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DFCC Group records a PAT of Rs.1.8bn for 1H 2020

Advances grew by LKR 19Bn to 292 Bn (7% growth) Deposits grew by LKR 30 Bn to 278 Bn (12% growth) DFCC Group recorded a PAT of LKR 1.8Bn for the first half of the year 2020 Impairment charge of 1.5Bn for the first half of the year 2020 Tier I Capital ratio of the…

(0) Comments | August 12, 2020 5:29 pm


‘Managed Maid’ by English Nursing Care to up-skill your domestic help to provide eldercare

English Nursing Care (ENC), a total solution in home nursing and elderly care, expands its service offerings with the introduction of a brand-new service called ‘Managed Maid.’ The service was developed with the objective of teaching domestic help the specialised skills of looking after the elderly and those that need special care. The ‘Managed Maid’…

(0) Comments | August 12, 2020 4:34 pm

Rakuten Viber launches new tools to fight spam on the platform

Viber now empowers users to filter messages automatically and decide who can add them to groups, among other privacy-preserving features Rakuten Viber, one of the world’s leading apps for free and easy communication, announces the launch of several tools to fight spam and ensure user privacy, as well as an option to search for other…

(0) Comments | August 12, 2020 4:33 pm

Ceylon Dollar Bond Fund gains on recovering Sovereign Bonds

~ Improving SL Economic Fundamentals offer one off profit opportunity  The Covid-19 financial crisis led to a crash in SL Sovereign Bond prices from $ 100 to an all-time low of $ 48.15 in May as investors ran to the safety of US treasuries exiting Asian bonds. The run was common to all Asian Bonds…

(0) Comments | August 12, 2020 2:16 pm

20 year old Avishka will receive Rs. 50,000 a month from Nestomalt SALARY for LIFE competition

Nestomalt has announced its first ever ‘SALARY for LIFE’ competition winner – Avishka Koswatte from Pilimathalawa. Only 20 years old, she will receive Rs. 50,000 every month from Nestomalt until she turns 55, subject to the competition’s terms and conditions. The campaign is the first of its kind in Sri Lanka, where Nestomalt aims to…

(0) Comments | August 12, 2020 2:11 pm

HNB partners with Browns Agriculture for offers on agricultural equipment

Sri Lanka’s leading private sector bank HNB PLC, partnered with Brown & Company PLC to offer affordable leasing packages inclusive of attractive benefits for agricultural vehicles in the SME sector. The partnership will offer customers special discounts and facilities for TAFE & Massey Ferguson tractors, Yanmar World & Sumo branded combine harvesters. HNB Head of…

(0) Comments | August 12, 2020 1:58 pm

Regional Development Bank accelerates digital impact with Oracle Cloud

~ Augmented analytics and conversational AI will bring new customer insight, helping the bank deepen relationship and trust with its customer base Regional Development Bank (RDB), the only 100% state-owned development bank in Sri Lanka, has gone live on Oracle Cloud Infrastructure This enables the bank to accelerate its digital presence across the country, and…

(0) Comments | August 12, 2020 1:53 pm

Tikiri Toys wins distinguished Most Ethical Gift award at NEC Spring Fair UK

Tikiri Toys – the hugely successful Sri Lankan brand of natural play products – has been awarded the prestigious ‘Ethical Gift of the Year’ title at the recently held NEC Spring Fair Birmingham 2020. DSL Lanka (Pvt) Ltd., manufacturer of the locally-designed and produced toys that have captured the hearts of toddlers and infants the…

(0) Comments | August 12, 2020 12:00 pm

HSBC Sri Lanka named International Retail Bank of the Year for the fourth time

HSBC has been named the International Retail Bank of the Year in the Asian Banking & Finance Retail Banking Awards 2020. This is the fourth time HSBC Sri Lanka has won the award, since 2016. In the 15th year of awards, over a hundred exceptional banks from 30 countries were recognised for providing the best…

(0) Comments | August 12, 2020 11:30 am

Sunshine Consumer extends its portfolio beyond tea with the acquisition of Daintee Limited

Consumer sector of the Sri Lankan conglomerate Sunshine Holdings (CSE: SUN), has completed its acquisition of a leading Sri Lankan confectionery company Daintee Limited, adding several prestigious brands to its portfolio, including Daintee, Milady and Bensons. The transaction was valued at Rs. 1.7 billion. This move comes at a time where Sunshine as a Group…

(0) Comments | August 11, 2020 5:57 pm

Iconic Galaxy reimagines digital presence with virtual tour and improved functionality

Leading infrastructure developer Iconic Developments relaunched the website for its ongoing project in Rajagiriya, the Iconic Galaxy inclusive of a 360 virtual walkthrough and dynamic customer service portal for prospective buyers. The redesigned site features a sleek, modern interface with improved functionality and easy access to essential information for potential buyers to make well-informed decisions….

