Samsung Reinforces TV Leadership in South West Asia with SUHD TVs, Curved TVs, Smart TV powered by T

Samsung Electronics Co Ltd., the global leader in Home Entertainment for nine consecutive years, today introduced an extensive range of SUHD TVs at its 2015 Samsung Forum in Bangkok. The new TVs set a new standard in premium Ultra HD content and elevate the viewing experience to new heights. Samsung also showcased its expansive line-up of audio products, including Curved Soundbars, which complement and enhance the home entertainment experience w

The basics for investing in stocks

Over the long run, stocks have beaten the performance of any other major asset class by a wide margin (refer Box 1).

Mobil Lubricants partners Land Rover as official lubricant arm

McLarens Lubricants Limited, sole agents for ExxonMobil Lubricants in Sri Lanka signed SML Frontier Automotive (Pvt) Ltd, Agents for Land Rover as their official lubricant partner.

Pop Culture Icon, Design Muse And Movie Star: The Coca-cola Bottle Is 100 Years Young

A design so distinctive that it could be recognized by touch alone and so unique that it could be identified when shattered on the ground. This was the brief for the creation of the Coca-Cola bottle which is 100 years young this year. To mark this milestone, The Coca-Cola Company is celebrating with a year-long campaign that includes new advertising, a music anthem and a series of art exhibits featuring works from some of the world’s leadin

CAL’s all-women Investment Management team now the largest in the country

Capital Alliance’s all-women Investment Management team, headed by Ashveeni Shanthikumar, CEO, CAL Investments, has rapidly evolved into the largest fund management unit in the country. As part of its International Women’s Day 2015 celebrations, CAL is shining a light on this dynamic and successful all-women team that has contributed significantly to the company’s overall success. Each year, International Women’s Day celeb

Lalith to resign; Dileepa new SLT Group CEO

?Sri Lanka Telecom PLC yesterday announced the resignation of incumbent Group CEO Lalith De Silva and the appointment of new Group CEO Dileepa Wijesundara. De Silva’s resignation will come into effect from March 13, 2015.

Governor pushes big corporates to tap bond markets instead of easy bank credit

?The newly appointed Central Bank Governor Arjuna Mahendran said the country’s larger corporates must turn to bond markets instead of resorting to easy bank credit for their liquidity needs. 

Restrictions on banks’ access to SDF removed

?Restrictions imposed on banks parking their excess liquidity with the Central Bank have been lifted. The Central Bank yesterday said the 5 percent Standing Deposit Facility (SDF) rate was withdrawn with effect from March 2, 2015.

Hemas’ draws foreign and domestic investor interest

?Hemas Holdings PLC (HHL) said its recently announced Rs.4 billion rights issue has drawn high interest from both foreign and domestic investors. Esufally family members, who own about 70 percent of the company had said, they would not be subscribing to the rights.

Fitch cuts telecom sector outlook to negative

Fitch Ratings has cut the country’s telecom sector outlook to negative from stable amid the one-off and recurring taxes slapped on the industry by the interim budget of the new administration.   

Singer 4Q growth helps annual revenue to surpass Rs. 29 bn

Consumer durables retailer Singer Sri Lanka ended the 2014 financial year on a high note, recording a 27 percent growth in fourth quarter revenue that helped the Group achieve Rs. 29.7 billion in annual revenue. Annual revenue grew by 16.5 percent in 2014, an increase driven by rising demand in key product categories.

Singhe Hospitals in Rs.250mn IPO to retire debt, invest in machinery, labs

Singhe Hospitals Limited of Ratnapura will be opening its Initial Public Offering of Rs. 250 million on March 12 at the Colombo Stock Exchange, following just 2 years of operations, as announced at a press conference recently.

Unilever Sri Lanka crowned ‘Marketer of the Year’ at Effies

Unilever Sri Lanka bagged the coveted ‘Marketer of the Year’ award at the Sri Lanka Institute of Marketing (SLIM) Effie Awards 2014 held recently.The award recognizes the overall effectiveness of Unilever Sri Lanka’s marketing efforts across its portfolio of 29 brands. The company topped the charts to win this coveted prize.

Holcim Lanka hosts ‘concrete week’ to educate stakeholders

Holcim Lanka recently held its first Innovation and Application (I&A) week at its new I&A centre at R. A. De Mel Mawatha to create awareness among its key stakeholders of the several value added services offered by the centre.

Iodex holds relief camp for Sri Pada pilgrims

Iodex, the Ayurvedic balm brand from SmithKline Beecham (GlaxoSmithKline), recently held a relief camp to provide support to thousands of pilgrims visiting Sri Pada, a sacred place for Sri Lankans at a height of 2,243 metres.

