ICTA and Lanka Clear to integrate platform to facilitate online payments for e-government

The Information and Communication Technology Agency of Sri Lanka (ICTA) and Lanka Clear Pvt. Ltd. (LCPL) signed a landmark agreement to implement a single channel for online payments for government e-Services, integrating the digital platforms of two institutions, which was a key component of National Payment Platform (NPP). As the NPP ran into contr

Resolving trade tensions ‘immediate priority’ for G20

WASHINGTON (AFP) - The global economy is at a “delicate juncture” which will require central banks to maintain stimulus and governments to resolve trade disputes quickly, the International Monetary Fund warned Wednesday. “The immediate priority is to resolve the current trade tensions,” IMF chief Christine Lagarde urged in a blog post aimed at the Group of 20 finance ministers and central bankers as they prepare for a meeting in Japan this weeken

Global ICC pledges commitment to uplift local biz following 21/4 impact

World largest business association, the International Chamber of Commerce (ICC) has pledged its fullest support to help revive Sri Lanka’s business community which were impacted overnight following the 21/4 inci

Stocks close little changed in thin trade; rupee edges up

REUTERS - Sri Lankan shares ended almost flat in dull trade yesterday, but posted their lowest close in nearly three weeks, while the rupee ended slightly firmer, market sources said. On Friday, the Central Bank cut its k

Sri Lanka and Denmark to avoid double taxation

With the expectation of improving economic relations between the two countries, Sri Lanka and Denmark have entered into an agreement at official level for the avoidance of double taxation and prevention of fiscal evasion pertaining to economic activities.

Cabinet nod to procure new foreign reserves mgt. IT system for CB

The Central Bank (CB) will procure new IT system for foreign reverse management as the licence of existing Treasury Management System used for the management of foreign reserves is due to expire in 2021.

A Muslim devotee prays inside the Minuwangoda Jumma Mosque

A Muslim devotee prays inside the Minuwangoda Jumma Mosque, which came under attack during the anti-Muslim riots recently. The Muslims ended the 31-day fast and then went into celebrating Ramadan yesterday

Port tariff hike deferred until December

The Sri Lanka Port Authority (SLPA) has deferred the proposed hike in port tariffs until December, to support the economy in the aftermath of Easter Sunday attacks, SLPA Chairman Kavan Ratnayaka told Mirror Business.

Nepali billionaire Chaudhary says Sri Lanka will benefit from Modi govt.

Nepali billionaire and CG Corp Global Chairman Dr. Binod Chaudhary, whose business interests in Sri Lanka span a segment of pioneering leisure offerings, believes strongly that India’s Prime Minister Narendra Modi, in his second term, will be able to usher in new developments not just for India but for the entire region.

Cargills Bank 1Q in red amid higher NPLs

A large construction sector loan, which fell into the non-performing category, has plunged Cargills Bank into red during the quarter ended March 31, 2019 (1Q19), as the small lender is scrambling to recover from the weakest asset quality in the industry.

Telenor, Axiata enter talks to merge Asian businesses

(Oslo) AFP: Norwegian telecom operator Telenor this week said it has entered into talks with Malaysian telecoms group Axiata about a potential merger of the companies’ Asian operations. The deal would see the two companies combine their telecom and infrastructure assets into a new company, of which Telenor would own 56.5 percent and Axiata the remaining 43.5 percent, Telenor said in a statement, adding that these figures were subject to change.

Sri Lanka reduces electrocutions by 50% in 2018

Sri Lanka reduced electrocutions by 50 percent to 89 electrocutions in 2018, compared with the 180 electrocutions reported in 2012, Electrocution Report 2018 by the Public Utilities Commission of Sri Lanka (PUCSL), the regulator for the electricity industry, says.

IMF expects global financial turnout at U.S.-led Palestinian conference

(Jerusalem) REUTERS: Global financial institutions will attend a U.S.-led conference on the Palestinian economy this month that the Trump administration has cast as an overture to its Middle East peace plan, the International Monetary Fund (IMF) said yesterday.

Aitken Spence Turyaa Chennai awarded as ‘Best City Hotel’ at India Travel Awards

Turyaa Chennai, part of the renowned Aitken Spence Hotels, was recognised at the recently held India Travel Awards 2019-South as the ‘Best City Hotel’, further strengthening its position as an industry leader extending the best in service, product and offerings.

Union Bank strengthens leadership team

Union Bank announced the appointment of two new members to its leadership team recently.

Samantha Gunarathne appointed as Elyon Hotels COO

Sri Lanka’s niche hotel operator, Elyon Hotels appointed industry veteran Samantha Gunarathne as its new Chief Operating Officer, recently.

