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Sunday, 26 April 2015

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Celebrating 150 years... : Bogala Graphite completed 150 years in operation recently. Set up in 1865 by the British, the graphite mine has been in continuous operation ever since. The major shareholder of Bogala Graphite, Graphit Kropfmuhl AG Group of Germany has stressed on zero accidents in its mining companies. The company has exported 99 percent of the graphite mined throughout its existence. This remits the much-needed foreign exchange directly to the national coffers. Here the major shareholders of the company sing a German mining song to celebrate successful mining without any mishaps

From autocracy to parliamentary democracy:

Transition should be given a chance- Business leaders

Professionals and corporate personalities stressed the need to give a chance to the transition from autocratic governance to parliamentary democratic form of governance that is taking place in the country. They were vehemently opposed executive presidency which has ruined the country for over 35 years.

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'Yawning gap between agri experts and farmers'

The yawning gap existing between agricultural experts and farmers continued to exist and as a result expertise did not filter down to farmers at the level they needed it most. President Maithripala Sirisena was speaking at the Cargills Saru Bima Farmer awards ceremony at the BMICH last week,

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BoC records Rs 13.6b PAT

Bank of Ceylon (BoC) closed its 75th year recording a profit before tax (PBT) of Rs.20.3 billion, the highest ever in its history, a growth of 29% compared to the previous year. Post tax profit stood at Rs. 13.6 billion, a 12% growth. The Group reported Rs. 21.4 billion PBT, a 33% growth over last year with the Bank dominating the results of the Group accounting for 95% of earnings and 97% of the Groupís assets.

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'Forced mergers, a failure'

The consolidation of banks and non bank financial institutions (NBFIs) to create a robust financial sector in the country has not been satisfactory as mergers, according to financial sector experts were forced by the regulator and not driven voluntarily. Experts said that there cannot be forced mergers. It should be done willingly by entities in the best interest of shareholders.

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