AIA Insurance Lanka today announced the appointment of Nikhil Advani as its new Chief Executive Officer. The appointment will be effective 01 July 2019 subject to approval of the Insurance Regulatory Commission of Sri Lanka. The outgoing CEO, Pankaj Banerjee will relocate to Hong Kong to take up a position in AIA Group as Chief…
SriLankan Catering Ltd. has recorded a steady financial performance for the financial year ended 31st March 2019 with a 24% year-on-year growth in operating profits from Rs. 3.8 billion to Rs. 4.7 billion, according to its unaudited financial statement. SriLankan Catering is the fully owned subsidiary of SriLankan Airlines. Its operating profit ratio, which stood…
With the end of the 30-year civil war in 2009, Colombo 2 real estate value had tripled in a mere five [05] years. This trend of continued rapid ROI for Colombo 2 resulted in secondary sales per (existing) property exchanging hands x 3 (on average) by 2018 – this is due to the continued development…
Huawei Files motion for summary judgment in its court case to accelerate process to halt illegal action against the company Preventing American companies from doing business with Huawei, the US government will directly harm more than 1,200 US companies and will affect tens of thousands of American jobs, one of world’s leading ICT and Telecom…
Reuters – Sri Lankan shares rose on Wednesday while the rupee closed steady on hope of a rate cut by the central bank later this week, market sources said. ** The central bank is widely expected to cut its key interest rates at a meeting on Friday, a Reuters poll showed, to support the economy…
The Sri Lankan Rupee had appreciated by 3.8% against the US dollar (US $) during the year up to 28 May 2019, the latest External Sector data highlights. Reflecting the cross currency movements, the Sri Lankan Rupee had appreciated against all other major currencies, accordingly.
Along with the proceeds of the two International Sovereign Bonds (ISBs), as at end March 2019, gross official reserves of Sri Lanka were estimated at US $ 7.6 billion, equivalent to 4.3 months of imports, the latest external sector data outlines. Further the total foreign assets, which consist of gross official reserves and foreign…
Sri Lanka’s Cabinet of ministers has approved government borrowing of US $ 1.5 billion through raising funds via an International Sovereign Bond (ISB), and the requirement to issue the International Sovereign Bond was proposed by Finance Minister Mangala Samaraweera, a statement said. The statement further added that the decision to issue the ISB takes…
Colombo’s landmark, skyline-transforming development project Cinnamon Life marked a key milestone in its construction this week, with the topping-off of all its towers as well as the luxurious 800-room Cinnamon Hotel building. A remarkable 21 million-man hours across 10 acres of land has delivered the completion of structural work on one of the most iconic…
The Memorandum of Cooperation (MoC) among the three governments of Sri Lanka, Japan and India on the development of the East Container Terminal (ECT) located in the Colombo South Port was signed in Colombo on Tuesday, 28 May 2019. As a hub of the Indian Ocean, the development of Sri Lanka and openness of its…
Video Story
