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Carmudi.lk partners with Central Finance on vehicle leasing discounts

Jul 04, 2015 (LBT) - Sri Lanka’s number one online car classifieds website Carmudi.lk joins Sri Lanka’s leading financial solutions service provider, Central Finance Company PLC enabling their customers to enjoy a discount of up to Rs. 25,000 when leasing a vehicle advertised on Carmudi.lk. A buyer who intends to ... Read more

Business | Hits: 55 | Comments

MTD Walkers PLC opens Richmond Hill Residencies in Galle

Jul 04, 2015 (LBT) - Wincon Development Ceylon (Private) Limited, a subsidiary of MTD Walkers PLC, together with the Ministry of Public Administration, Local Government and Democratic Governance launched it’s very first affordable housing project “Richmond Hill Residencies” in Galle today. The first of its kind project in the Southern ... Read more

Business | Hits: 44 | Comments

Seylan, first Sri Lankan bank to reach 200,000 fans on Facebook

Jul 04, 2015 (LBT) - Seylan Bank reached a social media landmark this week, reaching 200,000  fans on its Facebook page and that too with a far superior engagement score to its peers signifying the true engagement it has with its fans and customers. The first bank in Sri Lanka ... Read more

Business | Hits: 46 | Comments

GSK launches international webinars for doctors in Sri Lanka

Jul 04, 2015 (LBT) - A new initiative using web seminars or ‘webinars’ to disseminate information to medical professionals on the latest developments in the treatment, management or prevention of diseases has been launched in Sri Lanka by GlaxoSmithKline (GSK) Pharmaceuticals.Intended to enable doctors to participate, from the comfort of ... Read more

Business | Hits: 43 | Comments

Amãna Takaful keeps its promise for the third consecutive year

Jul 04, 2015 (LBT) - Staying true to the spirit of Takaful, ATL (Amana Takaful PLC) announced a payment of Surplus to its General Insurance Policy holders for the third consecutive year. Following Surplus Payments of 12.5% and 15% in 2012 and 2013 respectively, the board decided to award a ... Read more

Business | Hits: 45 | Comments

Lamudi Sri Lanka views possibilities of ‘Building International’ in Colombo

Jul 04, 2015 (LBT) - Sri Lanka is growing towards a real estate investment friendly environment. The skyline of Colombo has changed drastically over the last few years with a number of iconic towers coming into the city and its suburbs. At a transformational era such as this, Sri Lanka ... Read more

Business | Hits: 43 | Comments

D. Samson and Sons (Pvt) Ltd begins online shoe shopping site

Jul 04, 2015 (LBT) - To further their market presence locally as well as globally through virtual avenues of the booming e-commerce network in Sri Lanka, D. Samson and Sons (Pvt) Ltd have initiated the online shoe shopping site www.footcandy.lk for the Sri Lankan public. A much-loved and household name, ... Read more

Business | Hits: 43 | Comments

First Guangzhou-Lanka trade and business pact inked in Colombo

Jul 03, 2015 (LBT) -The first ever trade and business pact between Sri Lanka and the capital city of mainland China’s largest GDP maker Guandong was inked in Colombo today, July 3. “Today’s MoU signals a new opening for Lanka – China bilateral relations at business to business levels. Just as ... Read more

Business | Hits: 75 | Comments

International Indigenous Healthcare Exhibition 2015 opens today at BMICH

Jul 03, 2015 (LBT) - The 3-day International Indigenous Healthcare Exhibition, conducted for the 5th time, begins today July 3 at the BMICH from 9a.m to 9p.m. Entrance is free. The exhibition is organised by the National Chamber of Commerce of Sri Lanka in association with the Ministry of Health & ... Read more

Business | Hits: 132 | Comments

Economic Summit to discuss ‘Driving Exports via Social Media and Tech’

Jul 03, 2015 (LBT) - Sri Lanka Economic Summit 2015, the country’s biggest economic forum held annually, will discuss the topic of ‘Driving Exports – Use of Social Media and Technology’ at one of its key sessions. The keynote speech of the session will be delivered by Muhuthan Canagey, CEO of ... Read more

