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DFCC Vardhana Bank announced the appointment of Marina Tharmaratnam as an Independent Non-Executive Director of the Bank’s Board. The appointment came into effect on the 25th of May 2012 and has received the approval of the Central Bank of Sri Lanka.
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Established in June 2010 in a typical village environment, Sukhee Lanka (Pvt) Ltd. envisioned offering trusted quality products made from 100% herbal raw materials for hair, skin & health care. The company is presently re-launching their flagship brand, the ‘Sukhee’ Hair Oil encased in an attractive cylindrical cardboard pack.
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Hemas Group recorded a Rs. 1.3 Bn profit after tax whilst the Group revenue reached Rs. 21.4 Bn recording a 18.5% growth. Revenue growth was driven by Healthcare, FMCG and Power sectors. While earnings for the first half were down by 17.2%, performance bounced back strongly during the third and fourth quarters to close the year with earnings of Rs. 1,209 Mn.
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Richard Pieris Group (RPC) is one of the largest and most diversified Groups in the country with history and tradition of 80 years has reported outstanding financial performance during 2011/12 reporting a record Turnover of Rs 31.5bn which is a growth of 15.6% during the period under review. The retail sector contributed 44% towards the Group Turnover with another outstanding year.
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Dell recently announced a portfolio of blade, rack and tower PowerEdge servers optimized for use in demanding enterprise environments. As the only one of the top five server vendors to grow server revenues in Q4 2011, Dell continues to innovate to deliver features that are industry firsts and make the PowerEdge 12th generation servers the company’s highest performing, most manageable servers ever.
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Sri Lanka has once again been featured as one of the leading destinations for leisure travellers in the United Kingdom by Emirates, the award-winning Dubai-based international airline.
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SriLankan Airlines acquired a new Airbus A320 last month, expanding its fleet to 23 aircraft.
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The public should be assured that TFC would not be affected by the recent TFC-NSB transaction, which is strictly a private affair between the owners of the shares and NSB, and has no impact on TFC or its depositors.
The Finance Company PLC is a 72 year old company and holds the prestige of being one of the pioneering non bank finance organizations in the country. The firm has been known to have led the market in many aspects with a range of innovative business avenues such as real estate and super speed vehicle loans.
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ODEL has posted sales of Rs 3.8 billion and profit before tax of Rs 264 million for the 12 months ending 31st March 2012, a year of significant expansion-related capital expenditure for Sri Lanka’s upmarket fashion retail brand.
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Emirates is fast approaching the tripling of its flights to Spain, which includes the launch of a daily service to Barcelona from 3 July.
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Anything.lk (www.anything.lk) is a company that lives and breathes evolution. For a company that isn’t even a year old, the changes it has gone through are immense.
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SLIIT and Exetel collaborate to introduce Calliope, an Artificial Intelligence-based helpdesk customer support system developed for commercial application as a customer service solution for Exetel Company, an internet service provider in Australia.
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DFCC Bank announced the appointment of Trevine Fernandopulle as the Bank’s Executive Vice President and Group Chief Risk Officer.
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With remarkable growth levels in its Asset Base, Deposit Base and Profit after Tax, Commercial Credit PLC proudly declared its provisional financial statements for the recently concluded financial year 2011/2012.
The Net Interest Income claimed a growth of 153% in the financial year under consideration from Rs. 0.7 billion in the financial year 2010/2011 to Rs. 1.8 billion. Profit-before-Tax recorded an exceptional growth of 320% from Rs. 0.3 billion in the financial year 2010/2011 to stand at Rs. 1.2 billion.
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The Commercial Bank of Ceylon has opened its latest branch in Thalawakele, extending the service of the bank rated Sri Lanka’s best to a major economic hub in the country’s plantation sector.
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Kelani Saviya 5th intake will be held on May 19 at the Faculty of Engineering, University of Peradeniya, with the participation of Prof SBS Abayakoon Vice Chancellor University of Peradeniya together with Dean Faculty of Engineering Prof. S.B. Weerakoon, Dr,A.Athpothraja Head Electrical and Electronic Engineering Dept; ,Prof .Manjula Fernando Course Director Kelani Saviya and Mahinda Saranapala CEO Kelani Cables, Anil Munasinghe GM,(Marketing),Upul Mahanama GM(Operation) and Jayantha Wijesinghe, Co-initiator and Course Coordinator Kelani Saviya.
