Sethsiripaya Stage III, the third phase of the Government’s administration hub in Battaramulla, is a 25-storeyed modern office building with floor area of over 1.3 million square feet—making it the largest public sector building and the largest office complex in the country. The new complex will bring ministries, public corporations, departments, and government offices that…
Reuters – Sri Lanka is committed to meeting its debt servicing obligations and is in talks with some foreign governments and multilateral institutions on its finances, the central bank governor said on Wednesday. Dwindling foreign reserves, a tumbling currency and rising debt levels have dogged Sri Lanka over the last year, leading to increasing fears…
The Committee on Public Enterprises (COPE) pointed out that Litro Gas Lanka and Litro Terminal Lanka, operating under the Sri Lanka Insurance Corporation have conducted their audits through a private company disregarding the Auditor General’s notice to have the audits conducted through them. Whilst the Attorney General had instructed the Auditor General that there was…
One million doses of Sinovac’s vaccine were flown from Beijing to support the city’s vaccination programme Cathay Pacific is proud to have flown the first shipment of COVID-19 vaccines to Hong Kong today onboard Flight CX391 from Beijing as the airline continues to support the Hong Kong SAR Government’s vaccination programme. Cathay Pacific Chief Executive Officer…
The Central Bank of Sri Lanka (CBSL) commenced operations in August 1950 and completed 70 years of its unique and valued contribution to the prosperity of Sri Lanka. To mark its 70th Anniversary, CBSL issued an uncirculated commemorative coin (Aluminum Bronze) in the denomination of Rupees 20 on 31 December 2020. Concurrently to the above,…
Group’s Operating income up 13.36% to Rs 76.73 billion Total assets grow 25% to Rs 1.762 trillion Provision cover rises to 57.42%; impairment charges up 89.03% to Rs 21.420 billion CASA ratio improves to 42.72%, interest expenses down 9.53% Strong asset and other income growth combined with an emphasis on prudent provisioning in one of the…
Dialog Axiata PLC (“Dialog”), Sri Lanka’s premier connectivity provider, announced the commissioning of the Maldives Sri Lanka Cable system (MSC), enabling the delivery of high-speed broadband services. Dialog’s investment in the new high-speed submarine cable will trigger the single largest infusion of International Bandwidth between Sri Lanka and Maldives to date. The 840km long international…
On 18 February 2021, the Monetary Board issued Rules in respect of repatriation of export proceeds into Sri Lanka and conversion of such proceeds into Sri Lanka rupees, and also issued Operating Instructions to Licensed Banks on the same. The above Rules and Operating Instructions, which would supplement the repatriation requirement already in place, were…
The Association of Private Hospitals and Nursing Homes (APHNH) commended the Government’s recent decision to prioritize private sector healthcare workers in the country’s ongoing vaccination drive. APHNH noted that more vaccine shipments are due to arrive in the coming weeks, and expressed confidence in the Government’s support to complete the inoculation of all healthcare workers,…
In the backdrop of an extremely challenging environment, Seylan Bank recorded a Profit After Tax (PAT) of LKR 3Bn for the year ended 31 December 2020. Income Statement Interest Income of the Bank stood at LKR 52.3Bn while interest expenses stood at LKR 32.8Bn reflecting a Net Interest Income (NII) of LKR 19.5Bn with…
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