Nations Trust Bank – Leading digital banking in Sri Lanka

Nations Trust Bank (NTB) has been a pioneer in digital banking innovation in Sri Lanka since its inception. As a new entrant into an industry already dominated by giants in 1999, the bank used innovation, digital enablement and unparalleled customer experiences to stand out. Over the last 20 years, the bank has transformed itself into Sri Lanka’s most progressive and digitally savvy bank. We sat down with Nations Trust Bank Chief Digital Officer

BOC inaugurates ‘InnovBank’ int’l symposium to revolutionise future banking landscape

Bank of Ceylon (BOC) recently inaugurated an international symposium on innovative banking titled ‘InnovBank’, commemorating the bank’s 80th anniversary, under the theme ‘Innovative Banking in a Smart World’.

Cargills Bank fosters senior citizens’ FDs with Cargills Food City

Cargills Bank has introduced attractive interest rates for senior citizens’ fixed deposits mingled with dscounts on pharmaceutical purchases at Cargills Food City by partnering with Sri Lanka’s leading modern retailer, Cargills Foods Company (Pvt.) Ltd.

National Chamber inks MoU with Polish Chamber to develop economic relations

The National Chamber of Commerce of Sri Lanka (NCCSL) yesterday signed a Memorandum of Understanding (MoU) with the Polish Chamber of Commerce (PCC), to strengthen ties, establish trade and develop economic relations between the two countries.

Yunnan Green Food Promo and Conference to begin next week

Yunnan Green Food Promotion and Conference, jointly organized by Department of Commerce of Yunnan Province, Yunnan Commercial Representative Office in Colombo, Yunnan International Trade and Investment Service Center, Ceylon Chamber of Commerce, Federation of Chambers of Commerce and Industry of Sri Lanka and Sri Lanka China Business Council will be held on November 12 and 13.

Fireside Chat with Presidential candidates tomorrow

The third in the series of the popular Fireside Chat series will be hosted by the International Chamber of Commerce Sri Lanka (ICC Sri Lanka) together with Daily FT.

CCC to hold workshop on food risk communication

The Ceylon Chamber of Commerce will be organising a workshop on Food Risk Communication, in collaboration with the Food Industry Asia (FIA).

Fifth edition of Intex South Asia to open on November 13

The 5th edition of Intex South Asia in Sri Lanka will take place at BMICH, Colombo, from 13-15 November 2019.

Healthy IMF relationship urged to avert Greek-style collapse

Although Sri Lanka’s ongoing programme with the International Monetary Fund (IMF) is reaching its final stages, the country’s next government will have to maintain a healthy relationship with the multilateral lender to avert risking a Greek-style austerity scenario, according to the Central Bank Governor Dr. Indrajit Coomaraswamy.

Weak leisure sector hinders JKH 2Q earnings; consumer, retail segments gain momentum

The performance of Sri Lanka’s largest listed company, John Keells Holdings PLC (JKH) was hampered by its weak leisure sector operations hit by Easter Sunday attacks which dealt a crippling blow to the country’s booming tourism and hospitality industries.

Union Bank September earnings up on portfolio realignment

Union Bank of Colombo PLC reported higher earnings for the period ended September 30, 2019 (3Q19), but the core-banking operations remained muted due to slower growth in new loans as the country’s depressed economy looks for a catalyst beyond low interest rates to do the ticking.

SL completes 6th review; set to receive US$ 164mn from IMF

Sri Lanka will receive US$ 164 million from the International Monetary Fund (IMF), as the island nation successfully completed the sixth review of its economic performance under the programme supported by an extended arrangement under the Extended Fund Facility (EFF).

Union Assurance appoints new Chief Executive Officer

Union Assurance PLC, one of the largest life insurance companies in Sri Lanka, has appointed Jude Gomes as the new Chief Executive Officer.

Samurai bond delayed till next month

Sri Lanka’s maiden US$ 500 million (60 billion yen) 10 -year Samurai bond issuance has been pushed to December from this month, mainly due to extensive translation work involved in the issuance.

CB seeks AG’s opinion on how to proceed with forensic audit reports

The Central Bank will seek Attorney General’s (AG) advice on how to proceed with the five forensic audit reports on the alleged bond scams and Rs.2.2 trillion Employees’ Provident Fund (EPF) transactions, which are scheduled to be completed by November 10.

October inflation picks up to 5.4% amid uptrend in food prices

Sri Lanka’s inflation inched higher towards the upper band desired by the Central Bank in October due to a sharp increase in the food prices and the base effects coming from the same month last year.