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Fusion Education Awards Ceremony (FEAC) will be held on 18th May 2012 at Maharagama Youth Centre successfully for the third consecutive year. About 1200 students together with parents from 18 districts of the country including North and East, will take part to celebrate the hard work and success.
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Sri Lanka’s leading menswear specialist, Hameedia, today prides itself in dressing third generation grooms. From the simple tailoring establishment which opened its doors in 1949, Hameedia has evolved over the years to occupy top slot as the country’s most sought after grooming specialist.
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Tokyo Cement recently conducted an interactive seminar titled ‘Bonding for the future’ for the students of the Department of Civil Engineering at the University of Peradeniya.
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A new vista of creative choice has opened up for buyers of stock photography in Sri Lanka, following the appointment of Papyrus Papers (Pvt) Ltd., as the authorised distributor for Glow Images and Photosindia.
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The Hilton Colombo adds an array of the popular baked dessert, the Strudel to their cuisine this May. The delectable desserts are set to be prepared by the award winning Austrian Guest Chef, Michael Bernhard.
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The Alliance Francaise de Kotte presents ‘Nostalgie02’, an exhibition of black and white photographs by Kumar de Silva, at the Harold Peries Gallery of the Lionel Wendt Arts Centre, Colombo on Saturday 30 June and Sunday 01 July 2012.
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Holders of UnionPay credit and debit cards can now withdraw money from more than 500 ATM terminals in Sri Lanka of the Commercial Bank of Ceylon, under a partnership between the Bank and China UnionPay. This partnership between the country’s largest private bank and one of the world’s largest payment card schemes, will facilitate visits to Sri Lanka by tourists and business people from China, the Bank said.
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The Sri Lanka Association of Software and Services Companies (SLASSCOM) together with ACCA (the Association of Chartered Certified Accountants), the global body for professional accountants organized an Executive Briefing Series on Finance Transformation at the Ivy Room Cinnamon Grand, Colombo today.
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Emirates has entered another big hitting sponsorship in Italy by supporting the Internazionali BNL d'Italia (Italian Open) in a deal which runs until 2014.
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The Boat Show Sri Lanka 2012 is set to bring in new dimensions of Boating activity to the leisure and adventure hungry Lankan market by way of modern boating technologies, equipments and activities that are part and parcel of the boating industry worldwide.
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Marking the celebrations for their 25th anniversary year, Hilton Colombo brings back the unforgettable competition, Sing for Your Supper to its hotel. The hotel’s rendition of the Karaoke Idol Competition is set to seek out the best talent and charisma onto their stage this year.
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Citizens Development Business Finance PLC. (CDB) recently spread its wings to Eheliyagoda, Kandana, Marawila and Ragama thus taking its product offering to a greater public and parallely consolidating its island wide presence.
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The 8th Raigam Tele’es will be held at the Water’s Edge on the evening of 11th May 2012. Eight years is a long time, for its organizers - a long experience, for award recipients - a big hope! To hold an award ceremony for at the highest level for eight consecutive years is clear victory over many challenges. While sharing that happiness and strength with the media and general public, we gladly accept the onerous challenge of organizing the national tele-awards ceremony to encompass the whole of the tele-media.
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Subodh Dakwale assumed duties on Friday 04 May 2012 as the new Managing Director of Lanka IOC.
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Saudi Arabia will receive a 12 percent boost in Emirates services this year, as the airline ramps up its commitment to the Kingdom.
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Athauallah Arangam, Akkaraipattu played host to the first Etisalat Android Forum to be held outside of Colombo recently, as the telco took the innovative idea to the eastern province.
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“April Blooms 2012”, the annual summer flower show organized by the Nuwara-Eliya Municipal Council this year enjoyed the patronage of Sri Lanka’s leading florists Lassana Flora.
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Sri Lanka’s first-ever interior paint with Teflon® Surface Protector has been launched in the country by the India-headquartered coatings giant Asian Paints, setting a new benchmark in stain-resistance and durability for interior paints in the local market.
