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‘Security jobs should not be the last option’

Employment in the security industry should no longer be the last option, but should be raised to a professional sector, said Mrs. D. M. S. D. Jayaratne, Competent Authority & Additional Secretary (Civil Security & Development) Ministry of Defence & Urban Development on Tuesday. In view of the speedy development taking ... Read more

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Demak expands in North with Jaffna Mega Center

Oct. 26, 2014 (LBT) - Demak Sales & Services Lanka (Pvt) Ltd’s Jaffna Mega Center was declared open by Ratnalingam Jeyasekaran, President, Chamber of Commerce, Jaffna recently. Demak customers in the region can now purchase all 7 models of the Demak range – DZM 200, DTM 150, D-tour, Rino S ... Read more

Business | Hits: 36 | Comments

CDB cash rewards with ‘Swipe And Win’ campaign

Oct. 26, 2014 (LBT) - Citizens Development Business Finance PLC (CDB) recently launched their ‘Swipe and Win’ promotion, which offers weekly cash rewards to its loyal customers. Customers simply have to swipe their CDB branded Visa debit cards in order to stand a chance to win the cash rewards on ... Read more

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Kalhari Enterprises wins fourth award for the year

Oct. 26, 2014 (LBT) - Kalhari Enterprises won its fourth award for the year when it received a Silver Award for its export performance in 2013 in the medium category industry sector. The award was presented recently by the National Chamber of Exporters (NCE) at its 22nd Annual Export Awards ... Read more

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SATL ‘CIO Weekend Forum’ at Centara Ceysands

Oct. 26, 2014 (LBT) - South Asian Technologies Pvt Ltd (SATL), Sri Lanka’s leading IT solutions provider, recently held its much looked forward to annual CIO Weekend Forum at Centara Ceysands, Aluthgama. Nearly 60 Chief Information Officers and Heads of IT from leading corporates including the Telco, BFSI and the IT ... Read more

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SLIIT bags Gold, Bronze Awards at NBQSA 2014

Oct. 25, 2014 (LBT) - Two teams from the premier degree awarding institute SLIIT, clinched the Gold and Bronze awards under the Tertiary Student Category - Technology at the recently concluded National Best Quality ICT Awards (NBQSA). Both Gold and Bronze winners have been nominated to participate at the Asia ... Read more

Business | Hits: 250 | Comments

Arden Institute first public seminar on Oct. 30

Oct. 25, 2014 (LBT) - Top personality development and corporate etiquette training consultant Nedra Wickremesinghe launches her first public seminar from her new school, Arden Institute, which opened its doors recently at its newly refurbished location at Charles Circus, Colombo 3. The new seminar to be held at Cinnamon Grand ... Read more

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Piramal Glass 1st half year PAT Rs. 170 million

Oct. 25, 2014 (LBT) - Piramal Glass Ceylon PLC (PGC) has announced its 1st half year results for the Financial Year 2014-15 with a marginal 3% growth in turnover from Rs. 2,476 million in FY14 to Rs. 2,558 in FY15 with a PAT ofRs. 170 million as compared to Rs. ... Read more

Business | Hits: 243 | Comments

Com Bank sweeps board at Brand Excellence 2014

Oct. 25, 2014 (LBT) - The Commercial Bank of Ceylon won the coveted ‘Service Brand of the Year’ and three other accolades at the 2014 SLIM Brand Excellence Awards to become the bank that won the most awards at this prestigious event conducted by the Sri Lanka Institute of Marketing. Sri ... Read more

Business | Hits: 239 | Comments

Dr Parakrama to address 39th PMTA Conference

Oct. 24, 2014 (LBT) - Dr Parakrama Dissanayake, Chairman/CEO of Aitken Spence Maritime, Logistics and Cargo and Director of Aitken Spence PLC, has been invited to address the 39th Pacific Maritime Transport Alliance (PMTA) to be held at Alofi, Niue Islands, off New Zealand, to be held from October 28 ... Read more

