Deutsche Bank announced it is investing in Sri Lanka and launching a major push into the corporate client market, with the rollout of a new digitally-enhanced foreign exchange (FX) platform.
Ceylon Chamber identifies Afghanistan as a potential market to further expand business with Sri Lanka »
“I am very grateful to H.E. the President Gotabaya Rajapaksa and the Hon. Prime Minister Mahinda Rajapaksa for their deep interest in elevating Afghanistan - Sri Lankan bilateral ties and further enhancing our two countries’ cooperation within the South Asian Association for Regional Cooperation (SAARC),
The Sri Lanka Export Development Board (EDB) is on a call for applications from companies with cutting-edge technologies to join its delegation to Japan IT Week 2020 from 8-10 April.
The Export Development Board has taken an initiative to enhance the efficiency and effectiveness of EDB Services delivering satisfaction to all customers. The Exporters, Entrepreneurs and public alike will be assisted through the Help Desk on support services and necessary guidance on other related Institutions.
The Sri Lanka Tourism Promotion Bureau (SLTPB) in partnership with the Embassy of Sri Lanka in Sweden arranged the participation of Sri Lankan Destination Management Companies (DMCs) at Tourest 2020 in Tallin, Estonia on 7-9 February.
The Consulate General of Sri Lanka in Frankfurt assisted the Export Development Board in organizing the Sri Lanka Pavilion at the World´s Leading Trade Fair for ‘Organic Food and Natural Beauty’ – BIOFACH 2020 in Nuremberg, Germany from 12 to 15 February 2020.
Fitch Ratings has affirmed Siyapatha Finance PLC’s National Long-Term Rating of ‘A-(lka)’. The Outlook is Stable. The agency has also affirmed the National Long-Term Rating on Siyapatha’s senior unsecured debentures at ‘A-(lka)’ and subordinated debentures at ‘BBB+(lka)’.
Fitch Ratings has affirmed Singer Finance (Lanka) PLC’s (SFL) National LongTerm Rating at ‘BBB(lka)’. The Outlook is Stable. A full list of rating actions is at the end of this commentary.
Fitch Ratings has assigned DFCC Bank Plc’s (DFCC, AA-(lka)/Negative) proposed Sri Lanka rupee-denominated Basel III-compliant subordinated debentures an expected National Long-Term Rating of ‘A+(EXP)(lka)’.
With a renewed focus on empowering their employees to become product consultants to a growing global clientele, software product engineering specialist 99X Technology engaged Tarigo Consulting, UK to conduct Product Management workshops to drive their next wave of growth.
Standard Chartered has been the Official Main Partner of Liverpool FC (LFC) since 2010 and this year marks the 10th anniversary of the longstanding partnership.
NDB Becomes the Official Team Sponsor of Trinity Rugby 2020 as well as the Official Sponsor for the 76th Bradby Shield »
NDB Bank recently joined hands with Trinity College, Kandy for the first time as the official sponsor of Trinity Rugby 2020 as well as the official sponsor for the 76th Bradby Shield. Trinity College, Kandy has a rich and proud history in Rugby. Trinity took up Rugby in 1906 and is the only School to continue playing rugby to date.
Coca-Cola rehabilitates two water reservoirs to open floodgates for economic and social empowerment »
Restoring the marvel of ancient engineering in Sri Lanka, Coca-Cola Beverages Sri Lanka Ltd. (CCBSL) with the funding support of The Coca-Cola Foundation, and under its commitment to water stewardship, took the lead to rejuvenate two key water reservoirs in the marginalized village of Thammanawa in Anuradhapura.
Sarvodaya-Fusion partners with Open University of Sri Lanka and NIBM to offer advanced ICT education to rural children »
In line with its mission to offer valuable Information and Communication Technology (ICT) education opportunities to rural youth, Sarvodaya-Fusion recently partnered with the Open University of Sri Lanka (OUSL) and National Institute of Business Management (NIBM) to facilitate advanced ICT learning opportunities to students across the island.
As the bank with a heart, driven with a strong desire towards progressive knowledge sharing and transformation, Seylan Bank recently concluded “Divunuwata Saviyak”, a knowledge-sharing workshop for potential entrepreneurs interested in the export sector. The event was held at the Full Moon Garden Hotel in Katunayake recently.
