Stock Watch
Monday, May 18, 2015

Sri Lanka stocks close lower at 0.05-pct read more..

Debt Issue
Monday, May 18, 2015

Sri Lanka Singer Plc to issue a debenture read more..

Power Abuse
Monday, May 18, 2015

Sri Lanka will leave no room for power misuse:President read more..

Monkey Kingdom
Monday, May 18, 2015

Disney film "Monkey Kingdom" filmed in Sri Lanka crosses US$14.3mn ticket sales read more..

Modi Visit
Monday, May 18, 2015

China, India sign 24 agreements and MOUs read more..

Merger Plan
Monday, May 18, 2015

Sri Lanka’s DFCC and Vardhana bank to merge: Application to be filed at CB read more..

Losing Speed
Monday, May 18, 2015

Sri Lanka’s economic growth losing steam: former Central banker read more..

Politics
Saturday, May 16, 2015

Sri Lanka legalizes 19A read more..

Ratings
Friday, May 15, 2015

Fitch Rates Central Finance's Senior Debt Final 'A+(lka)' read more..

Investor need
Friday, May 15, 2015

Sri Lanka wants investor support to transform into new era: Finance Minister read more..

Growth Numbers
Friday, May 15, 2015

Sri Lanka’s NDB posts Rs1.6bn profits; 30-pct YoY growth read more..

Strong Ties
Friday, May 15, 2015

Sri Lanka to boost economic ties with London read more..

20 Amendment
Friday, May 15, 2015

Sri Lanka’s 20A will help resolve disparities in development and growth: Minister read more..

Victory Day
Friday, May 15, 2015

Sri Lanka government invites Northern PC to commemorate victory against separatism read more..

Cricket News
Friday, May 15, 2015

Sri Lanka Cricket reappoints Angelo as test and ODI captain read more..

20A
Thursday, May 14, 2015

Sri Lanka cabinet takes time to finalize 20A; local government election under new system read more..

Block Trade
Thursday, May 14, 2015

Sri Lanka’s CSE turnover crosses Rs5bn during mid-day trade boosted by Ceylinco deal read more..

Power Hunger
Thursday, May 14, 2015

Sri Lankan politicians in "Till death do we part" struggle for power read more..

Fed's Dudley hopeful of interest rate hike this year despite weak data - Los Angeles Times
Monday, April 20, 2015

Los Angeles Times Fed's Dudley hopeful of interest rate hike this year despite weak data Los Angeles Times A top Federal Reserve policymaker said Monday that he was hopeful the central bank will raise its benchmark short-term interest rate this year despite recent weak economic data. lRelated Big differences divide Democrats, GOP on overhauling U.S. tax code. EconomyFed's Dudley plays down EM risk from US tightening Financial Times Treasury Yields Near April Lows With Dudley Cautious on Economy Bloomberg Hopeful on US rate hike this year: Federal Reserve's William Dudley Economic Times Nasdaq all 28 news articles » read more..

Wall St. bounces back with eyes on earnings, China - Reuters
Monday, April 20, 2015

Reuters Wall St. bounces back with eyes on earnings, China Reuters NEW YORK (Reuters) - U.S. stocks rose on Monday, cutting into the previous session's sharp decline, as China's steps to stimulate its slowing economy and as earnings, including those from Morgan Stanley, lured money back into equities. In the second ... US Stocks Advance Wall Street Journal Wall Street Rebounds Amid China Stimulus, Earnings Fox Business Stock futures jump after China stimulus Seeking Alpha Zacks.com all 44 news articles » read more..

US, European shares up after China stimulus but Greece weighs - Reuters
Monday, April 20, 2015

Reuters US, European shares up after China stimulus but Greece weighs Reuters NEW YORK (Reuters) - European and U.S. stocks rose on Monday after China announced economic stimulus measures while the euro fell against the dollar on worries Greece may default. Wall Street reversed course after falling steeply on Friday, as ... European Stocks Partially Recover From Fierce Selloff Wall Street Journal PBOCs Stimulus Measures And Greek Crisis Provides Markets Backdrop Zacks.com European shares up after China stimulus fails to lift Asia Buenos Aires Herald Seeking Alpha  - Daily Mail all 57 news articles » read more..

Time Warner Cable Continues to Transform Home Phone Service with ... - MarketWatch
Monday, April 20, 2015

USA TODAY Time Warner Cable Continues to Transform Home Phone Service with ... MarketWatch NEW YORK, Apr 20, 2015 (BUSINESS WIRE) -- Time Warner Cable Inc. (TWC) has added India to its growing list of international destinations included in its Unlimited Home Phone National calling plan. With this calling plan expansion, unlimited calls can be ... Comcast, Time Warner Cable to Meet With DOJ; Stocks Rebound TheStreet.com The Tide Is Turning Against Comcast's Proposal To Buy Time Warner Cable TechCrunch Comcast, Time Warner Cable to meet Justice Department officials over merger Fortune Tech News Today  - CNBC  - Bloomberg View all 89 news articles » read more..

OPEC Says US Oil Boom Will End This Year - TIME
Monday, April 20, 2015

TIME OPEC Says US Oil Boom Will End This Year TIME OPEC says the demand for oil – its oil – will rise during 2015 because the cartel is winning its price war against U.S. shale producers by driving them out of business. More. 100 Billion Barrels of Oil Below Gatwick? Maybe NotTop 5 Richest Tycoons in ... OPEC, Russia, U.S. Shales - A Global Battle For Oil Market Share Seeking Alpha Oil Drops as Bull Bets Seen Behind Biggest Weekly Gain Since '09 Bloomberg Oil futures turn lower as dollar picks up MarketWatch Resource Investor  - Maine News Online  - Reuters all 233 news articles » read more..

Morgan Stanley Profits Surge 60% On Trading And Wealth Management ... - Forbes
Monday, April 20, 2015

Forbes Morgan Stanley Profits Surge 60% On Trading And Wealth Management ... Forbes Morgan Stanley Morgan Stanley CEO James Gorman is hard at work building a wealth management business to provide stability and consistent earnings for the standalone investment bank, but a strong quarter for the firm's trading desks never hurts. Wall St. Opens Higher as Earnings Impress New York Times Morgan Stanley posts highest profit since financial crisis The Globe and Mail Morgan Stanley's Results Improve on Stronger Trading, Deals Environment Wall Street Journal Fox Business  - Reuters all 179 news articles » read more..

