Half of Iran’s banks should close or merge, top banker says

REUTERS: The number of banks in Iran should at least halve over the next six years, with closures and mergers needed to modernise an industry laden with toxic loans, one of the country’s top bankers said.

DFCC Bank launches special workshop series for MSMEs

DFCC Bank has initiated a special series of workshops named ‘Vardhana Sahaya Hamuwa’ to nurture the growth of the Micro, Small and Medium Enterprises (MSMEs) in Sri Lanka. 

People’s Bank reaffirms commitment in driving SME sector

As per its vision to propel the expansion and expertise of Small and Medium Businesses, People’s Bank held its ‘Entrepreneurial Glory’ programme at the Pavilian Restaurant Monaragala.

HNB to offer doubled rewards throughout October

Sri Lanka’s most customer-centric bank, HNB PLC, announced the return of its extremely popular Singithi Savings Month that will give children across the island a chance to save and receive valuable gifts from 21st September to 31st October.

Rajive Dissanayake appointed to HNBA, HNBGI boards

HNB Assurance PLC (HNBA) announced the appointment of Rajive Dissanayake as a Non-Executive, Non-Independent Director to the boards of HNBA and its fully-owned subsidiary HNB General Insurance Limited (HNBGI) by the vote of Hatton National Bank PLC (HNB), the parent shareholder of HNBA. 

HNB serves Anuradhapura entrepreneurs under Citi-CCC programme

Citi Bank in collaboration with the Ceylon Chamber of Commerce and Hatton National Bank initiated the ‘Rural Economic Empowerment Programme’ in June 2015 with the objective of empowering rural entrepreneurs through improving their financial literacy and business management skills as well as facilitating micro financing through mainstream banks.

Will govt.’s FDI plans flounder on corruption and bureaucratic apathy?

Sri Lanka today carries a huge foreign debt burden. Sri Lanka’s external debt has averaged US $ 42632.32 million from 2012 until 2017, reaching an all-time high of US $ 47302.10 million in the third quarter of 2016. During the first quarter of 2017, according to Trading Economics, the external debt decreased to US $ 46514 million from US $ 46585.7 million in the last quarter of 2016.

Gendered face of NCDs: Can Sri Lanka beat the odds?

The death toll from non-communicable diseases or NCDs (diseases of long duration and generally slow progression) is on the rise and accounts for more than a half of total deaths globally. According to the World Health Organisation (WHO), NCDs kill 38 million every year around the world and around 75 percent of these deaths are reported from low and middle-income countries, such as Sri Lanka. 

Auxenta looks to expand global footprint; forays into APAC region

Having its roots in Sri Lanka, the fast-growing boutique technology solutions firm Auxenta is currently poised for dramatic expansion to the APAC region having bagged new clients in APAC countries Singapore and Australia. 

CodeGen unveils success of Sri Lanka’s first Smart Classroom

Prime Minister Ranil Wickremasinghe together with Education Minister Akila Viraj Kariyawasam, Deputy Minister Dr. Harsha de Silva, Western Province Education Minister Ranjit Somawansa, visited the XOLO Cloud Smart Classroom powered by CodeGen, at the Sri Jayawardenepura Maha Vidyalaya Kotte, recently. 

Go Phygital with SAP Business One unveiled

Pristine Solution (Pvt) Ltd unveiled ‘Go Phygital with SAP Business One’ in Kingsbury Hotel Colombo recently with the aim to demonstrate how corporate organizations can benefit from going beyond the traditional ERP with the SAP Business One software.

ICTA sets record straight on National Payment Platform

In todays’ digital world, the public perform a variety of tasks using their smart phones, tablets, and computers. 

Mitra Innovation to host first ever hackathon tomorrow

Mitra Innovation, based in Sri Lanka and the UK, will be hosting its first ever hackathon event, which will take place this weekend (7th) in Moratuwa. 

Sri Lanka to hold its own PropertyGuru Asia Property Awards

Sri Lanka will once again be showcased on an international platform with PropertyGuru, Asia’s foremost online property company, announcing the local development space having a standalone event to project its capabilities.

Fair Lands brings Templers Court from Homagama

Fair Lands, heading with the prime objective to entrust ownership to a land, incorporating value that exceeds the expense you bear, has been able to win the people’s trust in the country’s lands trading. Fair Lands espouses another fascinating set of plots titled  Templers Court. 

Gnanam Academy holds certificate awarding ceremony

The eighth Certificate Awarding Ceremony of the A.Y.S. Gnanam Construction Training Academy was held recently in Dambulla.  

