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'Most Lankans unaware of opportunities in China'

Dec. 21, 2014 (LBT) - Most of the Sri Lankan small and medium business persons and investors are not aware of the opportunities in China despite the fact that  Chinese are investing in Sri Lanka on a large scale, says Nihal Aluvihare, President and Advisor of Chengdu Economic and Trade ... Read more

Business | Hits: 153 | Comments

Ceramics Industry call to reduce crude oil prices

Dec. 21, 2014 (LBT) - The future of the Ceramics and Glass Industry in Sri Lanka is greatly dependent on energy, and as such Mahendra Jayasekara, President of the Sri Lanka Ceramic and Glass Council has called for reduction in furnace oil prices taking into consideration that the present fuel ... Read more

Business | Hits: 158 | Comments

Cultural shows, city tours in Wonder Of Colombo

Dec. 21, 2014 (LBT) - The Ministry of Defence and the Urban Development Authority join hands with the Colombo City Tour, the open deck city sightseeing service by Sri Lanka Tourism and Ebert Silva Holidays, to enable Sri Lankans and visitors from around the world to explore the wonders of ... Read more

Business | Hits: 157 | Comments

Amaya Lake bags Gold Circle from Agoda.com

Dec. 21, 2014 (LBT) - Amaya Lake in Dambulla is the proud recipient of the 2014 Gold Circle Award by Agoda.com, Asia’s leading hotel booking site. This award recognizes properties that go above and beyond the call of duty in offering unique, world-class service for the betterment of the hospitality ... Read more

Business | Hits: 177 | Comments

Novel offer to beautify living spaces till Jan 15

Dec. 20, 2014 (LBT) - The painter colouring the Pearl of the Indian Ocean stating that it is the largest and the private banker claiming to be the biggest in the Serendib have introduced a novel offer to all their client enthusiasts. The new promotional offer during the festive season ... Read more

Business | Hits: 317 | Comments

Ceylinco, only insurer among Top 25 companies

Dec. 20, 2014 (LBT) - Ceylinco Insurance, once again earned the honour of being the only Insurance Company amongst the top 25 companies in Sri Lanka for the year 2013 / 2014, at a recent ceremony held at the Colombo Hilton. This marks the third consecutive year that Ceylinco Insurance ... Read more

Business | Hits: 305 | Comments

HNB in $50M credit line with Korea Exim Bank

Dec. 20, 2014 (LBT) - HNB PLC recently entered into an agreement with ‘The Export-Import Bank of Korea’ (KEXIM) to establish a revolving credit line of USD 50 million to finance trade between Sri Lanka and Korea. The master interbank credit agreement was signed in Colombo by Dr Ranee Jayamaha, ... Read more

Business | Hits: 331 | Comments

SriLankan Airlines takes delivery of 2nd A330-300

Dec. 19, 2014 (LBT) - SriLankan Airlines, continuing its extensive wide-body re-fleeting programme, took delivery of its second Airbus A330-300 on Friday, December 19. The new aircraft named ‘The City of Sihagiri’ will be utilised on the major Far Eastern markets of Canton, Shanghai, Beijing and Hong Kong. This latest wide ... Read more

Business | Hits: 438 | Comments

Logistics, Supply Chain MSc Degree through SLIIT

Dec. 19, 2014 (LBT) - SLIIT (Sri Lanka Institute of Information Technology), the premier degree awarding institute in Sri Lanka, has now introduced a MSc Degree in Logistics and Supply Chain Management from the prestigious Sheffield Hallam University (SHU) UK. With programmes in IT, Business and Engineering, the latest programme ... Read more

Business | Hits: 591 | Comments

JAAF identifies Group of 7 as ‘Preferred Partners’

Dec. 19, 2014 (LBT) - The logistics services providers are an integral part in any business process and this importance is underscored in the manufacturing and product processing sectors in particular. They form the part and soul of the process and the success or failure of the business is ultimately ... Read more

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TURRET delivers the unique with luxury brands

Dec. 18, 2014 (LBT) - TURRET, the luxury brand store continues to deliver a unique experience to their clientele with their array of designer brands of watches and writing instruments. In less than six months following the launch of their exclusive store, it has received and continues to gain the ... Read more

