Certis CISCO subsidiary e-Cop eyes Lankan entry

?Singapore-based security giant Certis CISCO’s subsidiary e-Cop is looking at entering the Sri Lankan market to provide cyber security services to local corporations in the near future.

Spot rupee steady for 3rd session; state bank sells dollar

?REUTERS: The Sri Lankan rupee ended steady for a third straight session yesterday in dull trade as a state-run bank sold dollars at 133.60 to keep the currency flat, dealers said.

CENTEC organises seminar on environmental challenges industry faces

?For the second year in succession, the Centre for Technical Excellence in Ceramics (CENTEC) jointly with the Sri Lanka Ceramics and Glass Council...

Largest shareholder of TJL divests 10% stake

?Pacific Textured Jersey Holdings Limited, the largest shareholder of Textured Jersey Lanka PLC (TJL), has divested a 10 percent stake it held in the company, reducing its shareholding to 29.65 percent.

Spot rupee steady; forwards tad weaker

?REUTERS: The Sri Lankan rupee ended steady yesterday in dull trade as a state-run bank sold dollars at 133.60 to keep the currency flat while the forwards ended slightly weaker as importer dollar demand surpassed inward remittances, dealers said.

Rose Cooray appointed as HNB Assurance Chairperson

?Rose Chandralatha Cooray has been appointed as the Non-Executive Chairperson of HNB Assurance PLC, effective from July 6, 2015, with the approval of the Insurance Board of Sri Lanka.

Ajita Pasqual appointed as Adam Investments Chairman

?Senior banker and former GM/CEO at Seylan Bank PLC, Ajita Pasqual has been appointed as the Executive Chairman of Adam Investments PLC with immediate effect.

SriLankan submits business plan aiming turnaround in 3 years

The top management at SriLankan Airlines has forwarded a business plan to the Cabinet to turnaround the struggling national flag carrier within three years. “They (SriLankan) have forwarded a business plan to the government,” Civil Aviation Authority Chairman Shibly Aziz said at a recent forum.

Condominium developers come up with a slew of recommendations

?The recently established Condominium Developers Association of Sri Lanka (CDASL) has forwarded a slew of recommendations to policymakers and government bodies in order to develop the industry.

Sri Lanka Tourism calls EOIs from ad agencies

?The Sri Lanka Tourism Promotion Bureau (SLTPB) has invited Expressions of Interest (EOIs) from global advertising agencies for the preparation and implementation of a communication plan, promoting Sri Lanka as a preferred tourism destination in identified overseas markets. 

Private sector credit slows down

?Credit to the private sector in the month of April slowed down to Rs.14.5 billion from Rs.41.4 billion recorded a month ago, the official data released by the Central Bank showed. 

People’s Leasing, People’s Bank up stake in PMF; trigger mandatory obligations

?People’s Leasing & Finance PLC (PLC) and its parent People’s Bank have acquired a significant stake in People’s Merchant Finance PLC (PMF) and will be making a mandatory offer to the shareholders in the near future.

Krest introduces newest vegetable crumbed range

?The Krest brand has taken one more step further by understanding the needs of different consumers and taken yet another initiative to launch a veggie-based crispy crumbed range of products to give better and more offering to veggie lovers.

Hameedia introduces new range of fashionable knitted jackets

?Continuously setting the benchmark in the fashion industry, Hameedia, Sri Lanka’s leading menswear specialist recently introduced its latest range of fashionable knitted jackets.  

Scan products sales force rewarded at Star Awards Night

At a ceremonious event which took place at the Club Palm Bay Hotel in Marawila recently, C. W. Mackie PLC – Scan Product Division’s top sales performers were recognized for the year 2014/2015.

99X Technology employee felicitated for ‘Leadership Excellence in IT’

?99X Technology’s Process and Delivery Manager Shehani Seneviratne was recognized for her contributions to Sri Lanka’s IT industry when she was awarded Silver for ‘Leadership Excellence in Information Technology’...

Munchee founding Chairman steps down

?Following a board meeting held on June 24, 2015, after almost 48 years at the helm of the organisation he founded in 1968, Mineka P. Wickramasinghe has retired from the position of Chairman of the Ceylon Biscuits (CBL) group. 

Marina Rasa Saraniya holds ‘Star Chef Hunt’ in Wayamba Province

?The second phase of the Marina Rasa Saraniya ‘Star Chef Hunt’ competition launched by Cherubium Lanka in collaboration with Swarnavahini TV channel and the Ministry of Education was held on a grand scale at the S. W. R. D. Bandaranaike Vidyalaya, Panduwasnuwara recently. 

CSE conducts successful live disaster recovery exercise

?The Colombo Stock Exchange (CSE) conducted a successful disaster recovery testing exercise, as part of its Business Continuity Planning (BCP), from its Disaster Recovery site recently, where all trading and post-trade operations took place from this remote site for a complete market day. 

Waskaduwa Beach in Rs.788mn cash call to settle debts

?The board of directors of George Steuart Group subsidiary Waskaduwa Beach Resort PLC (CITW) announced that the company will be going for a Rs.778 million rights issue to settle outstanding loans.

Election financing from abroad may boost Sri Lanka rupee: CB Governor

?economynext: Sri Lanka may see a surge of foreign inflows to finance an upcoming election which boost the rupee, but it was not certain, Central Bank Governor Arjuna Mahendran said.

Health-conscious Lankan to demand less fizzy drinks

?Increasing disposable income is less likely to translate into higher demand for carbonated soft drinks as the Sri Lankans are becoming more health conscious, according to a top official from the country’s oldest carbonated soft drinks manufacturer. 

Colombo City Centre to come up in Colombo 2

?Colombo City Centre, a 47-storey 1,000,000 square feet mixed lifestyle centre, combines a 210,000 square feet retail mall, a 196-roomed NEXT Hotel and 178 residential apartments on Sir James Pieris Mawatha, Colombo 2.

Prime Lands’ Sandamini adjudged Best Women Entrepreneur – Large

?The prestigious Women in Management Organisation named Prime Lands Group Deputy Chairperson Sandamini Perera as the ‘Best Women Entrepreneur – Large’, at the ‘Women for Governance’ Professional and Career Women Awards 2014/2015 held recently at The Kingsbury Hotel – Colombo.

CA Sri Lanka launches e-learning certificate course on SLFRS

?The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) recently unveiled an online certificate course on the Sri Lanka Financial Reporting Standards (SLFRS)

LBR LBO Summit 2015 next week

?Launched in the year 2000, Lanka Business Online, popularly known as LBO, is Sri Lanka’s and perhaps the region’s first web-based news service. LBO focuses on economy, industry, commerce and policy. 

MTI strengthens Sri Lanka board with int’l appointees

?MTI Consulting Sri Lanka, with a view on related business diversifications, has strengthened its board of directors with four new international appointments in the capacity of non-executive directors.

CLA and People Business explore HR role in driving corporate performance in Sri Lanka

?The conclusion of the workshop “Linking HR Strategy with Business Strategy” conducted by the Colombo Leadership Academy brings to an end a two-day master class on the inner workings of Human Resources best practices to create people centric businesses. 

National aviation policy in the making

A national policy on aviation is being formulated with the help of the industry stakeholders, according to Civil Aviation Authority (CAA) Chairman Shibly Aziz who was speaking at the Annual General Meeting of the Sri Lanka Association of Airline Representatives recently.

June tourist arrivals up 12%

?Sri Lanka’s tourist arrivals in the month of June rose 11.9 percent year-on-year (yoy) to 115, 467, the data released by the Sri Lanka Tourism Development Authority showed.