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“The multitude of Sinhala and Tamil blogs available today shows how technology provokes innovation”, says ICT Agency of Sri Lanka (ICTA). ICTA sources said so referring to the launch of a number of innovations for users of ICT in Sinhala and Tamil that takes place today (May 02, 2012).
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 Continuing the sustained growth momentum showcased by Citizens Development Business Finance PLC (CDB) in the past, the Company recorded exceptional all-round financial performance during FY2011/12 as per the interim results released to the Colombo Stock Exchange (CSE). Profit-after-tax is posted at an exemplary Rs. 630 Mn, reflecting a growth of 19% compared to the corresponding financial year. Core business bottom-line results for the year and Q4 excluding mark to market gains showed remarkable growth figures of 158% and 540% respectively. The top line grew by 29% surpassing the Rs. 2.8 Bn mark. CDB's net interest income gained 53% to Rs.1,248 Mn during the period under review. Earnings per share (EPS) are recorded at an impressive Rs.13.10.
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Cantaloupe Aqua, a Private Hotel and Beach Club announced that it has received a TripAdvisor® Certificate of Excellence award. The accolade, which honours hospitality excellence, is given only to establishments that consistently achieve outstanding traveller reviews on TripAdvisor, and is extended to qualifying businesses worldwide.
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Intel Sri Lanka signed a Memorandum of Understanding (MoU) with the Ministry of Education today in support of the Government’s 1000 Schools Project. Under this MoU, Intel® Teach, a professional development program that enables educators to effectively integrate Information and Communication Technology (ICT) into their lessons to promote problem solving, critical thinking and collaboration skills among their students will be introduced to enhance the teaching experience across these schools.
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Glaxo SmithKline Consumer Healthcare Engineering Manager Chanaka Wanniarachchi handing over a baby weighing scale to Hon Maithripala Sirisena, Minister of Health and Mrs. Devika Kodithuwakku, Secretary of the Sri Lanka Midwives Association at the Annual Midwives Day 2012 held at the New Town Hall on 9th May 2012 . 169 scales valued at over LKR 1.2 million were donated by GSK to the Midwives Association to be used for the benefit of patients in under-privileged areas of the country. |
Polycom, Inc. (Nasdaq: PLCM), the global leader in open standards-based unified communications, today announced its partnership with Redington (India) Ltd, a leading integrated supply chain solution provider,to deliver Polycom’s leading unified communications and video collaboration solutions to the Sri Lankan market. Under this partnership, Redington will act as a distributor for Polycom’s RealPresence™video collaboration solutions in Sri Lanka, extending Polycom’s reach and delivering on its strategy to offer a comprehensive suite of business solutions across a number of sectors from enterprise to healthcare, education, government and manufacturing. Redington also acts a distributor for Polycom in India.
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As IBM (NYSE: IBM) marks its 50 year presence in Sri Lanka this year, the global technology giant announced its partnership with Hatton National Bank (HNB), a leading private sector bank in Sri Lanka. IBM will support HNB with supply and installation of the SmartVista solution, provided by BPC Banking Technologies Group, to help HNB scale up their operations and minimize service disruptions, providing the ability to launch new products, streamline revenue streams and enhance overall customer experience.
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Expolanka Holdings PLC sustained its consolidated NPAT for the FY 2011/12 at Rs. 1.23 Bn, with a consolidated NPBT at Rs. 1.68 Bn. The Q4 recorded a YOY growth of 21% in Top Line, 33% growth in Gross Profit and 22% growth in Profit-Before-Tax.
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The Commercial Bank of Ceylon recently conducted a seminar on ‘The recent economic developments and their challenges to the Sri Lankan economy’ for the Bank’s key customers in the Uva Sabaragamuwa Region.
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Signal, the oral care expert of Sri Lanka, who pioneered initiatives to inculcate hygienic oral care habits among Sri Lankans for 5 decades has once again come forward to reiterate their commitment to protect the world famous Sri Lankan smile for the future.
