Published : 12:00 am  December 4, 2014  |  Category: Business  |  Leave a Comment  |  160 views  |  

The legal battle between the marks ‘LuvEsence’ and ‘LUV SL’ was instituted by the proprietor of the former mark, Janet Lanka Ltd. (Plaintiff), the pioneer in the manufacture of personal care and beauty products around 3 February 2014 to restrain the corporate giant ODEL Plc (Defendant) from preventing and interfering with the use of their (Janet’s) mark ‘LuvEsence’. This Case No. 05/2014/IP was filed in the Commercial High Court of Colombo in consequence to the numerous attempts made by ODEL to prevent Janet from using their mark ‘LuvEsence’ on the frivolous basis that it was confusingly similar to ODEL’s mark ‘LUV SL’. Janet developed the Sri Lankan brand ‘LuvEsence’... 

Ceylon Chamber invites Slovak to target Indo-China markets via Sri Lanka

Published : 12:00 am  December 4, 2014  |  Category: Business  |  Leave a Comment  |  52 views  |  

The Ceylon Chamber of Commerce invited Slovakia, a eurozone country, to utilise Sri Lanka’s maritime advantage and trade relationship with India and China to access the markets of those two countries. “Our connectivity to China and India is very good, so does our trade relationship. We already have an FTA with India and a one with China is in the offing which will give Slovakian investors an opportunity,” said Ceylon Chamber of Commerce Secretary General/CEO Mangala P.B. Yapa. Yapa made this statement when the State Secretary of Foreign and European Affairs of the Slovak Republic, Peter Burian, visited the Ceylon Chamber of Commerce last week. In response to Yapa’s invitation, Burian... 

FCCISL signs MOU with Qingdao Chamber of E-Commerce

Published : 12:00 am  December 4, 2014  |  Category: Business  |  Leave a Comment  |  58 views  |  

FCCISL signs MOU with Qingdao Chamber of E-Commerce, Qingdao China (from left): FCCISL Secretary General Ajith D. Perera, FCCISL President Ajith Wattuhewa, Qingdao Chamber of E-Commerce President Shu Chun Wang and Coordinator Lalith K. Nallaperuma  Read More →

LTL Group inks financing for another offshore power project

Published : 12:00 am  December 3, 2014  |  Category: Business  |  Leave a Comment  |  1 views  |  

LTL Group’s flagship company, Lakdhanavi Ltd achieved another key milestone in its offshore expansion strategy when a $ 35 million long term syndicated loan agreement was signed with five financial institutions in Dhaka, Bangladesh last week. From left: NDB Capital CEO Kanti Kumar Saha, Hatton National Bank Senior Manager Project Finance Dilunika Jasinghe, Commercial Bank of Ceylon Senior Manager Investment Banking Sushara Vidyasagara, Corporate Finance & FCBU Assistant General Manager Shashi Kandambi Jassim, Lakdhanavi CFO Ravindra Pitigalage, Lakdhanavi GM (Offshore Operations) U.G. Sarath, Commercial Bank, Dhaka Country Manager Ajith Narampanawa, IDCOL, Bangladesh Director (Investment)... 

Adam Investments ups PCHH stake to near 51%

Published : 12:00 am  December 3, 2014  |  Category: Business  |  Leave a Comment  |  260 views  |  

Adam Investments Ltd. yesterday purchased a further 20,000,000 ordinary shares of PCH Holdings Plc (PCHH) at a price of Rs. 2.50 per share thereby increasing its stake to 50.89%. Adam Investments Ltd., confirmed the purchase and the mandatory offer to acquire the balance issued and fully paid voting shares of PCHH in a corporate disclosure sent to the Colombo Stock Exchange yesterday. The mandatory offer was earlier suspended pending the determination of a case filed with regards to Bieco Link Carbons Ltd., a fully-owned subsidiary of PCHH. Adam Investments intentions to revive Bieco Link Carbons Ltd to its former glory were evident in that, just last week, it conducted at its factory at Giriulla,... 

