DIMO and Innovation ThreeSixty launch Azend Technologies

DIMO together with Innovation ThreeSixty recently announced the launch of Azend Technologies, a digital transformation, product and solutions development company.

Oppo partners Chanux Bro for flash sale

Innovative smartphone and accessories brand Oppo recently announced an exciting promotion – Oppo Band Flash Sale – in which purchases made via the online channel from July 5 to 14, will be offered an attractive discount.

N-able announces key leadership appointments

N-able (Private) Limited, Sri Lanka’s premier information and communications technology services provider, announced key appointments within its leadership team, as it gears up for the next phase of growth in a post-pandemic world.

Huawei Sri Lanka recognised among Sri Lanka’s 40 Best Workplaces for 2021

Huawei Technologies Lanka, leading provider in ICT solutions, has been recognised among Sri Lanka’s 40 Best Workplaces for 2021 and has been certified as a great workplace by the independent analysts at Great Place to Work.

99x strengthens leadership with appointment of Shalini Ratwatte

Technology company 99x announced the appointment of legal professional Shalini Ratwatte as its Chief Legal and Governance Officer.

Arimac achieves a Microsoft Gold Competency

Arimac, a leading digital solution provider, headquartered in Sri Lanka with regional offices in Australia, the Maldives, Trinidad and Tobago and the United Arab Emirates, announced it has achieved a Gold Competency,

Dialog Axiata establishes 5G Innovation Centres at leading universities

In collaboration with the University Grants Commission (UGC), Dialog Axiata PLC recently established 5G Innovation Centres at the Engineering Faculties of leading universities to create and incubate interest-driven learning, innovation and entrepreneurship for future leaders.

SLT-Mobitel’s BizChat introduces FB Chatbot to support SMEs

SLT-Mobitel, the national ICT, telecommunications and mobile services provider, has enhanced its SLT-Mobitel BizChat operation by introducing an exciting Facebook Chatbot, supporting small and medium enterprises (SMEs) to ramp up their business operations on the social media platform, capitalising on the benefits of modern technology.

Sri Lanka records 4.3% economic growth for 1Q

Sri Lanka’s economy grew 4.3. percent during the first quarter of 2021, compared to a contraction of 1.8 percent in the first quarter of 2020, the data released by the Department of Census and Statistics (DCS) showed.

R I L Property forays into renewable energy with Panasian Power acquisition

R I L Property PLC yesterday acquired 62 percent of renewable energy player Panasian Power PLC, for Rs.1.65 billion.

US provides US $ 150mn to DFCC Bank towards facilitating inclusive growth in SL

The United States is contributing to Sri Lanka’s economic resilience through the provision of a financial facility of US $ 150 million.

2% additional interest rate for SDAs

Additional interest up to 2 percent per annum will be extended for two years for Special Deposit Accounts (SDAs), the Central Bank said yesterday.

Local firms allowed investing in ISBs in secondary market

The Central Bank this week said local companies, barring companies engaged in the finance business, are permitted to purchase the International Sovereign Bonds (ISBs) issued by the Sri Lankan government in the secondary market.

Canada-based Ceylon Graphite and LOLC Group enter MoU to develop new graphite mines

Canada-based Ceylon Graphite Corp., which is involved in the exploration and production of graphite in historic resource jurisdictions in Sri Lanka, this week announced the execution of a memorandum of understanding (MoU) dated June 30, 2021, with two subsidiaries of Lanka ORIX Leasing Company Group (LOLC).

SL gets US $ 150mn ADB loan for COVID-19 vaccine drive

The Asian Development Bank (ADB) and Government of Sri Lanka yesterday signed loan agreements for US $ 150 million under the Asia Pacific Vaccine Access Facility (APVAX) for the procurement of vaccines and other related consumables.

MAS Intimates opens Intermediate Care Centre to assist COVID-19 patients in North-Western Province

MAS Intimates, the largest division of Sri Lanka’s leading apparel manufacturer MAS Holdings (Pvt) Ltd, established an Intermediate Care Centre consisting of 450 beds which was opened on July 1st.

