Aitken Spence plans right product to boost port capacity

Aitken Spence PLC plans to provide Fiji with the right products to boost capacity.For the last 15 months since it sealed a public-private partnership to manage Fiji’s international ports, the Sri Lankan firm has invested up to US $ 4.7 million.

Service failure is service failure

It’s 7.25 p.m. as you arrive with your wife and son, to be greeted by the hostess standing at the entrance to the restaurant, with a ‘Do you have a reservation?’ There was no ‘Good Evening’ or similar salutation, surprisingly so, for a property that claims to be ‘forever everlasting’.

Why family businesses matter so much for an economy?

Rudy you’ve invested the last 20 years of your professional career in, as you say, “Keeping family businesses healthy.” That’s admirable but why did you choose this profession? Or should I call it “your passion?”To answer your question why I became so deeply i nvolved i n family business consulting, I have to acknowledge I was being prepared for this “mission” much of my life.

CLA workshop on ‘new product development’ next week

Colombo Leadership Academy’s (CLA) latest programme ‘Discover winning strategies for new product development’ will be held on 17th February.The programme will empower participants to discover winning strategies for new product development and help ensure your products have a real winning advantage.

Swiss saga!

A cache of leaked Swiss bank files analysed by a network of investigative reporters contained information linked to 92 Sri Lankan clients holding 129 accounts with a total value to the tune of approximately US $ 58.3 million (approx. Rs.7.7 billion).

Northwood College ends year with ‘ARUNALU’ Concert, Inaugural Prize giving and Christmas carols

The Northwood College ended the year 2014 successfully with the annual ‘ARUNALU’ 2014 concert and an inaugural prize giving.  Amidst  the distinguished gathering which took place recently, S. Dandeniya, the Principal of Musaeus College graced the occasion as the Chief Guest while Guest of Honour, Sumathi Dharmawardene and Rohini Alles were also present together with special invitees, parents, corporate partners and other wel

Switzerland’s Cotecna opens Lankan office

Cotecna Inspection S.A., Geneva, Switzerland, the world leader in quality control launched its new Cotecna Lanka office recently with the patronage of an esteemed gathering of the leading business community in Colombo.

Asian Alliance Insurance launches ‘Digital Academy’

Asian Alliance Insurance, as a part of its corporate responsibility contribution towards the insurance industry and all those who have an interest in the field, recently launched an i nformation platform for i ndustry professionals, a portal linked to the company website titled ‘Asian Alliance Digital Academy’.

Seylan rewards Twitter promo winner

Being in the forefront in the social and digital marketing sphere in the financial sector in Sri Lanka, the Bank with a heart – Seylan Bank not only engages with its customers but rewards them by giving their fans on the social media channels valuable and attractive gifts.

Ceylinco Life opens new Batticaloa branch in own building

Life insurance leader Ceylinco Life has opened its new branch in Batticaloa in a custom-built building on company-owned land, further consolidating its presence in the east of Sri Lanka.

HNB opens ATM at CA Sri Lanka

Hatton National Bank (HNB) recently opened an ATM at the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka).The ATM was opened to enhance the services offered for the benefit of all CA Sri Lanka members, students and staff.

Relief delivered: Fiscal sustainability in question

The Pathfinder Foundation (PF) has been consistent in its call for prudent fiscal management and market-oriented policies. In Economic Alert No: 67 titled ‘The election manifestos: An auction of nonexistent resources and beyond’, it highlighted the populist nature of the manifestos of the two main candidates and the need for fiscal discipline. The subsequent Economic Flash 57 titled ‘Economics of the 100-day programme: Word of c

Great organisational culture starts with ethical decision-making

Increasing number of evidence suggests organisational culture affects the strategic organisational decision-making. The evidence suggests that in a specific cultural context a particular form of participate decision-making is more appropriate than others.

Investing in dividend stocks

Many people invest in dividend-paying stocks to take advantage of the steady payments and the opportunity to reinvest the dividends to purchase additional shares. Since many dividend-paying stocks represent companies that are considered financially stable and mature, the stock prices of these companies might steadily increase over time while shareholders enjoy periodic dividend payments.

Expolanka 3Q net down 47% amid sell offs

Diversified freight and logistics group Expolanka Holdings PLC saw its December quarter (3Q15) net profit declining by as much as 47 percent year-on-year (YoY) to Rs.362.2 million, amid selling off its non-core business units.

CB Governor expects inflation to drop

Central Bank Governor Arjuna Mahendran expects inflation to come down from this month onwards, despite some speculating the possibility of demand-driven inflation amid state-sector salary increases and other welfare giveaways proposed in t he revised budget.“My expectation is t hat inflation will start to come down from February onwards. The impact of reduction in petroleum products in January and the impact of food prices reduction will ha

Many revisions to revised budget

Many proposals in the revised budget of the new government that was passed in Parliament last Saturday were amended or further revised, following feedback received from the public.