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 SriLankan Airlines first quarter (Jan-March) punctuality record reveals an impressive high average, exceeding the airline’s punctuality benchmarks for all flights departing Colombo and destinations in the entire network. The punctuality average maintained for flights departing Colombo within 15 minutes of the scheduled time has been 89 per cent, surpassing the airline’s benchmark of 85 per cent with the month of March achieving a percentage as high as 92. Punctuality for flights departing Colombo within 3 minutes of the scheduled time is 73 per cent, exceeding again, the airline’s benchmark of 70 per cent.
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Phoenix Industries Limited announced their appointment as the sole licensee in Sri Lanka to manufacture the world renowned FlowGuard potable water distribution systems, manufactured by Lubrizol of USA, the world leader of CPVC [Chlorinated Poly-Vinyl Chloride] pipe and fittings, who first invented it way back in 1959 (Formerly known as B F Goodrich).
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Sri Lanka’s largest private Bank, the Commercial Bank of Ceylon has opened its seventh Agriculture & Micro Finance Unit (AMFU), stepping up its support to farmers and micro level entrepreneurs.
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Liyanadura Pipunika Vimanthi Silva and Liyanadura Nipun Kavishka Silva from De mazenod College, Sri Lanka were winners of a team second award in the computer science category, winning US$400 for each team member from the IEEE Computer Society for their project entitled ‘NP System’ – a computer program for blind and visually impaired people at this year’s Intel International Science and Engineering Fair, a program of Society for Science & the Public.
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Mrs. E.A. Dayawathie, a 56 year teacher from Matugama recently won the top prize of Rs. 01Mn in Seylan Bank’s (February) ‘Thagi Pita Thagi’ draw and thereby became the fourth millionaire to date.
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 Kumarika hosted an awards ceremony for the grand prize winners of the Nekathata Thegi competition on the 17th May at Hemas. The competition involved three games which incorporated elements from Kumarika's natural product line and was designed for the Avurudu season. The competition was conducted through facebook, where users had the option of playing one of three games – 'Rashi Chakraya' (designed according to the dawning of the new year, where participants had to place zodiac signs in the correct order), 'Questions of the hearth' (in which participants had to rapidly answer ten questions relating to Avurudu traditions) and 'Puzzled looks' (where a jigsaw puzzle had to be solved in record time).
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Expolanka Freight Ltd was recently awarded a CarbonNeutral® Certification by the Carbon Consulting Company thus making it Sri Lanka’s first-ever CarbonNeutral® Freight & Logistics Company, and, one of the first in Asia.
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 A new paradigm in subterranean termite protection for buildings has been introduced to Sri Lanka by the Hayleys Group to offer an eco-friendly long-term solution for a problem that affects an estimated one in five houses in the country. The unique product, branded ‘Novithor’ is the first pesticide-free, non-toxic termite protection system to become available in Sri Lanka. It builds granite-hard physical barriers that prevent termite infiltration for up to 50 years, a remarkable advancement to the existing chemical barrier products that offer protection for a tenth of the period through soil poisoning.
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The annual SAARCFINANCE Governors’ Symposium was held in Pokhara, Nepal on 16th May 2012, where the theme was “Food Inflation in the SAARC Region”. The principal objective of the symposium was to provide a forum for exchanging views and sharing experiences among the SAARC countries to assist policymakers to position themselves to contain food inflation at low and stable levels on a sustainable basis.
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A challenging operating environment notwithstanding, Sri Lanka’s Hayleys Group has posted its best annual earnings in the history of the 134 year old conglomerate, tripling net profit in FY 2011-12.
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Atlas in addition to its existing range of colour products introduces a blend of new colour products which consists of colour pencils & pastels, which also meet the international quality standards. The new range of colour pencils is named as ‘Atlas Colour Sparx and the new range of pastels are named ‘Neon’, ‘Square’ and ‘Jumbo’ accordingly. The Atlas Colour Sparx has been quality certified by ASTM (American Society for Testing & Materials)”.
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 TVS Lanka recently held their Annual Service Dealer Conference 2012 for their island wide dealer network at the Randiya Hotel in Koralawella, Moratuwa. With an attendance of over 350 service dealers covering all four corners of the island, representative from TVS and Sons TVS Motor Company Mr. Ranjith Fernando – Chairman United Motors and the Management Team of TVS Lanka attended the occasion.
