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Central Bank intervened in foreign exchange market – CBSL Chief

Central bank of Sri Lanka intervened in the foreign exchange market in the last few days, Governor of CBSL Dr. Indrajit Coomaraswamy said whilst addressing the media in Colombo today (23). “Last three days or so we think the pressure that has been in the forex market is not align with the underline fundamentals. We…

(0) Comments | August 23, 2019 4:52 pm

Featured

Strategic Insurance continues its winning ways, now empowered by ‘Uniba Partners’

~ Inter Insurance Cricket Tourney a fixture in annual cricketing calendar The Inter Insurance Company Cricket Sixes and a Netball tournament gets underway this year on Saturday the 24th August, at the Mercantile Cricket Grounds, organized by the SLII under sponsorship of Strategic Insurance  Brokers — local insurance’s most trusted intermediaries. The Lakvinsure Cup is…

(0) Comments | August 23, 2019 10:15 pm

People’s Bank takes Palmtop Banking island-wide

Over a decade on since the launch of revolutionary services, People’s Bank is now implementing over 750 new Palmtop machines into service. Chiefly aimed at small and medium-sized enterprises and sole proprietors, the service affords customers the ability to make deposits, apply for loans, and make balance inquiries, all from the comfort of their home…

(0) Comments | August 23, 2019 2:32 pm

IIHS offersBSc. (Hons.) Nursing StudiesDegree from Coventry University, United Kingdom

Advancing its commitment to healthcare careers, the International Institute of Health Science (IIHS), Sri Lankan’s premier education institute began offering a new BSc Nursing Studies degree in collaboration with the renowned Coventry University (CU), UK, recently. Over the past 18 years, IIHS has been a pioneer in nursing education. Whilst being the premier International University…

(0) Comments | August 23, 2019 2:03 pm

SAP Positioned as a Leader in 2019 Gartner “Magic Quadrant for Data Integration Tools”

SAP SE (NYSE: SAP) today announced that for the 12th consecutive year, independent analyst firm Gartner Inc. has named SAP as a Leader in Gartner’s “Magic Quadrant for Data Integration Tools.”*After evaluating its data integration products, Gartner recognized SAP as a Leader based on its ability to execute and completeness of vision. According to Gartner: “The…

(0) Comments | August 23, 2019 12:17 pm

Prima KottuMee ‘Hot N Spicy Kricket’ promotion concludes on a high note

Prima KottuMee recently concluded the ‘Hot N Spicy Kricket’ promotion for the year 2019. This year the promotion was in play for not one, but two whole months in order to award the brand’s loyal customers. Beginning on the 1st of June and ending on the 31st of July, the promotion brought with it the…

(0) Comments | August 22, 2019 11:57 am

Prime Residencies fortifies portfolio with Prime Splendour and Prime Wrendale

Sri Lanka’s most prolific and trusted property developer, Prime Lands (Pvt) Ltd, strengthened its preeminent position within the industry when its distinguished subsidiary, Prime Residencies, sold out all the units within two of its newest condominium developments – Prime Splendour and Prime Wrendale. Both structures merge inimitable style with advanced engineering to deliver an unrivalled…

(0) Comments | August 22, 2019 11:48 am

HNB – AAC partner to offer motorists exclusive leasing facilities

Sri Lanka’s leading private sector bank, HNB PLC announced the launch of an exclusive partnership with the Automobile Association of Ceylon (AAC) to offer motorists special leasing packages inclusive of discounted annual and lifetime membership fee and a slew of other benefits over a limited time period. The promotion which is to last from June…

(0) Comments | August 22, 2019 11:44 am

Lanka Cricket Cavaliers Veterans Inter-Club Cricket ‘Sixes’ to commence on 24 August

7th edition of the tournament powered by The Access Group The 22nd anniversary of Lanka Cricket Cavaliers under the presidency of Tony Gunawardene will be marked with staging of the 7th edition of the Veterans Cricket ‘Sixes’ 2019 on August 24 at the Bloomfield C&AC Grounds, Reid Avenue. Powered by main sponsors, The Access Group,…

(0) Comments | August 22, 2019 11:30 am

Mobitel signs MoU with University of Sri Jayewardenepura to conduct collaborative research and development in the domain of next generation telecommunication networks and applications

The National Mobile Service Provider, Mobitel recently signed a landmark Memorandum of Understanding (MoU) with the University of Sri Jayewardenepura, to co-create and co-innovate in the area of telecommunication, 5G, Internet of Things (IoT), Artificial Intelligence (AI) and more – with both parties sharing their respective areas of expertise and knowledge towards the common goal…

(0) Comments | August 22, 2019 11:21 am

Simple steps, regular checks: Lessons from Healthy Life Clinic’s Diabetes Protocol

