Ceylon Chamber releases latest Motor Vehicle Industry Report covering key trends in 2019 and 2020

The Motor Vehicle Industry Report, prepared by the Economic Intelligence Unit of the Ceylon Chamber of Commerce (CCC), provides a detailed analysis and overview of Sri Lanka’s motor vehicle industry, covering both 2019 and 2020.

Over 85% of Sri Lanka’s estate community receive first jab; 63% fully vaccinated

The Planters’ Association of Ceylon (PA) and Plantation Human Development Trust (PHDT) announced major progress in their collective efforts to safeguard all residents of Sri Lanka’s estate community, with over 85 percent of the community across seven regions having received their first dose of a COVID-19 vaccine and 63 percent being fully, as at September 10, 2021.

CA SL to discuss best practices, challenges in quarterly reporting information dissemination

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) has organised a webinar, which aims to provide a forum to discuss best practices and challenges in relation to dissemination of financial and non-financial information, which public listed companies are required to carry out, to ensure a transparent robust equity market.

Samsung Sri Lanka Announces the Launch of Galaxy Z Fold3 5G and Galaxy Z Flip3 5G, the Third Generation of Foldable Smartphones

Samsung, Sri Lanka’s No.1 smartphone brand, today announced that pre-ordering for its most powerful and premium foldable smartphones – Galaxy Z Fold3 5G and Galaxy Z Flip3 5G will start from September 16th.

Lyceum Kurunegala celebrates its 5th Anniversary

Couch Safari to go live again

Sri Lanka Tourism has geared up to unveil the second edition of ‘Couch Safari’ by live-streaming the Wilpattu National Park for the global audience.

Economic growth of 5% likely to be a reality: CBSL

The government yesterday sounded upbeat on the possibility of Sri Lanka achieving an economic growth of 5 percent in 2021.

Weak sovereign rating, pandemic continue to pressure Lankan banks

Sri Lanka’s banks’ credit ratings are continued to be pressured by the challenging operating environment stemming from the weak sovereign credit profile and the lingering effects of the pandemic and its toll on the broader economy, according to Fitch Ratings.

Cabraal says CB governorship a crown of thorns he wears happily and ready for challenge

While he knows that the governorship of the Central Bank at this juncture is a crown of thorns, he is ready to wear it with much happiness as challenges excite him, according to Ajith Nivard Cabraal, who assumed duties as the Central Bank’s 16th Governor, yesterday.

Poor economic performance linked to poor economic governance: Experts

Sri Lanka’s poor performance across multiple areas in the economy is linked to the economic governance of the country weakening over the years, despite an ever expanding public sector, according to some leading economists and practitioners of law in the country.

Expert committee to undertake detailed study on mineral deposits and come up with plan for utilisation

The government has decided to appoint an expert committee to undertake a detailed study on the country’s unutilised mineral deposits, in order to come up with a programme to utilise such minerals formally for economic purposes.

Swiss-based firm to invest Rs.84mn in Tess Agro via private placement

Swiss-based IPEK S A Switzerland has expressed interest to infuse Rs.84 million into Tess Agro PLC via a private placement, subscribing to 168 million new voting shares of the company and consequently becoming the largest shareholder of the firm, subject to necessary regulatory and shareholder approvals.

CSE implements new OTC platform to conduct REPO transactions on debt securities

The Colombo Stock Exchange (CSE) yesterday announced the introduction of a new Over the Counter (OTC) platform to facilitate the repurchase (REPO) transactions on corporate debt securities, with effect from today.

Govt. likely to face dilemma between raising taxes and maintaining stable tax policy

As Sri Lanka is only two months away from its 2022 budget, the government is facing the tough choice between raising the taxes to bridge an expanding budget hole caused by the pandemic-induced disruptions and maintaining a stable tax policy, which the government assured and made good on for two years since coming to power.

