Category: Industry
Aitken Spence expands renewable energy portfolio with solar
Aitken Spence PLC reiterates their commitment to local and global sustainable development goals by acquiring Sagasolar Power (Private) Ltd, from the major shareholder LOLC Group for Rs. 1.4 billion. Moreover, it is in line with Sri Lanka’s power and energy strategy to increase power generation from the renewable energy sector. This investment from Aitken Spence […]
SriLankan Airlines denies reports of flight cancellation
SriLankan Airlines would like to correct certain false information circulating on media about the possible cancellation of a host of SriLankan Airlines’ flights due to the ongoing fuel shortage in Sri Lanka. SriLankan Airlines vehemently denies the accuracy of such information and confirms that it has been able to manage its flight schedule with suitable […]
Ceylon Chamber appeals to all parties to prevent violence on 9th July
Ceylon Chamber of Commerce notes that a number of political parties, professional associations and civil society organizations have called for mass protests on 9 th July. While clearly understanding the views of the general public and recognizing their freedom of speech and right to express views through public protests, CCC appeals to all parties to […]
JAAF commends industry’s resilience as apparel export earnings rise 30-pct YoY in May
The Joint Apparel Association Forum (JAAF) thanked all industry stakeholders for their outstanding resilience in ensuring that the sector continued to meet its commitments in the face of unprecedented challenges, as apparel export earnings expanded by 30% Year-on-Year (YoY) up to US$ 446 million in May 2022. Accounting for approximately 6% of Sri Lanka’s Gross […]
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 […]