Fonterra clinches top sector honours at Occupational Safety & Health Excellence Awards

Fonterra Brands Sri Lanka has been recognised as best-inclass for occupational health and safety, after being awarded the top honour for the food and beverage sector at the 2014 National Occupational Safety & Health Excellence (NOSHE) Awards.

Singer showcases array of brands at Lifestyle Fiesta 2014

Sri Lanka’s leading consumer durables retailer, Singer, recently capped the country’s largest lifestyle exhibition by announcing record attendance figures for the three-day event at the BMICH.

Virtusa’s “ERA Insight” recognized at NBQSA 2014

Virtusa Corporation (NASDAQ GS: VRTU), the business consulting and IT outsourcing company that combines innovation, technology leadership and industry solutions to transform the customer experience, bagged the Silver award in the General Application category at the National Best Quality ICT Awards ( NBQSA) 2014 held recently.

Computer Society receives huge response to National Schools Software Competition

The National Schools Software Competition (NSSC) –2014 conducted by the Computer Society of Sri Lanka (CSSL) for the 25th consecutive time,encompassing both national and international schools in the country’s nine provinces, has received a tremendous response islandwide.The ceremony to present awards and prizes to the winners of this key event will be held in January 2015, the Computer Society of Sri Lanka announced. This national

Hasrath Munasinghe among top 100 marketing leaders

Commercial Bank’s Deputy General Manager Marketing Hasrath Munasinghe has been named one of the ‘100 Most Talented Global Marketing Leaders’ by the Chief Marketing Officer (CMO) Council.This prestigious accolade was presented at the 2014 Global Marketing Excellence Awards of the World Marketing Congress at Taj Land’s End, Mumbai recently.

Hemas’ Marketing Manager wins Brand Leadership Award

Marketing professional Fiona Juriansz Munasinghe of Hemas Manufacturing Pvt Ltd has been awarded the “Brand Leadership Award” by the Chief Marketing Officer (CMO) Council.This accolade was presented at the 2014 Global Marketing Excellence Awards of the World Marketing Congress at Taj Land’s End, Mumbai recently. Fiona Munasinghe was the only Sri Lankan to win an award in this category at this awards ceremony.

Lanka Rating Agency upgrades Vallibel Finance to BBB-/P3; outlook stable

Lanka Rating Agency (LRA) has upgraded Vallibel Finance PLC’s (Vallibel) long-and short-term financial institution ratings from BB+ and NP to BBB-and P3, respectively.Concurrently, its issue rating of Rs.500 million unsecured subordinated redeemable debentures (2014/2019) is upgraded to BB+ from BB. Meanwhile, both long-term rating outlooks are reaffirmed at stable.

Sampath Bank opens newest ATM at PIM

The newest ATM of Sampath Bank was ceremonially opened at the Postgraduate Institute of Management, No: 28, Lesley Ranagala Mawatha, Colombo 8 by Sampath Bank Assistant General Manager Sanjaya Gunawardene and PIM Acting Director Dr. Ajantha Dharmasiri, recently.

Union Assurance maintains growth momentum

Union Assurance PLC (UA), a leading player in the Sri Lankan insurance sector, maintained a steady growth momentum in gross written premium (GWP) and profits as at the end of the third quarter of 2014.

Harry J’s son appointed to Distilleries board

Don Hasitha Stassen Jayawardena, bearing the same initials of his father business tycoon Harry Jayawardena, with the trademark Stassen name, has been appointed to the director board of Distilleries Company Sri Lanka PLC (DCSL) in the capacity of a Non-Executive Director with effect from November 21, 2014.

Amãna Bank records monthly profits with 85% growth in Net Financing Income

According to the quarterly financial statements released recently to the Colombo Stock Exchange, the Bank’s top line performance has also showcased an impressive growth for the first 9 months of 2014. The Bank has achieved a Financing Income of Rs 1,798 million showcasing a growth of 43% from the corresponding period of last year, whilst Net Financing Income has recorded a growth of 85% to reach Rs 900 million.  The Bank achieved a

Australia’s La Trobe University signs agreement with CA Sri Lanka

The BSc. Degree in Applied Accounting offered by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) continued to break new ground as it received endorsements from leading universities and professional organisations abroad.One of Australia’s top universities, La Trobe University recently entered into a partnership with CA Sri Lanka which allows students following CA Sri Lanka’s BSc. Degree in Applied Accounting the o

FedEx launches first all-electric delivery vehicle in Sri Lanka

With sustainable business practices in mind a significant initiative towards adopting ecofriendly business mechanisms was recently spearheaded by Mountain Hawk Express (MHE) – Licensee of Federal Express Corporation in Sri Lanka. After months of due diligence and research, MHE has made a move what is today alien to many but will certainly pave the way in harnessing renewable energy in the future.

Manufacturing Tops Lanka’s Industrial Sector

Sri Lanka has the manufacturing base ready, and 85 percent of Sri Lanka’s industrial economy is concentrated on manufacturing. In the Global Innovation Index 2014, we rank at 69 in “innovation infrastructure” close to Thailand and Brunei, said Industry and Commerce Minister Rishad Bathiudeen,addressing the launch event of INCO 2015 at the Staff Training Centre of Rajagiriya recently.INCO is reportedly the largest and most inf

SAARC Agreement On Trade In Services: Tardy Progress

After being in the SAARC agenda since the 13th SAARC Summit in Dhaka in 2005, finally the SAARC Agreement on Trade in Services (SATIS) was signed at the 16th SAARC Summit in Thimpu in April 2010. The SAARC leaders as usual called for an early conclusion of negotiations on the schedule of specific commitments under the agreement.