Business | Hits: 383 | Comments

Wilpattu Sloth Bear discussion on Wednesday

Oct. 24, 2014 (LBT) = A presentation and interactive discussion titled ‘The Sri Lankan Sloth Bear: Recent Findings from Wilpattu’ is to be held on Wednesday, October 29 from 4:30 to 6:30pm at the Auditorium of the National Science Foundation, 47/5, Maitland Place, Colombo 07. The event is open to Members ... Read more

Business | Hits: 375 | Comments

zMessenger to host 1st mobile marketing forum

Oct. 24, 2014 (LBT) zMessenger, Sri Lanka’s largest mobile marketing solutions provider will bring together top brand leaders from FMCG, hospitality, banking and financial services to the island’s first roundtable on mobile marketing scheduled for Thursday, October 30, 2014 The event titled Embracing Mobile Mind Shift – Mobile Moments are the ... Read more

Business | Hits: 365 | Comments

Holcim Lanka feted at SLIM Brand Excellence

Oct. 23, 2014 (LBT) - Outperforming several high profile brands hailing from several different sectors and further cementing its place as one of the leading brands in Sri Lanka, Holcim (Lanka) secured the prestigious Silver Award as the Turnaround Brand of Year at the recently held SLIM Brand Excellence Awards ... Read more

Business | Hits: 611 | Comments

4Ever Skin Naturals Prove Brand Excellence

Oct. 23, 2014 (LBT) - The 13th SLIM Brand Excellence awards held at the BMICH crowned a truly home grown, community conscious brand, with the bronze award for Brand of the Year for the SME sector. 4Ever Skin Naturals glowed radiantly at the awards show, when the distinguished panel of ... Read more

Business | Hits: 472 | Comments

Singer gives top 10 Gr. 5 Scholars X Series laptops

Oct. 23, 2014 (LBT) - Singer (Sri Lanka), the country’s number one consumer durables retailer, recently gave away Singer X Series notebooks to each of the top 10 Grade 5 scholarship winners. The prize-giving was organized by the Sri Lanka Rupavahini Corporation (SLRC) in order to celebrate the achievements of ... Read more

Business | Hits: 455 | Comments

TBWA\Sri Lanka shines @ Spikes Asia 2014

Oct. 22, 2014 (LBT) - At the recently concluded Spikes Asia Festival of Creativity, TBWA\Sri Lanka walked away with 3 metals and a finalist accolade.  The recognition came with a Silver Spike in the Design category for the Vesak Print Ad – “Space to Pray” for AIA Insurance and 2 ... Read more

Business | Hits: 595 | Comments

Sampath Bank ranked 'Best Retail', 'Best Commercial'

Oct. 22, 2014 (LBT) - Sampath Bank was recently feted as the ‘Best Commercial Bank’ and the ‘Best Retail Bank’ in Sri Lanka by the critically acclaimed UK based World Finance Magazine. The awards recognize excellence achieved by banks against several criteria, including; overall performance, financial ratios, variety and clarity ... Read more

Business | Hits: 603 | Comments

Two new office automation solutions by Gestetner

Oct. 22, 2014 (LBT) - Global technological advancement continues to drive the world to new heights. Gestetner of Ceylon Plc., adopted these global trend changes time to time and transformed it to fit the SL market innovatively. This is one of the very reasons how they sustained their business well ... Read more

Business | Hits: 611 | Comments

Alliance Finance with 12 schools in its Green Pledge

Oct. 22, 2014 (LBT) - Alliance Finance has led the way on corporate initiatives to care for the environment with its Green Pledge. With its focus on the three Ps - People, Planet, Profit - it became the first triple bottom line focused company in the financial services sector in ... Read more

Business | Hits: 471 | Comments

Demak expands to North with Jaffna Mega Center

Oct. 22, 2014 (LBT) - Demak Sales & Services Lanka (Pvt) Ltd’s Jaffna Mega Center was declared open by Ratnalingam Jeyasekaran, President, Chamber of Commerce, Jaffna recently. Demak customers in the region can now purchase all 7 models of the Demak range – DZM 200, DTM 150, D-tour, Rino S ... Read more

