HNB September net profits up 7% to Rs.2.5bn

Hatton National Bank PLC (HNB), Sri Lanka’s second largest private bank in terms of assets, saw its net profit for the quarter ended September 30, 2014 (3Q14) improving 7 percent year-on-year (yoy) to Rs.2.51 billion, the interim financial accounts released to the Colombo Stock Exchange showed.The earnings per share (EPS) for the quarter also improved to Rs.6.28 from Rs.5.89. For nine months ended September 30, 2014 EPS stood at Rs.15.40

Maga Engineering To Initiate Projects Worth Rs.30bn

Construction industry leader Maga Engineering (Maga) has projects worth nearly Rs.30 billion to be initiated in the coming months, which could exceed Rs.80 billion before the end of the financial year.“We’ve submitted a proposal to the government to undertake a 28 kilometre stretch of the Northern Highway. It’s worth Rs.54 billion,” Maga Development Director Mega Kularatne said.

Go Travel International wins ‘Gold’ at Serendib Awards

Australia’s Serendib Awards 2014, which recognize, acknowledge & promote Sri Lankan individuals and businesses who have contributed immensely with outstanding success in their respective professions and made a significant contribution towards the Sri Lankan community, held their annual award ceremony on October 31st at The Grand on Princes, Melbourne, Australia.

Massive lending push boosts LOLC 2Q

The diversified conglomerate, Lanka Orix Leasing Company PLC (LOLC) increased its group net profits by a staggering 261.4 percent to Rs. 1.59 billion for the quarter ended September 30, 2014 (2Q15), helped by the aggressive lending drive that amounted to a massive Rs. 25.1 billion.The earnings per share rose to Rs.3.34 from 92 cents a year earlier.

Galle Face Hotel to host first-ever CFW Design Trunk Show 2014

The Galle Face Hotel today announced that it will play host to the first ever CFW Design Trunk Show 2014 organized by the Colombo Fashion Week. The event, which is set to see some of the leading locale designers showcase their talent, will unveil their Seasonal collection in an interesting and stylish setting at The Library of Galle Face Hotel in a 24 hour trunk show from 4pm on the 29th to 4pm on the 30th  November.

Aitken Spence Enhances Efficiency At Fiji Ports

Since taking over the management control of the international Fijian ports of Suva and Lautoka in July last year, Aitken Spence has increased ship crane productivity by 70 percent.Aitken Spence has also reduced berthing delays from between 12 to 18 hours to 0.50 hours on average while equipment downtime has been reduced by 60 percent.The substantial efficiency improvements were highlighted by Aitken Spence Maritime, Logistics and Cargo Chairma

Colombo to host Taiwan Textile Fairs 2014 in late November

The Taiwan textile industry is the acknowledged world leader in research, development and manufacturing of fabric and garment accessories. The highly successful Taiwan Textile Fairs brings together leading suppliers of textiles and related products from Taiwan, one of the world’s largest apparel textiles exporting countries to Sri Lanka, at the Taiwan Textiles Fairs in South Asia 2014.

A Day In Sri Lanka’s Biggest Kitchen

Sri Lanka’s biggest kitchen isn’t as homely or aesthetically pleasing as one might expect. Formed in 1979, SriLankan Catering Limited’s lean, mean, production kitchen, nestled 2km away from passenger terminals within the Bandaranaike International Airport (BIA), can cater up to 25,000 mouth watering meals a day up to the highest quality and hygiene standards in the world.

Nestlé Lanka September net profit up 21%

Nestlé Lanka PLC, the Sri Lankan unit of Swiss food and wellness giant, reported a net profit of Rs.1.1 billion for the quarter ended September 30, 2014 (3Q14), up 21 percent, from Rs.905.5 million recorded in the same quarter of the previous year.The earnings per share for the quarter thus improved to Rs.20.35 from Rs.16.36.The revenue for the quarter rose to Rs.8.2 billion from Rs.7.7 billion, while the cost of sales increased slightl

Findmyfare.com hosts day out and training for all staff

Sri Lanka’s largest online travel company, findmyfare.com recently hosted a day of fellowship combined with impactful training sessions for all staff members. The casual day out was held at The Palms Hotel in Beruwala and gave the findmyfare.com team a chance to relax, bond and learn.

