Lanka News – Lanka Gazette – Sri Lanka News Portal

The conviction of Sri Lanka-born Raj Rajaratnam for securities fraud and conspiracy in the biggest Wall Street insider trading case in three decades has given this country a lot of global publicity though obviously for the wrong reasons. Now a US citizen, Rajaratnam was educated in Britain and later at Ivy League colleges in the US, his father having served as a senior executive of the multinational, Singer, first in Sri Lanka and thereafter at corporate headquarters in New York. Continue Reading

Life insurance leader Ceylinco Life has opened a new office in Moratuwa at a company – owned building at No. 509, Galle Road, Rawathawatta, Moratuwa, to better serve residents of this busy suburb.

The new two-storey branch office with 4012 square feet of office space also has a training centre that can accommodate up to 120 participants at a time.

Continue Reading

The Annual Agribusiness Awards, organized by the National Agribusiness Council fulfills a much needed requirement to recognize institutions in the Agricultural Business area. It is being held for the fifth consecutive year this time, concurrently with the Ag-Biz Trade fair, scheduled from the 20th to 22nd August 2010 at Sirimavo Bandaranaike Memorial Exhibition Centre.

The National Agribusiness Awards are in recognition of performance and contribution by the formal business sector towards the development of agribusiness in Sri Lanka. The awards will be sector based, grouped Small Medium and Large Category while segmented into the sectors of Input suppliers, Services, Producers, Processors, and Marketeers.

Continue Reading

Packard (HP) has partnered with Metorpolitan to provide greater access to the range of genuine HP consumables for customer’s of HP printers in Sri Lanka. The complete range of genuine HP consumables such as ink cartridges and toners can now be purchased at any Metropolitan consumables outlet at no additional cost.

Consumers can also be assured of manufacturer warranty for the items they buy through Metropolitan. The extensive branch network of Metropolitan spread from Jaffna to Hambanthota will help HP product users to access necessary consumables through the Metropolitan network.

Continue Reading

Industrial gases manufacturer Ovin Gases is planning a fully integrated and independent CO2 plant at their templeburg estate premises.

Established in 1998 by a group of Sri Lankan entrepreneurs with an intent and drive to build a truly Sri Lankan company capable of holding their own, Ovin has since grown to include Industrial Oxygen, High Purity Nitrogen, Dry Nitrogen, Medical Oxygen, Breathing Air and Acetylene. The company also imports and distributes Argon, Argo shield, Argon 90% + Nitrogen, Carbon Dioxide, Calibration gas, Helium, Hydrogen, Nitrous Oxide and in addition is currently setting up an independent CO2 plant. The company has grown and expanded on a rapid pace with an enviable clientele which includes almost every sector.

Continue Reading

The Commercial Bank of Ceylon has opened a Customer Service Point at Nawam Mawatha, Colombo 2, to serve the many corporate sector entities with offices at what is sometimes referred to as ‘Sri Lanka’s Wall Street.’

Located on the ground floor of the IBM II Building at 46/4, Nawam Mawatha, the new outlet stays open from 9.00 am to 3 pm on week days. It is equipped with an Automated Teller Machine that is linked to the Bank’s network of 366 ATMs and 177 branches.

Continue Reading

In keeping with the Etisalat brand promise "it’s about you" Etisalat Lanka partners with hSenid Mobile in launching the country’s first Mobile Application platform- not only allowing users to browse and download applications, but significantly creating the opportunity for Sri-Lankan mobile application developers to create, test & sell their own unique applications.

Within the last decade the mobile phone has come a long way. Now not only does the mobile phone provide its user with the basic functions such as making calls and sending sms but it also provides heaps of other value added services. Most of these value added services are now delivered to the end consumer using a mobile application. However due to the complexity of development of applications, application development was limited to a few professionals.

Continue Reading

Under the patronage of Conventional Industries and Small Scale Enterprise Development Ministries, the National Crafts Council has organized "Shilpa- 2010 National Handicrafts Exhibition to be held from July 22 to 25 at the BMICH.

In addition to that Lanka Industrial Development Board too will also hold a small scale industrial exhibition, consisting of 150 trade stalls with Salpila.

Continue Reading

Stocks closed 0.1 percent lower Tuesday as retailers took profits from mid and low cap stocks, despite banks making gains, brokers said.

The All Share Price Index closed at 4,606.69, down 6.07 points, while the Milanka index of more liquid stocks rose 0.27 percent (13.95 points) to close at 5,271.03.

Continue Reading

SINGAPORE (AP) — Oil prices hovered above $75 a barrel Tuesday in Asia as traders mulled whether the recovery of the global economy is strong enough to sustain improving crude demand.

Benchmark crude for July delivery was up 20 cents to $75.33 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose $1.34 to settle at $75.12 on Monday.

Oil prices have traded in a $70 to $80 range so far this month after dropping from $87 to $64 last month amid fears Europe’s debt crisis could hurt global economic growth. On Monday, credit rating agency Moody’s lowered its rating on Greece’s debt to “junk” status.