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Ceylon Chamber, PUCSL ‘Electricity Crisis’ seminar on April 25

Apr 20, 2016 (LBT) – The Ceylon Chamber of Commerce in collaboration with the Public Utilities Commission of Sri Lanka is organizing a seminar to discuss the current electricity crisis in Sri Lanka. The discussion will cover the current electricity crisis in Sri Lanka, the historical perspectives, lessons learnt and the ... Read more

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Meet High Commissioner of Pakistan at the National Chamber

Apr 20, 2016 (LBT) – High Commissioner of Pakistan, Major General Shakeel Hussain will be the special guest speaker at a session on ‘Bilateral Trade between Sri Lanka &  Pakistan’ organized by the National Chamber of Commerce of Sri Lanka, on Thursday, April 28,  2016 from 3p.m to 4.30 p.m ... Read more

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Rithihi introduces organic linen Anavila saris to Sri Lanka

Apr 20, 2016 (LBT) – Defining the quintessence of ‘pure’ in Sanskrit, the organic purity of textured linens in Anavila saris is brought to life at Colombo’s exclusive sari store Rithihi on April 29 and 30. Renowned for its soft fluidity that compliments various drapes and silhouettes, the all-natural linen ... Read more

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Brandix again ranked Sri Lanka’s top Export Brand by Brand Finance

Apr 20, 2016 (LBT) – Brandix has been ranked Sri Lanka’s most valuable export brand in Brand Finance’s 2016 ranking of the country’s leading brands, just released in a special edition of the LMD magazine. This is the second consecutive year that Brandix, Sri Lanka’s single largest apparel exporter, has headed ... Read more

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ComBank: Rs 21.54 billion withdrawals in first 14 days of April

Apr 20, 2016 (LBT) – The Commercial Bank of Ceylon smashed its records for cash dispensed via the Bank’s automated teller machine (ATM) network over a 14-day period this ‘Avurudu’ season, dispensing a jaw-dropping Rs 21.54 billion between April 1 and 14. On four of these 14 days, the 625-terminal network ... Read more

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Holcim signs MoU with National Institute of Occupational Safety

Apr 20, 2016 (LBT) – Holcim Lanka, a member of the LafargeHolcim Group, a global leader in the construction material industry, signed a memorandum of understanding (MoU) with the National Institute of Occupational Safety and Health (NIOSH). The MoU affirms that for the 2016 National Safety awards process as the ... Read more

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Travel the world with American Express’ 12 months 0% interest plan

Apr 19, 2016 (LBT) – Just in time for the holiday season, Nations Trust Bank American Express cards once again declared their extended settlement plan programme. Cardmembers can convert any travel related transaction into a 12 month interest free payment plan with their choice of travel agent, tour operator or ... Read more

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Asian Alliance rewards Generation of Innovation at Life Sales Convention

Apr 19, 2016 (LBT) – Asian Alliance Insurance PLC rewarded their top performers at a glittering Life Sales Convention held at the BMICH on March 29, 2016. The gala celebration is now slated as the best sales event in the industry with invitations to participate limited only to the best ... Read more

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Commercial Bank wins top Global Brand Excellence Award in Malaysia

Apr 19, 2016 (LBT) – The strength of Commercial Bank of Ceylon as a corporate brand was recognised on the international stage recently when the Bank was presented the award for ‘Marketing Campaign of the Year’ at the 2016 CMO Asia Awards for Excellence in Branding and Marketing in Kuala ... Read more

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Softlogic Finance opens 30th branch on March 30 in Kochchikade

Apr 19, 2016 (LBT) – Softlogic Finance PLC has opened its 30th fully-fledged branch in Kochchikade, thereby reaching a milestone in its mission to provide easier access and enhanced convenience to its customers. The new branch is conveniently located along the Colombo -Puttalam Main Road, at No. 42, Chilaw Road Kochchikade ... Read more

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Four top performers recognised at AIA Grand Awards for 2015

Apr 19, 2016 (LBT) – Nelum Pokuna Theatre was the sparkling venue where AIA Sri Lanka celebrated Awards Night 2016 recently. The highlight of the evening was the presentation of the four grand awards for achievements in 2015 amidst great fanfare and standing ovations from over 1,200 Wealth Planners who ... Read more

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Ceylon Dollar Bond Fund records an 8.82 per cent dollar return

