Bank of Ceylon Continues its Winning Streak with the Gold Award in the State Bank Category at the CASL Annual Report Awards »
The 55th Annual Report Awards Ceremony organized by Chartered Accountants of Sri Lanka once again recognized Bank of Ceylon for the Albert A Page Memorial Award as it was adjudged for the Gold Award winner in the State Bank Category for its 2018 Annual Report “The Icon of Trust”.
Emerging Media Pvt. Ltd. was announced as the winner of the SLIM 2019 Silver Award for the SME Local Brand of the Year. Several organizations gathered at the SLIM Brand Excellence Awards ceremony held at the Shangri-La Hotel,
Bank clinches the special award for overall excellence in annual financial reporting. Sri Lanka’s leading private sector bank HNB PLC bagged two silvers and a bronze, a total win of three awards at the recently concluded Chartered Accountants of Sri Lanka’s 55th Annual Report awards.
Giving is an important part of the Christmas spirit, which is shared among family and friends, and the Daraz Grand Christmas 12.12 Sale offers customers the chance to join in the ‘Joy of Gifting’ without having to leave the comfort of their homes.
Sri Lanka Telecom (SLT), the foremost ICT and digital lifestyle facilitator in the country with an expanding customer base over eleven millions varying from multinational corporations to retail and domestic customers,
Seylan Bank PLC closed its Rights Issue of new ordinary voting shares and new ordinary non-voting shares to its shareholders on November 29 and the issue was fully subscribed by its shareholders.
Pannipitiya Private Hospital which holds a reputed name in the health sector for over 20 years in Sri Lanka opened its new luxury room complex with modern amenities recently.
Cinnamon Air (www.cinnamonair.com), Sri Lanka’s premier domestic airline, gears up to meet the demand for domestic air travel this Winter (Northern Hemisphere) by introducing their latest daily scheduled flight routes from Sigiriya and Kandy to Sri Lanka’s Southern coastal cities,
Sysco LABS was honored at the SLASSCOM Innovation Awards 2019; for the restaurant technology platform CAKE. CAKE's Unified Data Platform won 1st runner up in the 'Best Technology or Framework Innovation' category.
Business News Update: The festive spirit is in full swing as Emirates prepares to serve 500,000 Christmas meals across all classes
Isobar Sri Lanka, a leading full-service digital agency part of the global giant Dentsu Aegis network, recently won the Digital Agency of the Year silver in Campaign Asia’s South Asia edition of the awards, held in Mumbai last week.
The Commercial Bank of Ceylon has launched pre-paid cards that can be topped up with funds online and can be used for different or specific purposes while allowing their users to better manage spending and enjoy minimal exposure to risk.
Ellawala Horticulture(Pvt) Ltd, gold award winning entrepreneur of Anuradhapura district in 2018, made history again by taking 3 coveted awards at Mahaweli Entrepreneurship Presidential Awards - 2019 held at BMICH, recently, with former President Maithriepala Sirisena taking part as the chief guest.
Fitch Ratings has assigned HNB Finance Limited's (HFL, A(lka)/Stable) proposed Sri Lanka rupee-denominated subordinated unsecured debentures a final National Long-Term Rating of 'BBB+(lka)'.
One of the series of economic development goals announced by the government yesterday for the next five years is a per capita GDP share of US$ 6,500 per individual Sri Lankan.
Legendary investor Dr. Mark Mobius will give a presentation today at the Cinnamon Grand Colombo on' Emerging Markets and the Growth Trajectory of Sri Lanka.' John Keells Holdings has organized the invitee-only event.
Sri Lanka has been named the top destination, with USA Today visiting 20 countries this season. Sri Lanka has been described as an exotic Indian Ocean island that seduces everyone who walks with its beautiful unspoiled wilderness, colorful past, and flavorful cuisine.
Citizens Development Business Finance PLC (CDB) has been recognized among the ten best corporate citizens for the third time at the Best Corporate Citizen Sustainability Awards 2019, recently hosted by the Ceylon Chamber of Commerce.
People’s Leasing & Finance PLC (PLC), the benchmark company in Sri Lankan leasing and non-bank finance landscape was recognized as one of the top 10 best Corporate Citizen in Sri Lanka, at the recently concluded ‘Best Corporate Citizen Sustainability Award - 2019’ for the 7th time. PLC also was recognized as the winner in Community Relations Category at the Awards.