Gasoline prices are increasing again - cleveland.com
Monday, April 20, 2015

cleveland.com Gasoline prices are increasing again cleveland.com CLEVELAND, Ohio -- The average price of a gallon of gasoline here this morning is $2.40 a gallon -- up 8 cents from a week ago. The bad news comes from the AAA and from Gas Buddy, the Internet-based price watchdog that relies in part on motorists to ... Pittsburgh region sees steady rise in gas prices Pittsburgh Post-Gazette Gas prices rise 6.3 cents in Maine in past week seattlepi.com Gas prices go up nearly 11 cents in New Hampshire San Francisco Chronicle Charleston Post Courier all 74 news articles » read more..

Tesla (TSLA) Stock Falling Today Following Lower Price Target - TheStreet.com
Monday, April 20, 2015

TheStreet.com Tesla (TSLA) Stock Falling Today Following Lower Price Target TheStreet.com NEW YORK (TheStreet) -- Shares of Tesla Motors (TSLA - Get Report) are falling, down 0.43% to $205.90 in early market trading Monday, after analysts at JPMorgan Chase lowered their price target on shares of the electric car maker to $165 from $175 this ... Elon Musk nearly sold Tesla to Google in 2013 Engadget Bloomberg: Google had $6B deal to buy Tesla in 2013 Seeking Alpha Google nearly bought Tesla for $6B in 2013 CNET Mashable  - WKRB News  - The Car Connection all 88 news articles » read more..

KKR Consortium to Buy Controlling Stake In South Korea's Ticket Monster - Wall Street Journal
Monday, April 20, 2015

The Globe and Mail KKR Consortium to Buy Controlling Stake In South Korea's Ticket Monster Wall Street Journal A consortium including KKR Co. will buy a controlling stake in Ticket Monster, South Korea's No. 2 mobile commerce company, from Groupon Inc. in a deal valuing the company at $782 million. The deal, which confirms an earlier Wall Street Journal article, will ... Groupon Sells Controlling Stake in Korean Site Ticket Monster for $360 Million Re/code Groupon to sell 46% stake in Ticket Monster for $360-million The Globe and Mail Anchor Equity Partners, KKR and Management to Acquire a Controlling Stake in ... MarketWatch all 26 news articles » read more..

Volcker Urges Merging Regulators to Bolster Financial Oversight - Bloomberg
Monday, April 20, 2015

Kansas City Star Volcker Urges Merging Regulators to Bolster Financial Oversight Bloomberg Five years after giving his name to a rule designed to restrict trading by Wall Street banks, Paul Volcker is pushing for another change that would put at least one top regulator out of business. The Federal Reserve would be at the helm of a reorganized ... Former Fed Chairman Volcker calls for overhaul of financial oversight system Fox Business MarketsEx-Fed chief Volcker calls for merger of SEC, CFTC Financial Times all 28 news articles » read more..

Barracuda Networks Inc. launches IT solutions in Sri Lanka
Thursday, October 30, 2014

Oct. 30, 2014 (LBT) - Barracuda Networks, Inc., the world’s leading IT solutions provider kicked off its presence in Sri Lanka with the launch of a range of industry-leading solutions designed to solve mainstream IT problems – efficiently and cost effectively – while maintaining a level of customer support and satisfaction second to none. Barracuda Networks, Inc., a leading provider of cloud-connected security and storage solutions, also announced its new Data Protection Plus strategic initiative, aimed at helping customers access, retain and share critical data from anywhere and any device. As part of this initiative, Barracuda is announcing several major enhancements and new releases across its portfolio of cloud-connected backup, archiving and productivity solutions, as well as the acquisition of C2C Systems, a leading provider of information management, email archiving and PST management solutions. Leveraging their investment in Barracuda, customers can simplify their IT infrastructure and centrally manage solutions across the Barracuda portfolio – regardless of the size or type of deployment – through integrated, easy-to-use web interfaces that support configuration, monitoring and reporting. “Today’s modern workplace is more virtualized, cloud enabled and mobile. One of IT’s biggest challenges is to ensure business applications are up and running – promoting application availability, productivity and collaboration – often with limited time and resources,” said Rod Mathews, GM Storage at Barracuda. “Protecting the modern workplace demands a new way of thinking. Data Protection Plus enables and accelerates the use of virtualization, cloud and mobile technologies, and represents the latest innovation across our storage product line. Barracuda continues to make it easy for our customers to access, retain and share their critical information.” “With the growth in cloud and virtualization, data is more accessible than ever before,” said Dave Simpson, senior storage analyst, 451 Research. “IT organizations require solution flexibility to not only protect that data, but also provide fast recovery and availability options to workers everywhere. Barracuda's approach to delivering multiple options across the storage portfolio gives customers that flexibility." New functionality available as part of the Data Protection Plus initiative is included at no additional cost to customers with current Energize Updates subscriptions. Details on the individual product updates, general availability and pricing will be released in the coming weeks. Highlights include: Protection Plus Availability – Barracuda Backup : Barracuda Backup version 6.0 extends the flexibility for organizations deploying in cloud-connected or private “dark” environments. The new version includes a number of updates such as local control to enable operation and management in private “dark” environments without sending data to the cloud, faster recovery times with granular recovery of Microsoft Hyper-V virtual machines without the need to restore the VM, and support for Microsoft SQL Server 2014. Protection Plus Accessibility – Barracuda Message Archiver : Barracuda Message Archiver version 4.0 extends archiving capacity by allowing Barracuda Message Archiver to move or copy data to the Barracuda Cloud. The new cloud archiving gives users access to email from any device, regardless if email services are available, extending capacity and offsite disaster recovery. Barracuda Message Archiver version 4.0 also allows customers to connect appliances for capacity expansion and federated search to scale and grow with their businesses, without over-committing resources. Barracuda Message Archiver is available as a virtual appliance for customers looking to deploy archives without additional hardware. Protection Plus Information Management – Acquisition of C2C Systems : Barracuda’s acquisition of C2C Systems allows the company to offer customers a more complete information management and archiving product portfolio to simplify IT and control storage costs. The companies’ shared philosophy around simplicity and customer experience provides customers with extended value across the expanded archiving portfolio, which now includes file and message archiving, eDiscovery, and PST management solutions. This addition enables Barracuda to help eliminate risks associated with distributed PST files, reduce eDiscovery overhead via information management and early investigation, and support information management and governance initiatives via extended retention management policies. Barracuda’s Murali Urs, Country Manager India & SAARC said, “We’re excited to launch our range of solutions in Sri Lanka. The IT industry here is very vigorous and advancing at a rapid pace hence the need to keep abreast with the latest solutions on offer suits us a lot. The response from the industry has been very promising and we’re confident of a strong and continued presence in Sri Lanka”. Sanjaya Padmaperuma, CEO of South Asian Technologies Ltd (SATL) the authorised distributor in Sri Lanka said, “We’re happy to welcome Barracuda to Sri Lanka. Barracuda enjoys an unblemished international reputation for the quality of its products and services. Endorsements from around the world stand testimony to its quality and reliability. I’m thus confident of its success among the large number of players in Sri Lanka’s thriving IT industry. read more..

