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SLIM Nielsen Peoples’ Awards – where the choices of the people are all that matter

Interview with the President and Vice President of SLIM Following the announcement of the launch of the SLIM Nielsen Peoples’ Awards program for the 13th consecutive year, the President of SLIM, Mr. Pradeep Edward and the Vice President, Mr. Roshan Fernando shared with us the history, purpose and process of the only awards campaign in…

(0)Comments | February 11, 2019 2:57 pm

Sri Lanka Tourism powers second edition of So Sri Lanka IRONMAN 70.3

The world’s leading IRONMAN triathlon is taking place for the second time in Sri Lanka, showcasing the country as a global destination for international sporting events Sri Lanka Tourism Promotion Bureau will be the title sponsor of the So Sri Lanka IRONMAN 70.3 Triathlon, which will be held at Galle Face Green, Colombo on February…

(0)Comments | February 11, 2019 10:24 am

Anchor lead Fonterra denies Sri Lanka’s Politicians claims on Imported Milk Powder containing Pork fat

New Zealand-based diary group Fonterra that sell Anchor, Red Cow, Newdale, Raththi, Pedia Pro and Anlene  brands to the Sri Lankan market recently denied claims made by legislators that Fonterra products contain pork fat.   “These claims are completely false and we would like to reassure our consumers that all of our milk powder products…

(0)Comments | February 11, 2019 10:11 am

Sri Lanka Finance Ministry allocates Rs. 5 Bn to buy rice from farmers ahead of 2019 harvest

Sri Lanka’s Finance Ministry lead by Minister Mangala Samaraweera had allocated Rs. 5.0 billion to buy rice at guaranteed prices from farmers ahead of the upcoming major harvest season, the government informed recently.   The cabinet of ministers had approved the proposal by Finance Minister Mangala Samaraweera to provide Rs. 5.0 billion for paddy purchases….

(0)Comments | February 11, 2019 10:02 am

Sri Lanka rupee ends weaker as importer dollar demand weighs

Reuters – ** Sri Lanka’s rupee ended weaker on Friday as importers purchased U.S. dollars while releasing goods after a week-long strike by customs officers that left 6,000 containers stranded at the country’s main port was called off. ** The strike by thousands of officials began a week ago in protest at the sacking of…

(0)Comments | February 11, 2019 10:01 am

The malady of misaligned medical pricing

~ A thought-leadership By the Sri Lanka Chamber of Pharmaceutical Industry – www.slcpi.org The rapid growth of the world’s population, coupled with constant advancement in biotechnological and biomedical research, has given rise to more people needing access to frequently evolving treatment. With wealth disparity continually widening, this seemingly simplistic equation has shouldered a raft of economic,…

(0)Comments | February 8, 2019 8:32 pm

Hemas reports an operating profit growth of 46% as Atlas acquisition delivers on its peak season

CEO’s Review The Group reported a consolidated revenue of Rs.48.0Bn for the nine months ended December 31, 2018, indicating a Year-over-Year (YoY) growth of 37.8%, primarily driven by our acquisition of Atlas. Group operating profit stood at Rs.4.3Bn, a growth of 45.8% over the previous financial year. The profit attributable to equity holders of the…

(0)Comments | February 8, 2019 4:04 pm

Eminent lawyer Dr. K. Kanag-Isvaran highlights need for Tax Ombudsman at CA Sri Lanka’s 22nd Annual Tax Oration

President’s Counsel Dr. K. Kanag-Isvaran, who is one of the country’s most respected lawyers highlighted the need for a “Tax Ombudsman” in Sri Lanka while delivering the keynote speech at the 22nd Annual Tax Oration of CA Sri Lanka on “The Tax Collector and The Rights of the Taxed.”   “The need for a “Tax…

(0)Comments | February 8, 2019 10:41 am

Resilient Teejay posts 5th successive quarter of profit growth

Reports 9-month net profit of Rs 1.26 billion on sales of Rs 23.0 billion   Teejay Lanka PLC has achieved its fifth consecutive quarter of top and bottom line growth in the third quarter of 2018-19, demonstrating its resilience during a period of higher raw material and utility costs.   Reporting revenue of Rs 23.0…

(0)Comments | February 8, 2019 10:39 am

Fitch Rates Sampath Bank’s Basel III Sub Debt Final ‘A(lka)’

Fitch Ratings has assigned Sampath Bank PLC’s (A+(lka)/Stable) proposed Basel III-compliant subordinated debentures a National Long-Term Rating of ‘A(lka)’. The notes, which will total LKR7 billion and mature in five years, include a non-viability clause and will qualify as regulatory Tier II capital for the bank. The bank plans to use the proceeds to strengthen…

(0)Comments | February 8, 2019 10:34 am