Dialog 2Q net up 20% but VAT and floods slow growth

Sri Lanka’s leading telecommunication service provider, Dialog Axiata PLC posted a net profit of Rs.2.29 billion or 28 cents a share for its June quarter (2Q16) recording an increase of 19.9 percent from a year ago.

Hayleys Fibre to make substantial gains with sale of Ekala property

The Hayleys group’s premier manufacturer and exporter of coconut fibre-related products, Hayleys Fibre PLC, is said to make substantial gains from the disposal of its freehold property in Ekala, Ja-Ela to a group subsidiary. 

Rocell to exit paints biz following proposed sale of Colobrite

Market leader in tile and bathware industry Royal Ceramic PLC, which entered the country’s paint market five years ago, is planning to divest its paints manufacturing facility, marking an exit from the business, Mirror Business learns. 

Tokyo Cement in deal with Japan’s Ube Industries

Sri Lankan cement manufacturer Tokyo Cement Group said it has struck a deal with Japan’s Ube Industries Ltd for technical support and import raw materials to make high-quality cement. A statement said the deal was signed on August 1, 2016.

Agalawatta share sale—the plot thickens

Agalawatta Plantations PLC yesterday in a stock market filing said it was notified that the sale of 60.80 percent of its shares by Mackwoods Plantations (Pvt.) Ltd for Rs.304 million was executed with the approval of the two shareholders of the latter.

Expolanka June net profit falls 18%; top line up 7%

Expolanka Holdings PLC, a unit of Singapore-based SG Holdings—the holding company of Japan’s Sagawa group—saw its net profit for the June quarter (1Q17) falling 18 percent year-on-year (YoY) to Rs.182.3 million amid non-cash write down in passive investments and higher administrative expenses.

Lanka IOC slashes prices of own fuel varieties

Sri Lanka’s only private oil company that operates fuel retail outlets, Lanka IOC PLC said it was reducing the prices of two of its own fuel brands from midnight, yesterday.

Rupee edges down in dull trade

REUTERS: The Sri Lankan rupee ended slightly weaker in dull trade yesterday due to mild importer dollar demand, but the fall was capped as dealers were reluctant to trade below 145.60 levels fearing intervention by the Central Bank, dealers said. 

SL–Canada Biz Council President emphasizes importance of attracting FDIs to Sri Lanka

The 24th Annual General Meeting (AGM) and the 25th anniversary celebrations of the Sri Lanka – Canada Business Council of the Ceylon Chamber of Commerce were held recently at the residence of High Commissioner for Canada in Sri Lanka Shelley Whiting. 

Laya Beach Wadduwa offers 30% off on two-night getaways

Idyllic Laya Beach Wadduwa, just a very short, 30-minute drive from Colombo, is always a great option for a quick escape, with plenty of sun, sea and sand to go around for those interested in a spectacular stay without the hassle of unnecessary travel. 

Non-digitisation of state agencies costing US $ 2mn a day: Minister

Although the government has been on the lookout for new avenues to boost its coffers, it is yet to plug the revenue leakages that amount to approximately US $ 2 million per day due to the non-digitisation of state agencies, the country’s telecom minister pointed out.

Amãna Bank awarded ‘Islamic Finance Entity of the Year’ award

Amãna Bank was awarded the Gold Award for the Islamic Finance Entity of the Year at the recently concluded inaugural Islamic Finance Forum of South Asia (IFFSA) Awards Night, cementing its leadership status in the Non-Interest based banking and finance industry in Sri Lanka.  

Top WTO official to address the Human Capital Summit

Marcio Favilla will do the keynote address for the Tourism Pillar on the 12th of August, one of the four growth sectors identified. Favilla is currently Executive Director for Operational Programmes and Institutional Relations at the World Tourism Organization (UNWTO). Between January 2010 and December 2013 he held the position of UNWTO Executive Director for Competitiveness, External Relations and Partnerships. 

CSR Sri Lanka invites more pvt. sector players to use Mahoga for social transformation

CSR Sri Lanka, the only organization dedicated to promoting Corporate Social Responsibility (CSR) in the private sector – invites more dominant players to use Mahoga, the first ever digital platform that would connect two stakeholders for social transformation. 

