Orange Electric Launches ‘Office Automation 2014’

Orange Electric, a member of the Orel corporation and a company specialising in the manufacture of world class electrical and lighting products, launched “Office automation 2014” last week, where they showcased some of the next generation high quality products manufactured to international standards as well as top end products of partners which would be distributed locally under the Orange banner.

Allianz Lanka expands reach to Chunagam

Allianz Lanka opened its seventh branch in the Northern peninsula, in Chungam, bringing its branch tally to 58 fullyfledged branches located islandwide.The past two years saw the company rapidly expanding its presence throughout the island. Nine branches were opened this year (2014) and 18 branches were opened last year (2013). This rapid growth and expansion reflects the company’s change of business model in 2013, to increase focus on d

Mihin Lanka continues to offer exceptional hospitality

Mihin Lanka is Sri Lanka’s national low-cost carrier and takes great pride in connecting its customers with the rest of the region and the world. Dedicated to offering a comfortable flying experience at an affordable price, Mihin Lanka provides convenient flights to an array of popular destinations.The airline has long been recognized for its commitment t o providing exceptional hospitality and i n a recent customer testimonial Piumee Vi

Qatar Airways partners on fam trip to Athens

In order to honour its valuable partnerships, Qatar Airways recently organised a familiarisation trip exclusively for key partners of the travel and trade fraternity in Colombo.

Oman Air and Standard Chartered sign landmark financing deal

Oman Air, the national carrier of Sultanate of Oman, and Standard Chartered, through its awardwinning Aviation Finance team, Pembroke, have signed a Sale and Operating Leaseback transaction for three B737-800 aircraft.

Restrictions On Female Migrant Workers Discriminatory Or Improving Family Wellbeing?

Female migrant workers make a vital contribution to the Sri Lankan economy, mainly through remittances. However, this economic gain often comes at a heavy social cost on the children they leave behind. This article, written to coincide with the International Migrants Day, is aimed at highlighting the discriminatory nature of the recent restriction on labour migration of mothers.

CEAT’s top 125 dealers feted in Malaysia

One hundred and twenty five of Sri Lanka’s leading tyre dealers celebrated their success in style in Malaysia recently when they were felicitated at an awards ceremony by CEAT.

DIMO wins Gold at SLITAD People Development Awards

DIMO’s unique approach to talent development and commitment to deliver its employee value proposition of ‘making work enjoyable and rewarding’ through alignment to business strategy, capability building and employee engagement resulted in DIMO being recognized with a Gold award at the SLITAD People Development Awards held recently.SLITAD People Development Awards are presented by the Sri Lanka Institute of Training and Develo

Ceylinco Life fastest to achieve a Life Fund of Rs.60bn

Sri Lanka’s life insurance leader Ceylinco Life has announced that the company’s Life Fund exceeded Rs.60 billion at the end of November 2014 and is a strong indication of the financial strength of the company, a statement released by Ceylinco Life said.It said Ceylinco Life is the fastest among local life insurers to achieve a Life Fund of Rs.60 billion.Total assets grew by a robust 19.4 percent to Rs.76.35 billion as at September

Seylan Bank Rs.3bn initial debenture tranche oversubscribed

Seylan Bank PLC (Seylan) said the Rs.3 billion first tranche of its Rs.6 billion debenture issue was oversubscribed on the opening day.The bank said it had no intention to proceed with t he second tranche and therefore, the issue was closed yesterday.The bank issued 30 million debentures at Rs.100 each and was to upsize the issue in event of an oversubscription of the initial tranche.

