Category: Industry
Distilleries’ Acquisition of Heineken Lanka May Challenge Lion Brewery Share: Fitch Ratings
Lion Brewery (Ceylon) PLC (AAA(lka)/Stable), the leader in Sri Lanka’s beer market, could face more competition in the medium term following Distilleries Company of Sri Lanka PLC’s (DIST; AAA(lka)/Stable) decision to acquire beer producer Heineken Lanka Limited, Fitch Ratings says. The full statement is reproduced below. Heineken is a distant second in Sri Lanka’s beer […]
Breakdown at Lakwijaya Thermal Power Plant: Unit 02 Generator Shut Down for Repairs
The Lakwijaya Thermal Power Plant in Norochchole encountered an emergency breakdown in its High-Pressure Heater System, forcing the halt of the Unit 02 Generator, the Ceylon Electricity Board (CEB) said. However, the plant’s third generator has completed its Level A Major Overhaul and is undergoing testing, positioning it for swift electricity production. Despite these challenges, […]
Deloitte South Asia CEO to visit Sri Lanka this month
Romal Shetty the Chief Executive Officer of Deloitte South Asia is slated to visit Sri Lanka this month. His visit was announced on the day when over 500 professionals were welcomed into the Deloitte network entities in Sri Lanka and Maldives, making it one of the largest combinations in the history of professional services in […]
Design Code: Showcase of creativity, innovation, and collaboration
The University of Moratuwa unveiled their annual design showcase, “Design Code,” scheduled to take place from November 23rd to 26th. The Design Code, a four-day event is organized by the Department of Integrated Design, Faculty of Architecture, University of Moratuwa. During a recent press briefing, industry experts who participated, highlighted the crucial role of design […]
HEINEKEN signs agreement with Distilleries Company of Sri Lanka
Heineken International B.V. (HEINEKEN) has signed an agreement with Distilleries Company of Sri Lanka PLC (DCSL) today. DCSL is a Public Limited Liability Company and is listed on the Colombo Stock Exchange (CSE). Under this agreement, HEINEKEN will sell all its shares in HEINEKEN Lanka Limited to DCSL and agree to Trademark Licence Agreements for […]
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Fitch Ratings has assigned National Development Bank PLC’s (NDB, A-(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III-compliant subordinated debentures of up to LKR5 billion a final National Long- Term Rating of ‘BBB(lka)’. The final rating is the same as the expected rating assigned on 1 September 2023 and follows the receipt of documents conforming to information […]
Siddhalepa honors Asian Games gold medalist Tharushi
Siddhalepa, a respected name in natural healthcare, took the opportunity to honor and appreciate the outstanding achievements of Tharushi Karunarathna, the young Sri Lankan track and field athlete who made history with her remarkable performance at the 19th Asian Games in Hangzhou, China last month. Tharushi, with her determination and prowess, secured a gold medal, competing […]
Cabinet approval mandatory in appointing Interim Committees for Sri Lanka Cricket
President Ranil Wickremesinghe has instructed the Chairman of the Ministerial Sub-Committee for Cricket to spearhead efforts aimed at lifting the ban imposed by the International Cricket Council (ICC) on Sri Lanka Cricket. Further, it has been decided that, moving forward, the approval of the cabinet will be mandatory for the appointment of any interim committees.
Comm Bank Group’s 9-month gross income up 30.88-pct to Rs 256 Bn
A heightened emphasis on lending has seen the Commercial Bank Group increase gross loans and advances by Rs 51.404 billion in the third quarter of 2023 at a monthly average of Rs 17.135 billion, growing its loan book by 4.33% over three months to Rs 1.239 trillion and reversing the trend of the first half […]
CEB e-Billing System extended for more areas
The Ceylon Electricity Board (CEB) has announced the implementation of the CEB e-Billing system for more areas. Accordingly, customers residing in the Dehiwala, Kelaniya, Sri Jayewardenepura, Matara & Ambalangoda areas will exclusively receive their electricity bills in a digital format, either through SMS or email. This marks the discontinuation of the conventional practice of issuing […]
Launch of the Artificial Intelligence Readiness Assessment for Sri Lanka
The advent of Artificial Intelligence (AI) is ushering in rapid transformation across various economic sectors, promising to revolutionise industries such as agriculture, transportation, education, and healthcare. Against this backdrop, the concept of “AI readiness” has taken centre stage, with many recognizing AI’s potential to elevate public services, and work towards increasing efficiencies across multiple sectors. […]
Epic Lanka unveils digitalization strategy beyond 25 years with 20 innovative products
Epic Lanka, a wholly Sri Lankan-owned fintech and digital transformation solutions provider with a quarter-century of experience in the IT industry, recently marked the momentous occasion of their 25th anniversary. This milestone underscores their enduring commitment to excellence and their significant contributions to the field of financial technology. Evolving from its roots as a project-driven […]