Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, showcased download speeds in excess of 1.4Gbps using a commercial 5G mobile handset, the highest speed that has been achieved via a mobile handset in South East Asia. Mobile 5G services were demonstrated on the 3.6Ghz trial spectrum that the Telecommunications Regulatory Commission of Sri Lanka (TRCSL)…
Reuters – Sri Lankan shares ended almost flat in dull trade on Thursday, but posted their lowest close in nearly three weeks, while the rupee ended slightly firmer, market sources said. ** On Friday, the central bank cut its key interest rates to support its faltering economy as overall business and consumer confidence slumped following…
In a corruption, fraud and cyber-crime rampant world, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), in its capacity as an influential professional body, has played an exemplary role in strengthening the skills of professional accountants and accounting students to combat these growing dangers. In line with this important objective, CA…
The proposal made by Minister of Transport and Civil Aviation, Arjuna Ranatunga, to purchase railway cross road security systems for Sri Lanka from M/s Kernex Micro Systems Pvt. Ltd (India) for US $8.18 million was approved by the cabinet of ministers. Established in 1991, Kernex Micro Systems Pvt. Ltd has engaged in the business of…
Approval of the Cabinet has been granted previously to implement a Multi- Phase project on Climate Resilience covering the rivers of Mahaweli, Kelani, Malwathu, Ging, Nilwala, Aththanagalu, Mundeni Aru and the river basins of Kala oya, Deduru Oya, Maha Oya and Gal Oya. The 8-10 year project will be carried out in three phases, with…
Sunpower Renewables (Pvt) Ltd, incorporated in 1987 and a trailblazer in the energy management and power generation sector in Sri Lanka, has added yet another first to its long list of achievements by becoming the first and only megawatt installation company to connect on the recently introduced Solar Code by the CEB in Srilanka ….
Caps off a successful year with a whopping 30% increase in profit Leading energy company and subsidiary of Lanka Ventures, the LVL Energy Fund PLC, surpassed its outstanding financial performance in the previous year, by posting Profit after interest and tax of Rs. 571 million in 2018/19 compared to Rs. 439 million in the previous…
Fitch Ratings has upgraded Sri Lanka Insurance Corporation Limited’s (SLIC) Insurer Financial Strength (IFS) Rating to ‘B+’ from ‘B’. The Outlook is Stable. The Under Criteria Observation status on the IFS Rating has also been removed. Fitch has simultaneously upgraded SLIC’s National IFS Rating to ‘AAA(lka)’ from ‘AA+(lka)’ with a Stable Outlook. KEY RATING DRIVERS…
According to the annual report 2018 of the central bank of Sri Lanka the employees Provident Fund has made a net profit of Rs. 190.6 billion , 6.1% reduction from the previous year, and credited Rs.194.6 billion to the accounts of the EPF members at an interest rate of 9.5% compared to 10% paid in…
Sri Lanka Tourism, Sri Lanka Association of Inbound Tour Operators (SLAITO), and The Hotels Association of Sri Lanka (THASL), have joined hands with Sri Lankan Airlines to launch promotional packages to boost the Indian market. “Our tourist sites and hotels are fully operational, and Sri Lanka Tourism is looking forward to welcoming visitors,” stated Tourism…
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