Lanka Ashok Leyland records sharp top-line growth in 2Q and 1H

?Lanka Ashok Leyland PLC, an Indo-Lanka joint venture importing and assembling buses, has seen a sharp growth in its top-line for the quarter (2Q16) and first half (1H16) ended September 30, 2015, interim financial accounts released to the Colombo Stock Exchange showed. 

Oil palm boosts Watawala Plantations 2Q profits

Sunshine Holdings PLC’s plantation subsidiary Watawala Plantations PLC posted a net profit of Rs.131.08 million for the second quarter ended September 30 (2Q16), representing a 320 percent increase year-on-year (YoY), with the oil palm sector coming for a bail out.

Ministerial task force to look into tea industry woes

Prime Minister Ranil Wickremesinghe has instructed that a task force be set up to look into the tea industry following discussions with the planters this week

CSE’s Zurich forum draws strong interest from Swiss-based investors

The first-ever capital market investor forum held in Switzerland yesterday proved to be an outstanding success. Titled ‘Invest Sri Lanka’ and organised by the Colombo Stock Exchange (CSE) in association with the Swiss Asian Chamber of Commerce (SACC)...

Sri Lanka’s business climate looks up; rank slips

Sri Lanka’s Ease of Doing Business ranking slipped eight positions to the 107th place for 2015 from the 99th position in 2014, according to the World Bank’s Doing Business 2016 report that was released Tuesday.

Western Province continues to retain crown as largest contributor to GDP

Sri Lanka’s Western Province continued to be the highest contributor to the country’s gross domestic products (GDP), accounting for 42 percent in 2014, little changed from the previous year.

Lanka Tiles celebrates 1st anniversary of Tilers’ Club

?Lanka Walltiles PLC and Lanka Tiles PLC, the pioneers of wall and floor tile manufacturing in Sri Lanka, recently celebrated the 1st anniversary of the Lanka Tiles Tilers Club. 

EDB Chairman Egodage steps down

Sri Lanka Exports Development Board (EDB) Chairman Bandula Egodage stepped down from the top post with effect from yesterday. Egodage, a well-known and respected private sector executive, was the 11th EDB Chairman. 

Emerald introduces revolutionary Flexi-Collar shirt

?Emerald, Sri Lanka’s premier brand of men’s shirts, did away with the discomfort of constricting collars when one is buttoned up with the launch of its Flexi-Collar shirts.

Experience the adidas football revolution in Sri Lanka

The world renowned sports brand adidas recently launched its latest football boots promotion at selected outlets across Sri Lanka.

DB Schenker Partners with Aitken Spence in Sri Lanka and Maldives

DBS Logistics Ltd was formed to solely represent DB Schenker in Sri Lanka and Maldives for Air & Ocean Freight as well as Project Cargo

DFCC Bank & SYNAPSYS launch ground-breaking “Supplier Settlement System” with convenience of ‘V Cash

In an effort to support Sri Lanka’s SMEs and the country’s large community of tea leaf suppliers, DFCC Bank recently launched the ‘V Cash Card’. 

Sri Lanka – Indonesia Business Council holds it’s 22nd Annual General Meeting

?Sri Lanka – Indonesia Business Council (SLIBC) which functions under the aegis of the Ceylon Chamber of Commerce held its 22nd Annual General Meeting on 16th September 2015,

Capt. Suren Ratwatte appointed as CEO of Mihin Lanka

Capt. Suren Ratwatte was recently appointed as the Chief Executive Officer of Mihin Lanka with effect from October 2015. Capt. Ratwatte was also appointed as the CEO of SriLankan Airlines and will take over the operational and strategic management of both airlines. 

Amãna Bank commemorates National Pensioner’s Day

Having launched its very own Pension Saver Account recently, Amãna Bank has commenced a special promotion to mark National Pensioner’s Day which was commemorated on 8 October 2015.

Sri Lanka’s public sector to embrace int’l accounting standards soon

In a bid to bring transparency and accountability into the Sri Lanka’s public sector marred by corruption, the government is planning to adopt the International Public Sector Accounting Standards (IPSASs) soon, according to the senior most official of the country’s sole accounting standards setting body. 

Electronic surveillance system to eliminate financial malpractices

The government will be implementing an electronic surveillance system to monitor all financial transactions and eliminate corruption in the country as it enters into the digital age.

Sri Lanka opts for another dollar bond to cut fiscal deficit

Sri Lanka, for the second time this year and ninth time since 2007, is tapping the international market place to prop up the country’s weak finances with a benchmark sovereign bond issue up to US $ 1 billion. 

A wild experience for jeep owners

?Freedom culture embedded with adventure and capability are at the core of jeep life, which creates the unique identity of Jeep enthusiasts. 

Maruti’s premium hatchback Baleno launched for Rs. 4.99 lakh

The Hindu: Maruti Suzuki on Monday rolled out its premium hatchback Baleno with an aggressive price tag in a bid to cash in on the festive season. 

Electro Automotive launches second FCPU in Galle

Electro Automotive (Pvt.) Ltd launched their second fast charging power unit (FCPU) in Galle at Dadella, Galle recently under the patronage of Petroleum Resource Development Minister Chamdima Weerakkodi.

Firms target digital-savvy, eco-conscious drivers

AFP: Toyota’s three-seater exoskeleton car and an electric vehicle with touch screens that turn it into a “digital space” are among the concept models that will be on display at the Tokyo Motor Show this week.

Fitch forecasts steady demand for Sri Lanka’s consumer durables

The conducive demand environment for Sri Lanka-based consumer durables is likely to continue in the short to medium term despite possible headwinds from depreciation in the Sri Lankan rupee against major currencies and higher import tariffs, Fitch Ratings said in a new report. 

Cold Stores 2Q net up 129% to Rs.706mn

Ceylon Cold Stores PLC (CCS), a unit of John Keels Holdings that has interests in consumer goods, manufacturing and retailing, saw its consolidated net profit for the September....

FMCG business boosts Keells Food 2Q16 profit by 80%

Keells Food Products PLC, the processed food manufacturing arm of the country’s largest conglomerate, posted a net profit of Rs.95.50 million for its second quarter ended September (2Q16), increasing 80 percent from Rs.53.19 million year-on-year (yoy).

Axiata Group’s dollar denominated Sukuk trust certificates assigned ‘BBB’ rating

Standard & Poor’s Ratings Servics (S&P) yesterday assigned its ‘BBB’ long-term issue rating to proposed benchmark size U.S. dollar-denominated sukuk trust certificates by Axiata Group Bhd (BBB+/Stable/--; axA+/--), a Malaysia-based telecommunications holding  company. 

Capt Ratnayake creates a ‘first’ in local aviation

Capt. Milinda Ratnayake made history recently when he became the first Sri Lankan to be offered a role at the Flight Operations Group at the International Air Transport Association. 

CCC and Japan’s Kansai Economic Federation sign cooperation agreement

An agreement was signed when the Ceylon Chamber of Commerce together with the Sri Lanka – Japan Business Cooperation Committee participated in a ‘Round table’ meeting with a top Japanese biz delegation led by the Kansai Economic Federation to explore business opportunities in the Island.

AIA Sri Lanka’s Ajith Fernando creates MDRT history

AIA Sri Lanka’s most awarded Wealth Planner, Ajith Fernando has just netted the ‘piece de resistance’ of Million Dollar Round Table (MDRT) achievements – the Honour Roll. 

New Zealand business delegation visits Sri Lanka

Seventeen New Zealand companies will visit Sri Lanka next week to further strengthen business links between the two countries.