Pureit cosponsors Sri Lanka Medical Association Health Run & Walk 2016

In conjunction with the recent Sri Lanka Medical Association Health Run & Walk 2016 that promoted and celebrated healthy living for all age groups through a bevy of health activities, screenings and refreshments, Pureit is proud to have had the opportunity to be a cosponsor making available clean drinking water for all participants to hydrate with throughout the health championing event. Two main hydration stalls were set up at the main entra

Pro Food/Pro Pack & Ag-biz expo to kick off on August 12

Pro Food/Pro Pack & Ag-biz 2016, Sri Lanka’s only comprehensive food, agriculture and packaging exhibition will be held for the 15th consecutive year from August 12 to 14, 2016 at the Sirimavo Bandaranaike Memorial Exhibition Hall (BMICH). 

Cordis, Hong Kong at Langham Place - an epitome of luxury

Facilitating to experience the sights and sounds of Hong Kong during the three-day Cathay Pacific Airways familiarisation tour was upscale Cordis, Hong Kong at Langham Place, in the bustling district of Mongkok, a 30-minute drive from Hong Kong International Airport.

Rhino Roofing inaugurates project to build houses for Aranayake landslide victims

The construction of 20 houses for 20 families displaced by the massive landslide in Bulathkohupitiya in Aranayake was inaugurated by Rhino Roofing Products Limited with the laying of the foundation stone in Aranayake.

KPMG’s forensic technology expert trains CA Sri Lanka members

One of India’s well known forensic technology experts, Prashant Bhat was in Colombo recently to share his insights and to educate members of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) on forensic accounting. 

Psychological Sciences Institute commences operations

Paving the way for a new paradigm in psychological wellness, Sri Lanka’s first fully-integrated provider of psychological training, treatment and research, the Psychological Sciences Institute (PSI), celebrated the official commencement of its operations with an inauguration ceremony recently. The inauguration ceremony was presided over by chief guest, Chartered Occupational Psychologist and Oxford   Psychometrics (UK) Founder Dr. &nbs

Union Bank continues to empower local exporters

Union Bank recently announced its partnership as the Premium sponsor of the Annual Export Awards organized by the National Chamber of Exporters of Sri Lanka for the 24th consecutive year. 

South China Sea ruling won’t improve regional security

The Permanent Court of Arbitration’s (PCA) ruling in the South China Sea case filed by the Philippines has been labelled a ‘sweeping victory’ against China. It concluded that China has no legal basis to claim historic rights within the nine-dash line in the South China Sea and that none of the land features in the Spratlys meet the criteria for an island that China — or any other country — can use to claim a 200-naut

Hatton plantation workers distribute roofing sheets

The Minister of Hill Country, New Villages, Infrastructure & Community Development P. Thigambaram, distributed New G. I. Roofing Sheets worth of Rs. 11.8 million  to the plantation sector in Hatton region, in order to undertake the re-roofing of the lines on 30th July, at the Norwood Sports Complex, Norwood, in collaboration with the Plantation Human Development Trust, Dickoya, with the participation of the Officials of the Ministry, the

Guardian Acuity Money Market Fund wins Silver at CFA Awards

The Guardian Acuity Money Market Fund won silver at the recently concluded CFA Awards night in the category of mutual funds. This was the first time that the CFA Institute recognized the mutual funds industry for their performance. 

Plenty of opportunity ahead to be part of economy’s growth story: Sampath COO

Opportunities for growth are many in the coming years, was the key message delivered when Mirror Business sat down with Sampath Bank Chief Operating Officer (COO) for an interview recently.

HNB opens Customer Centre at Finance Ministry

In a bid to assist the Finance Ministry employees balance their work life with day-to-day responsibilities, Hatton National Bank opened its 252nd Customer Centre at the Finance Ministry premises recently. 

Lean Transformation Summit to kick start in Colombo next month

Institute of Lean Management (ILM) flagship event, the International Lean Transformation summit will be held on 27th and 28th September at the Galadari Hotel Colombo on the theme of “Inculcating Lean Thinking for Better Tomorrow” 

FCCISL attends BIMSTEC Business Forum in New Delhi

The seventh meeting of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Business Forum was held at Hotel Shangri La, New Delhi recently.  BIMSTEC involves a group of countries in South Asia and South East Asia. The countries are Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan and Nepal. 

Royal Hospital outsources lab services to Lanka Hospitals Diagnostics

Royal Hospital, Colombo recently announced its decision to outsource its laboratory services to Lanka Hospitals Diagnostics (LHD), the pioneers in providing high-quality medical laboratory services to patients and the doctors. 

Largest Chinese incentive group visits Sri Lanka

A group of 134 Chinese tourists recently arrived in Sri Lanka from Shanghai, China.