November Tourist Arrivals Up 9.4%

Tourist arrivals to Sri Lanka during the month of November rose 9.4 percent year-on-year (YoY) to 119,727 visitors while total arrivals for the first 11 months of the year stood at 1.34 million, up 20.3 percent YoY, the official tourism data showed. Sri Lanka targets 1.5 million tourists at the end of this year and 2.5 million by 2016. To achieve this year’s target Sri Lanka needs 151,519 tourists visiting the country in December. The hi

Burnetters Celebrate 15th Anniversary in Galle

The team members of Leo Burnett Solutions Inc (LBSI), the Sri Lankan office of the internationally acclaimed advertising agency network Leo Burnett Worldwide, recently travelled to Jetwing Lighthouse in Galle for their annual PlayShop. This highly anticipated annual event included a combination of activities and team building exercises which enabled team members to bond with each other.  Commemorating 15 years of success in Sri Lanka, the

Capital Alliance Ltd (CALT) Records Strong Performance and Growth in H1

Capital Alliance Ltd (CALT), the leading primary dealer in government securities recorded a profit after tax (PAT) of Rs. 555.87 million for the first half of the FY 2014/2015 ending 30 September 2014. Strong partnerships with clients, combined with an in-depth understanding of their needs, helped CALT to consistently add value to all client investments in H1 of 2014. CALT’s strong performance was also a result of the aggressive trading

GroupM Circuit Colombo 2014 to pave way for newest phase in media

Global digital expert and leading media innovator GroupM announced GroupM Circuit Colombo 2014, which will take place i n Colombo on December 4, featuring an impressive lineup of speakers and a comprehensive programme.

Cool Planet enters hill country

This year, Cool Planet marked the launch of its 6th store to further strengthen its growing portfolio in the country by expanding into Sri Lanka’s famous heritage city of Kandy. The multiple brands combined with the contemporary look and feel of the store will cater to various age groups of young and stylish audiences and will deliver customer engagement and satisfaction. Cool Planet Kandy, in all its elegance, is located in Peradiniya R

DHL, UNDP prepare airport staff for disaster relief logistics

Deutsche Post DHL, the world’s leading mail and logistics services group and the United Nations Development Programme (UNDP) in partnership with the Ministry of Disaster Management and Ministry of Civil Aviation has kicked off a disaster preparedness initiative ‘Get Airports Ready for Disaster’ (GARD) workshop in Colombo.

Brandix wins Gold for energy efficiency

A Brandix apparel factory manufacturing lingerie for international labels has been recognised as Sri Lanka’s best in energy conservation with the 2014 ‘Vidulka’ Gold award at the country’s apex awards for energy efficiency.

MTI develops Analytical Instruments’ strategic plan for next decade

Analytical Instruments ( AI) has acquired the expertise of MTI Consulting to develop its strategic plan for the next 10 years.The project kicked off on July 11 and is at the initial stages of the strategy development exercise. MTI’s Bahrain-based CEO Hilmy Cader will be taking onthe lead on this project given MTI’s impressive credentials in strategic planning, both in Sri Lanka and the region.Analytical Instruments, which was estab

South Asia to suffer most from climate change

On his recent visit to Sri Lanka, Vice President for Knowledge Management and Sustainable Development of the Asian Development Bank (ADB), Dr. Bindu N Lohani held a media roundtable briefing on the book ‘Assessing t he costs of climate change and adaptation in South Asia’.

Lack Of Liquidity Creation In Banking System Of Sri Lanka

Banks are a vital institution in modern economies that they perform two key functions. Banks manage the payment system of the economy and through intermediation they eliminate market inefficiencies and provide liquidity (funds) for the deficit units collecting funds from the excess units.

ACCA to hold seminar on tax computation and compliance

Taking into account the importance and benefit that organizations will derive by having an in depth knowledge and understanding of the requirements and essential facts of taxation rules and regulations, the Association of Chartered Certified Accountants (ACCA), has organized a seminar that aims to share some insights into basic direct and indirect computation and compliance requirements of a company.

Abans and SilverNeedle break ground for US$ 150 mn mixed-lifestyle centre

Local conglomerate Abans Pvt Ltd and Singapore-based SilverNeedle Hospitality began the construction of their US$ 150 million mixedlifestyle ‘Colombo City Centre’ yesterday, after Ministry of Defence and Urban Development Secretary Gotabaya Rajapaksa laid the foundation stone on the property off Sir James Pieris Mawatha, Colombo 02.

Hunter & Co. divests land for Rs.253 mn

Hunters & Company PLC, the parent company of Lanka Canneries Ltd., announced recently that it had sold a land and buildings in Bankshall Street to Supemova Holdings (Pvt.) Ltd for Rs.253.5 million.

Renuka Holdings’ Rs.1.03 bn rights issue oversubscribed

Renuka Holdings PLC’s rights issue raising Rs.1.03 billion closed on November 28th, after being oversubscribed, attracting applications over and above t he number offered under rights.

Cse Launches Rs. 150mn State of the art Cds

Colombo Stock Exchange (CSE) yesterday launched its Rs.150 million state-ofthe-art, new generation Central Depository System (CDS) supplied and maintained by Millenium IT, with an upgrade to the Automated Trading System (ATS).“With t he launch of t he new CDS and ATS, we have become world-class,” CSE Chairman Vajira Kulatilaka said.CSE launched its first CDS, funded by USAID, in 1991 and was the first in Asia and eighth in the worl

WOW.lk Showcases a Range of Products at the Family Fair 2014

Sri Lanka’s largest online shopping mall, WOW.lk recently  partnered with the Family Fair 2014,  as the official online sponsor of the event. The Family Fair 2014 is one of the biggest industry exhibitions in the country and was held at the BMICH this year.  WOW.lk hosted its own WOW zone at the event and WOW.lk’s partner merchants also showcased an array of products and special offers. 