Business | Hits: 122 | Comments

Lanka records $2 million initial income at Kunming Fair in China

Jul 03, 2015 (LBT) - Sri Lankan biz, facilitated by EDB, recorded strong results at the recent Kunming international fair in China notching an initial income surpassing $2 million and some eager Lankan firms are still continuing in the mainland having been asked by keen Chinese firms to stay back ... Read more

Business | Hits: 117 | Comments

Commercial Bank launches new paperless Green Banking facility

Jul 03, 2015 (LBT) - The Commercial Bank of Ceylon has commissioned the first of a new generation of automated cash deposit terminals that completely eliminate the use of paper, in another example of the Bank’s continuing investment in Green technology and sustainable development. Dispensing with deposit slips and envelopes, the ... Read more

Business | Hits: 87 | Comments

Hutch powers "GetnAiled" Gaming challenge for the second consecutive year

Registrations now open for "GetnAiled" second edition through Hutch Facebook page Jul 02, 2015 (LBT) - In an effort to enhance the local competitive gaming standard to the international, HUTCH, has come forth as the title sponsor of "GetnAiled"  Gaming Challenge 2015. In its second year, “Get nAiled” will be held ... Read more

Business | Hits: 155 | Comments

Collective decision to back Declaration to nominate clean candidates

Jul 02, 2015 (LBT) - Sri Lanka’s Joint Business Chambers, the Organisation of Professional Associations of Sri Lanka (OPA) and the Executive Committee of the Bar Association of Sri Lanka (BASL) has announced the endorsement of the ‘March 12th Declaration’, an initiative of PAFFREL and the ‘Citizens’ Collective’, which identifies ... Read more

Business | Hits: 190 | Comments

Asian International School goes paperless with Sircle in Sri Lanka

Jul 02, 2015 (LBT) - In an age where more than half of all children under the age of eighteen live in households with two working parents, keeping up with a child’s school life has become a common dilemma among parents. It is also the age where numerous global initiatives ... Read more

Business | Hits: 196 | Comments

Roshan Mendis: Senior Vice President of Sabre Travel Network, Asia Pacific

Jul 02, 2015 (LBT) - Sabre Corporation (NASDAQ: SABR) announced on Wednesday, July 1 that it has appointed Roshan Mendis as senior vice president for Sabre Travel Network, Asia Pacific, following the completion of its acquisition of Abacus International today. In his new role, Mendis will be responsible for the overall ... Read more

Business | Hits: 250 | Comments

D. Samson and Sons Pvt Ltd celebrates International Flip Flop Day

Jul 02, 2015 (LBT) - D. Samson & Sons (Pvt) Ltd, the main marketing and distributing arm of the DSI Samson Group, celebrated the International Flip Flop Day, which fell on June 19, by getting their members of the staff to wear DSI flip flop footwear to work on the ... Read more

Business | Hits: 117 | Comments

DIMO hosts top dealers at DIMO-MRF Tyre Channel Partner Convention 2015

Jul 02, 2015 (LBT) - Diesel & Motor Engineering PLC (DIMO), the sole distributor for MRF Truck and Bus Tyres in Sri Lanka, hosted the top 50 dealers and their families at the Jetwing Beach and Jetwing Blue hotels recently for the Annual DIMO-MRF Tyre Channel Partner Convention 2015. The ... Read more

Business | Hits: 174 | Comments

Fairway Aviation Academy launched at Ratmalana

Jul 01, 2015 (LBT) - Fairway Holdings, as part of its diversification strategy, launched the Fairway Aviation Academy on Monday, June 29 with a committed School of Ground Training with the purpose of delivering a comprehensive portfolio of aviation training courses of internationally recognized standards enabling aviation enthusiasts to make ... Read more

Business | Hits: 213 | Comments

AIA CFO Indika, youngest winner of People Leaders’ Awards in Finance

Jul 01, 2015 (LBT) - AIA’s CFO Indika Prematunga won this year’s Finance Leader Award at the IPM Sri Lanka People Leaders’ Awards, making him the youngest winner ever of this award. Indika’s story is one with successes etched onto it right from the start. A product of one of ... Read more

Business | Hits: 173 | Comments

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දෛවයෝගය...