Singer, country’s premier consumer durables retailer recently partnered with cake specialist, Dushanthi Madanayake in an attempt to provide an all-new user experience for food enthusiasts who are passionate about baking products and equipment.
HNB Assurance PLC (HNBA) announced its qualifiers for the upcoming prestigious Million Dollar Round Table Conference (MDRT) in the United States of America. The Company has produced its highest number of MDRT qualifiers of 75, including 3 Court of the Table (COT) qualifiers and 1 Top of the Table qualifier (TOT). This is the highest number of MDRT and COT achievers the Company has produced.
CIPM Sri Lanka – the Nation’s leader in human resource management hosted the President of the Civil Service Commission of Maldives (CSC) – Dr. Aly Shameem (PhD) and Ms. Maryam Saaniga Rasheedh – Second Secretary of the Maldivian High Commission in Colombo for a discussion on the capabilities of CIPM Sri Lanka in assisting the CSC in building capacity to fulfill its future endeavors and objectives.
HMD Global, the home of Nokia phones, announces the Nokia C1 availability in Sri Lanka, a smartphone designed to entertain – anytime, anywhere. Nokia C1 featurs an impressive 5.45" display and with lighter apps and less bloatware,
Pan Asia Bank, recently introduced yet another novel concept internally to enhance employee engagement coinciding with the Valentine’s Day.
The Embassy of Sri Lanka in Manila, in cooperation with the Sri Lanka Tourism Promotion Bureau (SLTPB), organized a tourism promotion and high-level networking session themed “So Sri Lanka: The Resplendent Island” on 5 February 2020 at Shangri-La Makati. The event was held in line with the SLTPB’s participation at the PTAA Travel Tour Expo 2020.
Sri Lanka Food Festival 2020, Turkey concluded in a high note in Ankara and historic city of Istanbul. The Embassy of Sri Lanka, Ankara coinciding with the 72nd Anniversary of Independence of Sri Lanka in collaboration with the Hilton hotel Colombo, Qatar Airways, Swiss Hotel in Ankara, Hotel Anemon Galata, Istanbul and Beta Tea House, Istanbul organized Sri Lanka Food Festival 2020 Ankara segment from 04-05 February and Istanbul segment from 08 -10 February.
Earnings from exports declined while expenditure on imports increased during December 2019, widening the trade deficit. During the year 2019, the trade deficit contracted significantly, driven by a sharp contraction in import expenditure.
Siyapatha Finance PLC, being the first finance company to join the National Card Scheme of Lanka Clear, launched the JCB/LankaPay/Siyapatha Dual Interface Debit Card (Siyapatha Card) on Wednesday 12th February 2020.
With the coronavirus epidemic becoming a serious cause for concern, the Hambantota International Port (HIP) has put in place several measures to ensure the safety of their staff, environment, and the general public.
Paragon Holdings, specialising in outdoor advertising, TV & Radio advertising production, event management, and digital marketing announced the launch of their augmented reality application through Sri Lanka Augmented Reality (SLAR), recently in Colombo.
Aitken Spence Travels the leading destination management company in Sri Lanka has been awarded the Travelife Certified sustainability award. The Travelife Certified award is recognition for the company’s long-term efforts and leading position regarding sustainability and corporate social responsibility.
Dialog Axiata PLC, Sri Lanka’s premier connectivity provider and the only 4G VoLTE and VoWiFi mobile network, authorised reseller and partner network for Apple devices, launched the highly anticipated Apple Watch Series 5 in Sri Lanka on 7th February 2020.
IMI Games, Sri Lanka’s premier online gaming platform by Arimac Digital has partnered with Sri Lanka’s first-ever home grown Pizza brand, Harpo’s Pizza & Pasta to launch their brand-oriented gamification project, ‘Harpo’s Pizza Rush’on IMI games platform.
Dwaraka, a pure vegetarian spot for authentic North and South Indian flavors opened their second restaurant at Old Quarry Road, Mount Lavinia recently. The fully air conditioned restaurant has a spacious dining area that comfortably accommodates 100 persons with all modern facilities.
