Category: Industry
Comm Bank introduces Flash – Sri Lanka’s first fully-fledged Digital Bank Account
The Commercial Bank of Ceylonhaslaunched Sri Lanka’s first fully-fledged DigitalBankAccountdesigned to be the next evolution in digital financial services and financial wellness. Branded ‘Flash,’ the product was developed in partnership with the Singapore-based company ‘Kashmi’ that introduced aninnovative social paymentsapp in Singapore in 2016. The Bank said the Flash Digital Bank Account hopes to bring […]
Mastercard Offers Greater Value for Premium Cardholders in Sri Lanka
Mastercard unveiled an enhanced suite of benefits and privileges exclusively for World and Platinum Mastercard consumer credit cardholders in Sri Lanka.Based on the company’s experiences from around the world as well as its understanding of the local market, the benefits program has been realigned with the evolving lifestyles and spending priorities of the growing number […]
US Trade Court nullifies tax on Sri Lanka rubber tyre imports in historic judgement
July 17, 2018 (LBO) – Sri Lanka has won the first ever revocation of countervailing duty imposed in US for a Lankan export with the removal of duties on the import of off-the-road (OTR) rubber tyres from Sri Lanka to the United States, Ministry of Industry & Commerce said in a statement. The statement is […]
Fitch downgrades Melsta Regal Finance; affirms 9 Sri Lankan Finance Companies
July 17, 2018 (LBO) – Fitch Ratings Lanka has downgraded Melsta Regal Finance’s National Long-Term Rating to ‘B(lka)’ from ‘A+(lka)’ and removed the Rating Watch Evolving while assigning a Stable Outlook. The agency has also affirmed the ratings of the following nine finance companies: – Central Finance Company PLC (CF) – LB Finance PLC (LB) […]
Dialog becomes Sri Lanka’s first cloud service provider to offer VMware
July 17, 2018 (LBO) – Sri Lanka’s leading telecommunications service provider, Dialog Axiata on Tuesday partnered with VMware to strengthen the country’s enterprise cloud market. With this partnership, Dialog Axiata becomes Sri Lanka’s first cloud service provider to offer VMware based cloud services to organizations using a fully automated and flexible platform.This platform will support […]
Asia Property Awards debuts in Sri Lanka: Honors industry’s growing potential
Jul 17, 2018 (LBO) – Sri Lanka’s real estate industry was honored at the first PropertyGuru Asia Property Awards which was held at the Shangri-La, Colombo, recently. The awards recognised the real estate sector’s tremendous potential, with the island’s most innovative developers and current developments of the year chosen by an independent panel of experts following […]
CSE to host briefing for potential Empower Board sponsors
Jul 17, 2018 (LBO) – The Colombo Stock Exchange (CSE) and the Securities and Exchange Commission of Sri Lanka (SEC) recently launched “Empower”, a listing platform fostering capital raising and growth opportunities for Sri Lankan Small and Medium Enterprises (SMEs). SMEs around the country now have at their disposal a range of new capital raising […]
Capital Trust Residencies wins multiple awards at Asia Property Awards 2018
Capital TRUST Residencies (Pvt) Ltd clinched four prestigious awards at the PropertyGuru Asia Property Awards 2018 held at Shangri-La Hotel Colombo on 12th July 2018.Among them was one of the major awards at the ceremony, the “Best Boutique Developer”. The company’s Thimbirigasyaya Road, Colombo 05 project won “Best Mid End Condo Development (Colombo)” and also […]
France beat Croatia 4-2 to secure second FIFA World Cup title
July 16, 2018 (LBO) – France have won the 2018 FIFA World Cup Russia after defeating Croatia 4-2 in a thoroughly entertaining Final at the Luzhniki Stadium in Moscow in what was a fitting end to an outstanding tournament.Despite Croatia having the majority of possession in the opening stages, France took the lead in somewhat […]
National Export Strategy to be launched this week
Jul 16, 2018 (LBO) – Sri Lanka is to launch a long-awaited National Export Strategy (NES) later this week on the 19th. “The National Export Strategy (NES) is a fantastic opportunity for the private sector and the government to work together but the success of it will depend entirely on the political will of the incumbent […]
Tire maker Michelin acquires Camso
Jul 16, 2018 (LBO) – Michelin, a tire company has acquired Camso, an off-the-road (OTR) track and tire company, for US 1.45 billion dollars. The two companies’ off-the-road operations will be combined and create a new division managed in Magog, Quebec (Canada).A press statement claims, “The strategic partnership makes the newly created entity the world leader […]
Sri Lanka – Singapore FTA: Over USD 16Bn investment projects under discussion
Jul 16, 2018 (LBO) – Projects with a total investment value of over US 16 billion dollars mainly in manufacturing for exports are the first projects to realize since the Sri Lanka-Singapore FTA was implemented on May 1, 2018, the Board of Investment (BoI) in Sri Lanka said.“Sri Lanka is gearing to reap the benefits […]