Harsha slams govt. over EPF

United National Party MP and economist Dr. Harsha de Silva yesterday said that the Employees’ Provident Fund (EPF) was being looted by the government accomplices through the stock exchange and the latest evidence to prove this had been given by the Auditor General’s (AG) observations.Quoting the 2012 report of the AG, Dr. De Silva said the AG had mentioned that he cannot accept the account reports given to him on the EPF investment

Achieving Results is Good Governance: MR

Political continuity, good governance, stability and end of corruption were the key messages conveyed by President Mahinda Rajapaksa when top businessmen rallied towards his cause yesterday at a business forum titled ‘Momentum’ - Asia’s Largest Synchronized Forum hosted by ‘Professionals for a Stable Sri Lanka’.

ASUS offers seasonal gifts for consumers

Global consumer notebook brand ASUS, unveiled a range of special promotions for their loyal consumers for the festive season.Consumers purchasing ASUS products this holiday season will be entitled to exciting gifts including branded Swiss knives, wall clocks, umbrellas and t-shirts at any of the brand’s retail outlets across the island.

BOC To Improve Environs Of National Hospital Colombo

The National Hospital of Sri Lanka, Colombo (NHSL) serves over 10,000 outpatients daily and accommodates 3500 resident patients. The management of the NHSL aims to upgrade its standard and i mprove the surrounding environment to become the best government hospital in South Asia.Bank of Ceylon ( BoC) is partnering with the NHSL by becoming a stakeholder in this worthy project by assisting i n creating a pleasant environment.

NTB concludes first-ever digital corporate rally

The Nations Corporate Rally – the annual event for the Nation Trust Bank’s (NTB) corporate clientele which was jointly organised with the Ceylon Motor Sports Club (CMSC), was a resounding success.It was the first-ever rally in Sri Lanka using a mobile app to communicate the route and various tasks the teams had to perform in order to make their way to the checkered flag at Jetwing Blue, Negombo.

NDB Investment Bank Facilitates Hemas Power Acquisition

NDB Investment Bank (Pvt.) Limited (NDBIB), the premier i nvestment bank in the country, was instrumental in the acquisition of Hemas Power PLC (HPWR) by a consortium comprising of NDB Capital Holdings PLC (NCAP), ACL Cables PLC (ACL) and Trydan Partners (Private) Limited (Trydan), in a deal worth approximately Rs.1.7 billion.

Oil Price Crash Could Be A Double-edged Sword

As of December 12, 2014, the All Share Price Index (ASPI) is still up 21 percent year-to-date despite losing around 4 percent from the all-time second highest peak of 7,548 index points reached on November18, 2014.

Siyapatha Finance announces Rs. 500 mn debenture issue

Siyapatha Finance, the finance and leasing arm of Sampath Bank PLC, has announced the issue of 5,000,000 listed, unsecured, redeemable and rated debentures at a par value of Rs.100 each, amounting to Rs.500 million.The debenture issue will open on December 18, 2014 and applications can be collected from NDBIB, registrar to the issue, Sampath bank branches and the member firms/trading members of the Colombo Stock Exchange.

Industry players demand separate ministry for tourism

A group of tourism and travel industry stakeholders yesterday called for a separate ministry for tourism instead of keeping it under the purview of Economic Development Ministry, when they met opposition leader Ranil Wickramasinghe.

The Finance gets Central Bank bail out

The troubled non-bank financial institution, The Finance Company PLC (TFC) has received liquidity support from the Central Bank, under the second phase of the company’s restructuring.

Sanjika Perera heads CIM Sri Lanka Region board

The Chartered Institute of Marketing Sri Lanka Region (CIMSLR) has appointed Sanjika Perera as the new Chairman for the institute at the recently concluded Annual General Meeting.Sanjika Perera FCIM, MBA (Sri.J), Chartered Marketer graduated with a Diploma in Marketing from The Chartered Institute of Marketing UK in 1994, and has been a member of the institute since then. He was awarded the Fellowship of the Institute in 2010.