Pizza Hut holds graduation

Pizza Hut held its graduation ceremony at Grand Monarch – Thalawathugoda, a black tie event for all 72 graduates, distinguished guests and family members, recently.Every year, Pizza Hut conducts its i nternal management and nonmanagement level development programmes for its employees.With its rapid growth, the percentage of staff promotions was almost 95 percent.This year top scorers got scholarships for training in India.

Brandix Leads Apparel Industry In Tribute To Martin Trust

If any individual can be considered the father of Sri Lanka’s emergence as an apparel manufacturer of global significance, it would be Martin Trust, as a tribute to whom a coffee table book has been published by the Brandix group on behalf of the industry and Martin Trust’s Sri Lankan business partners.‘Built on Trust’ is a 238-page treasury of images and exceptional insight into the founding in 1970 of MAST Industries

Daimler to host MercedesBenz Regional After-Sales Conference in Colombo

Daimler AG, manufactures of Mercedes-Benz has selected the new Mercedes-Benz Center in Sri Lanka – ‘DIMO800’ – to have their 2014 After Sales Conference.Heads of After-Sales Service facilities from countries i n the region such as Singapore, Philippines, Nepal, Laos, Brunei, Myanmar, Sri Lanka, Bangladesh, Papua New Guinea, Tahiti, Laos and more will take part in this two-day conference, which is to be held from 19th &n

Jeep conquers wilderness of the South

Jeep Wrangler Southern Night Rally 2014, tagged as the “Journey through the Wilderness of the South”, organized by the Southern Motor Sports Club took place recently in Matara.Thirty one competitors took part at this event which was flagged off opposite the Matara Clock Tower on Saturday (Nov-1) night. Jeep swept away the major honours at this event which was conducted in two stages.

Home-grown Edinborough in expansion mode

Home-grown food stuff giant Edinborough Products (Pvt.) Ltd will be launching an aggressive expor t campaign into the UK in partnership with the leadingglobal supermarket chain, Tesco PLC and is expecting even further expansion into advanced economies.“We’ll be importing up to 16 to 20 containers a month with two of our products once our new factory is complete,” Edinborough Managing Director R.P.M. Zalmy told Mirror Business

Nippon Paints bags gold at NBQSA 2014

Nippon Paint Lanka, walked off as winners of a Gold award at the recently held National Best Quality Software Awards (NBQSA) 2014.NBQSA, is the national awards competition for best software products in Sri Lanka organized by the Sri Lanka section of the British Computer Society, the Chartered Institute of IT.

KPMG wins Golden Peacock Global Sustainability Award

KPMG International was presented with the prestigious Golden Peacock Award for Global Sustainability at a ceremony held at the Millennium Hotel in London, recently, as part of the Institute of Directors (IoD) of India’s annual meeting.aThe annual awards, overseen by t he IoD India, t his year attracted nearly 300 entries from global businesses. The in-depth evaluation and judging process identifies organisations leading the way in sustai

Laugfs Gas introduces Safety Regulator

The Laugfs Safety Regulator breaks new ground in domestic safety in Sri Lanka and not surprisingly it comes with the foresight of Laugfs Gas PLC, which has been at the helm of caring for your kitchen.The Laugfs Safety Regulator, which comprises many safety features, comes in an easy to assemble convenient pack including regulator, clips and special LPG hose.Nervous fears of leaking LPG cylinders lurk in the minds of many consumers. Each cylind

Laugfs wins at NBQSA 2014

Diversified conglomerate Laugfs Holdings was recognized for its in-house developed Laugfs Bid Plus software at the prestigious National Best Quality Software Awards (NBQSA) 2014.Bid Plus won a Merit award under the ‘e-Inclusion & e-Community’ category which recognizes software which adds value to the community and society at large.This system was developed by the group IT of Laugfs Holdings according to a concept of Chai

Fairway Holdings Launches Fairway Galle Development Project

Fairway Holdings launches Fairway Galle, its latest vertical living development project in the heritage city of Galle.Fairway Holdings, a in the field of luxury high-rise development, having introduced many ‘firsts’ in luxury vertical living solutions, has embarked on its latest venture - Fairway Galle.

