LAUGFS celebrates outstanding 2013/14 at AGM

Published : 12:00 am  June 27, 2014  |  Category: Business  |  Leave a Comment  |  349 views  |  

The Annual General Meeting (AGM) 2013/14 of LAUGFS Gas PLC was held on 25 June 2014 at the Grand Ballroom, Waters Edge, celebrating a new era of high achievement in the company’s journey of success. The AGM centered on a qualitative 360° coverage of the performance of LAUGFS Gas PLC during the year 2013/14, which has included good returns for all subsidiaries, along with many highlights, accolades and new ventures. The pledge to deliver world class products and services while improving financial results has been at the forefront of the company’s vision, leading to its impressive performance during this period. Several new ventures were launched during these 12 months, further strengthening... 


Sri Lanka and Bangladesh sign MOU on procurement of pharmaceuticals and medical devices

Published : 12:00 am  June 27, 2014  |  Category: Business  |  Leave a Comment  |  419 views  |  

An MOU on procurement of pharmaceuticals and medical devices between the Government of Bangladesh and Sri Lanka was signed by Minister of Health Maithripala Sirisena and Bangladesh Minister of Health and Family Welfare Mohammed Nasim on 23 June at a ceremony held at the Ministry of Health and Family Welfare of Bangladesh. The MOU was initially proposed during Sirisena’s visit to Bangladesh in April 2013 as a measure to improve the efficiency of supplying pharmaceuticals and medical devices to Sri Lankan government hospitals on a Government-to-Government basis. During his visit to Bangladesh, Minister Sirisena called on his Bangladesh counterpart at the Ministry of Health and Family Welfare. The... 


Venture Engine announces top 14 fundable start ups moving on to finale

Published : 12:00 am  June 27, 2014  |  Category: Business  |  Leave a Comment  |  821 views  |  

Following the Round 1 presentations by the shortlisted 24 companies, that made it past the two-minute pitch round held on 20 June, Venture Engine announces that the 2014 Finale will see 14 businesses moving on to the final presentations to a distinguished panel of local and international judges. “The reality is that each of these 14 companies is a winner, regardless of first, second or third place, they each stand the chance of being funded by any of the investors that are part of the program, this is what has made Venture Engine a platform that truly creates opportunities for entrepreneur,” said Prajeeth Balasubramanium, Co-Founder of Blue Ocean Ventures. “The fact that we have 14 businesses... 


Dr. PB to keynote Sri Lanka Shippers’ Council 44th AGM today

Published : 12:00 am  June 27, 2014  |  Category: Business  |  Leave a Comment  |  214 views  |  

The oldest shippers’ council in Asia, The Sri Lanka Shippers’ Council (SLSC) will host its 44th Annual General Meeting today at 5.30 p.m. at the Cinnamon Lakeside under the patronage of Secretary to the Ministry of Finance and Planning Dr. P.B. Jayasundera as the Chief Guest and Brandix Lanka CEO Ashroff Omar as the Guest of Honour. The Sri Lanka Shippers’ Council was established in 1966 as a counterweight for the liner conferences that were emerging at that time in the maritime sector. The SLSC’s paramount objective is to secure the interest of Lankan shippers (exporters and importers).The SLSC consists of product associations and today its role has diversified as the global supply chain... 


CPC temporarily suspends refinery operations; assures no shortage

Published : 12:00 am  June 27, 2014  |  Category: Business  |  Leave a Comment  |  236 views  |  

Operations at Sapugaskanda refinery have been temporarily suspended due to a technical failure, the Managing Director of Ceylon Petroleum Corporation (CPC) Susantha de Silva said. The official said the operations at the Sapugaskanda oil refinery were halted for four days to repair a broken pipeline to the buoy and investigations are underway to determine the cause. The Managing Director assured that there will not be a fuel shortage although the repairs to the pipeline may take few days. However, a senior official of the refinery speaking to a local Sinhala daily said the technical failure is due to not upgrading the refinery. The official said that only one zone of the refinery is operating... 


BOI signs agreement for Maldivian Higher Education Institute

Published : 12:00 am  June 26, 2014  |  Category: Business  |  Leave a Comment  |  491 views  |  

The Board of Investment of Sri Lanka signed an agreement with Villa Education Services Lanka Ltd which is a Maldivian Investment for a project to set up Higher Education Institutes in Sri Lanka. BOI Chairman Dr. Lakshman Jayaweera signed the agreement on behalf of the BOI while Villa College Rector/Villa Educational Services Lanka Limited Chief Executive Officer Dr. Ahmed Anwar signed the agreement on behalf of the Maldivian company. Villa College is the first private higher education institution recognised by the Government of Maldives. Since its inception, it has become a hallmark for quality, accessibility and affordability. The undergraduate and postgraduate programs offered at Villa College... 


Two eminent Sri Lankans of CILT family rewarded for distinguished service

Published : 12:00 am  June 26, 2014  |  Category: Business  |  Leave a Comment  |  453 views  |  

The Chartered Institute of Logistics and Transport (CILT) is a leading global professional body associated with the logistics and transport industry. Established in UK in 1919 and having received the Royal Charter in 1926, the institute has an exciting history but is always adapting to stay consistent with current logistics and transport issues. The institute holds unparalleled international recognition and works towards achieving its objectives of promoting and encouraging the art and science of logistics and transport through its membership and its educational qualifications. With a global membership of over 33,000 from 32 countries across the globe, CILT provides a professional identity to... 


EDB starts work on latest global market Fairtrade call

Published : 12:12 am  June 25, 2014  |  Category: Business  |  Leave a Comment  |  343 views  |  

Enlists former global FT head Myers for initiative Pilots Fairtrade certification support in Sri Lanka for exporters First sector: Crafts & Lifestyle exports Midaya Ceramic, Kandygs, among shortlisted Crafts & Lifestyle exports up by 25% As Fairtrade becomes the latest sales driver in international markets, Sri Lanka has stepped up its efforts to meet the new standard. A promising Lankan export niche has become the successful testing ground for Sri Lanka’s entry into global Fairtrade certification regime – and the EDB, which leads the initiative, has received encouraging feedback from many – including a global consultant on Fairtrade. “I am impressed of Sri Lanka’s craft... 


Fire at factory in Katunayake FTZ

Published : 12:11 am  June 25, 2014  |  Category: Business  |  Leave a Comment  |  280 views  |  

A fire has broken out at the stores of a shirt factory yesterday in the Katunayake Free Trade Zone. The fire brigade and Air Force fire brigade brought the fire under control – Pix by Deepa Adikari  Read More →


BAT sells 16% stake in PC Pharma

Published : 12:10 am  June 25, 2014  |  Category: Business  |  Leave a Comment  |  357 views  |  

British American Technologies Ltd., (BAT) has sold a 16.05% stake in loss-making PC Pharma PLC yesterday for Rs. 20 million. The price at which the stake was divested ranged between a high of Rs. 1.40 per share and a low of Rs. 1.20 per share. The biggest block of 11 million shares was done at Rs. 1.20 each. As at end 2013, BAT held a 17.2% stake in PC Pharma. BAT acquired a 24% stake or 24.36 million shares in PC Pharma in August last year from PCH Holdings PLC at Rs. 1.50 per share. The second largest shareholder was S.H.M. Rishan with a 20% stake whilst PCH Holdings held a further 29% stake. Some of the personal holdings had been sold in May at 80 cents per share. In January, investor S.C.... 


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