‘Poson Vandana’ Free Shuttle Train Takes Lifesavers to Anuradhapura

June 8, 2012 Colombo: For the third consecutive year, the free Poson Vandana shuttle train between Anuradhapura and Mihintale was available for the safety and convenience of Poson pilgrims

SEC to tighten screws further

The Securities and Exchange Commission of Sri Lanka (SEC) is to further strengthen the regulatory and supervisory arrangements at the Colombo Stock Exchange (CSE), in keeping with modern trends, SEC Chairman Tilak Karunaratne said.

Bhashwara appointed SLTPB Chairman

Bhashwara Senanka Gunarathna assumed duties as the new Chairman of the Sri Lanka Tourism Promotion Bureau (SLTPB) yesterday at a brief ceremony held in the premises of the SLTPB.

Hyundai Glovis to call at H'tota Port today

Hyundai Glovis Co. Ltd., the car carrier with a worldwide transport network, represented in Sri Lanka by Aitken Spence Shipping Ltd., a subsidiary of Aitken Spence PLC, was the first shipping line to explore the viability of transshipping automobiles via Magam Ruhunupura Mahinda Rajapaksa (MRMR) Port.

Insurance industry grows 18.5% in 2011

The Gross Written Premium (GWP) of Sri Lanka’s insurance sector rose 18.5 percent Year-onYear (YoY) to Rs.66.2 billion in 2011 with both General and Life Insurance segments recording substantial growths, country’s insurance regulator, the Insurance Board of Sri Lanka (IBSL) said.

Know-how of purposeful use of mobile trend vital : ICTA CEO

The need of the hour is the know-how of purposeful use of the mobile phone phenomenon, says ICT Agency of Sri Lanka (ICTA) CEO Reshan Dewapura.

Intel supports Education Ministry’s “1000 Schools Project”

Intel Sri Lanka signed a Memorandum of Understanding (MoU) with the Ministry of Education recently in support of the government’s 1000 Schools Project.

EPF, NSB, Govt. face barrage of criticism

Two opposition parliamentarians on Wednesday accused the government of misusing the hard earned savings of the people in the country by manipulating the share market through Employees’ Provident Fund (EPF) and the National Savings Bank (NSB).

We can’t let perpetrators escape with no punishment – Harsha

UNP National List parliamentarian Harsha De Silva said the struggle to bring perpetrators of the NSB-TFC fiasco would go on undeterred.

Galadari looks ahead with confidence despite heavy losses

Galadari Hotels (Lanka) PLC is confident that the proposed restructuring plan for the conversion of debt into equity will be fruitful, and pave the way for further investment and progressive change, its Chairman stated despite the hotel incurring a heavy net loss during FY12.

Aviva NDB Deploys Lifesavers to Safeguard Poson Pilgrims

31 May 2012 Colombo:  This Poson too, for the 19th consecutive year, AVIVA NDB has made the customary arrangements to keep watch over the pilgrims who bathe in the reservoirs in and around Anuradhapura, Polonnaruwa and Dambulla

IBM marks 50-year presence in Sri Lanka, partners with HNB

As IBM marks its 50-year presence in Sri Lanka this year, the global technology giant announced its partnership with Hatton National Bank (HNB), a leading private sector bank in Sri Lanka.

Triad’s ‘Young Lions’ team for Cannes Advertising Festival 2012

Triad’s ‘Young Lions’ team for Cannes Advertising Festival 2012 The winners of Sri Lanka’s Young Lions – Print competition for the second consecutive year.

AVIVA NDB sales mix points to growing sophistication of Sri Lankan customers

Colombo, 29 May 2012: The unaudited financial results of AVIVA NDB Insurance presented for the three months ending 31 March 2012 recorded consolidated revenue amounting to LKR 3 billion.

Godahewa bows to PB pressure, quits from three chairmanships

Disagreements between Treasury Secretary DR.P.B Jayasundara and Sri Lanka Tourism Development Authority (SLTDA) Chairman Dr. Nalaka Godahewa have led to the resignation of the latter from the chairmanship of three tourism institutions under the Ministry of Economic Development.