Cementing its presence as the most preferred mobile service provider among youth, Airtel Lanka recently announced ‘Data Double, Awasi Double’ the telco’s latest package which provides double data benefits. The new offer aims to provide users with maximum value by delivering 100% extra data on Rs. 99 recharges via the ‘My Airtel’ App.
The Commercial Bank of Ceylon has announced it will keep 70 branches open for business on Friday, 21st February, a Public and Bank holiday to mark the celebration of Mahasivarathri.
Classic Travel and FlySmiLes encouraging all to fly more – • FlySmiLes members can earn a free mile on the membership program for every LKR 100 spent at Classic Travel »
Classic Travel, a subsidiary of Expolanka Holdings PLC, will be the first travel agency to partner with SriLankan Airlines. The company will join a large network of international and local partners that offer the airlines’ passengers benefits and rewards on their FlySmiLes membership.
Commercial Bank of Ceylon Chairman Mr Dharma Dheerasinghe was the Chief Guest and keynote speaker at ‘New Horizons’ – a special programme organised by the Kuwait Chapter of Sri Lankan Chartered Accountants to promote Sri Lanka as a land of opportunities.
The Bank of Ceylon felicitated two thousand Grade 5 scholarship highflyers of 2019 recently with a scholarship worth Rs.15,000/- each, encouraging students to pursue their education diligently.
In appreciation of the significant contribution of women towards enriching the many lives around them, Amãna Bank has once again launched its “Ladies Shopping Bonanza” promotion for its Ladies Savings Debit Card holders.
Corporate trailblazer, Chairman of Greener Water Limited Dhammika Perera (Fully owned subsidiary of Vallibel One PLC) and Chairman of Summer Season Limited Mohan Pandithage signed two groundbreaking MOUs to establish global luxury brands JW Marriott & Ritz Carlton in Sri Lanka.
Teejay Lanka PLC has reported profit before tax of Rs 2.364 billion at Group level for the nine months ending December 31, 2019, an improvement of 56% over the corresponding period of the previous year.
With effect from 1st February 2020, Hajar Alafifi assumed duties as Chairperson of Unilever Sri Lanka and joins the Unilever South Asia Leadership Team. Taking the helm from her predecessor, Carl Cruz who has been appointed as Managing Director, Unilever West Africa Multi Country Operation (MCO) – Ghana and Nigeria.
Sri Lanka Insurance relocates the Gampaha branch providing total insurance solutions with a hassle free customer experience for the customers in the area.
Everyone aspires to live a long healthy life and as we go on this journey, we do everything we can to ensure our families are happy. But things don’t always go as planned and unwelcomed things can happen. That is why having a life insurance plan is important, so that even in unfortunate times, your family can remain financially secure.
AkzoNobel Sri Lanka kicks off Let’s Colour initiative with a successful event at SOS Children’s Village in Monaragala »
AkzoNobel Paints recently kicked-off its activity in Sri Lanka as part of its partnership with SOS Children’s Villages, where employees volunteered to visit the SOS Village in Monaragala for a fun-filled day which involved the painting of an entire family home, the donation of paint for the rest of the Village, as well as enjoyable activities for the children.
Boat Building is a focused sector identified in the National Export Strategy (NES) 2018-2020 as it has the potential to contribute markedly to the foreign exchange earnings of the country.
Aitken Spence PLC remained resilient during a difficult period through its diversity of investments in eight countries, thereby recording favourable results for the nine months ended December 2019.
HNB Finance Limited, a licensed finance company has obtained approval from the Colombo Stock Exchange to list its voting and non-voting ordinary shares.
Union Bank announced the re-launch of latest Union Bank BizDirect+ proposition which is enhanced with new features for better performance and convenience of clients.
Special prayers were offered at the Dewatagaha Mosque at C. W. W. Kannangara Mawatha, Colombo 7 recently to mark the 100th anniversary of the Commercial Bank of Ceylon.
The focus of the centenary celebrations of the Commercial Bank of Ceylon moved to Kandy recently when the Bank engaged in a tree planting project in the hill country capital to mark the milestone.
Sri Lanka’s No. 1 bank, BOC recently joined hands with Sri Lanka’s National Mobile Service Provider, Mobitel, to deliver convenience to Mobitel customers in making digital payments through QR (quick response) code based payment solution, SmartPay.
