Record smartphones sales help LG profits soar in 2014

LG Electronics Inc of South Korea announced that it posted an improved US$ 475 million profit after shipping a t otal of 59.1 million smartphones, a 24 percent increase in phones sales alone over the previous year contributed to the company’s profitability.

Kia opens showroom and service centre in Kurunegala

Kia Motors (Lanka), the sole local distributor for the stylish Korean automobile brand, has opened a sparkling new showroom and service centre in Kurunegala as part of a dealer development initiative being rolled out in Sri Lanka.

CEAT releases 5 new radial tyre sizes

  CEAT Kelani Holdings, the company that manufactures and supplies half of Sri Lanka’s tyre requirements, has announced the addition of five new sizes of radial tyres for popular models of cars on the country’s roads.

Colombo Fashion Week 2015 Model Applications Now Open

Colombo Fashion Week (CFW) calls upon aspiring models to apply for the Spring/Summer (SS) 2015 show which will be held in March 2015. Providing a platform that has previously showcased renowned models such as Jacqueline Fernandez and Adam Flamer-Caldera, the SS15 show is opening its doors for the next generation of high profile Sri Lankan models to take to the stage. 

Mobitel Cash Bonanza 2014 concludes on winning note

The grand draw Mobitel Cash Bonanza concluded the year 2014 on a high note with 18 lucky customers emerging winners with cash prizes worth a staggering Rs. 13 million in the fourth and final quarter of the year.

Moratuwa University selects OpenArc as BIT Degree partner

University of Moratuwa (UOM) has recognized OpenArc as the partner organization to offer Bachelor of Information Technology Degree of University of Moratuwa, commencing from the new intake in February 2015.

Brandix sponsors top squash tournament for 2nd year

The Brandix Group supported the 2015 J.P. Morgan Tournament of Champions in New York for a second consecutive year, gaining valuable visibility in the USA, a key market for Sri Lanka’s single largest apparel exporter.

Arpico felicitates star performers of manufacturing sector

Arpico felicitated star performers of its local manufacturing & distribution sector at Club Palm Bay Marawilla recently.The awards night was themed “Seize Your Glory”, with Richard Pieris PLC main Board Director and Managing Director of the local manufacturing and distribution sector Sunil Liyanage as Chief Guest. This ti me the awards ceremony recognised and rewarded 60 of the top performers.

CIMA unveils 9th corporate partners programme

CIMA unveiled its 29 corporate partners for the year 2015 recently at the Cinnamon Grand.The programme celebrates a partnership between CIMA and corporates that helps to groom professionals to lead businesses and endure excellence through an exposure to cutting edge practices, knowledge and knowhow.

UNIDO top official due in Sri Lanka this week

A onetime top Chinese financial reformer who successfully championed good governance and elimination of toxic financial assets in the mainland corporate sector will be in Sri Lanka to inspect UNIDO’s next program cycle in the country.

Hayleys MGT bounces back with Rs.17mn 3Q profits

Private and state sectors urge each other to ‘play by the rules’

The Ceylon Chamber of Commerce, the apex body of the private sector, requested the government to move out of conducting business through state-owned enterprises (SOEs) and to become the facilitator in creating a conducive environment for trade and investment.

‘Mansion Tax’ on super rich housing

?Finance Minister Ravi Karunanayake said that a Rs.1 million annual levy aptly named the ‘Mansion Tax’ will be charged from owners of all residences valued over Rs.100 million or spanning over 5000 square feet.

Govt. targets Rs.5 bn from casino tax

Finance Minister Ravi Karunanayake said that every casino license issued till now will be subject to a one time Rs.1 billion tax.He said that the Treasury will gain Rs.5 billion influx from the move. Vallibel One owner and Sri Lanka’s richest individual Dhammika Perera is said to be owning 3 licenses, while Rank Holdings owner Ravi Wijeratne owning the other two.

Ravi K disputes previous regime’s public debt figures

Finance Minister Ravi Karunanayake yesterday revealed that the public debt burden in reality is at 88.9 percent of the country’s Gross Domestic Product (GDP) or Rs.8.82 trillion, instead of the 75 percent figure which was flaunted about by the previous regime.“The government budget deficit does not include borrowings made by State-owned Enterprises for infrastructure projects. The t otal outstanding of these borrowings as at end 2014

New Etihad Airways Us Flight Schedule Offers Benefits To Passengers Flying From Colombo

Etihad Airways has announced a number of schedule changes to the airline’s flights between its Abu Dhabi hub and Chicago, New York, and Toronto, which will start on Sunday 29 March 2015.The move will provide convenient schedule options for Sri Lanka-based passengers, flying from Colombo, via Abu Dhabi to those cities in North America.

