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Porsche Macan in Lanka; Another unique entry

Aug. 22, 2014 (LBT) - Sri Lanka.Eurocars (Pvt) Ltd, the official Porsche importer in Sri Lanka, launched the new Porsche Macan at The Laksala Museum Gallery. The fifth model of Porsche product line, the all new Macan is the sports car of the compact SUV segment. A Porsche through and ... Read more

Business | Hits: 57 | Comments

‘Cat Connect’ Worksite Control Solution from UTE

Aug. 22, 2014 (LBT) - United Tractor and Equipment (UTE) unveiled two new products and a series of innovative solutions aimed at improving efficiency in the Construction Sector at Construct 2014, held recently at the BMICH. UTE was the Main Sponsor of the event for the 6th consecutive year. A ... Read more

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Com Bank-DIMO offer special leasing packages

Aug. 22, 2014 (LBT) - The Commercial Bank of Ceylon has once again partnered with Diesel and Motor Engineering PLC (DIMO) to offer attractive leasing options for TATA commercial vehicles in a sixth month promotion commencing August 2014. Under the agreement, DIMO will provide substantial discounts to Commercial Bank customers to ... Read more

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Singer revenue increases to Rs. 14b. in 1st Half

Aug. 22, 2014 (LBT) - Singer (Sri Lanka) notched a 14% increase in Group revenue in the second quarter of the 2014 financial year, compared to the same period of the previous financial year. This follows an 8% increase in revenue in the first quarter of 2014. Group revenue crossed ... Read more

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Jaeger-LeCoultre unveils unique classics in Colombo

Aug. 21, 2014 (LBT) - Swiss watchmaker Jaeger-LeCoultre, the inventors of the Vallée de Joux and reference in fine watching since the 19th century, along with Sri Lankan partner Chatham Luxury, hosted an exclusive viewing of its 2014 Collection yesterday at the Chatham Luxury Boutique at Galle Face Court. The ... Read more

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Closeup brings unique one-of-a-kind promotion

Aug 20, 2014 (LBT) - Closeup, the toothpaste you choose when you want to get up close and personal, has introduced a one of a kind consumer promotion, the first to give away an unbelievable shopping spree in partnership with one of Sri Lanka’s largest fashion retailers – NOLIMIT. Closeup ... Read more

Business | Hits: 85 | Comments

Climate change threatens coasts, agriculture: ADB

Aug. 20, 2014 (LBT) - Widespread degradation of Sri Lanka’s coastal and agricultural resources due to climate change could cost the economy more than 6% of its gross domestic product (GDP) by the end of this century, says a new Asian Development Bank (ADB) climate and economics report for South ... Read more

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Dunamis Capital: 135.6m. profit after tax in 1Q

Aug. 20, 2014 (LBT) - Dunamis Capital PLC has made a dynamic start to FY 2014-15, growing its first quarter bottom line more than five-fold over that of the first quarter of the previous year. The holding company of First Capital, Kelsey Homes and Premier Synthetic Leather has reported profit after ... Read more

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Sampath Bank: Impressive 67.5% profit growth

Aug. 20, 2014 (LBT) - Sampath Bank recorded an impressive profit after tax growth of 67.5% during the first half of 2014. The post –tax profit of the Bank during the 1H 2014 was Rs 2.68 billion, as compared to Rs 1.6 billion, achieved in the corresponding period in 2013. ... Read more

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DSI's Xquila, benchmark branded shoes for men

Aug. 20, 2014 (LBT) - Indulge yourself with a brand that has set the benchmark for men’s shoes offering unparallel quality and comfort at unprecedented prices. Xquila, the new trend setter that demonstrates style and class, will embark on a fashion expedition that is destined to raise the bar in the ... Read more

Business | Hits: 185 | Comments

ExcelSoft brings Foresight for the apparel industry

Aug. 19, 2014 (LBT) - ExcelSoft, Sri Lanka’s premier high performance enterprise solutions software company, recently announced the launch of Foresight - performance optimized graphical production planning and scheduling tool, designed specifically to maximize the usage of available, finite capacity and to improve on time delivery in high volume production ... Read more

