Manufacturing and services activities expand in July; rapid spread of COVID-19 likely to kill momentum

The manufacturing and services activities further expanded during the month of July, though the expectations for the next three months deteriorated significantly amid the rapid spread of COVID-19 throughout the country.

President reinstates same director board of 1990 Suwaseriya

In appreciation of the professional and yeoman service the Board of Directors of 1990 Suwaseriya Ambulance Service has carried out for the past three years, President Gotabaya Rajapaksa has reappointed the same Board of Directors for another three years.

Bank of Ceylon’s new GM assumes duties

K.E. D Sumanasiri assumed duties as the General Manager of Bank of Ceylon yesterday. Sumanasiri assumed duties as the 22nd General Manager of the bank at its Head Office with the presence of Chairman Kanchana Ratwatte and few other key officials.

BMICH refutes claims of harming stray dogs entering premises

The management of Bandaranaike Memorial International Conference Hall (BMICH) set the record straight on a message that is circulating on social media that claims the entity has been eradicating stray dogs roaming in its premises.

ICCSL – Mirror Business webinar on Education & HR tomorrow

ICCSL in partnership with DailyFT, Daily Mirror Business, CA Sri Lanka, GPW Sri Lanka, HRCornucopia, Job Enrich, PIBT, hSenid, LearnTV and CareerMe will host a webinar to discuss ‘The Role of Education, Skills and HR for Sri Lanka’s Success’ tomorrow (August 18) from 4.00 p.m. onwards.

Building disability-inclusive COVID-19 recovery plan for SL

Persons with disabilities (PWDs) are an important group that needs to be considered when building an all-inclusive COVID-19 recovery plan.

Determined enforcement and reliable information - SL’s need of the hour in IPR protection call

Pursuant to the World Anti-Counterfeiting Day, which fell on June 8th, we are reminded of the severe impact and threat of counterfeit and pirated products on our lives and the economy.

Govts must listen to science to reduce smoking harm and embrace innovation

Despite overwhelming evidence supporting vaping as a reduced harm product in the place of tobacco smoking, some governments in the world continue to maintain bans on e-cigarettes and related products, depriving consumers the opportunity to switch to a safer product.

Extraordinary State support no longer factored in BOC, People’s Bank ratings: Fitch

Fitch Ratings last week said it no longer factors in extraordinary support into the ratings of Bank of Ceylon (BOC) and People’s Bank despite their strong State linkages, because the sovereign’s ability to provide extraordinary support is severely constrained.

July foreign reserves weaken after US$ 1bn bond settlement

Sri Lanka’s gross official reserves weakened as expected in July after the government settled a billion dollar bond with coupons among other obligations on July 27.

New avenues explored by govt. to raise inflows for debt repayment: Cabraal

Determined to have no default in debt repayment, the government shared it will turn to the underused assets under its ownership to generate the required finances to iron out what seems to be a never ending debt crisis.

Ceylon Tobacco revenues languish in 2Q amid volume decline

Ceylon Tobacco Company PLC (CTC) saw its top line easing further in the three months to June (2Q21) from the preceding three months ended in March as cigarette volumes declined by 16 percent from the March quarter due to mobility and other restrictions that took hold from the third week from April, owing to the resurgence of the virus.

HNB more than doubles earnings in second quarter

Hatton National Bank PLC (HNB) recorded robust performance for the quarter ended June 2021 (2Q21) amid strong core banking operations, while all the group companies contributed towards the consolidated performance.

DVP to go live on CSE from today

The Securities and Exchange Commission of Sri Lanka (SEC) and Colombo Stock Exchange (CSE) will introduce a Delivery vs. Payment (DVP) system for stock market transactions from today.

Sampath Bank records solid earnings for 2Q

Sampath Bank PLC saw its earnings for the quarter ended June 2021 (2Q21) surging, but the bank’s loan growth remained modest during the first half of the year.

Faizal Salieh elected Sri Lanka Institute of Directors Chairman

Faizal Salieh was unanimously elected as the Chairman of The Sri Lanka Institute of Directors (SLID) for the year 2021/22 at the fully virtual Annual Membership Meeting held on August 11th.

