New Finance Secretary assumes duties

Published : 12:00 am  January 16, 2015  |  Category: Business  |  Leave a Comment  |  100 views  |  

Dr. R.H.S Samarathunga, an eminent officer of the Sri Lanka Administrative Service assumed duties as the Secretary to Minister of Finance on 12 January 2015 at the Ministry of Finance premises. Samarathunga who has obtained the B.A. (Honours) Degree in Economics from the University of Peradeniya joined the Sri Lanka Administrative Service in 1984. He has obtained his first post graduate degree from the Institute of Public Administration of Indraprasatha in New Delhi and the Masters in Business Administration (MBA) from the University of Sri Jayewardenepura and the Masters of Science (MSC) from the University of Wisconsin, USA. Further, Samarathunga possesses a doctorate in Economics from La... 


The Spice Council congratulates Maithripala, Ranil

Published : 12:00 am  January 16, 2015  |  Category: Business  |  Leave a Comment  |  89 views  |  

The Chairman and the committee of The Spice Council in a statement extended its congratulations to the democratically elected president of Sri Lanka Maithripala Sirisena and the appointed Prime Minister Ranil Wickremasinghe. The Spice Council proposes to work with the new president and its administration in advancing the policies and to further develop the spice sector of Sri Lanka. The spice sector plays a significant role on the contribution towards Sri Lanka’s national income on the exports. The spices sector consists of more than 70% smallholders and will offer the services to assist the Government in implementing the agricultural policies for the spice sector. With the growing demand for... 


Chamber of Construction Industry hails Maithri’s victory

Published : 12:00 am  January 16, 2015  |  Category: Business  |  Leave a Comment  |  137 views  |  

The Chamber of Construction Industry, Sri Lanka (CCI), the accredited representative of the domestic construction industry, has congratulated Maithripala Sirisena on his election as the President. “We wish to congratulate Your Excellency on being elected as the sixth Executive President of Sri Lanka and wish you success during your term of office. In addition, we wish you success with the implementation of your Manifesto ‘Maithri palanayak’ ‘sthavara ratak’ which is a laudable document and especially since Your Excellency is determined to ensure good governance, transparency and a strengthening of independent institutions. In the above connection, our chamber will be delighted to extend... 


4ever Skin Naturals glows at National Business Excellence Awards 2014

Published : 12:44 am  January 14, 2015  |  Category: Business  |  Leave a Comment  |  425 views  |  

4Ever Skin Naturals was recognised as a business enterprise demonstrating brilliance in the manufacturing sector at the recently concluded National Business Excellence Awards at the Hilton, Colombo recently. This is an annual awards competition conducted by the National Chamber of Commerce of Sri Lanka, with a view to recognise corporates that excel in their fields of operation whilst contributing to the economic progress of the country. Ever Skin Naturals Chairperson Chandhani Bandara   The success of 4Ever Skin Naturals in Asian and European markets is attributed to a perfect combination of decades of expertise in the beauty industry and state of the art production facilities with dynamic... 


Rishad returns to lead Lanka’s industry and commerce

Published : 12:44 am  January 14, 2015  |  Category: Business  |  Leave a Comment  |  359 views  |  

Rishad Bathiudeen will once again serve as the country’s Minister of Industry and Commerce, with the private sector hailing his return on 12 January. Minister Bathiudeen took his oaths before President Maithripala Sirisena at the Presidential Secretariat during the swearing-in ceremony of the new Cabinet. Minister Bathiudeen held the portfolio of the Industry and Commerce Ministry from 2011 to 2014. Since 2011, as the Minister in charge of Sri Lanka’s international trade, he represented the country at many global, multilateral and regional forums. In August 2013 Bathiudeen also took over the Chairmanship of the South Asia Free Trade Area (SAFTA) Ministerial Council. Minister Bathiudeen was... 


