ReeBonn introduces latest products to local market

ReeBonn Cosmetics, one of the leading herbal cosmetics companies in Sri Lanka introduced its newest product, enhanced Tea Tree Oil Shampoo and Conditioner rich with world-famous medicinal Tea Tree essence and climbazole to the local market.

Ceylinco Healthcare surpasses 200 TomoTherapy patient treatments

Ceylinco Healthcare Services Ltd. (CHSL), the pioneer of cutting-edge radiation therapy in Sri Lanka, has completed 200 patient treatments at its TomoTherapy Centre in Colombo, which marked its second anniversary in October this year.

Cenmetrix recognized at Global Biometric Partner Conference in Turkey

?Cenmetrix (Pvt.) Ltd, an IT systems integrator operating in Sri Lanka, was recognized by Suprema Inc, a leading biometric manufacturer, at the Global Biometric Partner Conference held in Istanbul, Turkey recently. 

Understanding WHO: Are we now going to ban meat?

The World Health Organisation (WHO) recently announced that bacon, sausages and other meat products will be added to the list of substances that present potential hazards to human health (in other words, substances that are carcinogenic and can trigger the development of cancer). 

Hemas and Minor open first Anantara Hotel in Sri Lanka

The first Anantara Peace Haven Tangalle Resort greeted Sri Lanka’s South coast recently, formed as a joint venture partnership between Hemas Holdings and Minor Hotel Group, was opened to the guests from December1st. 

New SEC Act to carry legislation on REITs: SEC Chief

The new Securities and Exchange Commission (SEC) Bill, which is expected to be enacted by end-2016, will provide the necessary legislation to introduce real estate investment trusts (REITs), according to the capital market regulator. 

PM’s tourism policy and Budget proposals at odds

?Prime Minister Ranil Wickremesinghe’s policy for the tourism industry and the Budget’s proposal to make SriLankan Airlines into a regional airline seem to be at odds with each other, Tourist Hotels Association of Sri Lanka President Hiran Cooray noted.

People’s Insurance to float with Rs.750mn IPO

?People’s Insurance Limited (PIL) is gearing up for its Rs.750 million Initial Public Offering (IPO), which will be issued on December 16.

November inflation rises to 10-month high of 3.1%

?The headline inflation for the 12 months to November 2015 rose by 3.1 percent, recording the highest increase in 10 months, the data released by the Census and Statistics Department showed. 

Global spillovers to weigh on Lankan economy in 2016: PM

The Sri Lankan economy may face a downturn in 2016 due to the events unfolding in the global arena, but should nevertheless work towards a 6.5 percent growth, Prime Minister Ranil Wickremesinghe said at the 30th anniversary celebration of the Colombo Stock Exchange.

People's Insurance to List on CSE via LKR 750 Mn IPO

People's Insurance to List on CSE via LKR 750 Mn IPO  Colombo: People's Insurance Limited ('People's Insurance'), a fully-owned subsidiary of People's Leasing & Finance PLC, has received in-principal approval for its Initial Public Offering ('IPO') from the Colombo Stock Exchange ('CSE').

wOw.lk Partners with MSI for Groundbreaking Gaming Event

Sri Lanka’s leading e-commerce platform, wow.lk announced a partnership with MSI to present the Sri Lankan leg of MSI Masters Gaming Arena (MGA) on the 5th December 2015.

Fashion Bug awarded best dealer for Emerald

Fashion Bug, one of Sri Lanka’s leading retail clothing chain with over 16 outlets island-wide, won the prestigious award for being the ‘best dealer’ in the ‘Diamond’ category at the western province dealer convention of Emerald International held on 24th November at Waters Edge.

Litro Gas is principal sponsor for 128th Amateur Golf Championship

Litro Gas, the largest importer and market leader of Liquefied Petroleum Gas (LPG) in Sri Lanka, recently signed up as the principal sponsor for the ongoing 128th Sri Lanka Amateur Golf Championship which commenced on the 29th of November.

Dhammika ups stake in Hayleys

The high-net-worth individual, Dhammika Perera has increased its stake in the diversified conglomerate, Hayleys PLC to 50.15 percent from 49.71 percent. 