The Senior Deputy General Manager of Pan Asia Bank Mr. Naleen Edirisinghe was the Chief Guest at the opening ceremony and Mr. Harsha Kurukulasuriya – Assistant General Manager Operations & Administration was the guest of honor.
Mahindra & Mahindra Ltd, part of the US$ 20.7 billion Mahindra Group, in association with its Sri Lankan partner Ideal Motors (Pvt) Ltd., part of the Ideal Group, launched the Mahindra Furio, its intermediate commercial trucks, in Sri Lanka recently.
LCB Finance, adjudged as the Emerging Finance Company of the Year at the recently concluded South Asia Business Excellence Awards, opened their 8th branch in Negombo recently. Mayor of Negombo Dayan Lanza was the Chief Guest at the opening.
Sri Lanka Insurance records a rigorous growth of 13.59% surpassing the industry growth in the life insurance sector for the period ended September 30, 2019. Sri Lanka Insurance Life achieved total gross written premium of Rs. 11.03 billion maintaining the positive momentum of the life insurance industry.
KPMG Global announced investments in technology, people and innovation, and expects to spend US$5 billion over the next five years to enhance its leadership position in the digital transformation of professional services.
The Jaffna International Trade Fair (JITF), the multi-faceted gateway to the north, will bring together some of Sri Lanka’s favorite brands and services. The wide range of products for sale and display will give an opportunity for all stakeholders to enter one of Sri Lanka’s largest untapped markets.
Abans PLC won the Silver Award under the Trading Companies category for the second consecutive year at the 55th Annual Report Awards 2019 conducted by the Institute of Chartered Accountants of Sri Lanka at a ceremony held on December 3, at Shangra-La Colombo.
Smart Media The Annual Report Company has been appointed a Training Foundation Partner for integrated reporting by the International Integrated Reporting Council (IIRC).
K Seeds Investments has identified LB Finance as the best performing Finance Company among the 31 listed Finance Companies in Sri Lanka through a ranking carried out considering their performance in the second quarter of 2019
Access Motors, together with The Council for Business with Britain (CBB), which is part of the Chamber of Commerce, hosted a fundraising event to felicitate Sri Lankan cricketing icon Kumar Sangakkara at the Shangri-La Hotel, Colombo recently.
It has been observed that certain individuals and entities mobilize funds from the public by issuing various instruments. Promissory Notes, Commercial Papers and Debentures are few of them.
“Environment, Social and Governance factors are vital determinants of investment decisions” says CSE Chairman »
“Sustainable investing has continued to gain momentum among financial market participants and Environment, Social and Governance factors are vital determinants of investment decisions.
Sri Lanka Tourism needs to make more efficient use of the CESS fund, and this would be a key focus area, said Arundika Fernando, new Minister of State for Tourism Promotion.
Browns Hotels & Resorts together with Browns Tours recently hosted a glittering night for their valuable and loyal partners who are also key stakeholders of the leisure industry. With record attendance, the partner night was held for the second consecutive year.
Japanese Tour Operators/ Agents participate in a FAM Tour to promote Sri Lanka as a travel destination »
Sri Lanka Tourism Promotion Bureau, (SLTPB) in collaboration with the Embassy of Sri Lanka in Japan, organized a FAM Tour for a delegation of Japanese tour operators/ agents representing 20 Japanese companies.
Engaged in an ever-evolving knowledge-based industry, ISM APAC very recently concluded its annual corporate social responsibility programme ‘Sipsatharata Arunellak’ on a grand-scale this time around, as part of its ambitious plans to uplift education by developing underprivileged schools across Sri Lanka.
Fitch Ratings is withdrawing the expected National Long-Term Rating of 'AA-(EXP)(lka)' assigned to Commercial Bank of Ceylon PLC's (CB; AA(lka)/Stable) proposed Basel III-compliant subordinated unsecured debentures.
Fitch Ratings has assigned Nations Trust Bank PLC's (NTB, A(lka)/Stable) proposed Basel III-compliant subordinated unsecured debentures a final National Long-Term Rating of 'A-(lka)'.
The Ceylon Chamber of Commerce is optimistic that the revisions in Taxes and Levies announced by the government will stimulate the economy. The slew of tax proposals put forward as part of the stimulus package will revive economic growth and activity in the short-term.
Union Bank recently revealed the Bank’s seasonal credit cards discount scheme that offers up to 50% savings at over 100 merchant partner outlets island-wide.