Dialog Axiata to fund eighteen critical care hospital facilities

As part of its ongoing commitment to empower the national healthcare efforts during the pandemic, Dialog Axiata PLC pledged to enhance urgently required critical care infrastructure in 18 hospitals selected by the Ministry of Health (MOH).

COSMI and LIRIDI introduce ‘Buy Now Pay Later’ to revive small-scale businesses

A novel business model called ‘Buy Now Pay Later’ was launched recently by LIRIDI Lanka (Pvt) Ltd in Sri Lanka to support micro and small businesses.

CA Sri Lanka, CFA Society encourage corporates to adopt ESG in biz practices  

Amidst challenges stemming from global warming to social unrest, two of the country’s top professional bodies, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and the CFA Society Sri Lanka have banded together to encourage corporates to be more environmentally and socially responsible by embracing the concept of ESG (Environment, Society and Governance) in business practices.

SLASSCOM launches Global Referral Programme in UAE

The Sri Lanka Association of Software and Services Companies (SLASSCOM) has been a trailblazer for the IT/BPM sector in Sri Lanka by continuously supporting the growth of the industry to reach global heights, with proactive strategies launched for local businesses to establish lucrative connections in the international market.

SLT-MOBITEL unveils new ‘Cochchi.lk’ online store

SLT-MOBITEL, the national ICT and telecommunications service providern recently launched its comprehensive new online store ‘Cochchi.lk’n offering value for sellers and buyers.

Ceydigital wins SLASSCOM Award for Best Innovative Product

Ceydigital won the Best Innovation Product Award in the Uva Province Medium Scale Category at the IT Awards, organised by the Sri Lanka Association for Software Services Companies (SLASSCOM).

Samsung and Dialog join hands to offer free data for new Galaxy purchases

Samsung, the No.1 smartphone brand in Sri Lanka, announced its partnership with Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, to present customers with an exclusive offer with the newly-launched Galaxy A and M series smartphones and Galaxy tabs.

NTB reports strong earnings for June quarter

Nations Trust Bank PLC (NTB) reported robust financial performance in the three months to June (2Q21), albeit the momentum slowed in new loans while the margins were weighed down by the overall descent in interest rates and the regulatory caps imposed on certain products such as credit cards, in which the bank has a sizeable portfolio.

Ceylinco Insurance ranked in 9th position amongst SL’s Most Respected Corporates

Ceylinco Insurance was placed in the ninth position amongst the nation’s Most Respected and Admired Corporates for the year 2021 and thus becomes the Most Respected Insurer in Sri Lanka for yet another year.

BOC appoints K.E.D. Sumanasiri as new General Manager

Veteran banker K.E.D. Sumanasiri has assumed duties as General Manager of Bank of Ceylon (BOC), Sri Lanka’s number one commercial bank.

Anil Tittawella to lead next phase of Janashakthi Life’s growth

Leading insurer Janashakthi Insurance PLC announced the appointment of Anil Tittawella as the company’s Chairman, with effect from August 11, 2021. Tittawella succeeds Prakash Schaffter, as he steps down from his role as Executive Chairman. Schaffter will continue to function as Executive Deputy Chairman of Janashakthi Insurance PLC.

NDB launches Musaeus College – Affinity Credit Card

NDB Bank recently launched an innovative Affinity Credit Card in partnership with the Musaeus College Past Pupils’ Association.

Seylan Tikiri introduces online account opening

Seylan Bank, the Bank with a Heart, has introduced online account opening for Seylan Tikiri, the number one minor savings brand in the market, in line with its responsible banking principles.

75th Independence day of India

As India celebrates her glorious 75th year of Independence, I extend my heartiest greetings to all fellow Indians in Sri Lanka and all the friendly people of Sri Lanka. Guided by the strong leaderships in our two countries, India and Sri Lanka bilateral relations have progressed steadily, overcoming the challenges of COVID-19 global pandemic.