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The Commercial Bank of Ceylon’s Islamic Banking Unit ‘Al Adalah’ has opened a dedicated service point for ‘Sharia Compliant Banking’ at its branch in Akkaraipattu in the Eastern Province to meet the growing demand for financial products based on Islamic principles.
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 Emirates airline launches the Skywards Future Artists Competition 2012 to find the world’s most aspiring artists. Winners of the competition will have their artwork featured on the Skywards 2013 membership cards, Emirates award-winning frequent flyer programme; giving artists an exciting opportunity to satisfy their creativity while connecting them with a global and esteemed platform of seven million Skywards members.
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Sri Lanka Telecom (SLT), the leading National Integrated Telecommunications Service Provider continued its financial trajectory, complemented with pragmatic operational initiatives, to deliver Q1 2012 results with a growth of 9% in revenue and 14% in operating profit. The Group is driving a visionary business strategy coupled with a pragmatic transformation plan, which is unequivocally reflected in these results and on-the-ground initiatives which the Group has continued to unwaveringly deliver according to the mandate it has mapped for growth. Depreciation of the Sri Lanka Rupee had a ripple effect on the Group's results due to the significant US dollar exposure in the Group's mobile subsidiary, Sri Lanka Telecom Mobitel.
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As it hit its 13th year in operations, a Sri Lankan national zonal industry venture has reported strong returns –again. “The Templeburg zone has become a model of Lankan investment based industry success and also shows the industrial zones under the Ministry of Industry and Commerce can harness promising investments generating strong returns with local capital” said Rishad Bathiudeen, Minister of Industry and Commerce of Sri Lanka.
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Commercial Credit PLC recently joined hands with the “Lester James Peries & Sumitra Peries Foundation” as Platinum Sponsor for its activities during 2012/13.
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Growth in interest income on loans and advances, complemented by gains in foreign exchange income continued to underpin financial performance at Commercial Bank of Ceylon PLC, enabling the country’s benchmark private bank to post strong results for the first quarter of 2012.
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Amana Takaful, the flag bearer of the Takaful concept in Sri Lanka that has established a strong market position, recently held its Annual Awards with a burst of colour. The gala event took place in Colombo and honoured the top performers in Sales and Operations for their exceptional efforts in year 2011 covering the areas of General, Life, Medical and the overseas operations of the Maldives.
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SKF, the leading designer and manufacturer of industrial and automotive engineered solutions in bearings, seals, lubrication, services and mechatronics hosted a customer event in Sri Lanka along with its national distributor Swedish Trading Company (Pvt.) Ltd. on May 11, 2012 aboard the Jetliner.
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The world’s leading coconut shell based activated carbon manufacturer and exporter, Haycarb PLC has sustained performance in the fourth quarter of 2011-12 despite challenging external conditions and rising production costs to end the year on a positive note.
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The Sri Lanka Institute of Packaging (SLIP), the key organisation representing the Sri Lankan packaging industry today announced the forthcoming ‘LANKAPACK 2012’ expo which will uncover vast potential of Sri Lanka’s packaging industry and parallely unveil the latest international products.
‘LANKAPACK’ was launched in 1982 and, rapidly grew over the years. This year’s exhibition will be held from 25 to 27 May 2012 at the BMICH in Colombo. It is endorsed by the Ministry of Industries & Commerce, the World Packaging Organisation, the Asian Packaging Federation and has attracted significant foreign participation. |
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 The Emirates Group has announced its 24th consecutive year of profit and companywide growth amidst unprecedented economic pressure and record high fuel prices.
Released in the Group’s 2011-12 Annual Report the company posted a AED 2.3 billion (US$ 629 million) net profit, with dnata marking its highest ever profit in 52 years of operation. Despite fundamental challenges, the Group’s revenue reached a record high, climbing to AED 67.4 billion (US$ 18.4 billion) an increase of 17.8 percent on last year’s results. The Group’s cash balance grew by 9.5 percent reaching a strong AED 17.6 billion (US$ 4.8 billion).
