Fitch places People’s Merchant Finance on Negative Watch; withdraws rating

?Fitch Ratings Lanka has placed Sri Lanka-based People’s Merchant Finance PLC’s (PMF) national long-term rating of ‘BB+(lka)’ on Rating Watch Negative and simultaneously withdrawn the rating.

Xoom-Sampath introduce instant money transfer service to Sri Lanka

?Xoom Corporation, a leading digital money transfer provider, yesterday announced the launch of its money transfer service to Sri Lanka. Xoom has partnered with Sampath Bank,

Shareholder finds fault with Ceylinco Insurance dividend statement

?Global Rubber Industries (GRI), a significant shareholder of Ceylinco Insurance, states that the recent dividend announcement of Ceylinco Insurance is distorted and does not reflect the true value of return on equity to shareholders. 

Court of Appeal issues notice on Ceylinco Insurance segregation

The Court of Appeal yesterday issued notice on Ceylinco Insurance and its life and general divisions, following a revision application filed by a shareholder against an order made by the District Court.

Qatar Airways announces ‘Double The Luxury’ offer on world’s best Business Class

?Qatar Airways is offering customers in Sri Lankan a fabulous ‘Double The Luxury’ promotion for Premium Class travel to exciting destinations around the world.

Lafarge Mahaweli Cement on schedule with ‘Savi Piyasa’ housing programme

?Lafarge Mahaweli Cement is on schedule with its Savi Piyasa housing programme and has now partnered with nine leading brands in the construction sector and two commercial banks to add value to its technical assistance scheme for individual home builders. 

15th CIM Annual Conference Inauguration

Chartered Institute of Marketing (CIM) Chairman Sanjika Perera...

Eran to reveal major irregularities to P’ment today

Highways and Investment Promotions Deputy Minister Eran Wickremaratne said that he will reveal...

Funds at state-owned Lankaputhra Bank grossly misused: Chairman

State-owned Lankaputhra Development Bank has initiated a credit audit in a bid to recover loans amounting...

Former Lanka Hospitals CEO to head Hemas Hospitals

Hemas Hospitals yesterday announced the appointment of Dr. Lakith Peiris as the Managing...

CTC records Rs.2.5bn net profit in 1Q amid volume pick up

Ceylon Tobacco PLC (CTC) saw its net profit surging by Rs.500 million to Rs.2.5 billion in the first...

SriLankan management’s inaction on Weliamuna report raises questions

The board of directors of the national carrier SriLankan Airlines is yet to take any action...

NDB-DFCC merger called off

NDB Bank PLC, DFCC Bank PLC and DFCC Vardhana Bank PLC have agreed to dissolve...

DSl helps Nepal earthquake victims

?Four thousand pairs of footwear were donated to the victims of the recent earthquake in Nepal by the DSI Samson group, one of the leading conglomerates in Sri Lanka. 

Jockey launches pop colour collection at Fashion Bug

?Jockey launched its newest and trendiest range of fashion underwear at Fashion Bug Big City, Katubedde under the patronage of Jockey Brand Manager Asanga Shalindra and Fashion Bug AGM Operations Faraz Hameed. 

Lanka Ashok Leyland declares 400% dividend

?Lanka Ashok Leyland ended the year with a profit after tax of Rs 331.7 million, a 102 percent increase from 2013.

Arosha Perera joins Leo Burnett as COO

?Leo Burnett Solutions Inc. (LBSI), the local office of the global advertising network Leo Burnett Worldwide, recently welcomed Arosha Perera as its new Chief Operations Officer (COO). 

Wall Street banks see Fed on track to raise rates in September

?REUTERS: Wall Street’s top banks expect the Federal Reserve to begin raising interest rates in September, with two rate hikes before the end of the year, after a U.S. jobs report on Friday showed signs of underlying strength in the economy.

Piramal Glass 4Q profits soar to Rs.208 mn

?Piramal Glass (Ceylon) PLC, the glass bottle maker unit of India’s Pirama Group said it had an “exceptional” fourth quarter (4Q15) with the net profits surging to Rs.208 million, compared to Rs.61 million in the corresponding quarter of the previous year.

The classic collection

?The Ceylon Motor Show, organized by the Ceylon Motor Traders Association and the Classic Car Club of Ceylon was held over the past 3 days at the Sirimavo Bandaranaike Memorial Exhibition Centre.

LSV eager to expand social entrepreneurship further

Lanka Social Ventures (LSV), the pioneering local body for incubating and accelerating socially and environmentally-friendly small and medium enterprises (SMEs), is seeking support to broaden its operations.

Lower apartment sales keep Overseas Realty 1Q net flat

?The high-end property developer and the owners of the World Trade Centre (WTC) twin tower, Overseas Realty (Ceylon) PLC posted a net profit of Rs.788.5 million for the quarter ended March 31, 2015 (1Q15), down by a paltry one percent from the same quarter last year. 

Taj Samudra owning company posts Rs.19mn 4Q profit

?TAL Lanka Hotels PLC, which operates the 5-star Taj Samudra Hotel in Colombo, posted a net profit of Rs.19 million for the quarter ended March 2015 (4Q15), driven by higher revenues and tax gains.

Michel Nugawela to introduce leadership archetyping at CEO forum next week

?Michel Nugawela will introduce leadership archetyping at a VIP CEO Breakfast Forum on May 25 to an audience of CEOs and leaders in government and not-for-profit.

Laksala records highest seasonal turnover

?Laksala, the undisputed leader in the handicraft, gift and souvenir market in Sri Lanka, has recorded its highest seasonal showroom turnover of Rs.69.1 million in April 2015 since the year 2011. 

Passing 19th Amendment a victory of all: CNCI

?The Ceylon National Chamber of Industries (CNCI) in a press release stated that the adoption of the 19th Amendment to the constitution with a historic majority in Parliament is a victory of all Sri Lankans.  

Coca-Cola and Cargills Food City host island-wide cricket mania promotion

?Coca-Cola Beverages Sri Lanka (CCBSL) recently partnered with Cargills Food City to host an exciting island-wide ‘Celebrate the Season of Cricket’ scratch card competition. 

ACL Cables introduces ‘Fire Zero’ and ‘Fire Survivor’

ACL Cables, the pioneers of Sri Lanka’s cable market introduced two of its latest products recently named ‘Fire Zero’ and ‘Fire Survivor’. 

DSI tyre dealers get super luxury tour to Malaysia

?DSI Tyres made more than 150 of their  dealers enjoy a luxurious four-day tour in Malaysia in line with the successful  ‘Reward Plus 2014’ sales promotion .  With a trusted customer satisfaction of more than 3 decades in hand DSI tyres launched Reward Plus...

Solar Liberator launches range of innovative solar-based products

?Solar Liberator which follows the concept of ‘Made in Sri Lanka’, introduced a range of innovative solar power-based products which are been recently designed and developed by them.