Business | Hits: 173 | Comments

Janashakthi wins three more top regional awards

Aug. 19, 2014 (LBT) - Janashakthi Insurance garnered yet another clutch of awards for marketing excellence, picking up three trophies at the prestigious Global Awards for Brand Excellence and the   5th CMO Asia Awards held back to back at the Pan Pacific Hotel Singapore recently. The Global Awards for ... Read more

Business | Hits: 186 | Comments

Seminar on value addition through irradiation

Aug. 19, 2014 (LBT) - The Ceylon Chamber of Commerce in association with the Sri Lanka Gamma Centre will be organizing a presentation on Value Addition through Irradiation. The seminar will focus on explaining the role of the Sri Lanka Gamma Centre (SLGC), what is irradiation, Benefits of Irradiation for manufacturers/exporters, ... Read more

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zMessenger expands further with new innovation centre

Aug 18, 2014 (LBT) - zMessenger (Pvt) Ltd., the undisputed market leader in mobile marketing and digital services, announced the inauguration of its new state-of-the-art three-story innovation center in Colombo. The advanced facility is home to a team of highly talented experienced professionals committed to developing and enhancing products and ... Read more

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FACETS Sri Lanka to sparkle for 24th year

Aug 18, 2014 (LBT) - FACETS Sri Lanka 2014, the prestigious International Gem and Jewellery Show that showcases hundreds of local and foreign exhibitors, will be held from 4th - 7th September at the Sirimavo Bandaranaike Memorial Exhibition Centre. This year’s exhibition will comprise over 150 booths. Organized by the Sri ... Read more

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Uga Photography Challenge Exhibit ends on high note

Aug 18, 2014 (LBT) - A group of 16 talented amateur photographers arrived at Ulagalla Walawwa, Uga Escapes’ luxury hideaway in the middle of Sri Lanka’s famed Cultural Triangle recently. Their task: to capture the essence of the location and the surrounding countryside – people, scenery, wildlife and culture – ... Read more

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SriLankan Airlines bags ‘Best HR Strategy' Award

Aug. 18, 2014 (LBT) - SriLankan Airlines, the national carrier of Sri Lanka, was awarded the prestigious ‘Best HR Strategy in line with Business Strategy’ award at the fifth edition of Asia’s Best Employer Brand Awards, recently.  Held at Pan Pacific Hotel, Marina Square in Singapore, the award ceremony was ... Read more

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Frostaire marks 34 years of A/C, Ref excellence

Aug. 18, 2014 (LBT) - Frostaire, Sri Lanka’s leading provider of air conditioning and refrigeration solutions, celebrates 34 years of innovation and excellence in 2014.  Founded in 1980, the company has grown to become a premier supplier of air conditioning and refrigeration products and solutions for both corporate and domestic ... Read more

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Hameedia’s FH Collection at ASIAN Fashion Week

Aug. 18, 2014 (LBT) - Continuously setting the benchmark in the fashion industry, Hameedia Sri Lanka in partnership with Colombo Fashion Week, is taking part at the ASIAN Fashion Week (AFW). Hameedia has unveiled its stylish FH Collection at the four-day AFW show in progress in Surabaya City, Indonesia from ... Read more

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CBL bags two Golds at SLIM NASCO 2014 awards

Aug. 18, 2014 (LBT) - Ceylon Biscuits Limited (CBL) confirmed the conglomerate’s superior standing in the local market with five awards including two Golds at the recently concluded National Sales Congress 2014 Awards (NASCO), organised by the Sri Lanka Institute of Marketing (SLIM). The SLIM Sales Congress is held annually to ... Read more

Business | Hits: 225 | Comments

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Positive shift in manufacturing industry, says Ministry Secretary Anura Siriwardena

