SL to get first LNG terminal with New Fortress Energy deal

Sri Lanka has entered into a framework agreement with New Fortress Energy (NFE), a US-based entity to build the country’s first Liquefied Natural Gas (LNG) terminal.

NDB signs MoU with Crystal Property Group

NDB Bank recently partnered with Crystal Property Group (CPG) in a bid to create a platform for customers of both institutions to enjoy a plethora of benefits such as exclusive discounts and flexible repayment options.

Dubai Global Home offers a world of new opportunities for Sri Lankans in UAE

Dubai Global Home (DGH), a global business initiative providing opportunities to set up businesses, travel, holidays, shopping, investments, education, healthcare, jobs, living and migration in Dubai, UAE, is now available for prospective global citizens in Sri Lanka.

Pan Asia Bank partners CBH Lands to assist potential land buyers

Pan Asia Bank, which has played a pivotal role in promoting the development of the local economy as part of its commitment to nation-building by partnering SMEs, reflects its promise to be a truly Sri Lankan bank for all.

SLASSCOM signs MoU with CHEC Port City Colombo

As the national chamber and pioneering enabler of IT/BPM exports, Sri Lanka Association of Software and Services Companies (SLASSCOM) recently signed a memorandum of understanding (MoU) with CHEC Port City Colombo (CPCC), marking a historic milestone for both parties.

Dialog offers Data Scholarships to 100,000 schoolchildren

In its continued efforts to ensure that no child is left behind in continuing their education, Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, together with TV Derana endeavoured to provide 100,000 schoolchildren in need with Data Scholarships under the ‘NanaDiri Data Scholarship’ programme to facilitate their online learning from home.

NAITA-Huawei ICT Academy in Vocational Training launched

In fulfilling the government of Sri Lanka’s vision and priority to produce smart technocrats who are globally recognised and who possess international acclaimed qualifications required by the local and international employment markets, Huawei Sri Lanka recently inked a memorandum of understanding (MoU) with the National Apprentice and Industrial Training Authority (NAITA).

TECNO Mobile to unveil CAMON 17 series; announces new brand ambassador

TECNO, a fast-growing smartphone brand, is slated to unveil its latest model CAMON 17, which is an Android-based smartphone with a host of state-of-the-art features.

SLT-Mobitel supports TRCSL’s drive to bridge digital divide

Extending its support towards bridging the digital divide, SLT-Mobitel, the national ICT, telecommunications and mobile services provider, facilitated the Telecommunications Regulatory Commission of Sri Lanka’s (TRCSL) ‘Gamata Sanniwedanaya’ project by commissioning the first 4G tower in Panana, Weligepola, on July 5, 2021.

CSSL joins ICTA’s Northern Roadshow with GenZ Chapter launch at Jaffna University

The Computer Society of Sri Lanka (CSSL) is launched its second GenZ Chapter at the University of Jaffna to mark the Northern Roadshow organised by the Digital Economy Team of the Information and Communication Technology Agency (ICTA).

Govt. ready for organic challenge!

Picture shows organic fertilizer stocks at Commercial Fertilizers Company stores in Hunupitiya, Wattala ready for distribution.

Most Lankan apparel workers, their families fell deep into poverty last year: AFWA

A vast majority of Sri Lanka’s apparel workers and their families fell deep into poverty last year driven by unprecedented job losses, lay-offs and various forms of pay-cuts triggered by COVID-19 pandemic, potentially increasing likelihood for inter-generational transmission of poverty, according to a latest survey.

Government defends decision to ignore global minimum tax rate for MNCs

The government defended its decision not to sign the proposed establishment of 15 percent global minimum tax rate on multinational corporations (MNCs) citing possible impacts on Foreign Direct Investments (FDIs) into the country.

Alpen Capital finds Sri Lanka’s banking and NBFI sector resilient despite challenges

Leading UAE based investment banking advisory firm, Alpen Capital, in its Banking and Non-Banking Financial Institutions (NBFI) Sector, Sri Lanka report 2021 notes both sectors remain competitive despite challenges exacerbated by the pandemic, with new and emerging opportunities to capitalise on. The July 15 report finds that Sri Lanka’s banking and NBFI sector has shown resilience in dealing with the crisis.

