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Purpose-built Campus launched by Nawaloka

Oct. 21, 2014 (LBT) - One of Sri Lanka's most highly diversified conglomerates, Nawaloka Holdings further cemented its presence within Sri Lanka's higher education sphere, launching the Nawaloka College of Higher Studies (NCHS) campus in Colombo 3. The exclusive collaboration between NCHS and Swinburne University of Technology has paved the way ... Read more

Business | Hits: 54 | Comments

Security firms integral part of economic development

Oct. 21, 2014 (LBT) - “The private security companies of this country are important stakeholders and an integral element in the ongoing nation building exercise and as such the CEOs of these organizations bear a vital role of accountability and responsibility in reaching the country’s development goals,” said Major Tissa ... Read more

Business | Hits: 93 | Comments

Piramal Glass first half year PAT Rs. 170 million

Oct. 21, 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 of Rs. 170 million as compared to ... Read more

Business | Hits: 180 | Comments

Ceylon Chamber to conduct seminar on Budget 2015

Oct. 21, 2014 (LBT) - The Ceylon Chamber of Commerce will hold a post budget seminar on October 30 to discuss the ‘National Budget of 2015’, which will be presented in Parliament on October 24. As customary every year, The Chamber will line up top government officials, senior tax consultants and ... Read more

Business | Hits: 173 | Comments

Hublot-Ferrari unveil Big Bang Ferrari 2014 watches

Oct. 20, 2014 (LBT) - Another fantastic and successful second year of collaboration between Ferrari and Hublot came to an end. After the two first Big Bang Titanium and Big Bang Magic Gold launched in 2012 (the first ever scratch-resistant 18-carat gold invented by Hublot), the famous MP-05 LaFerrari which ... Read more

Business | Hits: 298 | Comments

McLarens, lubricants partner of Motor Show

Oct. 20, 2014 (LBT) - McLarens Lubricants Limited, sole distributor for ExxonMobil in Sri Lanka, partnered the Colombo Motor Show 2014 as the official lubricants partner. Organized for the seventh consecutive year the annual Colombo Motor show is regarded as the country's most popular motor and motor accessory exhibition. The exhibition ... Read more

Business | Hits: 267 | Comments

Palpatha Eco Safari Lodge BiodiversityConscious

Oct. 20, 2014 (LBT) - A ground breaking milestone in the eco tourism industry took place recently when the Palpatha Eco Safari Lodge, became the first of its kind in the industry to be certified as a BiodiversityConscious® Lodge. The certification issued by The Carbon Consulting Company, was based on the ... Read more

Business | Hits: 260 | Comments

Truecaller supports Canfi 2014 - walk against cancer

Oct. 20, 2014 (LBT) - Truecaller, world's largest verified mobile phone community, came forth as a sponsor for the Canfi 2014-walk against cancer awareness program held recently in Colombo. Hundreds of youth paraded the streets of Colombo spreading awareness about the disease. The Truecaller Brand Ambassadors in the picture had the ... Read more

Business | Hits: 267 | Comments

SLICM optimistic on Micro Credit Mgnt. Program

Oct. 20, 2014 (LBT) - The Sri Lanka Institute of Credit Management (SLICM) the only institute which offers credit management education in Sri Lanka, opened its registrations for the October intake for the Micro Credit Management Programme, which was recently launched by the institute. SLICM was initiated as a pioneering ... Read more

Business | Hits: 278 | Comments

The SLICM to host 18th Annual Convocation

Oct. 20, 2014 (LBT) - The Sri Lanka Institute of Credit Management (SLICM), the leading institute which offers credit management education in Sri Lanka, will host its 18th Annual convocation on the October 23 at the Centre for Banking Studies with Ajith Nivard Cabraal, Governor of Central Bank gracing the ... Read more

Business | Hits: 204 | Comments

The First Ferry eyes Sri Lanka

Oct. 20, 2014 (LBT) - With successful projects such as The Palm, Burj Khalifa, Emirates Hills and many more, The First Ferry's latest feather in the cap is the revamped BPG - the Bates Pan Gulf Office in Dubai The First Ferry is a Dubai based international boutique design office with ... Read more

Business | Hits: 189 | Comments

Regus brings benefits for collaborative workspaces

Oct. 20, 2014 (LBT) - Across the world, businesses agree that collaborative workspaces are good value, breed efficiency and inspire innovation and entrepreneurial activity. So more and more businesses globally are choosing collaborative work environments to provide their staff with top-class locations in a more cost effective and flexible way. ... Read more

Business | Hits: 195 | Comments

CCC suggests amendments to proposed Land Bill

Oct. 20, 2014 (LBT) - The National Chamber of Commerce has suggested amendments to the proposed Land Bill for the authorities to take cognizance of their concerns and to bring about balanced and appropriate measures in the national interest. Following is the full text of the CCC statement: ‘Having deliberated on the ... Read more

Business | Hits: 136 | Comments

John Rankin guest speaker at bilateral trade session

Oct. 20, 2014 (LBT) - John Rankin, High Commissioner of UK in Sri Lanka, will be the special guest speaker at a session on ‘Bilateral Trade between Sri Lanka and UK’ on Wednesday October 29, 2014 at the Chamber Auditorium, No. 450, D. R. Wijewardene  Mawatha, Colombo  10. The High ... Read more

Business | Hits: 163 | Comments

20,000 milch cows brought down from Australia

Oct. 20, 2014 (LBT) - Sri Lanka and Australia signed an agreement on Thursday, October 16 to import 20,000 milch cows for uplifting small and medium scale dairy farmers under a programme to make Sri Lanka self-sufficient in liquid milk by the year 2016. Importing Australian milch cows of superior ... Read more