Business | Hits: 463 | Comments

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Risky business of price controls and guaranteed prices

Oct. 26, 2014 (LBT) - The anticipated national elections have spawned a spate of misguided and unaffordable claims and counter claims. There have been calls for price controls for ‘essential commodities’ and a higher guaranteed price for paddy farmers as well as the introduction of a guaranteed price for fish. When considering such requests, it is important to learn from the mistakes of the past. Repeating policies, which have undermined the development of the country and ultimately imposed additional burdens on the people, would not serve anyone’s interest, particularly those who need ‘relief’ the most. In this connection, it would be useful to examine why price controls and subsidizing ‘essential commodities’ was a failed policy in the past. There is also merit in considering what the best instrument is for providing relief and how it can be targeted to those most in need. Finally, one needs to understand how best to treat the causes rather than the symptoms of the ‘cost of living problem’ which are triggering the pressure for these distortionary policies. Failed Policies For thirty years from the dawn of independence, there was a food ration scheme which covered some ‘essential items’, including free rice. This was then converted into ... Read more

Opinions | Hits: 22 | Comments

Grave situation faced by Plantation Industry highlighted

Oct. 18, 2014 (LBT) - The grave situation the Plantation Industry is facing was brought to the notice of Basil Rajapaksa, Minister of Economics Developments at the 78th Annual General Meeting of the Ceylon Planters’ Society held at Waters Edge on September 27, 2014. The Chief Guest was Gamini Lokuge, Minister of Labour and labour relations and also gracing the occation as the guest of honour was Neil Bogahalanda, the newly appointed Chairman of Sri Lanka State Plantations Corporation and Elkaduwa Plantations Ltd. Suresh Nawaratnam, President of the Ceylon Planters’ Society presented the review or the Annual Report on the activities of the Society’s work citing its accomplishments, the new problems, the solutions and plans for the future. The President placed before Minister Basil Rajapaksa the grave situation the Plantation Industry is facing and said that some of the grievances are significant and serious. He said the Plantation Industry as reported last year did have to face numerous problems and even at present faces many problems. Some of the major issues he mentioned are: • The felling and selling of state owned trees in the Sate Governed plantation sector. • Issues related to Chilaw Plantations Ltd. • The depleted condition in some of the company ... Read more

Opinions | Hits: 692 | Comments

‘Growing Food Organically leads to financial independence’

Oct. 13, 2014 (LBT) - Growing food organically is the path towards financial independence and improving nutritional standards, says Mahinda Yapa Abeywardena, Minister of Agriculture. He made these observations while visiting families enrolled under the Sustainable Agriculture Development Programme (SADP) in Weligama to inspect the progress made since his previous visit. “The Sustainable Agriculture Development Programme promotes the use of organic agriculture practices by raising awareness on the effects of using chemical fertilisers and pesticides. I strongly support its endeavour in encouraging families to organically grow their own food wherever possible, leading them towards financial independence while improving their nutritional standards” said Minister Abeywardena. The Minister also distributed large water storage vessels to all 400 families in Borala and Denipitya areas during his visit. During his visit, the Minister also attended two meetings in Borala and Denipitiya, where he addressed beneficiaries of SADP and appreciated the programme’s contribution to uplift the lives of the people in the area. While urging the beneficiaries to make the most of SADP’s offering, he further reiterated the importance of organic agriculture and its role in the national agriculture development drive under programmes such as ‘Api Wawamu – Rata Nagamu’ and ‘Divi Neguma’. In the Matara District alone, SADP has ... Read more

