Chevron Lubricants 4Q profits up despite higher tax expenses

?Chevron Lubricants Lanka PLC, the local unit of US-based multinational, saw its December quarter (4Q15) net profit increasing 28 percent year-on-year (YoY) to Rs.713.3 million, the interim financial accounts released to the Colombo bourse showed.

Mini-hydropower producers get all-time high tariffs from CEB

?The Ceylon Electricity Board (CEB) has decided to offer by far the highest supplier tariff for mini-hydropower producers for a unit of energy purchased for 2016 with retrospective effect from 2015, according to a research arm of a stock brokerage. 

Tea industry brews lowest output in three years

Sri Lanka’s 2015 tea production declined to a three-year low of 328.96 million kilogrammes (Mkg). Statistics released by the Sri Lanka Tea Board (SLTB) 

Fonterra Brands Lanka on massive expansion mode

?The global dairy industry leader’s local subsidiary Fonterra Brands Sri Lanka will be opening a Rs.117 million demonstration and training farm in Pannala next month. “As we move forward, we see opportunities to increase our commitments here.

Treasury likely to miss revenue targets from vehicle imports

The Treasury is likely to miss its highly optimistic revenue collection target from motor vehicle imports due to a myriad of issues, an economist and the head of a Colombo-based brokerage and research house pointed out. 

Selling at JKH; EPF suspected

?It was in the grapevine yesterday that the state-controlled private sector pension fund, the Employees’ Provident Fund (EPF), had been selling top blue-chip John Keells Holdings PLC (JKH) shares, dragging the share price as well as the entire market down. 

Aitken Spence to buy hotel in Oman

?Leading blue-chip conglomerate Aitken Spence is in the green to purchase Al Falaj Hotel in Oman, which it had managed up to now, for 14 million Omani rials, foreign news reports said. 

Towards sustainable wildlife tourism

?Sri Lanka Tourism took the first step in addressing one of the tourism industry’s major concerns and its impact on wildlife tourism by hosting a lecture on the theme “CITES and wildlife trade – What CITES does and how it links to wildlife tourism” at The Galle Face Hotel on Monday (25) evening.

Millennium Housing unveils “The Heights” today

The ground breaking ceremony of the naugural high rise project of Millennium Housing Developers PLC, ‘The Heights,’ will take place today at 9.10 am at the site. 

CIMA corporate partners launch 2016 today

?CIMA, the Chartered Institute of Management Accountants will launch its 10th Corporate Partners Programme under the theme ‘Pioneering the Beat of National Change’ on 27 January at the Atrium Lobby, Cinnamon Grand.  

Ceylon Chamber seminar on biomass energy

?Ceylon Chamber of Commerce, the country’s premier business chamber will conduct a seminar on Sustainable Biomass Energy Production and Modern Bio Technologies in a bid to help the government’s drive towards increasing the production of biomass based energy sources in the Island.

His Ministry to restructure rather than run public enterprises, Kabir Hashim tells OBG

?The culture in Sri Lanka around public sector service delivery was one of several issues discussed in a recent interview that the Public Enterprise Development Minister Kabir Hashim gave to the global research, publishing and consultancy firm Oxford Business Group (OBG).

Nolimit unveils ‘Pink Elephant’ brand

?Nolimit, ‘the choice of every Sri Lankan’ and the country’s biggest fashion chain, launched its new brand - Pink Elephant -  which embodies Sri Lankan identity and tradition with a collection of fashion clothing, accessories, footwear, homeware, stationery and souvenirs. 

Maliban launches ‘Melko’ full cream milk brand

?Maliban Milk Products (Pvt.) Ltd has launched the much-awaited full cream milk powder brand Maliban Melko for the Sri Lankan consumer.

Monetary Board keeps policy rates unchanged

The Monetary Board of the Central Bank yesterday decided to keep the current policy rates unchanged with its last monetary action mopping up some excess liquidity in the domestic money market and still being transmitted to the macroeconomy. 

December motor vehicle registrations slow down

?Vehicle registrations for December 2015 declined both year-on-year (YoY) and compared to the past few months, as the number of letters of credit (LCs) opened may have declined over the uncertainty that prevailed discouraging importers.  

Sri Lanka ranked 14th in 2016 global offshoring index

Sri Lanka has been ranked in the 14th position on the 2016 A.T. Kearney Global Services Location Index (GSLI). The country moved up by two points this year from 2015 on the index...

Laugfs group unit Lfinity launches online retail store with delivery options

?Lfinity (Pvt.) Limited, a unit of Laugfs group, recently announced the launch of its highly anticipated virtual hyper mall, ‘clickNshop.lk’, providing a broad range of high-quality products together with some exciting discounts.

Will GSP Plus have same upshot it used to have on Lankan exports?

A leading economist recently cast doubts over the immediate or medium-term benefits regaining the coveted General System of Preferences (GSP) Plus from the European Union (EU) could bring in for the country’s export sectors.  

Rebound in oil prices not entirely negative for SL: StanChart

Standard Chartered Bank’s (StanChart) global research team sounded bullish on the currently volatile oil prices reaching US $ 70 per barrel towards the end of the year, a development, according to its analysts, would not entirely be negative to Sri Lanka.

Kandurata socks continue to occupy top slot in Lankan market

?Sri Lanka’s leading socks manufacturer and marketer Kandurata Umbrella Industries (Pvt.) Ltd is leading the way among all the Lankan manufacturers who contribute to the country’s economy. 

SDF hosts financial literacy workshops for small business entrepreneurs

?Sarvodaya Development Finance Limited (SDF) recently hosted workshops on financial literacy for small business entrepreneurs who had obtained financing facilities from the company in the areas of Balangoda, Ratnapura, Anuradhapura, Kandy and Gampaha. 

India’s MBD group donates A-level science books to CMC libraries

The MBD group of India recently donated important Advanced Level science books to the Colombo Municipal Council (CMC) in celebration of its 150th anniversary this year. 

Aitken Spence Printing and Packaging renews CarbonNeutral certificate

Aitken Spence Printing and Packaging (Pvt.) Ltd, Sri Lanka’s premiere printing and packaging firm, reiterated its commitment to sustainability by renewing its CarbonNeutral certification.

UA’s ‘Union Manushyathwaya’ spreads goodness

?Continuing in its tradition of spreading health, wellness and goodness, among communities across the country, the team behind Union Assurance (UA) corporate social responsibility (CSR) initiatives were able to close out 2015 having influenced countless lives for the better. 

CMA shows love and care for Mallika Home children

?The staff of the Institute of Certified Management Accountants (CMA) Sri Lanka recently undertook a project to provide love and care for the children at the Mallika Home on Visakha Road.

CIMA to deepen state sector ties for better governance

The Sri Lankan division of the world’s largest professional accounting body for management accountants, the Chartered Institute of Management Accountants of United Kingdom ...

YMF of Ceylon Chamber holds AGM

?The Young Members forum (YMF) of the Ceylon Chamber of Commerce (CCC) held its Annual General Meeting (AGM) of the year 2016 recently, which saw the appointment of a new committee, which will spearhead its operations during this year.

Ceylon Chamber to compile SME registry to help find business partners

?The Ceylon Chamber of Commerce, the country’s premier business chamber, has started to collect data from small and medium enterprises (SMEs) spread across the country in order to compile a new SME Registry. 

Sri Lanka to apply for GSP Plus next month

The Sri Lankan government is likely to make its formal application for the European Union’s (EU) General System of Preferences Plus (GSP Plus) facility next month, following Prime Minister Ranil Wickremesinghe’s return to the country from his exploits in Davos, Switzerland.