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World / ADAderana

Seylan Bank Partners with National Industry Exhibition 2023 to Empower Sri Lankan Industries and SMEs

Seylan Bank, the Bank with a Heart, announced its partnership for the much anticipated National Industry Exhibition 2023. The exhibition, organised by the Industrial Development Board under the purview of the Ministry of Industries, will be held from the 22nd of June to the 25 th June at the Bandaranaike Memorial International Conference Hall (BMICH). In its role as a catalyst for the growth and development of Sri Lankas small and medium-sized enterprises (SMEs), Seylan Banks partnership of the

9 Jun 2023 4:16 pm
The Colombo Colts Cricket Club Hosts Exciting 6-A-Side Cricket Tournament as part of their 150th Anniversary Celebrations

The Colombo Colts Cricket Club is hosting a thrilling 6-A-Side cricket tournament this weekend (June 10th and 11th, 2023). This tournament is being organized as part of the clubs grand 150th Anniversary celebrations and promises to showcase top-notch cricketing talent. The tournament will occur at the renowned Colombo Colts Cricket Club grounds, which have witnessed countless memorable cricketing moments over the years. With the participation of premier cricket teams, the competition is expected

9 Jun 2023 4:14 pm
Dialog Enterprise Enables Digital Transformation of MBSL with Dialog SD-WAN Solution

Dialog Enterprise, the ICT solutions arm of Dialog Axiata PLC, helped enable the digital transformation initiative of Merchant Bank of Sri Lanka & Finance PLC (MBSL) by successfully completing the deployment of its Secure Software-Defined Wide Area Networking (SD-WAN). MBSL has a rich history of being the countrys pioneer specialists in trade finance and investment banking and is committed to offering the best solutions for its customers financial aspirations while creating a platform and atmosp

9 Jun 2023 4:11 pm
NDB and the Sri Lanka Society of Rugby Football Referees Team Up for a Winning Partnership

As a responsible local bank committed to empowering the community, NDB Bank has often contributed to the betterment of sports. In its latest bid to further this commitment, the bank has extended a hand to empower youth sports through a partnership with the Sri Lanka Rugby Football Referees (SLSRFR) as its Official Banking Partner. The official signing of the partnership agreement was held on NDB, and SLSRFR signed a partnership agreement in April 2023 for a period of three years, which is valid

9 Jun 2023 3:46 pm
Embassy and Permanent Mission of SL in Vienna promotes Sri Lanka as a leading tourist destination

The Embassy and Permanent Mission of Sri Lanka together with Aitken Spence Travels promoted Sri Lanka as a unique tourist destination to 20 leading tours operators in Austria at the Embassy on 6 June 2023. Delivering the welcome remarks, Ambassador and Permanent Representative of Sri Lanka Majintha Jayesinghe highlighted the distinctive splendors of Sri Lanka. While speaking of the many attractions, the Ambassador ensured assistance to Austrian travel agencies. During his presentation, Assistant

9 Jun 2023 3:43 pm
13 Ship calls to HIP from Cordelia Cruises from June to September

The Hambantota International Port (HIP) will be entering the tourism mix of Indian cruise ships with an agreement of 13 ship calls to the port between June and September this year. We are positioning the port to several categories of cruise ships from luxury liners to all inclusive, budget and low budget carriers. With a 17 metre depth, HIP can accommodate any cruise liner in the world and as a new and modern port, we are well geared to handle the needs of ships, crew and passengers, immigration

9 Jun 2023 2:33 pm
Binance.US suspends US dollar deposits after crackdown by regulators

Reuters Crypto exchange Binance.US said on Thursday it is suspending U.S. dollar deposits and that its banking partners are preparing to pause fiat dollar withdrawal channels as early as June 13, just days after U.S. regulators sued Binance and its CEO Changpeng Zhao. The U.S. arm of the worlds largest crypto exchange said in a tweet at 10:33 p.m. EDT (0233 GMT Friday) that the move comes as it is taking proactive steps in its transition to a crypto-only exchange for the time being. Trading,

9 Jun 2023 1:43 pm
IMF urges Fed, central banks to keep tightening to reduce inflation

Reuters The International Monetary Fund on Thursday urged the U.S. Federal Reserve and other global central banks to stay the course on monetary policy and remain vigilant in combating inflation. IMF spokesperson Julie Kozack said inflation momentum has slowed in the United States, but remained a pressing concern. If inflation does prove to be more persistent than expected, then the Fed may need to push interest rates higher for longer, she told reporters at a regular briefing. She said the IMF

9 Jun 2023 1:40 pm
High-Level Review of National Trade Facilitation Committee

Fuels Sri Lankas Business Landscape and Trade Commitments In an effort to accelerate trade facilitation commitments and bolster the business landscape in Sri Lanka, a high-level review of the National Trade Facilitation Committee (NTFC) was conducted Wednesday (7). Chaired by the Secretary of the President at the Presidential Secretariat, the meeting involved the participation of committee members representing 12 government agencies and 7 private sector Chambers, along with the Secretaries of th

