IFC Country Manager for Sri Lanka and Maldives Ms. Ameena Arif says, her organization is ready to finance Sri Lanka’s private sector projects by providing mid to long term loans via a multiple of financing methods. She said, the loan component for potential partners would start from around US$ 3 million, but stressed that those…
GE Transportation acquired ShipXpress, a Neptune Beach-based supply chain technology company, Tuesday. ShipXpress provides cloud-based solutions for transportation and industrial businesses. Neither company released details on the transaction. The plan, according to GE Transportation President and CEO Jamie Miller, is to add ShipXpress’ software capabilities to GE’s technology platform Predix, which is also an industrial…
Pan Asia Banking Corporation PLC Chairman Nimal Perera has resigned as Chairman and Director with effect from 31 August 2016. Under the terms of the Banking Act of 2007, an individual could hold office as chairman or director in any private bank in Sri Lanka only to a maximum of nine years. Thus, Nimal Perera…
A major milestone in the historic US-Sri Lanka bilateral trade will be reached today September 01 when the Work Plan under U.S.-Sri Lanka Trade and Investment Framework (TIFA) goes into immediate effect after inked by both sides. “I am here to complete the work-plan under US-Sri Lanka Joint Action Plan finalised on 28 April in…
The Asian Development Bank (ADB) has taken steps to buy Hatton National Bank Plc (HNB) shares to the tune of US dollars 50 million, which is 9.9 per cent of the total share capital of HNB. This is a decision taken at an Extraordinary General Meeting (EGM) of the bank, subject to the approval of…
Reuters – Aug 31 Sri Lankan shares edged down on Wednesday to post over two-week closing lows as investors sold large caps to book profits while retail investor participation rose a day after the central bank held its key policy rates steady. The central bank left the key policy interest rates unchanged on Tuesday, as…
SriLankan Airlines celebrates 37 years of service to the country today (1st September) with renewed hope for the future as it continues to revamp its global network, reduce its losses, optimize revenue, and move towards profitability. Multi-religious ceremonies are being held to bring blessings on the National Carrier, with a Hindu Pooja at the Sri…
Close to 40 of the most elite brands in Sri Lanka will be displaying the best of local products at a special exhibition that will coincide with the World Export Development Forum (WEDF) 2016. With the global summit scheduled to be held in Sri Lanka on the 12th and 13th of October this year, Sri…
Janashakthi Insurance PLC, a leading Insurance provider in Sri Lanka, announced its partnership with the Chartered Institute of Management Accountants (CIMA) Sri Lanka as the Strategic Partner for the recently concluded CIMA Business Leaders’ Summit for the second consecutive year. The event, held on 23 – 24 August 2016, is a prominent stage for compelling…
Life insurance leader reports strong growth in premium and investments Ceylinco Life has reported that total income grew 14 per cent to Rs 11.028 billion in the six months ending 30th June 2016, with robust growth in both gross written premium and income from investments enabling the life insurance leader to consolidate its position at…
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