Category: Industry
Emirates announces exclusive fares for Sri Lankan travellers booking trips to Europe and USA
Emirates has announced special fares exclusive to Sri Lanka, enabling travellers from Colombo to enjoy journeys to Europe and North America while flying better. Inclusive of 20 popular destinations, the special fares allow Emirates customers to reap savings while enjoying the airline’s world-class services across all cabins. The limited-time only special rates enable passengers to […]
CEAT tyres roll into Brazil, expanding brand’s export footprint
Brazil, the country that gave the world natural rubber, has become the latest export market for CEAT tyres manufactured in Sri Lanka. CEAT Kelani Holdings recently despatched its first export consignment of tyres to Brazil, the second country in South America to join the Company’s international footprint, which covers 16 countries. The commencement of exports […]
Joint Chambers of Commerce Urge Customs Officials to Prioritise National Interests Above Personal Issues
The Joint Chambers of Commerce urge the Customs Officers to call off the ongoing work to rule, and the strike planned for the 4th and 5th of July. The current work to rule action has caused significant delays in clearing import cargo, resulting in supply chain disruption, and delays in production and delivery. The delay […]
SL and Singapore explore strengthening cooperation in maritime, port development and aviation sectors
High Commissioner of Sri Lanka to Singapore Senarath Dissanayake met with Minister for Transport and Second Minister for Finance of Singapore Chee Hong Tat, recently and discussed potential collaboration between the two countries on shared initiatives. During the meeting, High Commissioner Dissanayake provided an overview of the opportunities in Sri Lanka, particularly in the maritime […]
ComBank’s Debenture Issue, largest ever debenture by a private bank oversubscribed on opening day
The Commercial Bank of Ceylon’s and Sri Lanka’s largest ever debenture issue by a private bank closed after oversubscription on its opening day, Tuesday 2nd July 2024, raising Rs 20 billion for Sri Lanka’s biggest private sector bank, and demonstrating investor confidence in the institution. Announcing the oversubscription, the Bank said it had received applications […]
First Capital Holdings announce board appointments
First Capital Holdings PLC, a member of the Janashakthi Group, is pleased to announce key appointments to its Board of Directors, effective June 28, 2024. Veteran banker Rajendra Theagarajah has been appointed as the Chairman. Joining him are Inoshini Perera, Rachini Rajapaksa, and Dilendra Wimalasekere as new members of the Board. The appointment of Rajendra […]
Swiftcourt entering Sri Lanka market with Blockchain-Enabled Escrow Payment Service supported by XVC Tech & XDC Network
Swiftcourt, the leading platform for secure consumer-to-consumer (C2C) transactions in Europe, is set to revolutionize the global marketplace landscape by integrating advanced blockchain technologies. Since 2017, Swiftcourt has empowered marketplaces across Europe to become fully transactional, offering digital sales contracts, escrow payments, and a suite of add-on services. This innovation has facilitated over 700,000 secure […]
‘s First Sensor-Driven Brain Hearing Technology to Sri Lanka
Vision Care Hearing Solutions, a leading provider of hearing care solutions in Sri Lanka and a part of Vision Care, the largest vision and hearing care solutions provider in the country, recently introduced the Oticon ‘Intent’ hearing aid to the Sri Lankan market. As the sole agent for Oticon in Sri Lanka, Vision Care Hearing […]
”; Outlook stable
Fitch Ratings has affirmed Merchant Bank of Sri Lanka & Finance PLC’s (MBSL) National Long-Term Rating at ‘BBB+(lka)’. The Outlook on Stable. MBSL is 84.5% owned by Bank of Ceylon (BOC, A(lka)/Stable) and other BOC group entities. BOC is the largest banking group in the country. KEY RATING DRIVERS Shareholder Support Drives Ratings: MBSL’s rating […]
Central Bank announces implementation of Banking (Amendment) Act, No. 24 of 2024
The Central Bank of Sri Lanka (CBSL) wishes to announce the implementation of the Banking (Amendment) Act, No. 24 of 2024, effective from 15.06.2024. These amendments were formulated with a view to further strengthening the legal and regulatory framework applicable for licensed commercial banks and licensed specialised banks (licensed banks) to enhance the resilience of […]
SLBA rejects “misconceived” diatribe against lending and debt recovery practices of banks
The Sri Lanka Bank’s Association (SLBA) has rejected a reported recent tirade against banks by two senior lawmakers, describing their remarks as “misconceived, inaccurate, misleading and unhelpful.” The SLBA, which represents all banks licensed by the Central Bank of Sri Lanka (CBSL) including state banks, public listed companies and branch offices of international banks, said […]
Administrative penalties imposed by FIU on Financial Institutions from Jan 1st to Apr 30th 2024
By virtue of the powers vested under Section 19(1) read together with section 19(2) of the Financial Transactions Reporting Act, No. 6 of 2006 (FTRA), financial penalties are imposed on Institutions for non-compliance with the provisions of the FTRA. The penalty may be prescribed taking into consideration the nature and gravity of relevant non-compliance of […]