Amf Acquires 93% Stake Of Arpico Finance

Associate Motor Finance Company PLC (AMF) has acquired 93.809 percent of Arpico Finance Company PLC shares, following the expiration of the mandatory offer on November 19.

HNB to raise Rs.4bn via debentures

Colombo Stock Exchange has given its approval in principle to Sri Lanka’s second largest private bank to list its proposed senior debentures amounting to Rs.4 billion.The bank will initially issue 30 million debentures at an issue price of Rs.100, but will later upsize issue by another 10 million debentures in the event of the first tranche being subscribed.According to Fitch Ratings Lanka Limited (Fitch), HNB will use the proceeds to re

Etisalat AppZone Click: A do-it-yourself platform to create SMS based applications

Etisalat Lanka is launching the next phase of Sri Lanka’s first ever independent third party mobile application platform AppZone by introducing ‘AppZone Click’, a simplified process of developing a Short Message Service (SMS) based application designed to attract a wider potential segment of developers and individuals who wish to expand their business using SMS as a medium to development applications. 

OZO Colombo Welcomes Festive Season Helping Needy Families

OZO Colombo believes i n living the true spirit of Christmas, which means that it is also a time for sharing and thus has introduced a special CSR project to help the less fortunate.The project was initially started to collect items to support the Koslanda landslide victims and the efforts were then extended to help others in need in Anuradhapura area as a collective effort.

Mihin Lanka Now Flies To Lahore

Mihin Lanka’s senior management and team members from Colombo were on-board t he aircraft and were welcomed with a traditional water cannon salute, followed by a celebratory reception which took place at the CIP Lounge in Allama Iqbal International Airport in Lahore.

Dr. Alwis honoured as ‘Personality of the Year Asia – 2014’

Ceylinco Insurance Director Technical/Chief Technical Officer Dr. Jagath Alwis was honoured as the ‘Personality of the Year – 2014’, at the 18th Asia Insurance Industry Awards held in Taipei, Taiwan.The prestigious Asia Insurance Industry Awards, recognised as the zenith of the insurance industry in Asia, is now in its 18th year, having become a much sought-after mark of excellence and peer group endorsement, for insurance co

Amana Takaful Records Rs.56.5mn Net Profit For 9 Months

Composite fully-fledged Takaful insurer Amãna Takaful PLC, recorded a net profit of Rs.56.5 million for the nine months ended September 30, 2014, up from Rs.44.5 million reported in the same period of the previous year, with an earnings per share of 6 cents up from 4 cents.The gross written premium (GWP) reported during the period under review rose 9 percent year-onyear (YoY) to Rs.1.84 billion.The group was able t o book Rs.180.2 milli

amanté wins Silver at SLIM Brand Excellence

Outperforming competition from industry giants, amanté bagged a Silver award in the ‘Best New Entrant Brand of the Year’ category at SLIM Brand Excellence 2014, a validation of what the brand has offered the Sri Lankan lingerie market through its innovative and fashion-forward range.Celebrating two years of local operations on October 24th this year, the brand has offered its customers a product that is tailor made to fit th

Slim’s PCM Online Open For Registration

Sri Lanka Institute of Marketing announced that the December 2014 i ntake of Preliminary Certificate in Marketing Online (PCM Online), the only recognised marketing qualification in Sri Lanka available online, is now open for registrations.The Preliminary Certificate in Marketing (PCM) is one of the world’s best short courses in marketing and has been the preferred starting point for many distinguished marketers over the years. PCM Onlin

SriLankan Airlines to begin flights to Kunming

SriLankan Airlines, the national carrier of Sri Lanka and a member of the oneworld alliance, in a move to meet increasing demands for air services between China and Sri Lanka, will be initiating operations to Kunming on December 1, 2014, the company said in a statement.

Malaysia’s SME Factors conducts due diligence on Sri Lanka

A delegation from the SME Factors SdnBhd of Malaysia, a firm which is in the business of financing SMEs was in town to carry out a due diligence process to set up operations here.

Apparel Industry in Sri Lanka Mulls Automation To Overcome Labour Woes

The apparel industry, the country’s second largest foreign exchange earner is evaluating the feasibility to partly automate the manufacturing process to overcome a severe labour shortage the industry has been experiencing for some time.“One of our thrust areas is to consolidate and improve our business competitiveness, automation and technology,” the newly elected Sri Lanka Apparel Exporters Association Chairman Saif Jafferje

KVC “ Wasa Visa Nathi” Product Range

KVC Promotional campaign “Wasa Visa Nathi Ahara” was launched on 19th of November 2014 (Wednesday) at Hotel Taj Samudra - Crystal Lower Floor, Colombo 03. Mr. W. T. Ellawala , Chairman/CEO  –CW Mackie PLC addressing the launch ceremony said that the company was able  to turn Kelani Valley Canneries a profit-making entity within a period of 6 months  although KVC range was one of the recent acquisitions of

Mobile Mind Shift– Are Businesses Ready?

With an average Sri Lankan consuming 35 megabytes of data and looking up a mobile screen at least 26 times a day, mobile phones have become a faster and affordable medium of communication to engage customers.

Softlogic Max opens newest store in Panadura

Turning a retail space into a true retail adventure, Softlogic Retail Pvt. Ltd, a fully owned subsidiary of Softlogic Holdings Plc have announced the opening of their latest Softlogic Max store in Panadura.  Spanning over four thousand square feet, the spacious two storey retail space in the heart of Panadura is the eleventh Softlogic Max store in the country and opened its doors to the public on the 13th of November 2014.