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Northern Power Co not responsible: MTD Walkers

Jan. 26, 2015 (LBT) - All available scientific evidence shows that the powerhouse of North Sri Lanka – Northern Power Co (Pvt) Ltd is not any way linked to the issue of ground water contamination in Jaffna, and that such baseless allegations have been fueled by parties with vested interests, ... Read more

Business | Hits: 21 | Comments

Concern over domestic tourism being overlooked

Jan. 26, 2015 (LBT) - The neglect in developing the Domestic Tourism Sector Resorts has been over looked and the conditions in most resorts are poor, say tourism veterans.Anuradhapura the Sacred City, is in a very poor condition and should be given immediate consideration for improvement. Quite apart from being ... Read more

Business | Hits: 23 | Comments

Mannar Block presents challenges, says Cairn

Jan. 26, 2015 (LBT) - Cairn India in their third quarter report ended December 31, 2014says that commercialization of the gas discoveries made on block SL-2007-01-001 (Sri Lanka) continues to present challenges.  The Company is refining the Sri Lanka technical evaluation of the remaining exploration prospects on the block that ... Read more

Business | Hits: 24 | Comments

Call from EASL: Eliminate barriers hampering exports

Jan. 26, 2015 (LBT) - The Exporters’ Association of Sri Lanka (EASL) expects the new government to take steps to eliminate some of the barriers and deficiencies the sector faces towards boosting exports.Extending its good wishes to the newly elected President Maithripala Sirisena, Prime Minister Ranil Wickremesinghe, the new cabinet ... Read more

Business | Hits: 19 | Comments

Lankan Women Biz Policy unveiled in Colombo

Jan. 25, 2015 (LBT) The clarion call of Sri Lanka’s women entrepreneurs to integrate them to the national policy formulation in the country’s new era has resonated at high levels when a pioneering Women’s Chamber made its advocacy push at their behest on January 21 in Colombo - and the ... Read more

Business | Hits: 48 | Comments

ETA Global Business Strategic Meeting in SL

Jan. 25, 2015 (LBT) - ETA Melco, the global giant of providing end-to-end solutions for vertical transportation requirement, is holding its fourth global business strategic meeting this year in Sri Lanka. The event will take place from January 29 to February 1 at Anantaya Resort & Spa in Chilaw. Representatives including ... Read more

Business | Hits: 56 | Comments

Altair pioneers tie with Quintessentially Lifestyle

Jan. 25, 2015 (LBT) - Altair, Sri Lanka’s trend-defining luxury residential development, has announced an exclusive partnership with Quintessentially Lifestyle, the global private members club and concierge service, to offer an onsite concierge service that will provide its residents with access to services and benefits around the world. Apartment owners in ... Read more

Business | Hits: 43 | Comments

Motivated Public Service needed: Sunil Wijesinghe

Jan. 25, 2015 (LBT) - Sri Lanka needs good systems and good procedures in the public sector, modern and productive tools and equipment to facilitate these processes, but most of all Sri Lanka needs good people in the public service who are motivated and skilled, said Sunil G. Wijesingha, outgoing ... Read more

Business | Hits: 49 | Comments

Communication veterans behind SLIM Effie Awards

Jan. 25, 2015 (LBT) - The Sri Lanka Institute of Marketing (SLIM) has entrusted the organising of its hallmark event, the 2014 Effie Awards, to a group of diverse professionals from the marketing and advertising industries, each of whom brings distinct proficiencies to the table. The Organising Committee for the ... Read more

Business | Hits: 60 | Comments

VTN-Jetwing to increase hospitality jobs in North

Jan. 24, 2015 (LBT) - Deutsche Gesellschaft fuer Internationale Zusammenarbeit (GIZ) GmbH – Vocational Training in the North of Sri Lanka (VTN) project recently signed a memorandum of understanding with Vocational Training Authority (VTA) and Jetwing Hotels, Sri Lanka’s premier hospitality brand to improve and increase employability in the hospitality ... Read more

Business | Hits: 96 | Comments

Disrupt Unlimited’s ‘500 Hours’ challenge begins

Jan. 24, 2015 (LBT) - The race to a prize of US$ 50,000 (about Rs 6.5 million) in seed funding, leading to a lucrative business start-up, has begun in earnest for 54 innovators competing in the ‘500 Hours’ innovation competition hosted by Disrupt Unlimited, the Brandix-led start-up seed accelerator. Launched ... Read more

Business | Hits: 90 | Comments

Anchor invokes mothers’ blessings on children

Jan. 24, 2015 (LBT) - Anchor, which has been providing high quality dairy nutrition to the nation for the past 37 years, recently conducted a special initiative as part of their social responsibility by invoking blessings on the children of the nation through the unique Sri Lankan ritual of a ... Read more

