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Apple criticized for sending some browsing data to Tencent

Bloomberg – Apple Inc. came under fire on Monday for sending web browsing data, including IP addresses, to China’s Tencent Holdings Ltd., the latest criticism of how the company operates in the world’s most populous nation. For about two years, Apple has been sending data to Tencent as part of an iPhone and iPad security feature that warns…

(0) Comments | October 15, 2019 3:44 pm

Featured

George Steuarts launches James Coffee to delight coffee lovers

George Steuart Consumer recently launched their latest addition to the fast moving consumer goods (FMCG) basket “James Coffee” in 20g and 50g packaging. James Coffee will be made available across the island initially in general trade outlets and supermarket chains will follow in the near future. Coffee was the main export commodity in Ceylon in…

(0) Comments | October 14, 2019 10:13 am

SLT fibre to power 3 newest apartment complexes of Rasika Holdings Colombo

Sri Lanka Telecom (SLT), the leading ICT and digital solutions provider in the nation, entered into an agreement with Rasika Holdings (Pvt) Ltd, a prominent and leading property developing company approved by Board of Investment (BOI) of Sri Lanka, to be the Digital Solutions Provider for the company’s latest luxury apartment complexes, in Colombo 06….

(0) Comments | October 14, 2019 10:11 am

CA Sri Lanka’s 40th National Conference to revitalize confidence, restore spark among Chartered Accountants

In a world engulfed in corporate world stress and everyday monotony, professionals including Chartered Accountants feel depleted, which stops them from being goal-oriented strategists with the power to drive businesses forward. To counter this drift, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), will take the lead at the 40th National Conference…

(0) Comments | October 11, 2019 5:03 pm

Sampath Bank adjudged ‘Most Innovative Bank of the Year’ at Technovation Awards 2019

Standing testimony to its outstanding contribution to technological innovation in Sri Lanka, Sampath Bank once again made history by clinching the highest number of awards at the recently concluded LankaPay Technovation Awards 2019. Sampath Bank was adjudged the ‘Most Innovative Bank of the Year’ and the ‘Overall Winner for Excellence in Interbank Payments’ (Banking Category)…

(0) Comments | October 10, 2019 8:22 pm

Munchee celebrates World Children’s Day with a creative twist

Munchee, the flagship brand of Ceylon Biscuit Limited celebrated World Children’s Day 2019 in a new and innovative way by organizing some exciting activities for kids including the launch of a special story book. The company organized a number of events across the island to celebrate this day and the main event and launch of…

(0) Comments | October 10, 2019 4:05 pm

Dialog Enterprise Rotary Metro Par 3 Golf Classic 2019

The Rotary Club of Colombo Metropolitan in partnership Dialog Enterprise, the corporate solutions arm of Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, presents the Par 3 Golf Classic for the 2nd consecutive year, set to be held on October 26th 2019. This year’s event promises to be a day of competitive golf for the members…

(0) Comments | October 10, 2019 2:55 pm

Hutch Launches ‘Super 340’ Bundle Pack

Hutch Sri Lanka, one of the leading mobile telecommunication providers in the country introduced the “Hutch Super 340,” a bundle pack designed to cater to smartphone users who look for the convenience of purchasing and managing their mobile communication needs from a single monthly payment befitting their budget. What makes this product strikingly convenient is…

(0) Comments | October 10, 2019 2:46 pm

VMware Partners with SLT to Drive Cloud Adoption and Spur Next-Gen Innovation for Enterprises

VMware, Inc. (NYSE: VMW), a leading innovator in enterprise software, has signed an agreement withSri Lanka Telecom (SLT), one of the leading information and communications technologysolutions providers in Sri Lanka, to drive cloud adoptionand accelerate digital transformation journeys for Sri Lankanenterprises. The new partnershipis part of the VMware Cloud Provider Program, which enables SLT to…

(0) Comments | October 10, 2019 2:38 pm

Pearson Tech Summit set to Ignite, Inspire and Transform local IT industry

Pearson Lanka officially announced the launch of ‘Pearson Tech Summit’, a high-powered conference featuring many local and international speakers from the Information Technology space. Themed ‘’ignite. inspire. transform”, the tech summit will attract more than 1,000 IT professionals, academics and undergraduates under one roof in a bid to refresh and enhance the knowledge of the…

(0) Comments | October 10, 2019 2:36 pm

IIT Celebrates 30 Years of Excellence at the Annual Convocation 2019

Informatics Institute of Technology (IIT), the pioneer in British higher education in Sri Lanka and the country’s premier IT and Business campus, celebrated its 30th anniversary this year, consequently hosting its annual convocation at the BMICH recently. The Chief Guest for the event was Dr. Peter Bonfield OBE – Vice-Chancellor and President of the University…