WOW.lk Signs up with JKOA as Official Online Partner

Continuously revolutionizing e-commerce innovation in the country, Sri Lanka’s largest  online shopping mall, WOW.lk recently signed up with John Keells Office Automation (Pvt). Ltd. (JKOA) as the company’s online partner. JKOA is a wholly owned subsidiary of John Keells Holdings, Sri Lanka’s largest and most respected conglomerate and this partnership will further add to the advancement of the online retail space in the co

Treat Your Loved One to a Memorable Valentine’s Day with Hameedia

Continuously setting the benchmark in the fashion industry, Hameedia, Sri Lanka’s leading menswear specialist is celebrating Valentine’s Day by providing 30 lucky couples with the chance to attend a special Valentine’s Day dinner dance.  Customers making purchases over Rs. 7500 at any Hameedia, Planet Fashion and Raymond outlets from 1 – 13 February 2015 will be entered into a draw for the grand Valentine’s Day

Ajai V Singh appointed to the Commonwealth Fashion Council

Ajai V Singh, President, Colombo Fashion Week, has been appointed as a founding council member of the Commonwealth Fashion Council based in London. The Commonwealth Fashion Council brings together key leaders from the Commonwealth fashion industries, aiming to empower citizens through creativity, fashion and expression. Singh is among six Asian representatives who have been invited to sit on the council as the founding members. 

Top Lankan-born venture capitalist calls on President

Sri Lankan-born Silicon Valley technologist and ‘Social + Capital’ venture capital firm founder, Chamath Palihapitiya met President Maithripala Sirisena recently to discuss opportunities available here and to play a role in the growth of the country. Palihapitiya was in Sri Lanka on the invitation of State Minister of Defence Ruwan Wijewardena.

CFW Announces Pop Up Store Design Contest

Colombo Fashion Week (CFW) is seeking young, creative and innovative students of architecture to design a unique retail space, which will be displayed at the upcoming Design Trunk Show. This unique showcase provides an innovative retail opportunity for established and up-and-coming Sri Lankan designers and will take place during the CFW Spring/Summer 2015 show at the Hilton Colombo from 11 to 14 March 2015. 

Online category introduced for the first time in Sri Lanka

The SLIM-Nielsen Peoples’ Awards 2015 has taken leaps forward in ensuring that the true voice of the Sri Lankan people is reflected in the recognition of the most appreciated brands and personalities island-wide.

Arpico opens 17th Superstore at Kottawa

The Arpico retail chain in Sri Lanka opened its latest Superstore in Kottawa recently, making it the 17th hypermarket in its portfolio.The new store located at No: 296, High Level Road, Makumbura, Kottawa offers 10,000 square feet of retail space.It was ceremonially declared open by Professor Lakshman R. Watawala, Group Director of Richard Pieris & Company PLC.

Record smartphones sales help LG profits soar in 2014

LG Electronics Inc of South Korea announced that it posted an improved US$ 475 million profit after shipping a t otal of 59.1 million smartphones, a 24 percent increase in phones sales alone over the previous year contributed to the company’s profitability.

Investing in agarwood? Take some advice from pioneers in business

The persistent and culturally-embedded nature of demand for agarwood by endconsumers has placed the current global market at an estimated range of US $ 6 – 8 billion with rapid growth foreseen in the future. Resinous agarwood is extracted from Aquilaria trees and its unique fragrance is widely used in world-class perfumes, traditional medicine, incenses, aroma therapy and cosmetics.

Rubber Products Industry Needs Support For Further Growth

Within a relatively short period, the Sri Lankan rubber products manufacturing industry has successfully evolved from a relatively small and unknown entity and has become a reputable major world supplier of quality rubber products.

Need to diversify export items and destinations

Sri Lanka, since colonial era, has been playing a significant part in international trade.As a country that is blessed with natural resources, the main reason as to why imperialists came to this tiny island was its export-oriented natural resources such as spices mainly cinnamon.

Climate change to hit world’s poor harder than predicted

In a recent study done by Frances Moore and Delavane Diaz of Stanford University which focuses on climate ‘damage functions’ point to stronger impacts on the world’s poor that will be caused by climate change, than predicted before.

Kia opens showroom and service centre in Kurunegala

Kia Motors (Lanka), the sole local distributor for the stylish Korean automobile brand, has opened a sparkling new showroom and service centre in Kurunegala as part of a dealer development initiative being rolled out in Sri Lanka.