Slow progress at Packer’s casino site
Work is proceeding very slowly at the site of Australian casino baron James Packer’s luxury integrated resort opposite the Associated Newspapers (Lake House) office in Fort. Parliamentary approval as a strategic development investment has been delayed by protests from religious groups.
CCTV to nab reckless motorists on Katunayake Expressway
A new system including CCTV is to be introduced to crack down on reckless motorists and penalise them for speeding and other traffic offences on the new Colombo- Katunayake Sri Lanka-China Friendship Expressway, a top official said. Discussions are now underway between the Motor Traffic Department and the Police City Traffic to finalise the modalities [...]
SL considers investments in foreign coal mines
Sri Lanka is exploring the possibility of investing in coal mines overseas to beat an anticipated price hike in foreign markets, official sources said. A high-powered committee headed by a top official at a government development agency has been appointed to scout for potential deals in coal producing countries. The committee is currently focusing attention [...]
More than 1,210 delegates at Commonwealth Business Forum
Sri Lanka is setting the stage for this month’s Commonwealth Business Forum (CBF) aiming to showcase the country’s potential for foreign investment and knowledge based services while opening business match making, partnership and networking avenues for 1210 participants, high level officials said. The CBF will be held on November 11 to 14 at the Cinnamon [...]
Hayleys’ bungalows soon boutique hotels
The Hayleys Group has plans to renovate some of its plantation bungalows to upmarket boutique hotels, officials said. To start off this process Hayleys plans to refurbish its Nuwara Eliya estate bungalow. “This is a circuit bungalow and we plan to upgrade it and maybe brand it with our Amaya Hotels chain,” an official told [...]
Krrish site to be offered to CHOGM business delegates
The Government is to offer the Transwork site in Colombo now leased out to India’s Krrish group to potential investors attending the Commonwealth Business Forum, official sources said. This is because the company has failed to make the final lease payment and amidst accusations of corruption linking a top state official to the deal. The [...]
Minister, please help our doctors qualify younger
Report prepared by a research team comprising Prof. Chula Goonasekera, Prof. M.H. R Sheriff, Dr. P.M. Amarakoon, Dr. T.A. Arapola, Dr. A.A.N. Dharmarathne, Dr. M.S.F. Silmiya, Mahes Salgado and Dr. K. Pethiyagoda of the Universities of Peradeniya and Colombo Approximately 1000 medical graduates qualify annually from the six, long-established state-run medical schools in Sri Lanka [...]
CHOGM: Unprofessional media arrangements
Some days back, when the Business Times wanted pictures of foreign business leaders attending the Commonwealth Heads of Government Meeting (CHOMG), a top official said he would try to get it from the Commonwealth Secretariat’s London headquarters but that it would take a couple of hours! No fault of his anyway. The problem lies squarely [...]
Wide range of speakers at Commonwealth Business Forum
A fine array of speakers from different parts of the world will take part in panel discussions, chair discussions and bring diversity and experience to the Commonwealth Business Forum (CBF) in Colombo. The meetings on November 11-14 are a precursor to the Commonwealth Heads of Government Meeting on November 15-17, according to a draft programme [...]
Australian casino operator in final talks with SL Govt.
Crown Ltd, the Australian-based casino investor, said this week that it is in final negotiations with the Sri Lankan Government and local authorities over the country’s first luxury integrated resort in Colombo. “… (we) are hopeful that the Sri Lankan Parliament will soon debate the final regulatory and tax framework allowing the project to proceed,” [...]
Agriculture: Food for thought
Sri Lanka which was known in history as “The granary of the East” has turned into a dump yard for foreign food today. At the time of independence, Sri Lanka was a flourishing prosperous agriculture producing country. The main foreign exchange earner was primary agriculture produce-tea, rubber and coconut. The country was self-sufficient or near [...]
Sri Lanka awarded “Outsourcing Destination of the Year” Award
Sri Lanka has been awarded the prestigious “Outsourcing Destination of the Year” award by the National Outsourcing Association (NOA), UK at the award ceremony held in London on October 23. Expressing views on Sri Lanka’s magnificent achievement, SLASSCOM Chairman Madu Ratnayake said “we are delighted that Sri Lanka has been awarded the prestigious ‘Outsourcing Destination [...]
Sriyan appointed MD/CEO of Textured Jersey Lanka
Sriyan de S. Wijeyeratne, formerly country director for Microsoft Sri Lanka, has been appointed Managing Director/CEO of Textured Jersey Lanka PLC with effect from November, the company announced on Thursday. Mr. Wijeyeratne was responsible for setting up and building the Microsoft presence in Sri Lanka, the company said adding that he previously worked at Suntel [...]
