Financial News | Sundayobserver.lk

The Heladiv Tea Club (HTC) will be commissioned at the old Dutch Hospital precincts on Tuesday.

The chief guest will be Minister of Plantation Industries, Mahinda Samarasinghe.

Indian rupee hits new record low against dollar

MUMBAI, - The Indian rupee continued its downward spiral against the US dollar, hitting another record low due to concerns over eurozone debt crisis and weak domestic data.

The Indian unit - Asia’s worst performing currency this year — was trading at 54.21 to the dollar, which has now gained more than 21 percent against the rupee since March.

India’s central bank has said it will act to prevent a further downward spiral of the rupee, which has been hit by global financial uncertainty, as investors abandon riskier emerging market currencies for safe havens.

LOLC Micro Credit felicitates over 200 Grade five scholars

LOLC Micro Credit Ltd. (LOMC), the microfinance company of LOLC Group, awarded Isuru Diriya Sisu Upahara Scholarships. Ajith Nivard Cabraal, Governor of the Central Bank was the Chief Guest.

Held for the second consecutive year, “LOLC Isuru Diriya Sisu Upahara” recognises the educational achievements of students who excelled at the Grade 5 scholarship examination held this year. The students who were felicitated were children of LOMC’s group borrower clientele from rural areas.

Hope at home, gloom abroad

WASHINGTON - Something is stirring in corporate America.Heading into 2012, years of nervous uncertainty about the fate of the world’s largest economy has been replaced with a slightly different form of nervous uncertainty.

“We’re probably not moving into a double-dip recession,” said Brian Derksen, deputy CEO of Deloitte Touche Tohmatsu, the global advisory firm.

-AFP

China manufacturing still shrinking- HSBC

BEIJING - China’s manufacturing activity continued to contract in December, banking giant HSBC said as exports are hurt by the ongoing crises in the crucial US and European markets.

The preliminary HSBC purchasing managers’ index (PMI) reached 49 in December, slightly better than the 47.7 in November, as consumers from New York to Paris cut back on holiday spending due to the dire outlook. A reading above 50 indicates the sector is expanding while a reading below 50 suggests a contraction. The final figure will be released on December 30 -AFP

Microsoft Country Manager takes on regional responsibility

Country Manager for Microsoft in Sri Lanka Sriyan de Silva Wijeyeratne has been appointed to the Consumer Channels Group (CCG) for new markets in South East Asia region. The CCG will create greater alignment for consumer products between Microsoft and its channels.

In addition to his role as Country Manager for Sri Lanka, Sriyan will focus primarily on the SEA new markets' OEM business (Original Equipment Manufacturer) for PCs, and the windows mobile phone. He will support all retail executions across Sri Lanka, Nepal, Bangladesh and the Maldives.

Nokia launches all-screen smartphone

Nokia, joined Dialog Axiata to launch its latest smartphone, the N9 in Colombo, recently.

As part of the partnership with Nokia, Dialog offers special deals comprising free i250 per minute package valid for six months and a free 1GB data package for 12 months.

Prenita Fashions greets the festive season

Chief Guest Ratnapala Samaraweera opens the refurbished, three-story outlet of Prenita Fashions. Proprietor of Prenita Fashions, Priyanthi Fernando (left) and Shanthi Jayawardana are also in the picture.

Prenita Fashions, has put out a new collection of womens attire Kurta tops, dresses, shoes and hand bags and sarees. Ten percent and 20 percent discounts were given to customers who visit the store during the season.

'ifresh' range launched

'ifresh' products was launched recently by Rovican International (Pvt) Ltd. 'ifresh' products can be used under any environmental conditions.

Director Roshane Fernando, said that the range of 'ifresh' products stretches from hygiene and beauty care cleansing wipes to optical cleansing purposes.

The wipes are dermatological tested and specially formulated with vitamins and is alcohol free. Rovican International Ltd is headed by the Managing Director Gerard Fernando, with Director, Varuni Fernando and Head of Sales Virginia Corera.

hSenid Mobile wins Manthan Award South Asia 2011

hSenid Mobile's Cloud Telco Application Platform (Cloud TAP) won the Manthan Award South Asia 2011 under the e-infrastructure category recently. The Manthan award is the first of its kind recognising best practices in e-Content and creativity in South Asia. hSenid Mobile was adjudged a winner among 450 nominations covering several categories Founder/CEO, hSenid Mobile Dinesh Saparamadu received the award at a ceremony held in New Delhi recently.

Flexiprint wins award at NBEA

Flexiprint caters to the printing needs in the tea bag industry for tea bag tags and envelopes and tag pyramid mesh, won an award in the printing sector at the recently concluded National Business Excellence Awards held at Hilton Colombo. The NBEA is organised annually by the National Chamber of Commerce to recognise excellence of the business community in Sri Lanka.

Amana Takaful PLC donated 20 computers to Zahira College, Colombo recently. Here Amana Takaful General Manager Sales and Marketing Adel Hashim handing over the computer to the Principal Mohamed Jiffry, Deputy Principal Rizvi Marikkar, Vice Principals, Ananda Ponnamperuma
and K. Ravindran, Amana Takaful General Manager Zaidh Aboobucker and Senior Manager Nazeem Ghaffor are also present. Pix: Ruzaik Farook

Biz -BRIEFS

Heladiv Tea Club to be set up at old Dutch Hospital