Dreams of culinary glory on the world stage took wing on Emirates to Germany this week, when the stars of Sri Lankan chefdom departed for the 2020 Culinary Olympics with the support and blessings of the world’s leading international airline.
The global trading environment is evolving rapidly with numerous developments in global production networks and global value chains. These developments are a result of product fragmentation; cross boarder dispersion of components and production/assembly.
The inspiration for its name may be rooted in mythology, but Kia’s Seltos SUV wowed the audience with its very real looks and muscle at a grand Colombo preview befitting the debut of a new automotive deity from the pantheon of the Korean car maker.
SriLankan Airlines flew the West Indies cricket team into Colombo yesterday for its tour of Sri Lanka. The 25-member squad flew in from London on two flights, enjoying the comforts of the national carrier’s Business Class cabin.
NDTV’s Coverage of Colombo Fashion Week as part of Celebrate Colombo wins Indian Television Academy Award »
NDTV’s coverage of Colombo Fashion Week as part of showcasing fashion during the creative festival, Celebrate Colombo by So Sri Lanka has won at the prestigious Indian Television Academy Awards, making it a milestone win for NDTV.
On the 06th of February 2020 DSI announced the launch of the 20th DSI Supersport Schools Volleyball Championship at a press conference held at Hotel Nippon, Colombo.
Hindu religious observances including Abhisheka poojas were conducted at Sri Kailasanathar Devasthanam, Maradana in February, to invoke blessings on the country as well as on the customers and staff of the Commercial Bank of Ceylon and their families as part of the Bank’s celebration of its 100th anniversary.
Land has been a commodity that has been looked upon as an investment for generations. The general understanding is to obtain land for housing or commercial purposes. However, land purely as a tool of investment has increasingly become an area of interest.
MillenniumIT ESP – one of Sri Lanka’s leading Systems Integrator and Information Systems Provider – recently announced that it has successfully implemented the Oracle ERP Cloud platform for HNB Assurance (HNBA), a leading insurance service provider in Sri Lanka.
What’s Shaping the Outlook for 2020? The Ceylon Chamber’s Outlook 2020 Report Explores the Year Ahead »
The Ceylon Chamber of Commerce launched its annual Outlook Report for 2020, at the Economy + Sector Review and Outlook 2020 event on Monday (10th).
BMICH – Sri Lanka’s iconic landmark and South Asia’s Leading Convention & Exhibition Centre has been selected to be conferred with the title of a “Global Best Employer Brand” award in the MICE (Meetings, Incentives, Conferences & Exhibitions) category in the Asian Sector.
AIA Sri Lanka recently wrapped up the AIA Healthy Cook-Off for employees, a first of its kind at AIA Sri Lanka. This was a ‘healthy cooking competition’ that was part of the larger ‘Little Changes Challenge’ (LCC) launched by AIA to encourage people to make little changes that can make a big difference.
Cargills Bank recently announced the launch of its newly crafted fixed-deposit scheme tailored towards minors, with an aim to encourage and inculcate the habit of long-term savings among children, as well as adults.
Fitch Ratings has affirmed Continental Insurance Lanka Limited's (CILL) National Insurer Financial Strength (IFS) Rating at 'A(lka)'. The Outlook is Stable. The affirmation reflects CILL's moderate business profile, satisfactory financial performance and capital position, as well as its prudent investment mix.
ESOFT Metro Campus, Sri Lanka’s largest private-sector higher education network with over 40 branches across the island creating opportunities for over 35,000 students annually, announced that it now offers complete three-year degree programmes through its partnership with the prestigious Kingston University London.
Daraz is the leading e-commerce platform in Sri Lanka. After successfully achieving their goals for 2019, the outlook for 2020 is even more encouraging. Celebrating their 3rd anniversary last year, the brand’s key campaign – November’s 11.11 Sale.sale broke records. The rest of the Daraz ecosystem complemented the 11.11 surge, with popular pushes like Avurudu Waasi, Mobile Week and the Grand Christmas Sale.
Wedding Show 2020, an exclusive exhibition aimed at helping couples craft their picture-perfect wedding, will take place on the 14th, 15th and 16th of February 2020 at the BMICH, coinciding with the month of love.