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 Nestlé Lanka, Sri Lanka’s largest private sector collector of fresh milk, announced that it has increased its local fresh milk collection by over 45% (YoY) during the period January to April 2012. With the local dairy industry registering a big increase in milk production across the country, Nestlé hasgrown its fresh milk collection accordingly during the first four months of 2012 to meet this considerable increase in supply.
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Hilton Colombo came alive with festivity in honour of Vesak – a celebration of Lord Buddha’s birth, enlightenment and attainment of Nirvana. With over 300 white lanterns and a host of lights illuminating the hotel, Hilton Colombo’s tasteful exterior was transformed into an exquisite display of Buddhist culture.
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The three winners of the Sri Lanka Science and Engineering Fair (SLSEF) 2011 - Chathura Saman Kumara from Pinnawala Central College, Rambukkana, Maleen Wijeratna from Maliyadeva College, Kurunegala, and a team comprising Pipunika Vimanthi Silva and Nipun Kavishka Silva from, De Mazenod College, Kandana will travel to Pittsburg, PA in the USA to represent Sri Lanka at the annual Intel International Science and Engineering Fair from the 14th through 18th of this month.
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 Handicap International (HI) is an independent international aid organisation working in situations of poverty and exclusion, conflict and disaster. Working alongside people with disabilities and vulnerable populations, Handicap International takes action and raises awareness in order to respond to their essential needs, improve their living conditions and promote respect for their dignity and fundamental rights. As one of the six founding organisations of the International Campaign to Ban Landmines (ICBL), Handicap International is co-laureate of the 1997 Nobel Peace Prize. The organisation is also laureate of the 2011 Conrad N. Hilton Humanitarian Prize.
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Fitch Ratings Lanka Limited has assigned an “A (lka)” National Long – term rating with a positive outlook for Sampath Leasing and Factoring Ltd (SLFL), a fully owned subsidiary of Sampath Bank PLC. SLFL is a specialized leasing company, which was established in 2005 to service the SME and retail segments.
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Asia Leisure, a fully owned subsidiary of the Asia Capital Group, today announced a strategic tie up with Teoria Investments of Japan, through which Teoria Investments will be making an initial investment of approximately US$ 2 million into ‘Taprobana,’ Asia Leisure’s property in Balapitiya which is currently under construction.
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 The Commercial Bank of Ceylon has opened its 215th Service Point in Sri Lanka, at the LAUGFS Supermarket at No. 751, Parliament Road, Pelawatta. The new service point is open for business from 10.00 am to 7.30 pm. It is equipped with an Automated Teller Machine that is linked the Bank’s network of 512 ATMs and 214 other service points.
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Cargills (Ceylon) PLC today along with its subsidiary Kotmale Holdings PLC pledged their continuous support towards its local dairy farmer in the wake of the current crisis prevailing in the dairy industry in the Country.
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From walking on the Great Wall of China to plummeting down the water slides of Leisure World, policyholders of Ceylinco Life were treated to experiences of a lifetime when the 5th Family Savari of the life insurance market leader got underway in April 2012.
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The highest oversubscription ever seen for a Sri Lankan international bond in April and KPMG’s latest positive Change Readiness Index ranking for Sri Lanka show the growing international investor confidence on the country. And Sri Lanka prefers patient investments to hot money.
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Dunamis Capital PLC has announced the concurrent appointments of Messrs Eardley Perera and Chandana L. de Silva as independent non-executive directors of the company and its property development subsidiary Kelsey Developments PLC.
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.gif) Fitch Ratings Lanka Limited has assigned an “A (lka)” National Long – term rating with a positive outlook for Sampath Leasing and Factoring Ltd (SLFL), a fully owned subsidiary of Sampath Bank PLC. SLFL is a specialized leasing company, which was established in 2005 to service the SME and retail segments.
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Launched 18 months ago by Ceylon Cold Stores PLC, KIK Cola recently won the prestigious Gold Award at the Lanka Star Awards 2012 for its unique bottle shape.
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An opportunity to undergo free general health, eye and dental checks was provided to residents of Moratuwa recently under a community project of Asian Paints, the India-headquartered multinational coatings company.
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The Commercial Bank of Ceylon has been adjudged the Most Productive Network in South Asia in 2011 for MoneyGram, the global funds transfer company. The award was presented at MoneyGram’s Regional Conference in Goa, India.