Business | Hits: 77 | Comments

Move to make HNB ‘Bank Of The Future’: Alles

Jan. 24, 2015 (LBT) - Hatton National Bank (HNB), as the premier private sector commercial bank in Sri Lanka, has aggressively driven adoption of the latest technology and deployment of alternate banking channels. The bank recently launched an integrated marketing campaign titled ‘New World Banking’ in order to create awareness ... Read more

Business | Hits: 91 | Comments

Fifty more schols, laptops to u'grads from Com Bank

Jan. 24, 2015 (LBT) - The Commercial Bank of Ceylon has presented another 50 undergraduates from seven state universities with scholarships and laptops under the Bank’s CSR Trust’s ‘Sarasaviyata Nawa Saviyak’ community initiative. The selected undergraduates will each receive Rs 30,000 a year for the period they spend at university. ... Read more

Business | Hits: 86 | Comments

SMEs have limited access to finance: Thilak Godamanne

Jan. 24, 2015 (LBT) -Around 75 per cent of the enterprises in Sri Lanka can be classified as SMEs and they account for approximately 45% of the employment in the country. It is noted that many SMEs have limited access to Finance and do not use latest technology which has ... Read more

Business | Hits: 74 | Comments

EU to enhance SL global platform to next level

Jan. 23, 2015 (LBT) - With the dawn of a new economic era on Sri Lanka, the EU has lost no time and moved fast to enhance its engagement with the country’s global trade platform to advance it to the next levels and Sri Lanka’s trade with EU, the country’s ... Read more

Business | Hits: 186 | Comments

Dialog mobile subscription for Falck Medical Services

Jan. 23, 2015 (LBT) - With the objective of providing high quality emergency medical care to the entire Western Province by March 2015, Falck recently entered into a strategic partnership with Sri Lanka’s premier telecommunication service provider, Dialog Axiata. Falck, the world’s leading Emergency Medical Services (EMS) provider and Dialog are ... Read more

Business | Hits: 100 | Comments

TVS Lanka introduces six new scooter models

Jan. 23, 2015 (LBT) - TVS Lanka (TVSL) is a premier automotive company in Sri Lanka specializing in micro automobiles, such as motorcycles, scooters and three wheelers. Spare parts, tires and lubricants form the rest of the portfolio of products. “Having recorded an unprecedented Rs.1.6 billion revenue growth and eight times ... Read more

Business | Hits: 118 | Comments

Munchee, largest biscuit exporter in Sri Lanka

Jan. 23, 2015 (LBT) - Munchee, the flagship brand of Ceylon Biscuits Ltd (CBL) the nation’s premier food and confectionery manufacturer, has reaffirmed its leadership as the largest exporter of biscuits in Sri Lanka. Munchee accounted for more than 70% of the country's exports, according to Mclloyd Business Intelligence. The Conglomerate’s ... Read more

Business | Hits: 105 | Comments

50 more schols, laptops to undergrads from Com Bank

Jan. 22, 2015 (LBT) - The Commercial Bank of Ceylon has presented another 50 undergraduates from seven state universities with scholarships and laptops under the Bank’s CSR Trust’s ‘Sarasaviyata Nawa Saviyak’ community initiative. The selected undergraduates will each receive Rs 30,000 a year for the period they spend at university. This was ... Read more

Business | Hits: 127 | Comments

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Sri Lanka needs good people in the public service: Sunil G. Wijesingha

Jan. 23, 2015 (LBT) - Sri Lanka needs good systems and good procedures in the public sector, modern and productive tools and equipment to facilitate these processes, but most of all Sri Lanka needs good people in the public service who are motivated and skilled, said Sunil G. Wijesingha, outgoing president of the National Chamber of Commerce on Wednesday. Addressing the 56th AGM of the Chamber on January 21, the outgoing president said that if Sri Lanka is to reach the status of a developed country it must initiate an improvement of the public sector, and the present environment was the best time to initiate such a programme. Among those present at the event were Karu Jayasuriya, Minister of Buddha Saasana, Public Administration, Local Government, Provincial Councils and Democratic Governance; Dr Eteri Kvintradze, Resident Representative of the International Monetary Fund; Rajiva Wijesinha, State Minister of Higher Education; Members of the Diplomatic Corps, Ministry Secretaries, Heads of Government Departments and Government Officials. Following are excerpts of Mr. Wijesinghe’s address: It is indeed a great privilege to have a previous President of the Chamber as our Chief Guest, and I warmly welcome Hon Karu Jayasuriya, who promptly accepted our invitation. The Chamber is also grateful to ... Read more