Apr 18, 2016 (LBT) – The Ceylon Dollar Bond Fund (CDBF) that invests in Sri Lanka Dollar Sovereign Bonds and Bank Bonds has recorded an 8.82% p.a. annualized return (10.60% p.a. in Rupee terms) during the first quarter of 2016. The only dollar denominated fund in Sri Lanka is managed ... Read more

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National awareness seminar by Shippers’ Academy on April 28

Apr 18, 2016 (LBT) – Effective July 1, 2016, any shipping container leaving from any port in the world must be accompanied by a shipping document signed either electronically or in hard copy by the shipper on the bill of lading listing the verified gross mass of a container in ... Read more

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National Chamber’s 'Meet the Minister’ programme on April 25

Apr 18, 2016 (LBT) – Rishad Bathuideen , Minister of Industry & Commerce will attend the National Chamber on ‘Meet the Minister’ programme for an interactive session with the business community on Monday, April 25 from 3pm to 4.30pm at the Chamber Auditorium, No. 450, D. R. Wijewardene Mawatha, Colombo ... Read more

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Sampath Bank: Rs. 12B through ATM network from April 1 to 12, 2016

Apr 18, 2016 (LBT) – Sampath, being the first bank to introduce a revolutionized ATM network in Sri Lanka, dispensed a massive Rs. 12 billion through their ATM network from April 1 to 12, 2016. Among the nation’s pioneering private commercial Banks, Sampath Bank has been constantly recognized for its relentless ... Read more

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Lamudi Avic to host Real Estate Expo 2016 on May 7 and 8 at SLECC

Apr 18, 2016 (LBT) – Sri Lanka’s first local Real Estate Expo, hosted by Lamudi Sri Lanka and powered by AVIC, will take place on May 7 and 8, 2016 at the Sri Lanka Exhibition and Convention Centre (SLECC) in Colombo. Sri Lanka’s real estate market is a healthy choice for ... Read more

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Land in Kuliyapitiya for Volkswagen assembly plant, says BOI

Apr 17, 2016 (LBT) – The Board of Investment of Sri Lanka (BOI) will soon hand over a land in Kuliyapitiya to Senok Automobile (Pvt) Ltd to set up a Volkswagen assembly plant. Volkswagen AG is a world renowned German company. BOI officials worked closely with the Ministry of Lands to ... Read more

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Lanka's economic growth expected to grow at 5.3% in 2016/17, says WB

Apr 17, 2016 (LBT) – Sri Lanka's economic growth is expected to grow at 5.3 per cent in 2016 and 2017 driven by increased public investment and postponed investments in 2015, states a World Bank report. The challenging global environment has taken a toll on the economy with reduced exports and ... Read more

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Global awareness on key industries, investment opportunities in Lanka

Apr 17, 2016 (LBT) – The Ministry of Finance in partnership with CNBC, one of the world’s leading business and financial news networks, has launched ‘Global Opportunities Sri Lanka’, a series that looks into Sri Lanka’s key industries and investment opportunities. Minister of Finance Ravi Karunanayake signed the agreement with Chairman, ... Read more

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ComBank to help new mobile game developers with game competition

Apr 17, 2016 (LBT) – The Commercial Bank of Ceylon will support up-and-coming mobile game developers by recognising their creativity and ability through a mobile game competition, the bank said in a statement. The 'Combank Mobile Game Development Challenge' was conducted by the Bank via Facebook over three months. More than ... Read more

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Potential improvements Colombo will experience in the upcoming years

Apr 12, 2016 (LBT) – Colombo is a city well known for its modern infrastructure and real estate development. Being the commercial capital of Sri Lanka, the city has the potential to become even more popular with investors and property developers than other cities in the South Asian region. Lamudi explores the potential improvements the city will experience in the upcoming years. The history of Colombo’s development The development and growth of the city has been supported by the development of Colombo’s harbor, the growth of the plantation industry and the subsequent development of its road and rail connections to many parts of the island. Thanks to these developments, Colombo became the premier city for commercial, financial, administrative and industrial activities. While there was a rapid influx of people into the city during the British period, the growth of Colombo in terms of its size, functions, and population has also been very successful within the past century. As far as the population is concerned, it is known to have increased six fold between 1871 and the World War II. What is behind Colombo’s regeneration? The Ministry of Defence and Urban Development has given orders to institutions to rectify Colombo’s housing crisis by using new and ... Read more

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Complete overhaul of Sri Lanka’s plantation sector model essential