Gamma and Interpharm donate high-end ventilator to LRH

Kalana Hewamallika, Chairman, Interpharm (Pvt) Ltd and Gamma Pharmaceuticals (Pvt) Ltd handed over a neonatal/pediatric ventilator, a prime requirement at the Lady Ridgeway Hospital (LRH) to Dr. Duminda Samarasinghe, Pediatric Cardiologist in response to his request, at a recent ceremony.

HNBA & HNBGI together donate medical equipment

As part of its social stewardship initiative HNB Assurance PLC (HNBA) and HNB General Insurance Limited (HNBGI) recently made donations of urgently needed medical equipment and supplies to help in the fight against COVID-19.

Ceylinco Life donates dry rations to Colombo daily wage earners

Staff of Ceylinco Life engaged in a humanitarian operation in June to provide dry rations to daily wage earners who were unable to find adequate food for their families due to the travel restrictions imposed to curtail the spread of COVID-19 in the Colombo District.

People’s Bank helps family of deceased Army officer to commemorate anniversary

People’s Bank in commemoration of its 60th anniversary, People’s Bank joined hands with the Gamunu watch of Rathnapura, Kuruwita Regimental Centre of the Sri Lanka Army to assist the grief stricken family of a retired and deceased Officer of the Sri Lanka Army by offering financial assistance to completethe construction of their house in Udawela, Opanayake, Pelmadulla.

NatioNations Trust Bank launches ‘DoNoPlastic’ towards an eco-friendly nation

Expanding its commitment towards the conservation of the environment, Nations Trust Bank has launched its own ‘DoNoPlastic’ campaign to become an active part of the solution to the nation’s growing plastic pollution issue.

CB leaves policy interest rates unchanged to support recovery

As broadly expected the Monetary Board left the current accommodative monetary policy stance unchanged yesterday to further support the economy beset by the pandemic-induced restrictions.

June official reserves maintained at US$ 4.0bn

Sri Lanka’s foreign exchange reserves were maintained at US$ 4.0 billion by June-end, virtually unchanged from a month ago, but the buffer could dip if the full line up of inflows does not materialise to make up for the billion-dollar outflow scheduled on July 27 to settle a sovereign bond.

JAT Holdings concludes virtual investor forum for upcoming IPO

JAT Holdings hosted an informative virtual investor forum yesterday for their upcoming Initial Public Offering, following the official launch event held on the same day.

Alliance Finance secures US$ 10mn FMO funding line

Alliance Finance Co PLC (AFC) has renewed its partnership with FMO, the Dutch Entrepreneurial Development Bank, by receiving a fresh funding line of US$ 10 million in June 2021 to financially empower and facilitate the development of the micro, small and medium enterprise (MSME) sector in Sri Lanka.

Basil Rajapaksa assumes duties as Finance Minister

Following the appointment of Bail Rajapaksa as a national list MP, he assumed duties of Minister of Finance yesterday morning, taking over key responsibilities related to macro-economic policies, annual budget, fiscal management, local and foreign savings and investments, public debt management, capital market, financial sector and international financial cooperation from his brother and Prime Minister, Mahinda Rajapaksa.

THASL hails govt.’s move to relax rules for incoming travellers

The government’s decision to relax rules for incoming passengers from non-travel restricted countries was well received by the tourism sector, which remains optimistic of further easing of regulations in the coming months once 60 percent of the population is fully vaccinated.

Tea industry forecasts output drop in 4Q despite State assurance of sufficient fertilizer stocks

Despite the government’s assurance that the country is in possession of sufficient fertilizer stocks for tea plantations for the remainder of the year, the tea industry forecasts 10-15 percent hit on tea output in the fourth quarter of this year if a shortage of agrochemicals occur.

Sri Lankan economy in serious decline

With the recent publication of the Central Bank annual report 2020, we are now in a position to ascertain how the Sri Lanka economy performed during the previous decade (2010-2019) as well as the first year of the current decade (2020).

Softlogic Life Insurance appoints Sanjaya Mohottala and Lalith Withana to board

Softlogic Life Insurance PLC announced the appointment of Sanjaya W. Mohottala and Lalith Withana to the company’s board as Independent Non-Executive Directors, with effect from July 1, 2021, succeeding the two outgoing directors Ray Abeywardena and Sujeewa Rajapakse, who stepped down from the board on June 30, 2021, after serving the statutory period of nine years.