HNB Gets Us $ 50mn Loan From Korea Exim Bank

Hatton National Bank PLC (HNB) has entered into an agreement with Korea’s Export-Import Bank (KEXIM) to establish a revolving credit line of US $50 million to finance trade between Sri Lanka and Korea, becoming the first bank in Sri Lanka to do so.The master interbank credit agreement was signed in Colombo by HNB Chairperson Dr.Ranee Jayamaha, and MD/CEO Jonathan Alles on behalf of HNB and KEXIM Senior Executive Director Young-whanSul on

Video: Azarya to launch new ‘Indulgence’ collection and online boutique

Hot off the success of Azarya’s first collection, vivacious beauty queen turned designer Sabrina Herft announced the launch of her latest collection, Indulgence, in tandem with the launch of an online boutique for her brand Azarya. The new collection available now at the Azarya Boutique, Arcade Independence Square, takes a fresh approach to Sabrina’s signature 1950’s-inspired floral prints, moving away from the bright co

Another First for Shift Solutions – the Launch of the First-Ever Hologram in Sri Lanka

Shift Solutions, Sri Lanka’s leading creative digital agency will soon launch the first-ever hologram in Sri Lanka – a life sized projection of President Mahinda Rajapaksa delivering a live speech. The hologram will be projected at the SLFP Youth Rally in Ratnapura on Monday to convey a Presidential message to the youth of the country. Shift Solutions is the first company in Sri Lanka to bring state-of-the-art hologram technology t

Nature’s Secrets Body Lotion promo secondround winners get ‘Honda Activa-I’ scooters

The secondround lucky winners of the Nature’s Secrets Body Lotion consumer promotion were recently declared at the Nature’s Secrets head office in Millewa, Horana. The four lucky Nature’s Secrets fans, selected by a raffle draw, will receive ‘Honda Activa – i’ scooters each worth Rs.200,000.The winners were chosen by Nature’s Secrets senior officials Director/General Manager Nalaka Gunawardena, Assista

Singer achieves Rs. 20.8 bn revenue in first nine months

Singer Sri Lanka, the country’s consumer durables giant, capped a strong third quarter by announcing group revenues of Rs. 20.8 billion in the year to date, a growth of 12 percent over the prior year.Revenue growth was driven primarily by significant gains in the retailer’s Communication and Digital Media segment, as well as improvements in the country’s business conditions.

CB Keeps Policy Rates Unchanged

Sri Lanka’s Central Bank yesterday left its key policy rates unchanged for the eleventh consecutive month in December on account of strong economic growth, pick up in credit growth and the benign inflation, but did not rule out the possibility of another round of easing towards the next year.As a result, the monetary board left the key policy rates—the Standing Deposit Facility Rate (SDFR) and Standing Lending Facility Rate (SLFR)

Samsung Opens First-Ever Customer Service Plaza in Colombo

Samsung Electronics, Sri Lanka’s leading electronics company, today announced the launch of its first-ever Customer Service Plaza at No. 515, Darley Road, Colombo 10. The new service centre is a revolutionary concept that aims to deliver the best in class after-sales service exclusively for Samsung customers.  The plaza’s opening ceremony was attended by H.K. Chang, Managing Director, Samsung Electronics India - Sri Lanka Bran

The Mount Lavinia Water Festival And Beach Carnival

The Old Boys’ Association (OBA) of S. Thomas’ College Mount Lavinia has taken the initiative to organize a yet another unique event in the renowned ‘Golden Mile’ of the Mount Lavinia Beach named ‘Mount Lavinia Water Festival & Beach Carnival’. This event, which is scheduled to be held on the 12th, 13th and 14th of December 2014 (3.00 pm to 1.00 am on each day), is promoted as a ‘destination event&r

Tropic of Linen to open boutique in Colombo

Home-grown clothing label, Tropic of Linen, is set to open a boutique in Colombo on December 13, 2014. Specialising in premium linen apparel for men and women, Tropic of Linen has been retailing at the Orchid House, at the historic Galle Fort heritage site, for over seven years. However the opening of the Colombo boutique, situated at No. 1 Wijerama Road, Colombo 7, marks the brand’s first exclusive store.