UGC-approved BSc. in Applied Accounting Degree open for enrolment

A major shortcoming of the accounting sector in Sri Lanka has been the lack of a specialized academic qualification in accountancy. And today even that shortage has been rectified.The BSc. (Applied Accounting) Degree from the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) fulfils this long felt need in the corporate financial sector of Sri Lanka by being the first applied accounting degree in the country.

Combank Commissions Drive-through Atm At Gampaha

The Commercial Bank of Ceylon has commissioned its latest drive-through Automated Teller Machine (ATM) at the Bank’s Gampaha branch, for the convenience of busy customers.Similar drive-through ATMs set up recently by Sri Lanka’s largest private bank are at the Bank’s branch at Reid Avenue and at the ‘K Zone’ Shopping Complex in Ja-Ela.

Can you find a better offer?

Sri Lanka’s  largest online travel company, findmyfare.com recently partnered with Standard Chartered Bank to offer unbeatable deals on over 100 Sri Lankan hotels. Now Standard Chartered Bank cardholders can enjoy discounts of up to 60 percent on a bed and breakfast, half-board and full-board basis at select Jetwing, Cocoon, Amaya, Pigeon Island and Roman Lake hotels. This one-of-a-kind offer is available until 31 August 2015

CIC Agri Businesses wins Gold at NCE Awards

CIC Agri Produce Export (Pvt) Ltd, a part of CIC Agri Businesses recently won a highly acclaimed gold award in the Agriculture Value Added Small Category at the 22nd National Chamber of Exporters (NCE) Awards Ceremony. CIC has previously been awarded a gold award and silver award in 2012 and 2011 respectively in the same category.

Hyundai, Kia to pay US $ 100 million over fuel economy suit

The Mobitel Enterprise SMS Solution - Pilot Project kicked-off recently at the Ceylon Petroleum Storage Terminals Limited.The inauguration ceremony was held at the CPSTL Kolonnawa Installation premises recently, under the patronage of Chairman/MD of Ceylon Petroleum Storage Terminals Limited, Major General M.R.W. De Zoysa and Manju Fernando Chief Officer – Enterprise Business Development of Mobitel (Pvt) Ltd.

Sinopec Introduces Justar Lubricant

Sinopec, the third largest company in the world, introduced its newest product to the Sri Lankan market, the Singapore factory product - Sinopec Justar 10w40 lubricant, recently.At a ceremony, Auto Miraj Managing Director N. Chandramohan was handed over Sinopec Justar lubricants by Sinopec Lubricants General Manager Ushan Wijewardena and other senior officials.

Fonterra Constructs Chilling Centre In Gampaha

Fonterra Brands Sri Lanka announced it is building a new chilling centre in Gampaha as part of its commitment to growing and developing the local dairy industry in Sri Lanka.Managing Director Fonterra Brands Sri Lanka Leon Clement said the new chilling centre allows Fonterra to begin milk collection in a new region and will support 200 local farmers.“We are focused on growing the local dairy industry in Sri Lanka and today’s event

Hameedia exclusive principal sponsor of the ‘Designer Wedding Show 2014’

Continuously setting the benchmark in the fashion industry, Hameedia will once again be partnering with the ‘Designer Wedding Show 2014’ as the exclusive principal sponsor of the event. The highly anticipated fashion show will take place on 28 October at the Hilton Colombo and will showcase the most renowned designers and brands associated with weddings, bridal fashion and grooms wear in Sri Lanka.   

Urgent Statement By The Planters' Association On Landslides

The Planters’ Association of Ceylon expresses its deep regret over the loss of lives caused by landslides in the Koslanda area last Wednesday (29th October)  and reaffirms its steadfast commitment to assist other estate residents living in areas facing the danger of landslides, with the co-operation of the relevant government authorities. 

Holcim Lanka to provide technical expertise for Room to Read’s local projects

Holcim Lanka, t he leading cement manufacturer in the country, has entered into a strategic agreement with the global non-profit organization, Room to Read, to provide technical expertise on construction along with cement at a discounted rate for its library and school construction projects around the country.