(0) Comments | August 11, 2020 5:51 pm

Top News

List of institutions brought under the purview of Finance Ministry

Prime Minister Mahinda Rajapaksa has been appointed as the new Finance Minister of Sri Lanka. This time two-state ministries were appointed under the Finance Ministry. They are the State Minister for Finance, Capital Market and State Enterprise Reforms, and the State Minister for Samurdhi, Micro Finance, Self Employment & Business Development and Under-utilized State Resource…

(0) Comments | August 12, 2020 5:12 pm

COVID-19 to accelerate supply chain shifts in fragmented trade system: Moody’s

The coronavirus pandemic will likely accelerate fundamental shifts in trade relationships globally and particularly in Asia, Moody’s Investors Service has said. Ensuring supply security by enhancing the strength of supply chains will become an overarching objective of governments and companies, overtaking cost and efficiency considerations, it said in a sector in-depth report. Asian countries ex-China…

(0) Comments | August 12, 2020 1:33 pm

Cabraal sworn in as State Minister for Finance, Capital Market & State Enterprise Restructure

Former Governor of the Central Bank of Sri Lanka (CBSL) Ajith Nivard Cabraal was sworn in as the new state minister for Finance, Capital Market, and State Enterprise Reforms. The swearing-in ceremony of new Cabinet of Ministers and State Ministers commenced a short while ago, under the patronage of President Gotabaya Rajapaksa. The new ministerial structure…

(0) Comments | August 12, 2020 11:14 am

SLT Group’s Operating Profit soared by 55% in First-Half 2020, despite Covid-19 Pandemic

Sri Lanka Telecom PLC (SLT) Group released its financial results for the first-half of 2020 recording a remarkable 55% YoY growth in its Operating Profits to Rs. 6.9 Bn, amidst the many challenges caused by Covid-19 pandemic. The Group revenue reached Rs. 44.1 Bn during the first six months of 2020 demonstrating a moderate growth…

(0) Comments | August 12, 2020 10:15 am

The CSE expresses confidence in the strong mandate for a pro-growth Government

The Board of Directors of the Colombo Stock Exchange (CSE) congratulates the new Government led by His Excellency President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa on receiving a convincing mandate at the recently concluded General Election. The CSE welcomes the decisive expression of support for the new Government by the Sri Lankan people and…

(0) Comments | August 11, 2020 3:36 pm

Sri Lanka in talks with Myanmar on establishing direct air connectivity

The Ambassador-designate of Sri Lanka to Myanmar has held a meeting with the top management of Myanmar Airways International on establishing direct air connectivity between the two countries, the Foreign Ministry said in a media release recently. Ambassador-designate of Sri Lanka to Myanmar Dr. Nalin de Silva held a meeting with the top management of the…

(0) Comments | August 11, 2020 3:25 pm

Garment workers seen losing up to $5.8 billion in wages during coronavirus

LONDON/DHAKA (Thomson Reuters Foundation) – Garment workers supplying global fashion brands have been underpaid or not paid at all during the coronavirus crisis, with lost wages potentially amounting to nearly $6 billion, researchers said on Monday. With the pandemic leading to store closures and falling sales, many retailers cancelled orders or demanded discounts from suppliers,…

(0) Comments | August 11, 2020 1:58 pm

All-inclusive Sri Lanka Tourism app now ready

Sri Lanka Tourism is happy to confirm that the all-inclusive Sri Lanka Tourism app is now ready and awaiting authorization from the Immigration and Emigration Department to be linked with the online visa process. “We have now prepared the Cabinet paper required for the app to be authorized along with the online visa procedure. It…

(0) Comments | August 11, 2020 1:55 pm
More Featured News


Thumbs up for economy- Business people maintain sense of positive about economy as they open for biz

( LMD) Five years to July 2020 – Positive sentiment in relation to the economy has been maintained from the previous month with 44% (versus 42% in June) of corporate executives consulted in the latest LMD-Nielsen Business Confidence Index (BCI) survey stating that the economy in general ‘will improve’ in the coming 12 months. A…

(0) Comments | July 31, 2020 10:14 am

Business Sentiment – Silver Lining amid the Gloom

Business confidence seems to have regained its footing despite the challenges Sri Lanka’s manufacturing Purchasing Managers’ Index (PMI) improved to 67.3 in June, reflecting a month on month increase of 18 index points with the Central Bank of Sri Lanka attributing this to a “normalising of economic activities in the country following the complete relaxation…

(0) Comments | July 28, 2020 6:15 pm

Emerging signs of a revival – Biz confidence picks up with corporates planning to get back to doing business

Hot on the heels of a scathing review of the country’s monetary policy by President Gotabaya Rajapaksa on 16 June, in response to the COVID-19 crisis, the Central Bank of Sri Lanka announced a further reduction of the Statutory Reserve Ratio (SRR) applicable on all rupee deposit liabilities of licensed commercial banks (LCBs). This lowering…

(0) Comments | June 30, 2020 3:43 pm
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