(0) Comments | October 10, 2019 2:33 pm

Top News

Iconic Sri Lankan Cricketers Mahela and Kumar – Brand Ambassadors for Expo 2020 Dubai

Mahela Jayawardena and Kumar Sangakkara – two of the most iconic cricketers produced by the country has come on board as Sri Lanka’s Brand Ambassadors for Expo 2020 Dubai organized by the Sri Lanka Export Development Board (EDB) as a public private cooperation project . Both Mahela and Kumar, outstanding cricketers having captained the Sri…

(0) Comments | October 15, 2019 2:51 pm

US$285mn outflow from government securities in first 8 months

Foreign investments in government securities recorded a net outflow of US $156 million in August 2019. On a cumulative basis, net outflows from the government securities market amounted to US $285 million during the first eight months of the year. Foreign investments in the CSE, including primary and secondary market transactions, recorded a net outflow…

(0) Comments | October 15, 2019 2:24 pm

WB forecasts 2.7% growth for Sri Lanka this year

The World Bank yesterday(14) revealed that Sri Lanka’s economic growth is expected to soften to 2.7% in 2019. However, supported by recovering investment and exports, as the security challenges and political uncertainty of last year dissipate, it is projected to reach 3.3 % in 2020 and 3.7 % in 2021. In its latest edition of the…

(0) Comments | October 15, 2019 11:20 am

Sri Lanka tourism earnings reach US$2.3bn in first 8 months

Sri Lanka’s tourism sector earnings were estimated at US $2,380 million during the first eight months of 2019 compared to US $2,971 million during the corresponding period of 2018,  latest External Sector Performance report of the Central Bank of Sri Lanka outlines. Earnings from tourism were estimated at US $ 270 million in August 2019,…

(0) Comments | October 15, 2019 11:00 am

Trade deficit contracts in August 2019 as imports decline and exports recover

According to the latest external trade data released by the Central Bank, country’s trade deficit had contracted in August 2019 as the decline in imports continued while the dip in exports in the previous month has largely recovered. Import expenditure recorded a decline of 16.6% (year-on-year) and export earnings declined fractionally by 0.4% (year-on-year) in…

(0) Comments | October 15, 2019 10:12 am

Sri Lanka stocks hit near 6-week high; rupee weakens

(Reuters) – ** Sri Lankan stocks rose for the seventh straight session on Monday to hit a near six-week high as beverage and banking shares rallied. However, the rupee ended weaker. ** The benchmark stock index ended 0.61% firmer at 5,870.09, its highest close since Sept. 3. So far this year, the index has dropped…

(0) Comments | October 15, 2019 9:41 am

India’s Alliance Air to launch direct flights from Chennai to Jaffna this week

Alliance Air, a subsidiary of Air India, is getting ready to launch direct flights from the northern Sri Lankan city to Chennai and Tiruchi. The new service is set to be launched this week, with a test flight from Chennai to Jaffna scheduled on Thursday, October 17. It will likely run three flights a week…

(0) Comments | October 14, 2019 5:01 pm

New banking act permits regulator to impose fines – CBSL governor

Sri Lanka’s banking sector should start preparing for the anticipated transformation of the current banking industry landscape as the new Banking Act is set to come into effect with the regulator gaining power to impose fines on errant banks. “We are in the process of reviewing the current banking act and there are number of amendments…

(0) Comments | October 14, 2019 2:09 pm
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Analysis

Previous rate cuts portends no further policy actions for 2019

Pre-Policy Analysis – First Capital Research Oct 2019   Previous Pre-Policy report; CBSL reduces its policy rates by 50 bps Contrary to our expectation, CBSL, decided to reduce SDFR and SLFR by 50bps each to 7.00% and 8.00% respectively, one policy meeting ahead of our forecast, with the aim of boosting credit flows to productive sectors…

(0) Comments | October 8, 2019 1:44 pm

The various facets of the Insurance industry

By Chandana Aluthgama: With the conclusion of Insurance Awareness Month Mr. Chandana Aluthgama, the Treasurer of the Insurance Association of Sri Lanka, one of the leading bodies behind the organization of the events, programs and activations that make up the month of September, discussed his views on several aspects of the industry including penetration, value,…

(0) Comments | October 3, 2019 9:58 pm

Business sentiment – Hanging in the balance!

Biz confidence dips marginally with election preparations kicking into high gear The tallest tower in South Asia (a.k.a. Lotus Tower) was ceremonially opened in Colombo on 16 September, following a delay of four years from its expected launch date. While representing a milestone for Sri Lanka, it has since been marred by allegations of large-scale…

(0) Comments | October 1, 2019 11:08 am
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