Dialog Axiata and Ministry of Education to Launch 10 TV Channels for Education on Dialog TV and ViU Mobile TV Free of Charge

Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, signed a Memorandum of Understanding (MoU) with the Ministry of Education to deploy 10 Education Channels which are provided absolutely free over Dialog Television and in ViU App. In the first phase, four channels were launched on 7 September 2021

CB further tightens noose on imports to preserve currency

The Central Bank of Sri Lanka (CBSL) announced today its decision to impose a 100 percent cash margin deposit requirement against the importation of selected goods of non-essential/non-urgent nature made under Letters of Credit and Documents against Acceptance terms with Licensed Commercial Banks and National Savings Bank, with immediate effect.

No lockdown travel restrictions for tourists

Quoting a health communiqué issued by Director General of Health Services Dr. Asela Gunawardena, on September 3, the Sri Lanka Tourism Promotion Bureau (SLTPB) yesterday in a statement said the prevailing lockdown and travel restriction rules would not apply to international tourists visiting Sri Lanka.

Aug. records highest monthly tourist arrivals so far this year

Sri Lanka received the highest monthly tourist arrivals of 5,040 in August so far this year, amid relatively eased COVID-19-related restrictions globally and locally, aggressive vaccination drive and growing consumer confidence.

Sri Lanka added to CDC’s ‘very high’ COVID-19 travel risk list

CNN: Sri Lanka and Jamaica in the Caribbean are now among the highest-risk destinations for travellers, according to the US Centres for Disease Control (CDC) and Prevention’s travel advisories list, which was updated on Tuesday.

Avenues to raise funds via Panda and Samurai bonds still remain open for Sri Lanka: CB

The options to raise funds via Panda and Samurai bonds remain still open for Sri Lanka to shore up its foreign reserves, which fell to more than 11-year lows in July, before recovering last week after receiving US $ 1.2 billion in fresh inflows from multiple sources.

ICTA launches 10,000 Ideas initiative to boost SL’s tech ecosystem

Sri Lanka yesterday saw the launch of its first-ever national ‘technovation’ programme ‘10,000 Ideas’, an effort that is aimed at connecting entrepreneurs to the larger entrepreneurship ecosystem.

Shares extend losing streak, financials and industrials weigh

Sri Lankan shares slumped for a third straight session yesterday, dragged by heavy losses in the financial and industrial companies.

SLTDA requests relaxed health guidelines to accommodate Russian tourists

The Sri Lanka Tourism Development Authority (SLTDA) this week put forward a series of requests to the Ministry of Health (MoH) to relax the health guidelines imposed to prevent the spread of the COVID-19 virus, an effort to make the island nation more appealing to mainly Russian and other tourists.

CSE approves in principle to list ComBank’s Rs.10bn debenture

Sri Lanka’s largest private bank Commercial Bank of (Ceylon) PLC is gearing to raise up to Rs.10 billion via a listed debenture issue and the Colombo Stock Exchange (CSE) in principle has approved an application to list the said debentures.

CB exploring ways to provide working capital funding to aid pandemic-hit SoEs

The Central Bank is looking at how to meet the Cabinet decision to provide concessionary rate working capital for nearly 300 state-owned enterprises, whose finances are badly hit hard by the pandemic-induced stresses.

Kelsey Homes appoints Prof. Weddikkara to the Board

Kelsey Developments PLC, a member of the Janashakthi Group announced the appointment of Prof. Chitra Weddikkara as an Independent Non-Executive Director of the organization with effect from 2nd September 2021.

MAGA Engineering begins construction of new housing complex at Malapalla

MAGA Engineering has begun the construction of a new 10-storey medium-rise housing complex as part of the government’s Railway Efficiency Improvement Project (REIP) and Colombo Suburban Railway Project (CSRP).

SLT-Mobitel provides smart building technologies for One Galle Face Mall and One Galle Face Tower

SLT-Mobitel, the national ICT and telecommunication service provider, recently signed an agreement with Shangri-La Hotels Lanka (Private) Limited to provide a range of digital solutions for its One Galle Face Mall and One Galle Face Tower.

CIOB urges government not to halt procurement for infrastructure projects

The Ceylon Institute of Builders (CIOB) says the recent Cabinet decision for cessation of government procurement for infrastructure projects with immediate effect, is not the way to relieve the country of its dangerous economic predicament.

