Power Solutions and Portugal’s Grupel sign MoU for Gensets

?Power Solution South Asia (Pvt.) Ltd and Grupel of Portugal recently signed a Memorandum of Understanding (MoU), where Grupel appointed Power Solutions South Asia (Pvt.) Ltd as the authorized dealer for its generator brand Grupel. 

Papyrus-Arjowiggins show how fine papers build brand image

?The importance of fine paper as a definition of luxury even in the age of digital communication was the theme of a recent seminar in Colombo by Arjowiggins Creative Papers, the owner of the global heritage paper brand Conqueror.

CA Sri Lanka-Inland Revenue to strengthen relationship further under new Commissioner General

?Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) President Arjuna Herath recently underscored the importance of a more proactive role between CA Sri Lanka and the Department of Inland Revenue...

Eat Right introduces more healthy options to Lifestyle Menu

?Colombo’s fastest growing health food delivery, Eat Right recently added brand-new healthy meal options for breakfast, lunch and dinner on its Lifestyle Menu, in order to cater to a discerning clientele. 

CA Sri Lanka offers exemptions for AAT members following BSc. Degree in Applied Accounting

?The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) has consistently demonstrated exceptional standing as a leading tertiary education provider in the country,

State bank’s role highlighted in bond controversy report

The role played by the state-banking giant Bank of Ceylon (BoC) has been highlighted in the report of the three-member committee appointed by Prime Minister Ranil Wickremesinghe to probe into the recent 30-year bond scandal. 

Tushara appointed Director External Relations and Surveillance at SEC

?Securities and Exchange Commission (SEC) official Tushara Jayaratne has been designated as Director External Relations and Surveillance.

Lafarge chief gets 2.5mn euro merger bonus as cement company cuts jobs

?AFP: Lafarge Chief Executive Bruno Lafont has been awarded a 2.5 million euro (US $ 2.8 million) bonus for the successful merger with Swiss rival Holcim as the cement company announced job cuts.

DFCC gets CSE nod to list debt securities

DFCC Vardhana Bank is raising Rs.5 billion by way of a debenture issue and has received the preliminary approval to list the debt securities in the Colombo Stock Exchange (CSE). 

CB allows rupee to fall for 2nd session

?REUTERS: Sri Lanka’s Central Bank allowed the rupee to fall by 0.15 percent yesterday by guiding a daily trading band lower for the second straight session, the fifth downward adjustment since April 30, a move dealers said reflected lower domestic interest rates and a broadly strong dollar.

NDB to go ahead with debenture issue

National Development Bank PLC (NDB) yesterday said it was pursuing the debenture issue announced this February. The bank has upsized the issue by Rs.2.5 billion to Rs.10 billion, subject to regulatory approvals.

Sri Lanka needs to open doors to become a financial hub: Lord Mayor of London

The Lord Mayor of London opined that Sri Lanka would have to open its doors to expertise from abroad in order to become a financial hub.

SLCHBC representatives meet with new Chinese Ambassador

?Senior Executive Committee members of the Sri Lanka-China Business Council (SLCHBC) recently met with the new Ambassador of the People’s Republic of China to Sri Lanka, Yi Xianliang. 

Short-term T-bill yields edge down

?The short-term Treasury bill yields edged down at yesterday’s Treasury bill auction. The three-month bill yield fell two basis points to 6.08 percent from last auction while six-month bill yields fell three basis points to 6.19 percent.

IPS workshop discusses South Asian issues in run-up to WTO Ministerial Conference

?The Institute of Policy Studies of Sri Lanka (IPS) together with the Commonwealth Secretariat and Consumer Unity & Trust Society (CUTS) International, recently conducted a workshop in Colombo,....

Kalpitiya Beach Resorts denounces malicious reports

Kalpitiya Beach Resorts PLC (KBR PLC), a subsidiary of Citrus Leisure PLC, issuing a statement clarified its position with regard to the allegations levelled by the media. 

The Regent unveils unique Country Club concept

?The Regent unveils unique Country Club concept Nestled in Malabe, the newest property of LAHRC Management Services (Pvt) Ltd, The Regent has attracted public attention since its construction stage. 

Ceylon Planters’ Provident Society promotes personal financial planning

?Recognizing the need to go beyond providing the best possible returns to members, Ceylon Planters’ Provident Society conducted an awareness program recently for its members on Wealth Planning in collaboration with NDB Wealth Management. 

Diva ‘Idame Vasanawa’ celebrates fifth consecutive year with novel activation campaign

?Diva a brand of Hemas Manufacturing, which has transformed the lifestyles of its consumers, kicked-off its exciting mega consumer promotion ‘Idame Vasanawa’ for the 5th consecutive year in Homagama,...

European light fittings importer opens showroom in Colombo

?Luz Pvt Ltd was inaugurated by Finance Minister Ravi Karunanayke at Visahka Road, Bambaliapitya recently. Luz imports top of the range branded European light fittings & fixtures to Sri Lanka.  The company is headed by M.G.N.M. Rizwan. 

Laksala Wedding Gift Promo kick starts in June

?Laksala is celebrating the wedding season with a special promotion for the first time. Customers looking for gifts for couples getting married in June will receive fabulous discounts on a range of selected items upon presenting the wedding invitation.

DFCC Bank March net profit falls 30%; FY15 net up 38%

The development financier, DFCC Bank PLC group contracted its net profits by as much as 29.7 percent to Rs. 824.5 million for the quarter ended March 31, 2015 (4Q15) from a year ago due to weakened core-banking operations on the back....

Investments would start to pour in after election: London Mayor

The Lord Mayor of London expressed that Sri Lanka is coming out of a dark spot, and following the next election, investments would start to pour into the country.

Administered fuel price cut hurting Lanka IOC 4Q badly

?Lanka IOC PLC (LIOC), the only private oil company in the country that sells petroleum products through retail outlets, recorded a net loss of Rs.1.06 billion for the March quarter (4Q15) due to the state-directed reduction of fuel prices by the new government.

Citrus Leisure subsidiary to manage George Steuart’s new city hotel

?George Steuart & Co. Ltd’s upcoming landmark city hotel will be managed by Citrus Silver Limited, a newly formed, fully-owned subsidiary of Citrus Leisure PLC, which in turn is a subsidiary of George Steuart Group.

Ports Authority denies strike reports

Sri Lanka Ports Authority yesterday dismissed reports of a strike carried out by the Employees of Hambantota Magampura Port.

Madulsima Plantations in Rs.1.4bn rights issue to settle debts

Madulsima Plantations PLC will be raising Rs.1.38 billion in a rights issue in the near future, to settle company’s outstanding debts. Five new ordinary shares will be issued for each currently held ordinary share, for a total of 145 million shares, at a consideration of Rs.9.50 per share.

Janashakthi excels at inaugural Inter Insurance Company Quiz

?Janashakthi Insurance General team emerged as the 1st runner up at the Sri Lanka Insurance Institute, inaugural quiz competition held on 14th May.

Microsoft ‘Innovation for Impact’ empowers Lankan NGO sector

?Microsoft Sri Lanka under a YouthSpark grant together with World Bank and Fusion, the ICT arm of Sarvodaya, conducted ‘Innovation for Impact’, a two-day workshop designed to educate and provide ICT solutions to improve the local NGO sector with skills that will touch the lives of rural youth.

Unilever to launch ‘Star Collection’ with star-studded event

?Unilever invites its consumers to indulge themselves when they introduce a fragrant, heady, glamorous, flirty, and exciting new product, and what’s more, one that has been co created by Bollywood femme fatale, Deepika Padukone.