Business | Hits: 585 | Comments

Senok Automobiles brings in Audi A3, the World Car

Dec. 18, 2014 (LBT) - Senok Automobiles Private Ltd, a fully-owned subsidiary of Senok Trade Combine Ltd., introduced the New Audi A3 to local motor enthusiasts at the Hilton Colombo Residencies on Tuesday, December 16.The Audi A3, the premium compact bestseller from the brand with the four rings, is the ... Read more

Business | Hits: 572 | Comments

DIMO wins Gold at People Development Awards

Dec. 18, 2014 (LBT) - DIMO’s unique approach to talent development and commitment to deliver its employee value proposition of ‘making work enjoyable and rewarding’ through alignment to business strategy, capability building and employee engagement resulted in DIMO being recognized with a gold award at the SLITAD People Development Awards ... Read more

Business | Hits: 542 | Comments

Insurance Policy, must in seasonal shopping list

Dec. 18, 2014 (LBT) - It’s that time of the year again when your shopping list seems to be getting longer each day. As you rummage the stores to source the ingredients for your festive feasts, the ideal gifts for loved ones and decorations to deck your home, have you ... Read more

Business | Hits: 440 | Comments

New Christmas items, gifts at Coffee Bean and Tea Leaf

Dec. 18, 2014 (LBT) - The Coffee Bean and Tea Leaf, Sri Lanka’s premier specialty coffee shop and lifestyle brand, has launched their new range of Christmas products and gifts, including a special range of drinks, cakes, cookies, macaroons, and gingerbread, and the annual tradition of a Xmas coffee bean ... Read more

Business | Hits: 413 | Comments

Tropic of Linen launches new fashion boutique

Dec. 18, 2014 (LBT) - Premium boutique linen brand, Tropic Of Linen, was launched on 13th December 2014 at its strategic location at No. 1, Wijerama Mawatha, Colombo 7. Specialising in high quality linen wear, the exclusive boutique showcases an exciting blend of contemporary and classic clothing for men and ... Read more

Business | Hits: 342 | Comments

Microsoft supports govt’s ‘Nenasala’ IT Education

Dec. 17, 2014 (LBT) - César Cernuda, President of Microsoft Asia Pacific, who was on a 2-day official visit to Colombo, met with a number of Government officials and the Information and Communication Technology Agency (ICTA) to discuss how the software company can further align with the Sri Lanka Government’s ... Read more

Business | Hits: 287 | Comments

Pooja, brand ambassador for Mackwood's Macktiles

Dec. 17, 2014 (LBT) - Macksons Holdings launched their latest venture, Macktiles in a spectacular event held at the Water’s Edge on December 9, 2014. Dr Jian Dominco Milano, Deputy Ambassador for the Embassy of Italy in Sri Lanka was the Chief guest while Milfer Makeen, Chairman of Macksons Holdings, ... Read more

Business | Hits: 250 | Comments

DVB takes Money Transfer Network to five countries

Dec. 17, 2014 (LBT) - DFCC Vardhana Bank (DVB) recently expanded its Lanka Money Transfer network to more than 275 locations in five countries.  To facilitate the expansion, DVB partnered with Lulu Exchange and Al Ansari Exchange, two of the biggest exchange houses in the Middle East. The company has ... Read more

Business | Hits: 463 | Comments

Australia Gateway unveils opportunities for Lankans

Dec. 17, 2014 (LBT) - Upbeat on growth prospects available for professionals and businesses One of Sri Lanka’s leading Australian Migration Consultants - Australia Gateway, the Sri Lankan arm of Melbourne-based Fairfields Lawyers has embarked on an aggressive promoting investment, trade and immigration opportunities in the Continent, in the light ... Read more

Business | Hits: 242 | Comments

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Emerging need of protection for digital databases

