Sri Lankan stocks ended little changed on Wednesday as gains in mid-cap shares were offset by profit-taking in some large-caps amid heavy retail participation on positive sentiment after the government reduced energy prices. The main stock index edged up 0.04 percent, or 3.10 points, to 7,179.20. The bourse hit its highest close since June 10, 2011 of 7,218.68 on Friday.
Policyholders of Ceylinco Life living in Colombo and the suburbs have been offered a free membership to 24-hour, on-call emergency medical services from Falck, the largest ambulance provider in the world. The one-year membership is valid for policyholders but can be extended to cover family members on payment of an additional fee, the company said.
The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) recently paid tribute to one of its founding members, Mr. Sinnappu Ramasamy who has been a member since the Institute was founded in 1959.
The Central Bank of Sri Lanka has released its 37th volume of the data folder, Sri Lanka Socio-Economic Data 2014. This easy- to- carry data folder contains 87 statistical tables and 12 charts covering the latest information on socio economic conditions, human resources, national accounts, agriculture, industry, economic and social infrastructure, prices and wages, external trade and tourism, external finance, fiscal sector and financial sector. Key socio economic data for the SAARC and South East Asian regions are also available in the data folder.
The Spikes Asia Festival of Creativity, which takes place next week in Singapore, has announced that 4,984 entries have been received into the 2014 awards. “The entries received into Spikes Asia always act as a good indication of regional industry trends and the direction it’s heading in, which is why it’s interesting to see that the categories showing the strongest growth are Digital, which has seen entries rise by 68%, and Mobile, where entries have grown by 48%. On a country level, it’s fantastic that Sri Lanka has almost doubled its entries, whilst Malaysia, Pakistan and Chinese Taipei have also seen substantial increases. It’s going to be an exciting few days as we start to see the best in APAC’s creative communications rising to the top,” says Terry Savage, Chairman, Lions Festivals.
Risk management challenges and opportunities for large corporations and conglomerates will come under focus at a seminar on ‘Making Risks Work for You’ organized by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) which will be held on 24th September 2014.
According to the most recent IDC (International Data Corporation) PC market share chart for the second quarter of 2014, ASUS was identified as one of the top five PC vendors worldwide. The IT magnate came in at fifth place, with an increase from 5.9 percent market share in Q2 last year to a 6.2% this year. The company has maintained continued growth in PC shipments in spite of a 1.7% decrease in worldwide PC shipments including both desktop and notebook units in the second quarter of 2014.
At IFA, a global trade show for consumer electronics and home appliances, Intel launched the new Intel® Core™ M processor, which will power new 2 in 1 devices from a variety of manufacturers including: Acer*, ASUS*, Dell*, HP*, Lenovo* and Toshiba*. Delivering the optimal blend of mobility and performance, Intel's new processor was purpose-built for amazing performance in the thinnest, fanless ultra-mobile devices.
Sri Lankan stocks fell on Monday from a more than three-year closing high hit in the pervious session, as investors booked profits mainly in diversified and financial stocks in an overbought market, while foreign investors sold risky assets. The main stock index fell 0.61 percent, or 43.71 points, to 7,174.97, slipping from its highest close since June 10, 2011 hit on Friday.
CIC Holdings, the sole agent of PediaSure in Sri Lanka is now offering the world-famous nutritional supplement for children in new tin packaging. Only CIC is licensed to bring the original PediaSure product to Sri Lanka, and now imports it directly from the Netherlands and Singapore. Designed to provide growing children with nutritional support, PediaSure is a high quality supplement that gives children all the daily nourishment they need.
JAT Holdiings (Pvt) Ltd. The total timber coating solutions provider, who are the pioneers in the timber coatings industry in Sri Lanka, Bangladesh and Maldives, received a prestigious National Award for Manufacturing at the recently concluded Ceylon National Chamber of Industries Awards Ceremony.
The Association of Consulting Engineers, Sri Lanka (ACESL) is to conduct Two 2-Day FIDIC Contracts Workshops, the first on Practical Use of FIDIC Conditions of Contracts providing essential contractual know-how for working on today’s international projects and the second on Management of Claims, Dispute Resolution, Dispute Boards and Adjudication under FIDIC Contracts for the construction industry on 22nd to 25th September 2014 at the Waters Edge, Battaramulla.
