A revolutionary new model in cashless mobile payments is set to create an SME led transformation in the Sri Lankan economy with the launch of PAYable, a free Bluetooth card reader and Mobile phone App. Developed by CBA Solutions (Pvt) Ltd, PAYable is lead by two pioneering Sri Lankan technology entrepreneurs who believe that breaking…
Moody’s Investors Service, (“Moody’s”) has assigned an issuer and long term local currency deposit rating of B1 to Sampath Bank PLC and short-term ratings of non prime. Moody’s has also assigned the bank with a CR Assessment of Ba3(cr). The assigned long-term foreign currency deposit rating is B2 and is constrained by the foreign currency…
A joint Networking Evening was organised by the Sri Lanka – Singapore Business Council (SLSBC) of the Ceylon Chamber of Commerce and the Singapore (Sri Lanka) Club. The event was organized with the objective of providing an opportunity for members to interact amongst themselves, with the Singapore expatriate community in Sri Lanka and senior officials…
~ Strengthens position in General Insurance business with acquisition of AIA General Insurance Lanka Limited Janashakthi Insurance PLC (Janashakthi) reported a consolidated Gross Written Premium (GWP) of Rs.10.664 billion for the year ended 31st December 2015, a growth of approximately 19% over the same period in 2014. The insurer posted a Profit Before Tax (PBT)…
Sales of LKR 35.9 billion, fuelled by power brands Nestomalt, Milo and Maggi Profit after tax of LKR 4.1 billion, supported by portfolio optimisation and driving efficiencies Strengthens position as a leading Nutrition, Health and Wellness company · Contributes over LKR 6 billion to the rural economy Shivani Hegde, Nestlé Lanka CEO: “These are strong results…
The Governor of Central Bank Arjuna Mahendran has said that Sri Lanka’s economic growth is running above 5 percent and needs to achieve a seven percent economic growth by the end of this year with foreign investments. Speaking at a media briefing on the state of the economy at the Central Bank Thursday, the Governor…
Keppel Land has in recent weeks divested its stakes in two property companies in Sri Lanka and Vietnam, it said on Friday (Feb 26). The company said the move was in line with its continual focus on strengthening its presence in its core markets and growth cities, and recycling assets for higher returns. Keppel Land…
Singer Sri Lanka ended 2015 financial year with a record growth. Revenues reached Rs. 38.7 billion, recording an impressive growth of 30% when compared to the previous year. Group Net Profit surged to Rs. 1,236 Million, an increase of 58% and Net Profit for the Company surged to Rs. 859 Million, an increase of 85%….
The Tea Exporters Association (TEA) recently conducted a workshop on tea strategy development under the theme ‘Way forward towards 2020’ at the Export Development Board- auditorium, with the participation of many distinguished stakeholders from the industry. Hon. Navin Dissanayake – Minister of Plantation Industries, graced the workshop as chief guest while the elite panel of…
Kerala government is aiming for a 10-12 per cent growth in domestic and foreign tourist arrivals and exploring new source markets like East Asia and Russia for tourism opportunities. “Last year has been a difficult year for the tourism industry and we achieved a flat or marginal growth compared to 2014. This year and in…
Video Story