Pan Asia Bank recently held a felicitation ceremony to recognize 44 of its long-standing staff members who have served the bank for over 10 years. Among those who were felicitated, there were 10 staff members who have completed 20 years, 15 staff members who have completed 15 years and 19 staff members who have completed 10 years.
Kick Off The Festive Season Celebrations At The Dutch Hospital Precinct With Nations Trust Bank American Express »
Nations Trust Bank American Express has partnered with the Dutch Hospital Shopping Precinct for the 7th consecutive year to celebrate the end of year festive season and the Dutch Hospital’s 8th anniversary.
The season is upon us. The weather is cooler; there is an ever-present soft breeze all around, and the smell of breeder is almost in the air. It’s that time of the year again - time to revel in the joy of Christmas!
The Commercial Bank of Ceylon has been crowned the ‘Bank of the Year’ 2019 in Sri Lanka by The Banker Magazine of the UK, the longest-running international banking publication in the world.
SriLankan Airlines received yet another global accolade based on passenger ratings when it won the Passenger Choice Award for ‘Best Wi-Fi for Central Asia’ from the Airline Passenger Experience Association (APEX) at the Future Travel Experience Asia Awards 2019 held in Singapore recently.
Oman’s fastest-growing value-for-money airline, SalamAir launched its first direct flight to Sri Lanka on 25 November 2019 from Muscat to Colombo.
Twenty-five member Japanese Travel Agents and Tour Operators are now in Sri Lanka on a familiarization visit to witness the current situation in the country, especially after the Easter Sunday attack.
NDB Bank was honored at the “Best Corporate Citizen Sustainability Award 2019” as a Top Ten Best Corporate Citizen, at the annual event organized by the Ceylon Chamber of Commerce, to recognize sustainable champions of the local corporate sphere.
CCPI's yer-on-year inflation was 4.4 percent in November 2019, and October 2019 inflation was 5.4 percent, the Census and Statistics Department said.
The Monetary Board of the Central Bank of Sri Lanka has granted approval in terms of section 76F read with section 9(9) of the Banking Act No. 30 of 1988 (as amended),
The Empower SME Board of the Colombo Stock Exchange is a crucial medium when it comes to helping smaller companies attract investment and also for investors looking to invest in companies that are in their earlier stages.
Vistara Airlines, India’s finest full service carrier and a joint venture of Tata Sons and Singapore Airlines inaugurated their service to Colombo on the 25th of November 2019, at the Bandaranaike International Airport, (BIA) amidst a warm welcome given by officials of the Sri Lanka Tourism Promotion Bureau, Industry representatives and senior officials.
Sri Lanka’s most customer-friendly bank HNB PLC made further progress in its mission to connect local travelers to exotic international destinations with the announcement of a new partnership with premier online travel partner findmyfare.com.
Sri Lanka's most respected retail bank, HNB PLC continued to win prestigious acclaim for its efforts in driving a more sustainable banking and corporate culture, this year winning a total of 7 awards at the recently concluded Ceylon Chamber of Commerce (CCC) Best Corporate Citizen Sustainability Awards 2019 (BCCSA).
Business News Update: The Commercial Bank of Ceylon’s commitment to People, the Planet and Profit – the three pillars of sustainability
Fashion Bug, a leading clothing retailer in the country, has appointed the Commercial Bank of Ceylon as its Internet Payment Gateway (IPG) service provider, enhancing its website’s security and user friendliness for online shoppers.
Sri Lanka’s most popular retail bank, HNB PLC, announced the launch of an expanded set of offers – this time including discounts up to 70% from a selection of over 200 of the most popular merchants island-wide – just in time for the start of the festive season.
Pan Asia Bank, one of Sri Lanka’s fastest growing commercial banks joined hands with the National Chamber of Commerce of Sri Lanka and National Enterprise Development Authority to sponsor “Western Province Entrepreneurship Awards ceremony 2019” which was concluded in a grand scale at Sri Lanka Foundation premises on 30 October 2019.
Pan Asia Bank’s Rising Fixed Deposit – the unique two year FD that allows depositor to benefit from market interest rate increases even during the tenure of the deposit while safeguarding him/her from any downward trends in market interest rates.
Special Life Protection Cover From Allianz Insurance; Exclusively For Nations Trust Bank American Express Cardmembers »
Nations Trust Bank American Express Cardmembers can now enjoy exclusive Life Protection Covers from Allianz Insurance. Under this new scheme, Cardmembers are entitled to an insurance cover in the event of an untimely death or total permanent disability.