Jun 27, 2015 (LBT) - මහින්දට වෙනම සන්ධානයකින් තරඟ කොට පාර්ලිමේන්තු මැතිවරණය දිනිය හැකිද ? මේ අද බොහෝ දෙනෙකු අසන ප්‍රශ්නයකි. බොහෝ දෙනෙකුට එය තවමත් ගැටලුවක් වී ඇත්තේ ජනාධිපතිවරණයක හා පාර්ලිමේන්තු මැතිවරණයක වෙනස හරි හැටි වටහාගෙන නැතිකමිනි. වර්තමාන පාර්ලිමේන්තුවේ ආසන 225ක් ඇත. ඒ නිසා රජයක් පිහිටවීමට නම් තනි පක්ෂයකට හෝ සන්ධානයකට අවම වශයෙන් ආසන 113ක් අවශ්‍ය වේ. ජනාධිපතිවරණයකදී මෙන් පාර්ලිමේන්තු මැතිවරණයකදී ජයග්‍රහණය සඳහා 50% වැඩි ඡන්ද  ප්‍රතිශතයක් අවශ්‍ය නැත. අවශ්‍ය වන්නේ 50% වඩා ආසන දිනා ගැනීමයි. පළමුවෙන්ම මෙය වටහා ගැනීමට පළමුවෙන්ම අපි සමානුපාතික ක්‍රමය යටතේ පැවති මැතිවරණවල ඉතිහාසය දෙස හැරී බලමු. 1989 වසරේ ආර්. ප්‍රේමදාසගේ නායකත්වය යටතේ එක්සත් ජාතික පක්ෂය හා ලංකා කම්කරු කොංග්‍රසය එක්ව ලබා ගත් ඡන්ද ප්‍රතිශතය 50.71% කි. දිස්ත්‍රික් මට්ටමෙන් ආසන 110 ක් හා ජාතික ලැයිස්තුවෙන් 15 සමග මුළු ආසන 125 කි. ඔවුන් විසින් පහසුවෙන්ම රජයක් පිහිටවන ලදී. 1994 වසරේ බලයට පැමිණි චන්ද්‍රිකා බන්ඩාරණායක කුමාරණතුංගගේ පොදු පෙරමුණ ලබා ගත් ඡන්ද ප්‍රතිශතය 49.8% කි. දිස්ත්‍රික් මට්ටමෙන් ආසන 91 ක් හා ජාතික ලැයිස්තුවෙන් 14 සමග මුළු ආසන 105 කි. ඔවුන් සුළු පක්ෂ කිහිපයක් සමග එක්වී රජයක් පිහිටවන ලදී. 2000 වසරේ ඡන්දයේදී චන්ද්‍රිකා බන්ඩාරණයක කුමාරණතුගගේ පොදු පෙරමුණ ලබා ගත් ඡන්ද ප්‍රතිශතය 49.8% කි. දිස්ත්‍රික් මට්ටමෙන් ආසන 91 ක් හා ජාතික ලැයිස්තුවෙන් 14 සමග මුළු ආසන 105 කි. නැවතත් සුළු පක්ෂ කිහිපයක් ... Read more

Expert Advice | Hits: 460 | Comments

A LITTLE KNOWLEDGE IS A DANGEROUS THING

By Dr. Nalaka Godahewa Jun 26, 2015 (LBT) - When Ajith Nivard Cabraal, the governor of the Central Bank of Sri Lanka during the 2005-2014 period, was interviewed by Derana TV a few days ago, I felt disappointed. I was not impressed with the depth of the questions asked. Here was a man who was at the forefront of managing the economy for 9 years under President Mahinda Rajapaksa. What an opportunity it would have been to grill the man on real economic issues. There were questions, which are of national interest that could have ben discussed with him. I was also keen to hear Nivard’s views on the recent ‘bond fiasco’, at central bank which hit national headlines. What better person than a former governor to explain the internal procedures of central bank in handling such a bond issue. We could have asked him, whether there are any grounds to suspect foul play in this particular case. Instead of focusing on these critical questions, which would have been of benefit to the public, the interviewer took a different approach. He tried to humiliate the former governor and focused his questions mostly on gossip and various politically motivated accusations against him. ... Read more

