Finlays shareholders give nod for CSE delisting at EGM

The shareholders of Finlays Colombo PLC have given the nod to delist the company from the Colombo Stock Exchange (CSE) at an Extraordinary General Meeting held yesterday.

Cargills Bank still in red despite attempts to grow lending book

The banking arm of the Cargills group, Cargills Bank Limited (CBL) recorded a net loss of Rs.78.7 million for the quarter ended September 30, 2015, slightly improving from Rs.79.5 million loss recorded in the same quarter last year, the interim results showed. 

Smart Future, Global Shapers, IIT mark GEW 2015 today

As over 160 countries mark Global Entrepreneurship Week 2015 (GEW), budding Sri Lankan job creators will come together to discuss what it takes to be an entrepreneur at a forum today.

People’s Bank-Inland Revenue sponsor ‘National Budget Seminar 2016’

?People’s Bank recently stepped forward as the principal sponsor of the upcoming ‘National Budget Seminar 2016’, which is organised by the Inland Revenue Department for the 11th consecutive year.

Unilever Alumni Association to hold AGM and Fellowship 2015

?The first Annual General Meeting (AGM) of the Unilever Alumni Association will be held on Saturday, December 5, 2015 at Grand Oriental Hotel Lotus Ball Room, Fort commencing at 6:00 p.m., followed by a fellowship dinner of the Unileverites and their spouses from 7:00 p.m. onwards.

‘Engineering Tomorrow: A Southern Asia’ event this Friday

?The Institution of Mechanical Engineers (IMechE) Southern Asia Region would be hosting the “Engineering Tomorrow: A Southern Asia” event for the young engineers of the constituting countries, to be held in Colombo.

National Chamber to hold session with Netherlands Ambassador

?A session on ‘Bilateral trade between Sri Lanka and  Netherlands’ will be held on Friday, November 27, 2015, from 3:00 to 4:30 p.m., at the chamber auditorium at No: 450, D R Wijewardene Mawatha, Colombo 10.  

Overregulation of tobacco, liquor industries won’t bring desired results: CTC official

Overregulation and excessive taxation of the tobacco and liquor industries will cause the opposite of the desired effect, Ceylon Tobacco Company PLC (CTC) Corporate and Regulatory Affairs Director Dinesh Dharmadasa cautioned the government.

Budget to avoid tough choices as risks mount

?Sri Lankan Finance Minister Ravi Karunanayake will seek to boost tax revenues and rationalise spending in the new government’s first full-year budget tomorrow, but analysts see him showing little commitment to fiscal consolidation.

New directors no impediment to Grand Hyatt construction: ministry

?Public Enterprise Development Ministry yesterday in a statement assured that despite the appointment of a new director board, the construction work of the Grand Hyatt Hotel project would proceed unimpeded.

Asiri group takes full control of Central Hospitals Limited

?Asiri Hospital Holdings PLC yesterday said it upped its stake in Central Hospitals Limited (CHL) with the purchase of 9.49 percent shares, increasing its hold of the entity to 77.62 percent.

Access Engineering buys university property

?Diversified Access Engineering PLC announced that it acquired a 92 percent stake in Horizon Knowledge City Ltd this week for Rs.575 million.

Bogala Graphite weighing options to remain as listed entity

?Bogala Graphite Lanka PLC, one of the world’s largest exporters of vein graphite, is currently considering its options in remaining as a listed entity on the Colombo Stock Exchange, pursuant to the minimum public float rules.

Sujeewa meets Korean business delegation

International Trade State Minister Sujeewa Senasinghe met a Korean business delegation at his ministry at the World Trade Centre, Colombo recently.

idac celebrates 25th anniversary

Celebrating its 25th anniversary, idac Pvt. Ltd., authorized dealer and distributor for Daikin Japan, passed yet another significant milestone in its journey of continual growth in the industry.

