Alufab share price soars on Hayleys takeover

Published : 12:00 am  October 20, 2014  |  Category: Business  |  Leave a Comment  |  430 views  |  

Alufab Plc last week became the biggest gainer percentagewise, with investors toasting the takeover by Hayleys Plc. Alufab gained by 63% or Rs. 12 to close the week at Rs. 31 with 14.46 million traded via 3,198 transactions for Rs. 355.5 million. Intra-week highest was Rs. 33.40. On Wednesday Hayleys acquired 62.48% stake or 7.534 million shares in Alufab for Rs. 170 million or Rs. 23 per share (a smaller quantity was done at Rs. 23.50). That day Alufab share price rose by 25% or Rs. 4.70 to close at Rs. 23.70. Swedish-based shareholders Chairman Johan Claesson and Director Victor Press were the main sellers in the deal structured by Adl Cpaital Ltd. Hayleys also has 51% stake in aluminium market... 


China’s LeTV enters Sri Lanka

Published : 12:00 am  October 20, 2014  |  Category: Business  |  Leave a Comment  |  607 views  |  

Chinese digital media giant LeTV’s Group Vice President Lu Wei Guo and senior officials visited Sri Lanka recently and called on Investment Promotion Deputy Minister Faiszer Musthpha. Letv is the most dynamic and influential innovation enterprise mixed with culture. Letv Inc was founded in 2004 and publicly traded in 2010. LeTV is the first Internet video provider worldwide that completed the IPO, and was valued at $ 6.6 billion in market. LeTV Inc owns the largest storage of Internet films, teleplays and sports, and it is the first internet company that has launched self-brand TV. LeTV will continue to change people’s internet lifestyle as its own mission. By creating the integrated ecosystem... 


Sri Lanka to host APO’s 55th WSM tomorrow in Colombo

Published : 12:00 am  October 20, 2014  |  Category: Business  |  Leave a Comment  |  328 views  |  

Text and pix by Harsha Udayakantha Peiris Asian Productivity Organization, headquartered in Tokyo, Japan, has selected Sri Lanka as the host country for the 55th Work Shop Meeting of Heads of National Productivity Organisations (NPOs) and National Productivity Secretariats (NPSs) of member countries to be held from 21 to 23 October. Two-member Sri Lankan delegation that represented Sri Lanka – Editor-in-Chief of Sri Lanka The Treasure Island Harsha Udayakantha Peiris and Senior Producer of the Educational Programs Division of SLRC Seetha Sirimalee Alahakoon with Mari Amano, APO Secretary General at the APO head quarters at the Multicountry OSM on best practices in promoting innovation and... 


SriLankan, SLNSS seal groundbreaking Collective Agreement

Published : 12:00 am  October 20, 2014  |  Category: Business  |  Leave a Comment  |  249 views  |  

Employees to play a dynamic role in productivity, value addition SriLankan Airlines CEO Kapila Chandrasena (left) and SLNSS General Secretary Lesley Devendra exchange the Collective Agreement signed last week. Others from left are Chanaka Olagma (Head of Service Delivery), Pradeepa Kekulawala (Head of Human Resources), Prasanna Welivita (President, S.L.N.S.S. –SriLankan branch), and Janaka Wijayapathiratne (General Secretary, S.L.N.S.S. – SriLankan branch)     The management of SriLankan Airlines sealed a new productivity based collective agreement with the Sri Lanka Nidahas Sevaka Sangamaya (SLNSS), for a period of three years (2014-2017) with the aim of providing enhanced incentives... 


Hayleys Agricultutre wins another gold at NCE Awards 2014

Published : 12:00 am  October 20, 2014  |  Category: Business  |  Leave a Comment  |  182 views  |  

Subsidiary HJS Condiments recognised for growth and innovation     Hayleys Agriculture Holdings Managing Director Rizvi Zaheed receiving the Gold Award – Agriculture Value Added Large Category from Sugath Gunasekera, DGM, Bank of Ceylon, the Principal Sponsor. NCE Past President Sarath De Silva and NCE Director, Member Services Geoffery Tillekeratne are also present   HJS Condiments Limited, the agri food export arm of Hayleys Agriculture won the Gold Award in the Agriculture Value Added Large Category at the 22nd National Chamber of Exporters (NCE) Awards Ceremony held recently. HJS Condiments Ltd. is Sri Lanka’s largest fruit and vegetable exporter, accounting for 43% of... 