Dec. 16, 2014 (LBT) - A study on digital database protection is particularly relevant at this time because of the current economic climate in Sri Lanka. After 30 years of war, Sri Lanka has been an important economy in the South Asian Region and because of this there is now, more than ever, a compelling need for further investment, innovation and the transfer of technology and knowledge. The knowledge together with technology governs the world’s leading economies. The economies of this world are dominated by creations, manipulation and use of data or information. As a trend it is now transferring to developing countries around the world thanks to the rapid development of Information Technology. As a developing country, electronic or digital concerns are becoming a vital part of the development of Sri Lanka. With the arrival of this information technology climate, mass-produced personal computer, electronic and digital concepts have become dependent on digital databases. Therefore, digital databases have become highly valued commercial commodities. This means that a competitive marketplace has developed which has attracted investors. It can be said that digital databases have become one of the building blocks of foreign and domestic investment in Sri Lanka. Protection on investment ... Read more

Opinions | Hits: 546 | Comments

Profits, shareholder expectations no longer the only objectives, says Suresh Shah

Nov. 27, 2014 (LBT) - In today’s corporate environment, making profits and meeting shareholder expectations are no longer the only objectives. Today, the process of wealth creation is measured, not just in terms of return on investment, but also in terms of a corporate’s impact on society and the environment. Indeed the triple bottom line – profits, planet and people – is here to stay, said Suresh Shah, Chairman of the Ceylon Chamber of Commerce on Tuesday. Delivering his speech at the Best Corporate Citizen Sustainability Awards 2014 ceremony in Colombo, where Dr Subir Gokarn, an Economist and a Former Deputy Governor of the Reserve Bank of India was the keynote speaker and Hilmy Cader, CEO of the MTI Consulting attended as the guest of honour, Mr. Shah said that in 2004, the Ceylon Chamber initiated the Best Corporate Citizen award to encourage and recognize those corporates that adopted the triple bottom line approach to wealth creation. During the formative years, the award was skewed towards a corporate responsibility platform. However, as the name suggests, the award now goes beyond CSR to encompass sustainability, which is the triple bottom line. Following are excerpts of his speech: This evening marks the 11th consecutive year in ... Read more

Opinions | Hits: 922 | Comments

Promoting commercial ties most rewarding, says High Commissioner John Rankin

Nov. 23, 2014 (LBT) -  "As British High Commissioner I have many tasks in representing the United Kingdom’s interests here in Sri Lanka. But one of the most rewarding tasks is the promotion of the commercial relations between our two countries," said John Rankin, High Commissioner of the United Kingdom in Sri Lanka. Addressing the session on Bilateral Trade Between Sri Lanka and U.K that took place on November 29 October at the National Chamber of Commerce, he said that promoting commercial relations and helping to increase bilateral trade between the UK and Sri Lanka is one of his key objectives. “The rapidly growing markets of Asia, which include Sri Lanka, present strong opportunities for British businesses. And British businesses, with their experience, expertise and strong track record in innovation, can in turn match the needs of the market here. A strong commercial relationship is a win-win for both of our countries in building growth, employment opportunities and prosperity,” he said. Following are excerpts of the British High Commissioner John Rankin’s address at the National Chamber of Commerce: UK Trade and Investment (UKTI) and what do they do? I carry out commercial work together with my United Kingdom Trade and Investment (UKTI) team.  UKTI works ... Read more

Opinions | Hits: 1225 | Comments

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market ends on mixed sentiment

Dec. 19, 2014 (LBT) - ASPI closed in green whilst S&P SL20 closed in red with Turnover ASPI S&P SL20 (Indexed) turnover crossing the Rs 660 Mn mark. High net worth and institutional investor participation was witnessed in Asian Alliance Insurance, Pan Asia Power, Commercial Bank, Dialog Axiata, Union Bank and People's Leasing & Finance as parcel trades, accounting for 41% of the turnover. Mixed interest was observed in Renuka Holdings and Renuka Foods. Furthermore, retail interest was noted in First Capital Holdings and Richard Pieris & Company. Meanwhile, foreigners remained active closing as net buyers mainly due to foreign purchases in Commercial Bank and Dialog Axiata. During the week, the ASPI gained 0.22% whilst S&P SL20 dropped by ... Read more

