Category: Other
DFCC maintains profitability under volatile market conditions
DFCC’s Total Assets grew by LKR 15,652 million to LKR 390,560 million DFCC recorded Tier 1 and total capital adequacy ratios of 10.34% and 15.45% respectively DFCC’s Core Business recorded a PAT increase of 9%. Profitability Core business of DFCC Bank posted a profit before tax of LKR 1,585 million and profit after tax of […]
Samsung customers can binge on free K-POP & other content via My Galaxy App
In exciting news for Samsung Galaxy customers, K-POP content is now available FREE on My Galaxy App on Samsung Galaxy smartphones. Increasing in popularity amongst younger customers, Sri Lanka has a large number of K-POP fans who can now enjoy hours of Korean dramas and K-POP music at their convenience and at no extra cost. […]
Sampath Bank’s Net Interest Income up by 23-pct in Q1 2019
Sampath Bank reported a net interest income of Rs. 10.2 Bn for Q1 2019 reflecting a noteworthy growth of 23.2% over the figure reported in Q1 2018, a significant achievement given the challenging economic conditions that prevailed throughout the period. The bank recorded a profit after tax of Rs. 2.2 Bn, a negative growth over […]
HNB launches its own digital wallet and payment app, Solo eWallet
Laying the foundation for a comprehensive digital payment ecosystem in Sri Lanka, the country’s most innovative bank, Hatton National Bank PLC, announced the launch of its own digital wallet and payment app, HNB Solo. Providing users with complete freedom in digital payments, Solo is designed to empower – enabling complete flexibility to handle any transaction […]
USD 70mn loan facility from IDA to strengthen services of Local Govt Authorities
The International Development Association (IDA) of the World Bank has provided a loan facility of USD 70 million to strengthen the service provided by 134 Local Authorities in the Northern, Eastern, North Central and Uva Provinces under the Local Development Support Project (LDSP). The signing of this Loan Agreement took place on Tuesday the May […]
‘s only Dangerous Goods Storage Facility
May 14, 2019 (LBO) – Sri Lanka’s first, and South Asia’s most advanced, Dangerous Goods Storage Facility (DGSF) was commissioned on Friday, 10th May at the Colombo International Container Terminal (CICT) equipping the Port of Colombo with a sophisticated storage yard for cargo classified under the International Maritime Dangerous Goods (IMDG) Code. An investment of […]
US-China trade tensions: Fitch says further tariff escalation would hamper global growth
May 13, 2019 (LBO) – The US decision to increase tariffs to 25 percent on an additional 200 billion dollars of imports from China marks a significant escalation in US-China trade tensions, and highlights the risk of a protracted trade war beyond our current assumptions, the Fitch Ratings said. The rating agency, however, said the […]
Justice Minister rejects claims that US diplomat interfered with Sri Lankan Judiciary
May 13, 2019 (LBO) – Sri Lanka’s Justice Minister Thalatha Athukorale yesterday condemned the allegations made by Udaya Gammanpila in Parliament that a Legal Consultant attached to the Department of Justice in the American Embassy has interfered with the affairs of local judiciary during a workshop held in the United States. Athukorale says these workshops […]
‘s pay tops $ 18mn
May 12, 2019 (LBO) – Shemara Wikramanayake, CEO of global investment bank Macquarie, earned over $18mn in the last fiscal year. Her total annual renumeration makes her one of the highest paid executives in Australia. The disclosure of her compensation came out as the company she leads reported earnings of $3bn for the year. https://www.afr.com/business/banking-and-finance/the-eight-macquarie-bosses-paid-more-than-27-000-a-day-20190503-p51jue […]
Five key policy lessons from the terror attacks in Sri Lanka
By: Ganeshan Wignaraja Over 250 people died in last month’s IS-linked Easter bombings in Sri Lanka, making it one of the worst terror attacks since 9/11. Major incidents such as this cause extreme disruption in fragile countries like Sri Lanka, which is already grappling with the legacies of a thirty-year civil conflict, a simmering debt crisis, […]
Nirj Deva seeking a 5th term in the European Parliament
May 11, 2019 (LBO) – Niranjan Deva Aditya, more commonly known as the Hon. Nirj Deva, is seeking a fifth term in the European Parliament elections scheduled for May 23rd. The British elected European Parliamentarian of Sri Lankan descent is one of the longest serving European Parliamentarians.He has served in the legislative body for 20 […]
Softlogic Restaurants ranked among Asia’s Best Workplaces in 2019
Softlogic Restaurants Pvt Ltd., part of the Softlogic group of companies, and the Master Franchisee in Sri Lanka for global brands Burger King, Baskin-Robbins and Délifrance, has been ranked among the Best Workplaces in Asia 2019 in the Small & Medium Category by Great Place to Work®, in a major endorsement of the Company’s human […]