Orient Finance web portal for vehicle traders, buyers
Thursday, October 30, 2014

Oct. 30, 2014 (LBT) - Orient Finance (OF) launched a web portal as an extension of its vehicle trade-in option creating a virtual market place for vehicle sellers and buyers. The website was launched by Mahinda Sarathchandra, President of the Vehicle Importers Association of Sri Lanka. Suresh Amerasekera, CEO of Orient Finance who was present at the occasion explained that the creation of the website stemmed from the need to attune their trade-in product offer to the changing needs of customers to offer a premium, value added service to their ever increasing clientele. “The online platform strives to draw a link between vehicle dealers and buyers and can be accessed by visiting the Orient Finance Website at http://www.orientfinance.lk and clicking the 'Trade-In Vehicle Portal' banner.’ The comprehensive database of the Trade-in Vehicle Portal lists out selected vehicle dealers Island-wide along with the models that are available for purchasing. Any buyer who is looking to upgrade his/her vehicle can log on to the portal, select a suitable vehicle out of the listing, and can trade-in his/her existing vehicle for a new one with the respective dealer. Any shortfall between the new vehicle and the traded one will be financed by OF. The Company hopes to develop this platform by further upgrading and making it more user-friendly in order to better service to both buyers and traders. Speaking at the occasion Sarathchandra commended the initiative taken by Orient Finance to host this website, thus creating a cost effective manner in which the Members of his Association can access potential buyers across the island. He further elaborated that this will create a win-win situation for both sellers and buyers, allowing sellers to access a larger customer base, and buyers to have access to a wider range of vehicle selections. Sarathchandra made an open invitation to all the Members of the Vehicle Importers Association to avail this opportunity by listing their vehicles on the site. Orient Finance PLC (OFP) operates 23 fully fledged branches and customer convenience centres located in Ampara, Anuradhapura, Avissawella, Colombo, Galle, Gampaha, Kalutara, Kandy, Kegalle, Kochchikade, Kurunegala, Matara, Welisara, Jaffna, Killinochchi, Vavuniya, Batticaloa, Horana, Ratnapura, Negombo, Nugegoda, Chilaw and Avissawella. It is a Finance Company licensed by the Central Bank of Sri Lanka under the Business Finance Act No 42 of 2011. Its primary business activities are leasing and hire purchase of motor vehicles, debt factoring, gold loans and the acceptance of fixed deposits. The Board of Directors of OFP consists of Dr Dayanath Jayasuriya P.C. as Chairman, Prakash Schaffter, Ramesh Schaffter, Ananda Atukorala, Mrs. Lakshmi Gunetilake, Anil Tittawella P.C. and Sarath Wikramanayake as Directors. Suresh Amerasekera functions as the Chief Executive Officer. read more..

CDB bags Bronze at SLIM Brand Excellence Awards
Thursday, October 30, 2014

Oct. 30, 2014 (LBT) - Citizens Development Business Finance PLC (CDB) outperformed several high profile service brands, winning a coveted Bronze Award at the recently held SLIM Brand Excellence Awards 2014 at the BMICH. CDB excelled in the fiercely contested “Service Brand of the Year” category, which recognizes the most effective service brands from amongst numerous competitors in the fields of banking, insurance and telecommunication and among other service sectors. “There is no higher endorsement of our commitment towards quality service than winning an award in the Service Brand of the Year” category commented DGM Marketing- Karthik Elangovan. “It is an honour to receive this award in recognition of our status as a truly local service brand. The fact that CDB was recognized in this way showcases our commitment to continuously update our processes to offer the best to our customers. We have put in hours of hard work at every level of the organization in building our brand, and this award is a validation of the passion of the entire CDB team to drive the brand forward,” he added. The Bronze Award in the competitive service sector distinguishes CDB as a local brand not just as a leading Non-Banking Financial Institution in the financial services sector, but across other sectors as well. “This award is testament to the extent to which our brand speaks to our customers, competing against brands across the entire range of service sectors.  Our brand's strategic focus and commitment towards market innovation and processes of value creation allowed us to prevail over our competitors. We also work hard to continuously innovate and offer a higher value to our customers,” said DGM Marketing, Karthik Elangovan. The SLIM Brand Excellence Awards has recognized the brightest local brands for 13 years and these awards have become the industry benchmark for assessing the best products and services. Further, the awards have also helped uplift business performance and improved the quality of brand management while making a valuable contribution towards building stronger brands. CDB is established as a formidable leading player among the top Non-Banking Financial Institutions (NBFIs) in the country, extending its network to 59 outlets Island wide. read more..

