DFCC iConnect to facilitate employee EPF payments

The Central Bank of Sri Lanka recently signed an agreement with DFCC Bank to facilitate EPF payments online through DFCC’s iConnect Payments and Cash Management Portal.

HNBA New Business and Claims departments receive ISO certification

The New Business Management Department and Life Claims Department of HNB Assurance PLC (HNBA) were certified with ISO 9001:2015.

Pan Asia Bank’s customer-centric banking ensures higher returns, accessibility and safety

During the past few months, Sri Lanka has witnessed a rocky economic growth, influenced by unfortunate events that took place. These events took the spotlight away from the country’s booming tourism, retail/trade, banking and other sectors alike, hurting expected yields of growth, development and overall progress.

EDB, Plantation Ministry, RDD and RRI to jointly hold workshops for smallholder farmers

The Export Development Board (EDB) together with Plantation Industries Ministry, Rubber Development Department (RDD) and Rubber Research Institute (RRI) will be organizing a series of workshops to give the smallholder farmers the necessary awareness and knowledge on productivity improvement through adaptation of modern technology in the year 2019.

ICC celebrates centenary

The International Chamber of Commerce (ICC) Founded in 1919 following aftermath of the First World War. ICC was built on the conviction that strong commercial ties between nations would ultimately reduce the risk of war and armed conflict. Since that time, ICC has been at the forefront of advancing peace and prosperity globally.

CASA optimistic about new ECT deal

The Ceylon Association of Shipping Agents (CASA) yesterday welcomed the proposed new revival deal for the East Container Terminal as part of Colombo Port expansion.

Tourism to bounce back in one year if authorities can get recovery plan mix right

Top representatives of the country’s tourism industry yesterday said the sector is likely to bounce back in one year if the authorities can get the recovery plan mix right in the aftermath of the Easter Sunday attacks that killed over 250 people and injured over 500 more.

AIA Insurance Lanka appoints new CEO

AIA Insurance Lanka yesterday announced the appointment of Nikhil Advani as its new Chief Executive Officer.

Economy to suffer further if communalism creeps into corporate sector: Amunugama

Sri Lanka’s economy will suffer further if communalism is allowed to creep into the country’s corporate sector, United People’s Freedom Alliance (UPFA) MP Dr. Sarath Amunugama told Parliament recently.

CB seen cutting rates to boost growth after Easter attacks

Sri Lanka’s Central Bank is widely expected to cut its key interest rates at a meeting on Friday, a Reuters poll showed, to support the economy after tourism and investment plummeted in the wake of Easter Sunday bombings.

FinMin launches e-government procurement system

The Public Finance Department of the Finance Ministry yesterday announced the launch of electronic government procurement (e-GP) system, which is expected to save Rs.30 billion to the Treasury per annum while significantly improving the public financial management.

Stocks gain, rupee steady on hope of rate cut

(Colombo) REUTERS: Sri Lankan shares rose on Wednesday while the rupee closed steady on hope of a rate cut by the Central Bank later this week, market sources said. The Central Bank is widely expected to cut its key interest rates at a meeting on Friday, a Reuters poll showed, to support the economy after tourism and investment plummeted in the wake of Easter

Lessons from Cu Chi tunnels for a contemporary CEO/Leader

It has been 17 years since I last visited Vietnam. I had planned my revisit to this easternmost country on the Indochina Peninsula long before the Easter bombing disasters, so it was a trip I had to take.

HNB partners Brown & Co. to offer agri equipment

Sri Lanka’s premier financial solutions provider HNB PLC, announced a partnership with Brown and Company PLC to offer exclusive leasing packages on agricultural vehicles especially for customers in the SME and MSME sectors.

NTB Amex announces winner of ‘Pump Fuel and Win’ campaign

Nations Trust Bank (NTB) American Express (Amex) recently concluded its ‘Pump Fuel and Win a Trip to see Northern Lights in Iceland’ campaign with the presenting of the award to the winner Lahiru Pathmalal.

