Business

Sri Lanka participates in China International Import Expo

Views - 40 Thursday, 15 November 2018 00:00

Sri Lanka participated in the first China International Import Expo (CIIE) held in Shanghai from 5-10 November. A total of 172 countries from five continents as well as international organisations showcased their development achievements and interna


Aitken Spence improves performance in the second quarter

Views - 60 Thursday, 15 November 2018 00:00

Leading conglomerate Aitken Spence PLC’s financial results, released to the Colombo Stock Exchange, revealed quarterly revenue increasing year-on-year (YoY) to Rs. 12.41 billion from Rs. 12.27 billion, while revenue for the six months was Rs. 22.98


Hayleys surpasses Rs. 100 b turnover in first half

Views - 663 Wednesday, 14 November 2018 00:00

Fuelled by topline growth across all of its key business segments, leading diversified conglomerate Hayleys Plc posted a 65% Year-on-Year (YoY) increase in turnover up to Rs. 103 billion for the six-month period ending 30 September 2018. The group po


Felicitation dinner and get-together 2018 of Sustainable Energy Engineering

Views - 30 Wednesday, 14 November 2018 00:00

The Felicitation Dinner and Get-together 2018 of the Alumni Association of Sustainable Energy Engineering (Worldwide) Sri Lanka (ASEEWSL) will be held at Solis Hotel, Pitakotte on 15 November from 5 p.m. to 10 p.m. The objective of the event is to s


Hemas Holdings Plc’s operating profit up by 22.5%

Views - 592 Wednesday, 14 November 2018 00:00

The Hemas Holdings Group said yesterday it had recorded consolidated revenue of Rs. 30 billion for the first six months ended 30 September 2018, a year-on-year (YoY) growth of 33% driven by the recent acquisition of Atlas and its healthcare sector.


SL economy resilient: CB Chief

Views - 152 Wednesday, 14 November 2018 00:00

By Charumini de Silva Central Bank Governor Dr. Indrajit Coomaraswamy yesterday sought to rest concerns of economic turmoil in Sri Lanka, assuring that macroeconomic fundamentals remained strong and the Government remained on track to meet debt repay


76th Executive Committee of SAARC CCI

Views - 29 Tuesday, 13 November 2018 01:01

The 76th Executive Committee of SAARC CCI was held in Chennai on 10 November and the leading businessmen from South Asian countries, gathered at Radison Blu Hotel. SAARC CCI President Ruwan Edirisinghe chaired the meeting and finalised the action pla


Sri Lanka-France Business Council welcomes new French Ambassador Eric Lavertu

Views - 35 Tuesday, 13 November 2018 01:00

The Sri Lanka-France Business Council of the Ceylon Chamber of Commerce organised an evening of cocktails and networking on 7 November to welcome the new Ambassador of France Eric Lavertu to Sri Lanka. Ambassador Lavertu presented his credentials to


Union Chemicals Lanka clinches Bronze at Presidential Environmental Awards 2018

Views - 15 Tuesday, 13 November 2018 00:59

Union Chemicals Lanka clinched Bronze at the Presidential Environmental Awards 2018, organised by the Central Environmental Authority (CEA) at the BMICH in line with the inauguration of Sri Lanka NEXT ‘Blue Green Era’ conference on 19 October. Th


Sri Lanka Telecom wins three awards at 32nd International ARC Awards

Views - 18 Tuesday, 13 November 2018 00:58

Sri Lanka Telecom (SLT), the National ICT Solutions Provider in the country was the proud winner of three awards for the company’s Annual Report 2017 at the prestigious International ARC Awards 2018, held in Hamburg, Germany recently. Company Secr


Singer first half revenue increases by 14% to Rs. 28.6 b

Views - 78 Tuesday, 13 November 2018 00:58

Singer (Sri Lanka) PLC announced today its results for the first half ended 30 September. Despite tough business conditions, the results for the six months showed a commendable revenue growth of 14% to Rs. 28.6 billion compared to the same period i


