Lanka Bell, Sri Lanka’s iconic telecom operator has achieved a significant milestone by reaching 35,000+ households and businesses with its fourth-generation LTE internet connectivity branded as Bell4G. Within a short duration, Bell4G has raised the bar from serving 15,000 to 35,000+ customers. Moreover, Bell4G enables Lanka Bell to be on par with or supersede the…
Reuters – Sri Lankan shares rose slightly on Wednesday from a more than one-week closing low hit in the previous session as investors bought banking shares, but concerns over rising interest rates weighed on sentiment. Yields on treasury bills rose 3-10 basis points at a weekly auction on Tuesday. They have risen 44-73 basis points…
Leading blue chip conglomerate, Aitken Spence PLC has once again reaffirmed its support to the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) with yet another lead sponsorship. The sponsorship cheque was recently handed over to CA Sri Lanka President Mr. Lasantha Wickremasinghe by Aitken Spence’s Deputy Chairman and Managing Director, Mr. J…
Established in 2006, Prima Management Services (Private) Limited [PMS], a leading provider of IT Solutions in Sri Lanka who provide Software Development, State of the Art IP based video Surveillance Solutions and IT Consultancy, were awarded the “Solution Gold Partnership Certificate” by Axis Communications [ a leader in network video and the inventor of the…
Upon a request of Thailand Deputy Prime Minister Somkid Jatusripitak who visited Sri Lanka in 2016, Ministers Mahinda Amaraweera, Duminda Dissanayake and Malik Smarawickrama are currently engaged in an official visit in Thaliland. Accordingly, they have participated in bilateral talks with regard to fisheries, trade, industry, tourism and agriculture and entered in to several bilateral…
The fintech wave has arrive on the shore of many Asian countries, with banks and regulators alike from countries such as Malaysia, Singapore, Indonesia and India reacting to the disruption. Sri Lanka being part of the global economy is not immune to this trend. Its financial services sector is on the fast track to entering…
In the backdrop of challenging external environment, Seylan Bank reported a resilient performance. The Bank recorded a Profit after tax of Rs. 4,010 Million for the year ended 31st December 2016, which is the highest profit reported since its inception. Net interest income recorded a moderate growth of 12.03% as a result of the strong…
The Commercial Bank of Ceylon PLC continuing its trailblazing performance has reported profit before income tax (PBT) of Rs 20.051 billion for 2016, marking the end of a spectacular year in which it made history as the first private bank in Sri Lanka to surpass a trillion rupees in assets. Profit before value added tax…
Inflation, as measured by the change in the National Consumer Price Index (NCPI) (2013=100), which is compiled by the Department of Census and Statistics, increased to 6.5 per cent in January 2017 from 4.2 per cent in December 2016, on year-on-year basis. Both Food and Non-food categories contributed towards the year-on-year inflation in January 2017….
The financial year ended 31 December 2016 was the first full year of operations after the amalgamation of DFCC Bank with DFCC Vardhana Bank, which took place on 01 October 2015. The expectations were that the amalgamated Bank would reach new financial and other thresholds as a result of a successful blending of development banking…
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