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HNB Assurance rewards top performers

Mar. 06, 2015 (LBT) -The Innovative insurance solutions provider, HNB Assurance recently held its Annual Awards ceremony for Bancassurance officers at Galadari Hotel Colombo to recognize the top contributors from the HNBA Bancassurance team in the year 2014. The main focus of this event was to pay tribute to the Bancassurance ... Read more

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AIA Sri Lanka delivers solid performance in 2014

Mar. 06, 2015 (LBT) - The Board of Directors of AIA Insurance Lanka PLC hass announced the financial results of the Company and its subsidiaries for the year ended 31 December 2014.The main highlights are:Execution of clear strategic priorities leading to sustained growth •    Gross Written Premium (GWP) grew by 7.1 ... Read more

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Seylan Bank profit after tax exceeds Rs. 3 billion

Mar. 06, 2015 (LBT) - Seylan Bank reported a record Profit after Tax figure of Rs. 3,079 million for the year ended December 31, 2014.  This is an impressive 33% growth in PAT compared to the Rs. 2,316 million reported in 2013, an impressive 33% growth in PAT. Net Interest ... Read more

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Janashakthi: Rs.8.9B Gross Written Premium

Mar. 06, 2015 (LBT) - Janashakthi Insurance PLC recorded profit before tax in excess of LKR 1 billion as of December 31, 2014, showing healthy growth amidst regulatory change in the insurance sector. As the company celebrated two decades of existence, Janashakthi posted a Gross Written Premium of LKR 8.9 ... Read more

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NTB resilient performance amidst challenges

Mar. 06, 2015 (LBT) - The Nations Trust Bank closed the year with a post-tax profit of Rs.2,536 million recording a growth of 19% over the corresponding year.  Core revenue recorded a faster rate of growth of 22% over operating expenses growth of 11%, thereby significantly improving operating margins. However, higher ... Read more

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Ewis to launch local low cost Hybrid Tablet

March 05, 2015 (LBT) -How do you make a nine inch tablet affordable to a Sri Lankan buyer?  The answer to this question is simple enough. It has to be designed and assembled locally and that is what EWIS has done in partnership with Microsoft.  Together the two companies have ... Read more

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National Chamber launches Ayurveda EXPO 2015

March 05, 2015 (LBT) - The National Chamber of Commerce officially launched Ayurveda EXPO 2015, International Indigenous Healthcare Exhibition on February 27, 2015 at Hilton Residences, under the patronage of Dr Rajitha Senarathne, Minister of Health & Indigenous Medicine as Chief Guest. The three-day Mega Exhibition is scheduled to be held  ... Read more

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D. Samson conventions facilitate dealers

March 05, 2015 (LBT) - DSI recently held two Dealer Conventions to felicitate its dealers in Matale, Kandy and Kurunegala out of its network of more than 3,800 dealers from around the country. The company believes in maintaining strong relationships with the dealers and in appreciating them for their commitment ... Read more

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Asian Inter'nal Academy launches All Asia Institute

Mar. 05, 2015 (LBT) - Asian International Academy (AIA), a new generation institute which focuses on innovation, equality and contemporary study programmes, announced the launch of a state-of-the-art online learning platform, All Asia Institute (www.allasiainstitute.com). Through the platform, currently AIA offers the Advance Professional Diploma in Credit Management programme by ... Read more

Business | Hits: 107 | Comments

‘Doing Business With Japan’ Seminar March 10

Mar. 04, 2015 (LBT) - SLASSCOM (Sri Lanka Association of Software and Service Companies) together with the Export Development Board (EDB), JETRO, Orion City and hSenid are organizing a seminar on ‘Doing business with Japan’ to address business prospects from a Japanese IT industry perspective.The seminar will be held at ... Read more

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Etisalat celebrates b'day with staff and customers

Mar. 04, 2015 (LBT) - Etisalat Lanka celebrated its birthday along with staff and customers at a simple yet elegant ceremony organized at the Etisalat Flagship Store at Colombo 3 recently. Joining in the celebrations were Chairman of the Board of Directors of Etisalat Lanka,Yousuf Al Sayed and Chairman of HR ... Read more

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Revitalizing construction industry with awareness

Mar. 04, 2015 (LBT) - The majority of home builders prefer to build their houses on their own – going as far as directly buying all raw material and designing and building with the help of hired labour, but lacking in technical expertise, it was revealed on Thursday, February 26 ... Read more

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CDB Launches Salary Plus Account

