Author: lbostgadmin
UN launches new campaign, Only Together, to support global vaccine equity call
The United Nations today launched a new global campaign, Only Together to support its call for fair and equitable access to COVID-19 vaccines around the world. The campaign stresses the need for coordinated global action to ensure vaccines are accessible in all countries, starting with health-care workers and the most vulnerable. “Over the past year, we’ve all missed […]
‘s Basel III Sub Debt a BBB+(lka) final rating
Fitch Ratings has assigned Seylan Bank PLC’s (A(lka)/Stable) proposed Basel III-compliant subordinated unsecured debentures a National Long-Term Rating of ‘BBB+(lka)’. The final rating is the same as the expected rating assigned on 21 August 2020, and follows the receipt of documents conforming to information already received. The bank expects the proposed subordinated debentures to qualify […]
Facebook launches Instagram Lite in Sri Lanka
Facebook has launched Instagram Lite in Sri Lanka in order to provide access to all users, irrespective of the device, platform and network they are on. This lightweight version of the Instagram app for Android uses minimal data, similar to Facebook Lite. Built using Bloks technology, Instagram Lite is less than 2 MB in size […]
‘s official reserves down to USD 4.5bn by end Feb; YTD rupee depreciation 5.2-pct
Sri Lanka’s official reserves were 4.5 billion US dollars (USD 4,555.7mn) by the end of February, down from 4.8 billion US dollars in January, the latest Central Bank data showed. By the end of February, the foreign currency reserves were 4,097.3 million dollars while the reserve position in the IMF was 69.2 million dollars. Special […]
Asia Securities reiterates view of no sovereign default; swap conclusion a confidence booster
In a report issued today, the research arm of leading independent Investment Banking firm Asia Securities, reiterated that it does not see a risk of sovereign default at this point. The eagerly anticipated announcement of the USD 1.5bn currency swap agreement with China this week is expected to provide a significant boost to local and […]
Prime Residencies offers luxury apartments to customers
Prime Land Residencies Ltd, the condominium property arm of the maestro of real estate artistry in Sri Lanka, Prime Group, recently celebrated a milestone achievement upon the completion of its 35th property project. With 5 more projects nearing completion and yet another 5 more awaiting launch, the completion and handing over of 35 properties to anticipating residents has […]
Macksons Holdings launches their first mixed development project in Colombo
Macksons Tower by Macksons Developers was recently launched in the city of Colombo signifying the first mixed development project by Macksons Holdings. Situated at 12, Alfred House Gardens, Colombo 3, the property offers retail and office space with ample parking, thereby providing all required facilities at a convenient location. The soft opening was held in […]
‘s developments including USD1.5bn currency swap with China: IMF
International Monetary Fund (IMF) says that they continue to closely monitor economic policy and financial developments in Sri Lanka including the recent agreement on a swap line with the People’s Bank of China for $1.5 billion. Speaking at the IMF press briefing, Gerry Rice of the Communications Department said that the assessment for emergency financial […]
LSEG announces successful completion of All-Share Acquisition, Refinitiv
LSEG (London Stock Exchange Group) and Refinitiv have combined to become a leading global financial markets infrastructure and data provider. LSEG and Refinitiv have long provided important services and products to the market: the data and analytics used every day to make important decisions; the tools to fight financial crime; the execution venues used to […]
JAT Holdings appoints Devaka Cooray and Priyanthi Pieris to its Board of Directors
JAT Holdings, Sri Lanka’s trusted leader of material required to the Construction and Furnishing Industry, announced the appointment of two renowned industry professionals, Mr. Devaka Cooray and Mrs. Priyanthi Pieris, to its already elite Board of Directors. This appointment further strengthens the balance of the JAT Board by increasing the ratio of independent Directors to […]
Sri Lankan-born Creately lauded by top software reviewer G2
Sri Lanka’s own Creately was recently tapped as a top-five contender in the List of Best ANZ Sellers for 2021 by industry benchmark site G2. Additionally, G2 also tapped Creately as a Leader in the Diagramming segment. The world’s largest software marketplace and review platform, G2.com features over 100,000 reviews and over five million visitors. […]
Opinion: Insurance industry looks at Bionic Insuring in a ‘new normal’
By Chilman Jain, Principal, BCG – Prateek Roongta, Managing Director and Partner, BCG – Pranay Mehrotra, Managing Director and Senior Partner, BCG COVID-19 has disrupted most businesses globally and the insurance industry is no exception. Given the restrictions imposed by the pandemic, insurers have been compelled to accelerate their digital journeys and holistically digitize their […]