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- Today’s Front Page 21-05-2013
Mon, 20 May 2013 19:57:17 +0000 - - JKH soars to a $ 2 b company; market cap tops 10% mark
Mon, 20 May 2013 19:55:29 +0000 - Premier blue chip John Keells Holdings Plc’s (JKH) recent meteoric rise reached a climax yesterday when its market value crossed the $ 2 billion mark, thereby surpassing the 10% share of the CSE’s total. Share price of JKH yesterday hit an intra-day high of Rs. 298.50 before closing at Rs. 297.10, up by Rs. 12.20. [...] - Hayleys records highest-ever pre-tax profit of Rs. 5 b
Mon, 20 May 2013 19:53:55 +0000 - Group turnover up 13% 74.3 b Three keysectors Hand Protection, Purification Products and Transportation and Logistics individuallysurpass PBT of Rs. 1 b Group after tax profit up 119% to Rs. 3.6 b; net profit attributable to equity holders up 78% to Rs. 1.8 b Hayleys Plc., one of Sri Lanka’s leading conglomerates, yesterday announced an [...] - Nepal’s first Forbes dollar billionaire to expand investments in Sri Lanka
Mon, 20 May 2013 19:51:42 +0000 - Binod Chaudhary has an estimated US$ 200 m invested in Sri Lanka Has submitted a 75 m proposal to Govt. to build state-of-the-art cement plant in Jaffna Even before Forbes placed Binod Chaudhary in its 2013 annual global rich list, his love affair with Sri Lanka had begun with a foray into Colombo in 2000, [...] - Senior Director Tanky quits HNB Board
Mon, 20 May 2013 19:48:52 +0000 - HNB announced yesterday that N.G. (Tanky) Wickremeratne has resigned from the Board of Directors with effect from 16 May. Wickremeratne, a former Chairman of Hayleys Plc, was HNB’s Senior Director, a post which he assumed on 1 April. Reasons for his resignation coming just after a month of the latter move, were unknown. He joined [...] - Fitch affirms HNB at ‘AA-’
Mon, 20 May 2013 19:48:31 +0000 - Fitch Ratings has affirmed Hatton National Bank PLC’s (HNB) National Long-term rating at ‘AA-(lka)’. The Outlook is Stable. The agency also affirmed HNB’s outstanding subordinated redeemable debentures of Rs. 6 b at ‘A+(lka)’. Rating Action Rationale: HNB’s ratings reflect its strong domestic franchise in lending and deposit mobilisation as the fourth-largest bank in Sri Lanka, [...] - HNB’s Rs. 4 b debenture issue opens 6 June
Mon, 20 May 2013 19:48:12 +0000 - HNB’s Rs. 4 billion listed debenture issue will have its official opening on 6 June whilst the public can begin subscribing to it from 28 May. This is following the Colombo Stock Exchange approving in principle an Application for listing the debt securities of the Bank on the Main Board. HNB will issue 20 million [...] - A man walks along Galle Face green on a rainy day…
Mon, 20 May 2013 19:44:46 +0000 - A man walks along Galle Face green on a rainy day in Colombo 20 May, 2013. REUTERS/Dinuka Liyanawatte - FTZ workers protest against electricity hike
Mon, 20 May 2013 19:43:49 +0000 - Hundreds of workers at the Katunayake Free Trade Zone yesterday staged a protest against the sharp rise in electricity tariffs. The action was in support of joint protest by trade unions (Pic by Kumarasiri Prasad, Our Airport Correspondent) - Ranil says Govt. afraid of today’s strike
Mon, 20 May 2013 19:41:49 +0000 - The UNP said yesterday that the Government feared today’s massive strike against the electricity tariffs hike and was using various tactics to force the workers to keep away from taking part in the campaign. “The government is afraid of our strike campaign to be held tomorrow. It had even threatened Ceylon Electricity Board (CEB) employees [...] - Samina; Pakistan’s first woman to scale Mount Everest
Mon, 20 May 2013 19:40:57 +0000 - Samina Baig (21) completed the climb with her brother Mirza Ali (29) who becomes the third and youngest Pakistani male to scale the mountain, while Samina Baig becomes the first Pakistani woman to scale Mount Everest. President Asif Ali Zardari congratulated Samina Baig and her brother Mirza Ali for scaling the world’s highest peak Mount [...] - Norway shocked by Lankan Court ruling
