Asia Commerce plans to expand as fully fledged finance company

Leasing experts Asia Commerce Limited (ACL) recently signed a Memorandum of Understanding (MoU) with Scienter Technologies (Pvt) Ltd to acquire their new fully integrated software solution - Destinity eFinancials to expand the firm's operations and establish itself as a finance company.

Jetwing Sea, the ultimate sea resort opened for tourists

Jetwing Sea hotel, formerly known as Jetwing Seashells was ceremonially opened last Saturday by Economic Development Minister Basil Rajapaksa.

New board for lanka Singapore Biz council

A new board was elected for Sri Lanka Singapore Business Council during its 13th Annual General Meeting that was held recently at the Ceylon Chamber of Commerce. Shamil Mendis, Group Director of Delmege Forsyth & Co., Ltd was elected President of the Council for the year 2010/2011.

Sri Lanka should not be selective in bilateral trade

Sri Lanka needs to focus on getting into regional or bilateral trade agreements that are not exclusive to only a few countries if they are to reap the benefits of global economic trade, Manager of the Development Prospects Group Andrew Burns said yesterday during a video conference held at the World Bank headquarters in Colombo to launch Global Economic Prospects 2011 report.

Bourse witnessed a U-Turn. 13 Jan 2011

   The All Share Price Index gained marginally to close at 7,021.9 points (+0.1%), whilst the Milanka Price Index closed flat at 7,326.8 points (0.0%). The total turnover was LKR3,495.9 mn (USD31,514.5 k)  vs. 12-month average daily turnover of LKR2,476.9 mn (USD22,328.5 k) whilst the volume traded for the day was 350,710 k against the 12-month average daily volume of 84,450 k.

ASI Tops 7,000 Again...:12th Jan 2011

*    The All Share Price Index gained 21.7 points to close at 7,014.4 points (+0.3%), whilst the Milanka Price Index also gained 12.1 points to close at 7,326.8 points (+0.2%). *    The total turnover was LKR5,667.6 mn (USD51,082.5 k)  vs. 12-month average daily turnover of  LKR2,466.6 mn (USD22,231.6 k) whilst the volume traded for the day was 299,061 k against the 12-month average daily volume of 81,27

Ran FM unveiled an all-out campaign in support of the Sri Lankan Cricket Team

Ran FM formally launched "Ran FM Jaya Apatai", a nationwide campaign in support of the Sri Lankan Cricket Team at Temple Trees on Saturday, the 8th of January 2011. The unveiling ceremony started off with the Signature Campaign.  President Mahinda Rajapaksa was the first to affix his signature on a branded Ran FM cricket bat.

Laugfs surpasses profit forecasts

Laugfs group has posted Rs.750 million Profit After Tax (PAT) for the nine months ended December 31, a 96 percent increase from a year ago, surpassing profit forecasts for the period, group Chairman W.K.H Wegapitiya said in a statement yesterday.

Bourse crosses 7000 mark again

Colombo Stock Exchange’s main price index, All Share Index (ASI) again crossed 7000 points a while ago after breaking the elusive mark in September 28, 2010.

Stock Update . 11th Jan 2011

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Stock Market update. 10th Jan 2011

Normal 0 MicrosoftInternetExplorer4 The All Share Price Index gained 24.7 points to close at 6,916.6 points (+0.4%), whilst the Milanka Price Index dipped marginally to close at 7,281.8 points (-0.1%).

Lankan IT market to grow over US $ 600 mn in five years

Sri Lanka's IT market was estimated to be worth US$327mn in 2010, just 2% the size of India's, but is expected to grow to around US$632mn within BMI's five-year forecast period. The computer market has comfortably been growing at a double-digit CAGR for the past several years, yet the penetration rate remains below 1%. Computerisation has only just got started in the government service.

Tug O’ war at colombo South Harbour Terminal?

Uncertai nties are looming about the deadline for the completion of the first terminal of the Colombo South Port, with  Sri Lanka Ports Authority (SLPA) Chairman publicly saying that the completion of the terminal might get delayed by about 18 months.

Twelve month tourism theme programme kick starts with the island wide beach conservation day

Sri Lanka Tourism's Refreshingly Sri Lanka Visit 2011 campaign was launched with 12 themes for  the twelve  months of the year last Saturday.

Cardholders to enjoy holidaying Home and Away with HSBC

HSBC has introduced yet another exciting promotion that offers cardholders the convenience of purchasing daily essentials on their credit card and in-turn enjoy special home and away travel and holiday privileges, to further enhance their busy lifestyle.

ComBank assists Jaffna Hospital

The Commercial Bank of Ceylon recently carried out another major CSR Project in the Northern Province by assisting the Jaffna General (Teaching) Hospital, one of the most widely patronized medical facilities in the area.

Emirates sponsors popular authors to Galle Lit Fest

Two award-winning African writers and a popular Sri Lanka born novelist will be among the eminent authors participating in the 2011 Galle Literary Festival (GLF), thanks to Emirates, a fourth-time sponsor of this annual event.

Leema Creations wins Bronze award

Leema Creations won a Bronze award at the Entrepreneur of the Year 2010 competition organized by the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL).  Leema Creations, a company engaged in interior designing of houses, offices, hotels, restaurants, shopping complexes and exhibition stalls, secured this award for the excellence of their products and services.

Laugfs enters JV with Bharat Petrolium

Laugfs Gas Ltd. has entered into a joint venture agreement with Bharat Petrolium Corp. of India to introduce innovative metal cutting gas in Sri Lanka under the brand name Laugfs Bharat Metal Cutting gas (LBMCG), a stock exchange filing by the firm noted.

Strong Momentum Continues…..05th Jan 2011

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Mobile Financial Services (MFS): The unrealized potential

 Along with the increasing usage of mobile phone handsets globally, the handset is becoming an excellent primary digital channel for the banking and financial players in the markets - mostly being emerging markets. These include m-banking, money transfers, m-wallets, and remittances.

Pilot project to commence end of this month

Sri Lanka Tourism Development Authority Chairman Nalaka Godahewa said the Immigration Department has already completed the online visa scheme programme through the web and a pilot run off will be initiated to test the system.

Shangri-La lays down its grand plans for Sri Lanka

Hong Kong-based Shangri-La Asia Limited yesterday officially announced the purchase of six acres of Government land facing the Galle Face Green promenade, a prominent landmark in Colombo, Sri Lanka.

Bourse Opens 2011 on a Mixed Notion.. 03rd Jan 2011

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CSE ENDS 2010 IN THE GREEN.. 31st Dec 2010

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Bourse Turned Red..30th Dec 2010

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Dialog drives days trading….29th Dec 2010

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Business delegation to Jaffna Intl. Trade Fair 2011

The Jaffna International Trade Fair will take place for the 2nd consecutive year giving the opportunity for all industries to setup their business in a land that has not been accessible for more than three decades.

Less effort, more business-click for business with SAARC countries

The 10th SAARC Trade Fair was successfully concluded in Kathmandu from 15 to 19 December 2010, where a number of companies both from the large and SME sectors of SAARC countries participated to promote their products and services.

World Bank MD applauds ICTA- initiated projects

World Bank Group Managing Director Dr. Ngozi Okonjo-Iweala says that it is encouraging to note that projects initiated by the ICT Agency of Sri Lanka (ICTA) give a new lease of life to disaster-hit communities in Sri Lanka.