DFCC Bank rewards winners of Dubai concert raffle draw

Lanka Money Transfer (LMT) recently sponsored Rhythm Night, a concert organized for the Sri Lankan migrants working in Dubai.

Laugfs acquires another mini-hydro for Rs.200mn

Laugfs Holdings PLC will be developing another mini-hydro power plant, following its full acquisition of shares in PAMS Power (Private) Limited for Rs.200 million last week.

New IMF facility crucial for reforms: economist

??By Chandeepa Wettasinghe A new standby facility from the International Monetary Fund (IMF) will be key to pushing ahead with the reforms required to develop Sri Lanka, a leading economist told Mirror Business. “We will need the lifeline from the IMF.

HNB relocates Delgoda Customer Centre

Hatton National Bank recently relocated the Delgoda Customer Centre at New Kandy Road, Delgoda . The newly relocated customer centre is housed in a more spacious building with ample parking space. This customer centre 

NDB 4Q up 46% to Rs.1.25bn over higher loans; but full year profit down 14%

National Development Bank PLC (NDB) increased its group net profit by as much as 46.5 percent to Rs.1.25 billion for the quarter ended December 31, 2015 (4Q15) 

Market segmentation leads to a solid and loyal customer base

When economics textbooks give the impression that all consumers are alike, they are ignoring variances in the way different groups treat a product. In management, the term unsegmented, mass marketing is used to describe this approach

CIC, NRC and ITI partner to support Agriculture Department’s islandwide fruit fly control

CIC Holdings PLC (CIC), a leading blue-chip company in Sri Lanka, recently joined hands with the National Research Council (NRC) and the Industrial Technology Institute (ITI) to conduct a collaborative study to find a solution

Investors should not time the stock market but invest time in the market

The cyclic nature of a stock market is well established. An intelligent investor should be able to maximize returns in spite of market cycles. This requires a winning spell of understanding market dynamics and adopting the correct attitude.

CAA launches islandwide programme to address consumer-related issues

S r i L a n k a ’s s t a t e - c o n t r o l l e d c o n s u m e r protection body – Consumer Affairs Authority (CAA) – is to launch an islandwide p r o g r a m m e i n v o l v i n g consumers, traders and government off i c i a l s , a statement said.

Chevron Lubricants Asia Pacific leaders meet in Colombo

The annual Chevron Lubricants Asia Pacific leadership team meeting this year is being held at The Kingsbury Hotel in Colombo from February 14 – 17, 2016. This is the first-of-its-kind to be held in Sri Lanka, where a diverse group 

Cinnamon Legends ventures into value-added cinnamon products

Sri Lanka’s leading cinnamon exporter G. P. De Silva & Sons International (Pvt.) Ltd has advanced into valueadded cinnamon products under its sister company Cinnamon Legends. “We are the leading true cinnamon supplier to the world.

Amid tough times Lankan shipping industry shows growth

Amidst tough external and domestic environment, Sri Lanka’s shipping industry has grown beyond expectations. The growth in ship arrivals, growth in tonnage and the growth in throughput have all reached positive numbers by the end of 2015.

Facebook India MD Kirthiga Reddy stepping down

REUTERS: Facebook Inc.’s India Managing Director, Kirthiga Reddy, said on Friday she is stepping down and returning to the United States to “explore new opportunities” at the company’s headquarters in Menlo Park, California.

Modi urged to make reality match ‘Make in India’ hype

Thousands of people and mascots of lions swarmed the weekend opening of a “Make in India” drive to attract foreign direct investment, pitched by Prime Minister Narendra Modi as “the biggest brand that India has ever created”.

