Category: Industry
PickMe partners with LankaQR to reduce the Dollar outflow
PickMe recently partnered with LankaQR to facilitate direct payments. LankaQR (LQR) is a common Quick Response (QR) code standard adopted by financial institutions in Sri Lanka to facilitate fast, secure and low-cost digital payments to any merchant, especially small and medium enterprises. It enables customers to pay merchants directly from their bank accounts (CASA) and […]
First Capital Looks to Future Growth with a Performance First Outlook
First Capital Holdings PLC, a Janashakthi Group Company with over 35 years of industry knowledge, recently concluded its Annual General Meeting presenting the Annual Report 2020-21 on the theme of ‘Performance First’ to its shareholders. The group recorded an exceptional year reaching new financial and non-financial performance milestones, recording Rs. 2.09 billion in Profits After […]
‘s Basel III Sub Debt A-(lka)(EXP)
Fitch Ratings has assigned the proposed Basel III-compliant subordinated unsecured debentures of Sri Lanka’s National Development Bank PLC (NDB, A+(lka)/Stable) an expected National Long-Term Rating of ‘A-(lka)(EXP)’. The proposed debentures will total up to LKR8 billion with maturities of five and seven years, and will be listed on the Colombo Stock Exchange. NDB plans to […]
Sri Lankan import restrictions at odds with WTO rules hurt welfare of citizens: Economists
A panel of eminent economists urged that the Government take credible and decisive action to carry out immediate trade reforms. Advocata’s Academic Chair Dr. Sarath Rajapatirana, emphasised that “Countries that have grown very fast, especially in east asia have understood the importance of trade reform”. Further adding that the first step of such a reform […]
SriLankan Airlines launches flights to Paris
SriLankan Airlines unveils flights to the French capital, Paris. SriLankan‛ s new service will operate scheduled flights between Colombo‛s Bandaranaike International Airport (BIA) and France‛s Paris Charles de Gaulle Airport (CDG) from 1st November 2021. Accordingly, SriLankan would commence thrice weekly, non-stop flights to France every Wednesday, Friday, and Saturday using a fleet of Airbus […]
Government must take meaningful steps without compromising international friendship: Eran
With the corona epidemic and mismanagement of the economy, the country is now facing a Trinity of crises which cannot be cured by this government due to its intrinsic nature of mismanagement said Samagi Jana Balawegaya MP Eran Wickramaratne. Addressing a press conference held at the Opposition Leader’s Office in Colombo today, the Member of […]
”’
Fitch Ratings has assigned Commercial Bank of Ceylon PLC’s (CB, AA-(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III-compliant subordinated debentures of up to LKR10 billion a final National Long-Term Rating of ‘A(lka)’. The final ratings are the same as the expected ratings assigned on 24 June 2021 (and subsequently affirmed on 3 August 2021) and follow […]
Sri Lanka needs new water and sanitation policies to unlock investment barriers
Comprehensive policies will improve community access, increase focus on sanitation and investment A new policy could tackle urbanisation challenges for inclusive and sustainable water and sanitation management It can also open new investment approaches to bridge the large financing gaps as the country prepares to rise above the impact of COVID-19 Meeting Sri Lanka’s rapidly […]
Interview: Local and International wins for architect Palinda Kannagara
Palinda Kannagara is one of the top Sri Lankan architects based in Columbo who has recently been honored both locally and internationally for his work. He is principal architect at Palinda Kannangara Architects, Columbo, Sri Lanka. Lanka Business Online had a detailed conversation with the acclaimed architect about the recent honors received and his design […]
JAT Receives CIDA Accreditation, Enjoys LKR 1 Bn in Confirmed Specialized Interior Projects
JAT Holdings PLC, the market leader for wood coatings in Sri Lanka, was recently accredited with the coveted CIDA SP 01 Certification. The Construction Industry Development Authority (CIDA) is the national body responsible for working towards enhancing the competence and reliability of Sri Lanka’s construction industry and bringing it on par with global standards. The […]
Nations Trust Bank Enables Growth of Small and Medium Enterprises
Employing over 70% of the working population in Sri Lanka, SMEs are responsible for nearly a third of the country’s industrial output with a sizeable contribution to the country’s Gross Domestic Production (GDP). And yet, SMEs are faced with multiple challenges whenever market disruption happens, as evidenced during the Coronavirus pandemic. In this background, Nations […]
Opinion: Avoiding IMF won’t help us avoid austerity
Naqiya Shiraz and Rehana Thowfeek Sri Lanka’s debt problems are a topic of national conversation. Foreign reserves, already low at USD 4bn in May 2021 fell to USD 2.8bn after the most recent bond repayment of USD 1bn in July 2021 . The Government claims that the timely repayment of the bond is proof that doomsayers […]