Over 80% industry leaders doubt accuracy of tourism statistics

Over 80 percent of local tourism industry leaders do not trust the tourism research statistics, and the country’s tourism earnings figures published by the Sri Lanka Tourism Development Authority (SLTDA), which is following erroneous methodology for its research, according to a Ceylon Chamber of Commerce (CCC) report.

Sampath Bank’s off-shore banking unit funds hotel project in Myanmar

Sampath Bank PLC this week announced that it had successfully concluded a loan transaction with Yango-based hotel developer Family Business Group Hotel Limited (FBGHL), Myanmar.

Drought-hit and hungry Sri Lankans struggle for harvest or work

Thomson Reuters Foundation:  At 52 years old, with two grown children, Newton Gunathileka thought he should be working less by this point. Instead he has never worked so hard – and earned so little. Gunathileka, from the Sri Lankan village of Periyakulam, in the North Western Puttalam District, is among hundreds of thousands of rural Sri Lankans who have borne the brunt of the worst drought in four decades.

Finance companies lobby for skimpy down payments on motor cars, three-wheelers

Sri Lanka’s finance companies are continuing to lobby the regulators to bring down the down payments on motor cars and three-wheelers in a bid to propel their leasing portfolios, which have experienced a hit in the recent times.    

Indian central bank pushes new rules so lenders pass on rate cuts more quickly

REUTERS: A panel created by the Reserve Bank of India (RBI) said lenders are not sticking to rules that determine how much they can charge for loans, and proposed new requirements that could force banks to pass on interest rate moves to customers more quickly.

Bosnia and Herzegovina keen to expand trade ties with SL

Foreign Affairs Minister of Bosnia and Herzegovina Igor Crnadak said they are very keen to open a new chapter in foreign affairs by establishing trade and investment promotion between Bosnia and Asian countries like Sri Lanka.  He expressed these views upon meeting Sri Lankan Foreign Affairs Minister Tilak Marapana who was on an official visit to the Republic of Bosnia & Herzegovina from September28 to 30.

The Big Bad Wolf in town!

The Big Bad Wolf book sale, which is considered the world’s biggest, was opened to Sri Lankan public yesterday at the Sri Lank Exhibition and Convention Centre (SLECC).

Sampath Bank Off-Shore Banking Unit Funds Mega Hotel Development Project in Myanmar

Sampath Bank PLC,apioneer in introducing revolutionary financial solutions with a strong footing in the Sri Lankan market, announced that it had successfully concluded a loan transaction with Yangon 

Leo Burnett the only Sri Lankan Agency to be ranked in Campaign Brief Asia’s Top 50 Agencies

Leo Burnett Sri Lanka has been ranked as one of Asia’s Top 50 Agencies by Campaign Brief Asia, Asia’s most influential creative advertising trade magazine. Leo Burnett Sri Lanka is the only agency 

Best time to promote Lankan products in UK market: envoy

High Commissioner of Sri Lanka to the United Kingdom Amari Wijewardene says this is the best time to promote Lankan products in the UK market, as Sri Lanka has been rewarded with the GSP Plus facility.

Aban Pestonjee awarded ‘Entrepreneur of the Year’

On a night that saw the gathering of the most esteemed figures in Sri Lankan society under one roof, Aban Pestonjee, the Chairperson and Founder of the Abans Group of Companies was named Sri Lanka’s Entrepreneur of the Year 2017 at the Derana Sri Lankan of the Year Awards hosted on September 27th at the Colombo Hilton. 

Seminar on creating biz-friendly environment

State Minister of International Trade Sujeewa Senasinghe  briefed a distinguished international and local audience on positive steps taken by the government of Sri Lanka to reform the country, notably in 

MTI’s ‘idea2fund’ all set for Wave 3 launch

‘idea2fund’ – the year round venture competition powered by MTI Corporate Finance is on the verge of launching its 3rd wave this October. 

Big Bad Wolf book sale Sri Lanka says ‘Ayubowan’

The Big Bad Wolf book sale was inaugurated by Chief Guest Akila Viraj Kariyawasam Minister of Education of Sri Lanka and Big Bad Wolf Books Founder and Managing Director Andrew Yap and Executive Director Jacqueline Ng and Director of ProRead Lanka (Pvt) Ltd. Nishan Wasalathanthri.  The world’s biggest book sale will be held at the Sri Lanka Exhibition and Convention Centre (SLECC) from the 5th to 15th October introducing a new dimensio