Opinions | Hits: 732 | Comments


Foreign buying boosts the turnover

Oct. 21, 2014 (LBT) - The indices closed in red due to the negative contribution from the Banking Finance and Insurance Sector. Retail interest was seen in Laxapana Batteries and Madulsima Plantations while mixed interest was observed in Access Engineering, Dipped Products and Housing Development Finance Corporation Bank. Foreigners remained active with foreign buying accounting for 49% of the turnover closing as net buyers. Diversified sector was the top contributor to the market turnover (due to John Keells Holdings) whilst the sector index moved down by 0.58%. The share price of John Keells Holdings decreased Rs 0.20 (0.08%) to close at Rs 247.00 while the foreign holdings increased by 513,676 shares. Banks, Finance and Insurance sector was the second highest contributor to the ... Read more

Movement | Business Editor | Hits: 187 | Comments

Week commences in red

Oct. 20, 2014 (LBT) - The indices closed in the negative territory due to price losses in Commercial Bank, Nestle Lanka and CT Holdings. High net worth interest was witnessed in Seylan Developments as a block trade while retail interest was seen in Chilaw Finance, Renuka Agri Foods and Madulsima Plantations. Additionally, mixed interest was observed in Union Bank of Colombo, Millennium Housing Developments and Capital Alliance & Finance. Foreign activity remained low closing as net buyers. Banks, Finance and Insurance sector was the top contributor to the market turnover (due to Seylan Bank) whilst the sector index lost 0.23%. The share price of Seylan Bank gained Rs 2.00 (2.27%) to close at Rs 90.00. Diversified sector was the second highest contributor to ... Read more

Movement | Business Editor | Hits: 368 | Comments

Week ends on a negative tone

Oct. 17, 2014 (LBT) - Both ASPI and S&P SL20 closed in red due to negative price movements on counters such as John Keells Holdings, Commercial Leasing and Sri Lanka Telecom whilst turnover crossed the Rs 1.0 Bn mark. High net worth and institutional interest was witnessed in Commercial Bank as block trades. Retail interest was mainly seen in Panasian Power, SMB Leasing, Blue Diamond Jewellery Worldwide and FLC Hydro Power. Meanwhile, mixed interest was observed in Alufab, Brac Lanka Finance and First Capital Holdings. Foreign activity remained subdued and closed as net buyers. Over the week, ASPI and S&P SL20 both dropped by 1.18% and 1.96% respectively. Banks, Finance and Insurance sector was the top contributor to the market turnover (due to Commercial Bank, ... Read more

Movement | Business Editor | Hits: 281 | Comments

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Sport 1st together with Mobitel launches ‘The Platinum Awards 2014’

The Oscars of Sports Awards Ceremonies in Sri Lanka Oct. 22, 2014 (LBT) - The National Mobile Service Provider Sri Lanka Telecom Mobitel in partnership with Sport  1st recently ... Read more

Golf Hut at the Nuwara Eliya Golf Club gets a new face

Oct. 09, 2014 (LBT) - The ‘Golf Hut’ at the Nuwara Eliya Golf Course recently underwent a metamorphosis at a cost of over two million rupees enabling the club to ... Read more

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



UPFA wins only 19 seats in Uva as against 25 in 2009

Sep. 21, 2014 (LBT) - The governing United People’s Freedom Alliance (UPFA) won the Uva Provincial Council elections managing to secure 19 seats in the two districts of Badulla and ... 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


World News

UK economic growth to fall to 2.4% in 2015, says EY Item Club

Oct. 20, 2014 (LBT) - The UK economy will grow by 2.4% in 2015, well below the 3.1% growth expected this year, forecasting group EY Item Club has said. It says ... Read more

Huawei becomes the first Chinese company to rank in Interbrand's Top-100 Best Global Brands of 2014

Oct. 20, 2014 (LBT) - Huawei became the first Chinese company to rank in Interbrand's Top-100 Best Global Brands of 2014, at No. 94. On the ranking, Interbrand said: “With ... Read more

Etihad Airways Partners offers customers more choice

Oct. 16, 2014 (LBT) - Etihad Airways recently unveiled Etihad Airways Partners, a new brand which brings together like-minded airlines to offer customers more choice through improved networks and schedules ... Read more