Clarity on new govt’s economic policy more vital than politics: Fitch

?Fitch Ratings in a brief statement yesterday said greater clarity over economic policy is more important than the party composition of Sri Lanka’s next government.

India’s Modi to bet US $1.5bn on palm oil plan as imports surge

REUTERS: India plans to spend US $1.5 billion in the next three years to help farmers grow oil palm trees in an area the size of New Jersey, ...

Ceylon Chamber congratulates victors

Sri Lanka’s premier trade chamber the Ceylon Chamber of Commerce (CCC) yesterday in a statement extended congratulations to the United National Front for Good Governance, ....

Distilleries 1Q saved by beverage operations

Distilleries Company of Sri Lanka PLC posted a net profit of Rs.1.76 billion for the first quarter of 2015/16 (1Q16), up 5 percent year-on-year (YoY),...

Bogala Graphite makes Rs.18mn 2Q loss amid rising sales costs

Graphite manufacturer Bogala Graphite Lanka PLC posted a net loss of Rs.18.69 million compared to a net profit of Rs.10.52 million year-on-year...

Altair wins Gold and Silver at 2015 BestWeb.lk Awards

Altair, Sri Lanka’s architecturally inimitable luxury high rise development, has been honoured with two key awards for the quality and effectiveness of its website www.altair.lk

AMW holds Top 30 Tyre Retreading Dealer Convention 2014

Associated Motorways (AMW), the corporate giant, held its annual top 30 dealer convention of the retreading tyre sector recently at Eden Resort & Spa Hotel,

A new trade opportunity opens for tile,sanitaryware industry

The ceramic tile industry in Sri Lanka has 34 years of long history of manufacturing and distribution of tiles all over the country as well as exporting....

NBQSA launches online scoring system for first time in Sri Lanka

?The National Best Quality ICT Awards (NBQSA) competition will mark its 17th anniversary this year. It was introduced by the BCS, The Chartered Institute for IT Sri Lanka Section (BCSSL) to showcase local talent and provide opportunities to take their products to the international market.

Holcim Lanka distributors tour Prague

?Holcim Lanka, part of the global Holcim group, treated its distributors for an overseas trip to Prague recently.

Atlas introduces school back packs

?Atlas believes in encouraging children to realise their potential and believes that a better future can be unlocked through education. Atlas demonstrates its vision by providing quality user-friendly tools (school and office stationary)... 

Godrej moves up in Forbes’ Most Innovative company list

?Godrej Consumer Products Limited yet again trail-blazed its way into the Forbes’ list of ‘The World’s 100 Most Innovative Growth Companies 2015’ as the ‘Most innovative FMCG Company’, significantly improving its position over the previous year. 

JAT forms subsidiary to strengthen new portfolio

?As part of a major diversification process, JAT Holdings embarked on opening up a new subsidiary to the company’s portfolio by introducing Esteem Plantations (Pvt.) Ltd. 

Sri Lanka’s largest brewer records strong top line

?Sri Lanka’s largest brewer, Lion Brewery (Ceylon) PLC (Lion) saw its net profit for the quarter ended June 30, 2015 (1Q16) increasing by 19 percent to Rs.579.3 million from a year ago due to strong top line, the interim results released to the Colombo Stock Exchange (CSE) showed. 

Qatar to launch major labour reform for migrant workers

?AFP: Qatar yesterday officially launched one of its most “significant” labour reforms to guarantee migrant workers’ wages, but rights groups are concerned over implementation of the new regulations.

The Finance cuts losses in June quarter

The troubled The Finance Company PLC (TFC) was able to narrow its losses by 40 percent year-on-year (YoY) to Rs.373.3 million in the June quarter (1Q16), the interim financial accounts released to the Colombo Stock Exchange showed. 

Shares end at 7-month high on stability hopes after polls

?Sri Lankan shares closed at their highest level in seven months in a truncated session yesterday on hopes that political stability after the August 17 parliamentary elections would help boost investor sentiment, brokers said.

Sunshine June quarter helped by strong healthcare sector

?Diversified conglomerate Sunshine Holdings PLC posted a Rs.162 million net profit for 1Q16, an 11 percent growth year-on-year (YoY), with higher contributions from the healthcare segment while the agribusiness took a turn for the worse.

Tokyo Cement profit falls amid lower sales, price cuts

?The largest cement manufacturer in the country, Tokyo Cement Company (Lanka) PLC saw its net profit for the quarter ended June 30, 2015 (1Q15) falling 13 percent YoY to Rs.466 million amid a slowdown in the top line.

Colombo Dockyard makes 2Q turnaround, posts Rs.182mn net profit

Colombo Dockyard PLC posted a year-on-year (yoy) net profit of Rs.182.11 million for the second quarter ended June 30 (2Q15) against a net loss of Rs.51.65 million in the corresponding quarter of the previous year.

Digital Holdings and Asiri form JV to develop e-Healthcare platform

Digital Holdings Lanka (Private) Limited, a wholly-owned subsidiary of mobile telephony market leader Dialog Axiata PLC has formed a joint venture company with Softlogic Holdings PLC subsidiary Asiri Hospital Holdings PLC to develop a healthcare sector e-commerce platform.

Fonterra cuts dairy auction volume

Fonterra says it is significantly reducing the amount of product it puts up for sale on the GlobalDairyTrade auction platform over the next 12 months.

Softlogic Group 1Q net profit soars over 100% to Rs.84mn

Sri Lanka’s diversified Softlogic Group PLC saw its net profit for the quarter ended June 30, 2015 (1Q16) surging over 100 percent year-on-year (yoy) to Rs.84 million, the interim financial accounts released to the Colombo Stock Exchange showed. 

Foreign investors sell Rs.5bn rupee bonds in a week

?Foreign investors sold Rs.5.1 billion of bonds (US $ 38) in the week to August 12, 2015 continuing a trend that gathered pace after a rate cut in April 2015, official data show.

CMA presents Professional Excellence Awards

CMA presented Professional Excellence Awards to several top professionals.  The awards were presented at the CMA Global Management Accounting Summit by the chief guest President Maithripala Sirisena...

China’s long march to currency reform takes step forward

?AFP - China’s currency devaluation is a step in the long march to a more open regime for the yuan, analysts say, but authorities will need to further loosen their controls to promote long-term growth.

IMF urges Spain to keep reform focus ahead of elections

?AFP - Spain must stay the course on economic reforms if it wants to generate growth and reduce its sky-high unemployment rate, ahead of a year-end general election, the International Monetary Fund said yesterday.

Shares up ahead of polls

?REUTERS: Sri Lankan shares ended firmer yesterday on hopes that political stability after the Aug. 17 parliamentary elections would help boost investor sentiment, brokers said.

Increased consumption adversely affecting storage operations: Finlays

Cold storage giant Finlays Colombo PLC said that the increased consumption currently taking place in the country has adversely affected its storage operations, while other factors balanced the logistics industry.

Rupee trades steady despite importer dollar demand

?REUTERS -The Sri Lankan rupee traded steady yesterday despite importer dollar demand ahead of the parliamentary election on Monday, while dealers said they expected the currency to face further pressure in line with weakening regional currencies.