‘Seylan Rush Hour’ offers amazing credit card deals to Lankan consumers
Seylan Bank, hot on the heels of the recent mammoth offers on its credit cards, is taking the benefits of credit cards to yet another exciting level with the launch of its latest promotion – Seylan Rush Hour. Commencing Wednesday 30 October all Seylan Bank credit cardholders were eligible to a fabulous bonanza with surprise [...]
Marco Perera, lone crusader of GK depositors ends death fast
Jude Marco Perera, President of the GK Depositors Hope and Solidarity Organisation, who staged a fast-onto-death protest outside the residence of former Ceylinco chairman Lalith Kotelawela was arrested Thursday on a complaint made by Mr. Kotelawala of blocking the entrance to his residence and prevented the residents from coming out or going in, Bambalapitiya police [...]
Vipula launches book on meditation and peace of mind
Well-known tourist industry personality Vipula Wanigasekera launched his book “Pointers to Enlightenment” this week in Colombo saying this publication could be a spring board to tap markets particularly in the west that are looking for meditation and peace of mind. “As for those who are in the tourism field, we need to ask ourselves why [...]
Sri Lanka wrongly identified as an agricultural country, Laugfs Chief says at STBC meeting
Sri Lanka continues to be wrongly identified as an agricultural country when there is ample historical evidence to show that the country was a popular trading and merchandise destination carrying out business along the ‘Silk Route’, a self-made successful entrepreneur said this week. Addressing members of the Sunday Times Business Club (STBT) at their monthly [...]
Sri Lanka Chamber of Medical Devices to deliver quality healthcare to the nation
The Sri Lanka Chamber of Medical Devices has plans to deliver quality healthcare to the nation, according to S. Premakumar Weyhenage, President of the Chamber. Speaking to the Business Times on the sidelines of the inauguration of the Chamber last Tuesday at Kingsbury Colombo, he said “The formation of the organisation is to deliver quality [...]
Fiji Island appoints Parakrama as the Hony. Consul in Sri Lanka
Parakrama Dissanayake, Chairman/CEO – Aitken Spence Maritime and Cargo Logistics and Director of Aitken Spence PLC, has been appointed as Fiji’s first Honorary Consul General in Sri Lanka. The presentation of the appointment was made by Yogesh J Karan, High Commissioner of Fiji on behalf of the Fijian government at a reception held recently in [...]
Autodrome PLC promotes eco-friendly range of tyres with brand Ecopia
The Autodrome PLC, sole importer of Bridgestone tyres, is promoting the concept of safety, reliability and eco-friendliness by introducing a range of Ecopia tyres, company officials said. Ecopia comes for each type of vehicle and its ‘rolling resistance’ is a key to reduce carbon dioxide CO2 emission during usage of tyres. Bridgestone through its innovative [...]
Sri Lanka’s super and semi luxury vehicle registration fee records revenue of over Rs. 1 billion
Sri Lanka’s super and semi luxury vehicle registration fee is annually bringing revenue of over Rs. 1 billion into state coffers, a top official said. The income from the registration of these vehicles has recorded a new high of Rs. 1.25 billion last year while in the first nine months of this year the revenue [...]
Car Mart renews 35 year-old partnership with Mazda
Car Mart, sole agent for Mazda in Sri Lanka for the last 35 years and the driving force behind the Mazda brand in the country, recently renewed its partnership agreement. The agreement was signed at the Car Mart head office in Colombo recently in the presence of Senaka Amerasinghe, Managing Director – Car Mart, Yasendra [...]
Apollo Tyres expands its footprint in Sri Lanka
India-based Apollo Tyres, a leading tyre major, made further inroads into the Sri Lankan market with the opening up of its first branded retail outlet Apollo Zone at Galle Road, Wellawatte, Apollo’s local business partner, Ideal Wheels and Tyres (Pvt) Ltd said in a media communique. This outlet is designed to provide customers with an [...]
DIMO introduces most intelligent Mercedes-Benz S-Class
Diesel and Motor Engineering PLC (DIMO), the authorised distributor for Mercedes-Benz in Sri Lanka, is planning to sell at least 100 units of Mercedes-Benz S-Class reaching out to a new generation of customers, company officials said. Mercedes-Benz aims to reach new target groups with this S-Class model, including those who never wanted to drive a [...]
Lankan public enterprises need an urgent solution
The number of State-Owned Enterprises (SOES) in Sri Lanka, rose from 28 in 1958 to 107 by 1977. Despite the economic liberalisation in 1977, the share of public sector in the economy remained high in the 1980s. In the mid 1980s there were over 280 public enterprises out of which 165 were identified as commercial, [...]
