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Alpesh Shah on ‘Colombo as a Financial Hub’

July 22, 2014 (LBT) - Alpesh Shah, a senior partner and Managing Director of the Indian Unit of the Boston Consulting Group will share his views under the title, ‘Colombo as a Financial Hub’, at the upcoming Sri Lanka Economic Summit. Alpesh, who leads the Insurance practice for BCG across the ... Read more

Business | Hits: 56 | Comments

SUBWAY ready to enter Sri Lankan market

July 22, 2014 (LBT) - The SUBWAY restaurant chain, the largest submarine sandwich chain with a presence of over 42,000 restaurants in 107 countries, is poised to launch its debut restaurant in Sri Lanka at R. A. De Mel Mawatha, Colombo. The leading Quick Service Restaurant (QSR) brand, once it enters, ... Read more

Business | Hits: 75 | Comments

Rs. 26m Janashakthi cover to Sirasa Superstars

July 21, 2014 (LBT) - Janashakthi Insurance recently provided Rs. 10 million personal accidental death cover to the winner of popular TV reality show Sirasa Superstar, Gayan Arosha, in their capacity as the official insurance partner for Season 6.  First runner up Chamara Prasad also received coverage worth Rs. 5 ... Read more

Business | Hits: 74 | Comments

Portugal Prime Minister visits Colombo Port

July 21, 2014 (LBT) - The Prime Minister of Portugal Pedro Passos Coelho, on an official tour of the island on the invitation of Sri Lanka, visited the Colombo Port yesterday, July 20. He was welcomed by Dr Priyath Bandu Wickrama, Chairman of the Sri Lanka Ports Authority. The Prime ... Read more

Business | Hits: 130 | Comments

ANC Awards celebrates academic excellence

July 21, 2014 (LBT) - ANC Awards Night 2014, a night that recognizes the hard work and dedication of the students who have strived to achieve excellence in education at the ANC Education, was held on July 18 at the Hilton Colombo amidst a distinguished gathering. The occasion was graced ... Read more

Business | Hits: 130 | Comments

Advisor Forum of Life Insurance Advisors meets

July 21, 2014 (LBT) - The 5th annual congress of the National Advisor Forum of Life Insurance Advisors  (NAFLIA) was held on July 8 at the Eagles’ Lakeside in Attidiya. NAFLIA is the Marketing arm of Insurance Association of Sri Lanka. The objective of the NAFLIA Congress is to develop ... Read more

Business | Hits: 159 | Comments

100 bridges ready to narrow village, town gap

July 20, 2014 (LBT) - The first phase of building 210 bridges under a programme to construct 1,210 rural bridges island-wide is progressing steadily, while work on 100 such bridges has been fully completed. These bridges will reduce the gap between towns and villages thus opening the doors for rapid rural ... Read more

Business | Hits: 173 | Comments

Car Care incentives with American Express

July 20, 2014 (LBT) - Nations Trust Bank American Express has introduced an exclusive car care plan for its Cardmembers offering an interest free instalment payment plan at partner merchants including DIMO, AMW, KleenPark and Autodrome, in addition to a 24 hour assistance hotline for any vehicle related inquiry. American ... Read more

Business | Hits: 229 | Comments

Lanka Electricity Company joins Singer Express Pay

July 20, 2014 (LBT) - Singer (Sri Lanka) PLC has added yet another outstanding convenience to its value added customer services by forming a new partnership with the Lanka Electricity Company (Pvt) Ltd. (LECO) in conjunction with Singer Express Pay, the bill payment facility provided by Singer. The advantage of ... Read more

Business | Hits: 187 | Comments

Colombo Agile Conference 2014: A resounding success

July 20, 2014 (LBT) - The Colombo Agile Conference 2014 was held for the second consecutive year with over 400 IT professionals. With a stellar line-up of some of the world’s most renowned Agile experts coupled with local professionals in Agile methodology, the symposium proved to be incredibly useful to the ... Read more

Business | Hits: 154 | Comments

Fifty bikes in 45 days from Scan Jumbo Peanuts

July 19, 2014 (LBT) - Scan Jumbo Peanuts, the category leader and pioneer brand of packeted peanut industry, offers 50 mountain bikes within a period of 45 days to its loyal consumers. Starting on July 7, the promotion will go on till August 20, 2014. “This is a very special consumer ... Read more

