Court says approval granted for Ceylinco Insurance segregation stands

The Colombo District Court yesterday, held that the initial order granting approval on October 10, 2014 to Ceylinco Insurance PLC to segregate its business stands.

McLarens Lubricants, “Mobil” power Malagamuwa’s Silver Jubilee

?Sri Lanka’s foremost motor racer of international fame, Dilantha Malagamuwa,  celebrated the silver jubilee of his illustrious racing career at a ceremony recently.  

‘Construction Expo 2015’ to kick off in June

?Construction Expo 2015, Sri Lanka’s most comprehensive exhibition featuring each and every factor related to the construction and building industry is scheduled to be held on 12th, 13th, 14th June at BMICH.

Ceylon Chamber’s YMF goes online

?The Young Members Forum of the Ceylon Chamber of Commerce, which just marked its first year of services to the younger generation of the country, launched its ‘website’ www.ymf.lk this morning, thus helping it to expand its reach.

Murali Prakash appointed to Laugfs Gas board

?Former Group Managing Director/CEO of Browns Group Murali Prakash has been appointed a director of Laugfs Gas PLC as a non-executive director with effect from April 02, 2015.

CDB’s HR vision delivers Silver at HR Awards

?Citizens Development Business Finance (CDB) was recognized as an Overall Silver award winner at the recent 2014 HRM Awards, held by the Association of Human Resource Professionals in conjunction with SHRM. 

Abans reward top achievers with Sydney trip

?Abans conducted a Cricket World Cup promotion among their Showroom Managers and key partners to select and reward high achievers of LG Smartphones during the months of October, November and December 2014. 

S-lon wins the Taiki Akimoto 5S Merit Award

S-lon Lanka Pvt Ltd was recently awarded the ‘Taiki Akimoto 5S Merit Award’ for the year 2014 at the 19thJASTECA Awards Ceremony held under the auspices of his Excellency, Nobuhito Hobo, the Ambassador for Japan in Sri Lanka. It is an annual competition organized by the Japan Sri Lanka Technical & Cultural Association (JASTECA), with the primary motive of encouraging both public and private organizations to adopt effective Japanes

Sri Lanka self-sufficient in energy by 2020: Champika

?Sri Lanka would be self-sufficient in energy by 2020, according to Power and Energy Minister Champika Ranawaka. “Just like how we are self-sufficient in rice, we will become self-sufficient in energy,” he claimed.

Govt. to expand public sector, but with discipline

?The new regime will continue to increase the size of the public sector despite its already sluggish nature, according to a top Cabinet minister. “Our government has decided that the youth of the country needs to get employment, and we will do so,” Finance Minister Ravi Karunanayake said.

French shipping giant invests US $ 2.5mn to set up BPO unit

?CMA-CGM Shared Service Centre Lanka (Pvt) Ltd., a unit of the largest French shipping line CMA-CGM commenced business process outsourcing (BPO) operations last week investing US $ 2.5 million. 

Odel acquires Softlogic Brands for Rs.600mn

Odel PLC has acquired Softlogic Brands (Private) Limited for a consideration of Rs.600 million, the fashion retailer said in a stock market filing. Both Odel and Softligc Brands are subsidiary companies of Softlogic group.

January exports flat; oil bill down 41%

?Sri Lanka’s export earnings increased marginally by 0.6 percent year-on-year to US $ 910 million in January with expenditure on imports rising at a faster pace of 1.6 percent yoy to US $.1.68 billion, data released by the Central Bank showed.  

Committee to review resettlement of families within Colombo

?The Cabinet will be appointing a committee to review aspects pertaining to the relocation of families in underserved settlements within the City of Colombo, undertaken by the Urban Development Authority (UDA).

iPlaza brings whole new shopping experience

?David Pieris Information Technologies Ltd, a subsidiary of David Pieris Group of Companies, recently launched iPlaza, an online shopping store that is guaranteed to offer a flexible and exciting shopping experience. 

