Category: Industry
Opinion: Why Sri Lanka’s financial services industry need to be data governed & data driven?
By Jithendra Antonio The Impact of Big Data on Products and Services The quality of data used in every business is more important in today’s global business landscape. Our world is changing at a rapid pace as organizations and societies are digitizing faster and moving online and mobile to conduct business. We have more people […]
‘s Basel III sub debt final A(lka)
Fitch Ratings has assigned Sampath Bank PLC’s (A+(lka)/Negative) proposed Basel III compliant subordinated debentures a National Long-Term Rating of ‘A(lka) ‘. The notes will total LKR7.5 billion, mature in five years and carry fixed coupons. The notes include a non-viability clause and will qualify as regulatory Tier II capital for the bank. The bank plans […]
Ericsson and Dialog partner to roll out first commercial IoT network in Sri Lanka
Mar 02, 2018 (LBO) – Dialog Axiata PLC, a local telecommunications provider, and Ericsson have rolled out the first commercial Massive IoT network supporting both Cat-M1 and NB-IoT technologies in South Asia. Deployed across Dialog Axiata’s Sri Lankan network,the advanced mobile network technology will help accelerate the proliferation of IoT devices, the company said in […]
Cabinet approves proposal to conduct feasibility for India, Japan aided LNG terminal
Feb 28, 2018 (LBO) – Sri Lanka’s cabinet on Tuesday approved a proposal to conduct a feasibility study for the proposed Liquefied Natural Gas (LNG) Terminal and the Floating Storage Regasification Unit (FSRU). Accordingly, Sri Lanka will sign a tripartite MoU with India and Japan soon to conduct a feasibility study. Cabinet has also decided […]
PropertyGuru Asia Property Awards (Sri Lanka) 2018 event gathers momentum, shortlist reveal in June
PropertyGuru, Asia’s foremost online property company, is gearing up to host its first-ever Asia Property Awards gala dinner in Colombo, Sri Lanka in 2018 as property developers island-wide continue to express enthusiasm to participate in the region’s most prestigious property tilt. The inaugural PropertyGuru Asia Property Awards (Sri Lanka) domestic gala dinner will take place […]
‘s Insurance A+(lka); outlook stable
Fitch Ratings has assigned Sri Lanka-based People’s Insurance PLC a National Insurer Financial Strength (IFS) Rating and National Long-Term Rating of ‘A+(lka)’. The Outlook is Stable. KEY RATING DRIVERS The ratings reflect the non-life insurer’s strong domestic business profile, which is supported by its association with the People’s Bank (Sri Lanka) (PB, AA+(lka)/Stable) group, strong […]
Sri Lanka’s economic outlook, investment opportunities positive: Eran
Feb 28, 2018 (LBO) – Sri Lanka government has formulated a three-year Economic Delivery Programme to increase per capita income to US 5000 dollars, create one million new jobs, and increase FDI to US 5 billion dollars per year said the Minister of State for Finance Eran Wickramaratne. He made these comments addressing a gathering of […]
Sri Lanka needs firm policy to mitigate future refinancing risks: Fin Min
Feb 27, 2018 (LBO) – Sri Lanka faces refinancing risks in the coming years and need a concerted and coordinated policy response to mitigate such risks, Finance Minister Managala Samaraweera said. “It is clear that Sri Lanka, like many developing nations, faces such refinancing risks in the coming years. This warrants a concerted and coordinated […]
Janashakthi Delivers Sustained Double Digit Growth through FY 2017
(PRESS RELEASE) – Registering steady double digit growth in premiums through FY 2017, Janashakthi Insurance PLC (Janashakthi) posted a consolidated Gross Written Premium (GWP) of Rs. 15.115 billion for the twelve months ended 31st December 2017, a commendable year on year (YoY) growth of 11%. The Non-Life or General Insurance business grew by 14% to end […]
Allianz completes acquisition of Janashakthi General Insurance
Feb 26, 2018 (LBO) – Allianz announced the company has completed its acquisition of Janashakthi General Insurance Limited, after receiving all the necessary regulatory approvals, Monday. This transaction brings together two highly complementary businesses for enhanced scale, competitiveness and service capabilities, while positioning Allianz as one of Sri Lanka’s largest general insurers and significantly accelerating […]
Huawei Unveils First AI-Powered Smartphone car
Feb 26, 2018 (LBO) – Huawei, has become the first mobile device manufacturer in the world to use an AI-powered smartphone to drive a car.The ‘RoadReader’ project pushes the boundaries of Huawei’s object recognition technology and puts the learning capabilities, speed and performance of its AI-powered devices to the test.Unlike other driverless cars, which simply detect […]
Twitter bans attempts to artificially inflate fame of popular hashtags
Feb 23, 2018 (LBO) – Twitter has released an update on the existing rules prohibiting the attempts to artificially inflate the prominence of popular hashtags.A hashtag written with a # symbol is usually used to index keywords or topics on Twitter allowing people to easily follow topics they are interested in. In a blog post, […]