Silmy Ahamed appointed CEO of KBSL Info Tec
Thursday, October 30, 2014

Oct. 30, 2014 (LBT) - The Board members of KBSL Information Technologies has announced the appointment of Silmy Ahamed as Chief Executive Officer (CEO) of KBSL Information Technologies with effect from October 1, 2014. Silmy was Chief Operating Officer (COO) leading up to this appointment. In this role, he established KBSL on a fast growth trajectory with innovative client solutions and a high standard of customer service. Prior to his job as COO of KBSL Information Technologies, Silmy worked in senior leadership roles at the same organization excelling in Sales and Customer service. A consistent performer in each of his prior roles, he has a track record of developing high performing teams that deliver consistently to customers. With over 20 years of experience in Information Technology, Silmy is ideally placed to lead KBSL in its next phase of development. The Board is confident that with this appointment, KBSL Information Technologies now has both the leadership and the staff to build on its existing strengths and focus on exciting new directions that will ensure future sustainability and growth. KBSL Information Technologies is an IT Systems Integrator with a track record of over 35 years in Sri Lanka. KBSL partners with leading information technology solution providers from around the world and counts large Sri Lankan corporates amongst its client portfolio. read more..

Sunquick wins SLIM Brand Excellence Award
Thursday, October 30, 2014

Oct. 30, 2014 (LBT) - Sri Lanka’s fruit juice category market leader, Sunquick's success story in Sri Lanka has been recognized and awarded the prestigious SLIM Brand Excellence Award  2014 in the category of  International Brand of the Year. Expressing his satisfaction of the brand's performance, C. W. Mackie PLC - Executive Director, Mangala Perera said that despite a turbulent macro environment and market conditions, Sunquick was able to increase the market share as the category leader while securing both top line and bottom line growth., “Our local adaptations really indicate the market acceptance of the brand and the loyalty of the masses towards Sunquick brand." Giving details of the brand's acceptance in the marketplace, General Manager, Jerome Jayasinghe said that the excellent performance of the brand has resulted in securing a market share of 61.9 % in the category. It has maintained its leadership position during the past years.. "Sri Lanka witnessed a strong upsurge in tourism after the end of the civil war. In order to capitalize this opportunity we have initiated and developed an exclusive distribution channel to meet the upcoming trends and opportunities which is now serving the leisure industry in Sri Lanka. Sunquick has a strong position in the HORECA sector due to our food service solutions and support programmes from beverage to multiple application. Sunquick is distributed island-wide by Scan Products Division of C W Mackie PLC," he said. Sunquick is a Danish-based international brand and available in more than 120 countries globally.  Scan Products division of C. W. Mackie PLC in Sri Lanka  is the local partner for bottling, distribution and marketing Sunquick under the original Danish recipe for the last 35 years.  The brand gives Scan consumers the opportunity to have high quality world renowned natural fruit drink to taste and it is an ideal product to share with their loved ones. Sunquick is a reliable and trustworthy brand which always gives opportunity for consumers to experience the same great refreshing taste and the same uniform original recipe with high level of quality and contains no artificial sweetness, colours or flavourings. Since it is a concentrated product with recommended 1 + 9 dilution ratio it is economical and gives value for money. Further, it is a family drink and provides real natural taste of fruits for the whole family. C. W. Mackie PLC is a diversified group of companies with a presence of more than 114 years in the country and is a listed company in the Colombo Stock Exchange. Scan products division of C. W. Mackie is engaged in manufacturing, importing, and distribution of branded FMCG Products specializing in food and beverage category which includes, well known local and international brands such as Sunquick Fruit Juice, Ovaltine, Scan Brand Bottled Water, Kotagala Kahata, Scan Jumbo Peanuts, Ocean Fresh Tuna, Star Brand Essences / Colourings, Scan Jack Mackerel and CW Mackie PLC’s newly acquired subsidiary Kelani Valley Canneries product range ‘KVC’ Sauces, Chutneys, Jams and its Spicy range further strengthen Scan’s product portfolio. Scan consist of state-of-the-art factories for bottling of Sunquick fruit juice, bottled water which are fully automated factories with zero human touch in the processing line and also Scan is maintaining EU standards and certified in SLS, accredited with ISO 9001:2008, ISO 22000:2005, HACCP, GMP to maintain very high level of quality standards. Scan always gives utmost priority to maintain this high quality level with high quality standards. read more..