50% of hospital amputations caused by diabetes-related complications 1 in 10 Sri Lankan adults suffer from diabetes Small lifestyle changes can have the biggest impact A few simple and regular steps can make all the difference when it comes to preventative care and ensuring a decent quality of life for those afflicted by diabetes. Given…

(0) Comments | August 22, 2019 11:13 am

Top News

Bohra Convention to attract 25,000 tourists to Sri Lanka

Sri Lanka plans to welcome over 175,000 tourists this month, expecting a major boost from the mega Bohra Global Convention which is scheduled to be held from September 1 to 10 in Colombo. “The conference will bring as many as 25,000 tourists to Sri Lanka, from over 40 countries,” Tourism Development Minister John Amaratunga said…

(0) Comments | August 23, 2019 4:29 pm

Instagram bug could have allowed anyone to take over your account – By Paul Ducklin

As you would be aware, Laxman Muthiyah is the famous bug-hunter who uncovered not only a data deletion flaw but also a data disclosure bug on Facebook. The first bug meant he could have zapped all your photos without knowing your password. The second meant that he could have tricked you into installing an innocent-looking…

(0) Comments | August 23, 2019 2:49 pm

CBSL orders banks to reduce market lending rates

The Monetary Board of Sri Lanka’s Central Bank will impose appropriate caps on market lending rates of individual institutions or financial institutions, if the intended reduction in market lending rates is not realized within specific timelines. Sri Lanka’s Central Bank with the expectation of reducing all market lending rates in line with the reduction already…

(0) Comments | August 23, 2019 2:05 pm

CBSL Reduces its Policy Interest Rates

The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 22 August 2019, decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 50 basis points to 7.00 per cent and 8.00 per cent, respectively. The Board arrived at…

(0) Comments | August 23, 2019 10:05 am

Sri Lanka rupee falls for 4th session on foreign outflows

(Reuters) – The Sri Lankan rupee fell for the fourth straight session on Thursday, weighed down by foreign outflows from government securities and tracking other emerging currencies. Stocks closed steady. ** The rupee ended 0.36% weaker at 179.40/60 per dollar, compared with Wednesday’s close of 178.75/179.00, extending the loss in the last four sessions to…

(0) Comments | August 23, 2019 10:03 am

Discussions are ongoing to pay off two-third of the debt of SriLankan airlines under a re–financing system

Sri Lanka’s Public Private Partnership Agency is currently having discussions with china development bank to pay off two third of SriLankan airlines debt under a re–financing system and to take the burden off the national carrier. This was revealed by the PPP agency chairman Thilan Wijesinghe during the parliamentary committee on public enterprises which took place yesterday….

(0) Comments | August 23, 2019 8:04 am

High Powered Delegation from CILC visits Hambantota International Port

A delegation from the two day Colombo International Logistics Conference (CILC) held during the first week of August, visited the Hambantota International Port (HIP) recently. The high-ranking delegation representing several nationalities from across the globe, included Dr. Vincent Valentine, Transport Economist from UNCTAD UK, Dr. Andreia Theil, Head of Corporate Strategy, Port of Hamburg, Lutz…

(0) Comments | August 22, 2019 4:26 pm

Samurai bonds to maintain reserves around US $8 billion mark throughout 2019: First Capital

Sri Lanka’s First Capital Research believes that the raising of US $500 million via Samurai bonds is likely to support to maintain reserves around the US $8 billion mark throughout the rest of 2019. As per Governor of CBSL, the government will soon issue Request for Proposals to raise US $500 million via Samurai bonds, which may boost reserves…

(0) Comments | August 22, 2019 2:30 pm
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Analysis

Perceived Economic Opportunity PEO: First Quarter 2019

This brief report of the Perceived Economic Opportunity (PEO) presents the analysis of a random survey carried out using a random sample of 400 men and women covering all districts in Sri Lanka on their expectations of economic prospects in the ensuing twelve months of the year 2019.   STATUS OF JOB PROSPECTS OR BUSINESS…

(0) Comments | August 6, 2019 10:14 am

Businesspeople continue to wary about state of national economy post 4/21- survey

According to the latest monthly LMD-Nielsen Business Confidence index (BCI) survey, only 12% of respondents consulted by Nielsen, for LMD’s publisher Media Services, anticipate that the economy will improve in the next 12 months. Conversely, the majority view is that economic conditions will worsen. “Certain industries have been slow to pick up after April and…

(0) Comments | August 2, 2019 12:12 pm

Fears over country situation abate; a slightly more positive outlook unfolds: Survey

The latest LMD-Nielsen Business Confidence index (BCI) poll state that the economy will improve in the next 12 months, where as in May only 6% of respondents were as optimistic. “Many of the economic problems witnessed are because local companies don’t produce enough and due to high taxes,” States a survey respondent. While another remarks,…

(0) Comments | July 8, 2019 2:20 pm
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