Biz Briefs

People's Bank gets AAA/P1 rating

RAM Ratings Lanka has reaffirmed the long- and short-term financial institution ratings of the People's Bank ("PB" or "the Bank") at AAA and P1; the long-term rating has a stable outlook.

The ratings are premised on the Bank's position as the second largest licensed commercial bank ("LCB") in Sri Lanka, its above-average asset quality, good performance and healthy funding position that is supported by its extensive geographical coverage.

LG brand outlets in more locations

LG Electronics (LG) has expanded to Katunayake, Dalugama, Dehiwala, Kalutara, Panadura, Rajagiriya and Welisara from October 1. It is partnered by Abans.

"LG - Brand Shop outlets will give consumers an exclusive selection in home appliances, electronic products and high tech Smartphones," a spokesman for the company said.

Workshop on Bills of Lading

The Shippers' Academy Colombo (SAC) will conduct a workshop on Bills of Lading on October 9 from 8.30 a.m. to 12.30 p.m. at the Sri Lanka Foundation Institute.

The workshop is for shipping lines, exporters, importers, merchandisers, freight forwarders, logistics companies, banks, insurance companies, lawyers and any person dealing with international trade.

The Bill of Lading is a key document in cargo liability, payment and title of goods that could be referred by global traders and related service providers when disputes arise.

TFC refurbishes Badulla branch

The modernised The Finance Company (TFC) Badulla branch, offering more spacious surroundings was opened at Ward Street, Badulla. This branch has been in existence for 33 years.

The Company has also modernised the Galle branch which marked 25 years of service last week. More branches are being refurbished.

The organisation is taking measures to ensure greater customer convenience at all branches islandwide.

This involves taking steps towards refurbishing other branches.

Rainco umbrellas unfurled at Fashion Week

Rainco, a leading brand for rainwear in South Asia with a presence in India, the Maldives and Sri Lanka, unfurled its designer range of umbrellas at the Resort Wear show, the latest addition to the Colombo Fashion Week portfolio at Jetwing Lagoon.

The Resort Wear Show will be a permanent feature at future Colombo Fashion Week shows.

Rainco has a range of umbrellas including fashion umbrellas for women, children's umbrellas and a complete selection of unique and sturdy men's umbrellas in full size and are compact.

Odel to mark World Animal Day

The Sri Lankan elephant will be the focal point of an awareness campaign to be conducted by Odel next month, as part of the department store's commitment to World Animal Day, on October 4.

Themed 'Nothing can replace the real thing,' the campaign will run from October 1-20, and Odel has created a limited edition collection of merchandise to support this initiative.

Part of the proceeds from the sale of T-shirts, caps, bags, mugs and key chains created for World Animal Day 2012 will be donated to Ath Athuru Sevana - the Elephant transit home in Udawalawe at the conclusion of the campaign, a media release from Odel said.

Richardson drives Eaton to new heights

Moeller and Eaton, two of the most established and respected names in the electrical sector came together as Eaton acquired Moeller in 2008. Eaton Corporation, established in 1911 is a diversified power management company with 2011 sales of $16.0 b, a media release from the company stated.

In Sri Lanka, the Moeller brand has been represented for over a decade, by Richardson Projects Ltd - a subsidiary of the Richardson Group, an electrical products and infrastructure development company.

Buildings such as the Central Bank and Hambantota Convention Centre use Eaton's complete range of Moeller products for power distribution and control and monitoring systems.

Amana Takaful in Kalmunai

Amana Takaful PLC opened an office in Kalmunai recently. Here the chief guest, Chief Executive Officer, Fazal Ghaffoor cuts the ribbon to open the office. Business Development Manager I. Abdul Careem, Senior Manager, Sales and Distribution, M. Nazeem Ghaffoor, Senior Manager, Sales and Distribution, S.H. Asif, Regional Manager, Eastern Province, M.S. Niyas and Branch Manager S. Sibly look on. Pic: I.L.M. Rizan, Addalaichenai Central Corr.