Interest Free installment plans at Abans with Amex

As the end of the year approaches and festivities draw nearer, Nations Trust Bank American Express Cardmembers will be in the privileged position of being entitled to a multitude of savings this festive season. 

HSBC in exclusive tie up with Singer for festive season

Singer Sri Lanka PLC, the largest retailer of consumer durables in the country, announced its exclusive partnership with HSBC to extend seasonal savings and 0 percent interest free schemes across all its product categories to HSBC credit cardholders, until 31 December 2015. 

Quintessentially Lifestyle Christmas Atelier

This December will see the launch of the first-ever Quintessentially Lifestyle Christmas Atelier in partnership with Land Rover. The most exclusive brands will come together under one roof to offer the most luxurious and convenient shopping experience of the season.

Heladiv awarded Gold Star at Lanka Star 2015

HVA Foods PLC, one of Sri Lanka’s fastest growing export companies, won the Gold Star award for the ‘Heladiv Gift Box’ at this years’ Lanka Star award ceremony that was held at the Kingsbury Hotel, Colombo recently. 

PhotoHub launches Canon XA35, XA30 camcorders

Metropolitan PhotoHub Pvt Ltd announced the launch of the Canon XA35 and XA30 compact professional-use Full HD video camcorders, which employ a newly developed CMOS sensor making possible exceptional high-sensitivity imaging performance and a wide range of imaging expression possibilities. 

Marmite Cocktails and Mocktails set to take Colombo’s beverage circuit by storm

Just when one thought that Marmite does magical things to food alone, comes news of yet another revolution in Sri Lanka’s food and beverage industry as Unilever Sri Lanka launches a cocktail and mocktail inspired by Marmite. 

Business Today Top 25

John Keells Holdings PLC was able to secure its number one spot at the Business Today Top 25 held last evening, reiterating the group’s remarkable standing in the Sri Lankan corporate sector.

Laugfs inks agreement with Chinese firm to build US$ 80mn LPG terminal in Hambantota

Laugfs Terminals Limited, a subsidiary of Laugfs Gas PLC yesterday signed an agreement in Colombo with the China Huanqiu Contracting and Construction Corporation (HQC) to construct the Laugfs LPG (Liquid Petroleum Gas)

Colombo’s bus and 3-wheeler services: Logistics expert calls for public pressure to regulate sector

The public should pressure the government to regulate Colombo’s bus and 3-wheeler services, an expert said at a recent forum.

Govt. mulling FTAs with Singapore, US

The government is considering starting negotiations on a free trade agreement (FTA) with Singapore as a part of its strategy to increase Sri Lanka’s global competitiveness.

Credit profiles of listed plantation companies to further weaken: Fitch

Stricken credit profiles of Sri Lanka’s listed tea plantation companies will further dampen with slumping prices and soaring wages continuing to challenge the progress of the entities, an international rating agency said. 

BoC 3Q net up 8% over massive loan growth, asset quality erodes

The state-owned banking giant, Bank of Ceylon (BoC) group posted a net profit of Rs. 5.7 billion for the quarter ended September 30, 2015 (3Q15), up 8.3 percent from a year ago, on the back of a strong growth in its lending book but the asset quality weakened, the interim results showed.

EU hails Sri Lanka’s recent progress in implementing Human Rights, labour and environment conventio

Sri Lanka received much praise from the EU’s latest council meeting where it has been indicated that the country has been successful in paving the way for greater engagement that would help boot economic prosperity.

Dr. Senthilverl buys 10% stake in Panasian Power

?High net worth investor Dr. T. Senthilverl has invested in a 10 percent stake in mini hydropower producer Panasian Power PLC.

People Bank’s 2.7mn shares in Asiri Hospitals change hands

Asiri Hospitals Holdings PLC yesterday saw 2.7 million of its shares at Rs.25 cross at the Colombo Stock Exchange (CSE) yesterday, which happens to be the exact stake of the entity held by state-owned People’s Bank.