Apr 04, 2016 (LBT) – The Chairman of the Planters’ Association of Ceylon, Roshan Rajadurai, is confident that incomes of workers will increase significantly in the long run if the proposals of the Regional Plantation Companies (RPCs) for worker remuneration are implemented. Far-reaching changes to the operating model of Sri Lanka’s plantation sector, which goes beyond the worker remuneration mechanism, is essential for the industry’s survival, growth and sustainability, says Rajadurai. The Chairman of the Planters’ Association of Ceylon, which represents the Regional Plantation Companies (RPCs), insists that workers who earn a daily wage under the present paternalistic/dependent system must be transformed to entrepreneurs functioning as part of an Autonomous Social Business Enterprise. Towards this end, it is essential to change the worker remuneration system from the current archaic attendance-based wage to a mutually-beneficial productivity-based wage or a revenue sharing model in which the worker has total control over his/her earnings, he points out. In this interview, Rajadurai delves into issues of vital importance to the plantation industry and outlines his views on an array of topics including the critical role played by the RPCs in sustaining the Ceylon Tea brand, the challenging situation in the estate sector, issues posed by the prevailing ... Read more

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Harvesting efficiency of available workforce crucial for industry survival

Mar 31, 2016 (LBT) – With a view to ensure the sustainability of a rapidly failing industry, the Regional Plantation Companies (RPCs) says it is imperative that harvesting yields are increased and are introducing suitable ‘tea harvesters’ on certain estates. To support plantations workers too in improving productivity, Regional Plantation Companies are mulling greater use of manual shears, recent experiments of which have shown early encouraging signs. In most of the estates managed by the RPCs, in which the workers were given training to use manual shears, an approximately 4kg increase has been witnessed in the daily plucking average (compared with the previous year). In order to improve the plucking efficiency and to overcome the shortage of pluckers, more and more estates are resorting to the use of harvesting shears. Compared with other competing Tea Economies, figures indicate that the labour productivity of Sri Lankan Tea pluckers is very low. It is expected that the use of the Shears will mitigate this anomaly to some degree but greater effort is required to catch up with the outputs of other countries. The labour component in the Cost of Production is close to 67% – 70% of the total cost of production of a ... Read more

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Foreign purchases account for 57% of turnover

Apr 19, 2016 (LBT) – The price gains in counters such as Bukit Darah, Asiri Hospital Holdings and Commercial Leasing & Finance resulted in ASPI closing in green whilst turnover crossed Rs 753 Mn. Similar behavior was witnessed in S&P SL20. High net worth and institutional investor participation was witnessed in John Keells Holdings, Hatton National Bank, Access Engineering and Asiri Hospital Holdings. Mixed interest was observed in Dialog Axiata, Textured Jersey Lanka and Asia Asset Finance whilst retail interest was noted in Tess Agro. Meanwhile, foreigners remained active closing as net buyers mainly due to foreign purchasing in John Keells Holdings and Asiri Hospital Holdings. Total foreign purchases accounted for 56.9% of turnover. Diversified sector was the top contributor to the ... Read more

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Indices record weekly gains

Apr 08, 2016 (LBT) – Price gains in counters such as Commercial Bank, Carson Cumberbatch and Ceylon Beverage Holdings resulted in ASPI closing in green whilst turnover crossed Rs 764 Mn. Similar behavior was witnessed in S&P SL20. High net worth and institutional investor participation was witnessed in Sampath Bank, Distilleries and Hatton National Bank. Mixed interest was observed in People's Leasing & Finance, Lanka Walltiles and Access Engineering whilst retail interest was noted in Ceylon Grain Elevators, Bairaha Farms and Swisstek. Meanwhile, foreigners closed as net sellers for the seventh consecutive day. During the week, the ASPI and the S&P SL20 gained 3.17% and 3.11% respectively. Banks, Finance and Insurance sector was the top contributor to the market turnover (due to Sampath Bank, Hatton ... Read more

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Positive Momentum Continues

Apr 07, 2016 (LBT) – ASPI closed in green for the third consecutive day as a result of price gains in counters such as John Keells Holdings, Commercial Bank and Sri Lanka Telecom whilst turnover crossed Rs 804 Mn. A similar behaviour was witnessed in S&P SL20. High net worth and institutional investor participation was witnessed in DFCC Bank, Sampath Bank, Colombo Land & Development Company and People's Leasing & Finance. Mixed interest was observed in Distilleries, Asian Hotels & Properties and Hatton National Bank whilst retail interest was noted in Bairaha Farms, MTD Walkers and Ceylon Grain Elevators. 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 ... Read more

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