Mar. 04, 2015 (LBT) - Recognising the importance of proper income management and inculcating the habit of saving amongst the people, Citizens Development Business Finance PLC (CDB) launched its innovative Salary Plus Savings Account recently, expanding its portfolio of financial solutions. Alongside this, CDB has also created a special 'CDB Salary ... Read more

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ikman.lk sees strong growth in job ads posted

Mar. 04, 2015 (LBT) - Sri Lanka’s largest marketplace ikman.lk has seen a significant increase in the average job vacancy advertisements posted per day on the site within the last quarter of 2014. According the Web Analytics team of ikman.lk, on average 235 ads were posted per day in October ... Read more

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CSE to improve investment with social media channels

Mar 03, 2015 (LBT) - The Colombo Stock Exchange (CSE) today announced the launch of Facebook and LinkedIn Pages to ensure greater engagement with stakeholders through social media channels, in its endeavour to broad-base investment amongst the masses. The Facebook Page intends on reaching retail investors and students who are eager to ... Read more

Business | Hits: 94 | Comments

‘SKY FIESTA 2015’ a tremendous success!

March 03, 2015 (LBT) - The ‘Sky Fiesta 2015 held last week organized by Aviation Voice, was a tremendous success filled with prestige, glamour and glory, promising a bright future for the Aviation Industry in Sri Lanka. Aviation Voice is a voluntary group dedicated to prepare Sri Lanka’s next generation to ... Read more

Business | Hits: 160 | Comments

Bid bring back former glory to handloom industry

March 03, 2015 (LBT) - The on-going employee protests and disaffection at Lanka Salu Sala, the onetime Lankan handlooms giant described as Sri Lanka’s ODEL of yesteryear, concluded on February 19 when the Minister of Industry and Commerce Rishad Bathiudeen made a surprise visit to Salu Sala head office in ... Read more

Business | Hits: 130 | Comments

Browns knowledge-sharing programme for farmers

March 03, 2015 (LBT) - Brown & Company PLC’s Veterinary Pharmaceuticals division, along with Nevil Farm organized a knowledge-sharing programme for farmers in Kirindiwela. This is part of a series of educational programmes, which will be held monthly, and will aim to reach farmers across the country. With over 100 farmers ... Read more

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Pan Asia , fastest growing commercial bank in Lanka

March 02, 2015 (LBT) - Pan Asia Bank, which has been expanding the horizons of the local banking industry with its innovative banking products and impressive growth record, has been recognised as the ‘Fastest Growing Commercial Bank in Sri Lanka 2014’ by Global Banking & Finance Review. London based Global ... Read more

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Commercial Bank posts strong all-round growth

March 02, 2015 (LBT) - The Commercial Bank of Ceylon PLC has ended 2014 on a characteristically strong note, withstanding challenging conditions in Sri Lanka and Bangladesh to post profit before tax of Rs 15.736 billion for the year, an improvement of 8.45%. Retaining its position as the country’s largest private ... Read more

Business | Hits: 144 | Comments

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Container port overcapacity is bad!

Feb. 28, 2015 (LBT) - The purpose of this article is to examine the current container port supply and demand situation that prevails at the Port of Colombo and how it could impact on the industry and the country at large. When it comes to market economics, the level of supply and demand is a fundamental price determinant of any product or service. By and large, the quantity supplied should be around the quantity demanded at any given time in order to obtain the optimum price, provided all other factors remain equal. The container terminal industry is no exception to this simple theory. Colombo has a long history of container handling business running into over four decades . Last year, Colombo recorded a container throughput of 4.9 million TEUs with a 12.3% growth over 2013 . With this surge, Colombo jumped four slots up to the 29th  position in the global container ports league for 2014. Some facts about Colombo and its terminals are presented in the table. Except for the South Asia Gateway Terminal (SAGT), both the other facilities, namely, the Sri Lanka Ports Authority-controlled (SLPA) terminals and the Colombo International Container Terminal (CICT) are fluid in terms of capacity at present ... Read more

