LOLC net up to 2bn in 4Q; records Rs.6.3bn for FY 12

Lanka Orix Leasing Company PLC (LOLC) posted a net profit of Rs.2 billion for the quarter ended March 31, 2012 largely assisted by the drop in payable income tax and the positive change in fair value of investment properties.

EPF, NSB, Govt. face barrage of criticism

Two opposition parliamentarians on Wednesday accused the government of misusing the hard earned savings of the people in the country by manipulating the share market through Employees’ Provident Fund (EPF) and the National Savings Bank (NSB).

We can’t let perpetrators escape with no punishment – Harsha

UNP National List parliamentarian Harsha De Silva said the struggle to bring perpetrators of the NSB-TFC fiasco would go on undeterred.

Galadari looks ahead with confidence despite heavy losses

Galadari Hotels (Lanka) PLC is confident that the proposed restructuring plan for the conversion of debt into equity will be fruitful, and pave the way for further investment and progressive change, its Chairman stated despite the hotel incurring a heavy net loss during FY12.

Does it matter to be a woman in Sri Lankan workforce?

A question we have all been tempted to ask at one time or another – how does it play out in the country’s economic scenario when it comes to gender equality? Certainly, in the boardrooms and plush offices of Sri Lanka’s burgeoning private sector, there is no glass ceiling for women in most aspects.

Bourse bounces back

After a 2.5 percent fall on Tuesday, the Colombo stocks bounced back quite strongly yesterday with the benchmark All Share Price Index (ASI) rising over 1 percent, amidst thin margins.

Aviva NDB Deploys Lifesavers to Safeguard Poson Pilgrims

31 May 2012 Colombo:  This Poson too, for the 19th consecutive year, AVIVA NDB has made the customary arrangements to keep watch over the pilgrims who bathe in the reservoirs in and around Anuradhapura, Polonnaruwa and Dambulla

Natural rubber production policies to meet the challengers

The rubber industry of the country, like all other natural rubber (NR) producing countries, is currently enjoying a bonanza in the form of record rubber prices. The key factor for such performance is the extent of the demand-supply gap. Both the demand and supply depend on large number of factors, many of which are easy to identify. Potential challengers

Bourse bleeds

The Colombo bourse continued to bleed as both indices dipped over two percent during yesterday’s trading, amidst talks of over-regulation by the regulator, margin pressure, interest rate hike and gloomy global scenario.

IBM marks 50-year presence in Sri Lanka, partners with HNB

As IBM marks its 50-year presence in Sri Lanka this year, the global technology giant announced its partnership with Hatton National Bank (HNB), a leading private sector bank in Sri Lanka.

Triad’s ‘Young Lions’ team for Cannes Advertising Festival 2012

Triad’s ‘Young Lions’ team for Cannes Advertising Festival 2012 The winners of Sri Lanka’s Young Lions – Print competition for the second consecutive year.

SL’S foreign debt shoots up to US$ 18.6bn

Sri Lanka’s external debt, inclusive of project loans and international bond issues, increased by 13% year-on-year (YOY) to US$ 18.6 billion in 2011, according to the Ministry of Finance and Planning’s Annual Report for 2011.

Market falls to 22 - month low

REUTERS: Sri Lanka’s stock market fell for a sixth straight session yesterday, once again hitting its lowest in almost 22 months, as investors’ wait for further clarification of a recently announced regulatory measure dragged into a new week.

AVIVA NDB sales mix points to growing sophistication of Sri Lankan customers

Colombo, 29 May 2012: The unaudited financial results of AVIVA NDB Insurance presented for the three months ending 31 March 2012 recorded consolidated revenue amounting to LKR 3 billion.

Two decades after Rio Summit

Rio + 20 is short name for the United Nations Conference on Sustainable Development (UNCSD) due to take place in Rio de Janeiro, Brazil -20 years after the landmark 1992 Earth Summit in Rio. This event will provide us with an opportunity to look ahead to the world we want for the next 20 years.

