Category: Industry
”’ National Rating on watch positive
Fitch Ratings has maintained Sri Lanka Telecom PLC’s (SLT) ‘A(lka)’ National Long-Term Rating on Rating Watch Positive (RWP). The RWP reflects the potential rating upside from the removal of linkages with SLT’s parent, the Sri Lankan government (Long-Term Local-Currency Issuer Default Rating (IDR): CCC-), as the government is in the process of selling its 50.2% […]
FitsAir acquires approval for inflight catering
FitsAir, Sri Lanka’s leading low-cost airline, is proud to announce a significant enhancement to its service offerings by obtaining approval for inflight self-catering. This strategic move aligns with the airline’s vision to offer low-cost international travel. FitsAir’s Inflight Catering Services prioritise affordability and variety, providing passengers with wallet-friendly meal choices that won’t strain their budgets. […]
Japanese Finance Minister to visit Sri Lanka this week
Minister of Finance of Japan, Suzuki Shunichi will undertake an official visit to Sri Lanka from 11-12 January 2024. During the visit, Japanese Finance Minister is scheduled to have official discussions with President Ranil Wickremesinghe and Minister of Foreign Affairs Ali Sabry. Minister of Finance of Japan SUZUKI Shunichi and the delegation will visit Parliament, Jayawardene Centre, […]
Union Bank appoints Dilshan Rodrigo as Deputy CEO
Union Bank announces the appointment of Dilshan Rodrigo as the Deputy Chief Executive Officer with effect from 15 January 2024. Dilshan Rodrigo is a top banking professional with an impressive track record with over two decades of Banking experience. He last served as the Executive Director/Chief Operating Officer at Hatton National Bank (HNB), where he […]
Hambantota Port Sees 26-pct Surge in RO-RO Transshipment Volumes in 2023
On 30th December 2023, the Hambantota International Port (HIP) proved itself as the fastest growing RO-RO transshipment port in the region. With 700,000 transshipment vehicles handled, the port marked a significant 26% increase from 2022 figures. The milestone figure was achieved with Glovis vessel MV. HAE SHIN V.003B handling 3626 units for transshipment to Ulsan […]
CEAT goes Green in Sri Lanka with 2.4 MW solar power plant at Kelaniya
Sri Lanka’s top tyre maker CEAT Kelani Holdings has completed an investment of Rs 475.97 million in a High Tension (HT) metering roof-top photovoltaic panel solar power plant as part of the company’s efforts to reduce the carbon footprint of its manufacturing operations at its Kelaniya complex. The 2.4 MW solar power plant installed by […]
ComBank unveils evolved logo, symbolising commitment to sustainability
The Commercial Bank of Ceylon has begun 2024 by underlining its commitment to sustainability – symbolically as well as literally. The instantly-recognisable Commercial Bank logo in blue will hereafter also feature a green element, representing the Bank’s multifaceted commitment to sustainability, encompassing diversity, inclusivity, good governance, transparency, social equity, accountability and eco-friendly banking solutions, the […]
Chef Gary Mehigan explores Sri Lanka’s cuisine, culture and scenery through Cinnamon Hotels & Resort
Gary Mehigan, the distinguished British-Australian celebrity chef and former original judge of MasterChef Australia, embarked on a profound weeklong exploration through the enchanting landscapes of Sri Lanka. This immersive journey followed a remarkable 3-day culinary experience hosted in collaboration with Cinnamon Hotels & Resorts. Immersing himself in the essence of Sri Lankan cuisine, culture, and […]
SriLankan Airlines welcomes another aircraft to its fleet
SriLankan Airlines recently welcomed the arrival of a wide-bodied Airbus A330-200 aircraft wet-leased from Air Belgium, giving a further boost to its fleet. The aircraft has 22 Business Class and 240 Economy Class seats and is scheduled to operate on the Frankfurt, Dhaka and Dubai routes with effect from 29 December 2023. A second aircraft […]
Janashakthi Group announces transfer of 25% of First Capital Holdings shares to Janashakthi Insurance
Janashakthi Group (JXG), a leading conglomerate in financial services with a presence in the Insurance, Finance, and Investment sectors, announces a strategic move to enhance Group synergies through the transfer of 25% of First Capital Holdings PLC shares to Janashakthi Insurance PLC. This transfer is aimed at fostering a more cohesive and integrated approach across […]
Nirvana Chaudhary appointed as Chairman, Union Bank
Union Bank announced the appointment of Nirvana Chaudhary as the Chairman of Union Bank with effect from 21 December 2023. Chaudhary was appointed as a Non-Executive, Non-Independent Director to the Union Bank Board in October 2023. Chaudhary has extensive experience as a business leader and is presently the Managing Director of CG Capital Partners Global […]
‘ Funds
The Sri Lanka Banks Association (SLBA) has issued a statement defending the use of Parate Execution as a legal remedy for recovering mortgaged assets from wilful defaulters and businesses that are no longer viable. The statement comes in response to what the SLBA terms as “lobbying by a group of defaulting borrowers” seeking to weaken […]