Lanka News – Lanka Gazette – Sri Lanka News Portal

It is said that the substantive significance of planting a tree has universal power in every culture and every society on Earth, and it is a way for individual men, women and children to participate in creating solutions for the environmental crisis.June 5, 2010 was a significant day for the Hatna team as the Bank celebrated the first anniversary of the “HNB Green Pledge”. Exactly one year after taking the Green Pledge and implementing internal best practices, the Bank launched its tree planting campaign in a bid to reduce and reverse its carbon footprint. This would ensure that HNB in addition to reducing its consumption would also be replanting the number of trees inevitably used in the course of business – for paper etc.

Two teams from Mawanella and Vavuniya were entrusted with the task of inaugurating the Phase II of the Green Pledge. The Mawanella project was ceremoniously inaugurated by the Managing Director/CEO, HNB R Theagarajah and Deputy General Manager HR and Administration, J R P M Paiva.100 school children from Mayurapada College, Rivisada College, Baminiwatte College and Thammita Maha Vidyalaya of Mawanella also participated in this programme. A special awareness session was conducted at Mayurapada College, Mawanella by Dr Sudarma Yatigammana, Senior Lecturer, Zoology Department, University of Peradeniya.

Continue Reading

With business and product lines expanding considerably, Abans Auto recently moved to their spacious new showroom and sales office at No.412, Negombo Road, Peliyagoda in front of the Micro factory. Abans Auto has successfully established assembly lines for production of Jailing 49cc and 125cc motor cycles and Sazgar 3 wheelers. In addition to assembling motor cycles and three-wheelers, Abans Auto also import a range of commercial vehicles from Force Motors, India, Passenger vans and trucks and single and double crew cabs from Dongfeng, China. Abans are also sole agents in Sri Lanka for GEELY- the most economical and affordable full option luxury sedan available in Sri Lanka.

Abans Auto have just launched the Jinbei – Haise 14 seater passenger van and also the Jinbei – Haise Cargo Van. Both vehicles have been tried and tested for economy and profitably for those engaged in the transport business, and have been proved ideally suitable for our road conditions.Force Motors, one of India’s leading Vehicle manufacturers, combined in strength and service potential with Abans Auto, a member of the prestigious Abans Group of Companies to proudly represent their company in Sri Lanka and afford opportunities to Sri Lankans to acquire reliable and affordable vehicles that suit our road conditions and terrain.

Continue Reading

Nations Trust Bank opens its 40th branch in Yalpanam (Jaffna), giving residents in the North an opportunity to experience exceptional service in banking combined with extended banking hours 365 days of the year. NTB will now connect Jaffna with the rest of the country helping the people of the area to reach out through a banking network that’s connected island wide offering greater convenience for all their transactional needs.

The new branch was declared open on June 7 in the presence of distinguished invitees and key personalities in keeping with the Tamil and Hindu culture. Commenting on the opening of this branch, Advisor to Personal Banking Centers Dr. Ranee Jayamaha and is the sole issuers and acquirer for American Express credit cards in Sri Lanka the President on Banking, said, “Economic development in the Northern Province would be facilitated through the enhancement of banking operations, thereby leading to greater financial inclusion and better access to finance. Towards that end, the Government and the Central Bank are deeply committed, and I congratulate the Nations Trust Bank for opening their branch in Jaffna today.”

Continue Reading

Emirates (www.emirates.com), the Dubai-based international airline has placed an order with Airbus for an additional 32 A380 aircraft taking the total firm order for the iconic flagship of the 21st century to 90 super-jumbos. The order for the additional aircraft has a list price of $US 11.5 billion (AED 42.2). The agreement was signed during a ceremony at the Berlin Air Show by Chairman and Chief Executive, Emirates Airline and Group, Sheikh Ahmed Bin Saeed Al-Maktoum and Airbus President and CEO, Tom Enders, which was witnessed by German Chancellor Angela Merkel and other dignitaries.

“This latest order, adding to 58 A380s previously ordered, affirms Emirates’ strategy to become a world leading carrier and to further establish Dubai as a central gateway to worldwide air travel. The A380 is our flagship in terms of passenger comfort, innovation, operating and environmental efficiency and revenue generation,” said Sheikh Ahmed Bin Saeed Al- Maktoum. “Our latest commitment signals Emirates’ confidence in the growth to come in a thriving aviation sector as we build our fleet for tomorrow,” he added.

Continue Reading

During President Mahinda Rajapaksa‘s first post-election visit to India last week saw the signing of number of agreements on infrastructure development in the war-torn North-East and regarding further economic cooperation. Later the two countries issued a joint statement which comprised of the contents in these agreements.

Following is an excerpt of the Joint Declaration which contains the key points that represent the economic front.The official discussions between the two sides were marked by friendship, mutual respect and understanding. The President of Sri Lanka and the Prime Minister of India agreed that the shared cultural and civilisational heritage of India and Sri Lanka and the extensive people-to-people interaction provided the foundation to build a vibrant and multi-faceted partnership. India-Sri Lanka relations have matured and diversified with the passage of time, encompassing all areas of contemporary relevance, including trade, services and investment, development cooperation, science and technology, culture and education.In consonance with their vision of the future of the India-Sri Lanka relations, the two leaders agreed to further harness the enormous potential available for consolidating and strengthening the bilateral partnership by building on shared values and principles of democracy and pluralism, leveraging common strategic concerns and interests, enhancing connectivity between the two countries, increasing the integration of their economies, and reinforcing the institutional framework for cooperation.

