Hameedia hosts opening event for the International Film Festival of Colombo

Hameedia recently hosted the opening dinner for the International Film Festival of Colombo for the second consecutive year. The festival took place from 6 – 11 November 2015 and was attended by a distinguished gathering of renowned actors, actresses, filmmakers, filmgoers and critics from around the world. 

Maliban implements Sri Lanka’s first SAP S4 HANA solution

?Maliban Biscuit Manufactories Limited has partnered with the country’s leading SAP (Systems, Applications & Products) Service provider John Keells Holdings’ Strategic Group Information Technology (SGIT) team to implement SAPs’ latest release. 

SLASSCOM supports national IT week

?SLASSCOM will conduct 2 workshops and 3 technology discussions from November 16 to 23, focusing on cutting edge technology tools and concepts to support the ‘National Information and Communication Technology Week’. 

ICRA Lanka upgrades LOLC to [SL] A; outlook stable

ICRA Lanka Limited, a group company of Moody’s Investor Services, has upgraded the credit rating of Lanka ORIX Leasing Company PLC (LOLC) and its financial services subsidiaries LOLC Finance PLC (LOFC) and Commercial Leasing & Finance PLC (CLC)...

Employers urge to extend existing plantation’s collective wage agreement

As matters have moved from bad to worse for the plantation sector, employers have urged the government to intervene and extend the existing collective wage agreement for the next 12 months, which would provide the much-wanted relief for the dampening industry.

Sri Lanka’s October vehicle registrations up

Vehicle registrations for October increased to 55,844 from 50,489 year-on-year (YoY), but fell from a record 64,020 set in September, possibly due to the confusion over the loan-to-value (LTV) ratio set by the Central Bank to curb vehicle imports...

New Tourist Board Chairmen get letters of appointment

?Letters of appointment have been sent to the individuals who were recommended to the posts of Chairmen at the Tourist Board, Mirror Business learns. 

NTB 3Q net down 18% over gilt losses

Nations Trust Bank PLC (NTB) contracted its net profit by 18 percent to Rs. 680.9 million for the quarter ended September 30, 2015 (3Q15) from a year ago as the bank made mark-to-market losses on its investments made in the government securities...

Weak rupee costs Dialog over a billion; 3Q net profit down 60% to Rs.679mn

The country’s largest mobile telecommunications operator Dialog Axiata PLC (Dialog) saw its net profits for the quarter ended September 30, 2015 (3Q15) falling by as much as 60 percent to Rs.679.06 million from a year ago due to the weakening rupee. 

Alibaba’s ‘Singles Day’ shopping spree

?A woman walks out a shop past a ‘Singles Day’ sales promotional board in Beijing yesterday. Shoppers spent around US $ 9 billion in the first 12 hours of China’s ‘Singles Day’ sale yesterday, e-commerce giant Alibaba said, in the world’s biggest online shopping day (AFP PHOTO)

Reforming Sri Lanka’s trade and investment policies for export growth

Sri Lanka’s recent trade performance has been far from satisfactory especially since 2000, marked by a decline as share of the country’s GDP as well as of world trade.

Amãna Bank bottom-line grows by 171% at 3Q end

Amãna Bank, Sri Lanka’s premier non-interest based banking institution, continued its upward profitability momentum by recording a 3Q profit of Rs. 50.6 million following its 1Q and 2Q profit of Rs. 23.1 million and Rs. 47.5 million respectively. The Bank’s Operating Profit before Value Added Tax for the nine months ended 30 September 2015 increased to Rs. 225.2 million.

Hatton National Bank launches next-generation website

Hatton National Bank PLC launched its brand new website recently.  The new site, which targets both individual and corporate customers, was designed to become a benchmark amongst websites in the banking sector. 

Vallibel Finance expands reach to Piliyandala and Warakapola

The cutting edge Vallibel Finance continues its ambitious expansion drive with the opening of two new branches in Piliyandala and Warakapola.  In a quest to enhance 

Asian Alliance clinches coveted Asia Insurance Award

Emphatically reiterating its status as Sri Lanka’s most innovative insurer as well as a regional leader in innovation in the insurance industry, Asian Alliance Insurance PLC clinched the prestigious ‘Innovation of the year’ award at the 2015 edition of the coveted Asian Insurance Awards, the region’s only awards ceremony of its kind.