ITCONNECT receives BOI status

TCONNECT, an Information Technology service provider in Asia Pacific with staff in offices across Sri Lanka and Australia, United States, China, India and Vietnam was recently awarded BOI status (Board of Investment Certification). ITCONNECT is a leading IT solutions and service provider in Australia coming under the BPOCONNECT group.The objective of ITCONNECT is to create a best-in-class delivery infrastructure to tap into the Sri Lankan tale

Cinnamon Hotels Unfold ‘Christmas In The City’ Initiative

Special Hospitality Desks are now open in all three properties as part of this firstever ‘Cinnamon Christmas in the City’ initiative with a seasonal brochure highlighting all events lined up for the holiday season, catering to both adults and kids alike.In keeping with the Cinnamon promise of lifestyle experiences, special areas have been allocated traditional yuletide specialities such as mince pies, rich cakes, macaroons, honey f

Arpico Insurance in Rs.79.5mn IPO

The Colombo Stock Exchange (CSE) has approved in principle an application by Arpico Insurance Limited to list the company’s shares issued by way of an Initial Public Offer (IPO) on CSE’s secondary Diri Savi board.  

HNB felicitates long-serving employees

Hatton National bank PLC recently felicitated the 18th batch of staff members who have completed 25 years of service.This year too a ceremony was held at the Bank’s Auditorium on a grand scale graced by the Managing Director/CEO, Jonathan Alles, Members of the Corporate Management, the proud recipients of the awards and their family members.

CMA conducts ‘Derivatives and Hedge Accounting’ workshop

A half day workshop on Derivatives and Hedge Accounting was organized by the Institute of Certified Management Accountants of Sri Lanka (CMA) recently at the Distance Learning Centre at SLIDA.

Etisalat Lanka Customer wins brand new Chery Tiggo SUV worth Rs. 4 million

Etisalat Lanka proudly rewarded M. Ishad from Kalapura, Nuwara Eliya, who was selected as the grand prize winner of the ‘Game of Tunes’ promotion with a brand new Chery Tiggo SUV worth Rs. 4 million at a grand ceremony held at their flagship store in Colombo 3 in the presence of popular artist of the Sinhala music scene Bhathiya & Santhush, Nalin Perera and Sangeeth Wijesuriya

Janashakthi wins Silver at SLITAD People’s Development Awards

Janashakthi Insurance PLC won the coveted Silver Award for the second year in a row at the recently held SLITAD People’s Development Awards.This affirmation of its commitment to the training and development of its employees is particularly significant this year as the organization prepares for the splitting of its Life and General Insurance into separate entities, as per industry regulation.

Dilshan Perera wins top award

Dilshan Perera, Head of Marketing at HNB Assurance PLC was awarded the Most Talented Marketing Leaders certificate during the 3rd World Marketing Congress in India in association with the CMO Council USA.

Elders to enjoy lesser prices for supplementary foods

Sri Lanka’s elderly population that is getting squeezed from all fronts is likely to have some ray of hope as the elders can now purchase their supplementary foods or nutritional supplements required to meet their daily nutritional needs at a lesser price than what they were paying before.To this end, Sri Lanka Customs has taken steps to halve the import duty of supplementary foods to 15 percent by creation of the new H.S. Code No. 2106.

Vietnam Calls For FTA

Stepping up its trade cooperation with Sri Lanka to new levels, Vietnam had said that it was vying for a groundbreaking free trade agreement (FTA) with Sri Lanka, a media statement by Sri Lanka’s Industry and Commerce Ministry said.

NVC Lighting ‘China’s No 1’ Launched in Sri Lanka

NVC lighting, China’s largest lighting manufacturer launched its innovative product line in Sri Lanka last week. NVC is exclusively distributed by Realty Management Services (Pvt) Ltd, (RMS) a wholly owned subsidiary of Overseas Realty (Ceylon) PLC, the largest listed Property Company and the owner, developer and manager of the World Trade Center, Colombo. NVC Lighting comprise of a broad product portfolio ranging from indoor, outdoor an

Executing right strategic swing at right moment ends up in grand success

Any business today faces change on all fronts – economic, regulatory, competitive, customer and access to resources. Consequently, every company is adjusting its strategy and that implies change. As a leader, the success of your strategy depends on your people – and whether they will be able to implement the strategy and achieve the goals.

Stock Market Volatility: Key To Maximum Returns

“Look at market fluctuations (volatility) as your friend rather than your enemy; profit from folly rather than participate in it.” -Warren BuffetVolatility is an inherent phenomenon in financial markets across the globe. The impact of volatility depends on the investor’s perception towards its (volatility) dynamics. An optimist would explore the limitless opportunities in a volatile market while a pessimist would tremble in

Fairway SkyGardens welcomes home owners

The newly constructed Fairways SkyGardens was ceremonially handed over to its valued clients yesterday.The 31-storey Fairways SkyGardens is located in scenic Rajagiriya, the fast growing urban residential area in Colombo. It is adjacent to the wetlands and in close proximity to all the conveniences the city offers and is an ideal haven to be away from the hustle and bustle of city life for tranquil living in a peaceful, natural environment.