Revenue drop at Dipped Products after residents force factory closure
The Dipped Products Group’s Hand Protection Sector posted a decline in revenue due to the closure of its production operations at Nedungamuwa, Rathupaswala following protests by villagers, the company said this week. “These protests were based on the misconception that the low pH in the wells of the area was caused by the treated effluent [...]
Club Hotel Dolphin re-opened
Club Hotel Dolphin in Waikkal, a 4-star property owned by Serendib Leisure Hotels PLC, was re-opened on Friday, officials said. The hotel which underwent a 6-month refurbishment of 100 rooms costing Rs. 500 million starting May now has 99 superior rooms, 50 chalets and a suite. Club Hotel Dolphin witnessed a steady growth during 2007-2012 [...]
Famous MD products now on shelves of UK’s Tesco supermarkets
Lanka Canneries has entered into an agreement with Tesco PLC UK, one of the world’s leading retail chains to make its products available at Tesco supermarkets in the UK. The premier Sri Lankan company manufactures, distributes and exports natural fruit juices, jams, sauces, cordials and other products marketed under the MD brand, the company said. [...]
Nationalisation, biggest blunder in post-independence Sri Lanka
One of the biggest post-independence economic blunders Sri Lanka committed was the nationalisation of private businesses, commencing from private passenger transport system to private plantation companies, a top entrepreneur has said. Addressing members of the Sunday Times Business Club (STBT) at its monthly meeting this week at the Cinnamon Lakeside Hotel, W.K.H. Wegapitiya, Chairman, Laugfs [...]
Over 70 bank customers registered for CRIB reports
Now any Sri Lankan with a bank account can check whether they are ‘creditworthy’ with just one click, according to the Credit Information Bureau (CRIB). At CRIB’s annual symposium last month in Colombo, the bureau said that with their ‘iReport’ facility individuals are now free to assess their credit history and manage their future borrowings. [...]
Ansell workers in Sri Lanka on strike against lawlessness
Sri Lanka’s majority of multi-national company employers operating in free trade zones in the island are constantly violating labour laws preventing the right of workers to join legitimate trade unions for bargaining and negotiations, a trade union leader told a media conference in Colombo on Thursday. On paper, the country’s labour laws are extremely favourable [...]
J.L. Morison to expand pharmaceutical manufacturing
Hemas Holdings, new owners of J.L. Morison Son & Jones (Ceylon) (JLM), is looking at expanding its generic pharmaceutical manufacturing operation at JLM, officials said. “This is still at a planning stage and we will know the cost structure by early next year,” JLM CEO Trehan Perera told the Business Times. He added that the [...]
SLIC officials remain amidst corruption claims
Officials of the Federation of Sri Lanka Insurance Corporation Trade Unions (FSLICTU) were not informed, as of Friday, as to whether top five management officials at the Sri Lanka Insurance including the managing director have been removed or not. Sarath Nandalal, spokesperson for the Federation told the Business Times that Treasury Secretary P.B. Jayasundera had [...]
Prasantha, new Hony. Consul for Seychelles
Prasantha Lal De Alwis, President’s Counsel, has been appointed the Honorary Consul for Seychelles in Sri Lanka with effect from October 4th. Mr. De Alwis had his secondary education at Ananda College, Colombo. He possesses a LL.B and LL.M on Law of the Sea and Human Rights from the University of Colombo. He started his [...]
Market Research Society’s first ever workshop for interviewers a grand success
The Market Research Society of Sri Lanka (MRSSL) conducted a half day workshop recently for over 100 professionals belonging to the data collection departments of market research agencies. The event received an overwhelming response from the audience, which comprised personnel drawn from almost all the leading market research agencies, as well as personnel from different [...]
NEM Construction main sub-contractor for Colombo – Katunayake Expressway
NEM Construction (Pvt) Ltd, the main sub-contractor of the Colombo-Katunayake Expressway Project says that they were involved in the project from the land preparation stage. A company press release said that NEM was involved in Sea Sand Filling works, Earth Filling, Construction of Aggregate Base Course (ABC) and some parts of Asphalt Laying. “This terrain [...]
Etihad Airways to increase Lankan flights to double daily
Etihad Airways, the national airline of the United Arab Emirates (UAE), is increasing its Abu Dhabi-Colombo service from seven flights per week to a double daily schedule from February 2014. Operated with an A320 aircraft fitted with 16 Pearl Business Class seats and 120 Coral Economy Class seats, the new service will add over 1,900 [...]
