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Pakistan and Sri Lanka sign five Memoranda of Understanding
In line with the two-day official visit of the Prime Minister of Pakistan Imran Khan, five economically important agreements were signed between Sri Lanka and Pakistan at Temple Trees this afternoon (23). Prime Minister Mahinda Rajapaksa and Prime Minister Imran Khan were also present at the event. Following are the bilateral agreements signed between Sri […]
Seylan Bank records Rs. 3Bn profit after tax for 2020
In the backdrop of an extremely challenging environment, Seylan Bank recorded a Profit After Tax (PAT) of LKR 3Bn for the year ended 31 December 2020. Income Statement Interest Income of the Bank stood at LKR 52.3Bn while interest expenses stood at LKR 32.8Bn reflecting a Net Interest Income (NII) of LKR 19.5Bn with an […]
Sri Lanka January inflation at 3.7-pct
The overall rate of inflation as measured by NCPI on Year-on-Year basis is 3.7 percent in January 2021 and inflation calculated for December 2020 was 4.6 percent. Year-on-Year inflation of both food group and non food group have decreased from 7.5 percent in December 2020 to 5.9 percent in January 2021 and from 2.2 percent […]
ASUS launches its first-ever exclusive store in Sri Lanka
ASUS Sri Lanka – the renowned multinational technology enterprise – has launched its maiden exclusive store in the heart of Colombo; the very first in the country. The store is conveniently and centrally located in Unity Plaza – the only shopping complex in Sri Lanka that is solely dedicated for IT and IT-related solutions – […]
HNB Group posts PAT of Rs 13.7Bn during 2020; total deposits grow by Rs 158Bn
Hatton National Bank PLC (HNB) demonstrated resilience and an unwavering focus on sustainable business performance as it posted Rs 13.7 Bn in Group Profit After Tax during 2020, a year laden with unprecedented circumstances and challenges. Bank level Profit After Taxes amounted to Rs 11.5 Bn. Commenting on the performance, Chairman of HNB Dinesh Weerakkody […]
Cyber Care App launched to combat cyber violence in Sri Lanka
The COVID-19 outbreak with the resultant lockdown and stay-at-home measures have led to a surge in online activity by young people. This increased online presence has heightened their susceptibility to online sexual abuse, cyber bullying, exploitation, and other risks. To address this growing concern and to help combat online hate faced by many youth in Sri […]
Sokin announces partnership with Mastercard in South Asia to expand fixed-price payments
Sokin, the new generation fintech payment firm, has signed a partnership agreement with Mastercard in South Asia to provide its fixed-price payment services in India, Sri Lanka, Bangladesh, Nepal and the Maldives. Sokin is the only global payments provider that will provide a fixed-fee subscription-based payment service for fast and cost-effective currency exchange with no […]
Sri Lanka discusses with US Justice Dept charges against accused in Easter Sunday bombings
Ambassador Ravinatha Aryasinha had a virtual discussion with Dan Stigall, Deputy Chief of Staff & Counselor for International Affairs, Department of Justice (DoJ) recently to follow-up on the charges filed last month by the US District Court in Los Angeles against 3 Sri Lankans for “Conspiring to Provide Material Support to ISIS” in the Easter […]
Economy at a glance for 2020:Double whammy blow
Highlights ICRA Lanka estimates Sri Lanka’s GDP growth rate in 2020 to be -4%. In addition, our estimates indicate industry, services, and agricultural sectors to have contracted by 7.3%, 1.7% and 1.3% respectively. By mid-March the COVID crisis took center stage and the CBSL implemented a series of policy rate cuts further bringing the short-term […]
Ceylinco Life records income of Rs 36.98 billion in 2020
Ceylinco Life has achieved consolidated income of Rs 36.98 billion for FY 2020, demonstrating the Company’s ability to grow business volumes and investment returns even in the most challenging conditions. This top line growth of 15.2 per cent was made possible by Gross Written Premium Income of Rs 22.07 billion for the 12 months ending […]