Category: Industry
Standard Chartered facilitates a trade loan to import 4 million COVID-19 vaccine doses for SPC
Standard Chartered Sri Lanka has successfully financed the import of 4 million COVID-19 vaccine doses for the State Pharmaceuticals Corporation by facilitating a trade loan to the Bank of Ceylon and People’s Bank, the Bank announced recently. In efforts to expedite the nation’s vaccination programme during the latest wave of the COVID-19 pandemic, Standard Chartered […]
Interview: CIAM; Challenges, opportunities and utilising it to meet evolving customer needs
Prabath Siriwardena, Vice President and Deputy CTO – Security Architecture at WSO2 discusses some of the challenges, opportunities and points to note surrounding the current environment of CIAM implementation. 1) What does Customer Identity and Access Management mean? Customer Identity and Access Management (CIAM) has become a bit of an overloaded term over time. There […]
Orient Finance records threefold increase in net operating income
Orient Finance PLC reported a profit before tax of LKR 193 Mn for the 2020-21 financial year, reflecting a year-over-year growth of 144 per cent. The company’s net operating income also increased 148 per cent from LKR 0.47 Bn to LKR 1.17 Bn during the year under review. This performance was despite the Company foregoing […]
Luxury SUVs for MPs while imports for doctors, general public held indefinitely: CMTA
The Ceylon Motor Traders Association (CMTA) has expressed its concerns on the decision the Government has taken to import 400 vehicles – including 227 luxury SUVs – to a value of Rs. 3.7 billion through the Bank of Ceylon. The Government reversed its earlier decision to cancel the order, citing the fact that the Letters […]
Sri Lankan non-life insurers’ capital to normalise after improving on lower claims
The regulatory risk-based capital (RBC) ratios of non-life insurers in Sri Lanka will normalise in the medium term with the resumption of dividend pay-outs to shareholders and a likely moderation in earnings, Fitch Ratings says. RBC ratios of non-life insurers improved considerably in 2020 due to the low motor and medical insurance claims following pandemic-led […]
Sri Lanka vehicle registration decline in Apr 2021
Total vehicle registrations for the month of April declined to 2,418 units from 3,556 units the previous month – the comparative month 12 months ago was zero due to the first lockdown, a new report shows. Data compiled by JB Securities equities research shows that April has many holidays and there was a semi lockdown in place […]
PUCSL approves second 300MW natural gas-fired combined cycle power plant
The Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator, granted its approval for the 2nd Re-gasified Liquid Natural Gas-fired Combined Cycle power plant to be tendered to build in Kerawalapitiya, during the emergency meeting held on 04th June 2021. “In May, the Ceylon Electricity Board requested PUCSL to tender this power plant […]
Central Bank requests banks to carry out essential banking services adhering to guidelines
Sri Lanka’s Central Bank requests banks to carry out essential banking services, strictly adhering to guidelines issued in providing banking services under the ongoing travel restrictions. Accordingly, all licensed banks shall make necessary arrangements to provide uninterrupted banking services complying with the following: (i) Opening of bank branches only to provide essential services such as […]
Sri Lanka Investment Forum 2021 kicks off
Sri Lanka Investment Forum 2021 was inaugurated this morning by His Excellency the President Gotabaya Rajapakse on a virtual platform. Today’s proceedings also featured keynote addresses by Ali Sabry Minister of Justice, Ajith Nivard Cabraal, State Minister for Money and Capital Markets and State Enterprise Reform, Dr.P.B. Jayasundera, Secretary to the President, Sanjaya Mohottala Chairman […]
DSI enjoins infringer for sale of lookalike products
An action was filed by D. Samson & Sons (Private) Limited, through its legal representatives, Sudath Perera Associates for the infringement of its trademark in the Commercial High Court Of Colombo recently. Court issued an Enjoining order against Udawatta Durage Lalith, restraining him, his employees, agents, workers and clients and anyone claiming under him, directly […]
Important notice for SriLankan Airlines passengers travelling to UK
SriLankan Airlines informs their customers that effective 0400hrs (UK Time) on Tuesday 8th June 2021, Sri Lanka will move to the “red list” of countries entering the United Kingdom. Passengers who have already booked their travel on next three flights to London UL 503 on 05th, 06th, and 07th June will not be affected by […]
WindForce declares over 1 bn dividends with a strong performance
WindForce Limited, which listed on the CSE this year, displayed a strong performance for the year 2020/21. The company declared an interim dividend of LKR 1,013 million for 21/22, which corresponds to a dividend per share of 0.75 LKR, yielding a return of 4.7% to shareholders. Performance in 2021 will receive a boost from the […]