Japanese Govt. confers prestigious decoration on Merrick Gooneratne

Published : 12:00 am  December 3, 2014  |  Category: Business  |  Leave a Comment  |  1 views  |  

The Government of Japan announced on 3rd November, the conferment of “The Order of the Rising Sun, Gold Rays with Rosette” upon Merrick Gooneratne in recognition of his invaluable contributions in promoting Japan and Sri Lanka relations. Japanese Govt Merrick Gooneratne    Nobuhito Hobo, Ambassador of Japan, formally conferred the order upon Mr. Merrick Gooneratne on behalf of the Government of Japan at a special ceremony held on 28th November, at the Ambassador’s residence in Colombo in the presence of a distinguished gathering. Merrick Gooneratne was a Research Scholar who lived and studied in Japan under the Monbukagakusho scholarship scheme and earned his Post Graduate Research... 

Renuka Holdings Rs. 1 b Rights issue oversubscribed

Published : 12:00 am  December 3, 2014  |  Category: Business  |  Leave a Comment  |  184 views  |  

Renuka Holdings PLC’s Issue for Rs. 1.03 billion closed on 28 November after being oversubscribed, attracting applications over and above the number offered under the rights. The company offered a total of 44,517,313 ordinary voting shares at Rs. 21 each and 6,428,415 million ordinary non-voting shares at Rs. 15 in order to fund its property development project – The Renuka Tower – a modern 28 storey tower providing ‘A’ grade office facilities built on company owned land at Galle Face Terrace and Sri Uttrananda Mawatha, Colombo 03. Executive Director Shamindra Rajiyah said, “The overwhelming response to the Rights Issue demonstrates the confidence and trust placed on Renuka by our... 

Forum to commemorate SAARC Charter Day on 8 December

Published : 12:00 am  December 3, 2014  |  Category: Business  |  Leave a Comment  |  602 views  |  

The South Asian Federation of Accountants (SAFA) and the Association of Management Development Institutions in South Asia (AMDISA) being SAARC recognized bodies are celebrating SAARC Charter Day on 8th December 2014 from 2.00-5.00pm at Hotel Taj Samudra, Lower Crystal Room. CMA and CPM will organize a joint seminar to raise the awareness of the members about SAARC and its activities, thereby enhancing South Asian Identity and Solidarity within the Region and beyond. CMA Sri Lanka is a member of the South Asian Federation of Accountants (SAFA). SAFA is the regional body of Professional Accountants comprising the Chartered accountancy and cost and Management Accountancy bodies in South Asia. Currently... 

SLASSPA holds Annual General Meeting

Published : 12:51 am  December 2, 2014  |  Category: Business  |  Leave a Comment  |  387 views  |  

The 10th Annual General Meeting of SLASSPA was held under the theme ‘Thinking Beyond Borders’ on 30 November at the Hilton, Colombo. It was held under the patronage of Additional Secretary Ministry of Defence and Urban Development and Competent Authority, Damayanthi Jayaratne. Delivering the opening address, SLASSPA President Major Tissa Aluwihare said that the presence of the governing authority for civil security was a great boost and inspiration for the entire industry and was a motivating thought for all stakeholders in the quest to uplift the industry. Speaking further, he said: “Tonight for the first time ever we hold the SLASSPA AGM not only in the presence of the governing authority... 

Vietnam calls for FTA

Published : 12:50 am  December 2, 2014  |  Category: Business  |  Leave a Comment  |  286 views  |  

 ‘Appointing Lanka’s first trade official to Vietnam’ – Rishad  ‘Bilateral trade should not be just rice and tea’ – Kieu Thu  YoY bilateral trade surges by 88%  ‘Time to explore joint apparel synergies too’ – Kieu Thu Stepping up its trade cooperation with Sri Lanka, Vietnam said that it was working towards establishing a groundbreaking FTA with Sri Lanka. In view of this, Sri Lanka has promptly appointed its first-ever trade officer to Vietnam, the world’s fifth largest apparel exporter which is ready to partner with Sri Lanka’s own apparel industry. “There is huge unrealised trade potential between both countries that we need to explore. Trade... 

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