Fashion Bug powers 22nd Fox Hill Supercross

Fashion Bug, one of Sri Lanka’s leading retail clothing stores with over 17 outlets island-wide, stepped up as the principal sponsor and exclusive apparel partner in extending its support to the most popular and thrilling motor sports event Fox Hill Supercross 2014 which was held recently on 19th April.

Dialog Axiata to invest US $ 30mn on new submarine cable

Dialog Axiata PLC, a unit of Malaysia’s Axiata Group said, it will invest US $ 30 million on a new sub marine cable and has entered into an agreement with Bay of Bengal Gateway (BBG) Consortium to establish a Cable Landing Station in South Colombo (Mount Lavinia, off De Saram Road).

Fashion Bug makes CSR effort towards public health

In its recent CSR activities, Fashion Bug, one of Sri Lanka’s leading retail clothing stores with over 17 outlets island-wide, refurbished the maternity ward at the Ragama-based Colombo North Teaching Hospital for the beneficial of its needy patients.

Holcim, Lafarge agree merger to create cement giant

REUTERS: Switzerland’s Holcim has unveiled an all-share deal to buy France’s Lafarge to create the world’s biggest cement maker with combined sales of 32 billion euros.

ComBank to start Myanmar operations soon: Chairman

Commercial Bank PLC (Combank), Sri Lanka’s largest private sector bank yesterday expressed optimism of their foray into the fast emerging Southeast Asian nation, Myanmar before the third quarter of this year.

Wijeya Newspapers partners Wow.lk to form largest interactive classified portal

Wijeya Newspapers Limited owned Hit Ad and Lahipita, Sri Lanka’s largest classified giants joined hands with Dialog’s wow. lk, to create the country’s largest interactive mobile and web-based classifieds portal.

CEAT to open Rs.600 mn radial plant in Kelaniya

CEAT Kelani Holdings, the company that manufactures half of Sri Lanka’s tyre requirements, has announced a further commitment to the country in the form of an investment of Rs.600 million on a new tyre plant to produce highend radial tyres.

Dialog Axiata invests further US $ 115mn to expand ICT infrastructure

Dialog Axiata PLC, a unit of Malaysia’s Axiata Group, has recently inked a deal with Sri Lanka’s Board of Investments (BoI) to invest a further US $ 115 million, approximately Rs.15 billion, to expand Dialog’s nationwide telecommunication networks and digital satellite television services.

‘The Elements’ - Fairway Holdings launches its 4th Luxury Apartment Project

Emerging from the fusion of the elements, life is born anew to fulfil the dreams of those who wish to embrace it. Pure in form and perfect in spirit, "The Elements by Fairway" is a celebration of eternal life...in perfect harmony.

Public and private cruises to be launched along country’s west coast

Sri Lanka’s first tourist yachting company, Sail Lanka Charter (Pvt) Ltd, recently announced the launch of public and private cruises along the country’s west coast on board the company’s 48 foot sailboat, Topaz which is moored at the Beruwala Harbour.

Etisalat comes on board with Dialog’s eZ Cash

Dialog Axiata PLC, a unit of Malaysia’s Axiata group, yesterday announced that Sri Lanka’s Central Bank had granted its approval to extend Dialog’s mobile money platform eZ Cash to the country’s third largest mobile operator Etisalat Lanka (Pvt.) Ltd as well.

Unilever’s Pureit : “Democratizing safe water”

Pureit is an international range of water purifiers made by Unilever currently sold in India, Mexico, Brazil, Nigeria, Indonesia and Bangladesh, consisting of eight models - Pureit Classic, Pureit Advanced, Pureit Compact, Pureit Classic Autofill, Pureit Intella, Pureit Marvella, Pureit Marvella UV and Pureit Marvella RO.Pureit was first launched in Chennai India in 2005 and was subsequently introduced in Sri Lanka 2 ½years ago. Following

LB Finance named Sri Lanka’s best retail finance company

Global Banking & Finance Review, UK adjudged LB Finance PLC as “Best Retail Finance Company in Sri Lanka for 2013”, awarded on the back of the company’s outstanding efforts to support Sri Lanka’s small and medium entrepreneurs.

Former Air Force Commander assumes duties as BoC Chairman

Former Air Force Commander Air Chief Marshall Harsha Abeywickrema assumed duties as the new Bank of Ceylon (BoC) Chairman yesterday.