StanChart issues disappointing outlook for 2021 direct investments

Foreign Direct Investments (FDIs) which were earlier primed to take off to about US$ 1.5 billion to US$ 2.0 billion in 2021 could come in well below that level as the current economic conditions have dampened investor sentiments while the much hyped Colombo Port City is yet to make any tangible impact to the nascent investment flows into the country.

Finance company sector reverses bad spell but not totally out of woods

The non-bank finance institutions in the country improved their asset quality and earnings in lockstep with their banking counterparts riding on a solid growth in the economy in the first quarter, but the sector is not completely out of risks as it still carries non-performing loans over 10 percent of its total loans.

Manufacturing and services activities recover marginally in June

Sri Lanka’s manufacturing and services activities recovered marginally during the month of June from the adverse impacts of the third wave of the COVID-19 pandemic.

SriLankan to roll out ‘buy-one-get-one-free’ offer

National carrier SriLankan Airlines is gearing up to launch a fresh promotion this summer where together with the tourism industry it will soon unveil a ‘buy-one-get-one-free’ offer.

Kanrich Finance appoints former UN director as its new chairman

As part of a comprehensive restructuring, Dr. Ravi Ratnayake, a former Chief Economist and Director of Trade and Investment of United Nations for Asia-Pacific Region (ESCAP), has been appointed as the Chairman / Director of Kanrich Finance Ltd.

ComBank declared ‘Best Bank in Sri Lanka’ by Euromoney again

The Commercial Bank of Ceylon has been conferred the coveted title of ‘Best Bank in Sri Lanka’ for the seventh time by Euromoney, one of the world’s leading financial markets magazines, at its Asia Awards for Excellence 2021.

BOC introduces new and improved Multi Currency Travel Card

‘BOC Multi-Currency Travel Card- MCTC’ is now upgraded with benefits that add more security and convenience with Near Field Communication (NFC) and 3-D secure authentication service for e-commerce transactions.

Sri Lanka Insurance recognised as a ‘Great Place to Work’ in Sri Lanka

Sri Lanka Insurance has been recognised as a ‘Great Place to Work’ in Sri Lanka reiterating the insurer’s commitment towards building an empowering working culture.

AIA’s Smart Wealth improves to offer unmatched investment opportunities for customers

with a view to addressing current market conditions, AIA Insurance recently redesigned and launched its flagship savings product, AIA Smart Wealth, enhancing its value and proposition to Sri Lankans.

Seylan partners with Ceylon Chamber to revive country’s SMEs

Seylan Bank has observed that COVID-19 has landed a heavy blow on Sri Lankan small and medium enterprises (SMEs), with wide spread adverse effects across multiple sectors and regions.

Currency in circulation rises most in first half amid record stimulus

The currency in circulation rose the most during the first half of the year, as the Central Bank provided unprecedented stimulus by way of liquidity injections, which gained pace since the onset of the pandemic last year.

Trade deficit expands for third consecutive month in May

Sri Lanka’s trade deficit expanded for the third consecutive month on a year-on-year (YoY) basis in May to US $ 716 million, from US $ 407 million a year ago, amid the rising global oil prices and recovery in imports.

CB now expects Rs.800bn to be unleashed as private credit this year

In what appears to be a sign of renewed optimism for the economy to jump start from the perceived setback in the second quarter, the Central Bank indicated it expects the banking sector to unleash anywhere north of Rs.800 billion in fresh private sector credit through this year.

Fitch rates Siyapatha’s proposed subordinated debt up to Rs.1.5bn ‘BBB+(lka)(EXP)’

Fitch Ratings has assigned Siyapatha Finance PLC’s (A(lka)/Stable) proposed Sri Lankan rupee subordinated listed debentures an expected National Long-Term Rating of ‘BBB+(lka)(EXP)’.

Ravi Wijeratne announces mandatory offer on SMB Leasing

Rank Holdings fame Ravi Wijeratne yesterday announced a mandatory offer to acquire the remaining shares of SMB Leasing, after increasing his stake in the company over the 30 percent threshold, following a right issue.

President reappoints Sanjeeva Jayawardena to Monetary Board

Sanjeeva Jayawardena, President’s Counsel, has been reappointed to the Monetary Board of the Central Bank of Sri Lanka (CBSL), for a fresh term of six years, up to June 2027, by President Gotabaya Rajapaksa, consequent to his nomination being approved by the Parliamentary Council.