Expert Advice | Hits: 434 | Comments

Doing Business in Sri Lanka and Tightening the Grip

Jun 26, 2015 (LBT) - The ‘Doing Business Index 2015’ has been published for the 12th year in 2014. The latest report on 2016 will be released soon by the World Bank. The index mainly investigates the enhancing and restricting aspects of business in a country.  189 economies were  subjected to evaluation under 10 criteria which affect the life of businesses namely:  Starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency and employing workers. In addition to the above the report pays attention to the distance to frontiers. The distance to frontier score captures the gap between an economy’s performance and measure the distance to best performing economy. If categorized in a broad manner it would reflect as given below: As start up - starting a business and employing workers In getting a location - dealing with construction permits, getting electricity, registering property, In getting finances: getting credit, protecting investors, Daily operations: paying taxes, trading across borders When things go wrong: enforcing contracts and resolving insolvency. It is important to note that Governments have a vital responsibility in providing a vibrant & sustainable environment for private sector businesses to grow. Without ... Read more

Opinions | Hits: 488 | Comments

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July begins in Red

Jul 02, 2015 (LBT) - The price losses in counters such as DFCC Bank, Ceylon Tobacco Company and Sri Lanka Telecom resulted in indices closing in red below 7000 mark whilst turnover crossed Rs 435 Mn. High net worth and institutional investor participation was witnessed in Hemas Holdings and Standard Capital. Mixed interest was observed in Access Engineering and Textured Jersey Lanka whilst retail interest was noted in Sanasa Development Bank and Softlogic Holdings. Meanwhile, foreigners remained active closing as net sellers mainly due to foreign selling in People's Leasing & Finance. Banks, Finance and Insurance sector was the top contributor to the market turnover (due to People's Leasing & Finance and Hatton National Bank) whilst the sector index lost 0.76%. The ... Read more

Movement | Business Editor | Hits: 166 | Comments

ASPI lost 2.76% for the month

Jun 30, 2015 (LBT) - Both ASPI and S&P SL20 recorded losses for the month and closed in red due to price losses in counters such as Commercial Leasing & Finance, CT Holdings and Textured Jersey Lanka during the day. The turnover crossed Rs 651 Mn whilst high net worth and institutional investor participation was witnessed in Hatton National Bank and Commercial Bank. Mixed interest was observed in Access Engineering, CIC Holdings whilst retail interest was noted in Laxapana Batteries, Textured Jersey Lanka and LB Finance. Meanwhile, foreigners closed as net sellers mainly due to foreign selling in Commercial Bank. Banks, Finance and Insurance sector was the top contributor to the market turnover (due to Commercial Bank and Hatton National Bank) whilst the sector ... Read more

Movement | Business Editor | Hits: 194 | Comments

Week commences with gains

Jun 29, 2015 (LBT) - The price gains in counters such as Dialog Axiata, Sri Lanka Telecom and Access Engineering resulted in indices closing in green whilst turnover crossed Rs 394 Mn. High net worth and institutional investor participation was witnessed in Laugfs Gas, Laugfs Gas nonvoting, Cargills and Aitken Spence. Mixed interest was observed in Commercial Bank whilst retail interest was noted in Access Engineering, ACL Cables and Anilana Hotels & Properties. Meanwhile, foreigners closed as net buyers mainly due to foreign purchasing in Laugfs Gas and Commercial Credit & Finance. Power and Energy sector was the top contributor to the market turnover (due to Laugfs Gas and Laugfs Gas nonvoting) whilst the sector index gained 0.47%. The share price of Laugfs ... Read more

Movement | Business Editor | Hits: 123 | Comments


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