Subdued economic conditions that prevailed in the country affected many key economic sectors impacting the financial performance of many businesses. Amidst rising NPLs, increased credit cost and moderation of credit growth, the Group pre-tax profits recorded a 2% increase over the previous period.
DFCC Bank PLC recently entered into a breakthrough partnership with one of the oldest and most established corporate entities in the Maldives, Cyprea Group of Companies, for a dual-tranche bilateral term loan, together with trade finance and guarantee facility. This landmark transaction is the single largest bilateral deal arranged by DFCC Bank to-date.
DFCC Bank, the bank for everyone launched the very first DFCC ‘Viyapaara Sahaya’ SME program at Grand Monarch, Thalawathugoda recently. Over fifty entrepreneurs from Kottawa, Piliyandala, Maharagama & Gangodawila areas were present at the inaugural interactive workshop.
Serendib Finance Ltd., a fully-owned subsidiary of the Commercial Bank of Ceylon PLC, recently relocated its Dambulla branch to a spacious new building, and has announced higher interest rates for fixed deposits.
The Bank of Ceylon’s Akurana branch in the Central Province was relocated recently to add convenience together with novel digital banking technology to customers in the area. BOC Akurana was ceremoniously opened at the 151A, Matale Road, Akurana.
Significant improvements in the third quarter, which positively impacted its year-to-date performance, have enabled the Commercial Bank Group to post creditable results for the nine months ended 30th September 2019.
Paving the way for tomorrow’s bright stars, the Bank of Ceylon’s “Ran Kekulu Scholarships 2019” in calling for applications from Grade 5 scholarship achievers who have obtained highest marks in 2019 Grade 5 scholarship examination.
The LMD 100, has been ranking the Top Sri Lankan listed corporates for the last 25 years. Ranked at 95th position, Amana Bank is the youngest listed company to be among the LMD 100 in 2018.
Amana Bank has showcased resilience by recording a 9 month Profit After Tax of Rs 431.0 million in 2019, in line with Rs 430.0 million that was achieved during a relatively favorable economic environment in the corresponding period of 2018.
The Embassy of Sri Lanka in Turkey Host Networking Reception to Boost B2B Contact between Sri Lanka –Turkey Travel Agents »
The Embassy of Sri Lanka in Turkey organized business networking reception for the visiting Sri Lankan travel trade delegation participated at the EXPO Travel Ankara fair 2019 at the Embassy on 14th November 2019.
Headline inflation as measured by the year-on-year change in the National Consumer Price Index NCPI, 2013=100)1 increased to 5.6 per cent in October 2019 from 5.0 per cent in September 2019. The monthly increases of prices of items in the Food category contributed to this increase.
Sri Lanka Tourism holds ‘’Taste of Abu Dhabi ‘’ in collaboration with the Sri Lanka Embassy in the U.A.E »
Sri Lanka Tourism Promotion Bureau (SLTPB) in collaboration with the Sri Lankan Embassy in Abu Dhabi organized a Sri Lankan tourism promotion event titled ‘’ The Taste of Abu Dhabi ‘’ at the du Arena, Yas Island, Abu Dhabi, UAE, from 07th to 09th November 2019.
The Embassy of Sri Lanka in partnership with the Sri Lanka Tourism Promotion Bureau participated at Travel News Market 2019 held at the Stockholm Waterfront on 07th November.
The Central Bank of Sri Lanka has received information regarding several types of financial frauds and scams being operated through social media, and Internet-based applications. Recently, an increase of these types of scams has been observed.
The Consulate General of Sri Lanka in Toronto participated in the fourth annual Tea Festival held at the Royal Botanical Gardens, Burlington, Ontario from 9th to 10th November 2019.
The Central Bank expresses its Strong Objection to the Contents of the Statement released by Fitch Rating »
The Central Bank of Sri Lanka strongly objects to the statement released by Fitch Ratings on 21 November 2019 titled “Sri Lanka Election Result Increases Policy Uncertainty”,
SriLankan Airlines was commended and recognized at the National ICT Awards – NBQSA 2019 Ceremony held on 11th October 2019 for the talent and innovation of its IT staff, winning the Bronze and Merit Awards in the ‘In-House Application’ category.
With the motive of bringing fitness and healthy lifestyle choices to every neighborhood, Power World Gyms recently declared open its full-fledged fitness center at Arangala, Malabe.
Sri Lanka Tourism Promotion Bureau (SLTPB) was able to make a considerable impact on the international community with its tourism products, culture and scenic locations with its participation at the Swiss International Holiday Exhibition in Lugano, in Switzerland, which was held from 1st -3rd November 2019.
