Biz Briefs

Sri Lanka Insurance marks 50th anniversary

Former Chairman SLIC and Chief of Staff President's Secretariat, Gamini Senarath flanked by MD and CEO of SLI Mohan de Alwis and Executive Director SLIC, P. Kudabalage.

Ratnadeepa at WTC

The National Gem and Jewellery Authority will open a display and sales centre on Tuesday at the World Trade Centre to showcase local talent and to promote small and medium scale industrialists in the gem and jewellery industry,.

The centre will support the SME sector where their products will find a good market among local and foreign buyers.

The shop Ratnadeepa will display hallmarked silver and gold jewellery bearing the government's authority to ensure product quality.

Increase in tax collection

The Department of Inland Revenue targets a revenue of Rs 512 b from taxes this year. This is an increase of Rs 70 b compared to last year.

The Department has collected Rs 369 b upto September this year which amounts to 50 percent of total revenue to be collected by the tax authorities.

There has been continuous improvement in tax collection and government revenue has increased accordingly.

The Inland Revenue Department said that the simplified tax regime has resulted in more revenue for the Government.

Record profits at Samsung

Samsung Electronics has reported record profits in the three months to September, led by strong sales of its Galaxy range of smartphones.

Net profit was 6.5tn won ($5.9 b; £3.7 b), up 91 percent from a year earlier. The South Korean phone maker was also boosted by strong demand at its display panel unit.The results come after quarterly profits from Apple - its biggest rival in phones and tablets - disappointed some investors. -BBC

Singer Finance re-locates Kandy branch

The Kandy branch of Singer Finance recently re-located to a more convenient and spacious location on the Katugastota Road. The new venue was opened by CEO, Singer Finance, Shantha Wijeweera. Senior Managers from Singer Sri Lanka and Singer Finance were present.From left: Director Commercial, Singer Sri Lanka, Mahesh Wijewardena, Snr. Manager, Business Development, Singer Finance, Iman Perera, CEO, Singer Finance, ShanthaWijeweera and Regional Manager, Singer Finance, Kandy, Pradeep Boange.