Cargills Bank opens 6th branch in Vavuniya

Matara, Maharagama and Vavuniya branches were opened under the first stage on the 5th, 6th and 9th of November respectively.  New branches will also be established in Jaffna, Kurunegala, Hawa-Eliya, Thanamalwila and Chunnakkam in the near future.

BlackBerry Priv wins plaudits, but price tag questioned

REUTERS: BlackBerry Ltd launched its first Android-based device recently, with the future of the company’s hardware business riding on a slick smartphone called Priv that boasts an impressive array of features and a hefty price tag.

Micromax latest 3G Canvas Express disrupts local Smartphone market

Micromax Informatics Ltd., the world’s 10th largest handset company and one of the highest selling mobile brands in Sri Lanka recently launched the Canvas Express, its latest best in class technology smartphone offering.

MyDeal.lk celebrates 4 years of ‘The best deals in town’

In this day and age where ‘startup’ is the buzzword and ecommerce companies are mushrooming, one of Sri Lanka’s pioneer daily deal website startups, MyDeal.lk celebrated 4 years of successful operations in Sri Lanka. 

D. Samson & Sons (Pvt) Ltd Opens a New “W” Exclusive Store in Colombo 4

D. Samson & Sons (Pvt) Ltd celebrated the ending of a truly fruitful month with the opening of a brand new “W” Exclusive store on the 31st of October 2015 at No.515 Galle Road, Colombo 4.  

D. Samson & Sons (Pvt) Ltd holds Dealer Conventions for the Dealers of Batticaloa, Kegalle & Rathnap

?The end of October proved to be a most fruitful period for D. Samson & Sons (Pvt) Ltd as they hosted their Annual Dealer Conventions in Rathnapura and Batticaloa.

Amãna Bank bottom-line grows by 171.8% at Q3 end

Amãna Bank, Sri Lanka’s premier non-interest based banking institution, continued its upward profitability momentum by recording a Q3 profit of LKR 50.6 million following its Q1 and Q2 profit of LKR 23.1 million and LKR 47.5 million respectively.

Smart City: Sri Lanka’s next step towards a viable future

Amongst many technological notions and ideas that have been discussed since the dawn of the millennium, the ‘smart city’ concept has been one of the best-spoken theories around the world at many forums and discussions.

Laugfs launches mobile app for iOS and Android phones

?Laugfs recently launched its very own mobile application, providing customers with a single mobile platform to access a range of Laugfs businesses from Laugfs Gas and Supermarkets to Eco Sri and Laugfs Car Care.  

Hemas-SLINTEC drive innovation in personal care market

?Hemas continued on its path of innovation by entering into a research agreement between Hemas Manufacturing (Pvt.) Ltd and Sri Lanka Institute of Nanotechnology (SLINTEC) to expand the personal care product portfolio by adding a revitalizing skin care solution.

Sri Lanka’s laws to protect consumer rights inadequate: Eran

The country’s laws to protect consumer rights are inadequate and the Consumer Affairs Authority (CAA) must listen to the voice of the people, the Public Enterprise Development Deputy Minister said at the Sri Lanka Economic Association Annual Sessions.

CF Ruffer Fund acquires 3.29% in Asiri Hospitals

?London-based CF Ruffer Pacific Fund, part of Ruffer LLP, has acquired a 3.29 percent shareholding in Asiri Hospital Holdings PLC, becoming its fourth largest shareholder, the financial results released for the quarter ended September 2015 show.

TEA discusses industry crisis with producers

?The tea producer sector stakeholders recently discussed the current tea market situation at a meeting convened by the Ex-Co of the Tea Exporters’ Association (TEA).

Hayleys net profit up 6% to Rs.629.14mn in 2Q

?Diversified conglomerate Hayleys PLC posted a net profit of Rs.629.14 million for the second quarter ended September (2Q16), increasing 6 percent year-on-year (YoY) supported by the transport and logistics, agriculture and purification product segments.

Madulsima Plantations records Rs.87.41mn net loss in 3Q

Madulsima Plantations PLC’s bottom line fell further down to a Rs.87.41 million net loss for its third quarter ended September (3Q15) from a Rs.35.56 million net loss year-on-year (YoY) reflecting the negative performance of a majority of plantation companies which have not diversified into palm oil.