Business | Hits: 186 | Comments

HNB powered up to deliver unmatched value

July 19, 2014 (LBT) - HNB PLC embarked on a transformational journey recently making significant investments into technology to ensure a best in class platform for delivery of products and services. Deriving the optimal results of a truly enabling IT infrastructure, the Bank is now well on course to create ... Read more

Business | Hits: 221 | Comments

Dwellco marks 25 years in construction industry

July 19, 2014 (LBT) - The reputed construction company Dwellco (Pvt) Ltd., recently celebrated 25 years of building personalized luxury homes. Dwellco’s success is largely due to its emphasis on achieving the highest standards. This is in line with its motto, ‘Construction is not just our business. It’s our passion.’ The company’s ... Read more

Business | Hits: 201 | Comments

‘Sovrano 39’ redefining condominium lifestyle

July 19, 2014 (LBT) - ‘Sovrano 39’, the newest venture of Blue Mountain Properties (Pvt) Limited, is a dazzling, new condominium apartment complex offering luxury that is finally affordable. This modern apartment complex, located in the strategic suburb of Nugegoda, comprises 39 elegantly designed condominium-style apartments, ranging from two bedrooms ... Read more

Business | Hits: 156 | Comments

ADB maintains developing Asia growth forecast

July 19, 2014 (LBT) - Developing Asia remains on track toward steady growth in 2014 despite slower-than-expected growth in the United States (US) in the first quarter, says a new Asian Development Bank (ADB) report. The Asian Development Outlook (ADO) Supplement, released in Manila, Philippines yesterday, July 18, maintains ADB’s ... Read more

Economic | Hits: 236 | Comments

Korean govt supports E-Governance of Sri Lanka

July 18, 2014 (LBT) -Sri Lankans’ life style has dramatically changed due to new e-government system. People no more need to wait for their birth or marriage certificates for several months. Issuance of those certificates takes now only 3 minutes as government servants do not have to waste time finding ... Read more

Economic | Hits: 324 | Comments

Disrupt Unlimited in MoU with Inventors Commission

July 18, 2014 (LBT) - Disrupt Unlimited, the Apparel Start-up Seed Accelerator funded by Brandix, and the Sri Lanka Inventors Commission (SLIC) have entered into an agreement to establish a partnership to promote innovation in Sri Lanka and enhance opportunities in the fields of Textile, Apparel and Accessories. A Memorandum of ... Read more

Business | Hits: 285 | Comments

World’s best brands from Abans at Arcade

July 18, 2014 (LBT) - The majestic Arcade Independence Square was formally opened last Sunday, July 13 and Abans has been allocated three shops in prominent locations at the venue to display their world’s best brands of products The Arcade is the most recent of a series of amazing restorations of ... Read more

Business | Hits: 224 | Comments

EZY Racing puts Sri Lanka in world map

July 18, 2014 (LBT) - In a major move aimed towards creating history in motor sports in Sri Lanka, five years after having set up Sri Lanka’s first ever professional Motor Racing company, EZY Motor Racing Corporation, the brand owners of the country’s most followed motor racing team EZY Racing, ... Read more

Business | Hits: 230 | Comments

Lankem 'Varna Pooja' paints Dalada Maligawa

July 18, 2014 (LBT) - Lankem Paints Ltd, manufacturers and marketers of Robbialac Paints last week launched its annual ‘Varna Pooja’ to paint the entire Dalada Maligawa complex in Kandy ahead of this year’s Esala Perehera. Now in its tenth consecutive year, this annual ‘Varna Pooja’ by Lankem Paints is not ... Read more

Business | Hits: 185 | Comments

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'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: 269 | 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: 730 | Comments