RDB appoints Development Assistants

The Regional Development Bank (RDB) appointed 304 employees to fulfill the Development Assistant position at a ceremony held at the auditorium of the Ministry of Finance with the presence of Finance Minister Mangala Samaraweera as chief guest, on May 22, 2019.

Maga completes Rs.6 bn water works in 2018

Maga Engineering, Sri Lanka’s leading construction company, completed Rs. 6 billion worth of work in the water sector in the year 2018, delivering few projects of national importance in the process.

Sri Lanka to host 2021 ADB annual meeting

The 54th Annual Meeting of the Board of Governors of the Asian Development Bank (ADB) is to be held in Colombo, in May 2021.

Imports fall in March; CB readies to cut rates

Imports to Sri Lanka fell sharply while exports recorded the highest ever monthly figure in March, as the effects of tight monetary and exchange policies bode well to temporarily contain the trade gap from expanding.

Govt. inks deal with Japan and India to develop East Container Terminal

Sri Lanka yesterday inked a memorandum of cooperation (MOC) with the government of Japan and India to develop the East Container Terminal (ECT) of the Port of Colombo.

Lotus Renewable Energy acquires Hatton Plantations

Lotus Renewable Energy (Private) Limited (LREL) yesterday bought the controlling stake of Hatton Plantations PLC (HPL) for a consideration of Rs.1 billion.

India, Germany and Switzerland soften travel advisories on Sri Lanka

India, Germany, and Switzerland, which advised their citizens to avoid unnecessary travel to Sri Lanka in the aftermath of Easter Sunday bombings, have softened their stance on the island nation.

Stocks snap 2 days of falls; rupee edges lower

(Colombo) REUTERS: Sri Lankan shares snapped two consecutive sessions of falls yesterday in high turnover, led by Hatton Plantations Plc, while the rupee closed slightly weaker.

First Capital sees strong bias for rate cut

As Easter Sunday attacks further dampens Sri Lanka’s growth prospects, the Monetary Board of the Central Bank faces an inevitable situation to support the economy through a policy rate cut in the third monetary policy review meeting this week, the Colombo-based First Capital Research said.

HSBC launches int’l banking services for Lankan students planning to study overseas

At any given time there are close to 19,000 Sri Lankan students overseas on higher education. HSBC Sri Lanka, leveraging its international connectivity and capabilities, has come up with a unique proposition, becoming the first bank in the country that offers a full range of services to this segment.

Mitra Innovation CEO Suppiah wins ‘Technopreneur of the Year 2019’ Award

Celebrating rapid growth and commitment to innovation, Ashok Suppiah, the CEO of UK-based Mitra Innovation was named ‘Technopreneur of the Year 2019’ at the Global Leadership Awards 2019, held on May 2nd 2019 at the Malaysian Trade and Exhibition Center.

Samsung announces record-breaking sales for Galaxy S10

Affirming Samsung’s heritage of creating stunning designs and feature-rich smartphones, the Galaxy S10 has set a new benchmark for performance in Sri Lanka, with its pre order sales of Galaxy S10 going through the roof - recording more than double the sales as compared to S9 and S9+.

ITC support propels Sri Lankan IT companies to Swedish outsourcing market

Seven Sri Lankan companies travelled to Stockholm to hold 70 business meetings with 20 Swedish companies interested in outsourcing to Sri Lanka.

Mobitel joins GSMA APAC IoT Partnership Programme

Taking further strides in expanding its influence in the nascent Internet of Things (IoT) technologies space in Sri Lanka, Mobitel signed and exchanged a Memorandum of Understanding with the GSMA APAC IoT Partnership Programme at the recently concluded Smart City Summit & Expo event in Taipei, Taiwan.

SLT fibre to power newest apartment complex Green Star Residencies

Sri Lanka Telecom (SLT), recently entered into a partnership with Idieal Engineering (Pvt) Ltd., professional engineering firm, which provides a comprehensive range of engineering and related services.