Power, Transmission projects to get a push during Modi-Sirisena meet

Published : 12:00 am  February 16, 2015  |  Category: Business  |  Leave a Comment  |  191 views  |  

Business Standard: NTPC’s 500 MW coal based power project at Sampur, Trincomalee and PowerGrid Corporation’s over and under-sea transmission line project connecting India and Sri Lanka are expected to get a much needed push during meeting between Prime Minister Narendra Modi and Sri Lankan President Maithripala Sirisena. The power project, which NTPC had proposed in June 2005, entails an investment of Rs 2,000 crore has yet to get various clearances from the Sri Lankan government agencies. Similarly, the transmission project proposed in 2007-08 to transfer 1,000 MW of power from India to Sri Lanka needs an investment of Rs 3,000 crore. However, both the governments and PowerGrid Corporation... 


Asian Paints to offer preview of new ‘Smart Care’ products at Architect 2015

Published : 1:03 am  February 14, 2015  |  Category: Business  |  Leave a Comment  |  292 views  |  

A preview of an exciting new product range soon to be introduced to the local market will be part of the offering to visitors to the Asian Paints stall at Architect 2015, the annual exhibition of the Sri Lanka Institute of Architects. Categorised as ‘Smart Care’ by the coatings giant, the new range comprises of a series of cutting-edge products in the form of admixtures, sealants and nano-technology based water-proofing products that ensure surfaces to be painted are protected from the ill-effects of moisture. “This is an all-new product category that we are very enthusiastic about,” said Asian Paints (Lanka) Ltd. Director/General Manager Jacob Kuruvilla. “We felt that the Architects’... 


Arpico presents ‘Win the World’ holidays to 25 customer families

Published : 1:01 am  February 14, 2015  |  Category: Business  |  Leave a Comment  |  344 views  |  

From USA and Brazil to the Philippines, Australia and China, and many points in between, the world has opened up for 25 Sri Lankan families whose shopping with the Arpico retail chain has won them all-expenses-paid holidays to 15 popular destinations. 25 lucky families drawn from more than 200,000 coupons of shoppers who met the stipulated criteria in December 2014, received their Arpico ‘Win the World’ prizes from the retail giant recently, and will have till end June 2015 to holiday in the destinations they won. Covering five continents and encompassing North and South America, Europe, Africa, Asia and Australia, these holidays are inclusive of visa, food, accommodation, pocket money and... 


Multilac the innovator takes 33 dealers to Vietnam

Published : 12:57 am  February 14, 2015  |  Category: Business  |  Leave a Comment  |  246 views  |  

With the objective of recognising the efforts of its dealers in maximising the company’s market scope, Multilac, the innovator gifted 33 of their dealers with an all expense paid tour to Vietnam. Dedicated dealers who achieved outstanding scores in terms of sales revenue were selected to be a part of this wonderful opportunity. The four-day tour included visits to Vietnam’s most popular tourist attractions and presented a unique experience to all participants. Upon their arrival at Noi Bai Airport in Hanoi, the group of dealers received a warm welcome from their tour guides, following which they were taken to Thang Long Espana Hotel, where their stay was scheduled. The exciting first day... 


Leema Creations earns top recognition, wins large category national award

Published : 12:55 am  February 14, 2015  |  Category: Business  |  Leave a Comment  |  275 views  |  

Leema Creations Ltd, the leading and most sought after interior solution provider in Sri Lanka bagged two awards once again, the Large Category National Bronze Award and the Large Category Provincial Bronze Award at the recently concluded 19th ‘Entrepreneur of the Year 2014’ ceremony held on 29 January at Waters Edge. This is the fourth occasion Leema was honoured with the awards by the prestigious FCCISL. Sri Lankan Entrepreneur of the Year is recognised as Sri Lanka’s premier Entrepreneurship Awards for the past 18 years. Leema Creations Managing Director Channa Wijesekara accepted the honour at the ceremony on behalf of the company. The recognition came as a rich dividend for the commitments... 