Movement | Business Editor | Hits: 88 | Comments

Blocks in PABC account for 47% of turnover

Dec. 18, 2014 (LBT) - Indices close in green as a result of price gains in Turnover ASPI S&P SL20 (Indexed)   counters such as Lion Brewery, Dialog Axiata and Sri Lanka Telecom whilst the turnover crossed Rs 1.3 Bn. High net worth and institutional investor participation was witnessed in Pan Asia Bank, Hatton National Bank, Commercial Bank, Sampath Bank and People's Leasing & Finance as block trades, accounting for 56% of the turnover. Mixed interest was observed in Pan Asia Power and Tokyo Cement whilst retail interest was noted in Renuka Holdings, Renuka Foods and Piramal Glass. Meanwhile, foreigners remained active for the day closing as net sellers. Banks, Finance and Insurance sector was the top contributor to the market turnover (due to Pan Asia Bank, Hatton National Bank, Sampath Bank and ... Read more

Movement | Business Editor | Hits: 496 | Comments

Turnover Plummets

Dec. 15, 2014 (LBT) - The indices closed in red due to price losses in counters such as John Keells Holdings, Carson Cumberbatch and Ceylon Cold Stores. The turnover crossed Rs 340 Mn which marks the lowest recorded for the second half of the year. Mixed interest was observed in Colombo Land & Development, The Finance Company nonvoting and Access Engineering and retail interest was noted in Sierra Cables, Blue Diamonds Jewellery nonvoting and Piramal Glass. Meanwhile, foreigners remained active and closed as net buyers for the day. Banks, Finance and Insurance sector was the top contributor to the market turnover (due to The Finance Company nonvoting and People's Leasing & Finance) whilst the sector index lost 0.01%. The share price of The ... Read more

Movement | Business Editor | Hits: 398 | Comments

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Sports

Lamindu Rainika is New Junior Golf Champ 2014

Dec. 18, 2014 (LBT) - Lamindu Rainika is the new winner of the Sri Lanka Open Golf Championship title for 2014. Playing very steady golf right through and totaling a ... Read more

Sri Lanka’s Dinesh Deheragoda representing EZY Racing, ranked 2nd in Asia at the APRC races

EZ racing takes Sri Lankan motor racing to greater heights Dec. 10, 2014 (LBT) - Sri Lanka’s Dinesh Deheragoda who represented team EZY Racing has placed Sri Lanka on the map ... Read more

ශ්‍රී ලංකාව සහ ඊසි රේසිං නියෝජනය කරමින් දිනේෂ් දෙහෙරගොඩ ආසියාවේ APRC මෝටර් රථ ධාවන තරඟ වල දෙවන තැනට

ඊසි රේසිං ශ්‍රී ලංකාව මෝටර් රථ ධාවන තරඟ වල තව තවත් ඉදිරයටම Dec. 10, 2014 (LBT) - මේ වසරේ ලෝක මෝටර් රථ ධාවන තරඟ පාලන අධිකාරී Federation Internationale de L’Automobile (FIA), ... Read more

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Politics

Momentum – Asia’s largest synchronized professional forum to be held for the first time in Sri Lanka

Dec. 16, 2014 (LBT) - Organized by ‘Professionals for a Stable Sri Lanka’; Momentum, Asia’s largest synchronized professional forum will be held on Wednesday 17th December, 2014. To be held ... Read more

My image is embedded in peoples’ hearts, says Maithripala

Dec. 01, 2014 (LBT) - Maithripala Sirisena, the common opposition candidate for the upcoming presidential election scheduled for early January 2015, has said that his image is not on cutouts ... Read more

Budget passed with 95-vote majority

Nov. 25, 2014 (LBT) -  The 2015 budget was passed on Monday with a 95-vote majority; 152 MPs voting for and 57 against in the 225-member parliament. At the second ... Read more

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World News

Asian markets caught in global rout

Dec. 17, 2014 (LBT) - Asian markets headed lower on Tuesday as falling oil prices heightened global growth fears and weighed on investors' risk appetite.Leading the losses, Japan's benchmark Nikkei ... Read more

McDonald's in Japan is running out of chips

Dec. 17, 2014 (LBT) - McDonald's in Japan is running out of chips.The fast food company says it can't get hold of enough potatoes because of industrial action in America.As ... Read more

New safer lorries delayed until 2022

Dec. 17, 2014 (LBT) - New lorries designed to make it easier for drivers to spot pedestrians and cyclists face delays of up to eight years, it has emerged.In April, ... Read more