Autogas on the rise as world’s preferred alternative fuel

June 23, 2014 (LBT) - Rapidly gaining popularity as cleanest and most environmentally friendly automotive fuel, Autogas is lmost 50% more cost effective than using a petrol vehicle Road travel remains an essential feature of the world’s transportation mix, and is of tremendous importance to the many commuters who use this mode of transport. Autogas is the most commonly used and widely accepted alternative to conventional oil-based transport fuels, petrol and diesel due to the impressive environmental benefits it offers and its practical and cost advantages. Autogas is the third most popular automotive fuel in the world, with approximately 23 million vehicles in use around the world and over 57,000 refuelling sites. Autogas is the most accessible alternative fuel and driving an Autogas vehicle is safe, easy and in several countries, almost 50% cheaper than driving a petrol vehicle. Autogas also has an octane rating that is between 90 and 110. The use of Autogas is extremely popular in several countries and regions around the world including the European Union, Turkey, Australia, South Korea, Hong Kong, India, Croatia, Lithuania, the Philippines, Macedonia and Serbia with several of these countries having well-developed Autogas markets. Turkey has the highest percentage of Autogas vehicles in the world. ... Read more

Opinions | Hits: 1491 | Comments

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Week ends on a mixed note

Jul 18, 2014 (LBT) - The indices closed on a mixed note with turnover crossing the Rs 1.3 Bn mark. Institutional and high net worth interest was evident in Lanka Ashok Leyland and contributed to 31% of turnover. Retail interest was evident in Access Engineering while mixed interest was seen in John Keells Holdings and Commercial Bank. Foreign activity remained subdued and closed as net buyers. ASPI and S&P SL20 gained 0.91% and 0.97% respectively for the week ended. Motors sector was the top contributor to the market turnover (due to Lanka Ashok Leyland) whilst the sector index gained 1.20%. Lanka Ashok Leyland saw its share price gain Rs 10.00 (0.57%) to close at Rs 1,750.00. Banks, Finance & Insurance sector ... Read more

Movement | Business Editor | Hits: 225 | Comments

Market takes a breather

Jul 17, 2014 (LBT) - Market took a breather with indices losing ground with counters such as Sri Lanka Telecom and Lion Brewery witnessing price losses. Institutional and high net worth interest was evident in Hatton National Bank and John Keells Holdings while retail interest was evident in FLC Holdings and E-Channeling. Meanwhile, active interest was seen in finance companies such as Arpico Finance, Singer Finance and Nation Lanka Finance. Diversified sector was the top contributor to the market turnover (due to John Keells Holdings and FLC Holdings) whilst the sector index edged down 0.19%. John Keells Holdings saw its share price gain Rs 0.10 (0.04%) to close at Rs 245.00 while the foreign holding of the counter increased by 604,790 ... Read more

Movement | Business Editor | Hits: 211 | Comments

Market continues to strengthen

Jul 16, 2014 (LBT) - Market continued its strong momentum with index heavy counters such as Bukit Darah, John Keells Holdings and Carson Cumberbatch witnessing price gains. Institutional and high net worth interest was evident in Lanka Walltiles and Textured Jersey while retail interest was seen in PC Pharma, Vallibel Finance and E-Channelling. Foreigners remained active closing as net buyers for the day with buying seen in Distilleries and Hatton National Bank. Diversified sector was the top contributor to the market turnover (due to John Keells Holdings) while the sector index gained 0.84%. John Keells Holdings saw its share price gain Rs 2.50 (1.03%) to close at Rs 244.90 with the foreign holding of the counter increasing by 747,901 shares. ... Read more

Movement | Business Editor | Hits: 247 | Comments

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Sports

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

Kandy Speed Night 2014

Jun 24, 2014 (LBT) - The streets of the hill capital of Sri Lanka will come alive  once  again  when  the  City’s  most  awaited  motorcar and  motorcycle  racing  event  flags ... Read more

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Politics

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

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World News

BRICS nations to create $100bn development bank

July 17, 2014 (LBT) - The leaders of the five BRICS countries have signed a deal to create a new $100 billion (£58.3 billion) development bank and emergency reserve fund. The BRICS group is ... Read more

eBay profits rise despite 'challenging quarter'

July 17, 2014 (LBT) - Online retailer eBay reported profits of $676m (£395m) during the period from March to June, beating analyst expectations. Shares in the company were up by more ... Read more

UK unemployment falls to six year low of 2.12m

July 17, 2014 (LBT) - UK unemployment fell by 121,000 to 2.12 million in the three months to May, official figures show. The figure is the lowest level in nearly six ... Read more