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A series of activities to promote health screening will be launched by Ceylinco Healthcare Services Limited (CHSL) in June, the month designated by the company as ‘Health Screening Month.’
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The Department of Supervision of Non-Bank Financial Institutions (DSNBI) of the Central Bank of Sri Lanka continuously supervises and monitors all licensed finance companies and specialized leasing companies licensed by the Monetary Board.
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Coca-Cola Beverages Sri Lanka Limited (CCBSL) announced the commencement of Season 3 of ‘Coca-Cola Cricket Pathway’ at the Bloomfield Grounds in Colombo today. ‘Coca-Cola Cricket Pathway’ is a series of camps organized by the company in partnership with the Aravinda de Silva Cricket Foundation and Sri Lanka Cricket.
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Randholee Luxury Resort Kandy, Sri Lanka today announced that it has received a TripAdvisor® Certificate of Excellence award. The accolade, which honours hospitality excellence, is given only to establishments that consistently achieve outstanding traveller reviews on TripAdvisor, and is extended to qualifying businesses worldwide. Approximately 10 percent of accommodations listed on TripAdvisor receive this prestigious award.
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As per the latest CSE release on 17th May 2012 on their website which stated that MBSL Savings Bank came under the purview of MBSL and in keeping with its core mission of functioning as an investment bank including Investment Banking, takes on the challenges of investing in distressed business entities with a view to resuscitating and converting them into viable ventures. Accordingly, provision of required capital inflow and management support is provided, once resurrected and in the midst of resurrecting, is usually disposed of in an appropriate manner, generating profits to MBSL.
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With Irish golfers flying high at the top of the golfing world, Emirates has announced its first sponsorship in Ireland by becoming the Official Airline of the Irish Open. The 2012 Irish Open, which takes place in the spectacular surrounds of the Royal Portrush Golf Club, from 28th June - 1st July, is one of the premier events on the European Tour calendar.
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Qatar – Sri Lanka trade and bilateral relations are further boosted by the currently on-going Doha Forum 2012. “Our participation in this event is a sign of Sri Lanka’s improving profile in international trade, specially, in the Middle East trade” announced Rishad Bathiudeen, Minister of Industry and Commerce of Sri Lanka.
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BIECO LINK, one of the largest activated carbon manufacturers in Sri Lanka has gained a new lease of life with fresh business direction and the latest engineering enhancements under the new management of PCH Holdings.
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The Brandix Group’s initiative to forge closer links with national higher education institutions for mutual benefit took an important step forward recently with the signing of a Memorandum of Understanding (MoU) with the University of Colombo.
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The Commercial Bank of Ceylon has donated a computer-based language laboratory to the Joint Service Language Training Institute (JSLTI) of the Ministry of Defence, extending its community initiative on IT support to the armed forces and police.
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Expolanka Holdings PLC, recently reached its milestone 50,000th patient in its flagship CSR program ‘Expo Medix’, a fast growing chain of affordable medical clinics. A not-for-profit project, it is inspired by the idea of providing free medical consultation and subsidised drugs to patients.
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With a reputation for consistently delivering innovative and creative ideas that work; BBDO Lanka, a part of BBDO World Wide, today presented an idea that has the potential to revolutionize the scope of environmental conservation. The launch of Asia’s first mechanical Air Cleaning hoarding – a hoarding that actually filters certain harmful content from the surrounding air, purifies it, and releases the purified air back to the environment.
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Sri Lanka’s best-selling radial tyre brand CEAT has consolidated its position in the market by adding three new sizes with improved performance features.
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The Alliance Française de Kotte (AFKO) this month celebrates two successful years of operations in the Colombo and Greater Colombo areas as France’s official educational and cultural partner in Sri Lanka.
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Intel Sri Lanka ushered in a new category of portable computers, with the announcement of the Ultrabook in the local market. Based on the second generation Intel® Core™ processors, Ultrabooks are set to bridge the gap between processing power and portability, promising to be a game changer in the ever-evolving technology market.
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The Los Angeles investment and biz community received a rare sprinkle of free Pure Ceylon Tea and cinnamon on 04 May. The free Sri Lankan gifts were part of promotional efforts at the Annual World Trade Week in LA held on May 4th.