Lubricant player calls for an effective regulator

The Public Utilities Commission of Sri Lanka, which operates as the shadow regulator in the absence of a proper regulator, has not been empowered to deal with the issues confronting the lubricant industry, a top official of Sri Lanka’s largest lubricant industry player stated.

Public unrest against another Hayleys factory

Just under seven months to the incident which led to the closure of the Weliweriya glove manufacturing plant, another Hayleys group factory, Hanwella Rubber Products Ltd located in Hanwella has taken public to the streets, interestingly for the same contamination issue.

Hennayake elected APB President

The Association of Professional Bankers (APB) has elected Piyal D Hennayake as its President at the AGM held recently. He succeeded Sampath Bank CEO/MD Aravinda Perera.

Lee Hedges to build Rs.1.2bn office complex

Lee Hedges Investment Ltd, a fully owned subsidiary of Lee Hedges PLC has signed an agreement with Board of Investment (BoI) for a 15-story office complex in Colombo 03 at an estimated cost of Rs.1.2 billion.

Commercial Bank Rewards Winners of the Special SMS Promotion on International Women’s Day

The exclusive women’s savings account, Anagi from Commercial Bank, conducted a special SMS promotion based on the theme ‘The woman who inspired me the most’ in collaboration with Wijeya Newspapers Ltd to commemorate International Women’s Day on the 8th of March 2014.

Sri Lanka to witness first pre-owned Porsche car fair

Eurocars (Private) Limited, the official Porsche importer in Sri Lanka, is organizing for the first time a Porsche approved preowned car fair from March 8 to 9, at Arpico car park at Union Place.

Singer Sri Lanka posts marginal growth in challenging 2013

Consumer durables retailer Singer Sri Lanka said it recorded ‘marginal growth’ for the year ended December 31, 2013 (FY13) amid challenging business environment aggravated by low customer demand.

SLT raises US $ 100mn to upgrade infrastructure

Sri Lanka Telecom PLC, the leader in fixed telephone services in the country has raised US $ 100 million five- year term loan facility with the support of HSBC and Sampath Bank.

Harsha demands for EPF’s audited accounts again

United National Party Parliamentarian and economist, Dr.Harsha de Silva yesterday once again raised the issue of non-submission of audited accounts of Employees’ Provident Fund (EPF) —the largest superannuation fund controlled by the Central Bank—to the Parliament for the year 2011.

Avirate expansion plan & launch of Spring/Summer 2014

Avirate, the leading women’s clothing retailer in Sri Lanka held a press conference on Friday 21st Feb 2014 to announce the launch of their new Spring/Summer 2014 collection, combining casual, sassy street wear, festival trends and elegant evening wear & also to talk about their expansions globally this 2014.

MasterCard upbeat about Sri Lankan prospects

Sri Lanka could benefit and seek higher growth from global electronic payment trends, falling in line more with the current cashless spending patterns, a top official from the US financial services multinational, MasterCard said.

Launch of Sri Lanka’s 1st Crowdsourced Creative Agency

Me Idea, the creative agency of Loops Solutions, the leading digital marketing company in Sri Lanka was launched on Friday, 21st February 2014, offering for the first time in Sri Lanka, one of the most innovative and creative solutions to revolutionise the marketing industry through crowdsourcing.

Sri Lanka ventures into offshore fish farming

Oceanpick (Pvt.) Ltd, a local company seeking to pioneer sustainable marine aquaculture, recently installed the country’s first sea cage, initiating offshore fish farming off the Eastern coast of Sri Lanka.

Nearly 200 Cyber crime related incidents reported in SL each month

The Sri Lanka Computer Emergency Readiness Team Coordination Centre (Sri Lanka CERT CC) established in 2007 to protect the country’s information infrastructure and coordinate protective measures against cyber security revealed that it receives about 200 complaints monthly related to cyber crime, cyber threats and hacking.

Alumex to use IPO proceeds to set up powder coating plant

The Hayleys group subsidiary Alumex Limited yesterday announced its plans for an Rs.838 million Initial Public Offering (IPO), to finance a capital requirement to set up a powder coating plant and also to benefit from a government tax discount.

Facebook to buy WhatsApp for U $19 billion

Facebook Inc will buy fast-growing mobile-messaging startup WhatsApp for $19 billion in cash and stock, as the world's largest social network looks for ways to boost its popularity, especially among a younger crowd