Vidullanka sells shares held in Udaka Energy Group for Rs. 15.5 m

Views - 54 Tuesday, 13 November 2018 00:57

Vidullanka PLC, in an announcement to the Stock Exchange, disclosed the disposal of the 50% of the shares held in Udaka Energy Group Ltd., for a consideration of Rs. 15.5 million to Midland Energy Ltd. The Udaka Energy owns and operates the Haloya M


Economic Association postpones annual session

Views - 18 Tuesday, 13 November 2018 00:57

The Sri Lanka Economic Association (SLEA)’s annual sessions scheduled for 16 to 17 November has been postponed due to an unavoidable circumstance. SLEA said the rescheduled dates of the annual sessions will be revealed in due course. The program a


Dipped Products posts Rs. 553M PBT in 1H 2018/19

Views - 29 Tuesday, 13 November 2018 00:57

Strong gains from performance improvement initiatives in local operations and significant contribution from overseas marketing operations have generated noteworthy profit growth in 1H of 2018/19 for the Dipped Products Group, a global leader in hand


Another win for Siddhalepa at 2018 Green Awards

Views - 18 Tuesday, 13 November 2018 00:57

Re-establishing their commitment to a green environment, Siddhalepa was once again recognised at the recent Presidential Environmental Awards with a bronze award. Consistently and courageously championing the green cause, Siddhalepa has been among


LVL Energy Fund PLC’s six-month profit exceeds profit recorded for the full previous year

Views - 32 Tuesday, 13 November 2018 00:56

LVL Energy Fund PLC, with an operational footprint covering Sri Lanka, Bangladesh and Nepal, recorded a strong financial performance in the first half of the current financial year, which is reflected in the company’s prov


Strategic consolidation in FMCG sector boosts Sunshine Holdings’ EPS by 23.3% in 1HFY19

Views - 64 Monday, 12 November 2018 00:58

Diversified Sri Lankan conglomerate Sunshine Holdings PLC reported top-line performance growth of 5.7% YoY to stand at Rs.10.9 billion for the six months period ending 30 September 2018 (1HFY19). The top line increase was mainly due to strong perfor


Lotus takes over Zyrex, makes greener Sri Lanka a reality

Views - 69 Monday, 12 November 2018 00:57

Lotus Renewables, a subsidiary of the G&G group of companies, Singapore has announced its planned acquisition of Zyrex, a mini hydro power generating company, close on the heels of the purchase of Browns Hydro Power last year. Focusing on alternative


Central Bank releases ‘A Step by Step Guide to Doing Business in Sri Lanka’

Views - 71 Monday, 12 November 2018 00:55

The eighth edition of ‘A Step by Step Guide to Doing Business in Sri Lanka’, published by the Central Bank of Sri Lanka, has been released. It has been categorised under three main chapters: ‘Starting a Business’, ‘During the Business’ a


Haycarb records turnover of Rs. 8.9 b & profit before tax of Rs. 502 m for H1 2018/19

Views - 69 Friday, 9 November 2018 00:00

Sri Lankan multinational Haycarb Plc reported revenue of Rs. 8.9 billion and profit before tax of Rs. 502 million for the six months ending 30 September 2018. The profit after tax stood at Rs. 428 million. Haycarb Plc Managing Director Rajitha Kar


European Chamber of Commerce of Sri Lanka hosts National Energy Globe Award – Sri Lanka 2018

Views - 30 Friday, 9 November 2018 00:00

The European Chamber of Commerce of Sri Lanka hosted the National Energy Globe Award for Sri Lanka 2018 on behalf of Advantage Austria. This event was held at the Colombo Swimming Club on 30 October. The Energy Globe Award is one of today’s most p


