Category: Industry
Brandix sustainability summit calls for net-zero carbon future
Brandix hosted its inaugural Sustainability Summit on the 4th of June, in celebration of World Environment Day 2021 on 5th June. The summit focused on the theme ‘Towards a Net Zero Future – Translating Targets to Action’, providing a platform for key stakeholders to explore the business case for accelerating action in line with the […]
CSE reports highest quarterly earnings surpassing LKR 100bn milestone: Softlogic Research
The CSE witnessed another landmark, as reported earnings crossed the LKR 100bn mark for the first time in the history of the CSE during the first quarter of the calendar year 2021. The growth is a monumental 189% YoY growth compared to the corresponding quarter the previous year. Recording its best quarterly earnings performance in […]
Ceylon Petroleum Corporation to build new storage facility at Hambantota International Port
The Ceylon Petroleum Corporation (CPC) signed a Memorandum of Understanding with the Hambantota International Port Group (HIPG), last week to develop Hambantota Port as a strategic energy center in Sri Lanka. The signing ceremony was held at the Ministry of Energy, with top officials of CPC and HIPG participating. A separate storage terminal with associated […]
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 […]