“Heladiv Infinity” to open 100 tea shops in China

“Heladiv Infinity” a growing chain of tea shops in China which only use pure Ceylon tea to serve its customers is planning to open its 100th outlet by the year 2014.

Rohan Fernando Chairman of the HVA Foods Limited of Sri Lanka, the originator and owner of the “Heladiv Infinity” brand says, currently 22 outlets are [...]

Glass maker achieve record profits

Piramal Glass Ceylon PLC’s net profit during the first quarter of the financial year 2012 has increased to Rs. 141 million compared to last years same period’s Rs. 53 million.
The Glass maker attributes this 166% growth to the improvement in operational efficiency and the increase in sales, both in the domestic and the international market.
Piramal [...]

Stock Market on Wednesday

The All Share Price Index gained 69.71 points while the more liquid MPI moved up by 35.38 points.
Brokers say the rally on Land & Property stocks in the likes of EAST, CSD, CLND & OSEA drove the market upward.
Activity also heightened on anticipation of positive news from regulators with retailers becoming the more active participants [...]

Hunas Falls to be managed by Hayleys Leisure

The Management of the Hunas Falls Hotels PLC will change hands with effect from 13th August.

Accordingly, the Hotel firm’s management will be taken over by Hayleys Leisure Holdings Private Limited from Jetwing Hotels who are the current managers of the firm.

Two Pakistani Naval Ships arrive in Sri Lanka

The two ships, PNS Shamsheer and PNS Nasr, arrived in Colombo whilst returning from China after participating in Brunei Fleet Review 2011.
PNS Shamsheer is a guided missile frigate with a displacement of 3143.9 tons.
It is 123 meters in length and carries a complement of 28 officers and 215 sailors. The ship is commanded by Captain [...]

Treasury bill rates remain flat

Treasury bill rates at the weekly auction held today remained flat across the board for the consecutive 5th week.
Accordingly, the 3 and the 6 month and the one year rates stood respectively at 7.11%, 7.19% and 7.25%.
The today’s auction has received bids amounting to a sum of Rs. 20.32 billion while the Bank have accepted [...]

East West Properties to build a luxury hotel

East West Properties is planning to build a 150 room star class hotel in Weligama Bay, Matara.
The property will come under Weligama Hotel Properties, a subsidiary of East West Properties.
Weligama Hotel Properties has already signed an MOU with Luxury Hotels International Management Company and an Interim Advisory Service Agreement with Marriott International Design and Construction [...]

Bank Of Ceylon on path to achieve ISO certification

Bank of Ceylon says currently they are working towards obtaining the ISO 9001 – 2008 certification.
Accordingly the Bank says it has already established the 5-S system and quality Circles which are primary and supporting requirements to reach the goal.
Already the Banking giant has established 10 quality circles while 2 of them have emerged as front [...]

Indian FMCG firm enters Sri Lanka

An Indian based FMCG firm Dabur India has entered Sri Lanka market with an aim to capture a slice out of the local personal care and healthcare products market.
The Company which is listed in the Bombay Stock Exchange has already incorporated a firm in Sri Lanka under the name of Dabur Lanka Private Limited.
A report [...]

Stock Market on Tuesday

The CSE saw its All Share Price Index plunging by 0.83% while the MPI declined by 1.46% during today’s trading.
Textured Jersey Lanka Limited who made its trading debut ended at Rs. 14. Its IPO issue price was Rs. 15 and the share did not go beyond the issue price on the first day of trading.
Brokers [...]