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Strong operational performances from Hand Protection combined with capital gains and better contributions from Plantations have generated healthy revenue and profit growth for Dipped Products PLC (DPL) in the year ending 31st March 2012.
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Oman Air, the national carrier of the Sultanate of Oman, was awarded ‘Best Business Class Airline, Middle East’ at the prestigious Business Destinations Travel Awards 2012.
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Expolanka Holdings PLC today acquired the controlling stake in Akquasun Holidays India (Pvt) Ltd - at a cost of USD 915,000, thus further consolidating both its presence and strength in the leisure and travel sectors.
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Sri Lanka’s plastic industry will get a new boost when the Industry Ministry and UNIDO will soon launch a national initiative to upgrade it. “As our per capita plastic consumption is set to increase from current 6 Kg to 8 Kg and plastic has become an indispensable item in our lives and manufacturing,
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DFCC Vardhana Bank’s profit before tax (PBT) amounted to Rs 708.5 million during 2011 recording an increase of 31.5% compared with the PBT of Rs 538.8 million in 2010. The provision for taxation amounted to Rs 177 million. The effective tax rate was 24% of PBT down from 51% in 2010. Profit after taxation (PAT) attributable to the shareholders amounted to Rs 531.4 million reflecting an increase of 92.5% over the PAT of Rs 276 million over the previous year.
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Bertrand Siguier, Executive Vice President of the Publicis Groupe recently concluded a two day visit to Sri Lanka while touring the South Asian region. He was greeted at the Leo Burnett offices with a traditional Sri Lankan welcome.
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Two Emirates SkyCargo special freighter charters have touched down in the UK, carrying a record cargo of over 100 horses. The first shipment of 70 horses, which touched down on 27th April, was the largest number ever transported by Emirates SkyCargo on a single freighter flight. The second flight arrived two days later carrying 42 horses.
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In yet another innovative Vesak creation brought to life by Rainco Umbrellas, this year saw the Company bring to life one of the oldest known Buddhist symbols of all Buddhist nations - the Dharmachakra - which was created solely out of their own umbrellas.
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Valedictorian Markandu Sivakumaran was amongst the first batch of Sri Lankan students who graduated with MBAs from the Asia e University (AeU), a dual-mode multinational university established under the Asia Corporation Dialogue.
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SriLankan Airlines expands its operations in the North of Sri Lanka, opening its newest Sales Office in the heart of the Jaffna Peninsular, on 4th May, 2012.
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PC House PLC held its third consecutive Annual Sales Forum in Colombo, last month. Nearly 300 retail and regional sales and service team members assembled at this occasion which was followed by a banquet.
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Piramal Glass Ceylon PLC has declared its results for the year ended 31st March 2012. PGC has ensured the continuance of its upward momentum in performance by recording the highest ever profit in its history of Rs.687 million in F2012.
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Diethelm Travel Sri Lanka and the FTI Group, one of Germany’s leading tour operators today announced the operation of luxury cruises between Dubai and Colombo calling at Muscat, Mumbai, Goa and Kochi next winter.
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"Vardhana Prabhu" Priority Banking service reached out to its customers in the North and East this month, by providing them with special services over the National New Year to carry out their financial transactions, as well as being presented with an exclusive New Year gift.
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Jamaican Grammy Award winner, Shaggy stayed at the Hilton Colombo during his time in Sri Lanka for his live performance in which he enchanted local fans. The artist has produced many notable hits in the music industry and has enjoyed an exemplary career that has spanned well over a decade.
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The Commercial Bank of Ceylon has conducted a seminar in Thambuththegama for entrepreneurs who operate in the SME and Micro Enterprise sectors under a series of such events organised by the Bank in collaboration with the Central Bank.
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WELOVEIT Studio, a specialist social media solutions and an innovative design service provider, developed a social media engagement game catering to Keells Super, through Facebook celebrating the Sinhala and Hindu New Year.
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CERTIFICATE OF EXCELLENCE
SLT Group Q1 Operating Profit up by 14% to Rs. 1.86 Bn; Forex Loss Dilutes PBT