Five stars for Michelle

Michelle Boutique Hotel, a subsidiary of Mos-Lanka Holdings, has been awarded the prestigious and much coveted five-star International Hotel Award for 2014, in the category of Small Luxury Hotels Asia Pacific region, sponsored by Rolls-Royce Motor Cars.

Access Engineering to demonstrate innovation in foundation work of ITC Colombo One Hotel

Access Engineering PLC has secured a contract with ITC Limited, one of the largest diversified conglomerates in India, for the upcoming iconic luxury hotel and residences project, ITC Colombo One.

NDB powers first-ever Northern Province wind power projects

NDB granted two long-term facilities worth Rs.3.3 billion towards the construction and commissioning of two wind power projects in Vallimunai and Puloppalai of the Killnochchi district.  

Pan Asia Bank wins two Global Banking and Finance Review awards

Pan Asia Bank, which has been expanding the horizons of the local banking industry with its innovative banking products and impressive growth record, has been bestowed with two awards by Global Banking and Finance Review.

Thilak takes office for second time

Thilak Karunaratne assumed duties as the Chairman of the Securities and Exchange Commission of Sri Lanka (SEC) yesterday. Previously, Karunaratne served in the same capacity from December 2011 to August 2012.

Etisalat celebrates 25-year journey with rewards of 250 lakhs

Etisalat Lanka, the only network in Sri Lanka to complete 25 years in the mobile telecommunications sector, introduced a promotional scheme to reward its loyal customer base of 4.5 million connected to the 072 network.

Ronald Perera appointed BoC Chairman

Ronald Perera appointed BoC Chairman President’s Counsel Ronald Perera has been appointed Bank of Ceylon Chairman. He is due to assume office this morning. Perera is an experienced lawyer with a wide practice in the original courts as well as in the Court of Appeal and Supreme Court. A long standing member of the UNP Working Committee, Perera has appeared in numerous cases on behalf of the UNP and its leadership as well as for party members

SLT enables double broadband speeds for same price

Sri Lanka Telecom (SLT), the national ICT solutions provider announced the breaking news regarding the launch of the company’s Happy Broadband campaign.

Laksala retains growth momentum, to set up more outlets

Laksala, the leader in handicraft, gift & souvenir market in Sri Lanka has recorded a 25 percent year-on-year growth.The supplier base too has continuously increased and recorded over 8,000 craft entrepreneurs in 2014 from various parts of the country. Laksala continues to uplift the living standards of those occupied in rural cottage industries.

Thilak to assume duties today

Thilak Karunaratne will assume duties as Chairman of the Securities and Exchange Commission today.This is the second time Karunaratne will assume duties as chief of the stock market regulator.Karunaratne was first appointed as the SEC Chairman in December 2011, when the then Presidential Secretary’s spouse Indrani Sugathadasa resigned from the post to ‘uphold her principles’.

IAC sponsors Jaffna International Trade Fair 2015

With the end of a three decade civil war and the doors now opened for brands and businesses in a wide range of industries, Jaffna is considered to be amongst the most lucrative destinations today in Sri Lanka and the peninsula held its Jaffna International Trade Fair (JITF) for the sixth consecutive year for which Industrial Asphalts PLC (IAC) was a proud sponsor.

Amãna Takaful (ATL) - A Change for the Future

Amãna Takaful PLC the only fully-fledged Takaful operator in the country and  flag bearer of the Takaful way of insurance in Sri Lanka recently announced the transfer of its Life insurance business to Amãna Takaful Life Limited. 

SLT launches 2015 calendar themed ‘Corals of Sri Lanka’

Sri Lanka Telecom (SLT), the national ICT solutions provider and a responsible corporate citizen, adjudged as being amongst the top ten corporate citizens in Sri Lanka, launched its much awaited calendar and complimentary items for the year 2015 under the theme “Corals of Sri Lanka”.This follows the arts, culture and environmental/biological diversity themes which have been brought to life on an annual basis since 2003.

Templer’s Square to unveil model homes

Kelsey Homes, Sri Lanka’s leading housing development company is now underway with the construction of Templer’s Square, a Rs. 2 billion development in the heart of Mount Lavinia. Model homes and leisure facilities within the highly anticipated residential complex will be unveiled very shortly.