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‘Lanka IT sector to hit $1B mark next year’-EDB

Sri Lanka’s surging IT and BPO exports would hit the critical dollar one billion mark as early as next year, surpassing previous expectations! And London Stock Exchange and HSBC have praised the Lankan IT sector ‘with joy’, as revealed on 05 December in Jaffna. And the pioneering Northern IT Exports forum by EDB & ICTA…

(0)Comments | December 5, 2014 2:36 pm

Hemas Holdings sells Hemas Power to Sri Lankan consortium

Hemas Holdings PLC divested its investment in Hemas Power PLC to a consortium of buyers consisting of NDB Capital Holdings PLC, ACL Cables PLC and Trydan Partners (Private) Limited. Hemas disposed its entirety of 93mn shares (approximately 75 percent) of the total issued shares of Hemas Power PLC for Rs. 1.6bn at Rs. 17.90 per…

(0)Comments | December 5, 2014 12:25 pm

Google for kids coming soon

A Google search for “train” brings up a link to the closest Amtrak station, but chances are that’s not what an eight-year-old is searching for. Kids are probably more interested in Thomas the Tank Engine than the most up-to-date commuting schedule. That may be why Google is working on new, kid-friendly versions of some of…

(0)Comments | December 5, 2014 10:22 am

Stock Market Review – 04th Dec 2014

Colombo equities slid on Thursday as benchmark indices failed to maintain a second day of gains. The ASI failed to sustain the initial gains and closed lower at 7,254.80 (-19.63 index points or -0.27%) despite continuous foreign capital inflow. S&P SL 20 index lost 10.38 points or 0.26% to end at 4,056.54. Today’s losses were…

(0)Comments | December 4, 2014 10:58 pm

Child Development Officers boost childcare standards in plantations

CDOs with nationally-recognized diplomas inRegional Plantation Company estates to exceed 720  Children in estates managed by Regional Plantation Companies (RPCs) are now in the trained, capable and caring hands of 1,350 Child Development Officers (CDOs), 563 of them with nationally-recognized Diplomas. These Child Development Officers have contributed to marked improvements in child nutrition and health,…

(0)Comments | December 4, 2014 10:45 pm

Lubricant leader Chevron’s new Lankan plant goes live

Sri Lanka’s largest lubricant player, Chevron Lubricants Lanka PLC kicked off operations of its new state of the art blending plant at Lindel Industrial Estate, Sapugaskanda in the presence of Colleen Cervantes (President of Chevron Lubricants) on 04 December. Minister of Industry and Commerce Rishad Bathiudeen who arrived at the inauguration event met and discussed…

(0)Comments | December 4, 2014 4:04 pm

Sri Lanka improves ranking in global Corruption Perception Index

Sri Lanka having shown progress in its ranking over last year in Transparency International’s (TI) annual global Corruption Perception Index (CPI) released yesterday is a significant feature. Sri Lanka has gained 38 points and ranks 85th among the 175 countries monitored by TI, whereas it had gained 37 points and ranked 91 last year. The…

(0)Comments | December 4, 2014 1:01 pm

Dr. Harsha Cabral at helm of Tokyo Cement (Lanka)

President’s Counsel Dr. Harsha Cabral, a senior counsel with 27 years experience specializing in the fields of Company Law, Intellectual Property Law, Commercial Arbitration and Commercial Law & International Trade Law has been appointed as Chairman of Tokyo Cement (Lanka) PLC with effect from 01 December 2014. Dr. Cabral who is a Director of 15…

(0)Comments | December 3, 2014 7:02 pm

Commercial Bank receives licence from Central Bank of Myanmar

Sri Lanka’s largest private bank seeks to emulate its success in Bangladesh with second overseas operation The Commercial Bank has become the first Sri Lankan bank to be granted a licence by the Central Bank of Myanmar to operate a Representative Office in the South East Asian republic of more than 50 million people. “We…

(0)Comments | December 3, 2014 7:00 pm

Stock Market Review – 03rd Dec 2014

Colombo bourse bounced back on Wednesday where both indices witnessed notable returns amid notable foreign activity. Core index bagged 43.85 index points or 0.61% to end at 7,274.43 while 20-scrip S&P SL index advanced by 41.79 index points or 1.04% to close at 4,066.92. Positive price increases in counters such as John Keells Holdings (closed…

(0)Comments | December 3, 2014 5:26 pm