Resurging European debt woes and risks for Asia

Global equities have in the recent days fallen due to chain-fear spread over from the euro debt crisis. Investors have once more moved back into buying US dollar as a safe haven while the euro has tumbled to a four month low. Market attention is now focused on Greece forming a new government through coming mid June while the European Central Bank (ECB) have according to news papers stopped lending to some Greek banks.

Valuer’s role in property investment

Valuer is the master of property market and jack of all trades who deals with the pool of property investment. The task of a property valuer is to give advice on value in money term of an interest of landed property. Further he considers personal preferences of the investor such as Security of Capital, Security and regularity of income, Liquidity of Capital, Cost of Transfer (Stamp duty, Legal Charges) to choose the best investment among the alte

Godahewa bows to PB pressure, quits from three chairmanships

Disagreements between Treasury Secretary DR.P.B Jayasundara and Sri Lanka Tourism Development Authority (SLTDA) Chairman Dr. Nalaka Godahewa have led to the resignation of the latter from the chairmanship of three tourism institutions under the Ministry of Economic Development.

Go Green Lanka to recycle used yoghurt cups

Go Green Lanka Recyclers, whose main production facility is to be located i n Kalutara, has taken the initiative to collect, clean and recycle the yoghurt cups, drinking cups, plastic bowls and other plastic products made out of high impact polystyrene (HIPS).

Liberal trade key, says ex - WB Advisor

A focus on improving productivity in the framework of liberalized economic policy will be crucial to Sri Lanka’s ability to compete on a global scale, according to former economic advisor to the World Bank, Sarath Rajapatirana.

Bad to the bone: Battling with a bullying boss

Ruwini, an ex-employee of mine, recently sent me an email. “I have a bullying boss. No, not one of those bad ordinary bosses who fails to give direction and recognition. This is the type of bad boss who really bullies, insults, lies, changes direction, blames others and verbally assaults your self-esteem – every day.”

Advertising industry embraces young talent moulded at AOD

Graphic design is one of today’s most versatile careers making up the backbone of the global advertising industry. Sri Lanka’s blooming advertising industry is taking in young graphic designers who are equipped with international knowledge to cater to the new and global challenges faced by the industry.

‘Wake-up’, PB urges biz community

The local business community is sleeping and not aware of the extent of damage done to the country by heavy imports. They should wake up and assist local manufacturers, Treasury Secretary, Dr. P.B Jayasundara said.

Moshe Safdie designed 65-storied tower to be built near Beira Lake

An Indian real estate company is to develop Colombo’s tallest residential tower designed by world renowned architect Moshe Safdie, in the 10 acre land previous belonging to the Colombo Commercial Company near Beira Lake.

Does Sri Lankan tourism have a sustainable market mix?

Despite all the hype about our tourist figures sky rocketing, some big tour operators are not happy about current tourist arrivals. They have used words like ‘it was a challenging year…’

Is Zuckerberg the new Steve Jobs?

There’s no better time to make the comparison between Apple’s legendary founder, Steve Jobs and Facebook’s cherub-faced creator Mark Zuckerberg.

Improving investment climate and public spending key concerns

The World Bank (WB) has identified weak investment climate and lack of efficiency in public spending as constraints for Sri Lanka to achieve its growth ambitions, the global lender announcing its FY 2012-2016 Country Partnership Strategy (CPS) for the country said.

‘Appzone Champions 2012’ honours Application Developers

The ‘Appzone Champions 2012’ Award Ceremony saw mobile application developers honored for excellence in seven different categories.

Hutch introduces automated reload machines for subscribers

Hutchison Telecommunication Lanka (Pvt.) Ltd. became the first mobile operator in Sri Lanka to introduce an automated reload machine (ARM) similar to a self-service terminal used by the banking industry.

Booming investments in overseas NR plantations

The prevalence of high price of natural rubber, although very volatile, over the last few years, has stimulated many countries to show keen interest in investing in overseas rubber plantations, which is believed to be a safe move. But some pundits believe that the steady rise in NR which peaked in 2011 is in for a fall from 2012 onwards, mainly due to increased output expected to be contributed by new plantations across the NR producing countries