In a move to create much-needed IT/BPM capacity required for the expansion of the industry in Sri Lanka, which is now poised for accelerated growth, SLASSCOM Vice Chairman Mano Sekaram is advocating the creation of regional second tier cities to bring about inclusive growth in the country.
The net unrealized profits of the EPF share portfolio passed the Rs 10 billion mark on 11th September 2014. In addition, realized capital gains and dividends have amounted to Rs 3.4 billion so far, this year. This milestone was particularly significant since during the first half of 2014, there were allegations levelled at the EPF that its share portfolio had suffered large unrealized losses during the period spanning early 2012 to early 2014. However, as always maintained by the EPF, such claims have now been proved baseless, with the unrealized losses turning into substantial unrealized gains in the second half of this year.
One of Sri Lanka’s iconic beverage brands, Elephant House Ginger Beer, known widely as EGB, partnered with Cinnamon Hotels & Resorts to be the official beverage sponsor for the Miss Universe China pre pageant tour of Sri Lanka. Quenching their thirst all through the tour with its refreshingly Sri Lankan flavor, EGB won the hearts of the Chinese contingent which included the event’s 16 finalists.
Oman Air is celebrating unprecedented success across a range of international awards and magazine ‘best of…’ lists over the course of 2014. The acclaim has recognised the high quality of Oman Air’s work in every area of its operations and provides a perfect foundation for the next phase of the airline’s ambitious expansion programme, which will start later this year.
Eden Resort & Spa and Green Paradise both walked away with National Level Service Sector awards at the CNCI Achiever of Industrial & Service Excellence 2014.
Eden won a Merit award for National Level (Service Sector) Extra Large category, while Green Paradise earned a Merit award for National Level (Service Sector) Small Category.
Digital technology leader, Samsung Electronics recentlyshifted its Customer Contact Centre to a newly refurbished office at the World Trade Centre. The office’s opening ceremony was attended by the senior management and staff of Samsung Electronics including, H.K. Chang, Managing Director, Samsung Electronics India - Sri Lanka Branch Office, Omer A. Fareed - CEO, Amazai Group and Samsung Electronics management team and the Envoy facility team.
Orthocare, Sri Lanka’s leading orthopedic supplies company recently introduced a novel concept called ‘Navasti’ which brings total health care under one roof, for all patients with spine and limb ailments. Patients with spine and limb ailments such as back pain and knee pain generally have long periods of illness at times. This often requires different modalities of treatment with different health care persons to work as a team to provide the best possible cure.
Colombo has been undergoing urban regeneration under the Urban Development Authority-headed Metro Colombo Urban Development Project over the past five years. United Tractors and Equipment (UTE) recently lent their support to this endeavor, providing Construction & Paving equipment to help overhaul Colombo's road network. A CAT PM 200 Cold planer and 4 Cat 428F Backhoe Loaders were ceremonially handed over to the Mayor of Colombo, Mohomed Muzammil by the Secretary of Defence, Gotabaya Rajapakse at a special event. This was part of some Rs.450Mn worth of equipment and vehicles supplied for the Metro Colombo Urban Development project which comes under the Colombo Municipal Council.
Mihin Lanka recently hosted a Commercial Conference and an evening of cocktails for Agents at the Galadari, Colombo. Both events were graced by the Chairman of Mihin Lanka, Nishantha Ranatunga, and the Senior Mangement Team. The Commercial Conference saw the participation of all Overseas GSA’s, Country Managers of Mihin Lanka and the Commercial and Sales teams of Mihin Lanka in, Colombo.
A ceremony was held at the Corporate Office of Amãna Bank with the attendance of key officials from the Bank and Vidullanka PLC in order mark the successful completion and commissioning of the Lower Kotmale Hydro Power Plantproject. Having connected to the national grid, the 4 MW mini hydro power plant located at Nuwareliya has a capacity of generating 13.1GWh of energy annually and is estimated to reduce the country’s carbon emission by 8,225 tons.