UltraTech conducts building clinics with Engineers Institute

UltraTech Cement Lanka (Pvt.) Ltd is conducting building clinics in partnership with the Institute of Engineers to help individual home builders get professional advice to cut down on costs and own a long-lasting house.

HNB-Ideal Motors partnership to promote Mahindra vehicles

Hatton National Bank (HNB), the premier private sector commercial bank in Sri Lanka, recently joined hands with Ideal Motors (Pvt.) Ltd to promote Mahindra vehicles.

Further savings on fuel for HSBC cardholders

HSBC’s popular ‘free fuel for one year’ at islandwide Lanka IOC fuel stations continues to reward credit cardholders with further savings on fuel on top of the fuel price reduction.

CDB launches Salary Plus account

Recognising the importance of proper income management and inculcating the habit of saving amongst the people, Citizens Development Business Finance PLC (CDB) launched its innovative Salary Plus savings account recently, expanding its portfolio of financial solutions.

Land Rover partners with HSBC Colombo Fashion Week

Land Rover is extremely proud to partner with HSBC Colombo Fashion Week for a fourth consecutive year for the upcoming Spring/Summer 2015 Show. The annual HSBC Colombo Fashion Week showcase has become one of the most highly anticipated events of the year not just in Sri Lanka, but also in the region. Land Rover’s well-considered partnerships and events resonate with consumers who have come to regard the brand as a beacon of a boundary-pushi

Maliban milk products awarded ‘OHSAS 18001: 2007’ certification

Maliban Milk became the first milk food company in Sri Lanka to be awarded the International Standards of ISO Certifications Trinity; ISO 9001, ISO 22000 and ISO 14001 from the Sri Lanka Standards Institution.

Brandix felicitates donation of 3,321 units of blood

The National Blood Transfusion Service (NTBS) has felicitated the Brandix Group for the donation by its employees of 3,321 units of blood in 2014, the largest donation by a single corporate entity in the country in the year.This is the fifth year in succession that Brandix, Sri Lanka’s single largest apparel exporter, has been acknowledged as the largest donor of blood among private sector organisations that donate annually to the NTBS.

SLT wins Taiki Akimoto 5S Awards

Sri Lanka Telecom (SLT), the national ICT solutions provider proved to be one of the strongest business entities when it was awarded the prestigious ‘Taiki Akimoto 5S Awards including; the Merit Award for t he Service SectorLarge, Merit Award for the “Best Efforts i n Public/ Private Partnership”-CSR Awards 2014 categories and three Certificates of Compliance awarded to SLT Regional Offices Chilaw, Kotte & Kurunegala for the

Pan Asia Bank records over 34% credit growth and 265% growth in PAT

Pan Asia Bank recorded an impressive 265 percent growth in profit after tax (PAT) for the financial year ended December 31, 2014 to post Rs.415.2 million on the back of strong core-banking performance, non-fund-based income and efficient cost management.The pre-tax profit too grew by three folds to Rs.538.4 million. These results were achieved in spite of substantial provision for impairment on loans and other losses of Rs.815 million.

Job portal Everjobs makes debut in Sri Lanka

Everjobs (everjobs.lk), the new j ob portal for fast growing markets, was launched yesterday in Sri Lanka. The company’s mission is to simplify the job search and hiring process by connecting job seekers with employers in a matter of clicks. The Everjobs site offers helpful tools and intuitive features, such as a CV creation t ool, easy site navigation, search filter and career tips.

High-level Swiss mission to SL in May

Switzerland, the nation with the richest households in the world, is to boost its economic ties with Sri Lanka as the Swiss Foreign Minister is due in Colombo and a high-powered trade and investment mission too been scheduled.

Aitken Spence adds another island to Maldivian resort portfolio

?Aitken Spence Hotel Holdings PLC has recently entered an agreement with the Maldivian government to lease and develop an uninhabited island named “Aarah”, Mirror Business learns.

Gaming facility restrictions to delay JKH’s US $ 445 mn syndicated loan : report

?With the new government’s decision not to allow gaming facilities in the proposed integrated resorts, John Keells Holdings PLC (JKH) has faced a delay in obtaining a US $ 445 million syndicated loan, foreign media said. 

AIA Lanka December net profit dips 58%

?The local unit of the Hong Kong stock exchange listed Asian life insurance giant, AIA Group Limited, AIA Insurance Lanka PLC (AIA) saw its net profits for the quarter ended December 31,2014 falling by 57.8 percent to Rs. 153.8 million (Rs.5 a share) from a year ago, interim financials showed.

Chevron Lanka December net down 5%

?Chevron Lubricants Lanka PLC, the local unit of US-based multi national saw its December quarter (4Q14) net profit falling 5 percent year-on-year (yoy) to Rs.558 million amid a decline in its top line, the financial accounts released to the Colombo Stock Exchange showed.