“Sri Lanka moving towards industrial sustainability”: Bathiudeen

Published : 1:38 am  November 14, 2014  |  Category: Business  |  Leave a Comment  |  224 views  |  

Vienna’s 2nd ISID Forum closes successfully ‘We strengthened institutions’- Rishad Mission 09, Haritha among Lankan initiatives Minister of Industry and Commerce, Rishad Bathiudeen said that industrial development required a partnership-based effort, and inclusivity and sustainability go hand-in-hand to this end, while speaking at the world’s leading industrial forum in Vienna on 5 November. “Sri Lanka is already moving in the direction of ISID (Inclusive and Sustainable Industrial Development). Substantial progress has been achieved by Sri Lanka in the area of sustainable development under the leadership of President Mahinda Rajapaksa,” Minister Bathiudeen said while addressing... 


Maga celebrates 30 years; looks to sustainable future with new logo

Published : 12:03 am  November 13, 2014  |  Category: Business  |  Leave a Comment  |  661 views  |  

By Malik Gunatilleke Maga Engineering celebrated reaching a milestone of 30 years in the Sri Lankan construction industry while unveiling its new logo at a press event held yesterday at the Hilton Colombo. Maga Engineering Chairman and Managing Director M.G. Kularatne shared his thoughts on the occasion while charting his company’s humble beginnings as well as the drive and vision which led Maga to become the construction giant it is today. from left: MAGA Director Administration Cyril Fernando, MAGA Director Construction Manager A. Thiruvalluvar, MAGA Director Development Mega Kularatne, MAGA Chairman and Managing Director M.G. Kularatne, MAGA Chief Executive Director M. Piyadasa, MAGA Director... 


Aitken Spence enhances efficiency at Fiji Ports

Published : 12:02 am  November 13, 2014  |  Category: Business  |  Leave a Comment  |  361 views  |  

Since taking over management control of the International Fijian ports of Suva and Lautoka in July last year, Aitken Spence has increased ship crane productivity by 70%. Aitken Spence has also reduced berthing delays from between 12 to 18 hours to 0.50 hours on average while equipment downtime has been reduced by 60%. The substantial efficiency improvements were highlighted by Chairman/CEO of Aitken Spence Maritime, Logistics and Cargo and Director of Aitken Spence PLC, Dr. Parakrama Dissanayake, in his address at the 39th Pacific Maritime Transport Alliance Conference held in the island country of Niue from 28 to 31 October. The conference, themed ‘Our Pacific shores, the waves of possibilities’,... 


All-time record price for Hingalgoda Tea Factory

Published : 12:00 am  November 13, 2014  |  Category: Business  |  Leave a Comment  |  305 views  |  

Hingalgoda Tea Factory situated in Hiniduma, Galle, established an all-time record price at the weekly tea auctions held yesterday by securing an attractive price of Rs. 640 per kg for a PF grade in the Low Grown CTC category. Hingalgoda CTC teas are renowned for their colour, strength and bright liquoring characteristics, which are keenly sought-after by a range of reputed tea exporters. This line of tea was purchased by Euro Asia Corporation Ltd. Hingalgoda Tea Factory is managed by Tea Small Holder Factories PLC and the sole broker for the factory is John Keells PLC.  Read More →


ISMM awarded ISO 9001:2008 quality certification by SLSI

Published : 12:00 am  November 13, 2014  |  Category: Business  |  Leave a Comment  |  335 views  |  

The Institute of Supply and Materials Management was awarded the ISO 9001:2008 Quality Certification by the Sri Lanka Standards Institution recently at their 42nd anniversary banquet dinner held at the Pegasus Reef Hotel. The certificate was officially handed over by Sri Lanka Standards Institution Director General Dr. L. N. Senaweera to ISMM President Anil Ponweera in the presence of the Council of Management and staff of ISMM. ISMM President Anil Ponweera receiving the ISO certification from SLSI Director General Dr. L. N. Senaweera in the presence of ISMM Past Presidents, Vice Presidents and its General Secretary   ISMM was incorporated by Parliamentary Act No. 3 of 1981. In 1998 ISMM... 


