Abans Electricals – The service pillar of Abans group

Established in 1976, Abans Electricals PLC is the service pillar of the Abans group and has since been the leader in after sales services for consumer electronics. 

CA Sri Lanka inducts chartered accountants to Hall of Fame 2015

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) recently paid tribute to three distinguished chartered accountants by inducting them to the Hall of Fame in recognition of their significant contribution made towards the development of the accounting profession, the business world and society.

Luxe Residencies mega condo launched

Emerging player in Sri Lankan real estate industry - Home Lands (Pvt.) Ltd – launched the company’s flagship condominium project ‘Luxe Highway Residencies’ recently. 

Mobitel powers 36th National Conference of Chartered Accountants

The national mobile service provider, Mobitel came onboard to power the 36th National Conference of Chartered Accountants, with a Gold sponsorship for the fifth consecutive year.

Astoria tees off at Colombo Golf Club Tournament

?Prestigious super-luxury condominium property, Astoria Colombo sponsored the Royal Colombo Golf Club (RCGC) tournament that took place recently.

ICRA Lanka upgrades LOLC to [SL] A; outlook stable

ICRA Lanka Limited, a group company of Moody’s Investor Services, has upgraded the credit rating of Lanka ORIX Leasing Company PLC (LOLC) and its financial services subsidiaries LOLC Finance PLC (LOFC) and Commercial Leasing & Finance PLC (CLC)...

Employers urge to extend existing plantation’s collective wage agreement

As matters have moved from bad to worse for the plantation sector, employers have urged the government to intervene and extend the existing collective wage agreement for the next 12 months, which would provide the much-wanted relief for the dampening industry.

Sri Lanka’s October vehicle registrations up

Vehicle registrations for October increased to 55,844 from 50,489 year-on-year (YoY), but fell from a record 64,020 set in September, possibly due to the confusion over the loan-to-value (LTV) ratio set by the Central Bank to curb vehicle imports...

New Tourist Board Chairmen get letters of appointment

?Letters of appointment have been sent to the individuals who were recommended to the posts of Chairmen at the Tourist Board, Mirror Business learns. 

NTB 3Q net down 18% over gilt losses

Nations Trust Bank PLC (NTB) contracted its net profit by 18 percent to Rs. 680.9 million for the quarter ended September 30, 2015 (3Q15) from a year ago as the bank made mark-to-market losses on its investments made in the government securities...

Weak rupee costs Dialog over a billion; 3Q net profit down 60% to Rs.679mn

The country’s largest mobile telecommunications operator Dialog Axiata PLC (Dialog) saw its net profits for the quarter ended September 30, 2015 (3Q15) falling by as much as 60 percent to Rs.679.06 million from a year ago due to the weakening rupee. 

MyDeal.lk celebrates 4 years of ‘The best deals in town’

In this day and age where ‘startup’ is the buzzword and ecommerce companies are mushrooming, one of Sri Lanka’s pioneer daily deal website startups, MyDeal.lk celebrated 4 years of successful operations in Sri Lanka. 

Hemas-SLINTEC drive innovation in personal care market

?Hemas continued on its path of innovation by entering into a research agreement between Hemas Manufacturing (Pvt.) Ltd and Sri Lanka Institute of Nanotechnology (SLINTEC) to expand the personal care product portfolio by adding a revitalizing skin care solution.

Sri Lanka’s laws to protect consumer rights inadequate: Eran

The country’s laws to protect consumer rights are inadequate and the Consumer Affairs Authority (CAA) must listen to the voice of the people, the Public Enterprise Development Deputy Minister said at the Sri Lanka Economic Association Annual Sessions.

CF Ruffer Fund acquires 3.29% in Asiri Hospitals

?London-based CF Ruffer Pacific Fund, part of Ruffer LLP, has acquired a 3.29 percent shareholding in Asiri Hospital Holdings PLC, becoming its fourth largest shareholder, the financial results released for the quarter ended September 2015 show.

