MTD Walkers offers affordable housing for public sector employees

?Integrated infrastructure and engineering solutions provider MTD Walkers PLC in partnership with the Ministry of Public Administration, Local Government and Democratic Governance and the Board of Investment (BOI) of Sri Lanka...

SLINTEC to begin reasearch for Macbertan

?Macbertan (Private) Limited an associate company of McLarens Holdings Ltd, signed an agreement with SLINTEC for product development recently. 

Huawei Honor G Play set to launch early next week

?Huawei Honor G Play which is now set to launch in Sri Lanka is speculated to hit the market shelf at a price ranging from Rs. 25,000- 29,999.  The device will be launched next week and will be targeted at the  mid-range smartphone market.

Abans introduces LG Leon mid range smartphone with high-end features

?The LG Leon is part of the new spread of mid-range smartphones that LG has recently introduced. It is affordable and yet carries a load of features of its high-end counterparts.

AVIC signs on top contractor for Astoria Luxury Condominiums completion

Astoria, a luxury condominium development that aims to set a new standard in the luxury...

Lord Mayor to promote economic ties with Sri Lanka

The Lord Mayor of the City of London, Alderman Alan Yarrow, is to lead a business delegation to Sri Lanka from 17 to 19 May, as part of efforts to make sure London and the UK remain the regional partner of choice when it comes to financial and professional services. 

Sanasa Bank net profit surges over 200% in 1Q

Sanasa Development Bank PLC, a micro financier based on co-operative model, saw its net profit for the quarter ended March 31, 2015 (1Q15) surging as much as 226 percent year-on-year (yoy) to Rs.200 million amid better interest margins.

Ciesot divests half of its holding in Ceylinco Insurance?

Ciesot (Private) Limited, an employee share ownership trust of Ceylinco Insurance is believed to have divested over 2.2 million shares amounting to nearly half of its total holding in the company in a Rs.3.5 billion deal.

Israeli envoy says bilateral trade needs boost

The New Delhi based Israeli envoy for Sri Lanka and India, Daniel Carmon says, Sri Lanka and Israel needs to focus on further enhancing its existing trade and commercial ties.

Future hangs in the balance

?Construction work of the Chinese-funded US$ 1.4 billion Colombo Port City Project that was temporarily suspended in March on the grounds of improper procedures been followed during the past regime, is yet to commence. Analysts say, the future of the project hangs in the balance  

NDB 1Q group net down 27%; bank level profits up 30%

NDB Banking group saw its net profit for the quarter ended March 31, 2015 (1Q15) falling 27 percent year-on-year (yoy) to Rs.869.2 million, largely due to lower gains from financial investments.

SLT March profits soar

Sri Lanka Telecom PLC (SLT), the largest fixed line telephony operator in the country said its March quarter (1Q15) net profit surged 201 percent year-on-year to Rs.1.6 billion on the back of higher top line gains.

Higher impairment charges caps NTB’s 1Q growth

The net profit of Nations Trust Bank PLC (NTB),..

Seylan Bank 1Q net profit up 26%

Seylan Bank PLC saw its net profit for the March quarter (1Q15) increasing 26 percent...

AIA Lanka reports Rs.2mn net loss in 1Q15

AIA Insurance Lanka PLC, the local unit of the Hong Kong stock exchange-listed Asian life insurance giant,..

Cargills Bank 1Q net loss exceeds Rs.70mn

The banking arm of the Cargills group, Cargills Bank Limited (CBL),...

HNB 1Q net profit up 75% to Rs.1.91bn

Hatton National Bank PLC (HNB), the second biggest private bank in the country with an asset base of Rs.625 billion,...

ComBank posts Rs.2.5bn net profit in 1Q

Commercial Bank of Ceylon PLC (ComBank), Sri Lanka’s largest private bank in terms of assets,...

Dialog 1Q net profit up 56% despite tax snags

Dialog Axiata PLC, the local unit of Malaysia’s Axiata Group,...

Clarks bringing comfort and class from London

Spanning a history of nearly 200 years, Clarks shoes have become synonymous with quality, comfort and class. Bringing the best of Britain and a very unique heritage in shoe design, Clarks has delighted consumers since inception, and very few the world over are unaware of the brand. Premium quality footwear that blends British traditional craft and innovative technology distinguishes and sets Clarks apart. 

Hemas to use rights money to expand healthcare, personal care businesses

Hemas Holdings PLC said yesterday the Rs.4.1 billion rights issue proceeds will be utilized...

New IPS study explores taxation impact on SMEs

?Tackling the twin challenge of providing a concessionary tax regime for Small and Medium Enterprises (SMEs) while aiming to expand the tax base would require a better policy formulation, argues a new study by the Institute of Policy Studies of Sri Lanka (IPS). 

Jayatissa appointed to Monetary Board

?Economist R.A. Jayatissa has been appointed as a member of Central Bank of Sri Lanka’s  Monetary Board with effect from April 10, 2015 by President Maithripala Sirisena. 

Nestlé Lanka 1Q revenue up 7% to Rs.9.2 bn

?Nestlé Lanka PLC delivered a revenue of Rs. 9.2 billion with a YoY growth of 7.3 percent for the first quarter ending 31 March 2015, despite a very challenging and volatile environment. The company posted a profit after tax of Rs. 1.2 billion. 

OCH III construction to begin shortly: Minister

?The work on the third phase of the Outer Circular Highway (OCH III) between Kadawatha and Kerawalapitiya will commence within the next couple of weeks, Highways and Investment Promotion Minister Kabir Hashim said.

Euromoney plans int’l investor conference in Colombo

?Leading business and finance magazine Euromoney is planning an international investor conference in Colombo this September, Sri Lanka’s Industry and Commerce Ministry said in a media communiqué yesterday. 

Chambers hail Finance Ministry initiative aimed at improving Doing Business ranking

?A joint business chamber statement yesterday welcomed the timely initiative taken by the Finance Ministry to engage in a series of discussions with the public institutions and private sector to address the issues...

High-powered Qingdao delegation to arrive in Sri Lanka on May 15

?Sri Lanka is set to host a high-powered business delegation from Qingdao city of China on May 15, 2015.  The Sri Lanka-China Business Council (SLCHBC) will facilitate the business and networking event

Switzerland, Bahrain and Croatia hold talks with Ceylon Chamber for commercial ties

?Envoys of Switzerland, Bahrain and Croatia held discussions with the Ceylon Chamber of Commerce recently to find out ways and means of exploring trade, tourism and investment opportunities between Sri Lanka and those countries.

Ceylinco Life opens new branch office in Kilinochchi

?Life insurance leader Ceylinco Life has strengthened its presence in Sri Lanka’s northern region with the opening of a new branch office in Kilinochchi. Formally declared open by the company’s Director...