Kickstarting the year 2020 in a winning spirit, Sri Lanka’s fastest-growing life insurer Softlogic Life announced that 104 members of their sales team have been qualified for the MDRT (Million Dollar Round Table) membership, the premier most form of international recognition bestowed upon insurance advisors in the world. The milestone sets a new record for Softlogic Life’s dynamic sales team as it leads the industry with the highest number of MDRT qualifiers in 2019. It is also the highest number of MDRT qualifiers produced by Softlogic Life in a single year.
The Central Environment Authority (CEA) recently awarded ODEL PLC Sri Lanka the ‘Melting Point Certification’ as a certified partner of its aluminum upcycling project. The latest project aims to increase awareness about environmental pollution and the importance of recycling through the production of handmade upcycled aluminum products available for sale at all ODEL outlets.
EFL 3PL expands logistics footprint with new state-of-the-art Fulfillment Center and Warehousing Complex in Kandana »
EFL 3PL, a member of the leading conglomerate Expolanka PLC, recently established a new, state-of-the-art Fulfillment Center in Kandana located at 370A, Nugape Junction, Uswetakeiyawa, Kandana, to complement its award-winning third-party logistics and digital supply chain management solutions.
Leading infrastructure developer, Iconic Developments marked the completion of the 21st floor of its latest high-end modern self-contained luxury living space, the Iconic Galaxy situated in Rajagiriya’s upscale locality.
Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, held the programme segment of Dialog Prashansa – Future Connect Forum, the first initiative of its kind in Sri Lanka, in an attempt to educate and empower senior citizens on digital technology and build confidence and competence among the community.
The Ceylon Dollar Bond Fund that invests exclusively in Sri Lankan government issued International Sovereign Bonds (ISB), and SLDBs reported a strong US$ performance of 10.3% in 2019 to investors, while the fund size reached US$ 23 million as at December 31, 2019, according to Ceylon Asset Management Managing Director, Dulindra Fernando. The January 2020 performance was 1.03% (annualised 12.18%).
Bank of Ceylon stretches 24 Hour Banking to Kalutara Police Training School and to Open University of Sri Lanka, Nawala »
Bank of Ceylon expanded its 24 hour banking services to Kalutara Police Training School and Open University of Sri Lanka- Nawala, recently. These strategic expansions took place with the aim of providing added convenience of banking to trainees/ students, staff members and to the general public in those areas.
Already earmarked the long weekends for 2020 and planning your getaways for the rest of the year? Are you looking to head to the hills for cooler climates? Perhaps a family reunion by a lagoon or a long overdue visit to Sigiriya? Or would you like to island hop amidst turquoise seas in the Maldives in April or indulge in a street food feast in Thailand in May?
Pan Asia Bank’s Rising Fixed Deposit – the unique two year FD 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.
Success of Union Bank. We will celebrate our transformational journey of growth with a series of events throughout the year, which was inaugurated with the religious ceremonies held recently. The future of Union Bank is exciting and we invite our stakeholders to benefit from the multi-dimensional growth of the Bank in the coming years.”
With a view to accelerating economic growth in the country and based on discussions held with the Hon. Prime Minister and the Minister of Finance, officials of the Office of the President, Office of the Prime Minister and Ministry of Finance,
A staff team from the International Monetary Fund (IMF) led by Manuela Goretti visited Colombo during January 29 – February 7, 2020 to meet with the new administration and discuss its policy agenda. At the conclusion of the staff visit, Ms. Goretti issued the following statement0
SriLankan Airlines is strengthening its presence in the U.S. and European markets through the expansion of its existing codeshare agreement with Qatar Airways, with additional connections to serve various cities in these regions.
The Colombo Stock Exchange (CSE) has organized a forum to discuss changes to the tax system which were recently announced by the Government. The forum, will be conducted by senior representatives of the Inland Revenue Department and PWC Sri Lanka, and will take place on 18 February 2020 from 08.30 a.m. to 01.00 p.m. at the Hilton Colombo Residences.
Softlogic Information Technologies conducts workshop on latest VMware solutions and cloud platforms »
Softlogic Information Technologies together with VMware organized a workshop on VMware virtualization and Application security recently at Mövenpick Hotel, Colombo. The event brought to light the latest solutions offered from VMware in managing computing space with security and infrastructure whilst creating awareness on VMware Cloud Foundation (VCF).
