Rupee steady on state bank dlr sales

REUTERS: The Sri Lankan rupee closed steady yesterday as a state-run bank sold dollars at 133.80, while hopes the currency would appreciate in the short term faded with the Central Bank defending the currency via moral suasion, dealers said.

Multilac & Macktiles donate Dialysis Machine to Panadura Base Hospital

?As part of yet another Corporate Social Responsibility (CSR) initiative, Multilac & Macktiles donated a Dialysis machine to the Panadura Base Hospital recently. 

Laugfs to propel maritime sector

Laugfs Holdings PLC is planning to expand its thrust in the maritime sector with the purchasing of a US $ 6.9 million ship. “Amidst challenges, we made a bold move to purchase our first vessel, a gas carrier which we named as Gas Challenger for obvious reasons. 

CIC Holdings records turnaround performance in 2014/2015

?CIC Holdings PLC recorded an impressive performance for the financial year ending March 31, 2015. Group profit after tax (PAT) was recorded at Rs.1040.84 million, a strong improvement over last year’s loss of Rs.1,126.84 million. 

Hot Wheels offers branded mountain bikes in latest promo

?Hot Wheels has always been known as a much loved brand by children and collectors  alike. Its unique, customized design has enthralled over 41 million children all over the world for over forty years. 

idac launches next generation R32 Daikin Inverter Air-conditioner

?idac (Pvt) Ltd. together with Daikin Japan, the world’s No 1 Air-conditioning Company is proud to introduce this product to the Sri Lankan market.  This new generation Inverter and Non-Inverter air conditioners are offered at an affordable,...

Maliban’s Annual Sales and Marketing Award Ceremony

?Maliban’s Annual Sales and Marketing Award Ceremony was held at the Mt. Lavinia Hotel in March. The event took place under the patronage of incumbent Chairman of Maliban A.G. Rathnapala. 

Lankan energy sector team to study ‘renewable energy’ in Bavaria

A 13-member Sri Lankan energy sector team, which comprises of industry executives and academics, will visit Bavaria, Germany during mid-June in order to take part in a training programme on ‘renewable energy’.

Highways Ministry launches rural road rehabilitation project

?The Highways and Investment Promotion Ministry, under the patronage of Minister Kabir Hashim, launched an islandwide rehabilitation project of the rural road network. 

Korea-Sri Lanka 2014 Knowledge Sharing Programme concludes

?The 2014 Knowledge Sharing Programme (KSP) with Sri Lanka of the Korean government came to an end through two events held in Colombo last week.

Harsha says next budget will have marked difference

The upcoming budget under the national government would have a marked difference to the previous budgets, according to Dr. Harsha de Silva, who described himself as the “point man of the Sri Lankan economy”.

Rating bungle!

?The fate of the pending debt issues already rated by Lanka Rating Agency (LRA) hangs in balance with the Securities and Exchange Commission (SEC) halting EAP Broadcasting Company Ltd’s (EBC) Rs.3 billion debenture issue on Tuesday.

European Union presents EUR 60mn cooperation programme

Marking the Environment Day, the European Union (EU) took yet another development initiative by launching ‘European Union Support to District Development Programme’

Shares end at 8-week low on political uncertainty

REUTERS: Sri Lanka’s stock index fell for a third straight session yesterday to close at its lowest level in eight weeks, with turnover slumping to a near three-month low as concerns over political uncertainty dented demand for risky assets.

World Textile Awards : Textured Jersey wins “Firm of the Year” title

?Textured Jersey Lanka PLC (TJL) emerged the overall victor at the World Textile Awards in London, by winning the topmost award across all categories and being bestowed the much sought after global title ‘Firm of The Year.’  

ACL posts 27% growth in Group Turnover

?ACL Cables PLC, the market leader in cables with over 70 percent market share as a group, and the pioneer of Sri Lanka’s cable industry since 1962, has recorded an impressive full-year group turnover of Rs. 14.5 billion,...

Dunlopillo mattresses enter Sri Lankan market

?Lalan Eco-Latex (Pvt) Ltd launched the Dunlopillo Bedding Gallery at Nugegoda recently, as an exclusive hub to distribute the renowned Dunlopillo mattresses. 

Venture Engine announces 2015 finalists

?Wrapping up a busy two weeks of workshop sessions in Finance, Law and Presentation skills, the 22 businesses that made it through the 2 minute pitch made their detailed business presentations on 5th of June to an experienced panel of investors.

Asia Capital in Maldivian resort venture with Japanese partner

?Asia Capital PLC (ACAP) yesterday announced plans for a resort project in the Maldives together with Belluna Co. Ltd of Japan, with whom the company had entered into a strategic partnership earlier this year. 

Aitken Spence expands presence in Maldives

Diversified conglomerate Aitken Spence PLC has significantly increased its presence in the Maldives with the acquisition of two new islands to develop resorts, according to the latest annual report.

HSBC to cut global headcount by up to 50,000

AFP: Scandal-hit bank HSBC said yesterday it would cut its global headcount by up to 50,000 as part of a restructuring that entails its withdrawal from Brazil and Turkey, while it also mulls abandoning London as its headquarters. 

SEC directs CSE to hold EAP Broadcasting’s Rs.3bn debenture issue

The Securities and Exchange Commission (SEC) yesterday directed the Colombo Stock Exchange (CSE) to hold the proposed Rs.3 billion-debenture issue by EAP Broadcasting Company Limited.

J’ pura University research to deliver tourism insights

Sri Lanka Tourism Promotion Bureau (SLTB) has entered into a Memorandum of Understanding (MoU) with University of Sri Jayewardenepura Marketing Management Unit for marketing research insights.

Shares slip to over seven-week low

?REUTERS: Sri Lanka’s stock index closed at its lowest in more than seven weeks yesterday led by market heavyweight John Keells Holdings PLC, with concerns over political uncertainty before elections to parliament denting sentiment.

Acknowledging commitment to quality & excellence

Sri Lanka’s Pearl Grand Hotel was presented the IQS International Quality Summit Award, acknowledging its strong commitment to quality and excellence

Raymond Weil celebrates Toccata launch with brand ambassador Nicola Benedetti

?Raymond Weil, the globally renowned Swiss watchmaker, recently announced classical violinist Nicola Benedetti MBE, as the luxury Brand’s first female music ambassador.

Recognizing Sri Lanka’s Foremost 20 Best Places for Work in 2015

?Great Place to Work Institute in partnership with Fairway Holdings will felicitate the top 20 companies in Sri Lanka that create great work environments tomorrow (10th June) at the Hilton Ballroom. 

Western College holds first Annual Graduation

?Western College for Management and Technology held its first annual graduation at the BMICH under the patronage of the Chief Guest the Assistant Vice Chancellor of the University of Bolton...

Alcatel Lucent promotes products in Sri Lanka

?Alcatel Lucent, a French-based IP networking ultra-broad brand access and cloud technology specialist, is represented by Apogee International in Sri Lanka. 

Havelock City accelerates Phase 3 and 4 development

?Havelock City, the premier residential enclave inaugurated the pile construction works of Phase 3 and 4 residential developments simultaneously in order to expedite the development and complete construction within a shorter period of time.