC is making significant headway in the rehabilitation work of the wastewater pump stations in Dehiwala, Mt. Lavinia and Kolonnawa under the Greater Colombo Wastewater Management Project.