McLarens Group opens brand new 3M office in Colombo

Views - 149 Friday, 9 November 2018 00:00

Following the announcement of its collaboration with 3M Global Channel Services (GCS) as the Master Distributor of 3M’s full line of non-healthcare products, McLarens Group opened its brand new office dedicated to 3M in Colombo. The opening of the


Launch of IIRC Integrated Report 2017

Views - 74 Friday, 9 November 2018 00:00

The International Integrated Reporting Council (IIRC), UK partnered with Smart Media The Annual Report Company, Sri Lanka to produce the IIRC Integrated Report 2017, which was released earlier this year. As a coalition of over 70 institutions with di


Sri Lanka participates at 2nd Global Franchise and SME Exposition and Forum in Bahrain

Views - 55 Thursday, 8 November 2018 01:00

The high profile ‘2nd Global Franchise and SME Exposition and Forum’ in Bahrain was conducted and organised by the Middle East and North Africa Franchise Association (MENAFA), which is the membership organisation of franchisors, franchisees, SMEs


Review of JKH’s 2Q performance

Views - 70 Thursday, 8 November 2018 00:59

Transportation The Transportation industry group PBT was Rs. 1.06 billion in the second quarter of 2018/19 [2017/18 Q2: Rs. 1.07 billion]. The market share and profits of the Group’s Bunkering business, Lanka Marine Services (LMS), increased as a r


Port service charges up for revision

Views - 94 Thursday, 8 November 2018 00:47

The Cabinet on Tuesday decided to revise port charges levied to increase competitiveness and profitability, Ports and Shipping Minister Mahinda Samarasinghe announced yesterday. The Cabinet of Ministers under President Maithripala Sirisena and newly


Women Top 50 Conference to inspire women to succeed, influence and give back

Views - 72 Thursday, 8 November 2018 00:45

The ‘Women Top 50’ Professional and Career Women Annual Conference 2018 is geared to inspire women with motivating success stories of career women who have made their mark in the corporate world.


Institute of Directors expresses concern over current politics

Views - 45 Thursday, 8 November 2018 00:38

The Sri Lanka Institute of Directors (SLID) in a statement yesterday said it was gravely concerned about the current political situation in Sri Lanka, which is negatively impacting local industry and international business reputation.  “We urge t


Sri Lanka’s gem and jewellery industry receives fresh boost with new executive committee

Views - 173 Wednesday, 7 November 2018 01:21

The apex body of the gem and jewellery industry of Sri Lanka, the Sri Lanka Gem and Jewellery Association (SLGJA), recently appointed the new governing body consisting of many stalwarts from the industry. The committee to handle the industry’s symb


3DH Energy Solutions launches Mersen Surge Arresters in Sri Lanka

Views - 171 Wednesday, 7 November 2018 01:20

World-class French technology to safeguard solar PV panels from lightning


Today's Columnists

Reaching global quality standards through Deming Award

Wednesday, 21 November 2018

The importance of quality in the contemporary competitive business environment cannot be over-emphasised. Total Quality Management (TQM)is a company-wide, all pervasive management philosophy, which organisations globally, in many business sectors hav


Ramsar accreditation of Colombo Wetlands: Rebranding Colombo as a Wetland City

Wednesday, 21 November 2018

Colombo, once known to be “kolonthota,” has always been identified as a wetland complex at the heart of the Kelani river delta. Today this city is increasingly drying up, with around 20 sq km left as wetlands which continue to be threatened every


Coup Sri Lanka: some winners, mostly losers

Wednesday, 21 November 2018

As a president proves shockingly stubborn, a nation waits with baited breath as to what His Excellency the loose cannon on a rocky slope will do next. Two Prime Ministers and the fates of their respective parliamentary groups hang in the balance lik


Rising dollar and bank NPA, brothers in arms?

Wednesday, 21 November 2018

The rising Non-Performing Advances (NPA/NPAs) is a matter of concern to the entire financial industry. It is a nightmare. The weekend papers have published some articles based on interviews journalists conducted with respective bank CEOs and also bas


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