The Sri Lanka Export Development Board (EDB) has organized a Sri Lanka pavilion at “PRODUCTRONICA 2019” from 12th – 15th November 2019 at MESSE MÜNCHEN, Germany with the assistance of Embassy of Sri Lanka in Germany and Consulate General of Sri Lanka in Frankfurt.
Sri Lanka Prosperity Index (SLPI), increased to 0.783 in 2018 from 0.548 recorded in 2017. All three sub-indices of SLPI, namely ‘Economy and Business Climate’, ‘Well-being of the People’ and ‘Socio-Economic Infrastructure’ contributed to this increase.
Manufacturing PMI increased to 57.6 index value in October 2019 mainly due to increase in Production and New Orders compared to September 2019.
Central Banks says In September 2019 (year-on-year), the trade deficit increased, with the fall in export earnings exceeding the decrease in import spending.
The following commentary relates to the interim non-audited financial statements for the nine months ended 30 September 2019, presented in accordance with Sri Lanka Accounting Standard 34 (LKAS 34) on “Interim Financial Statements”.
The Nuwara Eliya Golf Club (NEGC), one of the oldest golf clubs in Asia, recently appointed the Commercial Bank of Ceylon as its Internet Payment Gateway (IPG) service provider.
Sri Lanka Tourism took part at the International Media Market place (IMM) Asia held in Macao, China, from 21st to 22nd October 2019, by partnering with Macao Tourism and many regional tourism bodies.
Sri Lanka Tourism Promotion Bureau in collaboration with the Sri Lanka High Commission in Ottawa participated at the International Tourism and Travel Show which took place at the Place Bonaventure in Montreal
Financial News from Sri Lanka: Hatton National Bank PLC (HNB) posted a profit after tax (PAT) of Rs 8.0 Bn for
The third edition of Sri Lanka’s only capital market quiz - CSE masterminds organized by the Colombo Stock Exchange (CSE) was recently held at the Waters Edge Hotel with NDB Investment Banking group emerging as the winner of the overall competition.
Understanding and anticipating customer needs, Sri Lanka’s largest private sector Bank, HNB PLc opened its doors to its newest customer-centric, business unit at the most prestigious address in town - One Galle Face shopping mall.
The Chartered Institute of Logistics and Transport (CILT) recently rang the Opening Bell to commence trading at the Colombo Stock Exchange (CSE) to mark the organization’s centenary year.
Sri Lanka’s geographical locational advantage between Singapore and the Middle East, and the availability of a new deep-water Port in Hambantota make the island an optimum location for establishing export oriented Petroleum and other commodity processing facilities.
Costa Victoria, the Victoria class cruise ship operated by Italian Cruise company Costa Criciere, Europes, which is a leading cruise company in Venice,
‘’LOT’’ Polish Airlines, a modern airline connecting Central and Eastern Europe, made its inaugural flight to Sri Lanka from Warsaw to Colombo on 4th November 2019. The new aircraft received the traditional water cannon salute on its landing, which was one of the special occasions to be seen in the field of Airport & Aviation.
Sri Lanka Tourism Promotion Bureau was able to further spread the message to the world regarding Sri Lanka ‘s unique potential as a travel destination, by bringing down the Italian based female Travel Blogger, Claudia Tavani, under SLTPB ‘s Travel Blogger & Influencer program.
The world’s leading travel and trade show opened in London, UK on 4th November 2019 on a grand scale. This year Sri Lanka Tourism Promotion Bureau (SLTPB) collaborated with WTM to be the ‘Premier Partner’ of the event.
The Commercial Bank of Ceylon has commissioned a state-of-the-art Automated Banking Centre (ABC)at the One Galle Face mall, offering visitors 24-hour access to the Bank’s services.
Nations Trust Bank is supporting the Wildlife and Nature Protection Society to host an exciting event titled “Chat with Saba”. The event will feature a lively discussion on elephants and elephant conservation with Saba Douglas-Hamilton, the world famous conservationist, wildlife presenter and award-winning wildlife filmmaker.
Nations Trust Bank American Express Partners With “Sri Lankan Art 2019” For The 9th Consecutive Year »
Nations Trust Bank American Express partnered with the George Keyt Foundation for the 9th consecutive year to host “Sri Lankan Art 2019”; an exhibition and sale of contemporary Sri Lankan art. Through this partnership,