Govt. revenue jumps over 20% on excise, vehicle tax

?REUTERS: Sri Lanka’s government revenues jumped by more than a fifth in the first seven months of this year, data showed yesterday, as the new government sought to improve tax collection and cracked down on corruption.

NDB records Rs.1.4bn first half profit

?National Development Bank PLC (NDB) saw its group net profit for the first half ended June 30 (1H15) falling 29 percent yoy to Rs.1.44 billion amid a slow down in the banking group’s top line.

Cinnamon-Colombo Uni launch specialized Hospitality and Leisure Management degree

Cinnamon Hotels & Resorts together with the John Keells Foundation announced their partnership with the Management and Finance Faculty, University of Colombo (UOC) for the successful implementation of a Bachelor of Business Administration (BBA)...

Caravanning: A new approach to holidaying

Camping out is one of the most exhilarating experiences in life. Moving away from home and having the freedom to live at a picturesque location of choice with nature at the door step is novel and exciting.

Increasing exports to US $ 50bn

At the Sri Lanka Economic Summit held recently, the Prime Minister has indicated that a systemic approach is necessary to achieve the target of US $ 50 billion exports annually. Dinesh Weerakkody responding to this (reference August 10, 2015, Mirror Business)...

Indian court overturns Nestle noodle ban, orders new tests

?AFP: An Indian court on yesterday overturned a government ban on Nestle’s hugely popular Maggi noodles brand, but ordered further tests before the product can go back on sale.

Vote with utmost responsibility: Trade chambers

The trade chambers and a professional body yesterday in a special statement requested all Sri Lankans to cast their votes in the upcoming election with utmost responsibility to elect a stable...

Janashakthi records double digit growth in first half

?Janashakthi Insurance PLC posted a year-to-date gross written premium (GWP) of Rs.4.9 billion as of June 30, 2015, a 15 percent growth year-on-year, to end the first half of the year with after tax profits of Rs.200 million.

Stock market records 2.4% growth so far this year

?Contrary to the general perception the stock market has recorded a growth of 2.4 percent so far for this year. The benchmark All Share Price Index (ASPI) of the Colombo Stock Exchange (CSE) has gone up from 7,298.9 points as at the beginning of the year to 7,471.9 points as at August 12, 2015.

Sri Lanka’s election pledges: Do we really need that many new jobs?

With the general election just days away, all contesting parties have pledged new job opportunities; the United National Party’s (UNP) election manifesto pledges 1 million new jobs in 5 years, the United People’s Freedom Alliance (UPFA) tops it off with 1.5 million jobs by 2020...

BOC supports tea factory owners build working capital

?Bank of Ceylon (BOC) has launched a special loan scheme for tea factory owners to build working capital with the direction received from the Finance Ministry and Central Bank of Sri Lanka (CBSL). 

HSBC Sri Lanka wins Best Consumer Digital Bank Award for 2015

?HSBC Sri Lanka has once again been recognised for its digital capabilities by winning the Best Consumer Digital Bank Award in Global Finance’s World’s Best Digital Bank Awards for 2015 (formerly known as the Best Internet Bank Awards). 

Central Bank issues fresh statement over 30-year bond issue

The Central Bank on Wednesday issued a detailed statement over the controversial 30-year bond issue. The statement explains the decision taken by the Central Bank in February 2015

Changing organisational culture for making profit

Every organisation has its own unique culture. It is difficult to say that one culture is better than another. What can be said is whether the culture is appropriate for the needs and circumstances of the organisation...

Hemas June quarter net profit up 62%

?Diversified Hemas Holdings PLC saw its net profit for the June quarter (1Q16) improving 68 percent year-on-year (yoy) to Rs.415 million, the interim financial accounts released to the Colombo Stock Exchange showed. 

Auto giant VW signs deal to set up assembly plant

German auto giant Volkswagen and its local agent Senok Group yesterday signed a Board of Investment (BoI) agreement to set up a US$ 31 million car assembly plant in Kuliyapitiya.

Authentic leadership: The need of the hour

Today, there is a strong chorus of call for authentic leadership. Growing level of cynicism that many people have expressed regarding leaders around the globe, who seem to pad their own pockets at the expense of their people and the organisations they serve, demand authentic leaders. 

Emergency response ambulance service unveiled for the first time in Sri Lanka

?Sri Lanka’s first-ever emergency rapid response ambulance service was unveiled at the Sri Lanka Foundation Institute recently. The service will be free for all Sri Lankans in every part of the island.

