Author: lbostgadmin
Rootcode debuts Sri Lanka’s first ever Tech-Triathlon combining engineering, design and AI
Rootcode, a global software engineering company committed to building great tech, is hosting Sri Lanka’s first-ever Tech-Triathlon, a competition that combines Engineering, User Experience (UX), and Artificial Intelligence (AI) to upskill the next generation and foster a strong tech community in the country. The competition received 1180 registered participants from students all over the island. The […]
Sri Lanka Embassy organizes Food Festival in Israel
The Embassy of Sri Lanka in the State of Israel organized a Sri Lankan food festival featuring 32 traditional dishes showcasing the culinary diversity of Sri Lanka. The event was held at the residence of the Ambassador of Sri Lanka, in Tel Aviv. Invitees included members of travel and tour agencies, journalists, culinary writers, YouTubers, […]
CBSL imposes caps on interest rates on pawning facilities, pre-arranged temporary overdrafts & credit cards
The Monetary Board has decided to impose caps on interest rates on pawning facilities at 18 percent, per annum; on pre-arranged temporary overdrafts at 23 percent, per annum; and on credit cards at 28 percent, per annum, for all licensed banks. Further, the Board was of the view that penal interest rates need to be […]
Central Bank maintains policy interest rates at their current levels
The Monetary Board of the Central Bank, at its meeting held on 23 August 2023, decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 11.00 percent and 12.00 percent, respectively. The Board had arrived at this decision following a […]
WindForce, Lakdhanavi & Singapore firm join forces on 100 MW renewable energy project with USD152Mn investment
WindForce PLC – Sri Lanka’s leader in renewable energy, in partnership with Lakdhanavi – the leading Independent Power Producer (IPP) in Sri Lanka, and The Blue Circle – a Singapore-based investment firm focused on renewable energy, has formed a consortium set to embark on a transformative power generation project that will reshape Sri Lanka’s renewable […]
Beyond Protection: How Motor Insurance Boosts Industries and the Economy
Awareness by the Insurance Association of Sri Lanka – IASL Traffic congestion, capacity constraints, and sweltering heat make traveling in public transport a stressful and draining experience in Sri Lanka. Vehicle ownership largely eases these difficulties and brings peace of mind to motorists. However, with the convenience of vehicle ownership comes an added level of […]
Opinion: Sri Lanka is Back in Business
By Kamil Kuthubdeen As Asian economies grapple with the challenges of growing interest rates and diminishing export demand, Sri Lanka, in comparison, stands as a unique case. Amid the twin effects of the COVID-19 pandemic and the Ukraine war, Sri Lanka emerges with a positive economic outlook. Tourism revenue and remittances from Sri Lankan overseas […]
HNB partners with JICA for sustainable socio-economic development in Sri Lanka
Working towards a shared objective of sustainable socio-economic development in Sri Lanka, Sri Lanka’s leading private sector bank HNB PLC has partnered with the Japan International Cooperation Agency (JICA). Through the partnership, JICA – Japan’s Official Development Assistance (ODA) executing agency – will leverage its experience as a long-standing development partner to the island nation, […]
SriLankan Airlines relaunches flights to Jeddah
SriLankan Airlines has relaunched direct flights from Colombo to Jeddah with a thrice weekly service every Tuesday, Wednesday and Sunday. SriLankan Airlines is currently the only carrier to offer a non-stop flight schedule between the two cities, opening a convenient gateway to the holy cities of Makkah and Madinah for Umrah pilgrims in Sri Lanka […]
Dipped Products sets standard for sustainable growth: Launches ESG roadmap ‘DPL Pulse’
Export manufacturer of hand protection solutions and member of the Hayleys Group, Dipped Products PLC (DPL), announced the launch of its new ESG roadmap ‘DPL Pulse’. ‘DPL Pulse’ builds on the environmental and social consciousness already rooted within the organisation and aligns with the Hayleys Group’s long-term sustainability aspirations as outlined in the Hayleys Lifecode. […]
Sampath Bank reports profit before tax of Rs 13.2 Bn
Financial Highlights During the first half of 2023, Sampath Bank reported robust financial performance, with a profit before tax (PBT) of Rs 13.2 Bn and a profit after tax (PAT) of Rs 7.7 Bn, representing growth of 46.6% and 8.1% respectively compared to 1H 2022. Key financial highlights for 1H 2023 compared to the same […]
First Capital reports profits of Rs. 2.8Bn
First Capital Holdings PLC (the Group) announces its outstanding financial performance for the first quarter ended June 30, 2023. The Group reported an impressive Profit after Tax of Rs. 2.81 billion, marking a remarkable leap from Rs. 96 million recorded in the same period last year. Among the key divisions, the Primary Dealer segment demonstrated […]