Noritake wins Gold at NCE Awards

Published : 1:50 am  October 10, 2014  |  Category: Business  |  Leave a Comment  |  176 views  |  

                          Noritake Lanka Porcelain Ltd. (NLPL) recently won a Gold award in the Extra Large Category at the prestigious National Chamber of Exporters Awards. This comes hot on the heels of the Silver award it won in the ‘Large Manufacturing’ category at the National Productivity Awards last month. In the picture Sri Lanka Ports Authority Chairman Dr. Priyath Bandu Wickrema presents the award to NLPL Director T.C. Tennakoon.  Read More →

4Ever bags Achiever Award at CNCI Awards

Published : 1:48 am  October 10, 2014  |  Category: Business  |  Leave a Comment  |  195 views  |  

4Ever Skin Naturals Ltd., the leading herbal based cosmetics manufacturer, bagged yet another promising ‘National Level Award’ at the recently-concluded ‘The Achiever Awards’ being offered towards industrial and service excellence companies by the Ceylon National Chamber of Industries (CNCI), held at the Cinnamon Grand Hotel. This year too, the CNCI awards were organised for the 13th consecutive year, focusing specifically on the Sri Lankan manufacturing and services sectors.  The main reason of organising such an event annually is to recognise and bring forth the management and operational excellence achieved by industrial enterprises and rewarding them in order to encourage national... 

CA rules valuation process adopted by Customs is outlawed

Published : 1:46 am  October 10, 2014  |  Category: Business  |  4 Comments  |  419 views  |  

In a landmark judgement [CA (Writs) 392/2012] given last week, in which a business establishment had challenged the Customs valuation procedure, the Court of Appeal held that the valuation procedure adopted for customs purposes for the determination of value for imported goods is outlawed, arbitrary and violating the law governing the valuation of goods for Customs purposes. In this case, the Petitioner Aramson Enterprises, a long-standing business entity, had imported a consignment of rubber hoses from Indonesia but the Customs Valuation Directorate had refused to accept the declared transaction value given in the commercial invoice. Initially the Customs Valuation Directorate had ‘uplifted’... 

BlackBerry 10 debuts in Sri Lanka

Published : 1:41 am  October 10, 2014  |  Category: Business  |  Leave a Comment  |  292 views  |  

By Senuri De Silva Leading mobile phone manufacturer BlackBerry hopes to increase its presence in the Sri Lankan mid and high end smartphone market with the local launch of the new Blackberry 10. BlackBerry India and SAARC Managing Director Sunil Lalvani said: “The smartphone market has evolved rapidly in Sri Lanka and we are all set to impress our customers with the unique range of BlackBerry smartphones. The range of unique BlackBerry 10 smartphones unveiled today will be a perfect embodiment of stylish, high performance, innovative design and exemplary security which are synonymous with our brand promise.” BlackBerry said it was the preferred mobile phone of many of the world leaders and... 

Embassy of Sri Lanka in Japan hosts Sri Lanka Festival

Published : 12:00 am  October 9, 2014  |  Category: Business  |  Leave a Comment  |  273 views  |  

The Embassy of Sri Lanka in Japan organised the Sri Lanka Festival in Tokyo for the 11th consecutive year on 27 and 28 September. The Sri Lanka Festival has now become the largest Sri Lankan promotional event in Japan. The key objectives of the Sri Lanka Festival were to project the image and profile of the country and to promote Sri Lankan products, services and tourism from Japan to Sri Lanka, among others. This year, the festival was graced by political dignitaries and senior technocrats both from Sri Lanka and Japan. Ambassador Admiral Karannagoda with the Chief Guest, Guests of Honour from Sri Lanka and Japan and the Presidents of Sri Lankan Associations based in Japan, at the opening ceremony   The... 

DP Jayasinghe Piling gets TATA funded Slave Island Mixed Development Project deal

Published : 12:00 am  October 9, 2014  |  Category: Business  |  Leave a Comment  |  393 views  |  

DP Jayasinghe Piling Company Ltd, a leading entity in the construction industry was selected as the main piling contractor for the TATA funded Slave Island Mixed Development Project carried out by TATA Housing Development Comany Ltd. This is the first time that TATA Housing has ventured into real estate development in Sri Lanka. DP Jayasinghe Piling LTD was named as the main piling contractor for the development and the piling for the first was initiated under the auspices of DP Jayasinghe Piling Company Ltd Chairman Upali Jayasinghe, representatives from the TATA Housing Development Company and Nilesh De Silva, Director and Chartered Architect of Kahawita De Silva & Associates and the local... 

Acme announces 1:1 rights issue to raise Rs. 307m

Published : 12:00 am  October 9, 2014  |  Category: Business  |  Leave a Comment  |  230 views  |  

Acme Printing & Packaging PLC which is widely known as Sri Lanka’s foremost flexible packaging manufacturer has announced a 1:1 rights issue at an attractive exercise price of Rs. 12 per share. The Company will raise Rs. 307.3 million via the issuance of 25,613,280 new shares. The extraordinary general meeting for approval of the rights issue will be held on 14 October 2014. Acme is a trusted and much respected name in the flexible packaging industry. Acme’s flexible packaging solutions and products are being extensively used by some of the premier FMCG (Fast Moving Consumer Goods) companies in Sri Lanka including multinationals such as Unilever, GSK and Fonterra as well as other large... 

Sri Lanka in entrepôt breakthrough

Published : 12:00 am  October 9, 2014  |  Category: Business  |  Leave a Comment  |  265 views  |  

EDB enlists top trade and shipping execs in latest move Positions for Lanka’s first entrepôt initiative It’s much more, a customs area: EDB DG Sujatha Even ideal for SMEs: Custom’s Rishafy Right time for entrepôts: SLPA’s Jayatissa Lanka transhipments swell to 3.2 m Second private free zone now live     As latest transhipment volumes topped a whopping 3.2 m, Sri Lanka’s apex export body EDB lost no time and started to leverage the country’s historic free and bonded port declarations on 2 September, promptly joined by enthusiastic private shippers. Furthermore, the country’s second private sector free zone is now live. “The July 2013 declaration of three free ports... 

‘FYI Business Magazine’ launch tomorrow

Published : 12:00 am  October 9, 2014  |  Category: Business  |  Leave a Comment  |  182 views  |  

‘FYI Business Magazine’ by Lal Samarasinghe will be launched tomorrow, 10 October, at Sawsiripaya Auditorium at 3:30 p.m. It is available in both Sinhala and English and features 132 colour pages, comprising a collection of letters, most suitable for businessmen. The keynote address at the launch will be delivered by P.S.M. Gunaratne, Professor Finance & Management at the faculty of Colombo University.  Read More →

56% of export target achieved: Rishad

Published : 12:35 am  October 8, 2014  |  Category: Business  |  Leave a Comment  |  357 views  |  

Jan-Aug exports bring Lanka closer to ’14 target Says huge $ 1 m+ spice initiatives now on Thank you exporters, WTO!: Rishad “We thank Govt. for support”: Spice  Champ Sarada “Spices have returned!”: Rishad With latest January-August export totals, Sri Lanka has clinched 56% of annual export target for 2014 while the spice sector has returned, as revealed on 3 October. Meanwhile, the spice industry is full of praise for the Government for the assistance lent to the sector’s development. “By end of this August we have already achieved 56% of our annual national export target for year 2013. Thanks to you, the committed spice and other product exporters, we are able to move towards... 

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