Opinions | Hits: 217 | Comments

Malaysian Minister of Infrastructure at CSE Market Opening Ceremony

Feb. 26, 2015 (LBT) - The Special Envoy (Ministerial Rank) to India and South Asia on Infrastructure, Prime Minister’s Department, Government of Malaysia Dato’ Seri Utama S. Samy Vellu rang the ceremonial opening bell at the start of trading today (26th). Deputy Minister of Policy Planning and Economic Affairs Dr. Harsha De Silva and Chairman of the Securities and Exchange Commission Thilak Karunaratne, made their first visits to the CSE following their appointments. The Bell Ringing Ceremony, to signify the Opening of Trading for the Day at 09.30 am takes place from the purpose built platform on the trading floor. The CSE, in keeping with the tradition followed by many Exchanges globally, opens trading with the formal bell ringing ceremony on the first day of trading of a new listing or during the visit of notable persons to the Exchange. Chairman of the Colombo Stock Exchange Vajira Kulatilaka and Members of the Board of Directors of the Colombo Stock Exchange, Acting Director General/ Officer-in-Charge of the SEC Dhammika Perera and Chief Executive Officers of Member Firms and Trading Members of the CSE were also present at the event. “We as a government, want to create a country where we have a large middle class that owns shares ... Read more

Opinions | Hits: 232 | Comments

Northern Power confident that independent probe by ITI will disapprove baseless allegations

Feb. 21, 2015 (LBT) - If wrong steps are taken pursuant to rumours and sentiment-driven agitation, the issue of ground water contamination in Jaffna would not improve but might in fact aggravate, MTD Walkers PLC – the parent company of the powerhouse of North Sri Lanka – Northern Power Co (Pvt) Ltd announced recently. “We are very confident that we have not caused any damage whatsoever to the environment in general and the regrettable water contamination issue prevailing in the North in particular. As a socially, environmentally and morally responsible corporate entity of Sri Lanka we have not caused any environmental damage in the past and we would not take any measure whatsoever that will cause even a minimal damage or harm to our planet,” stressed MTD Walkers PLC Director/ CEO Lal Perera, reaffirming the environmental policy of the Company. “However we feel sorry that with baseless allegations being raised against us, the real focus has shifted away from the root cause or origination of the oil contamination, which could cause severe impediments in mitigating of any future environmental fallout from the contamination. Our fear is that wrong steps taken pursuant to emotion-driven, baseless allegations could undermine efforts to mitigate the ... Read more

Opinions | Hits: 320 | Comments

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Indices close in Red

Mar. 04, 2015 (LBT) - The indices closed in red due to the price losses in counters such as Dialog Axiata, Sri Lanka Telecom and Carson Cumberbatch whilst the turnover crossed Rs 638 Mn. Blocks trades were witnessed in Nations Trust Bank, John Keells Holdings and Hemas Holdings. Mixed interest was observed in People's Leasing & Finance, Access Engineering and Asia Siyaka Commodities whilst retail interest was noted in First Capital Holdings, Lanka IOC and Regnis. Meanwhile, foreigners remained active closing as net buyers mainly due to foreign purchasing in John Keells Holdings whilst total foreign purchases accounted for 35.7% of the turnover. Banks, Finance and Insurance sector was the top contributor to the market turnover (due to Nations Trust ... Read more

Movement | Business Editor | Hits: 91 | Comments

John Keells accounts for 54.8% of turnover

March 03, 2015 (LBT) - The ASPI closed in red whilst S&P SL20 closed in green with turnover crossing Rs 1.8 Bn. High net worth and institutional investor participation was witnessed in John Keells Holdings whilst mixed interest was observed in Access Engineering, Sierra Cables and Dialog Axiata. Retail interest was noted in Regnis, John Keells Holdings Warrant 22 and Warrant 23. Meanwhile, foreigners remained active closing as net buyers mainly due to foreign purchases in John Keells Holdings. Total foreign purchases accounted for 47.8% of the turnover. Diversified sector was the top contributor to the market turnover (due to John Keells Holdings) whilst the sector index lost 0.19%. The share price of John Keells Holdings increased by Rs 0.50 (0.24%) closing at Rs 204.90 whilst ... Read more

Movement | Business Editor | Hits: 116 | Comments

Week commences in red

March 02, 2015 (LBT) -The price losses in counters such as Trans Asia Hotels, Ceylon Tobacco Company and Sri Lanka Telecom resulted in indices closing in red whilst the turnover crossed Rs 642 Mn. High net worth and institutional investor participation was witnessed in Distilleries and John Keells Holdings as parcel trades. Mixed interest was observed in Sierra Cables, Seylan Bank and Swisstek whilst retail interest was noted in Regnis, Millennium Housing Developers and John Keells Holdings Warrant 22. Meanwhile, foreigners remained active closing as net buyers mainly due to foreign purchasing in John Keells Holdings and Commercial Bank. Banks, Finance and Insurance sector was the top contributor to the market turnover (due to National Development Bank and Commercial Bank) whilst the sector index lost ... Read more

Movement | Business Editor | Hits: 120 | Comments

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