Continue Reading

Much to the delight of everybody, the government slashed taxes imposed on vehicle imports. Consequent to this reduction, an Indian Maruti Car, which is highly popular among the average riders in the country, will be taxed at the effective tax rate of 90%, instead of the 183% effective tax rate earlier.

It is quite obvious that government was encouraged to take this decision driven by revenue considerations in order to retain the IMF standby arrangement for which it must contain the budget deficit. As excise taxes imposed on vehicle imports proved excessive the excise revenue earned from imports of vehicles consistently declined during the last few years as volumes of motor vehicle imports were contracting in each year given the extremely unreasonable levels of high taxes. However, with the expected rise in volumes of vehicle imports the government is hopeful that it will generate a large sum of taxes to fill its coffers to prevent incurring yawning budget deficits that Sri Lanka is always synonymous for. The present high level of foreign reserves in the country too would have motivated the government to reduce duties on vehicle imports.

Continue Reading

By Azhar RazakSri Lanka’s Carson Cumberbatch Group says that the recent proposal made by its Director Board to bring all of its South East Asian oil palm plantations under its Singapore subsidiary, GoodHope Asia Holdings Ltd (GAHL) will result in a significant enhancement of production volumes in the medium to long-term. The move is part of restructuring the group to create an integrated plantations firm with a bigger asset base and greater bargaining power.

“This proposed transfer will facilitate GAHL to expand its plantations and integrate with the industry value chain on the strength of higher combined volumes. Further, the consolidation of plantation sector assets under GAHL will enable GAHL to derive economies of scale, synergies in management and enhance its bargaining power with financiers, suppliers and its competitive position within the industry in the region,” a recent statement issued by the company to the Colombo Stock Exchange stated.According to the statement, upon completion of the two proposed transfers, the entirety of Carson Group’s plantation sector assets and the land bank will come directly under GoodHope Asia Holdings Ltd (GAHL), which will undertake all future plantation sector investments as the regional plantation sector holding entity.The two proposals are that Carsons unit, Bukit Darah to transfer a 70 percent stake held in PT Agro Bukit (PTAB), an Indonesian firm to GAHL and the transfer of a 13.33 percent stake held by Bukit Darah in Shalimar Developments of Malaysia to GAHL.

Continue Reading

By Azhar RazakSri Lanka’s renowned tableware manufacturer, Dankotuwa Porcelain Ltd (DPL) is on the verge of liquidation due to the Trade Unions (TU) being reluctant to sign a proposed 3 year collective agreement drafted by a prospective investor. According to a top official, the trade unions had declined to sign the agreement since in their point of view, some of the terms and conditions in the agreement will cut down the benefits given to employees that they used to enjoy.

Continue Reading

Sri Lanka’s premier computer manufacturer EZY, who have lived up to their promise of ‘making computers – simply affordable’, have joined The Editors Guild of Sri Lanka and the Sri Lanka Press Institute in rewarding all award winners a laptop computer at the annual Journalism Awards for Excellence 2009 to be held on July 27. EZY, a fully owned subsidiary of EZY Holdings, will be gifting 24 laptops to award winners in 14 categories, with the Journalist of Year carrying the top award being rewarded with the company’s newest product which is yet to be launched.

The Editors Guild and the Sri Lanka Press Institute have been conducting the Journalism Awards for Excellence annually for the past 11 years recognising journalistic achievement in the print media with the event regarded as the local “Pulitser.”

Continue Reading

‘As the leading engineering solutions provider in Sri Lanka, DIMO has always operated with local interests in mind’ said CEO of DIMO, Ranjith Pandithage on the recent opening of the newest DIMO branch at Embilipitiya.With over 70 years of experience and know-how, DIMO is well established as Sri Lanka’s leading engineering solutions company, and known for representing some of the world’s best engineered brands in Sri Lanka. ‘Most people look at DIMO and see a company that specialises in automobiles, but what they don’t know is that the company’s focus areas range from everything from agricultural equipment to marine engineering, and even caters to the needs of the medical and construction sector.”‘As Embilipitiya is a central hub of farming and agriculture at the apex of its rice production, it was only a natural step for DIMO to make its solutions available there’ he added.As DIMO represents Mahindra Tractors, TATA Commercial Vehicles and Claas Harvesters, the agricultural sector in Embilipitiya will no doubt benefit from their presence. Customers will also have the convenience of purchasing spares and other products at the new branch including TATA Genuine Spare Parts, Michelin Tires, Bosch Power Tools and Osram Lighting.The showroom is the 12th island wide DIMO branch. With a service driven attitude, DIMO has certainly opened new windows of opportunities for the area and is a welcome addition to the industrial landscape in Embilipitiya.