Category: Industry
‘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 […]
IMF response to securing SWAP facility of USD 1.5Bn China surprising: Cabraal
State Minister of Finance, Capital Markets, and State Enterprise Reforms Ajith Nivard Cabral says the International Monetary Fund (IMF) response to the news that Sri Lanka has been able to secure a SWAP facility of 10 billion Yuan (USD 1.5 billion) from the Peoples Bank Of China is quite surprising. “The request for the Covid assistance was made by […]
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 […]
Don’t listen to the aunties! Young people can find a great career in Tourism and Hospitality
By Jekhan Aruliah I first met Sinnaththurai Jeyakumar in 2020 at a particularly good dinner in Jetwing Jaffna’s elegant restaurant. We had eaten well, enjoyed a bottle of wine, and were feeling good. As we thanked our waiter, he asked if we would like to meet the chef. A moment later there he was. Smart, […]
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 […]
PAYable surpasses Rs.15Bn in transactions on platform
PAYable (Pvt) Ltd., Sri Lanka’s cashless payment solution provider, announced that it has processed 15 billion rupees in transactions on its platform to date. Commenting on the milestone, Yohan Wijesiriwardane, CEO and Co-founder of PAYable Sri Lanka said, “PAYable entering the cashless ecosystem in 2016 was a gamechanger; we disrupted the existing status, empowering MSME […]
‘s proposed senior debt
Fitch Ratings has withdrawn Seylan Bank PLC’s ‘A(lka)(EXP)’ expected rating, assigned on 21 August 2020, for its proposed senior debenture issuance. Fitch is withdrawing Seylan’s senior debt expected rating as it is no longer expected to convert to a final rating. We do not expect Seylan’s forthcoming senior debt issuance to proceed as previously envisaged. […]