All-time record price for Hingalgoda Tea Factory

Published : 12:00 am  November 13, 2014  |  Category: Business  |  Leave a Comment  |  240 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  |  245 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  |  181 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  |  189 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  |  175 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  |  83 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  |  82 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.... 


Bangladesh announces speedier trade pact in the offing

Published : 12:00 am  November 13, 2014  |  Category: Business  |  Leave a Comment  |  76 views  |  

Good news, prefer an FTA: Rishad Talks will conclude successfully: Ashan YoY bilateral trade jumps by 67% Minister of Industry and Commerce Tarik Ashan (third from left) greets Bangladeshi High Commissioner to Sri Lanka Tarik Ashan (second from left) yesterday in Colombo as Bangladeshi High Commission Colombo Counsellor and HOC F.M. Borhan Uddin (far left), Ministry of Industry and Commerce Secretary Anura Siriwardene(third from right), DoC DG R.D.S. Kumararatne (second from right) and EDB Chairman/CEO Bandula Egodage (far right) look on As bilateral trade with Bangladesh showed a strong rise, the country has signalled that it has now started moving towards the historic trade pact with... 


Renuka Holdings embarks on iconic real estate development

Published : 12:47 am  November 12, 2014  |  Category: Business  |  Leave a Comment  |  480 views  |  

Renuka Holdings PLC has received shareholder approval at the EGM held on 11 November to proceed with the group’s ambitious project to date – The Renuka Tower – at Galle Face Terrace.   The Renuka Tower will be a modern 28-storey tower providing ‘A’ grade office facilities built on company owned land at Galle Face Terrace and Uttrananda Mawatha, Colombo 03. Once completed, the tower will have 200,000 sq. ft. of rentable office space and parking for more than 200 cars. The tower will also have corporate entertainment areas, conference facilities, dining, recreation and all the modern necessities required to create a pleasant and safe working environment. Renuka Holdings PLC is a diversified... 


Taiwan Textile Fairs in South Asia 2014 begins 24 Nov.

Published : 12:46 am  November 12, 2014  |  Category: Business  |  Leave a Comment  |  250 views  |  

The Taiwan Textiles Fairs in South Asia 2014 will bring together leading suppliers of textiles and related products from Taiwan, in order to showcase innovative and high performance functional textiles to Sri Lankan apparel manufacturers, on 24 and 25 November at the Grand Crystal Ballroom of the Taj Samudra Hotel. The Sri Lanka apparel industry is set for strong growth on the back of continual positive growth in the economy, with 7.8% growth year-on-year in the second quarter. The apparel industry, which contributes 15.9% to the economy, is on track to achieve the export target of US $ 5 billion by 2016, buoyed by rising export demand. The Taiwan Textile Fairs in South Asia 2014 is an excellent... 


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