Biz Briefs  

GDP grows 6.4 percent

Sri Lanka's gross domestic product (GDP) grew 6.4 percent in the first quarter of 2015 with the agriculture sector growing 0.7 percent, industries 6.5 percent and services 7.5 percent. The GDP grew 7.6 percent in the first quarter of the previous year.

The three main pillars of the economy, agriculture, industries and services sectors have shared the GDP at constant price (2002) by 10.9 percent, 32.7 percent and 56.3 percent in the first quarter of 2015.

The sub-sectors that reported higher growth rates compared to the first quarter of 2014 are tea, other food crops, coconut, mining and quarrying, manufacturing, electricity, gas and water.

Singer wins Gold

Singer Sri Lanka was recently recognised as one of Sri Lanka's top 20 work places for the second consecutive year by the Great Place to Work Institute.

Singer also won the Gold award in the Large Enterprises category (over 750 employees). "We're proud to be ranked once again on Sri Lanka's best Work-places," said, Group Chief Executive Officer, Singer Sri Lanka, Asoka Peiris.

According to the 2015 survey conducted by Great Places to Work Institute, Singer received above average industry ratings in credibility, respect, fairness, pride and camaraderie when compared to the 2014 results.

Hotel Asia Exhibition

The Maldives' largest annual food and hospitality event 'Hotel Asia Exhibition and International Culinary Challenge 2015' will be held at Dharubaaruge Exhibition Hall, Male, Maldives from August 23-26.

The event is supported and endorsed by the Ministry of Tourism of Maldives along with the Sri Lanka-Maldives Bilateral Business Council and the National Chamber of Exporters of Sri Lanka, who will host two major pavillions.

This year's event will be held during a significant time when the Maldives celebrates 50 years of Independence.

NDB debentures - oversubscribed

NDB having structured and placed the largest corporate debenture issue to be listed on the Colombo Stock Exchange, saw another similar sized debenture being successfully oversubscribed and closed on the opening day itself.

The Rated Unsecured Subordinated Redeemable Debentures with a face value of Rs.100 each, amounting to Rs 10 billion with a five-year tenure was assigned a rating of 'A+ (lka)' by Fitch Ratings Lanka Limited. There was a significant corporate and retail participation and the value of applications received was over Rs 13 billion.

Govt to re-open collapsed industries

Finance Minister Ravi Karunanayake at the Re-opening of Adam Carbons (Pvt) Ltd at Giriulla. Pic: Sarath Peiris

Coca-Cola refreshes pilgrims

Coca-Cola Beverages Sri Lanka, recently participated in the Poson Poya  celebrations. Continuing a decade old tradition, Coca-Cola set up kiosks to provide pilgrims refreshing beverages on their journey to the ancient capital Anuradhapura to commemorate the sacred Buddhist festival on Poson Poya day. Here pilgrims wait to enjoy Coca-Cola beverages.