Amãna Takaful partners with IFN Roadshow in Sri Lanka

November 2014, Colombo: Amãna Takaful PLC, the only fully-fledged Takaful operator in the country and the flag bearer of the Takaful way of insurance in Sri Lanka, recently partnered with the world renowned REDmoney group to sponsor the Islamic Finance News (IFN) Roadshow. The event was held in Colombo and Ajith Nivard Cabraal, the Governor of the Central Bank of Sri Lanka graced the event as the Chief Guest and Dr.

Qatar Airways Introduces “Global Promotion Week”

Qatar Airways today launched a global week-long sales promotion, offeringcustomers in Sri Lanka great savings of up to 25% on airfares to destinations across Europe, Africa, Asia Pacific, the Middle East and the Americas.    

United Motors receives Productivity Award

United Motors Lanka PLC (UML) was recently awarded the top position in the service sector – large scale category by the National Productivity Secretariat, at the recently concluded National Productivity Awards ceremony.The award recognized the company for its outstanding productivity in service quality and efficiency. This is the first time the company has taken part in this programme.

Gree affirms commitment to maintain strong presence in Sri Lanka

Gree Lanka Private Limited, a fully-owned subsidiary of George Steuart Solutions, has become a formidable contender in the air-conditioning segment. A well-known Chinese brand, Gree is the preferred choice in air-conditioning solutions amongst construction professionals globally. In Sri Lanka, Gree Lanka (Pvt.) Limited caters to the needs of all residential, commercial and industrial properties.

Macbertan clinches Industrial Excellence only Platinum award

Macbertan (Pvt.) Ltd, the island’s pioneer in the manufacture of expanded polyethylene foam products, clinched the only Platinum accolade out of 500 applicants at Industrial Excellence Awards 2014 for its valuable contribution to the national economy.

Panasonic Launches Smartphone Business With Singhagiri

The global electronics major, Panasonic launched its mobile phone series in Sri Lanka by extending its innovative product portfolio and services to the users in the country. Panasonic introduced its Android-based smartphone series including its internationally acclaimed ‘Eluga’ series in the Sri Lankan market.The company launched its world renowned smartphone series Eluga, which is known for its design, superior build quality and u

Ten reasons to shop online in Sri Lanka

Shopping online makes life that bit easier and Kaymu (www.kaymu.lk), one of Sri Lanka’s leading online marketplaces, have come up with 10 reasons why shopping from your computer or mobile device is the best option.

Asus Announces Plans To Launch Flip Book In Sri Lanka

ASUS Computers, renowned for their affordable and userfriendly notebooks announced plans to launch the ASUS Flip Book – the brand’s most recent innovation to the local market later this year. The Flip Book, which can work as a powerful laptop, a responsive tablet or anything in between was unveiled earlier this year at Computex,Taiwan.

Sri Lanka to host Asia-Pac Business Forum in November

Sri Lanka is to host the 11th session of the Asia-Pacific Business Forum (APBF) organised by the United Nations Economic and Social Commission for Asia and the Pacific (US-ESCAP) with the main participation of Sri Lanka’s business promotion agency, the Board of Investment (BoI).The three-day event will be held from November 25 to 27, at the Bandaranaike Memorial International Conference Hall (BMICH) with the participation of at least 500

Hayleys MGT 2Q net profit improves 44%

The Hayleys group knitted fabric manufacturer, Hayleys MGT Knitting Mills PLC (MGT) posted a net profit of Rs.31.74 million (US $ 241,059) for the quarter ended September 30, 2014 (2Q15), up 44 percent from a year ago, according to the interim financial results.The earnings per share rose to 18 cents from 13 cents during the same period.

Electricity Tariff Cut Brings October Inflation Down To 1.6%

The recent downward revision of residential electricity tariffs have eased the headline inflation for October, as it has come further down to historically lows of 1.6 percent year-on-year (YoY) from 3.5 percent in September, according to the Department of Census and Statistics (DCS) data. The government announced a 25 percent electricity tariff reduction effective from September 16 and the full monthly impact of this is reflected in t he con

Srilankan Takes Delivery Of Airbus A330-300

As part of their fleet renewal program, the national carrier SriLankan Airlines yesterday took delivery of the new Airbus A330-300, under 12 years operating lease.This is the first of the series of seven Airbus A330-300s which SriLankan is planning to take delivery during t he next 14 months, and the second such aircraft will be added on t o its existing 23 fleet by the end of 2014.

Etisalat joins Mobitel mCash

Etisalat Lanka recently signed up with mCash, Mobitel’s mobile money platform, signifying the addition of the second m-Commerce platform to its portfolio of mobile transaction services this year.Using the mCash platform, Etisalat subscribers can seamlessly pay Etisalat bills and top-up airtime free of charge at any Mobitel mCash retailer outlet islandwide.

Samsung expands iconic Note series with Galaxy Note 4

Samsung Electronics Co., Ltd recently announced the expansion of its flagship Galaxy Note series with the launch of the new Samsung Galaxy Note 4 in Sri Lanka.Blending an enhanced S Pen with a superior viewing experience, the Galaxy Note 4 provides users with the most unique and powerful mobile experience in the market.

Esoft students obtain all BCS world prizes

Esoft Metro Campus created history this week by felicitating four students who walked away with four world prizes for their outstanding performances at the 2014 BCS Convocation held at the BMICH, recently.Sanjay Bandare for Certificate level world and Sri Lankan prize, Anumitha Thalgahagoda for PGD level world and Sri Lankan prize, Harshani Dissanayake for Diploma level world and Sri Lankan prize and Kaumadha Wickramarachchi for PROMS-G award

Sinhaputhra Offers Outdoor Capsule Sleepers

Sinhaputra Finance PLC has diversified into the budget tourism sector with the introduction of capsule sleepers made popular in Japan and wide usage in different parts of the world.This concept involves a sleeping capsule built into a concrete Hume pipe, complete with bedding, air-conditioning and a finished interior with easy access to common usage facilities.

