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FitsAir announces integration with Mastercard Payment Gateway Services to strengthen its payment infrastructure
FitsAir, Sri Lanka’s first privately owned international airline, today announced its partnership with Mastercard involving integration with the Mastercard Payment Gateway Services (MPGS) platform to strengthen its payment infrastructure. Mastercard Payment Gateway Services platform enables merchants to accept both local and international payments, strengthening their ability to compete in the market.Through this partnership, FitsAir will […]
Rising Gold-Backed Loans Elevate Risks for Sri Lankan Finance Companies, says Fitch Ratings
Rising gold-backed lending among Sri Lanka’s finance and leasing companies (FLC) sector is exposing financiers to higher collateral price risk and making them more susceptible to any adverse movements in gold prices, says Fitch Ratings.Sri Lankan FLCs have grown gold-backed loans rapidly in the past several years amid shrinking demand for their core vehicle-financing business. […]
Distilleries’ Acquisition of Heineken Lanka May Challenge Lion Brewery Share: Fitch Ratings
Lion Brewery (Ceylon) PLC (AAA(lka)/Stable), the leader in Sri Lanka’s beer market, could face more competition in the medium term following Distilleries Company of Sri Lanka PLC’s (DIST; AAA(lka)/Stable) decision to acquire beer producer Heineken Lanka Limited, Fitch Ratings says. The full statement is reproduced below. Heineken is a distant second in Sri Lanka’s beer […]
6,000 Paddy Farmers to be Trained on Sustainable Cultivation with FAO and EU Support
The Food and Agriculture Organization of the United Nations (FAO) together with the Department of Agriculture and the Mahaweli Authority of Sri Lanka with funding from the European Union (EU) recently launched a Farmer Field Schools Programme to train 6,000 smallholder paddy farmers across four key rice-growing districts on sustainable approaches to paddy cultivation. The […]
Breakdown at Lakwijaya Thermal Power Plant: Unit 02 Generator Shut Down for Repairs
The Lakwijaya Thermal Power Plant in Norochchole encountered an emergency breakdown in its High-Pressure Heater System, forcing the halt of the Unit 02 Generator, the Ceylon Electricity Board (CEB) said. However, the plant’s third generator has completed its Level A Major Overhaul and is undergoing testing, positioning it for swift electricity production. Despite these challenges, […]
Ranee Jayamaha & Sanjeeva Jayawardena submitted their resignations well before SC judgement: CBSL
Both Dr. Ranee Jayamaha and Sanjeeva Jayawardena submitted their resignations well before the Supreme Court made its final judgement on 14.11.2023 with regard to the Fundamental Rights Case filed on Economic Crisis, the Central Bank said. Releasing a statement, the Central Bank said Dr. Ranee Jayamaha who was a member of the Monetary Board (MB) […]
Deloitte South Asia CEO to visit Sri Lanka this month
Romal Shetty the Chief Executive Officer of Deloitte South Asia is slated to visit Sri Lanka this month. His visit was announced on the day when over 500 professionals were welcomed into the Deloitte network entities in Sri Lanka and Maldives, making it one of the largest combinations in the history of professional services in […]
Cinnamon Hotels & Resorts on culinary extravaganza with Gary Mehigan in partnership with SriLankan
Cinnamon Hotels & Resorts is delighted to announce an exciting collaboration with the National Carrier, SriLankan Airlines, as the powered by partner for an upcoming series of exclusive events featuring the renowned British-Australian Michelin Star celebrity chef and former original judge of MasterChef Australia, Gary Mehigan. The culinary extravaganza is scheduled to take place from […]
Sri Lanka launches Nationally Determined Contributions (NDC) implementation plan
From record-breaking temperatures to increasing extreme weather events, in 2022 alone Asia recorded 81 weather, climate and water-related disasters which directly affected more than 50 million people, costing USD 36 billion in economic damages according to the World Meteorological Organisation’s State of the Climate in Asia report. The global landscape is changing dramatically with the […]
Design Code: Showcase of creativity, innovation, and collaboration
The University of Moratuwa unveiled their annual design showcase, “Design Code,” scheduled to take place from November 23rd to 26th. The Design Code, a four-day event is organized by the Department of Integrated Design, Faculty of Architecture, University of Moratuwa. During a recent press briefing, industry experts who participated, highlighted the crucial role of design […]