Sampath WePay presents Sri Lanka’s first Digital Man of the Match Award

Sampath Bank became the first bank in Sri Lanka to present a Man of the Match award digitally at a cricket match, giving away a prize purse of Rs.300, 000 through its widely popular digital wallet, Sampath WePay,at the recently held first ODI of South Africa’s tour of Sri Lanka.

Nations Trust Bank’s Amex offers extended settlement plans on MyFees.lk

Nations Trust Bank American Express recently announced its tie up with MyFees.lk making it convenient for American Express Cardmembers to settle any educational fee online at a range of leading educational institutions in Sri Lanka with the added advantage of an extended settlement plan.

NDB Wealth promotes social and financial responsibility

NDB Wealth Management as a responsible corporate citizen, promotes safety as a social responsibility and calls individuals and businesses to focus on being socially and financially responsible considering the current conditions in the country and world at large.

Allianz Lanka wins ‘Claims Initiative of the Year’ award at Insurance Asia Awards 2021

Allianz Insurance Lanka Ltd received the ‘Claims Initiative of the Year - Sri Lanka’ award at the Insurance Asia Awards 2021 held recently.

HNB shares insights from the ‘new normal’ in banking with leading Asian peers

Top management of Sri Lanka’s premier private sector retail bank, HNB PLC, shared insights on banking in the ‘new-normal’ with Asian industry leaders representing some of the region’s most dynamic banking giants, at the recently concluded 37th General Meeting and Conference of the Asian Bankers Association (ABA).

SLTDA requests MoH to relax health guidelines to accommodate Russian Tourists

The Sri Lanka Tourism Development Authority (SLTDA) this week put forward a series of requests to the Ministry of Health (MoH) to relax the health guidelines imposed to prevent the spread of the Covid-19 virus, an effort to make the island nation more appealing to tourists.

CB asks banks not to quote above Rs.200 when buying dollars

The Central Bank has written to banks asking them not to quote outside Rs.200/Rs.203 level for US dollars on all foreign exchange transactions as banks were quoting Rs.238 for a dollar by Monday amid exporters continuing to withhold selling dollars in the domestic market to book massive conversion profits hoping that the rupee would further shed value.

Kassim family-owned Expack plans to raise Rs.700mn via IPO offering 15% stake

Sri Lanka’s largest corrugated cartons manufacturer Expack Corrugated Cartons (Pvt) Ltd. plans to raise up to Rs.700 million offering 15 percent stake in the company through an initial public offering (IPO) on the Colombo Stock Exchange (CSE) to partly fund its production expansion plans.

Proposed five techno parks to be listed on CSE under new entity

The Cabinet nod has been granted to form a new entity named ‘Technology Park Development Company’ and to bring the proposed five technology parks under this entity, with plans for a possible listing on the Colombo Stock Exchange (CSE) in the future.

Advocata’s BCI tracks 30% increase in August food prices

Advocata’s Bath Curry Indicator (BCI) which tracks the monthly changes in the price of a basket of commonly consumed food items recorded a 30 percent increase between August 2020 and August 2021.

Govt. says no final decision on appointing Cabraal as CB Governor

The government yesterday said no final decision had been reached on appointing the current State Minister of Money & Capital Market and State Enterprise Reforms Ajith Nivard Cabraal to the position of the Central Bank (CB) Governor .

NDB’s proposed listed debt up to Rs.8bn rated ‘A-(lka)(EXP)

Fitch Ratings has assigned ‘A-(lka)(EXP) rating for National Development Bank’s proposed debenture issue to raise up to Rs.8 billion.

Govt. to give over 2, 700 acres of State land to private investors to develop commercial dairy farms

As Sri Lanka pursues the goal of reaching self-sufficiency in milk by 2024, the government has awarded 2, 771 acres of State land to private investors, while granting approval to import 4, 200 milch cows to boost annual liquid milk production by 22 million liters with an estimated investment of Rs.8.2 billion.

Insurance industry gets further tailwind from mortgage protection policies

As people took more loans to make the most out of the ultra low interest rates in town, it obviously helped the bottom lines of banks as seen from their solid earnings reports. It also lifted another industry, which is insurance.

Sumal ventures into livestock sector through privately held entity

Leading businessman Sumal Perera is venturing into livestock sector under a privately-held entity as it secured a 700-acre land parcel belonging to the National Livestock Development Board (NLDB) on a 30-year lease to commence a large-scale dairy farm.