Aug. 11, 2014 (LBT) - During the recent past, the expenditure on imports of Sri Lanka has shown a declining trend. The intermediate goods are the category that is largely being imported to Sri Lanka, with a contribution of 59%, while investment goods and consumer goods follow with a share of 23% and 18% respectively. This reflects a positive shift in the manufacturing industry, contributing to a more stable development within the country, said Anura Siriwardena, Secretary, Ministry of Industry and Commerce on Tuesday, August 5. Delivering the keynote address at the 79th AGM of the Import Section, Ceylon Chamber of Commerce held at the Taj Samudra Hotel in Colombo, Siriwardena said that the country from which Sri Lanka sources the highest amount of imports is India, which contributes to 17.6% of our imports, while China is close behind, with a share of 16.4%. Singapore, UAE, Oman, Japan and Malaysia are the next largest sources of imports of Sri Lanka at present, he said. Pointing out that countries were vastly diverse when it came to the level of their resources, both natural and human, the Ministry Secretary Siriwardena noted that it determined the production capacity, as well as the range and ... Read more

Opinions | Hits: 446 | Comments

'Stock Market buoyant – CSE and SEC target local and foreign investors'

July 19, 2014 (LBT) - As the Sri Lankan economy takes an upward turn, with economic growth being at 7.5 per cent over the past four years, macroeconomic indicators signal an ideal environment for investment, with bank interest rates at an all-time low, the investment atmosphere is idyllic for prudent and well informed investors. “It is important to understand the long term nature of capital market investment and the cyclical flow that it follows. If one looks at the indices right now, one is able to see the positive growth trajectory of the market. The ASPI has crossed the 6600 point mark and the S&P SL20 was recently at the highest since its launch, indicating that the stock market is now on an upward turn based on valuations and fundamentals,” says CSE’s Head of Market Development Niroshan Wijesundere. Taking into account this ideal investment environment, the Colombo Stock Exchange (CSE) along with the Securities and Exchange Commission (SEC) and other stake holders, have taken strident steps to develop the capital market, with a new strategic direction adopted since 2012. Under the CSE’s three year strategic plan and the SEC’s ten point plan, the CSE has embarked on a steady phase of ... Read more

Opinions | Hits: 1016 | Comments

Agarwood Investment presents higher returns within just 8 years

July 05, 2014 (LBT) - Today in existence are several investments instruments that can be employed to secure future savings that can in turn provide prosperous returns. Utilizing various methodologies, the range of existing investment tools offered to prospective investors is innumerable. However, a main difference in the investment is the expected changes in the capital and the increase in profitability one can receive in terms of the original investment, for when savings are usually short- termed, the expectation for true realization of the interest potential is less. A mixed investment portfolio is beneficial and accrues many advantages to those who invest. The foremost advantage is when the investment is coupled with less uncertainty and through the investment, the highest returns received. Prospective investors looking at short term, medium term and longer term investments through the advice of their respective fund managers select the most appropriate basket of investment instruments and investment plans to suit their needs. Among the many investment schemes on offer today commercial forestry garners an investment of both medium and long-term returns. Moreover, investment through Agarwood provides 35% profitability, and is today especially praiseworthy as a medium term investment being promoted by Asian and Australian fund ... Read more

Opinions | Hits: 1326 | Comments


Indices recovered during the day to close in green

Aug. 12, 2014 (LBT) - The indices closed with gains due to price gains in Ceylon Tobacco Company, Ceylon Cold Stores and Ceylinco Leasing Company. High net worth and institutional interest in Nation Trust bank, John Keels Holdings, Lanka IOC, Diesel & Motor Engineering and Ceylon Cold Stores elevating the turnover to cross the Rs 1.2 Bn mark. Foreigners closed as net buyers due to buying in counters such as Nations Trust Bank, John Keells Holdings and Distilleries. Banks, Finance & Insurance sector was the top contributor to the market (due to Nations Trust Bank and Hatton National Bank) whilst the sector index decreased by 0.05%. The share price of Nations Trust Bank gained Rs 1.20 (1.47%) to close at Rs 82.60 while the ... Read more