Mon, 20 May 2013 19:39:56 +0000 - Colombo Gazette: The Norwegian Foreign Ministry says it is unable to understand the court ruling that allowed an NGO to proceed with a case against the Norwegian Embassy in Colombo. Colombo Additional District Judge Amali Ranaweera had ruled recently, that the foundation for co-existence headed by Kumar Rupasinghe can proceed with the case to sue [...] - TID ASP remanded
Mon, 20 May 2013 19:39:40 +0000 - By Lakmal Sooriyagoda A retired Assistant Superintendent of Police attached to the Terrorist Investigation Division (TID) who is alleged to have defrauded Rs.3.5 million of several foreign job seekers by promising to provide employment opportunities in Canada was ordered to be remanded till June 3 by a Colombo Court yesterday. The suspected ASP Ananda Ranasinghe [...] - No progress in Sri Lanka, four years on: claims HRW
Mon, 20 May 2013 19:39:19 +0000 - Colombo Gazette: Respect for basic rights and liberties has declined in Sri Lanka in the four years since the Government defeated the Liberation Tigers of Tamil Eelam (LTTE), Human Rights Watch (HRW) said today. This week marks the fourth anniversary of the brutal civil war’s end. HRW says since the end of the 26-year-long civil [...] - Minister Amunugama meets Mitsubishi Corporation Vice President
Mon, 20 May 2013 19:38:10 +0000 - Senior Minister of International Monetary Cooperation and Deputy Minister of Finance and Planning, Dr. Sarath Amunugama met Mitsubishi Corporation, Japan, Executive vice President and Regional chief Executive officer, Asia and Oceania, Toru Moriyama at the Ministry of Finance and planning yesterday. The Assistant to the Chief Regional Officer Mitsubishi Corporation Singapore Branch, Hidenori Takei and [...] - Sunil appointed as Chairman at Watawala Plantations
Mon, 20 May 2013 19:37:26 +0000 - Longstanding chief Sathasivam steps down but will continue as director Sunil Wijesinha has been appointed as the Chairman of the Watawala Plantations PLC. He succeeds Govindasamy Sathasivam who has stepped down, having been in the top seat from 1996. However, Sathasivam will continue to serve the Board as a Director. Wijesinha who was a Director [...] - Special event for businesses to mark International Day for Biological Diversity
Mon, 20 May 2013 19:36:24 +0000 - The Sri Lanka Business and Biodiversity Platform, in partnership with the Ministry of Environment and Renewable Energy, will be holding a public lecture to celebrate the ‘International Day for Biological Diversity’ on 22 May 2013. As this year’s theme for the day is ‘Water and Biodiversity’, the lecture aims to demonstrate the importance of sustainable [...] - Sri Lanka Business and Biodiversity Platform launches website
Mon, 20 May 2013 19:36:03 +0000 - The Sri Lanka Business and Biodiversity Platform is a forum that intends to promote strong leadership of the private sector, to learn easily and actively, obtaining technical support, sharing information, knowledge and experience, promoting best practices and dialogue with state and civil society partners on biodiversity conservation issues. The Ceylon Chamber of Commerce has joined [...] - CIMA Business Leader’s Summit unveils true face of leadership
Mon, 20 May 2013 19:35:39 +0000 - The top is the only position that counts for businesses and individuals in the contemporary success-oriented world. The likes of Sir Richard Branson, Sheryl Sandberg and Steve Jobs, have dominated the media and made business leaders the rock stars of today, with fame, fortune and even fashion following in their footsteps. Success is sweet, but [...] - Historic Indo-Lanka trade pact goes public for the first time
Mon, 20 May 2013 19:34:56 +0000 - The first ever international Free Trade Agreement entered by Sri Lanka has boosted its exports to its partnering country by no less than 16 times, and overall trade volumes grew by eight fold. “Since the Indo-Sri Lanka Free Trade Agreement (ISFTA) started operations in 2000, the total bilateral trade between the two countries has [...] - ICTA’s ‘e-diriya’ IT Centre opens in Kegalle
