Category: Industry
ComBank ranked among world’s Top 1000 banks for 12th consecutive year
The globally-respected UK magazine ‘The Banker’ has once again included the Commercial Bank of Ceylon in its prestigious ‘Top 1000 World Banks’ ranking, making Commercial Bank the only Sri Lankan bank to be ranked among the elite global giants in banking for 12 consecutive years. This ranking of the global who’s who of banking is […]
‘s first Comprehensive Pedal Cycle Insurance Cover
Keeping up with the evolving trends in the external environment, Fairfirst recently introduced “Pedal Cycle Insurance” as another industry-first insurance policy. Passionate about empathy-led innovation that always caters to evolving customer needs, the Company ensures that individuals are offered peace of mind when making sensible changes for the better. Thus, with much consideration given to […]
Actions will be taken to liquidate five failed finance companies: Central Bank
Actions will be taken to liquidate the five failed finance companies in accordance with applicable legal provisions, Sri Lanka’s Central Bank said. The Monetary Board, having considered the Report of the Advisory Committee on the five failed finance companies, noted that the proposals received for perusal of the said Committee were not viable and entailed […]
Troubled Transportation: Lessons for Colombo from Manila, Bangkok and Hong Kong
One of the most critical implications of Sri Lanka’s current economic crisis is the hard hit on the transport sector. The foreign exchange shortage has made importing fuel a major challenge, severely affecting road transportation and further impeding the performance of an already crippled economy. This Policy Insight gives context to the ongoing transportation issues […]
‘s Cauvery and Mannar Basins from FTG and aeromagnetic data
Bell Geospace, the world leaders in gravity gradiometry, has conducted the first aerial mapping of petroleum resources in Sri Lanka in Q4 of 2021, and will be presenting these insights – together with Wintermoon Geophysics- at the prestigious SEAPEX (South East Asia Petroleum Exploration Society) Asia Pacific Conference in London on Thursday the 30th of […]
”’/RWN
Fitch Ratings has downgraded Bank of Ceylon’s (BOC) Long- and Short-Term Foreign Currency (FC) Issuer Default Ratings (IDRs) to ‘RD’ (Restricted Default) from ‘CC’ and ‘C’, respectively. Fitch has also downgraded the Viability Rating (VR) to ‘f’ from ‘cc’, and removed the ratings from Rating Watch Negative (RWN). The rating actions are in accordance with […]
WSO2 Founder CEO Sanjiva Weerawarana receives 2022 IEEE TCSVC Research Innovation Award
WSO2, a leader in digital transformation technology, today announced that Dr. Sanjiva Weerawarana, WSO2 founder and CEO, is a recipient of the 2022 IEEE TCSVC Research Innovation Award. Each year, the IEEE Computer Society Technical Community on Services Computing (TCSVC) awards outstanding individuals and team efforts. The IEEE TCSVC Research Innovation Award recognizes individuals or […]
Pan Asia Bank ties up with Ria, world’s 3rd largest money transfer platform
As The Truly Sri Lankan Bank, Pan Asia Bank continues to add value to customer experience. In its latest customer-centric initiative, Pan Asia Bank is partnering with Ria Money Transfer, the US based third-largest remittance platform in the world, to offer its customers a wider choice of low-cost money transfer channels. With a worldwide network […]
Trillium Property Management ground breaks on USD 10Mn duplex apartment project
Trillium Property Management, a luxury apartment owner, developer, and operator, recently held the groundbreaking ceremony of its latest 60 upscale duplex (two stories) apartment project with exclusively designed 2 villas at at No:33, Lionel Edirisinghe Mawatha, Colombo 05. Chairman of Trillium Property Management Janaka Ratnayake graced the event, amidst a gathering of distinguished guests, including […]
Geographical Indication (GI) status for Ceylon Cinnamon attracts Turkish market
The Embassy of Sri Lanka in Turkey initiated a programme to promote Ceylon Cinnamon aggressively in Turkey after obtaining the European Union Geographical Indication status for Ceylon Cinnamon. The Embassy in collaboration with the Sri Lanka Export Development Board organized a networking and briefing session on Sri Lankan Spices, including Ceylon Cinnamon, to major Turkish […]
JKH to raise equivalent of USD 75Mn via unlisted convertible debentures to Fairfax Financial
John Keells Holdings PLC (JKH) announced it will raise the equivalent of USD 75 million of foreign direct investment by way of a private placement of Sri Lankan Rupee (LKR) denominated unlisted convertible debentures (“debentures”) to certain controlled affiliates of Fairfax Financial Holdings Limited, headquartered in Canada (collectively, “Fairfax”). The transaction amounts to a value […]
Towards a Developed Urban Transportation System: Lessons for Sri Lanka
A new publication from the Institute of Policy Studies of Sri Lanka (IPS) calls for a legally binding master plan for public transportation in Sri Lanka, whereby urban transport will become a fully integrated system instead of a collection of projects. The study notes that despite a broad planning context, the progress made in public […]