Orient Finance – Building on strength and consistent customer trust

In a world governed by uncertainties such as economic upheavals and unpredicted downturns, building customer confidence and meeting customer expectations remain key to success in financial markets.

Fitch upgrades Sri Lanka Insurance’s IFS to ‘B+’; Outlook Stable

Fitch Ratings has upgraded Sri Lanka Insurance Corporation Limited’s (SLIC) Insurer Financial Strength (IFS) Rating to ‘B+’ from ‘B’. The Outlook is Stable. The Under Criteria Observation status on the IFS Rating has also been removed. Fitch has simultaneously upgraded SLIC’s National IFS Rating to ‘AAA(lka)’ from ‘AA+(lka)’ with a Stable Outlook.

Lanka Hospitals Diagnostics hosts Sales Star Awards

It was a remarkable evening of sheer brilliance as 44 of the best performing centre staff and sales development associates clinched their awards in titles of Gold, Silver and Bronze at the ‘Sales Star Awards’ hosted by Lanka Hospitals Diagnostics (LHD), recently.

CHSL’s Jayantha Gunaratne receives training in Switzerland

Ceylinco Healthcare Services Limited (CHSL) recently sent Jayantha Gunaratne, a medical physicist at its Radiation Treatment Centre, for a training programme in Switzerland, arranged by Varian Medical Systems International AG, a global leader in Radiation Oncology.

drone delivery could transform healthcare: Expert

While Sri Lanka healthcare is renowned to be one of the best in the region, the recent Easter Sunday attacks highlighted a major gap in need of urgent attention - emergency delivery of lifesaving medicine to people in dire need of help.

Tourist arrivals plunge 70% in May after Easter attacks

Sri Lanka’s tourist arrivals in May fell 70 percent year-on-year (YoY) to 37,000 in the aftermath of Easter Sunday attacks which killed 250 people, including 45 foreigners. “We have been talkin

Brandix Batticaloa factory becomes world’s first to achieve ‘Net Zero Carbon’ status

The Batticaloa factory of leading Sri Lankan apparel solutions provider, Brandix, is the world’s first manufacturing facility to achieve ‘Net Zero Carbon’ status. This signifies that the Brandix factory in Batticaloa has completely neutralised its environmental impact through carbon dioxide emissions by being highly energy efficient and using on-site renewable energy resources.

Sri Lanka to host inaugural int’l logistics confab this August

Sri Lanka will host its first ever international logistics conference on August 1 and 2, 2019, in a bid to support the country’s aspiration to become a logistic hub in the region. Addressing a press briefing in Colombo yesterday, Shippers’ Academy CEO Rohan Masakorala stressed that the promotion of the country’s hub potential is key for Sri Lanka to attract foreign investors and shipping lines to develop the cou

Softlogic 4Q stymied by higher finance costs

Softlogic Holdings PLC’s revenues rose and operating profits soared although the gains were erased by hefty interest expenses as the group has begun a de-leveraging exercise to rid the conglomerate of the clutches of heavy debt, which has been weighing on them for far too long.

Sanjiva Weerawarna appointed to Sampath Bank board

Sampath Bank has announced the appointment of WSO2 fame Dr. Sanjiva Weerawarna to its director board as a Non-Executive Independent Director with effect from June 1, 2019. Dr. Weerawarna was the founder/CEO/Chairman of WSO2.

Stocks extend falls to over 2-week low; rupee edges lower

(Colombo) REUTERS: Sri Lankan shares fell for a third straight session on Tuesday and closed at their lowest in more than two weeks in dull trade, while the rupee ended slightly lower, market sources said. On Friday, the Central Bank cut its key interest rates to support its faltering economy as overall business and consumer confidence slumped following deadly bomb attacks in April. Traders said the Easter Sunday bombings and violence following t

Australia minister in Sri Lanka stresses “tough” asylum policy

(Colombo) REUTERS: A senior minister re-stated Australia’s tough border policy on a visit to Sri Lanka on Tuesday, amid reports that the Australian navy had intercepted and returned several boats carrying asylum seekers from the Indian Ocean island. Home Affairs Minister Peter Dutton declined to comment on the reports, but reiterated his government’s policy of returning boats carrying asylum seekers to their origin point.

Ceylon Chamber fears potential disturbance to peace

The Ceylon Chamber of Commerce yesterday urged the law enforcement authorities to maintain law and order in the country, fearing that the current events unfolding could disturb the peace among the communities.

UN launches open platform to support Sri Lanka’s policymaking

The United Nations in Sri Lanka together with the National Policies and Economic Affairs Ministry launched UNLOCKED, an innovative and inclusive platform to support policy development.