Mumbai based Indian Merchants’ Chamber led delegation to visit Sri Lanka

Published : 12:43 am  January 14, 2015  |  Category: Business  |  Leave a Comment  |  401 views  |  

A trade delegation from the Mumbai based Indian Merchants’ Chamber will visit Sri Lanka during mid-January to enhance bi-lateral trade and explore new avenues of business opportunities in Sri Lanka. The visiting delegation will meet with the local business community on 22 January 2015 at the Ceylon Chamber auditorium. The interactive meeting is jointly organised by the Ceylon Chamber of Commerce in association with the Indo-Lanka Chamber of Commerce and Industry. The Merchants’ Chamber delegation will arrive in Colombo on 21 January and will stay here for three days. The interest areas of the visiting delegations are manufacturing of consumer and industrial aerosol products, sourcing... 


Noritake Lanka crafts Holy Communion bowls for Papal visit to Sri Lanka

Published : 12:44 am  January 13, 2015  |  Category: Business  |  Leave a Comment  |  930 views  |  

Noritake Lanka Porcelain Ltd (NLPL) has been bestowed with the unique honour of crafting the Holy Communion bowls for Pope Francis’ visit to Sri Lanka. These brilliant white porcelain circular bowls measure 224.8 mm in diameter, 76.8 mm in height and weigh 682 grams. They have been made from porcelain sourced 60% in Sri Lanka and 40% from imported materials and has the lettering ‘Canonization of Blessed Joseph Vaz. 14 January 2015’. 24 karat gold, lead and cadmium free pigments have been used in the decoration of these bowls. These bowls will play a significant role in the Holy Masses the Pontiff will hold during his three day visit to Sri Lanka. Of the total of 1,300 bowls which have... 


Mackwoods Energy powers Salamulla housing complex

Published : 12:43 am  January 13, 2015  |  Category: Business  |  Leave a Comment  |  486 views  |  

Mackwoods Energy PLC recently installed and commissioned a 650kVA Mackpower Perkins Power Plant with an Automatic Power Transfer Panel at UDA Salamulla housing complex. This housing project was implemented by the Sri Lanka Land Reclamation and Development Corporation, at Vijaya Road, Salamulla, Kolonnawa, for the unprivileged people in the area. The housing complex consists of 3 blocks with 1008 Housing units. Block ‘A’ has already completed with 216 Housing units.                   Automatic Power Transfer Panel (APTP) installed was completed as per regulation under the Institute of Electrical Engineers (IEE), and will efficiently distribute... 


Cargills goes for compulsory offer on Kotmale to buy remaining 2.74% stake

Published : 12:46 am  January 12, 2015  |  Category: Business  |  Leave a Comment  |  643 views  |  

The Cargills (Ceylon) Group has announced a “compulsory” offer to buy the remaining 2.74% stake at large of Kotmale Holdings Plc (KHPLC). A decision to this effect was made by the Cargills Board last week. The compulsory offer is priced at Rs. 62.50 per KHPLC share. The stock last traded at Rs. 63. The compulsory offer follows the conclusion of a voluntary offer made in October at Rs. 62.50. During the voluntary offer Cargills secured only responses from shareholders owning around 301,000 shares of below 1%. As at September 2014, net assets per share at company level was Rs. 9.82, up from Rs. 8.37 a year ago and at group level it was Rs. 29.41, up from Rs. 26 in November 2013. As of end 2014,... 


Abeyagoonasekera heading to Switzerland for Young Global Leader forum

Published : 12:46 am  January 12, 2015  |  Category: Business  |  Leave a Comment  |  663 views  |  

Lakshman Kadirgamar Institute Executive Director Asanga Abeyagoonasekera will participate as a Young Global Leader for the World Economic Forum annual meeting in Davos Switzerland from 19-24 January. Out of 1000 applications from around the world only 110 Young Global Leaders were selected for this important event. This year’s theme ‘The New Global Context’ will evaluate the immediate and long-term implications of critical trends, including escalating geopolitical tensions, the expected normalisation of monetary policy and the economic and social repercussions of unabated climate change, youth unemployment and income inequality. Leaders from across government, business, international organisations,... 


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