Business | Hits: 154 | Comments

CDB cash rewards with ‘Swipe and Win’ campaign

Oct. 20, 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

Business | Hits: 107 | Comments

DFCC Vardhana Bank opens branch in Welimada

Oct. 20, 2014 (LBT) - DFCC Vardhana Bank (DVB), Sri Lanka’s fastest growing commercial bank expands its network with its most recent branch opening in Welimada, a town in the Badulla district. The ceremonial opening of the new DVB branch took place on Thursday October 16 and was attended by ... Read more

Business | Hits: 124 | Comments

SportUnleash attracts Israel, Nigeria, S. Africa

Oct. 19, 2014 (LBT) - SportUnleash, the scientific identification system, has secured deals with Israel, Nigeria and South Africa, it was stated at a media briefing recently. In Addition over 15 countries are also interested in the new SportUnleash, the brainchild of Talavou Alailima, an eminent personality widely hailed as an ... Read more

Business | Hits: 353 | Comments

Seminar on monetary policy program tomorrow

Oct. 19, 2014 (LBT) - The Ceylon Chamber of Commerce together with the Central Bank of Sri Lanka will conduct a seminar on ‘Sri Lanka’s Monetary Policy Program’, which would be addressed by Dr Nandalal Weerasinghe, the Deputy Governor of the Central Bank. The event will take place on October 20, ... Read more

Business | Hits: 321 | Comments

DPJ main piling contractor for Col. 2 TATA Project

Oct. 19, 2014 (LBT) - D P Jayasinghe Piling Company (PVT) LTD, a leading entity in the construction industry was selected as the main piling contractor for the TATA funded Slave Island Mixed Development Project carried out by TATA Housing Development Company Pvt Ltd. This is the first time that ... Read more

Business | Hits: 309 | Comments

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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: 471 | 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: 545 | Comments

Disruption, ‘Intrapreneurialism’ and meeting customer’s needs

Sep. 07, 2014 (LBT) - In my conversations with businesses it has become clear that when it comes to customer experience, they really do understand just how fully things have changed. They realise that the old methods of reaching the customer are no longer good enough; that the customer demands more than ever before and wants the brand experience to be delivered on their terms and not the brand’s. They know they need to build real relationships with customers, connecting with them on an emotional level, and that loyalty has never been harder to win or keep. Despite this awareness, which comes from businesses of all shapes and sizes, it is the start-up community that have found it easiest to adapt to the needs of the modern consumer. Often, established companies have struggled with the scale of change required and have instead opted for a half-way house; setting up the odd Facebook page for example, or encouraging sales reps to use LinkedIn and Twitter. While there are of course notable exceptions, the fact is that many businesses are failing to make the wholesale transformation required to prosper in today’s consumer-driven market. The reason is simple: legacy. The more established the company, ... Read more

Opinions | Hits: 1112 | Comments

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Week commences in red

Oct. 07, 2014 (LBT) - The indices closed with price losses as a result of negative price movements in counters such as John Keells holdings, Hayleys and Carson Cumberbatch while the turnover crossed the Rs 1.7 Bn mark. High net worth and institutional interest was observed in Ceylon Tobacco Company, Dialog Axiata, Nestle Lanka, John Keells Holdings and Hatton National Bank. Retail interest was witnessed in PCH Holdings, PC Pharma and Browns Investments. Furthermore, mixed interest was witnessed in Keells Hotels, Richard Pieris and Lanka IOC. Foreigners remained active closing as net sellers. Banks, Finance and Insurance sector was the top contributor to the market turnover (due to Citizens Development Business Finance) whilst the sector index rose by 0.35%. The share price ... Read more

Movement | Business Editor | Hits: 610 | Comments

Week ends with gains

Oct. 03, 2014 (LBT) - The indices closed in green due to positive price movements in counters such as Commercial Bank, DFCC Bank and Dialog Axiata while the market turnover crossed the Rs 4.3 Bn mark. High net worth and institutional interest was observed in Pan Asia Bank, John Keells Holdings, Hayleys, Dialog Axiata, Ceylon Tobacco Company and Asiri Hospital Holdings as block trades accounting for 46% of the turnover. Retail interest was witnessed in Lanka Century Investments while mixed interest was seen in Hatton National Bank and Tokyo Cement. ASPI and S&P SL20 gained by 2.26% and 3.66% respectively for the week ended. Banks, Finance and Insurance sector was the top contributor to the market turnover (due to Sampath Bank and Hatton ... Read more

Movement | Business Editor | Hits: 511 | Comments

Indices in green

Oct. 02, 2014 (LBT) - The indices closed with price gains due to John Keells Holdings, DFCC Bank and Commercial Leasing & Finance with turnover crossing the Rs 2.4 Bn mark. High net worth and institutional interest was witnessed in Arpico Finance, Hatton National Bank (voting and nonvoting) and People’s Leasing & Finance. Retail interest was seen in Citizens Development Business Finance and Browns Investments. Meanwhile, mixed interest was seen in Access Engineering. Foreigners closed as net buyers due to buying in John Keells Holdings and Access Engineering. Banks, Finance and Insurance sector was the top contributor to the market turnover (due to Arpico Finance and Hatton National Bank) whilst the sector index rose by 1.66%. The share price of Arpico Finance increased Rs ... Read more

Movement | Business Editor | Hits: 357 | Comments

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Sports

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

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

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Politics

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

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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