Anne Mulcahy – Xerox CEO knew what it takes to win against all odds

Anne Mulcahy – former Chairperson and CEO of Xerox Corporation, was born in 1952, in New York, USA. She was the only daughter in her family and attended Catholic school as a child. She received a B.A. in English and Journalism from University in Tarrytown, New York.

CIMA CXO Forum focuses on thriving in digital economy

The annual CXO Forum of the Chartered Institute of Management Accountants (CIMA) in Sri Lanka was held recently, at Hilton Colombo Residences.

Dr. Coomaraswamy to deliver lecture at Jaffna University

The University of Jaffna for the first-time in its history is to host a guest lecture by Central Bank Governor Dr. Indrajit Coomaraswamy. He will deliver a special lecture entitled ‘Strengthening framework for policy formulation to address the macroeconomic stress, which has undermined progress and prosperity in Sri Lanka’.

Quality Assurance and Accreditation Bill no threat to professional bodies, says University Grants Commission Chair

The University Grants Commission (UGC) urges Sri Lanka’s professional bodies not to be threatened by the Quality Assurance (QA) and Accreditation Bill, while insisting that the bill would enhance the credibility of a degree or diploma programme locally and globally, avoiding any interfaces with the integrity and power vested on professional bodies.

MTI shares Asian best practices at Thimphu Tech-Park

A team of international consultants from MTI has engaged with Thimphu Tech-Park (TTP), advising and sharing the best practices on start-up eco-systems in frontier and emerging markets.

Sri Lanka hosts Asia’s largest conference on Organisational Excellence and Lean Six Sigma

Asia’s largest conference on Organisational Excellence – the second International Conference on Organisational Excellence and Lean Six Sigma and second SSMI graduation ceremony, organised by Dr. Mikel J. Harry of the Six Sigma Management Institute Asia (SSMI Asia), was held at Water’s Edge, Colombo, recently.

‘SLT Digitastic’ launched at Infotel

Sri Lanka Telecom (SLT), successfully launched the first ever ‘SLT Digitastic’ Digital Lifestyle Expo at Infotel 2019. “SLT Digitastic” will be held in parallel to Infotel between November 1st to 3rd the Sirimavo Bandaranaike Memorial Hall B. The expo was ceremonially opened by Minister of Digital Infrastructure & Information Technology, Ajith Perera and SLT Chairman P.G. Kumarasinghe Sirisena in the presence of SLT CEO Kiththi Perera, Chief Op

Boeing says dozens of 737NG planes grounded globally over cracks

NEW YORK (AFP) - Boeing announced Thursday that dozens of its popular 737NG planes had been taken out of service after cracks in them were detected, marking another setback for the crisis-stricken US aircraft maker. The new difficulties com

Energy giants face 35% output cut to hit Paris climate goals: watchdog

PARIS (AFP) - The biggest listed oil and gas giants must slash production by more than a third by 2040 to keep emissions within targets laid out in the landmark Paris climate deal, an industry watchdog said yesterday. Carbon Tr

Laugfs Gas continues to extend LPG supply to meet growing demand

In response to rising consumer demand for LP Gas, Laugfs Gas PLC has doubled its supply and continues to work around the clock. In the aftermath of the global LPG shortage following the drone attack at Saudi Aramco oil processing facilities, Laugfs PLC experienced a brief curtailing of the LPG supply line. However, the curtailing lasted only from Octo

SEAsia leaders to push for progress on China-backed trade pact

BANGKOK (AFP) - Southeast Asian leaders will race to get a sprawling China-backed trade pact over the line at a regional meeting in Thailand this weekend, as Beijing’s bruising trade war with Washington rumbles on. If signed, the Regiona

Asian markets mostly up but trade concerns cast shadow

HONG KONG (AFP) - Most Asian markets rose yesterday as traders overcame early jitters about the China-US trade talks that were fuelled by a report saying Beijing officials had raised doubts about the chances of a long-term deal. Investors were also spooked by a speech by Secretary of State Mike Pompeo, in which he called China ‘truly hostile’ to the US, leading Beijing to accuse the White House of “viciously” attacking it.

UK defends Brexit deal after Trump trade warning

LONDON (AFP) - British Prime Minister Boris Johnson’s office has defended his Brexit deal with the EU, after US President Donald Trump warned it would make it impossible for the two nations to strike a future trade agreement. The president, whose impeachment in the US has moved a stage closer following a key vote in Congress, waded into the British election campaign on Thursday to criticise Johnson’s divorce terms with the European bloc. “This

HSBC eyes even bigger slice of SL’s trade finance pie

Sri Lanka’s largest international bank, HSBC Sri Lanka, yesterday said it financed over 80, 000 trade transactions to the tune of US$ 2.3 billion, last year, and is investing to transform the country’s trade finance landscape by digitizing it.