News

Motor insurance premiums to fall

Following the 50 percent vehicle tariff reduction by the government a few weeks back, the insurance industry is considering a substantial reduction in motor insurance premiums for both new as well as existing policies, a top official representing the country’s insurance industry body said. Read More

TFC suffering a backlog of deposits

The Chief Executive Officer (CEO) of The Finance Company Plc, K.J.Yatawara disclosed to The Bottom Line that the company has not been able to pay back some of the deposits due to a large back log of unpaid matured deposits for a period of an year. Read More

Hedging debacle likely to resurface

Sri Lanka’s economy which recorded an impressive Gross Domestic Product growth (GDP) of 7.1 percent for the first quarter of 2010 is to face a new battle in the economic front with the possible re-emergence of the Rs.46bn hedging debacle which could make the country’s situation even more precarious in the midst of a possible loss of GSP+ and a fallout with the United Nations. Read More

IFL depositors to march to Temple Trees

When Sakvithi and Golden Key duped the Sri Lankan people, the Central Bank said ‘we told you guys to invest in registered finance companies which are under the supervision of the Central Bank—so there’s nothing we can do’.
But in this case what does the Central Bank have to say, Read More

GREG invests in Dankotuwa

As per our exclusive news report last week, Environmental Resources Investment PLC (ERI/GREG) Friday announced that it has entered into an agreement with the troubled Dankotuwa Porcelain PLC (DPL) to inject cash and to resurrect the company. Read More

IRs. 500mn capital loss at Nation Lanka Finance PLC

Former Ceylinco Finance PLC, now ‘Nation Lanka Finance PLC’ (NLF PLC), in a letter to its shareholders, has called for an Extraordinary General Meeting on July 16 to notify that there has been a ‘Serious loss of Capital’ amounting to Rs. 500mn as of March 31, 2010. Read More

Belly ache

We hear that a corporate big wig currently serving as a consultant to a blue chip company, cynically referred to as the ‘best corporate rouge’, following an infamous court case, had suffered from a belly ache, after he ate a piece of cake from a ‘coffee break’ in one of the five-star hotels the blue chip owns, which smells of spice. Sin men… Read More

Brandix, Save the Children build community well

Life sustaining water was brought literally to the doorsteps of 67 families in remote Myilanthanai village in Batticaloa recently, when Brandix and Save the Children Sri Lanka commissioned a community well in the heart of the settlement. The womenfolk of the community no longer need to make a four kilometre trek in search of water for their domestic needs, as the 25-metre-deep well adjacent to the pre-school has a plentiful supply of clean water. Read More

World’s first borderless LG TV

Welcome to a limitless world of entertainment. Prepare yourself for a whole new viewing experience. With the latest LG’s innovative Borderless Design, your TV will make a statement even when its off because LG’s Borderless TV goes beyond borders.
Unlike conventional TV’s, LG’s Borderless TV features a seamless edge to edge panel that sets a new standard in style. The unique single layer design virtually eliminates the space between the screen and the slim bezel so that they blend together seamlessly. Added to this is a single colour finishing that elegantly matches the colour of the screen and the bezel. Read More

Emirates SkyCargo appoints Asia GSA in Cambodia

Emirates SkyCargo has expanded its operations to Cambodia after a surge in demand for reliable air cargo services from the Southeast Asian nation. The Dubai based carrier has appointed Asia GSA as its sales agent in Cambodia.
In recent years, the Cambodian garment industry has grown exponentially as an increasing number of manufacturers, including brands like GAP, Old Navy, Wal-Mart and Kmart look to the country to produce quality clothing at cheaper rates than in Europe, the US or even some other Asian countries. It is now the biggest industry in Cambodia, accounting for a whopping 70 percent of the country’s exports. Read More

Other News
  • Qatar migrant workers to be protected

    The Government of Sri Lanka is to implement the model contract on July 1 under its existing bilateral labour agreement with the Government of Qatar to ensure that the rights of migrant Sri Lankan workers are protected, a top official has said. Read More

  • Asian Marketing Guru becomes Honorary Fellow of SLIM

    Hermawan Karthajaya, who has co-authored several books with Prof. Philip Kotler was made an Honorary Fellow of the Sri Lanka Institute of Marketing (SLIM) at the recent board meeting of the Asian Marketing Federation (AMF) in Bali, Indonesia in appreciation of his outstanding contribution to Marketing. Read More

  • Aspic Chairman clarifies position of IFL

    Clarification for the Article “IFL and CIFL depositors want directors brought to book” published June 13, 2010.
    In view of the article above, the Group Chairman of Aspic Corporation, Deepthi Perera expressed the need to clarify the wrong impression could affect the current operations of CIFL which is an independent entity from CIFL Asset Management Limited. Read More

  • Sugar, alcohol and fags up in price

    Sri Lanka on Friday increased levies on sugar imports by five rupees, a cigarette by one rupee and on a proof litre of spirits by another 50 rupees, the Treasury said.
    Taxes on sugar imports have been increased as world prices are expected to come down in future, Read More

  • Flydubai launches Lankan operations

    flydubai, Dubai’s first low cost airline, notched up its fourth new destination in a week last night when its inaugural flight to Sri Lanka touched down in Colombo. Read More

  • Hemas Southern Hospitals ‘Lengathu’ Loyalty Card

    Hemas Southern Hospitals is introducing a Loyalty Card in keeping with their corporate policy of lending a hand to their regular customers. Read More

  • Computer touch system directory mainly for tourists

    SLT Publications (Pvt) Ltd, prevalently known as Rainbow Pages, is looking forward in coming up with a new computer touch system directory to access information within this year mainly aiming the tourists. Read More

  • JWT young guns do it again

    The JWT team, comprising Dishan Coilparampil and Udara Withana, emerged ‘Clear Winners’ at the recently concluded ‘Young Lions’ TV Challenge conducted by the IAA and Metal Factor, and sponsored by Lipton... Read More

  • Hotels sector a record 61.0 % growth in Q1

    Hotels and restaurants sector experienced the fastest growth in economic output in Q1 2010, as its value addition jumped 61.0 percent on the heels of a (-) 16.7 percent for the same quarter 2009. Read More

  • Telecom holds Call Centre Star Awards

    Sri Lanka Telecom (SLT), the nation’s telecommunications powerhouse conducted its Call Centre Star Awards 2010, an awards ceremony aimed at recognising the top performers in the company’s Call Centres... Read More