Go Green Lanka to recycle used yoghurt cups

Go Green Lanka Recyclers, whose main production facility is to be located i n Kalutara, has taken the initiative to collect, clean and recycle the yoghurt cups, drinking cups, plastic bowls and other plastic products made out of high impact polystyrene (HIPS).

Moshe Safdie designed 65-storied tower to be built near Beira Lake

An Indian real estate company is to develop Colombo’s tallest residential tower designed by world renowned architect Moshe Safdie, in the 10 acre land previous belonging to the Colombo Commercial Company near Beira Lake.

‘Appzone Champions 2012’ honours Application Developers

The ‘Appzone Champions 2012’ Award Ceremony saw mobile application developers honored for excellence in seven different categories.

Hutch introduces automated reload machines for subscribers

Hutchison Telecommunication Lanka (Pvt.) Ltd. became the first mobile operator in Sri Lanka to introduce an automated reload machine (ARM) similar to a self-service terminal used by the banking industry.

Logiventures provides Convertainer solutions

Looking for a portable office, canteen, restaurant or even a home, a unit which is unique in design and complete with comforts? Look no further as Logiventures will end your search with its extraordinary versatile Convertainer solutions.

BBDO Lanka launches Asia’s first mechanical air cleaning billboard

With a reputation for consistently delivering innovative and creative ideas that work, BBDO Lanka, a part of BBDO Worldwide, presented an idea that has the potential to revolutionize the scope of environmental conservation. The launch of Asia’s first mechanical air cleaning hoarding – a hoarding that actually filters certain harmful content from the surrounding air, purifies it and releases the purified air back to the environment.

Legal alcohol now beyond reach for the poor - Shah

Exorbitant taxes on alcoholic beverages, particularly beer, in combination with other restrictions on sales and marketing may inadvertently fuel the demand for illicit liquor, according a Chief Executive Officer, Lion Brewery (Ceylon) PLC.

Tea tussle

Sri Lanka’s tea exporters yesterday said that they are committed to preserve the brand ‘Pure Ceylon Tea’, but stressed the country’s export share in the world tea market should be expanded to avoid deterioration of Sri Lanka’s position as a major tea exporting nations.

Brewing tea crisis

A former tea industry personality plans to file legal action once again, this time on the grounds of ‘Contempt of Court’, in relation to the recent talks by authorities for setting up a tea hub or blending centre in the island.

‘Investor Association’ to voice CSE’S minority concerns

Sri Lanka’s Securities and Exchange Commission (SEC) is to establish an ‘Investor Association’ to safeguard minority shareholder interests as well as function as a whistleblower against unlawful activities taking place in the Colombo Stock Exchange (CSE), a top SEC official said.

SEC stuck with reversing NSB-TFC deal; T+1 non-compliance remains puzzle

Securities and Exchange Commission (SEC) is said to be currently evaluating the legal options available to reverse the Rs.390 million controversial The FinanceNational Savings Bank deal, Mirror Business learns.

Forex losses push Dialog Axiata into red

Dialog Axiata PLC recorded a net loss of Rs.531 million in the first quarter ending March 31, 2012 against a net profit of Rs.1 billion in the corresponding quarter of the previous year.

Galadari announces serious capital loss

Galadhari Hotels (Lanka) PLC yesterday said that the company is currently facing a serious capital loss.“We wish to notify you hereby that the company's unaudited financial statements for the quarter ended 31 March, 2012 discloses that it is currently facing a position of serious loss of capital,” a disclosure filed by the company said.

People’s Merchant launches operations as licensed finance company

People’s Merchant PLC recently marked the transformation of the company’s strengths gained over a period of three decades into a licensed finance company, under the Finance Business Act No.42 of 2011, with a launch ceremony held at its head office at Navam Mawatha.

Govt. inhales Rs.15bn from fags; CTC records Rs.1.5bn net in 1Q 12

Ceylon Tobacco Company PLC (CTC) contributed Rs.15.3 billion towards government levies during the first quarter of 2012, over Rs 14 billion during the same period last year.