Watawala Plantations PAT Rs. 262m for 1HFY15
Wednesday, October 29, 2014

Oct. 29, 2014 (LBT) - Watawala Plantations PLC reported revenues of Rs. 3.7 billion for the six months ended 30 Sep 2014 (1HFY15), up 27.9% YoY. Net profit or PAT for 1HFY15 amounted to Rs. 262 million, against LKR99m in the same period last year. WATA was able to post strong bottom line performance in a challenging environment for the plantation sector. Profit for the 2nd quarter (2QFY15) amounted to Rs. 31million, down 64.2% YoY due to challenges in the Tea sector. Palm Oil contributed Rs. 421million to the group bottom line in 1HFY15 which helped WATA to cover its losses in the Tea and Rubber sectors. Profit for 2QFY15 alone amounted to Rs. 237 million, a growth of 26.4% YoY. Revenue for 1HFY15 amounted to Rs. 822 million, up 7.4% YoY. The growth in revenue is attributed to 5.7% YoY increase in crop which amounted to 4.62m kg, and an 11.2% YoY increase in NSA. The average NSA for 1HFY15 was Rs. 179 per kg. The company attributes the increase in crop to better yield as a result of Good Agri Practices, and new fields yielding FFB. Palm Oil revenue for 2QFY15 amounted to Rs. 445 million, up 9.2% YoY. WATA continues to be the single biggest CPO producer in Sri Lanka. 1HFY Highlights • Revenue increased 27.9% YoY to LKR3.6bn • PAT of LKR262m; No wage impact this year. • Palm Oil production up 5.7% YoYto 4.62m kg • Tea production of 5.29m kg, up 22.3% YoY. Strong 1Q but a challenging 2Q • Exports up 39.6% YoY and contributed LKR302m to the top line 2QFY Highlights • Revenue increased 30.9%% YoY to LKR1.8bn • PAT of LKR31m; down 64.2% due to higher COP resulting from lower volumes • Palm Oil production up 9.6% YoYto 2.54m kg • Tea production of 1.86m kg, down 1.7% YoY Tea segment, the largest revenue contributor which accounted for over 68.3% of the total revenue, increased 37.8% YoY to Rs. 2.5 billion in 1HFY15, mainly on the back of improved volumes. Weather conditions were favourable for tea during 1QFY15, but not so much in 2QFY15. For 1HFY15, own crop was up 17.8% to 3.31  million kg, and bought crop increased 30.3% YoY to 1.98 million kg. The NSA for 1HFY15 stood at Rs. 396 per kg, down 2% from same period last year. Instability in key export markets such as CIS, and the Middle East has put pressure on auction prices. For 1HFY15, the Tea segment had made a loss of (Rs. 199 million), compared to a loss of (Rs. 234 million) in 1HFY14. 2QFY15 has been a very challenging period with production volumes being affected by inclement weather and NSA being hit by weak demand at the auction. 2QFY15 loss of (Rs. 231 million) has completely erased the 1QFY15 profit of Rs. 32m. Revenue for 2QFY15 amounted to Rs. 1.2 billion, up 54.7% YoY. WATA remains the largest single tea producer in Sri Lanka. Export segment Export sector recorded a significant improvement in revenue driven by value added teas sold at a higher price, compared to mainly bulk orders in 1HFY14. Enhanced volumes on herbs and black teas have contributed towards a revenue of Rs. 302 million in 1HFY15, up 36.6% YoY. PAT on export amounted to Rs. 13 million in 1HFY15, against Rs. 11million recorded in the same period last year. Rubber segment The Rubber segment was hard hit by the 25% YoY dip in average NSA which stood at LKR271 per kg in 1HFY15 compared to Rs. 363 per kg in 1HFY14. Revenue was further impacted by a 30% YoY drop in volumes. Cultivation extent of Rubber was reduced by 19% from 652 ha in 1HFY14 to 521 ha in 1HFY15. The increase number of wet days also had a negative impact on tapping and yield. Rubber revenue amounted to Rs. 40m in 1HFY15, down 39.4% YoY. The segment made a net loss of (Rs. 41 million) in 1HFY15, compared to a loss of (Rs. 16 million) in the same period last year. Outlook Overall, WATA posted strong results for 1HFY15, mainly driven by Palm Oil. We expect the Palm Oil segment to continue its strong performance for 2HFY15. We are mindful of the demand side issues with buying at the auctions slowing down due to issues in key Ceylon tea markets in CIS and the Middle East. With our long term Agri practices in place, we are reasonably confident that we will overcome the difficult environment expected for the rest of the year. Dividend Board has approved a dividend of LKR0.95per share which amounts to Rs. 225 million in total. About Watawala Plantations A member of the Sunshine Group, Watawala Plantations PLC is a diversified plantation company in Sri Lanka, managed by the Group’s subsidiary, Estate Management Services Pvt. Ltd., a joint venture with the TATA Global Beverages and Pyramid Wilmar Plantations (subsidiary of Wilmar International). The company manages a total land extent of over 12,000 Ha in Palm Oil, Tea, and Rubber with a workforce of over 11,000 people.  The company has the largest Palm Oil plantation and the largest Rubber factory in Sri Lanka to augment the production of almost 10m kgs of Ceylon tea annually. read more..

‘Bio-Oil’ introduced to SL consumers by Hemas
Wednesday, October 29, 2014

Oct. 29, 2014 (LBT) - Hemas Pharmaceuticals, the premier importer and distributor of internationally reputed healthcare brands in Sri Lanka introduces a specialist skincare product ‘Bio-Oil’ in Sri Lanka and Maldives. The premium skincare oil, Bio-Oil is approved by Cosmetics, Devices & Drugs Regulatory Authority of Sri Lanka. Bio-Oil improves the appearance of new and old scars, stretch marks and uneven skin tone. It is also effective for aging and dehydrated skin. This remarkable product has made a significant mark in the world, winning 191 skincare awards. Since its global launch in 2002, Bio-Oil has been the No.1 selling scar and stretch mark product in 17 countries, including the United Kingdom and Australia. First launched in 1987 in South Africa, the product is available in 88 countries today. The Managing Director of Hemas Pharmaceuticals, Sanjeewa Samaranayake speaking at the product launch said, “Our passion to deliver premium products leveraging in our local expertise and network has increased over the last 60 years, to introduce yet another quality product in the market. As one of the most reliable and responsible distributor of pharmaceutical, surgical and diagnostic products in our country, we are always committed to proffer quality products to our consumers.” Bio-Oil is formulated with a blend of four essential plant oils (Calendula, Lavender, Rosemary and Chamomile) and Vitamins (A and E) that are known to be beneficial to skin health and appearance. It also contains the trademarked ingredient PurCellin Oil TM, to ensure absorption into the second layer of the skin, rather than superficially acting on the surface. The PurCellin component in the oil, makes it a dry oil with a quick and easy absorption into the skin, without leaving an oily residue. The product has undergone safety assessments in accordance with the regulation of the European Parliament and of the Council on Cosmetic Products. In addition, Bio-Oil ingredients has been carefully assessed and approved to assure safety use, as well as for pregnant mothers. Bio-Oil is hypoallergenic and is a member of Beauty Without Cruelty (BWC) Bio-Oil is now available at all leading pharmacies and Supermarkets island wide. Furthermore, Bio-Oil packaging is environmentally friendly, recyclable and all paper materials are certified to be in accordance with the sustainable forest management practices, including no harmful emissions, hazardous waste or waste water generated in its production. Hemas Pharmaceuticals is one of the key sectors of Hemas Holdings PLC and is a leading importer and distributor of pharmaceutical, surgical, and diagnostic products in Sri Lanka.  The company has served the industry for   over six decades, introducing world class healthcare products. The Hemas Group is one of the leading conglomerates in Sri Lanka with a focus on five key sectors, namely FMCG, Healthcare, Transportation, Leisure and Power Generation. read more..