TEA discusses industry crisis with producers

?The tea producer sector stakeholders recently discussed the current tea market situation at a meeting convened by the Ex-Co of the Tea Exporters’ Association (TEA).

Hayleys net profit up 6% to Rs.629.14mn in 2Q

?Diversified conglomerate Hayleys PLC posted a net profit of Rs.629.14 million for the second quarter ended September (2Q16), increasing 6 percent year-on-year (YoY) supported by the transport and logistics, agriculture and purification product segments.

Madulsima Plantations records Rs.87.41mn net loss in 3Q

Madulsima Plantations PLC’s bottom line fell further down to a Rs.87.41 million net loss for its third quarter ended September (3Q15) from a Rs.35.56 million net loss year-on-year (YoY) reflecting the negative performance of a majority of plantation companies which have not diversified into palm oil.

PF leads delegation to Shanghai Institutes’ Maritime Silk Road Conference

The first event of the Pathfinder Foundation’s (PF) newly established ‘China-Sri Lanka Cooperation Studies Centre’ (CSLCSC) was held in Shanghai recently and was attended....

CIMA Management Accounting Conference tomorrow

?This year’s CIMA Management Accounting Conference will be held tomorrow under the theme ‘Global altitude through local aptitude’.

National Chamber welcomes govt.’s economic policy outline

The National Chamber of Commerce of Sri Lanka (NCCSL) in a statement welcomed the economic policy outline given by the Prime Minister in a special address at Parliament on November 5, 2015. 

Chartered Corporate Secretaries’ ‘Getting Listed’ T&D programme next week

The Institute of Chartered Corporate Secretaries of Sri Lanka (ICCSSL) has organised its third of a series of training and development programmes (T&D) for the year. 

Bathiudeen meets Qatari Foreign Affairs Assistant Minister

As year-on-year (YoY) bilateral trade surged and Sri Lanka’s exports to the world’s largest per capita economy hit a new high, both Qatar and Sri Lanka jointly stressed the need to boost trade further. 

Ceylinco Life shines again at SLIM Brand Excellence Awards

The strength of the Ceylinco Life brand has been emphatically reaffirmed by the Sri Lanka Institute of Marketing (SLIM), which presented the country’s life insurance leader with Silver awards in two of the top three categories recognised at the 2015 Brand Excellence Awards.

Holcim Lanka holds inter-university Concrete Mix Design Competition 2015

Furthering its vision of building foundations for the future Holcim Lanka, a member of the Lafarge Holcim group, partnered with the University of Peradeniya, Moratuwa and Ruhuna to conduct an innovative Concrete Mix Design Competition for the university’s Final Year Civil Engineering students.

CIM Sri Lanka completes 5th Talking Point on e-Commerce

The Chartered institute of Marketing Sri Lanka Region (CIMSL) concluded its fifth Talking Point for this year titled ‘e-Commerce: From Brick and Mortar to Online’ at Ramada Colombo with nearly 100 marketers and corporate executives attending. 

Dwellings Group receives SLIM Regional Brand Excellence Award

Australian commercial and residential property investment organisation Dwellings Group has been ranked regionally for brand excellence and was recognized with the ‘Regional Brand Excellence’ Award, 

Gestetner collects Ricoh Asia Pacific award for highest YoY regional sales growth

Gestetner of Ceylon PLC has been recognised for its remarkable year-on-year (YoY) sales growth within the region by Ricoh Asia Pacific. 

UB Finance sponsors the Management Club

UB Finance Company Limited (UBF) became the most recent sponsor to support the activities of the Management Club (TMC). On 28th October 2015 a MOU was signed by the  President of the Board of Management of the Management Club...

World Bank funds govt.’s US $ 165mn water supply and sanitation improvement project

The International Development Association of the World Bank is funding a US $ 165 million water supply and sanitation improvement project in Mullaitivu, Kilinochchi, Nuwara Eliya, Badulla, Kegalle, Moneragala and Ratnapura Districts.