Ministry of Education to start model agriculture farms in schools

Published : 12:00 am  November 13, 2014  |  Category: Business  |  Leave a Comment  |  217 views  |  

Minister of Education Bandula Gunawardena has said that agriculture farms would be established at schools and Colleges of Education in the island. Accordingly, farms would be established in about 10,000 schools and 18 Colleges of Education. Students at these institutions will maintain the farms, especially the students who study Agricultural Technology for the G.C.E. Advanced Level examination at 251 schools, said the Minister. The program is running parallel to the Divi Neguma domestic agriculture development program of the Government. Many schools including leading schools like Royal College in Colombo have already started such farms in the school premises.  Read More →


Verité Research, EASL to host seminar on doing business in China

Published : 12:00 am  November 13, 2014  |  Category: Business  |  Leave a Comment  |  262 views  |  

Verité Research, a leading research and strategy firm in Sri Lanka, and the Exporters’ Association of Sri Lanka (EASL) of the Ceylon Chamber of Commerce have come together to organise a special seminar titled ‘Doing Business with China: FTA and Beyond’. The seminar, which will be held on 26 November 2014 at On Golden Pond in the Taj Samudra Hotel in Colombo from 2.00 p.m. to 5.30 p.m., will explore opportunities and challenges for Sri Lankan businesses as they look to navigate the forthcoming Free Trade Agreement (FTA) and business with China. The event is timely, given the increasingly important role China is playing in the Sri Lankan economy. China’s significance as a lender, investor,... 


Nestlé Lanka posts 6% revenue growth for Q3 2014

Published : 12:00 am  November 13, 2014  |  Category: Business  |  Leave a Comment  |  229 views  |  

Leading Nutrition, Health and Wellness Company, Nestlé Lanka Plc, recorded a growth of 7.9% for the nine months ending 30 September 2014, posting revenue of Rs. 24.9 billion and a profit of Rs. 3.1 billion in the midst of a challenging market environment. An interim dividend of Rs. 12 per share was also declared by the Board of Directors to be paid to the shareholders on 2 December 2014. “With each quarter in 2014 posing fresh challenges for Nestlé Lanka, delivering satisfactory growth in line with expectations required perseverance and dedicated efforts from the team. To this effect, I am proud to note that we continued to build our brands and nurture our local talent while continuing to... 


GMO battles over ‘settled’ science spur new study of crops

Published : 12:00 am  November 13, 2014  |  Category: Business  |  Leave a Comment  |  115 views  |  

Reuters: Monsanto Co, the world’s largest seed company, and its brethren of global biotech crop developers are spreading the word that as far as the safety of their genetically modified grain goes, the science is solidly on their side. The message of “settled” science has become the rallying cry for defenders of the crops and food commonly referred to as GMOs as they push back against consumers, environmentalists, lawmakers and others who want the crops labelled, restricted or banned. “We believe the science is settled,” American Seed Trade Association CEO Andrew LaVigne said in an interview. But critics of the products say that is not the last word on the issue. Some international... 


CA Sri Lanka brings down Wall Street Mastermind for M&A Workshop of the Year

Published : 12:00 am  November 13, 2014  |  Category: Business  |  Leave a Comment  |  138 views  |  

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), which has built up a reputation for offering cutting-edge professional advancement programs for the benefit of the country’s high-end professionals, will bring down a Wall Street Mastermind to conduct a Mergers & Acquisitions workshop on 15 November. The Mergers & Acquisitions workshop, which is conducted jointly with Euromoney Training LLC, will feature Andrew Regan, who has been a consultant to some of America’s top business tycoons such as Warren Buffet, John Welch and Daniel Tully. The comprehensive three-day workshop will cover the most critical aspects of mergers and acquisitions in today’s business context.... 


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