Category: Industry
Sampath Bank partners with Dialog to introduce eZ Banking
In an effort to triple its customer touch points and add unparalleled levels of banking convenience to its valuable customers, Sampath Bank has taken a significant step in the Agent Banking Model by entering an agreement with Sri Lanka’s largest mobile network operator Dialog Axiata PLC to introduce eZ Banking. With the opening of this […]
Union Assurance records total net revenue growth of 33-pct to Rs.6.95Bn in third quarter of 2022
Union Assurance, Sri Lanka’s trailblazing Life Insurer, achieved impressive financial growth in Q3 2022 despite challenging market conditions. Union Assurance (UA) rallied to become the second largest regular new business premium producer in the third quarter. Among the top 5 players in the industry, UA was one of the only two companies to record positive […]
Hambantota International Port surpasses half a million mark of RORO cargo
Hambantota International Port reached the milestone of handling 500,000 RORO cargo units in 2022 this November, with the discharging of 4302 units from Hyundai Glovis’ Hae Shin to the yard for transshipment. This year, 223 RORO vessels called at the port with cargo from India, South Korea, Japan and the Middle East for transshipment mainly […]
‘s Local Currency IDR to CCC-; Maintains RWN
Fitch Ratings has downgraded Bank of Ceylon’s (BOC) Long-Term Local-Currency Issuer Default Rating (IDR) to ‘CCC-‘ from ‘CCC’ and maintained it on Rating Watch Negative (RWN). At the same time, Fitch has affirmed BOC’s Long-Term Foreign-Currency IDR and Short-Term IDR at ‘RD’, Viability Rating (VR) at ‘f’ and Government Support Rating at ‘ns’. BOC’s National […]
Death of Legendary Tennis Coach Nick Bollettieri (1931-2022)
December 6, 2022 (LBO) – Nick Bollettieri, perhaps the most important figure in the history of Tennis coaching, has passed away at age 91. Bollettieri was the one of the pioneers of the ‘tennis academy’ concept, where the best players in the world would come together and train as well as school in the same […]
Microsoft and LinkedIn launch program to help people learn digital skills
Today, Microsoft and LinkedIn announced the next step in the Skills for Jobs program, providing free access to 350 courses and six new Career Essentials Certificates for six of the most in-demand jobs in the digital economy. Microsoft and LinkedIn will also be offering 50,000 LinkedIn Learning scholarships to help people get ahead in their […]
Sinopec to Import and Market Sri Lanka Products at 27,000 Outlets
Sinopec, the giant oil company with over 27,000 service stations in China, entered into an agreement with the Beijing Sri Road Connection Trade Company Limited during the Shanghai CIIE, to import and market Sri Lanka Food and Beverage products at their convenience stores. The contract is worth over USD 0.8 million. The 5th China International Import […]
Cinnamon Air Resumes Daily Scheduled Flights in Paradise
Cinnamon Air, Sri Lanka’s premier domestic airline, has resumed daily scheduled flights after a temporary suspension during the COVID-19 pandemic. The airline is the only domestic carrier in Sri Lanka offering daily scheduled flights and the only such airline to operate flights from the Bandaranaike International Airport (BIA) with a dedicated passenger terminal and aircraft […]
ComBank raises Rs10bn after debenture oversubscribed on opening day
The Commercial Bank of Ceylon has announced that its Rs 10 billion debenture issue closed within hours of opening after it was oversubscribed on opening day, Thursday 1st December 2022, in a noteworthy vote of confidence from investors. The debentures to the value of Rs 10 billion are being issued to further strengthen the Tier […]
Hapag Lloyd Lanka & Aitken Spence Travels boost tourism through luxury cruise Mein Schiff 5
Boosting the revival of the tourism industry in Sri Lanka, Hapag Lloyd Lanka ushers in super luxury cruise ‘Mein Schiff 5’ on the 29th of November at the Port of Colombo and the cruise will be calling the Port of Hambantota on the 30th of November 2022. More than 2,000 passengers (mostly European) and 900 […]
CBSL expects downward adjustment in bank interest rates; looking at imposing administrative measures
The Monetary Board of the Central Bank has noted with concern the anomalous rise in market interest rates, particularly deposit interest rates and short term lending interest rates, despite the recent improvements in overall money market conditions and the adverse implications on business and economic activity. “The Central Bank would expect a moderation of excessive […]
Government’s attention to resume negotiations on free trade agreements
Government’s intention was to resume the negotiations on free trade agreements said Secretary to the President Saman Ekanayake. It is the vision of the President that Sri Lanka will integrate with the global value chains and with the largest economies in South Asia and East Asia and then expand to the east region linking to […]