SLMBC trade, investment mission to Malaysia
Wednesday, October 29, 2014

Oct. 29, 2014 (LBT) - The Sri Lanka- Malaysia Business Council (SLMBC) of the Ceylon Chamber of Commerce successfully concluded a business mission to Malaysia from 14th – 17th October, 2014. The mission was organized to coincide with the IGEM 2014 exhibition on Green Technology followed by One-to-One Business Meetings which was organized by various trade chambers namely Kuala Lumpur and Selangor Indian Chamber of Commerce and Industry (KLSICCI), National Chamber of Commerce and Industry of Malaysia (NCCIM),Courtesy call on the Acting Minister of Trade and Industries, Federation of Malaysian Manufacturers, Associated  Chinese Chamber of Commerce and Industry of Malaysia (ACCCIM) and the Malaysia Sri Lanka Business Chamber. All these are Malaysia’s Apex Business Chambers driving Malaysia’s external economy and promoting the overseas growth of Malaysia-based enterprises and international trading association with the Sri Lankan High Commission in Malaysia. The fifteen member delegation led by the SLMBC President Mrs. Nilrukshi de Silva, Vice President of Corporate Affairs and Business Development of Macksons Holdings (Pvt) Ltd, resulted in a remarkably productive visit to Malaysia. The Delegation comprised Iqram Cuttilan, Director/Chief Operating Officer, Aitken Spence Shipping Ltd; T. Suresh Kumara, Group Managing Director,Commodity Island International (Pvt) Ltd; Chandranandana Diyunuge, Group Chairman, Electro Metal Pressing (Pvt) Ltd; Keith Perera, CEO,F M J Holdings; MuktharMarikkar, Managing Director, Frostaire Industries Pvt Ltd; Arunasalam Suresan, Director – Chief Operations Officer, Global Sports Lanka (Pvt.) Ltd; Mrs. Dushy Jayaweera, Vice President, Hemas Transportation (Pvt) Ltd; Dr M. Rohitha Silva, Managing Director, idac (Private) Limited; Dr U. K. M. Ismail, CEO/Attorney-at-law, Lloyds Auto Mart (Pvt) Ltd; Ranga Goonawardena, Chief Executive Officer, Macksons Properties (Pvt) Ltd; Mrs. I. Liyanage, Manager – Business Development, Macks Marketing (Pvt) Ltd; M. H. K. Mohamed Hameez, Director, Spillburg Holdings (Private) Limited; Mohideen Shaameel, Director, Spillburg Holdings (Private) Limited. The visit was coordinated by Mrs. Anisha Dias Mack, Manager of The Ceylon Chamber of Commerce. The objective of the Trade & Investment Promotion mission was to educate Malaysian companies on the potential opportunities in doing business with Sri Lanka and to promote individual companies.With the help of the Sri Lankan High Commission in Malaysia the delegates met over 100 well established Malaysian companies. In his opening address, Madhu Sudan Nair, President of Kuala Lumpur and Selangor Indian Chamber of Commerce and Industry mentioned that Sri Lanka’s political stability is a positive factor in considering investment in the country. He also stated that Malaysian companies should look at participating in Sri Lanka’s infrastructure development projects. In his address Ibrahim Ansar, High Commissioner of Sri Lanka in Malaysia spoke of the significant post war growth in Sri Lanka’s economy. He stated that the tourism industry was now rapidly growing and creating a positive influence on the country’s economy. The High Commissioner emphasized that organizing missions of this nature will greatly contribute to augment bilateral trade between Sri Lanka and Malaysia and thanked the Sri Lanka - Malaysia Business Council for their initiative in organizing the forum. The delegation was also able to be a part of IGEM 2014 which was Themed “Creating Green Wealth”, the 5th International Greentech & Eco Products Exhibition & Conference Malaysia.It aimed to help push the rapid adoption of green technology which is the emerging driver to deliver a double impact of sustainable economic growth as well as to address the environmental and energy security issues. Representing National Chamber of Commerce and Industry of Malaysia, YBhgDato Syed Hussein Al Habshee gave the participants an overview of the Malaysian economy and trade. YBhg Dato Syed Hussein highlighted sectors such as tourism, infrastructure, education and healthcare as having great potential with respect to business opportunities in Sri Lanka and one to one business meetings were organized with companies from Malaysia which made the event more successful. The delegates also paid a courtesy call to the acting Minister of Trade and Industries in Malaysia Dato Lee Chee Leong. The meeting was also attended by representatives of the Ministry of Trade and Industries, MATRADE (Malaysia External Trade Development Corporation) and MIDA (The Malaysian Investment Development Authority) etc. The delegation also met with a members of The Federation of Malaysian Manufacturers (FMM)which is one of Malaysia's premier economic organization.Today, as the largest private sector economic organization in Malaysia representing over 2,500 manufacturing and industrial service companies of varying sizes, FMM is the officially recognized and acknowledged voice of the industry. The delegates were able to make a few successful contact with the members of FMM. Tan Sri Dato’ Soong Siew Hoong, ACCCIM (Associated Chinese Chamber of Commerce and Industry of Malaysia)Executive Advisor cum Chairman of International Trade & Industry Committee made a presentation about The Associated Chinese Chambers of Commerce and Industry of Malaysia, It is a national level organisation of the Chinese chambers of commerce in the country. It has 17 Constituent Members located separately in the 13 states of the nation. In fact ACCCIM is the earliest national level chamber of commerce to have a complete regional representation in the country. Tan Sri Dato’ also mentioned that a 15 member delegation will be visiting Sri Lanka in the month of November 2014. The Sri Lanka High Commission in Malaysia also organized a Sri Lanka food Promotion to coincide with the visit of the delegation from Sri Lanka. It was held at the Palace of the Golden Horses Hotel with Sri Lanka’s most renowned Chef Dr. PubilisDe Silva. Addressing the gathering Mrs. Nilrukshi de Silva, President of the SLMBC stated that the participation of Sri Lankan delegates in a series of successful seminars and business sessions organized by the Sri Lankan High Commission in Malaysia has resulted in productive business contacts and partnerships between Malaysian and Sri Lankan companies. Considering Sri Lanka’s rapidly developing status as a regional hub for business Mrs. De Silva invited potential Malaysian investors to join in a Business mission to Sri Lankain order to explore the many opportunities available for doing business in the country. One of the main highlights of this mission was the signing of the Memorandum of understanding between Sri Lanka – Malaysia Business Council of Sri Lanka and the Malaysia – Sri Lanka Business Chamber of Malaysia in the presence of His Excellency Ibrahim Ansar, High Commission of Sri Lanka in Malaysia on 17th October 2014. At the press conference held Malaysia-Sri Lanka Business Chamber Chairman Datuk Azzat Kamaludin said Malaysia was now focusing on the new Sri Lanka by facilitating and fostering relations with the Sri Lanka-Malaysia Business Council.Meanwhile, Nilrukshi welcomed any form of trade and investment from Malaysian enterprises as the country was still making strides to develop after the civil war in Sri Lanka. "Among the export products we can tap in Malaysia are for spices and tea. We are looking out for opportunities in Malaysia's manufacturing sector to propel the industries in Sri Lanka," she said, adding that Malaysia manufacturers would also have access to India and Pakistan as Sri Lanka has signed free trade agreements with them. Ibrahim Ansar, Sri Lanka High Commissioner in Malaysia hosted the members of the delegation for a networking session with Malaysian companies interested in exploring business opportunities and the members of the Malaysia Sri Lanka Business Chamber and other reputed institutes during the mission. read more..

