Sri Lanka’s largest brewer slams govt. on alcohol policy

Fully-charged Lion Brewery Ceylon PLC, Sri Lanka’s largest brewer, has slammed the new government for toying with the country’s alcohol policy, endangering the health of the population. 

Sampath Bank social responsibility feted as best in the country

Sampath Bank, renowned as a responsible corporate citizen, was yet again duly honoured for its genuine efforts when the bank clinched the Gold award in the category of CSR Brand of the Year at the recently concluded SLIM Brand Excellence Award Ceremony held at the BMICH. 

Seylan annual report wins Gold, Silver, Bronze awards at int’l competitions

?The Seylan Bank 2014 annual report (‘It’s A Beautiful Performance’) won Gold, Silver and Bronze awards at the recently concluded ARC International Awards and League of American Communications Professionals (LACP) Vision Awards.

NDB holds Investor Forum

?National Development Bank PLC (NDB) held an ‘Investor Forum’ recently to present the financial performance on the first nine months of 2015. The bank announced that it had continued its growth momentum with resilience and strength. 

Sampath Bank Rs.7bn debenture issue an overwhelming success

?Sampath Bank’s unsecured subordinated redeemable debenture issue was successfully oversubscribed over its initial issue and thus closed on the opening day itself in a strong expression of investor confidence.

CIC 2Q profits boosted 40% by agri, livestock operations

Agrochemical giant CIC Holdings PLC (CIC) posted a net profit of Rs.257.07 million for its second quarter ended September 2015 (2Q16), improving 40 percent year-on-year (YoY) through contributions from the agriculture and livestock sector.

Tokyo Cement net down 14%; Norwegian central bank among shareholders

Sri Lanka’s largest cement manufacturer Tokyo Cement Company (Lanka) PLC saw its group net profit for the September quarter (2Q16) falling 14 percent year-on-year (YoY) to Rs.489.7 million amid slower top line growth.

Aitken Spence Hotel 2Q net profit flat amid weak Maldives

?Aitken Spence Hotel Holdings PLC, which is the second largest hotel operator in Sri Lanka, posted a net profit of Rs.210.21 million for the quarter ended September 2015 (2Q16)...

Rupee near record low on importer dollar demand

?REUTERS: The Sri Lankan rupee ended weaker yesterday, not far from an all-time low hit in the previous session, on importer dollar demand, while a private bank’s greenback sales prevented further fall in the local currency, dealers said.

Another twist in Grand Hyatt saga

A letter from Public Enterprise Development Minister Kabir Hashim revealed that he intends to change the entire board of directors of the state-owned Grand Hyatt Hotel holding company Canwill Holdings (Pvt.) Ltd (Canwill).

Kelsey Development set to launch gated housing project in Negombo

Schaffter family controlled Kelsey Development PLC is preparing to launch a gated housing project in Negombo in the 1st quarter of the 2016/17 financial year, the company’s interim financial statements said.

Ceylon Hotels Corporation to fully acquire Ceylon Hotels Maldives

Ceylon Hotels Corporation (CHC) yesterday announced it has received the green light to fully acquire Ceylon Hotel Maldives (CHM) through its fully owned subsidiary United Hotels Company (UHCL).

Colombo Dockyard PLC on track towards steady financial progress

Having battled a period of struggle, Colombo Dockyard PLC is observed to be making continued financial progress as the September quarter (3Q15) saw its net profit soar 405 percent year-on-year (YoY) to Rs.183 million,..

Achieving success in upcoming tourist season

For the last few years Sri Lanka has achieved a remarkable tourist influx mainly due  to the prevailing peaceful situation of the country, policy decisions of tourism authorities and aggressive promotion. 

Labour market reforms for growth

Following the global financial crisis that depressed growth, the call for reforms to create more and better jobs resonated across the world. Better jobs can improve economic growth, reduce poverty and aid social harmony. 

Improving productivity: Not possible with a “slow motion” citizenry

There is a renewed interest in productivity with the new Government taking office, and many Ministers have pronounced the need for productivity improvement as means of achieving higher economic growth and thereby delivering prosperity and a higher standard of life to the people of the country. 

Etihad increases commitment to Morocco with new Rabat service

Etihad Airways, the national airline of the United Arab Emirates (UAE), is increasing its presence in Morocco with the launch of a new twice-weekly service between Abu Dhabi and Rabat to create a direct link between the two capitals.

Turkish Airlines records over US $ 8bn sales revenue in 2015 first nine months

Turkish Airlines nine months 2015 consolidated financial statements were reported to Borsa Istanbul. According to the audited IFRS USD financial statements, compared to the same period of 2014, Turkish Airlines sales revenue decreased by 6 percent and stood at US $ 8 billion 54 million. 

Travel Outlook shows remarkable performance: Managing Director

Travel Outlook, a destination management company (DMC), started its operations in March 2015 with a mission to provide a convenient, one-stop shop offering comprehensive travel solutions. 

Emirates SkyCargo’s new freighter terminal officially inaugurated

Emirates SkyCargo’s state-of-the-art cargo terminal at the Logistics District in Dubai South was officially inaugurated by Emirates Airline and Group Chairman and Chief Executive Sheikh Ahmed bin Saeed Al Maktoum, further establishing Dubai as a leading global air cargo and logistics hub. 

Kuwait Airways introduces new First Class experience

Kuwait Airways, the national carrier of the State of Kuwait, introduces the new generation aircraft Airbus A330 for its operation. 

Qatar Airways wraps up successful week at Dubai Airshow 2015

Qatar Airways concluded a successful week at the Dubai Airshow, showcasing three of its latest-generation aircraft, the Airbus A350, A380 and the airline’s 25th Boeing Dreamliner, the B787.

Railway quarters completed under Slave Island Redevelopment Program (Stage II) opens

The ceremonial opening and handing over of keys to the residents of the railway quarters Block A&B took place on 29th of October at Justice Akbar Mawatha, Colombo 02. 

SLT fibre optic makes gaming fun again

No more lag, no more disconnections! Sri Lanka Telecom’s next-level fibre optic gives local gamers the chance to take their games to the next level with 100mbps data speeds and optimized packet routing paths. 

Intex South Asia marks debut in Colombo

Sri Lanka takes pride in hosting South Asia’s 1st International Apparel Fabric & Accessories Trade Fair – Intex South Asia 2015 which was declared opened by State Minister of International Trade, Sujeewa Senasinghe at the Sri Lanka Exhibition & Convention Centre, Colombo. 

Tokyo Cement launches Nippon Cement-PRO

In keeping pace with the rapidly changing Sri Lankan skyline, Tokyo Cement Group added yet another feather to its cap with the launch of ‘NIPPON CEMENT – PRO’ a new brand of high performance cement specially formulated...

We are driven to demonstrate ways in which energy can be conserved whilst maximizing profits – Acces

?Following are excerpts of the interview with Roshal Perera, Director of Access Energy Solutions (Pvt) Ltd.

Flexible Autos appoints Hayleys Travels as representatives

?Hayleys Travels has been appointed to represent the global car hire broker Flexible Autos in Sri Lanka and the Maldives.

SLT group revenue up by 6%, with healthy EBITDA margins, in 1st nine months - 2015

Sri Lanka Telecom, the national telecom services provider released its company and group financial performance, for the 3rd quarter 2015

Aitken Spence 3Q profit down as power sector contribution shrinks

The diversified conglomerate, Aitken Spence PLC saw its net profit for the quarter ended September 30, 2015 (2Q15) contracting by as much as 37.6 percent to Rs.361 million from a year ago as the group’s...