EZY Distribution Private Limited, Sri Lanka’s premier IT distribution company (part of EZY group of Companies in Sri Lanka) together with Transcend Inc. Taiwan , have established the brand “Transcend” as the leading product for memory and memory related products in the country
Asian Alliance Insurance PLC relocated its General Insurance Division on the 15th of September 2014 from the current premises in Navam Mawatha, in a bid to better serve its customers. The new office is now located at No.65, Ward Place, Colombo 7. Mr. Ashok Pathirage - the Chairman of the Softlogic Group graced the occasion as the Chief Guest whilst Mr. A. J. M. Mussammil, Honorable Mayor of Colombo was the Guest of Honor. Members of the Asian Alliance Board including Mr. Iftikar Ahamed – Managing Director and Mr. Ramal Jasinghe – Director/CEO along with the senior management team of the company were among the distinguished gathering who were present to witness this landmark event.
Sri Lanka’s leading health care provider, Lanka Hospitals, in partnership with the Embassy of China and a coalition of Chinese enterprises based in Sri Lanka, will be gifting 1,000 free cataract surgeries to cataract patients in Sri Lanka. This extraordinary and generous undertaking coincides with the visit of the Chinese President to Sri Lanka from 16th to 17th September 2014, on an invitation by His Excellency President Mahinda Rajapaksa, marking the first such visit by a Head of State of China to Sri Lanka in 28 years. Registrations for the cataract surgeries closed on 12th September and the surgeries are being carried out from the 13th onwards over a period of one week, offering a golden opportunity for under privileged cataract patients to be treated at a world-class medical facility like Lanka Hospitals.
Already recognized as a leading proponent of environmental sustainability, Bodyline (Pvt) Ltd; one of Sri Lanka’s best known apparel companies marked World Environment Day by announcing the international CarbonNeutral® certification for one of its factories.
Phoenix Ventures Limited has come on board as a Gold Sponsor to boost the 35th National Conference of Chartered Accountants organised by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka). The conference which will be held from 23rd to 25th October 2014 is one of the largest corporate events in the country which sees a massive participation of over 1200 chartered accountants and business leaders annually. This year’s conference will revolve around the thought provoking theme “Rethink to Revive”.
Team Exide’s riders shone at the Gajaba Supercross 2014 held recently. Exide Rider, Shehan C. Adhikari won the Overall Rider Championship award, while Exide’s Riders also won the Team Championship award as well.
Seylan Bank recently conducted a week-long intensive training programme for the staff of Asia Express Exchange based in Oman. Among the topics covered during the comprehensive training were important aspects of banking, cash handling techniques, remittance operations, customer care and service. Added to this were also areas like such as KYC (know your customer) norms to be followed, AML (anti-money laundering) compliance / guidelines, dealing with different local and foreign currency notes and detecting fake currency notes.
A bold, vibrant new brand at Odel, for the young and young at heart made its scintillating catwalk debut at a colourful fashion show in Colombo yesterday (Saturday, 13th September 2014). The atrium lobby of Odel’s flagship store at Alexandra Place was packed to capacity as ‘B Iconic’ – a collection characterised by bold slogans, neon colours and effervescent prints, emerged in four motifs that capture the different moods of the new brand: ‘B Brave’ ‘B Playful’ ‘B Wild’ and ‘B Stylish.’
As Sri Lanka’s IT exports topped $719 Mn, a business journalist from world’s fourth largest selling newspaper was taken by surprise on 05 September of the country’s inroads into one of the most demanding niche software markets in the world. “I am really surprised of your ability in our platforms. This is news!” exclaimed Yuichi Kiriyama, business journalist of Japanese language Mainichi Shimbun, world’s fourth largest selling newspaper on 05 September in Colombo.
The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) created an all-time new record this year by inducting 297 new Associate Members (ACAs) at the 2014 Convocation, giving the country’s prestigious accounting profession a renewed boost. The convocation which was held under the patronage of Hon. Hemal Gunasekera, Deputy Minister of Cooperatives & Internal Trade and Mr. Ranil Wijegunawardane, Managing Director / Chief Executive Officer of Colombo Dockyard PLC, at the BMICH, Colombo also saw 149 existing Associate Members being conferred the distinguished Fellowship status (FCAs) elevating them to the highest stratum in their professional careers.