Signal’s dental camp sets new Guinness World Record

?Sri Lanka’s leading Oral Care brand, Signal, recently demonstrated its commitment towards mobilizing a national effort to work towards a “Cavity-Free Sri Lanka”. 

Asliya and Akura capture overall winner awards

?The regional print awards organized by the Sri Lanka Association of Printers (SLAP) was held at the BMICH, with printers competing island wide excluding those from the Colombo district.

Hayleys Café Pixel Wonder Photo Shop gives life to your memories and moments

Hayleys Consumer relocated its model photo imaging studio and photo lab “Café Pixel Wonder Photo Shop” to Dharmapala Mawatha Colombo 7 which is situated next to the Ministry of Buddha Sasana. 

‘‘Panadol Sahanaabhimani’ launched to mark Happiness Day

?Panadol, the flagship brand of SmithKlineBeecham Pvt. Ltd, (GSK) launched Panadol Sahanaabhimani to celebrate United Nations World Happiness Day.’  This effort is aimed at inspiring Sri Lankans to build a happier nation and to mobilize the country towards this unified effort. 

‘Nestlé Professional Signature Night’ celebrates partners in success

?Nestlé Professional, the ‘out-of-home’ food and beverage solutions provider of Nestlé, hosted ‘Nestlé Professional Signature Night’ for culinary professionals in Sri Lanka, in honour of their contribution towards the growth of its business over the years. 

Plantation industry in dire straits

Plantation companies that have not diversified to include oil palm are likely to face an overall negative outlook due to global and macroeconomic factors. “Only oil palm planted estates will make a profit,” Watawala Plantations PLC CEO Dr. Dan Seevaratnam told Mirror Business recently.

Two new appointments to CSE board

Lal Nanayakkara and Anton Godfrey have been appointed to the board of directors of the Colombo Stock Exchange (CSE) with effect from March 20, 2015.  Nanayakkara served as a board member of the Securities and Exchange Commission of Sri Lanka (SEC) from 1998 to 1999. 

Credit growth to recover up to 15-17% in 2015: S&P

?The Sri Lankan banking sector credit growth could gradually pick up to 15 percent to 17 percent levels from the 13.7 percent level seen in 2014 amid lacklustre demand for private credit and relative drop in credit to the government from the...

Singhe Hospitals MD confident of profits

?The Managing Director of Singhe Hospitals—of which an Initial Public Offering (IPO) is currently underway—says the company’s profits will grow in 2015/16 and dividends will be paid to investors. 

BIA runway : Access tells its story

?Access Engineering PLC (AEL) informed the Colombo Stock Exchange that it had followed proper procedure in acquiring the US $ 85 million contract to repair the runway at Bandaranaike International Airport (BIA), contrary to earlier reports.

SEC gets tough on Kalpitiya Beach Resort

?While expressing its “grave concern”, the Securities and Exchange Commission (SEC) has issued directives to Kalpitiya Beach Resort PLC with regards to the proceeds the company collected during its Initial Public Offer...

Alexandre Glauser appointed as OZO Hotels Sri Lanka Area General Manager

?Thailand-based ONYX Hospitality Group appoints accomplished hospitality professional, Alexandre Glauser as the Area General Manager to OZO Hotels in Sri Lanka, which includes OZO Colombo and soon-to-open OZO Kandy. 

Nurturing young talent, inspiring collaboration a priority, 4As says at AGM

?The Sri Lankan Chapter of the Association of Accredited Advertising Agencies (4As), which represents advertising and marketing communications practitioners, agencies and related businesses in Sri Lanka, recently elected its new board members for...

Uga Escapes opens Residence all-suite boutique hotel

Uga Escapes officially opened its doors to its fourth property, Residence, an all-suite boutique hotel, at No: 20, Park Street Colombo 2. Uga Escapes, demonstrating its commitment to the luxury tourism sector...

New range of Bigen products launched in Sri Lanka

?Hoyu Company Ltd of Japan, manufacturers of Bigen hair dye, together with Premasiri Stores, held its inaugural Bigen dealer conference at the Sasakawa Hall in Colombo last week.