Top Islamic Finance forum to be held in Sri Lanka

Islamic Finance Forum for South Asia (IFFSA) 2017 under the theme ‘Cooperation I Consolidation I Concentration’ organised by UTO EduConsult in conjunction with KPMG as Knowledge Partner and Adl Capital as Key Event Partner will be held on 24th 

Softlogic Life speeds up expansion, adds five branches in 3Q

Further strengthening its network spread across the island, Sri Lanka’s fastest growing life insurer Softlogic Life opened five branches in - Anuradhapura, Badulla, Kurunegala, Seeduwa and Weligama, during the September quarter.

Seylan Trade Services Department, new outlook and enhanced services

Seylan Bank’s International Trade Services Department was relocated to a new premises at the Seylan Bank Head Office to provide more convenience to its customers. The Imports and Exports

Central Bank Governor sees no pressure to lift rates

BLOOMBERG: Sri Lanka’s Central Bank doesn’t see any pressure to tighten policy even as inflation accelerates on the back of a severe drought and poor weather, Governor Indrajit Coomaraswamy said in an interview.

Fitch Rates NTB’s Basel III sub-debt issue ‘A-(lka) (EXP)’

Fitch Ratings has assigned Nations Trust Bank PLC’s (NTB, A(lka)/Stable) Sri Lanka rupee-denominated proposed Basel III-compliant subordinated unsecured debentures an expected National Long-Term Rating of ‘A-(lka)(EXP)’.

CEB gets ‘AAA’ rating from Fitch; outlook ‘Stable’

Fitch Ratings Lanka has published Sri Lanka-based Ceylon Electricity Board’s (CEB) National Long-Term Rating of ‘AAA(lka)’ with a ‘Stable’ outlook. The CEB is fully-owned by the Sri Lanka sovereign (B+/Stable).

Maharagama Nawinna Medicare Hospital unveils Ayurveda Medical Unit

Nawinna Medicare Hospital (Pvt.) Ltd in Maharagama which is equipped with state-of-the-art medical services of the international standard opened its unit for Ayurvedic medical services recently.

Tougher stock market rules from January, next year

The Securities and Exchange Commission (SEC) last week directed the Colombo Stock Exchange (CSE) to incorporate the amended rules for stringent policy enforcement into the existing Listing Rules, according to a disclosure made on the CSE yesterday.

Shares snap winning streak, end lower on profit-taking

REUTERS: Sri Lankan shares snapped a winning streak to end lower yesterday, slipping from their highest close in more than 10 weeks hit in the previous session, with investors booking profits in financials, brokers said

Sri Lanka’s BASEL III debt instruments get initial ratings from Fitch

Fitch Ratings yesterday rated three of the BASEL III compliant corporate bonds, convertible into equity as the Sri Lankan banks begin to raise funds to ramp up their capital through BASEL III sub debt for the first time. 

Growing informal sector to subdue hotel industry profit margins: Fitch

The profit margins of Sri Lankan hotels will continue to fall over the next two to three years due to the competition arising from low-priced accommodation in local and regional markets, according to Fitch Ratings.

Nawaloka Hospital completes 30 successful bone marrow transplants

A milestone in the country’s healthcare system was marked in September 2014, when the first bone marrow transplant was successfully performed at the Nawaloka Hospital. The hospital recently confirmed the country’s first ever successful bone marrow 

Mobitel, University of Kelaniya and ACCIMT collaborate for mobile technology innovation in cancer ca

The National Mobile Service Provider Mobitel, in collaboration with the University of Kelaniya and Arthur C. Clarke Institute for Modern Technologies(ACCIMT), is launching two interactive mobile apps for stoma care and breast cancer care.

Pan Asia Bank joins hands with Bellvantage

Sri Lanka’s fastest growing commercial bank, Pan Asia Banking corporation PLC recently joined hands with Bellvantage (Pvt.) Ltd to obtain an outsourcing solution to handle the bank’s 24x7/365 Contact Centre operation.

Make good times great this Deepavali with NDB Wealth

While experiencing the beauty of Deepavali, the Hindu Festival of Lights, always bear in mind that planning ahead makes any of life’s milestones even better.