‘Collaboration, a must in Healthcare Delivery’
Wednesday, October 29, 2014

Oct. 29, 2014 (LBT) - Eminent clinicians and members of the Sri Lankan Orthopedic Association came together recently for their Annual Conference to discuss critical issues relating to Orthopedics and trauma and to raise the benchmark on the quality of healthcare services in Sri Lanka. Dr K. Sridhar, Senior Neurosurgeon, Director, Institute of Neurosciences and Spinal Disorders at the Global Health City Chennai, India was invited as a guest of the conference to speak to the distinguished audience on complex spine surgeries like Scoliosis and Cervical Spine problems. Speaking on the background of the conference Dr Sridhar shared success stories in treating patients from Sri Lanka suffering with complex Brain Tumors and Spine ailments like Scoliosis. In the Global Institute of Neurosciences and Spinal disorders he has personally operated on a considerable number of Sri Lankan patients, for critical spinal and neurological disorders. He is one of the handful of surgeons who has successfully performed “Awake Craniotomies” for treating Brain Tumors, where the patient is awake, talking and performing actions related to the area of the brain that is being operated upon. This leads to immense benefits for the patients as the surgeon can accurately monitor and minimise any chances of loss of functionality in patients undergoing surgery for Brain Tumor. Similarly, intra-operative monitoring and wake-up during complex spine surgeries like Scoliosis and Spine Deformity Correction allows for far better outcomes for patients with minimal chance of loss of functionality. Several patients from Sri Lanka have benefitted from Dr Sridhars expertise and the availability of the latest cutting edge technology available at the Global Institute of Neurosciences and Spinal Disorders. It was indeed a sight to see many of them come from all corners of Sri Lanka to meet Dr. Sridhar in Colombo personally and express their gratitude to him and the hospital. Speaking on the occasion Dr K. Sridhar said “Complex Brain and Spine surgeries require a strong combination of surgical expertise, advanced technology, exceptional   commitment and dedication. I am delighted to say that at the  Global Institute of Neurosciences and Spinal Disorders, we have been able to institutionalise the best possible combination to deliver treatment outcomes that are on par with the best centres of the world”. We are today doing exceptional work in all areas of Spine Surgery ranging from Scoliosis, Cervical Myelopathy, Spine Tumors, Minimal Access Spine Surgery, Spine Reconstructive Surgery as well as Complex Brain Surgery and Neuro Intervention. Global Health City Global Health City, Chennai is a 500 bedded super specialty tertiary care facility, with a capacity to expand to 1000 beds. It renders 360 degree advanced tertiary healthcare services with multi-super specialty and multi-organ transplant services. With the finest combination of expertise, experience, state-of-the art technology and well coordinated team work, every step is aimed at ensuring excellence in patient care. The Global Hospitals Group started with its first Hospital a decade ago in Hyderabad. Today, it has nine hospitals with over 2000 beds, strategically spread across the country with branches now in Chennai, Bangalore and Mumbai and many more in advanced stages of planning and implementation. Each unit is a world class tertiary care multi super specialty Hospital with facilities matching the best in the world and offering advanced patient care of international standards. Forte Pharmaceuticals Pvt. Ltd. Launched as a new venture with fresh goals and aspirations in November 2005, is an organization which has identified itself as a specialist in Pharmaceuticals by keeping up with market trends and behavior. Because of this strong hold in healthcare industry, Forte was appointed as the Country Office by Global Hospitals Group, India to take care of and serve Sri Lankan patients with the support of medical professionals and doctors in Sri Lanka. The genesis of Global Hospital Information & Assistance Centre was with the sole purpose of helping Sri Lankan Patients reach quality hospitals with affordable costs in India. The idea was embarked upon when Mr. Riyas, Chairman of Forte Group of companies, came with his father-in-law to Global Health city, Chennai and realized the outcomes, ethics and quality of the Institution. He returned to Colombo with a promise to direct Sri Lankan patients to the best Hospitals in India, so that they got the best of care while travelling abroad. read more..

