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

Published : 12:00 am  October 9, 2014  |  Category: Business  |  Leave a Comment  |  406 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  |  240 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  |  280 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  |  187 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  |  367 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... 

Multilac customers enjoy all-expenses paid tour onboard Super Star Gemini

Published : 12:33 am  October 8, 2014  |  Category: Business  |  Leave a Comment  |  184 views  |  

Setting off yet another edition of the ‘Multilac Cruise Savari’, Multilac took 34 of its loyal customers on a luxury cruise onboard the Super Star Gemini from 7-9 September. All expenses for the cruise, which included a three-day round trip from Colombo to Singapore with exciting pit stops, were borne by Multilac. The customers were selected following a draw and the tour was organised as an appreciation of their loyalty to the brand, which has helped Multilac sustain its position as a leading paint manufacturer. Upon their arrival at Singapore and following a wonderful greeting by the Multilac representative, the group was taken aboard the Super Star Gemini. Thus the first day of the tour... 

Vallibel Finance arrives in Kalutara

Published : 12:32 am  October 8, 2014  |  Category: Business  |  Leave a Comment  |  191 views  |  

Bolstering its islandwide footprint, Vallibel Finance further expanded its customer reach with the opening of its latest centre in Kalutara. The centre consists of a modern and customer-friendly setting designed to offer the best service to customers in a convenient and easily accessible location, responding to the evolving financial needs of the south-western coastal city. The opening ceremony was attended by a large gathering of the business community of Kalutara, customers and suppliers of Vallibel Finance and well wishes together with senior management and staff members of Vallibel Finance and Vallibel Finance Managing Director Jayantha Rangamuwa, was the honoured Chief Guest at the opening... 

Secondary market rates steady as activity dries up

Published : 12:31 am  October 8, 2014  |  Category: Business  |  Leave a Comment  |  176 views  |  

By Wealth Trust Securities A shortened trading week, in which the weekly Treasury bill auction was cancelled, saw activity dry up in secondary bond markets yesterday. A limited amount of activity was witnessed on the two 2018 maturities (i.e. 1 April 2018 and 15 August 2018) within the range of 6.65% to 6.70% and 6.72% to 6.74% respectively, the 1 July 2019 at 6.75%, the 1 July 2022 at 7.40% and the 1 January 2024 within 7.70% to 7.72%. Meanwhile in money markets, overnight call money and repo rates decreased marginally to average 6.12% and 6.14% as no auctions under Central Bank’s Open Market Operations (OMO) were conducted yesterday. Surplus liquidity in money markets stood at Rs. 18.91 b. Rupee... 

Abans unveils versatile Bamix

Published : 12:30 am  October 8, 2014  |  Category: Business  |  Leave a Comment  |  186 views  |  

Sri Lankan housewives once again have the opportunity of a small but very effective and versatile helper in their kitchen, thanks to Abans. The Bamix is back from Switzerland to lighten work in the kitchen more efficiently than all other blenders, grinders, liquidisers, beaters, mincers and choppers put together. The appliance offers a combination of power, versatility and durability and has been proven and tested for over 60 years. This Swiss-made electric immersion blender quickly chops, purees, beats, mixes, blends, stirs and emulsifies in the deepest pots and bowls with the greatest of ease. It has an ergonomic design that fits comfortably in the hand while its two-speed motor is quiet and... 

India’s ‘Metro Man’ Sreedharan to talk in Colombo on Friday

Published : 12:15 am  October 7, 2014  |  Category: Business  |  2 Comments  |  419 views  |  

The Sri Lanka-India Friendship Society in association with Bandaranaike Centre for International Studies will hold a special presentation by Dr. E. Sreedharan on his work and lessons for Colombo at the BCIS auditorium on 10 October. Infrastructure is the back bone of any prosperous economy. Any constraints in this area can impair or retard the growth and progress of a country. India was one such country that had great potential in terms of demographics but lacked the infrastructure to attract foreign investments in order to grow and progress. Realising this weakness the nation embarked on strengthening its infrastructure by entrusting and encouraging talents like Sreedharan, who is better known... 

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