Nature’s Secrets is Sri Lanka’s No.1 herbal cosmetics brand. These world class cosmetics are manufactured to internationally recognised GMP & ISO quality standards at an unparalleled production facility that comprises of Sri Lanka’s first privately owned Plant Research Centre and Sri Lanka’s largest privately owned medicinal plant garden.
Subsequent to the end of nominations for e-Swabhimani 2014 steps are being taken to have the entries evaluated by high-profile experts, says the ICT Agency of Sri Lanka (ICTA). About 250 nominations were received for e-Swabhimani 2014 – the national award for the best e-content and innovative ICT applications, says the ICT Agency of Sri Lanka (ICTA).
The Central Bank of Sri Lanka, in collaboration with the South East Asian Central Banks (SEACEN), is hosting the 5th Annual SEACEN Deputy Governors Financial Stability Forum and the 5th SEACEN High Level Seminar for Deputy Governors during the period from 11th – 12th September 2014.
The third edition of the HSBC Colombo Fashion Week Resort Show will be held from 1 to 4 October in Negombo. CFW has proved to be the backbone of the Sri Lankan fashion design industry, celebrating its 11th year with the launch of its third annual show focusing on a collection of resort wear outfits. This much anticipated seasonal fashion showcase that has been well received by the fashion public in both Sri Lanka and the region; is to take place at Jetwing Blue and Jetwing Beach. The unique annual Resort Show will also focus on a variety of new features this year.
Mobitel Business Solutions (MBS), the enterprise solutions division of Mobitel, recently joined hands with the premium tea brand Dilmah to set up Mobitel’s ‘One’ fuel Card to increase administrative efficiency, speed and ease at Dilmah. The ‘One’ Fuel Card stores a value on the card and acts as a direct replacement for the manual fuel allowance management system that is accepted and practiced in many large corporate organisations in the country.
CIC Holdings PLC recently provided grant and logistical support for the AO SEC seminar which focused on basic fracture management for nurses in the operating room. Jointly organized by the AO Foundation Socio Economic Committee, the Sri Lanka Orthopaedic Association and CIC Holdings PLC, the two-day event brought together medical experts and healthcare professionals from across Sri Lanka.
With 20 foreign university affiliations from UK, Australia, U.S.A, and Canada, SLIIT, the premier degree awarding institute, together with their foreign partners, will host the annual SLIIT Partner University Day on the 26th of September at the SLIIT campus in Malabe from 8.30am to 5.00pm. The Partner University day will be held for current and prospective students along with their parents to witness and understand SLIIT's foreign academic programmes, foreign university transfer options, scholarships and facilities geared to bring out the best in each student.
Hemas Hospitals-Thalawathugoda, the third and latest addition to the Hemas Hospital chain, now owns a fully-fledged radiology department with the state-of-the-art equipment to better serve its purpose “Expert care, close at hand”. With this facility on board, customers of Hemas Hospitals-Thalawathugoda can, now, look forward to obtaining a range of radiology facilities without hassle for a nominal free.
Leo Burnett Solutions Inc., (LBSI) the local office of the global advertising network Leo Burnett Worldwide, recently completed the second Leo Burnett Masterclass programme which is designed to provide young undergraduates with an opportunity to gain exposure into the marketing communications industry.
SriLankan Airlines, the national carrier of Sri Lanka introduced attractive fares and other incentives for citizens of the Maldives who aspire to make that once in a lifetime spiritual journey in September to Mecca, the holy city for millions of adherents of the Islamic faith all over the world.
Emirates and Jetstar have announced the expansion of their codeshare and frequent flyer relationship, to 30 routes across the Asia Pacific region providing more choice to Emirates customers. From 26 October 2014*, Emirates will grow its codeshare on Jetstar to include Jetstar Airways services between Melbourne and Ayers Rock (Uluru), Christchurch to Wellington in New Zealand and three new destinations in south-east Asia from Jetstar Asia’s hub in Singapore.