Foundation laid for Rs.30m. JAT CSR venture
Wednesday, October 29, 2014

Oct. 29, 2014 (LBT) - In an attempt to further reduce maternal deaths in Sri Lanka, the foundation laying ceremony for the estimated Rs. 30 million state-of-the-art JAT Training and Simulation Centre was held on October 27.The JAT Training and Simulation Centre will be set up under the auspices of the Sri Lanka College of Obstetricians & Gynaecologists (SLCOG.) at Model Farm Rd, Colombo 8. The Foundation stone was laid by Prof. Sir Sabaratnam Arulkumaran, President of the British Medical Association, who is Professor Emeritus of Obstetrics and Gynaecology at St George’s University of London, Prof. Hemantha Senanayake - Immediate Past President and Initiator of the Training and Simulation Centre Project, and Aelian Gunawardene - Managing Director JAT Holdings. Also present on the occasion were Joyce Gunawardene – Director Promotions JAT Holdings & SLCOG Members; Dr Kanishka Karunaratne - President Elect SLCOG, Dr Rohana Hattotuwa, Dr Ajitha Wijesundera, Dr U. D. P. Ratnasiri, Dr Samanthi Premaratne, Dr Ramya Pathiraja, and Dr Gamini Perera. Addressing the gathering, Managing Director of JAT Holdings, Aelian Gunawardene said,“As part of its corporate social responsibility projects the ultimate goal of JAT together with the SLCOG is not merely to minimise the number of maternal deaths, but also to educate and empower those concerned (Mid Wives, Nurses, Doctors and Support Staff) in self-help methods. "The state of the art Training and Simulation Centre will be equipped with the latest robotic mannequins from USA, who can mimic any complication that a pregnant mother can have and is pivotal to Sri Lanka in order to not merely minimise the number of maternal deaths, but to also prevent the destructive aftermath such deaths invariably leave in their wake;namely dispossessed children who are often abused and exploited, overburdened grandparents and more often than not absentee fathers. "All of which combine to shred the social fabric of our society that has for centuries been deeply matriarchal. Therefore JAT Holdings was only too happy to work together with the Sri Lanka College of Gynaecologists and Obstetricians to make this worthy cause a reality”. JAT will fund this laudable venture through the sales generated off Permoglaze paints a brand of Crown paints ofUK which is manufactured under licence in Sri Lanka by JAT Holdings. “When you buy a litre of Permoglaze paint we make sure that a percentage of the sales will be contributed towards this noble cause of saving the mothers of our nation”, said Gunawardene. Professor Hemantha Senanayake, the initiator of this project said “although Sri Lanka’s maternal mortality rate of 35 for every 100,000 live births when compared with that of most other developing nations is highly commendable, we cannot rest on our laurels. Sri Lanka is almost unique in that we investigate thoroughly every maternal death. We have learnt from these investigations that a sizeable number of these deaths are preventable. Training of care providers to avert emergencies and to handle them as a team when they do occur will go a long way towards preventing such deaths. The Training and Simulation Centre is meant to fulfil this aim and we are very grateful to JAT for so readily taking this up as their CSR commitment”. Architect Migara Alwis Director of Design Consortium is giving of his services free of charge for this laudable project, and has designedand will manage the project. The new extension will have the following, a. Theatre style Lecture Room b. Demonstration (Procedure) Room c. Facility Control Room d. Additional space for future expansion The project is expected to be completed in 2015. Once completed, members of the SLCOG who have always had a commitment to training care providers all over the country will man it. The overall running and supervision of the Centre will be in the hands of the SLCOG while JAT will also be actively involved. read more..

Orchid Island Capital Announces 4M Share Public Offering of Common Stock
Wednesday, March 19, 2014

Orchid Island Capital, Inc. (the "Company") (NYSE: ORC ) announced today that it has commenced a public offering of 4,000,000 shares of its common stock. The Company also plans to grant the underwriters ... read more..

UPDATE: TheraputicsMD Announces Launch of Secondary Offering of 9M Common Shares
Wednesday, March 19, 2014

TherapeuticsMD, Inc. (NYSE MKT: TXMD ) (the "Company") today announced the launch of an underwritten secondary public offering of 9,000,000 shares of its common stock. All shares will be offered ... read more..

Adobe Shares See Mid-Day Surge Amid Leaked Q1 Results
Wednesday, March 19, 2014

Investors in shares of Adobe Systems (NASDAQ: ADBE ) saw a parabolic move at the end of Tuesday's trading session as the company's first-quarter results were leaked. The stock surged to a mid-day high ... read more..

InPlay from Briefing.com
Wednesday, March 19, 2014

InPlay from Briefing.com read more..

Russian Billionaire Dumps Apple, Facebook for Alibaba
Tuesday, March 18, 2014

Russian billionaire Alisher Usmanov reportedly has sold shares in Apple and Facebook to focus on Alibaba and other tech investments in China. He also may expand his stakes in Russian assets. read more..

Short Story from Briefing.com
Tuesday, March 18, 2014

Short Story from Briefing.com read more..

Oracle Earnings Preview: Soaring Into The Cloud?
Tuesday, March 18, 2014

Oracle (NASDAQ: ORCL ), which has struggled to transition to cloud software and to boost the stagnant server business it acquired when it bought Sun Microsystems in 2010, is scheduled to report its third-quarter ... read more..

Market Wrap For March 17: Investors Focused On Economic Data Instead Of Crimea Concerns
Tuesday, March 18, 2014

U.S. stocks rose as investors focused on positive economic data rather than the tense situation in Ukraine. Economic reports showed that U.S. industrial production rose in February. President Obama imposed ... read more..

Brin and Page Maintain Close Control of Google with Unconventional Stock Split
Tuesday, March 18, 2014

Google Inc.'s (NASDAQ: GOOG ) upcoming unconventional stock split will enable Co-founder Sergey Brin and Larry Page to maintain close control over the company. The stock split will diminish shareholders ... read more..

UPDATE: Criteo Announces Commencement of Follow-on Offering
Tuesday, March 18, 2014

Criteo S.A. (Nasdaq: CRTO ) announced today that it has commenced a public offering of 5,250,000 American Depository Shares, or ADSs, each representing one of Criteo's ordinary shares. Criteo proposes ... read more..

Weibo Proposes $500M IPO; Sina Shares Jump 8.6%
Tuesday, March 18, 2014

Weibo late Friday night filed a proposed a $500 million initial public offering . Shares of Sina Corp (NASDAQ: SINA ), which owns a 78 percent stake in Weibo, are up a massive 8.6 percent Monday afternoon. ... read more..

Mid-Afternoon Market Update: Markets Up Despite More Crimea Fears
Tuesday, March 18, 2014

Midway through trading Monday, the Dow traded up 1.11 percent to 16,243.35 while the NASDAQ gained 0.87 percent to 4,282.04. The S&P also rose, gaining 0.98 percent to 1,859.55. Leading and Lagging Sectors ... read more..