Opinions | Hits: 92 | Comments

Crisis In Tea Industry

Jan. 18, 2015 (LBT) - On behalf of the president and the members of the Ceylon Planters Society, I wish to congratulate the newly appointed Minister of Plantations Industries, Lakshman Kiriella. We wish to assure the Minister of our unstinted support in all his endeavours to redirect the Plantation Industry to face the very difficult challenges of today. We are confident that he will soon make our Industry a viable, secure and strong one ready to serve the next generation of Sri Lankans, as it has served the generations before. With his experience, maturity and above all a sense of devotion and vision, the industry will usher in bringing about development in the plantations. When the Mr. Kiriella was the Minister of Plantations, he said that he has always been a firm believer that our competition is not with other tea producing countries but the real competition is with other beverages such as coffee, carbonate drinks, juices, alcohol, beer, mineral water, milk, etc. He further said in many developed countries and societies, the teenagers and the youth who are going to be decision makers in future are addicted to fizzy drinks and other beverages. Minister Kiriella observed that the industry ... Read more

Opinions | Hits: 193 | Comments

Focus on " Innovation within the education eco system" - Shanil Jayasekera

Jan. 16, 2015 (LBT) - Asian International Academy, which was re-named recently with the appointment of its new board, focuses on an innovative education eco system approach in the current market context. Since its inception in 2011, the educational institute has based its vision on its three core values, which are innovation, contemporary and equality. Below are excerpts of an interview conducted with Mr. Shanil Jayasekera - a seasoned professional in the education industry, who is the Managing Director of Asian International Academy... Q: What were the changes made? A: The company has strengthened its management with senior professionals Mr. R. Muralidharan, Managing Director of Bartleet Religare Securities has been appointed as the Chairman of Asian International Academy, Dr. Rohitha De Silva, a visionary entrepreneur who has his presence in variety of industries including healthcare, IT and media has been also appointed as a Director of the company. The new board of directors comprise of Mr. R. Muralidharan, Dr. Rohitha De Silva and myself, who. The Asian International Academy is based on three core values namely innovation, equality and contemporary which comes as a collaboration of these three experienced professionals. We have been serving the nation for the past 3 years and ... Read more

Opinions | Hits: 245 | Comments

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Foreign sales boost turnover

Jan. 23, 2015 (LBT) - The indices closed in red as a result of price losses in counters such as Carsons Cumberbatch, John Keells Holdings and Bukit Darah whilst the turnover crossed 987 Mn. Block trades were witnessed in John Keells Holdings, Distilleries and Dialog Axiata. Mixed interest was observed in Lanka IOC, Sierra Cables and Access Engineering whilst retail interest was noted in Textured Jersey Lanka, Arpico Insurance and Union Bank. Meanwhile, foreigners remained active closing as net sellers for the day. Foreign sales accounted for 63% mainly due to foreign sales in Distilleries and John Keells Holdings. During the week, both ASPI and S&P SL20 lost 3.16% and 3.98% respectively. Beverage, Food and Tobacco sector was the top contributor to the market turnover ... Read more

Movement | Business Editor | Hits: 101 | Comments

Indices close with gains

Jan. 22, 2015 (LBT) - The ASPI and S&P SL20 closed in green whilst the market turnover crossed the Rs 1.1 Bn mark. Blocks on Commercial Bank, Hatton National Bank and Distilleries were traded indicating participation of high net worth and institutional investors. Mixed interest was observed in Union Bank, Dialog Axiata and People's Leasing & Finance whilst retail interest was noted in Textured Jersey Lanka, Browns Investments and Piramal Glass. Meanwhile, foreigners remained active closing as net buyers mainly due to foreign purchases in Hatton National Bank. Banks, Finance and Insurance sector was the top contributor to the market turnover (due to Hatton National Bank, Commercial Bank, DFCC Bank and Union Bank) whilst the sector index lost 0.34%. The share price of ... Read more

Movement | Business Editor | Hits: 87 | Comments

Indices close in the negative zone

Jan. 21, 2015 (LBT) - The price losses in counters such as John Keells Holdings, Chevron Lubricants and Dialog Axiata resulted in the indices to close with losses while the turnover crossed Rs 796 Mn. High net worth and institutional investor participation was witnessed in Nations Trust Bank, National Development Bank, Anilana Hotels & Properties and Access Engineering as parcel trades. Mixed interest was observed in MTD Walkers whilst retail interest was noted in Lanka IOC, Amana Takaful and MTD Walkers Rights. Foreigners remained active closing as net buyers mainly due to foreign purchasing in National Development Bank and Sampath Bank. Banks, Finance and Insurance sector was the top contributor to the market turnover (due to Nations Trust Bank, National Development Bank and Sampath Bank) ... Read more

Movement | Business Editor | Hits: 163 | Comments

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