First-ever on-water Boat Show a success

Published : 2:31 am  October 18, 2014  |  Category: Business  |  1 Comment  |  1,247 views  |  

2013 boat exports surge by 46% Buyers and exhibitors from Korea, Maldives, Seychelles Improved standards: Minister Senaratne Value-added business: EDB’s Egodage Economic Development Minister Basil Rajapaksa (second from left), Minister of Fisheries and Aquatic Resources Development Rajitha Senaratne (third from left) and EDB Chairman/CEO Bandula Egodage at Boatshow 2014 on 10 October at Dickowita Harbour, Wattala   Economic Development Minister Basil Rajapaksa visits Boatshow 2014 on 10 October at Dickowita Harbour, Wattala   Colombo’s latest international boat show, which featured an on-water boat display for the first time, concluded successfully after a three-day run on 12... 


Etisalat Lanka partners Department of Pensions to empower country’s ‘Smart Pensioners’

Published : 2:29 am  October 18, 2014  |  Category: Business  |  Leave a Comment  |  413 views  |  

Leading mobile telecommunications service provider Etisalat Lanka, in partnership with the Department of Pensions, launched a special bundled offer of products and services exclusively for pensioners at the National Pensioners’ Day event. Organised by the Department of Pensions, the event was held under the patronage of President Mahinda Rajapaksa in order to uplift the lives of Sri Lanka’s pensioners. Etisalat Lanka joined hands with the Department of Pensions to bring this initiative to those retired as an expression of gratitude for the services rendered by pensioners to the nation. The event took place at the Pensioners’ Resort in Wedamulla, Kelaniya. Distinguished invitees present... 


Emirates to grow services to Milan with introduction of A380

Published : 2:28 am  October 18, 2014  |  Category: Business  |  Leave a Comment  |  344 views  |  

Emirates, a global connector of people and economies, will grow its services to and from Milan with the upgrade of one of its daily Boeing 777-300 services to an A380 from 1 December. This will be the first ever permanently scheduled A380 service to Milan Malpensa Airport. Bringing the A380 onto one of Emirates’ three daily Milan services will mean an increase in capacity of almost 38%. The triple-daily service connecting Dubai to Milan is currently operated with a mix of Boeing 777-300 and 777-300ER aircraft. One of these services continues onward to New York. On the Dubai-Milan route, the aircraft is arranged in a three-class configuration with a combination of 399 and 427 seats in Economy... 


CMA Budget Highlights 2015 seminar on 27 Oct.

Published : 2:28 am  October 18, 2014  |  Category: Business  |  Leave a Comment  |  1,158 views  |  

The Taxation Committee of the Institute of Certified Management Accountants of Sri Lanka (CMA) will be conducting its budget seminar, titled ‘Budget Highlights 2015 – Tax Proposal and Impact on Business’, on 27 October from 1.30 p.m. to 5.30 p.m. at On Golden Pond within the Taj Samudra Hotel. The focus of the seminar will be to highlight the important aspects of Budget 2015 such as the economy and taxation with special emphasis on corporate and personal taxation, VAT and miscellaneous taxes and the impact of new taxes on business and the economy. The seminar will be inaugurated by its Chief Guest, Department of Inland Revenue Acting Commissioner General Wasanthi Manchanayake while the... 


Colombo Motor Show revs to life

Published : 12:54 am  October 17, 2014  |  Category: Business  |  Leave a Comment  |  825 views  |  

By Inshira Shainaz The most prestigious motor and motor accessories exhibition in the country, the Colombo Motor Show exhibition 2014, organised by Asia Exhibition and Conventions for the seventh consecutive year, was inaugurated by the Co-operatives and Internal Trade Minister Johnston Fernando, yesterday at the BMICH. From left: EAP Edirisinghe Networks Chairperson Soma Edirisinghe, Minister of Co-operatives and Internal Trade Johnston Fernando and Asia Exhibition and Conventions Managing Director Tyronne Chandrsekara This exhibition is an annual event which brings together all leading suppliers in the motor industry. It features motor car shows, off road vehicle shows, vintage car shows... 


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