Category: Other
Huawei G7 Plus debuts in Sri Lanka
Huawei, the fastest growing smartphone in Sri Lanka, unveiled the Huawei G7 Plus the latest 4G device which was globally launched in the beginning of November 2015. The launch ceremony was held at the Singer Lifestyle Exhibition at BMICH and was patronized by Shunli Wang – CEO Huawei Sri Lanka and Henry Liu – Country […]
Janashakthi Pioneers Unique Policy Tailored for People with HIV
In a breakthrough move in the life insurance sector, Janashakthi Insurance has extended life cover to those diagnosed with HIV.This is a unique new policy that will change the lives of many people and give them peace of mind. Over 3300 people were living with HIV by the end of 2014, according to estimated data […]
£6.6 mln, non-resident defence attaché to help Sri Lanka: David Cameron
The UK Prime Minister held bilateral talks with President Sirisena of Sri Lanka at the Commonwealth Summit in Malta Friday, and announced a significant increase in UK support for reconciliation and human rights, recognizing the considerable progress Sri Lanka has made since it hosted the last Commonwealth Meeting in 2013. The Government will provide £6.6 […]
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On 20 November, Sri Lanka Finance Minister Ravi Karunanayake proposed introducing limitations on pawning loans and consumer finance loans for the country’s commercial banks. The proposal is credit positive for Sri Lankan banks because it will limit their exposure to these higher-risk loans.Two of our rated entities, Bank of Ceylon (BOC, B2/B1 stable, b1) and Hatton National Bank […]
‘s yuan as reserve currency
Nov 30, 2015 (LBO) – The International Monetary Fund may soon label China’s yuan as a reserve currency that could pressure China to reform currency management and improve communication with the rest of the world.The IMF is expected to say that next year it will add the yuan to the basket of currencies that comprise […]
President arrives for historic climate change conference
Nov 30, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena arrived in France on Sunday to attend a world leaders’ conference on climate change, COP 21, a potentially historic meeting that could set limits on greenhouse gas emissions.More than 25,000 official delegates from 190 countries will meet on Monday for the largest conference ever organized […]
Commercial Bank hosts capacity building programme for Eastern dairy farmers
A capacity building programme conducted by the Commercial Bank of Ceylon recently for dairy farmers of the Kokkadicholai area in the Eastern Province benefitted 150 people involved in the industry. Jointly organised by the Bank’s Agriculture and Micro Finance Unit (AMFU) in Kattankudy, its Regional office – Eastern and the Kattankudy branch, the programme was conducted with […]
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SAMPATH BANK PLC emerged as the winner of the ‘Best Corporate Citizen Sustainability Award 2015’, an annual event organized by the Ceylon Chamber of Commerce, the country’s premier business chamber to recognize the sustainable champions of the local corporate world.Singer Sri Lanka PLC and National Development Bank PLC was awarded as the 1st and the […]
Redress to families of deceased migrant workers
The families of the deceased migrant workers in the Middle East and Russia received compensation on 26thNovember 2015 at an event organized by the Ministry of Foreign Affairs. Thirty four such families received Sri Lankan Rupees 50 million from Hon.Dr. Harsha de Silva, Actg. Minister of Foreign Affairs. This is the third such event organized […]
How Budget impact Sri Lanka’s real estate sector?
Last week, Sri Lanka’s Finance Minister announced plans to remove the 15 percent land leasing tax for foreign investors, and reduce the approval period for foreign direct investment requests. The foreigner-friendly budget for 2016 is expected to have great impact on the country’s real estate market. The removal of land lease tax for foreigners is […]
President plants ‘Na’ tree at Westminster House
President Maithripala Sirisena planted a Na tree in the garden of the official residence of the British High Commissioner (Westminster House). The event was to mark President Sirisena’s last week as Commonwealth Chair-in-Office before he departs for CHOGM 2015 in Malta. President Sirisena and High Commissioner James Dauris met to discuss this week’s Commonwealth Heads […]
Fitch maintains negative outlook for Sri Lanka’s telecom sector
Nov 23, 2015 (LBO) – Fitch Ratings will maintain a negative outlook for Sri Lanka’s telecom sector due to uncertainty over proposals to increase taxes, which are likely to lower profitability and increase leverage for telcos, if implemented, Fitch Ratings said. The full statement by Fitch is reproduced below: Fitch Ratings-Singapore/Colombo-22 November 2015: Fitch Ratings […]