Thomas Cook India buys Lankan travel firm

?Thomas Cook (India) Ltd recently said it bought Luxe Asia, a Sri Lanka-based destination management company through its wholly owned subsidiary, Thomas Cook Lanka (Pvt) Ltd.

New Zealand and Australia willing to invest more in Sri Lanka

Both Australia and New Zealand have expressed willingness to expand trade and investment with Sri Lanka. The High Commissioner for Australia in Sri Lanka, Robyn Mudie said they are focusing on three priority areas to invest;

Fitch affirms Lion Brewery at ‘AA-(lka)’; Outlook Stable

?Fitch Ratings has affirmed Lion Brewery (Ceylon) PLC’s (Lion) National Long-Term Rating at ‘AA-(lka)’. The Outlook is Stable. The agency also affirmed Lion’s senior unsecured rating and the rating on its debentures at ‘AA-(lka)’. 

Piramal Glass posts Rs.146 mn net profit for 1Q16, up 70% yoy

?Glass bottle and container manufacturer Piramal Glass Ceylon PLC posted a net profit of Rs. 146.8 million for the 3 months ended June 30 (1Q16), up 70 percent year-on-year (yoy) drawing on the increased domestic food and beverage consumption.

DPL to raise Rs. 722 mn via rights to modernize plant, settle short-term loans

?Dankotuwa Porcelain PLC (DPL) will be raising Rs. 722.46 million by the way of a new rights issue to modernize its plant and settle short-term loans, according to an announcement at the Colombo Stock Exchange (CSE).

Windows 10 available in 190 countries as free upgrade

?Microsoft Corp. announced that Windows 10 will become available Wednesday as a free upgrade or with new PCs and tablets. 

Country lacking domestic export, import volumes to satisfy mega ship operations: CICT official

?The current trend of shipping lines procuring and operating mega ships would lead to Sri Lanka having higher freight charges instead of the intended opposite effect if the country does not increase its import/export volume, according to an industry expert.

Shares end at more than 5-month high

?Reuters- Sri Lankan shares ended at their highest in more than five months yesterday, as investors picked up risky assets on expectations of strong corporate earnings and political stability after the Aug. 17 parliamentary polls.

Cold Stores June profits surge 84%

?Ceylon Cold Stores PLC, a unit of the John Keells group, saw its net profit surging 84 percent year-on-year (yoy) to Rs.550 million for the June quarter (1Q16) amid strong performance of its manufacturing and retailing segments.

Abans receives HP Best Direct Retail Partner Award

?Hewlett Packard (HP) held their Annual HP Partner Night 2015 at Blue Waters, Wadduwa on 24th and 25th July.  Over 250 HP Key Performing Consumer Partners participated in the event.

Norfolk Foods adds flavour to Culinary Arts 2015

?Norfolk Foods Pvt Ltd, the innovation centric contender in the Sri Lankan frozen food manufacturing arena is a trusted brand name both locally and internationally. 

Ceylinco Life Sales Officers win 5 NASCO Awards

?Four sales professionals of Ceylinco Life won five awards at the 2015 National Sales Congress (NASCO) Awards of the Sri Lanka Institute of Marketing (SLIM), giving the country’s life insurance leader high visibility at this annual event.

Sampath Bank partners with AISEC to conduct API program

?Reiterating their commitment as a socially-responsible corporate citizen, Sampath Bank partnered with the Global Community Development Program of AISEC in the University of Sri Jayewardanepura to conduct the Ample Path Inspiration (API) program for the 3rd consecutive year. 

Richard Peiris Tyre Company holds annual dealer convention

?Annual dealer convention of the Richard Peiris Tyre Company was held at the “Cinnamon Grand” Hotel in Colombo on recently. Out of the company’s 1500 strong dealers...

Signal unveils “Dewarak Madinna Dewarak Dinanna” consumer promo

?Offering children more reasons to brush their teeth twice a day, Sri Lanka’s popular  toothpaste, Signal, launched its “Dewarak Madinna Dewarak Dinanna” promotion recently. 

LIFT collaborates with MPA to introduce Italian way of shoe and bag design

?Lanka Institute of Fashion Technology (LIFT) has yet again set forth to form a prestigious collaboration in order to better equip its students with the prowess that is needed to excel in the fashion industry. 

Japan’s largest insurer Mitsui Sumitomo enters Sri Lanka

Mitsui Sumitomo Insurance Co Ltd (MSI), the largest insurance company in Japan, 

Tharaka appointed to Siyapatha board

 Senior marketer Tharaka Ranwala has been appointed to the director board of Sampath Bank subsidiary ...

Airtel Lanka appoints new CEO/MD

Indian telecom giant Bharti Airtel yesterday announced the appointment of Jinesh Hegde as the Chief Executive Officer...

US $ 1mn worth immediate contracts for Lankan firms at Japan IT Show

Six Sri Lankan IT companies that participated in the Japan IT Show held last month have bagged US $ 1 million worth of immediate...

DFCC Bank rating unaffected by proposed merger: S&P

Standard & Poor’s Ratings Services (S&P) said that its ratings on DFCC Bank (DFCC: B/Stable/B) are not affected by the bank’s

Cinnamon Lakeside Hotel’s owning company’s 1Q in red

Trans Asia Hotels PLC, the owning company of five-star property Cinnamon Lakeside Hotel, 

180 days of “Yahapalanaya”

A discussion titled “180 days of Yahapalanaya” will be held today at the Sri Lanka Foundation Institute...

HNB wins NASCO Gold in Banking and Financial category

Hatton National Bank (HNB) has demonstrated its sales prowess by winning a Gold award...

Kandurata Umbrella introduces health-conscious socks

Kandurata Umbrella Industries (Pvt) Ltd., Sri Lanka’s leading socks manufacturer and marketer,...

Fully automated Customs to ensure full transparency

Making Sri Lanka’s Customs procedures completely automated will perpetuate transparency, according to Sri Lanka Shippers’ Council Chairman Sean Van Dort, who spoke at the body’s Annual General Meeting recently.  

Cargills 1Q15 turns green over strong top line growth

Diversified retailer, Cargills (Ceylon) PLC group posted a net profit of Rs.403 million for the quarter ended June 30, 2015 (1Q16) from a net loss of Rs.28.1 million incurred during the same period last year amid an increase in the top line...

Rupee up after state bank cuts dollar peg

?REUTERS: The Sri Lankan rupee ended a tad firmer yesterday after a state-run bank cut the currency’s peg against the U.S. dollar by 10 cents to allow the exchange rate to appreciate to 133.60, dealers said.

IFAC President meets Finance Minister

?President of the International Federation of Accountants (IFAC), Olivia Kirtley met Minister of Finance Ravi Karunanayake at the ministry yesterday. IFAC CFO Russel Guthrie...

SL economic growth strong despite debt worries: Moody’s report

?In a report issued yesterday, Moody’s Investors Service said Sri Lanka’s B1 government rating is supported by its record of strong growth, but constrained by high government debt ratios.