Movement | Business Editor | Hits: 335 | Comments

Activity continues across the board

Aug. 11, 2014 (LBT) - Bourse closed in the positive territory with price gains witnessed in C T Holdings, Dialog and National Development Bank. Crossings were witnessed in Hayleys, Chevron Lubricants, Access Engineering and Diesel & Motor Engineering while further institutional and high net worth interest was witnessed in Lanka Milk Foods. Turnover crossed the Rs 1 Bn mark with activity seen across the board and retail activity evident in First Capital Holdings. Banks, Finance & Insurance sector was the top contributor to the market (due to Hatton National Bank) whilst the sector index increased by 0.15%. The share price of Hatton National Bank lost Rs 0.50 (0.29%) to close at Rs 170.00. Diversified sector became the second highest contributor to the market ... Read more

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Active market across the board

Aug. 08, 2014 (LBT) - Market remained active across the board with the turnover crossing the Rs 1.5 Mn mark. Institutional and high net worth interest was witnessed in Alumex, John Keells Holdings, Diesel & Motor Engineering and Seylan Developments. Meanwhile, retailers were active with interest seen in Central Investments & Finance, Browns Investments and PCH Holdings. ASPI and S&P SL20 gained 1.59% and 1.13% respectively for the week ended. Banks, Finance & Insurance sector was the top contributor to the market (due to Hatton National Bank) whilst the sector index increased by 0.46%. The share prices of Hatton National Bank gained Rs 1.10 (0.65%) to close at Rs 170.10. Diversified sector became the second highest contributor to the market turnover (due to John ... Read more

Movement | Business Editor | Hits: 385 | Comments

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Glitz Cric Quiz 2014 - A Resounding Success!

Aug 19, 2014 (LBT) - The Glitz Cric Quiz 2014, Sri Lanka’s Biggest and Most Exciting Cricket related quiz competition was successfully worked off recently amidst a large gathering of ... Read more

MOBIL partners CSN on "Mobil 1 The Grid" TV program for second consecutive year

Jul 18, 2014 (LBT) - McLarens Lubricants Limited, Sole Distributor for ExxonMobil in Sri Lanka, recently celebrated its partnership  with  Carlton Sports Network (CSN),  which  was  appointed as  the  sole ... Read more

BEKO sponsors Barcelona Football Club

SINGER markets BEKO appliances in Sri Lanka Jul 08, 2014 (LBT) - World famous Spanish football club FC Barcelona and BEKO recently announced the signing of a new agreement which will ... Read more



India gifts Rs. 1.2 billion Cultural Centre to Jaffna

June 10, 2014 (LBT) -A state-of-the-art, fully equipped cultural centre is to be built in Jaffna at a cost of Rs. 1.2 billion. It will reflect ancient cultural features and ... Read more

ADB calls for closer economic cooperation

April 22, 2014 (LBT) - Shifting relations among Asian countries and the changing global economy mean that Asia needs to strengthen its economic cooperation, says the Asian Development Bank’s (ADB) ... Read more

Renato Corona’s Impeachment for Non-Disclosure of his Assets and Liabilities

The historical Impeachment of Renato Corona in Philippines is one of the most significant events that took place in late May 2012 in the political world. Renato C. Corona was ... Read more


World News

Why India is struggling to attract tourists

Aug. 21, 2014 (LBT) - Being a tourist in India isn't always easy - the streets can be noisy and chaotic. But many come here looking for this colour and ... Read more

Russia watchdog shuts four McDonald's in Moscow Aug. 21, 2014 (LBT) - Russia's main consumer watchd

Aug. 21, 2014 (LBT) - Russia's main consumer watchdog has temporarily shut four McDonald's restaurants in Moscow as part of an investigation into food standards. Watchdog Rospotrebnadzor claimed the restaurants had ... Read more

Japan exports growth fuels recovery hopes

Aug. 21, 2014 (LBT) - Japanese exports showed a surprise rise in July, reigniting hopes of growth for the world's third largest economy. Exports rose 3.9% when compared to one year ... Read more