Fitch rates Seylan Bank’s Basel III sub debt ‘BBB+(lka)(EXP)’

Fitch Ratings has assigned Seylan Bank PLC’s (A-(lka)/Stable) proposed Basel III-compliant subordinated debentures an expected National Long Term Rating of ‘BBB+(lka)(EXP)’.

Laugfs Gas celebrates two years in Bangladesh

Laugfs Gas, which is a part of the diversified Sri Lankan conglomerate Laugfs Holdings, recently celebrated two years of operation in Bangladesh with the presence of eminent local business leaders and government officials.

TMI Solutions appreciated by largest hospital in Maldives

TMI Solutions (Pvt.) Ltd, the authorized dealer for Nihon Kohden Corporation – Japan products in Maldives, was appreciated by the Indira Ghandhi Memorial Hospital for the contributions made for the upliftment of the Hospital’s Doctors and Nurses knowledge on Patient monitoring and resuscitation.

Enrich wins NCE Gold Award and two Silver Awards

Enrich Tea and Food Exports (Pvt.) Ltd, one of the leading tea and food exporters in Sri Lanka, bagged three coveted awards at the NCE Export Excellence Award ceremony 2017 organized by National Chamber of Exporters.

Tailor made FDs with Nations Trust Bank’s Flexi Deposit Scheme

Nations Trust Bank introduces Nations Flexi Deposit, a scheme tailor-made for fixed deposits with a flexible investment period of the customer’s own choosing to receive the benefits of high interest earnings.

Etihad Aviation Group Supports Vocational Excellence At Worldskills Abu Dhabi 2017

Etihad Aviation Group is proud to provide air, ground and logistical support to WorldSkills Abu Dhabi 2017, with thousands of competitors converging on the UAE’s capital city this week for the biggest

IQ leads the charge in Sri Lanka

For the first time in Sri Lanka, Innovation Quotient -IQ- is bridging the gap between human insight, applied creativity and technical capability. And it’s bringing these solutions to top corporates, 

Dialog Ridma Reyak 2017’ Musical Extravaganza

For the second consecutive year, premier telecommunication service provider, Dialog Axiata PLC, will support the much-anticipated musical extravaganza ‘Ridma Reyak’ on the 29th of October,

SL sees gains from GSP Plus in August

The Sri Lankan apparel sector finally appears to have started realizing the benefits of the recently reinstated Generalized System of Preferences Plus (GSP Plus) facility with the European Union (EU) with double digit growth in exports, while the exports to the US market too saw an uptick.

OFID loans additional US $ 18mn for Kaluganga project

OPEC Fund for International Development (OFID) has loaned an additional US$ 18 million to Sri Lanka for the Kaluganga Development Project (KDP), a Finance Ministry communiqué said.

Sirisena-Wickremesinghe govt. poised to leapfrog economy, Mangala tells World Bank

Sri Lanka’s unity government, headed by President Maithripala Sirisena and Prime Minister Ranil Wickremasinghe, is poised to leapfrog the economy after long years of conflict and political instability, according to Finance and Mass Media Minister Mangala Samaraweera.

Industrial production records strong rebound in August

Sri Lanka’s industrial production, which measures the volume of goods and services produced in the manufacturing sector, showed a healthy growth in August, both against the same month in 2016 and the month before in 2017. 

Dialog to shrink brick-and-mortar financial services of Colombo Trust Finance

With the acquisition of Colombo Trust Finance PLC (CTF) in September, Dialog Axiata PLC has sent a strong signal to the Lankan banks and finance companies that they should be ready to face their traditional brick-and-mortar business models being severely challenged during the next 5 to 10-year period. 

South Asia’s first NB-IoT service launched on Dialog’s 4G LTE network

Dialog Axiata PLC yesterday announced the unveiling of yet another cutting-edge technology solution with its foray into Narrowband Internet of Things (NB-IoT).  The first to launch the technology in South Asia, NB-IoT is a narrowband radio technology specially designed to enable seamless connectivity amongst devices using Low Power Wide Area (LPWA) technology. 

Ramada Colombo and SriLankan Airlines host IATO delegates

Ramada Colombo together with SriLankan Airlines recently had the pleasure of hosting the delegates from the Indian Association of Tour Operators (IATO) for cocktails and a lavish dinner at the Liberty Ballroom.