Cap on pawning, ban on leasing, credit positive for Lankan banks – Moody’s

?The budget’s proposal to limit commercial banks’ exposure to gold backed loans and leasing activities will reflect positively on these lenders as such an action will minimize exposure to higher-risk loans, the global credit ratings agency, Moody’s Investors Service (Moody’s) said.

Zone24x7 wins Gold at APICTA 2015 in R&D

?Zone24x7 emerged as the overall winner in the Research & Development (R&D) category at the recently concluded Asia Pacific ICT Alliance (APICTA) 2015 awards held in Colombo. 

Equity One to de-list from CSE

?Property development entity, Equity One PLC (EQUIT) awaits nod from the regulators and its shareholders to de-list from the Colombo Stock Exchange (CSE) as it is not in compliance with the Minimum Public Float regulations imposed by the Securities and Exchange Commission (SEC).

Informatics International wins top award at APITCA 2015

Asia Pacific ICT Alliance, (APITCA) is an alliance of national ICT organizations representing their respective economy to build and enhance a mutually cooperative network to promote ICT...

E-tel innovates again with new Microsoft and Intel-powered KeyTab

?An innovative two-in-one that converts from a laptop to a tablet PC has been launched in Sri Lanka by E-tel, offering the combination of technology and affordability that propelled the brand’s meteoric success in the local smartphone market in a new product line.

Sri Lankan banks hit by triple whammy

?Sri Lanka’s banking sector is hit by a triple whammy of higher taxes, cessation of leasing business and the government guarantee on finance company deposits, according to an independent research company. 

Huawei G7 Plus debuts in Sri Lanka

?Huawei, the fastest growing smartphone in Sri Lanka, unveiled the Huawei G7 Plus the latest 4G device which was globally launched in the beginning of November 2015. 

Startup Sri Lanka-Infocomm Investments launch ‘Xeleration’ accelerator programme

?Startup Sri Lanka, an initiative by SLASSCOM Innovation and Entrepreneurship Forum, launched Xeleration, Sri Lanka’s first accelerator programme targeting budding entrepreneurs in Sri Lanka, at an event held by the Information and Communication Technology Agency (ICTA).

Amalgamation of EPF and ETF: Points to consider

The recently announced proposal to amalgamate the Employees’ Provident Fund (EPF) and Employees’ Trust Fund (ETF) has stirred a hornet’s nest. It is a popular topic of discussion too, particularly among beneficiaries

Surge in tourist arrivals

?Foreign tourists walk besides a Buddha statue in Vihara Maha Devi Park in Colombo yesterday.  Tourist arrivals to Sri Lanka gained 8.8 percent year-on-year in October, government data showed. AFP 

It’s no deal in Paris on climate change without transport

This December’s climate change summit in Paris could at last see an ambitious, legally-binding deal. For the first time, this would encompass the bulk of global greenhouse gas emissions, since the biggest emitters

KOPIA conducts trial performance of Korean rice transplanting machine in Rajanganaya

?Korea Programme on International Agriculture (KOPIA) Sri Lanka Centre Director Dr. Byoung Choon Jang conducted a trial performance of the Korean rice transplanting machines recently at the rice model farm village in Rajanganaya, Anuradhapura. 

HNB Grameen records impressive 227% profit growth in 1H15

?HNB Grameen Finance Limited has ended the first half of 2015 with a profit before tax (PBT) of Rs.853 million, up from Rs.261 million in the first half of 2014, recording a staggering 227 percent growth in profits.

CCC to discuss what businesses should look out for in 2016

The Ceylon Chamber of Commerce (CCC) will hold a forum titled ‘Global Economy and Sri Lanka - What Can We Expect in 2016’, with the participation of a top panel, which will include the likes of Central Bank...

Employers’ Federation of Ceylon clarifies…

?Apropos to the article titled ‘Employers’ Federation slams private sector wage increase’ published in Mirror Business yesterday, the Employers’ Federation of Ceylon (EFC) sent the following clarification.