CIC introduces Stevia by PureCircle

Thursday 13th August, 2015, Colombo: CIC’s Industrial Solutions Division is proud to be the sole agent for Stevia provided by PureCircle, a major provider of natural sweeteners to the global food and beverage industry. Stevia is a naturally sourced, zero-calorie sweetener that has been used as a natural sugar substitute and flavouring ingredient for hundreds of years. CIC supplies this natural sweetener for industrial use to food and bevera

Richard Pieris Tyre Company Awards Night for their Top 100 Dealers

Richard Pieris Tyre Company, established as the pioneer in tyre retreading in Sri Lanka hosted their annual awards evening to felicitate highest performing Top 100 dealers on Sunday 28th June at the Cinnamon Grand Hotel.

2015 1st half SLT Group Profits up by 17%

Sri Lanka Telecom, the national telecommunication service provider, released the company’s group financial performance statement for the 1st half of 2015. The group comprises of the holding Company Sri Lanka Telecom (SLT) and its eight subsidiaries including the mobile arm Mobitel (Pvt) Ltd. (Mobitel)  The group reported revenue of Rs. 33.5 bn during the 1st six months of the year 2015, with a 7% growth compared to the same period of

Richard Pieris Finance Company launched their website

Richard Pieris Finance Company launched their website www.rpfinancelk.com by Senior Director Professor Lakshman R. Watawala along with Company Chairman, Felix Fernandopulle and Directors Janaka Hewavitharana, Chandula Abeywickrama, CEO K.M.M. Jabir and the corporate management team. The development enables more convenience to its customers by making fixed deposit, leasing and loan applications available online. 

EAP Broadcasting Company wins big at Sumathi Awards 2015

Wednesday 12th August 2015, Colombo: The EAP Broadcasting Company recently won sixteen awards in a variety of categories at the Sumathi Tele Awards held at the Nelum Pokuna Theatre in Colombo. The event was graced by the Chief Guest, His Excellency President Maithripala Sirisena along with leading actors, actresses, journalists and other veterans from the film and entertainment industry. 

Leo Burnett celebrates 80 years of creative excellence

Wednesday 12th August 2015, Colombo: Leo Burnett Worldwide celebrated 80 years as a pioneer in the global creative community, on 5 August 2015. Starting in 1935 with its first client, Leo Burnett took a humble tin of peas and grew it into a giant, the Jolly Green Giant, who lives on 80 years later. The agency led the industry in adopting television advertising as a visual medium in the 1950s and in 2000, the agency was one of the first to create

Crysbro celebrates 43 years’ history with 43 recipes for Crysbro chicken

‘Culinary Arts Exhibition’ was celebrated on 24th, 25th and 26th of July at the Sirimavo Bandaranaike Conference Centre. Among the numerous participants at this Exhibition, the Crysbro Chicken stall was the most noteworthy, attracting a large number of attendees. Designed in the form of a modern and spacious kitchen, this stall was based on the theme ’43 Recipes with Crysbro Chicken’.

Hirdaramani’s Mihila factory in Agalawatta wins World Textile Award

Tuesday 11th August 2015, Colombo: The Hirdaramani Group’s Mihila factory in Agalawatta recently won a prestigious World Textile Award in the ‘Garment Maker of the Year 2014’ category. The awards provide a global platform that recognizes, encourages and rewards excellence across all levels of the textile industry. Mihila, which translates to Earth, is part of the Hirdaramani Group and has been in operation since 2009. With a rev

UNP says lessons learnt!

The United National Party (UNP) has recognized its mistakes in managing the economy in 2001, and the lessons learnt will be implemented in a future UNP government, said Finance Minister Ravi Karunanayake at a discussion organized by the Industry and Commerce Forum.

JAT shines at NASCO Awards

?JAT Holdings walked away with two Gold awards, a Silver award and a Bronze award at the SLIM NASCO Awards 2015, showcasing the excellence of the sales force at JAT Holdings.

Nestlé Lanka 2Q net profit up 33% to Rs.1.3bn

?Nestlé  Lanka PLC, the local unit of Swiss food and wellness company saw its net profit for the quarter ended June 30, 2015 (2Q15) increasing 33 percent year-on-year (yoy) to Rs.1.3 billion.

Laugfs to set up LPG storage terminal at H’tota Port

Laugfs Gas PLC, Sri Lanka’s only private cooking gas distributor yesterday informed the Colombo Stock Exchange (CSE) its ambitious plans for the Chinese-built Hambantota Port.