CCC views 19A “very important and positive”

?Sri Lanka’s premier trade chamber the Ceylon Chamber of Commerce (CCC) yesterday observed the enactment of the 19th Amendment to the Constitution “very important and a positive step.”

CB to open branch in Kilinochchi

?The Central Bank is to open a regional branch in Ariviyal Nagar, Kilinochchi on May 6, 2015.

Central Bank gets Rs.400mn from RBI

The Central Bank said it was getting US $ 400 million from the Reserve Bank of India (RBI) through a currency swap agreement between the two countries.

Airport Christmas Shopping Festival promo rewards winners

The awards ceremony in connection with the mega seasonal promotion titled ‘Airport Christmas Shopping Festival’ conducted for the 5th consecutive year by Airport & Aviation Service (Sri Lanka) Limited (AASL) during 1st December 2014 – 31st January 2015...

Lanka Hospitals opens doors with new and improved appearance

?The newly refurbished front lobby area of Lanka Hospitals Colombo was declared open by Minister of Finance Ravi Karunanayake recently. The new floor space accommodates patient registration, admission and channeling counters, a VIP lounge and customer services facilities.

Bureau Veritas CPS becomes first accredited laboratory for cosmetic product testing

?Bureau Veritas Consumer Products Services Lanka (Pvt) Ltd has received the accreditation for cosmetic product testing, becoming the first laboratory in Sri Lanka to possess the accreditation for cosmetic products. 

Softlogic takes retail partners for Cricket World Cup

?Making history by introducing many ‘first time’ events in the field of the mobile phone marketing sector during the past, Softlogic Communications PLC was able to take their retail partners to Australia for a new experience. 

Silvermill Real Coconut Milk makes cooking extremely easy

?Carefully extracted using state-of-the-art technology, Silvermill Real Coconut Milk is rich in nutrients and is full of wholesome goodness. Coconut milk has many health benefits and contains a variety of essential vitamins and minerals. 

Holcim Lanka introduces Ready Flow Plus to market

?Holcim Lanka’s Ready Flow Plus enters the market with a promise of high performance that combines with strength, consistency and workability.  A product manufactured in Sri Lanka with local inputs encourages a leaner but stronger...

Textured Jersey records highest annual net profit of Rs. 1.3bn

?Textured Jersey Lanka PLC (TJL) recorded its highest ever annual net profit of Rs. 1.3bn for the year ended 31st March 2015, an increase of 16 percent year-on-year. 

Sri Lanka on cusp of better political and economic change: JWT Regional Head

Sri Lanka is on the cusp of better political and economic change, according to the incoming regional head of J. Walter Thompson, which is part of the world’s largest advertising company WPP PLC.

Cairn India in the red over Lankan exploration costs

?Cairn India has incurred an impairment loss of US$ 79.74 million (INR 505 crores) originating from its oil exploration activities in Sri Lanka’s Mannar basin, the company’s fourth quarter results showed. 

March tea output up 17.5 pct on better weather

?REUTERS: Sri Lanka’s tea output gained 17.5 percent in March from the same month a year earlier, helped by favourable weather conditions, the state-run Tea Board said yesterday, helping to lift first-quarter production by 7 percent on last year.

Rupee forwards slip on importer dollar demand

?REUTERS: Sri Lankan rupee forwards slipped yesterday as importer dollar demand outpaced early selling of the greenback by banks, while dealers expect the local currency to remain under pressure due to lower interest rates.

SEC requests Kalpitiya Beach to postpone EGM

?The Securities and Exchange Commission (SEC) yesterday said it requested from Kalpitiya Beach Resort PLC to postpone the firm’s Extraordinary General Meeting (EGM) ....

Sri Lanka raises US$ 81mn through development bonds

?Sri Lanka raised US$81.25 million through two and three-year dollar-denominated development bonds yesterday, the Central Bank said.

Shares at 7-week closing high; political woes weigh

?REUTERS: Sri Lankan shares edged up to their highest close in seven weeks yesterday led by diversified shares, but volume was light as investors awaited cues from the political front ahead of a parliamentary vote on proposed constitutional reforms.

Wireless communication more important than basic human needs: Cisco

Wireless solutions utilized by individuals and business entities to make their lives and tasks more efficient and simpler, had become the next big thing in the mobility communication sector, said the visiting Cisco Product Sales Specialist for India and Saarc, Arun Negi.

Smiths Detection airport screening technology safeguards society and protects life

?Countries around the world are witnessing exponential economic growth and infrastructure development. Simultaneously passenger traffic at airports is growing at a rapid pace.

Altair steals limelight at Dubai International Property Show

?Altair, Colombo’s distinctive twin-tower residential high-rise development was among the most attention-grabbing exhibits at the 2015 International Property Show in Dubai, at which 94 of the world’s leading property developers from 30 countries showcased their projects.

SEC Chief calls for common regulatory platform

Sri Lanka’s capital market regulator yesterday highlighted the need for a joint regulatory mechanism within the South Asian region to promote more investments to the region and to create regulatory consistency. 

Finance Minister gives thumbs up for economy

The current situation of the country is extremely friendly towards foreign investment, according to the Finance Minister, who said that this year’s economic growth would hover around 7 percent, cementing the outlooks given by multilateral organisations.

PCH Holdings to enter new businesses

PCH Holdings PLC, a unit of Adam Investments, yesterday communicated to the Colombo Stock Exchange (CSE) its director board decision to incorporate a fully-owned microfinance subsidiary. 

Ranil De Silva appointed as Singer Sri Lanka Director

?Singer (Sri Lanka) PLC recently announced the appointment of D.T. Ranil De Silva to the company’s board of directors as an Independent Non-Executive Director with effect from April 1, 2015. 

Ceylon Chamber raises funds to help earthquake- affected Nepalis

?The Ceylon Chamber of Commerce (CCC) is seeking the support of the local business community and the public to help the Nepali people affected by the massive earthquake, which has taken the lives of well over 3,000 people.

Foreigners sell US $ 28mn worth govt securities in week after rate cut

?REUTERS: Foreign investors sold a net US $ 28.2 million worth of Sri Lanka government securities in the week ended April 22, following a 50 basis point cut in the Central Bank’s policy rate.

Maldives keen on more Lankan investments

?The Maldives has invited Sri Lankan and other regional investors to take part in the financing of its tourism industry. “We have potential future developments for over 60 islands with about a US $ 2 billion financing requirement and an...

Felix Fernandopulle appointed Richard Peiris Finance Chairman

?J. Felix Fernandopulle has been appointed Chairman of Richard Peiris Finance Ltd with effect from  February 26th .Fernandopulle is a fellow member of the Institute of Chartered Accountants of Sri Lanka...

Lankan Angel Network funds US$ 5 mn for 20 startups

?With the Lankan Angel Network having already raised US$ 5 million in funding for 20 startups across a number of industries vital to Sri Lanka’s future, there was no better time for the recent launch of the new Lankan Angel Network Incubation Centre for startups. 

Otaradel.com goes live

?The newly revamped website of entrepreneur and philanthropist Otara Gunewardene was launched recently. Unveiling a sleek re - design combined with a responsive layout, it features an innovative, ...