Govt. introduces sweeping changes to rice production and distribution

Published : 12:54 am  February 14, 2015  |  Category: Business  |  Leave a Comment  |  346 views  |  

Sri Lanka is preparing to introduce sweeping changes to the production and distribution of its rice. In an attempt to halt entrenched corruption within the sector, the country’s top paddy purchasing entity has been stopped from making any more direct purchases with immediate effect. “We want to break the monopoly affecting the entire rice sector of Sri Lanka. From now onwards we will not allocate money to the PMB (Paddy Marketing Board) to buy paddy since President Maithripala Sirisena has decided that the PMB has become corrupt,” Food Security Minister Gamini Jayawickrama announced. Minister Perera was addressing a press briefing alongside Industry and Commerce Minister Rishad Bathiudeen... 


Amal, Dinesh join CIC Holdings Board

Published : 12:00 am  February 13, 2015  |  Category: Business  |  Leave a Comment  |  1 views  |  

CIC Holdings Plc has appointed Dinesh Weerakkody to the Board of Directors of CIC Holdings Plc as an Independent Non-Executive Director, effective 12 February 2015. With the new appointment, the Board will now consist of 11 Directors of whom five are Non-Executive Independent Directors. Amal Cabraal has also been appointed as the Non-Executive Chairman of CIC Feeds Ltd., a subsidiary of CIC Holdings Plc, effective as of 1 April 2015. CIC Holdings Chairman Harsha Amarasekera commenting on the appointments said: “We are extremely pleased to have professionals of the calibre of Dinesh and Amal serving on the Boards of the CIC Group of Companies. They bring a wealth of experience and acumen across... 


Odel shines in 3Q; Ashok announces new plans

Published : 12:00 am  February 13, 2015  |  Category: Business  |  Leave a Comment  |  412 views  |  

Odel PLC has reported a quarterly (3QFY15) turnover of Rs. 1.4 b from Rs. 1.38 b last year, taking the cumulative turnover to Rs. 3.7 b for the nine months as against Rs. 3.5 b in the comparative period. Chairman Ashok Pathirage said a notable improvement in gross profit margins took place during the quarter to 40.2% from 36.5% in 3QFY14. A decline in operational cost margins was also noted during 3QFY15 to 31.5% from 34.2% in the comparative quarter which consequently improved operating profit margins to 10.1% from 6.3%. cumulative operating profit (excluding other operating income) improved by 30.8% to Rs. 158.7 m whilst the same for the quarter reached Rs. 122.5 m from Rs. 31.5 m in the comparative... 


Big draw for Aberdeen Holdings at Gulfood 2015

Published : 12:00 am  February 13, 2015  |  Category: Business  |  Leave a Comment  |  300 views  |  

  Aberdeen Holdings Ltd. has had huge response at Gulfood this year, according to Group Director Sattar Kassim. Aberdeen Holdings is a diversified group holding company that has ventured into packaging, tea exports, global commodity business, renewable energy, aviation and herbal healthcare. The Group is owned by the Kassim brothers (founders of the Expolanka Group) and is headquartered in Colombo, Sri Lanka and has a global presence in Dubai, Singapore, Australia, Indonesia, Madagascar and India. Bio Extracts Ltd. is the herbalhealth care subsidiary of the group. Bio Extract operates a state of the art 80,000 square feet production facility in the suburbs of Colombo and has obtained GMP,... 


Larger presence of Sri Lankan exporters at Gulfood 2015 in Dubai

Published : 12:00 am  February 13, 2015  |  Category: Business  |  Leave a Comment  |  290 views  |  

  Fifty Sri Lankan companies participated at the Gulfood 2015 in Dubai from 8-12 February displaying food and beverage products such as tea, spices, processed food, soft drinks, biscuits, virgin coconut oil, dried fruit, herbal products, etc. The Sri Lanka Export Development Board (EDB) under the Ministry of Industry and Commerce and the Sri Lanka Tea Board (SLTB) in collaboration with the Consulate General of Sri Lanka in Dubai organised two country pavilions for tea and other food items. Gulf Food is the fast growing international trade fair for the food and beverage sector and the biggest in the MENA region. Five days exhibition attracted 4800 companies from across the world including... 


Page 7 of 692« First...56789...203040...Last »