Nestlé Lanka has committed to making 100% of its packaging recyclable or reusable by 2025. Its vision is that none of its packaging, including plastics, ends up in landfill or as litter. Striving for a cleaner and greener nation, the Good Food Good Life company has launched a number of green initiatives, under its ‘Making My Sri Lanka More Sustainable’ campaign.
Hikka Tranz by Cinnamon (Hikka Tranz) together with the Marine Environmental Protection Authority (MEPA) and Plasticcycle - the Social Entrepreneurship project of John Keells Group, launched an initiative on the of January 30 to maintain a stretch of beach along the resort premises.
Commemorating the country’s 72nd Independence Day, Amãna Bank recently launched its Independence Day celebrations under the theme ‘Let us stand together under one flag towards enabling growth and enriching lives’.
A Mass of Thanksgiving was celebrated at the Infant Jesus Church, Colombo 2 recently as the second religious ceremony to mark the 100th anniversary of the Commercial Bank of Ceylon and its forerunners. The mass was conducted by Rt. Rev. Dr. J.D. Anthony Jayakody, Auxiliary Bishop of the Archdiocese of Colombo.
Consistently winning recognition and rewards for its visionary and progressive Human Resource (HR) strategies, DFCC Bank was recently recognized yet again as one of the ‘Top 20 Employers in Sri Lanka’ employing the highest number of Chartered Institute of Management Accountants (CIMA)Sri Lanka Members in their respective organizations.
Pan Asia Bank’s Rising Fixed Deposit – the unique two year FD 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.
ASICS India, a subsidiary of the Japanese sports performance brand has lined up an aggressive expansion plan to further grow its business with the launch of a new concept store at One Galle Face mall in Colombo, Sri Lanka, through the local footwear giant D. Samson & Sons (Pvt.) Ltd.
One of the most cumbersome tasks for parents during the infancy, toddler and pre-school stages is getting their kids to actually sit still and get themselves a haircut. How many of the funniest memories of childhood include a haircut gone completely wrong? An answer to this age-old problem comes from a parenting duo themselves who are hoping that the art they have mastered can be passed on to other parents as well.
The luxury condominium ‘447 Luna Tower’ is set to be completed in mid-2020, offering impeccable value to those seeking to purchase real estate in Colombo.
ACL Cables PLC, Sri Lanka's No.1 cable manufacturer unveiled its premium range cable brand, ACL Fire Zero to its dealer market at a function held on a grand scale at the Shangri-La Hotel Colombo recently.
Classic Travel, the IATA accredited subsidiary of Expolanka Holdings PLC, opened a new branch in the heart of Orion City—the one-stop-hub for innovation and collaboration—in a bid to extend its Travel & Visa services to IT professionals, entrepreneurs, and investors of high-tech companies. The branch is located at 716, Dr. Danister De Silva Mawatha, Colombo 9.
In a major step in its continual efforts to embrace sustainable farming practices across all layers of its operations, leading Sri Lankan poultry producer Crysbro successfully completed the installation of a mega solar power generation system at its Galgamuwa Farm.
Sri Lanka’s celebration of 72 years of independence from colonial rule has caught the attention of social media users, with Emirates taking to Facebook to greet the country and its people on 4th February 2020.
Sri Lanka’s pioneer in Vehicle Emission Testing, LAUGFS Eco Sri recently received the ISO/IEC 17020:2012 certification from the Sri Lanka Accreditation Board (SLAB). This particular certification is the internationally recognized measure of competence of various inspection bodies, and focuses on the impartiality, confidentiality and accuracy of the vehicle emission testing procedure.
Sri Lanka Telecom (SLT) the leading Digital Lifestyle Service Provider in Sri Lanka, comprises of a customer base over 1.6 million including multinational corporations, large and small corporates, public sector, retail and domestic customers.
Signing an agreement with the Board of Investment (BOI) of Sri Lanka, HCL Technologies (HCL), a leader in global technology announced the establishment of its global delivery center in Colombo. Marking its presence within the region, HCL aims at boosting employment, providing resources and skilling the local talent to serve its global clients.
The World Bank reaffirmed its continued support to Sri Lanka’s growth and development for the benefit of all its people, as World Bank Vice President for South Asia, Hartwig Schafer concluded a four-day visit.