Category: Industry
Samp Bank partner with Central Bank to promoting QR payments
Sampath Bank PLC joined hands with the Central Bank of Sri Lanka (CBSL) yet again to raise awareness and increase acceptance and usage of LANKAQR, the common Quick Response (QR) code standard for the country that was introduced in 2020. Encouraging consumers to adopt LANKAQR for their day to day transactions, Sampath Bank held a […]
Sri Lanka Ports Authority implements clearance of all imported goods through electronic methods
The Sri Lanka Ports Authority (SLPA) has taken steps towards the clearance of all imports at the Port of Colombo through electronic payments via the Internet. This allows port users to make payments from their homes or offices to clear goods from the Port of Colombo. This special facility will enable port users to make […]
Opinion: Extended producer responsibility to help address Sri Lanka’s plastic waste management
By Manjula de Silva, Secretary General and CEO, Ceylon Chamber of Commerce Each year, over 640,000 metric tonnes of plastic leak into the Indian Ocean from Sri Lanka (Clean Cities, Blue Ocean, June 2020). The Western Province alone generates around 7500 metric tons of solid waste every day, out of which only 3500 metric tons are […]
‘ National IFS Ratings
Fitch Ratings has revised the National Insurance Financial Strength Ratings (IFS) of two Sri Lankan insurers following the recalibration of the agency’s Sri Lankan national rating scale. Full Statement The recalibration reflects changes in the relative creditworthiness among Sri Lankan issuers, following Fitch’s downgrade of the country’s sovereign rating to ‘CCC’ from ‘B-‘ on 27 […]
Central Bank advises public to be watchful about online financial frauds & scams
The Central Bank strongly advises the public to be watchful about online financial frauds & scams and not to share any confidential information. The Central Bank said it has received information regarding several types of financial frauds and scams being operated through social media, Internet-based applications and mobile payment applications. Most of these scams are […]
“SL opens its doors to World” announced at travel trade awareness session in Mumbai
A virtual awareness session for the Travel Trade in Western India was held on 19 January 2021 to announce the re-opening of Sri Lanka for international tourists from 21st January 2021. This was the first awareness session organized for the Indian Market to inform of Sri Lanka’s re-opening and the “safety protocols” associated with the re-opening […]
SL vehicle registrations show an increase in Dec 2020: Jan expected to be nil
Jan 21, 2021 (LBO) – Sri Lanka’s vehicle registrations for the month of December show an increase mainly due to a shifting of registrations from the month of November, a new report says. Data compiled by JB Securities equities research shows that total vehicle registrations recorded 4,407 units in the month of Dec up from 2,868 […]
SL explores bilateral trade with Philippines
The Embassy of Sri Lanka in Manila initiated a virtual introductory meeting between the State Trading Corporation of Sri Lanka (STC) and the Philippine International Trading Corporation (PITC) on 13 January 2021 to discuss opportunities for mutually-beneficial trade engagements between Sri Lanka and the Philippines. Ambassador Shobini Gunasekera, in her welcome remarks, enjoined the two […]
CBSL instructs banks to defer payment of cash dividends until financial statements are finalized
The Monetary Board of the Central Bank having considered the possible adverse impact on liquidity and other key performance indicators of licensed commercial banks and licensed specialised banks have issued directions on restrictions on discretionary payments of licensed banks. Accordingly, these directions shall be applicable to every licensed bank incorporated or established in Sri Lanka […]
Prime Finance raises Rs. 527mn via rights issue to meet core capital requirements
Prime Finance PLC, a member of the Prime Group, announced that it raised capital of Rs. 526.68 million following the successful conclusion of its fully subscribed Rights Issue in December 2020. Prime Finance PLC is a Licensed Finance Company by the Monetary Board of Central Bank of Sri Lanka (CBSL) which provides personal and business […]
Union Assurance records highest MDRT qualifiers in Sri Lanka
Union Assurance makes history with an all-new record of Million Dollar Round Table (MDRT) qualifiers to achieve #1 position in Sri Lanka. With 172 qualifiers, the Company achieves industry-leading status recording the highest number of Top of the Table achievers (5), ten (10) Court of the Table qualifiers and 157 MDRT qualifiers. MDRT is a global, independent association of the world’s leading life insurance and financial services professionals […]
The differences between big data, data science and data analytics – and why it matters to your business.
As today’s software development practices form their foundations on the cloud through cloud support services, digital applications are more interconnected than ever before. If your IT agency is a dedicated AWS partner (or partnered with any other leading provider, for that matter) this implies a relationship with an entity apart from your development team. This […]