Dickwella Resort welcomes festive season with cake ceremony
Dickwella Resort & Spa in southern Sri Lanka, was first off the tracks to herald the 2013 festive season, holding the traditional Christmas cake mixing ceremony on October 12. Manager Mirza Borham and Executive Chef Priya Abeyesinghe together with other hotel officials and guests took part in a ceremony that takes place annually in most [...]
Succession Management; Key to organisation’s success
For an organization’s success, succession management plays a key role, says Mario Ferraro, Director of Human Capital Consulting Team in Deloitte Southeast Asia. He made this comment at a forum hosted by hSenid Business Solutions in Collaboration with Deloitte Consulting titled ‘Succession Management – A critical factor for business sustainability’ last week at the Hilton [...]
Every Sri Lankan should be a brand ambassador for CHOGM
Every Sri Lankan should be a brand ambassador during the CHOGM (Commonwealth Heads of Government Meeting) because the visitor who comes to this country is going to engage in some platform or some activity connected with the public, noted Neela Marikkar,Chairperson, Grant Erickson at a recent public discussion. She was speaking at a discussion organized [...]
Singer launches the Cutting-Edge Huawei Ascend P6 Smartphone
Singer Sri Lanka, the country’s number one brand and the national distributor for Huawei, recently unveiled the stunning Huawei Ascend P6, a revolutionary new smartphone that sets the benchmark in smartphone styling, technology, and performance. Available at all Singer Plus, Singer Mega, and Sisil World stores island-wide, the Huawei Ascend P6 combines ultimate slimness, amazing [...]
HNB Assurance ‘Takes on tomorrow’ with its new Customer Service Centre in Kollupitiya
Sri Lanka’s innovative Insurance solutions providerHNB Assurance has established a new Customer Service Centre to facilitate the provision of Motor, General and Life Insurance solutions to its customers. The newCustomer Service Centre (CSC) is now located on DharmapalaMawatha, Colpetty, Colombo 03 with an appealing exterior outlook and a fully functional interiordécor to give our customers [...]
LB Finance signs up with Lanka Clear to become a SLIPS participant
LB Finance PLC, the company with the largest public deposit base among the non-bank financial institutions in Sri Lanka, recently entered into an agreement with Lanka Clear to become a Participant of the Sri Lanka Interbank Payment System (SLIPS). SLIPS, is an online interbank Electronic Fund Transfer (EFT) system which enables the movements of funds [...]
Vallibel Finance goes children friendly
As the name-bearer of an illustrious conglomerate Vallibel Finance forayed into the robust financial sphere with unusually high expectations and wasted no time in making its mark. Growing alongside its impressive business portfolio is a thoughtfully-crafted social service mandate that amplifies the company’s home-grown values on which it builds its business. Here, CSR is an [...]
NDB in rapid expansion – 77th branch opened in Nuwera Eliya
NDB opened its latest branch amidst the peaks of NuwaraEliya, offering a wide array of financial services to the people of the area. With the opening of this branch, NDB’s network now extends to 77 branches across the island. The picturesque city of NuweraEliya lies atop the central hills bustling with energy and exuberance. Today, [...]
Sony unveils New 4K LED TV/ HiFi Systems for the best home entertainment experience
Sony Electronics is adding two new 4k LED TVs to its X series line-up.Sony is bringing to market a 65-inch and 55-inch screen sizes in the X series.4K LED TV,with four times the resolution of full HD(3,840 x 2,160 pixles),delivers the most immersive home entertainment experience, with the highest picture quality regardless of the content [...]
Customers the key beneficiaries of financial strength of Ceylinco Life – R. Renganathan
The Life Fund of Ceylinco Life, Sri Lanka’s market leader in the field of life insurance, surpassed Rs 50 billion in August this year, on the back of strong operational performance and the company’s investment strategies. In this interview sent as a media statement, the company’s Managing Director/CEO R. Renganathan speaks on what this means [...]
SLI holds the 7th Life Insurance Congress, recognising sales achievers at Heritance Kandalama
Sri Lanka Insurance held its 7th Life Insurance congress this month to facilitate its top performing Life Insurance sales personnel at the Heritance Kandalama. Over three hundred top achievers, Acting Chairman of Sri Lanka Insurance and the Senior Management of SLIC participated at the congress. The sales achievers who achieved the highest levels at a [...]
CIMA business case awards night: Celebrating success
Competition grows; every year sees the entrance of new businesses with new ways of serving their customers, new models of business, and new technology. Every year, companies learn from their mistakes, turn around defeat and break new ground. The CIMA business case awards competition provides them with an arena in which they can pit their [...]