Samsung Sri Lanka announces launch of Galaxy Z Fold3 5G and Galaxy Z Flip3 5G

Samsung, Sri Lanka’s No.1 smartphone brand announced that pre-ordering for its most powerful and premium foldable smartphones – Galaxy Z Fold3 5G and Galaxy Z Flip3 5G will start from September 16th.

hSenid Mobile launches TADHack Teens Sri Lanka 2021

TADHack, the world’s largest Telco application development hackathon returns for the 7th year in Sri Lanka organized by hSenid Mobile in partnership with Ideamart.

Wijeya Newspapers speeds online multimedia content delivery with Oracle Cloud

Wijeya Newspapers Limited (WNL), Sri Lanka’s largest private news publisher, has boosted the user experience for the growing reader base of its 25 online publications by deploying Oracle Cloud.

BoardPAC appointed strategic partner of Commonwealth’s Business Network - CWEIC

BoardPAC, the Sri Lanka-based multinational Board meeting automation solutions company, has been appointed a strategic partner of the Commonwealth Enterprise and Investment Council (CWEIC),

Fitch affirms People’s Leasing and Finance PLC at A+ (lka), Outlook Stable

People’s Leasing & Finance PLC (PLC), was recently affirmed A+ (lka) with a ‘Stable Outlook’ by Fitch Ratings.

LOLC becomes Mastercard’s first Sri Lankan customer to join its Digital First programme

iPay, a unique payment aggregator introduced by LOLC - has become the first entity in Sri Lankato sign up for the Digital First programme, launched by Mastercard.

Sanasa Life and General Insurance’s digitalization drive gathers momentum

Sanasa Life Insurance Company and Sanasa General Insurance Company have demonstrated their commitment to digitalization by successfully migrating their workflow management to Google AppSheet with the help of Google’s largest local partner in Sri Lanka since 2010, Finetech Consultancy.

Orient Finance enters exciting new era celebrating 40 years of integrity

Orient Finance PLC, a member of the Janashakthi Group and leading financial service provider, celebrated 40 years of trustand integrity.

NTB multiplies foreign inward remittance locations via Singer partnership

Nations Trust Bank (NTB) recently appointed Singer (Sri Lanka) PLC as a sub-agent to disburse foreign inward remittances received through international money transfer companies.

Q+ Payment app upgraded with‘Online Pay’ feature

Commercial Bank has announced that it has enabled an innovative payment experience for the bank’s Q+ customers called ‘Q+ online Pay’ in the Q+ Payment app, the fastest-growing payment app in Sri Lanka.

2Q economic growth surges to 12.3% amid low base effect

Sri Lanka’s economy grew robust 12.3 percent in the second quarter of 2021 despite the COVID-19 virus-induced restrictions on economic activities since late April as a result of an extremely low base in the corresponding period of the previous year.

SLT-MOBITEL clarifies misinformation regarding the management of the Lanka Government Cloud and providing services to NMRA

SLT-MOBITEL’s attention has been drawn to recent media reports citing its management of the Lankan Government Cloud (LGC) server and provision of services to the National Medicines Regulatory Authority (NMRA).

Providing clarity on macro-economic fundamentals first priority of CB: Cabraal

Former MP, Ajith Nivard Cabraal who assumed duties as the Governor of the Central Bank of Sri Lanka (CBSL) today said that the first priority of the monetary watchdog under his leadership will be to shed light on the macroeconomic stance of the economy.

Climate Change to push 260 mil people to migrate by 2050: WB

Climate change, which has become a powerful driver of migration, is likely to push around 260 million people across six world regions to move within their countries by 2050, the World Bank (WB) said.

For the first time in Sri Lanka - #GrandTheftKottu, an immersive e-com gaming experience ft. CBL Sera Kottu Kottu, Isobar, and Kaali Productions

In the Sri Lankan context it’s a challenging task to break into Sri Lanka’s rapidly expanding gaming and experiential market. CBL Sera Kottu Kottu, in collaboration with Isobar Sri Lanka and Kaali Productions, released ’’Grand Theft Kottu’’.

Economists call for extensive review of tax system to improve revenue mobilisation

An improvement in Sri Lanka’s revenue mobilisation effort requires an urgent and extensive review of the tax system, to ensure the government can meet its expenditure commitments, while the country is in the midst of one of the worst macroeconomic crises in its history, economists said.