Tourism slump, loss of power business trim Aitken Spence 4Q profits

Poor returns from tourism in Maldives and losses in energy business have trimmed Sri Lanka’s Aitken Spence PLC’s December quarter (3Q16) net profits by as much as 26.7 percent to Rs.637.5 million from a year ago, the 

Hemas Dec. net boosted by higher top line growth, finance income

Diversified Hemas Holdings PLC, which has interests i n FMCG, hea l t h c a r e , transportation and leisure saw its net profit for the December quarter (3Q16) soaring as much as 219.7 percent year-on-year (yoy) to Rs.858.66 million, 

In initial discussions on IMF loan: FinMin

Sri Lanka is in initial talks with the IMF about a loan, Finance Minister Ravi Karunanayake said, amid concerns over pressures on its balance of payments, outflows from government bonds and a ballooning fiscal deficit. Higher foreign 

Amaliya Foundation introduces new programme to help hearing impaired children

The Amaliya Foundation, an initiative of the Amalean Family which had produced a number of corporate sector leaders in the country had come up with a project to help the children with hearing impaired. 

Tourism industry requires 130, 000 newly trained personnel by 2020: study

Sri Lanka’s tourism industry will need around 130, 000 newly trained personnel by 2020 to serve the targeted 4 million tourists, a study has revealed. According to a study conducted by the National Human Resources Development Council (NHRDC)

HNB finances Hela’s acquisition of Foundation Garments

HNB’s corporate banking business on the back of a very successful 2015, announced the US $ 18 million financing of Hela’s strategic acquisition of Foundation Garments.

EU hits China with new steel anti-dumping probes: official

AFP - The EU launched new probes yesterday into imports of Chinese steel, warning it would not allow “unfair competition” to threaten Europe’s industry which is crumbling under a flood of cheap imports.

Lankan stocks end lower on global woes, rising rates

REUTERS: Sri Lankan shares edged down for the fifth straight session yesterday to close at a more than three-week low, in line with weaker regional peers, as investors stayed off risky assets on concerns over rising domestic interest rates. Asian shares

This Valentine’s, experience the perfect getaway

It’s that time of the year when you sweep your loved one off their feet with the perfect gift. With the Valentine’s Day around the corner, give them the best gift yet by taking flight to a romantic destination with Mihin Lanka. 

Farmers protest

Farmers throw objects near the Agriculture ministry in Athens during a demonstration against the pension reform yesterday. Fears that Greece will exit the eurozone, a “Grexit”, could revive if Greek authorities do not come up with “credible” reforms, notably on pensions, a senior IMF official had said. AFP

Critical care platforms showcased at Anesthesiologists Congress

The 32nd Annual Academic Congress of the College of Anesthesiologists and Intensivists was held recently in Colombo focusing on improving outcome through safety and knowledge. Recognised as the county’s foremost surgical and medical technology company, Ceyoka (Pvt.) Ltd served as a platinum sponsor at this year’s annual conference.

Tokyo Cement Super Quiz Season 3 finalists from Kalutara

The Tokyo Cement Super Quiz has enabled students to rediscover their thirst for knowledge, whether it is by going to the library and learning new things, or even going online, which has also prompted our success, according to Lakshitha Nanayakkara,

Sri Lanka-Bahrain trade talks to renew bilateral cooperation

Minister of Industry and Commerce Rishard Bathuideen’s visit to Bahrain concluded, deepening and elevating the economic, commercial and investment relations between both countries. 

ComBank wins IBSL Inter-Bank Quiz for second successive year

Commercial Bank of Ceylon has reaffirmed its commitment to the professional development of its staff by winning the 2015 Inter-Bank Quiz conducted by 

Colombo Paradise Round Table 5 inducts celebrity chef as honorary member

The godfather of modern cooking, three Michelin star celebrity chef and judge of MasterChef Australia, Marco Pierre White was hosted by Cinnamon Hotels and Resorts in collaboration with the British High Commission recently. 

Oil prices rally after plumbing new depths

AFP- Oil surged more than five percent in Asia yesterday, a day after tanking towards 13-year lows and following a report suggesting the OPEC producers’ club was open to working towards cutting output to stabilise volatile crude markets.