Drought, A Menace To Tea And Rubber Profitability

Economists have reported that drought occurring frequently could have a pervasive impact on the economy of the country. The prospect of an improvement in the trade balance, and consequently a significant overall balance of payments surplus is always threatened by drought conditions. Agricultural production and hydropower generation can be affected adversely.

Japanese govt. provides fire fighting vehicles, equipment to BoI

Japanese Ambassador Nobuhito Hobo handed over five fire fighting vehicles and equipment to Investment Promotion Minister Lakshman Yapa Abeywardana for use by the Board of Investment of Sri Lanka (BoI), at the official handing over ceremony held at the Katunayake Export Processing Zone, on October 29, 2014.The Government of Japan provided US $ 83,735 (approximately Rs.10 million) in grant for the project for improving fire units in the export p

Chevron 3Q net profit up 23%

Chevron Lubricants Lanka PLC, a unit of US-based multinational said its net profit for the quarter ended September 30, 2014 (3Q14) rose 23 percent year-on-year (yoy) to Rs.750 million.The revenue for the quarter rose 11 percent yoy to Rs.3 billion while cost of sales increased at a lower pace of 3 percent yoy to Rs.1.8 billion, resulting in a gross profit of Rs.1.26 billion, up 23 percent.The distribution costs fell 8 percent yoy to Rs.120.2 m

CB Says Methodology Change Improved Lanka’s 2015 Ranking

The Central Bank yesterday said the methodology used for the computation for Doing Business rankings have significantly changed and Sri Lanka’s 2014 ranking has been revised downwards to 105 from 85.Therefore, the bank said, according to the 2015 Doing Business report, Sri Lanka’s position has improved to 99th place compared with the previous year’s ranking under the new methodology.

Amãna Bank tie up with Singer to offer Easy Payment Plan

Sri Lanka’s non-interest based banking pioneer Amãna Bank has tied up with consumer electronics giant Singer to facilitate convenient purchasing through its Easy Payment Plan. Through this financing scheme customers can purchases electronics, personal appliances, household appliances, furniture and many more from any Singer, Singer Mega, Singer Plus, Singer Home and Sisil World showrooms and dealers islandwide.

UN Day Celebrations at OSC

The annual United Nations Day (UN Day) celebration takes place at the Overseas School of Colombo (OSC) every year.  UN Day and Model United Nations (MUN) has been the brain child of OSC for over 30 years. The idea of this event is to promote internationalism amongst the OSC community. On this day the students of OSC attended school in their country’s national attire and perform a UN related activity representing

Hemas rewards Diva consumer promo winners

 This year, Diva consumer promotion titled ‘Idame Vasanawawa’ was carried out from May to August.

Unilever Sri Lanka Excels At Niosh Excellence Awards

Unilever Sri Lanka proved their strength as a company that is dedicated to Occupational Health and Safety by emerging as the Excellence Award winners at the recently held National Safety and Occupational Health Excellence Awards 2014 at the BMICH.

LG offers widest range of energy-saving home and electronic appliances

When you think of Home Appliances, if the brand LG does not come to your mind instantly, then you are obviouslyignorant of the advanced research and modern technological developments in LG’s innovative Home Appliances that have made them market leaders globally as well as in Sri Lanka.

Amãna Takaful expands to Anuradhapura

Amãna Takaful PLC, the only fully-fledged Takaful operator in the country and the flag bearer of the Takaful way of insurance in Sri Lanka, recently opened its 26th branch in Anuradhapura.

Sampath Bank’s newest ATM now in Biyagama

The newest automated teller machine (ATM) of Sampath Bank was ceremonially opened at Super K, No: 549/10, Walgama Road, Biyagama by Sampath Bank Chief Manager Systems and Procedures Rajendra Ranasinghe.This new ATM is the latest addition to its widespread ATM network islandwide. The people in Biyagama can now do their day-to-day banking with ease and comfort through this new ATM. General ATM features can be accessed at this location inc

Granting good credit is directly connected with economic growth targets Sri Lanka is expecting: SLIC

The Sri Lanka Institute of Credit Management (SLICM), the leading institute that offers credit management education in Sri Lanka, hosted its 18th annual convocation recently at the Centre for Banking Studies with Central Bank Governor Ajith Nivard Cabraal gracing the occasion as the chief guest.With that in context below are excerpts of an interview held with SLICM Vice President Lyle Peiris:

Union Bank Receives Cfi Best Sme Bank In Sri Lanka Award

Union Bank of Colombo PLC (UBC) was adjudged the ‘Best SME Bank in Sri Lanka 2014’ by Capital Finance International (CFI). UBC won the prestigious award in recognition of its leadership position in delivering development and growth of small and medium enterprises (SME) in Sri Lanka.

Higher raw material prices continue to trouble Haycarb

Higher raw material prices have continued to trouble Haycarb PLC, the coconut shellbased activated carbon maker of the Hayleys group, as the company reported a net profit of Rs.161 million for the quarter ended September 30, 2014 (2Q15), down from Rs.261 million reported for the same period of the previous year.The basic earnings per share for the quarter also deteriorated to Rs.4.39 from Rs.7.67.The revenue for the quarter under review stood