Sri Lanka’s Payment Card Industry Association and Sri Lanka Banks’ Association (Guarantee) Ltd. in a statement released to public had recently stated that fraudulent withdrawals of funds via ATM skimming is being investigated and action is being taken, but had urged the public and customers to maintain great vigilance. “We wish to confirm that all…
Hayleys Group’s globally-ranked subsidiary Dipped Products PLC (DPL), a leader in the non-medical rubber glove market, reported Rs. 22.5 billion Group turnover for the nine months ending December 2018, increase of 5 percent versus comparative period last year. The Hand Protection sector contributed Rs 12.9 billion to the group’s top line, while the Plantation sector…
The Government of Sri Lanka is negotiating a US $ 1 billion loan from China to construct a highway linking the capital Colombo to the hilly resort city of Kandy, even as the heavily-indebted South Asian island nation makes arrangements to pay down nearly remaining US $ 5 billion in foreign loans this year, after…
Sri Lanka’s Central Bank (CBSL) Governor Dr. Indrajit Coomaraswamy had recently told reporters that incidents of ATM fraud have taken place at banks that have not employed EMV chip technology and that the CBSL will make it compulsory for all banks to achieve EMV chip-technology compliance. With the number of fraud utilizing credit cards and…
Sri Lanka’s Cabinet of Ministers has approved a proposal costing Rs. 1.95 billion, to develop Palaly Airport to operate regional commercial flights, the second on the project after it was first approved in October last year, ;latest media reports outlined. The project aims to develop the capacity of the airport to operate commercial flights, focused…
JKH Group revenue for the 3rd Quarter of 2018/2019 up 17% John Keells Holdings (JKH), Chairman Krishan Balendra (Son of Former Chairman of John Keells Holdings Kandiah Balendran – the first Sri Lankan Chairman of John Keells Holdings, whilst Krishan is the first such son of a Chairman to become Chairman in Sri Lanka’s largely…
Moshe Safdie, the architect of Sri Lanka’s paradigmatic high rise edifice Altair, has been named the Laureate in Architecture by the jury committee for the 2019 Wolf Prize, considered the second most important in the world after the Nobel Prize. To be presented by the President of Israel Reuven (Ruvi) Rivlin in the Knesset (the…
The number of bank ratings on Negative Outlook has increased since the middle of last year, Fitch Ratings says. The share of Negative Outlooks globally rose to 13% at end-2018 from 10% at end-1H18, following sovereign-driven Outlook revisions in Italy and Latin America, while the share of Positive Outlooks decreased slightly to 7% (end-1H18: 8%)….
Reuters – Sri Lanka’s rupee rose 0.5 percent on Thursday, and posted a gain of 2.4 percent for the month, as foreign investors purchased government securities, while Fitch rating agency revised down forecast for the currency for 2019 and 2020. ** Fitch Solutions Macro Research, a subsidiary under Fitch Group in a report revised its…
Seychelles Vice President Vincent Meriton on 30th January had left on a two-day visit to Sri Lanka, recent media reports from Seychelles highlights. Vice President Meriton is accompanied by Designated Minister, Mrs. Macsuzy Mondon, Director General of the Seychelles Coast Guard, Colonel Simon Dine, Special Advisor for the Seychelles Police Force, Ms. Sheryl Vengadasamy and…
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