Biz Briefs

Tea production down

A weak December pulled Sri Lanka's tea crop for 2014 down to 338 mnkg, against the record 340 mnkg achieved in 2013. As at November the cumulative gain for 2014 was 4.5 mnKg, against 2013. The last occasion Sri Lanka crossed the 330 mnkg level was in 2010 when the total reached 331mnkg.

The December 2014 production figure of 24.3 mnkg declared by Sri Lanka Tea Board is a sharp 20% lower than the previous year’s record figure of 30.2 mnkg, which seems exceptionally low.

All three elevations fared poorly in December but Low Growns in particular (15.3 mnkg) dropped to a level not seen since the crisis year of 2008.

HSBC whistleblower's email uncovered

An email which the whistleblower at the centre of the HSBC tax row, Herve Falciani, says that he sent to HM Revenue and Customs in 2008 has been uncovered by a French newspaper.

HMRC said it had no record of the email. But Falciani said he had offered it information on clients from one of the five biggest private banks “in the world” that is “based in Switzerland”.

Le Monde has since uncovered the email and shown it to the BBC.Falciani said he felt vindicated.

“It required seven years of battles to get the point we are now. It proved that I was right," he said.

HNB Assurance records 20 percent turnover growth

HNB Assurance PLC has completed its last year as a composite insurance company by recording a 20% growth in its turnover during the year ended December 31, 2014.

Its General Insurance sector achieved a 25% growth in Gross Written Premium while the Life Insurance sector delivered a 16% growth. The company outperformed the industry by a considerable margin in both markets improving its market share to 4% in General Insurance and 5% in Life Insurance.

While achieving a significant expansion in business volumes, the company achieved a 7% growth in Profit After Tax. This is the 10th successive year in which the company delivered a growth, in turnover and profits.

Greek ‘compromise possible'

German Chancellor Angela Merkel has said a compromise is possible in the stand-off with Greece over its bailout terms.

But Mrs Merkel told reporters as she arrived for a conference with other EU leaders that “Europe's credibility depends on us sticking to rules”.Greece opposes extending its bailout deal, saying it is damaging their economy. On Wednesday, talks with other eurozone members failed to reach an agreement.

However, both sides said there was still hope for a deal. Eurogroup President Jeroen Dijsselbloem said the talks had been “constructive”.Greek Prime Minister Alexis Tsipras said as he arrived in Brussels for the summit that he was “very confident” a solution could be found to what he called the EU's “humanitarian crisis”.

- BBC

Debug Group fetes long-serving employees

The Debug Group of Companies which celebrated its 25th anniversary last year, felicitated long serving staff members for their loyal service, dedication and commitment to the company at the company auditorium recently.

Chairman Moiz Najmudeen, the board of directors and senior management were also present.The Debug Group offers products and solutions and sets new standards in sales and service nationally and internationally.Sixteen staff members were presented certificates and gold coins as a tribute for their allegiance to Debug stretching from 10, 15, 20 and 25 years with the Group.

Nolimit goes for mega promotion

Nolimit launched its annual mega promotion ‘deedat’ – ‘Ride with Style’ at Nolimit - Image in Wellawatte to reward customers. The mega promotion which was introduced in 2010 is running into the fourth season this year.

Those who purchase deedat items worth a minimum of Rs. 3,000 from any of the Nolimit or Glitz outlets islandwide upto March 15 will qualify to be among the five lucky winners to own an Apache RTR motorcycle at the grand draw

.-SJ

Ceylinco Life opens branch in Batticaloa

Ceylinco Life opened a branch in Batticaloa in a custom-built building on company-owned land, further consolidating its presence in the East.

The four-storied building at Lloyd’s Avenue, Batticaloa, provides 12,320 square feet of space that accommodates four branches of the company.

The first floor is used as office space, while the top floor consists of a spacious training room that benefits the staff of the branch and those in nearby branches of Ceylinco Life, a company official said.

The building also comprises an 80 person multi-function room, a rooftop recreational area, elevators and a spacious car park.

Rhino Roofing launches Wasana Rella 2

Roofing and ceiling sheets manufacturer and marketeer, Rhino Roofing Products Ltd, recently launched Rhino Wasana Rella 2 competition recently. It will conclude in April.

The competition is aimed at maintaining the position of Rhino products in the local market and to enhance the popularity of the brand.

This is the second time that Rhino is conducting such a competition. The first Rhino Wasana Rella launched in 2012 was a success.

There are many prizes on offer for the winners including a Rs 4 million new Toyota Pirus C car and the second prize will be five, 150cc Pulsar motorbikes and the third will be money back up to Rs 75,000 for three winning customers.

There will also be 10 LED 32’ TV sets and five washing machines on offer. Rhino has served the nation as a roofing material provider for more than 50 years.

-SJ

SLT provides ICT facilities to Madhu church

Sri Lanka Telecom (SLT) has completed the installation of LED screens at the Madhu Church premises in Mannar.

The system was first implemented during the visit of Pope Francis to Sri Lanka in January.

The Madhu church is a venerated place of worship which is frequented by a large number of Catholic devotees from all over the island.

The church building cannot accommodate the large number of people who flock for mass due to inadequate space, thereby leaving many standing outside and unable to view and properly participate in the service held within the church.

This inconvenience was addressed by SLT with the installation of cameras in the church with a live feed to five LED screens set up in the church premises, enabling thousands of devotees who throng the church premises from all parts of the country to participate in the service.