The Central Bank of Sri Lanka (CBSL) and the People’s Bank of China (PBOC) entered into a bilateral Currency Swap Agreement on 16th September 2014 which provides an opportunity to exchange Sri Lanka’s National Currency (LKR) with the Chinese National Currency (CNY) for trade related activities and other purposes agreed upon by both parties.
Chairman of Noritake Co. Ltd Japan Hitoshi Tanemura recently visited Sri Lanka in the company of Director / Managing Executive Officer of Noritake Co. Ltd Japan Kozo Kato. During this brief visit to Colombo, Mr. Tanemura met the company’s Colombo-based officials, including Deputy Chairman and Managing Director Noritake Lanka Porcelain Pvt Ltd (NLPL) Yoshinari Shimaya and top management officials and reviewed the progress and performance made by Noritake in Sri Lanka.
Huawei launched the Ascend Mate7 at Internationale Funkausstellung Berlin (IFA) 2014, featuring a big 6-inch screen with FHD display for enhanced entertainment viewing, a slimmer 7.9mm body for increased comfort, a more powerful octa-core chipset for superior performance, and a longer-lasting 4100 mAh battery. With new single-touch fingerprint technology and EMUI 3.0, Ascend Mate7 dials up the mobile experience to make it easier for users to live life to the fullest. Ascend Mate7 is the latest big-screen smartphone from Huawei as it showcased its big ambitions as the number three smartphone vendor in the world.
Three Sri Lankans have won themselves trackside seats, air travel and accommodation to be in the thick of the action at the 2014 Singapore night races, courtesy the country’s leading tyre brand CEAT. Ransiri Fernando, Jeremy McShane and Heshani Peris are the lucky winners of this amazing dream opportunity offered by CEAT via a promotion conducted on EFM in August, for CEAT radial tyres.
The new edition of The Malalasekera Dictionary was launched at the Colombo International Book Fair which was launched recently. This Sixth Edition, has been extensively revised and greatly expanded by a panel of distinguished scholars - Professor Kusuma Karunaratne, Dr. Sadagomi Coperahewa and Dr. Lakshmi de Silva to meet the needs of a technologically advanced and computer literate public and is in par with all international dictionaries.
Elpitiya Plantations PLC will pay tribute to the valuable contribution of its retired workers of Dunsinane, Sheen, Fernlands, Meddecombra, New Peacock and Nayapane Estates by opening an elders’ home for them at Meddecombra Estate, complete with all amenities and built at a cost of over Rs 25 million. The elders’ home is a project undertaken by Elpitiya Plantations together with Fondation Abbe Pierre (a French donor agency) and facilitated by Programmes d'Aide et de Développement destinés aux Enfants du Monde (PADEM) of France.
People’s Leasing & Finance PLC secured two gold awards at the CNCI Achiever of Industrial Excellence Awards - 2014. The first gold award was clinched by the company for national level ‘Extra Large Category’ service excellence. With this recognition PLC was included in the 10 elite CNCI companies of the year and thus clinched a second gold award.
The 24th edition of FACETS Sri Lanka 2014, the international gem and jewellery exhibition organised by the Sri Lanka Gem and Jewellery Association (SLGJA) ended in a high note. The event was very successful with over 150 stall holders including individual exhibitor pavilions from The National Gem and Jewellery Authority (NGJA) and an SME pavilion from the Sri Lanka Export Development Board (EDB).
SriLankan Airlines, the national carrier of Sri Lanka, marked its 35th anniversary with a blood donation programme themed “Donate blood, save a life” organized by the Airline’s Medical Unit, recently. Held at the Airlines’ Medical Centre, Katunayake, the annual blood donation campaign was a great success with over one hundred employees taking part in it, despite their busy schedules.
Holcim (Lanka) Ltd., a leading cement manufacturer in Sri Lanka, announced that it will be supporting the United Nations Human Settlements Programme (UN-Habitat) with its housing programme for conflict affected families in the Northern Province of Sri Lanka. The programme, which focuses primarily on improving construction skills of housing beneficiaries and local artisans, will span a period of 6-8 months. Implemented through Holcim’s Corporate Social Responsibility programme, this initiative is valued at more than 2 million Sri Lankan rupees.