Mon, 20 May 2013 19:33:23 +0000 - The fourth IT centre of the Information and Communication Technology Agency (ICTA) ‘e-diriya’, being set up in each Province, was declared open in the Sabaragamuwa Province recently. Telecommunication and Information Technology Minister and Sabaragamuwa Province Chief Minister Mahipala Herath jointly declared open the province-level centre at the Zonal Education office in Kegalle recently. Speaking on [...] - M.D. Gunasena introduces ‘Book Hub Reader’ together with Microimage and Etisalat
Mon, 20 May 2013 19:32:30 +0000 - The leading publisher, printer and bookseller, M.D. Gunasena, together with Microimage and Etisalat, launched the ‘Book Hub Reader’ an e-book reader, revolutionising the publishing industry in Sri Lanka with new technology. The maiden device was handed over to veteran children’s book writer and illustrator Kala Keerthi Sibyl Wettasinghe. The ceremony was held at an event [...] - Yahoo buying Tumblr for $1.1 b
Mon, 20 May 2013 19:31:21 +0000 - REUTERS: Yahoo Inc said it is acquiring blogging service Tumblr for $1.1 billion cash, a bold bet by Chief Executive Marissa Mayer to revitalize the struggling Internet pioneer by co-opting a Web property with strong visitor traffic but little revenue. The deal, which will use about a fifth of Yahoo’s $5.4 billion in cash and [...] - Mercantile Investment and Finance’s Rs. 1 b listed debentures assigned BBB+/P2
Mon, 20 May 2013 19:30:49 +0000 - RAM Ratings Lanka has reaffirmed Mercantile Investments and Finance PLC’s (MIF) respective long and short-term financial institution ratings at BBB+ and P2. Concurrently, the company has been assigned respective long and short-term ratings of BBB+ and P2 to the company’s proposed Rs. 1 billion Senior Unsecured Listed Debentures (2013/2018). Both long-term ratings carry a stable [...] - Secondary markets stagnant ahead of weekly Treasury bill auction
Mon, 20 May 2013 19:30:29 +0000 - By Wealth Trust Securities Activity in secondary bond markets dried up yesterday ahead of today’s weekly Treasury bill auction. At today’s auction a total amount of Rs. 15 b is on offer with Rs. 1 b on the 91 day, Rs. 3 b on the 182 day and Rs. 11 b on the 364 day [...] - The Finance unveils modernised Matara Branch
Mon, 20 May 2013 19:30:03 +0000 - The Matara branch of The Finance Company, which was established in 1978, celebrates 35 years of business excellence in the community by unveiling its modernised premises to the public. As the first non bank finance company to enter the city and having built a reputation on being a trusted household name in financial services, the [...] - Commercial Bank felicitated as an exemplary corporate citizen by Colombo Municipal Council
Mon, 20 May 2013 19:28:40 +0000 - Commercial Bank has been felicitated once again as a top corporate citizen, this time by the Colombo Municipal Council (CMC) for being the most punctual taxpayer in Colombo for the past five years consecutively. In recognition of the Bank’s exemplary civic consciousness, Commercial Bank’s Assistant General Manager – Properties and Services Noel Wickremasinghe was invited [...] - American Express ties up with Anything.lk to give Cardmembers additional savings
Mon, 20 May 2013 19:28:08 +0000 - American Express the credit card acquired and issued in Sri Lanka solely by Nations Trust Bank PLC partnered with Anything.lk to offer their valued card members an additional 10% savings for purchases over Rs. 1000 when they shop at www.anything.lk from 15 May onwards. What’s more, customers who purchase for over Rs. 10000 can enjoy [...] - Allianz Lanka completes 1Q with strong financials
Mon, 20 May 2013 19:27:15 +0000 - Allianz continued its upward growth trajectory in the first quarter of 2013, achieving a profit before tax of Rs. 85 million, a 5% increase over last year. The non-life company generated a GWP of Rs. 532.2 million during the period, which is a 14% increase over the first quarter of 2012, of this GWP, 63% [...] - Jetwing Hotel debuts “no frills” J in Negombo
Mon, 20 May 2013 19:26:42 +0000 - Visiting Sri Lanka on a shoestring budget or planning to travel around the country economically? Most of the time the modern traveller, be they young and independent or older and adventurous is limited by income, and cash, thereby becomes a key determinant when deciding on destinations and accommodation. Hence the reason Jetwing Hotels came up [...]