9 Jun 2023 1:28 pm
Emirates unveils new closed loop recycling initiative to reduce plastic

Emirates is unveiling a new closed loop recycling initiative this month, where millions of onboard items such as plastic trays, bowls, snack and casserole dishes, will now be recycled in a local facility and remade into fresh, ready-to-use Emirates meal service products. Marking United Nations World Environment Day on 5 June, and the theme of #BeatPlasticPollution, Emirates will introduce the new recycled utensils onboard from June 2023 onwards. In line with Emirates commitment to consuming resp

9 Jun 2023 1:24 pm
Sri Lanka eyes free trade pact with Thailand by March as growth in focus

Reuters Sri Lanka and Thailand could sign a free trade agreement (FTA) by March, a top official of the Indian Ocean nation told Reuters on Wednesday, as it attempts to rebuild its crisis-stricken economy. The two nations restarted deal negotiations in January, months after a severe financial crisis engulfed Sri Lanka, as its foreign exchange reserves fell to a record low. Both sides are enthusiastic and there is strong political will, Sri Lankas chief FTA negotiator, K.J. Weerasinghe, told Re

9 Jun 2023 12:52 pm
Colombo City Land Prices Reverses Decline with a 9% Increase; Other Areas Remain Stagnant

Land Price Index 2023 According to the 2023 Land Price Index (LPI) developed by LankaPropertyWeb (LPW), Colombo city land prices have shown a 9% increase since the previous year, while the rest of Colombo district, along with Gampaha and Kalutara districts have shown marginal increase or decrease. Overall, Western province has shown a 2% increase in land prices from 2022, compared with a 10% increase seen last year. The average price of lands in the Colombo district (except Colombo 1-15) has sho

9 Jun 2023 12:44 pm
Red Cross Launches World Disasters Report 2022 in Colombo, Sri Lanka

Strong local providers are a must for efficient humanitarian response; Red Cross disaster report finds. The International Federation of Red Cross and Red Crescent Societies (IFRC) launched the World Disasters Report (WDR) 2022 in Sri Lanka, in the presence of the movements leaders for South Asia. The Sri Lanka Red Cross Society (SLRCS) hosted the event in collaboration with the IFRC. With the world having to face one of the largest public health emergencies (PHE) in decades, it is critical that

9 Jun 2023 12:34 pm
hSenidBiz invests in People and Markets, setting foundation for FY24

hSenid Business Solutions (hBS) reported its results for the period ended 31 March 2023, with revenues up 32.7 percent year-over-year for FY23. Topline growth was supported by its core PeoplesHR Cloud offering, followed by Tracking Solutions. Recurring revenues accounted for 49.0 percent, driven by PeoplesHR Cloud. Region-wise, APAC and Sri Lanka contributed strongly to topline growth. Net profits for the year came in at LKR 183.5 million, recording an LKR 0.66 earnings per share. The company ob

9 Jun 2023 12:31 pm
SPARK: Youth Entrepreneurship Competition 2023

Encouraging Sri Lankas next generation of entrepreneurs, The Ceylon Chamber of Commerce, and the International Labour Organization Launch SPARK: Youth Entrepreneurship Competition 2023 The Ceylon Chamber of Commerce, in collaboration with the International Labour Organization (ILO) is pleased to announce the launch of SPARK a national youth entrepreneurship competition for Sri Lankas next generation of entrepreneurs. More detailed information about the competition, including application forms,

9 Jun 2023 12:27 pm
Ministry of Power and Energy signs agreement with RM Parks Inc to ensure uninterrupted fuel supply

In a bid to address the foreign exchange crisis in Sri Lanka and ensure a steady supply of fuel, the Ministry of Power and Energy has taken decisive action. Accordingly, an agreement was signed today at the Presidential Secretariat, between the Government of Sri Lanka and RM Parks Inc., a prominent international company operating in collaboration with Shell, marking a significant step towards securing a long-term contract for the importation, storage, distribution, and sale of petroleum products

8 Jun 2023 7:01 pm
ADB Provides Sri Lanka Access to Concessional Financing to Facilitate Sustained and Inclusive Recovery

The Asian Development Bank (ADB) has approved the eligibility of Sri Lanka to access concessional financing. The availability of concessional assistance, offered at low interest rates, broadens Sri Lankas options to bridge its urgent development financing needs to restore economic stability and deliver essential services, particularly to the poor and vulnerable. Eligibility for concessional resources among the developing member countries of ADB is based on gross national income per capita and c

8 Jun 2023 6:53 pm
Orient Finance Earns Great Place to Work Certificationfor the Second Consecutive Year

Orient Finance PLC, a member of the Janashakthi Group, has received the prestigious Great Place to Work Certification for the 2 nd consecutive year reinforcing their position as a great workplace in Sri Lanka, and reflecting the companys dedication to fostering a positive work culture for their employees who are considered the organizations most valuable assets. Great Place to Work is an independent analyst that conducts anonymous employee surveys and culture audits to evaluate workplace practic

8 Jun 2023 12:41 pm
Weak Operating Environment Challenges Sri Lankan Insurers

Fitch Ratings-Colombo, Sydney-07 June 2023: Weak operating conditions for Sri Lankan insurers raise near-term downside risks to their credit profiles, says Fitch Ratings. Operating risks have risen due to the sovereigns deteriorated credit profile and the resultant lowering of the national ratings of some state-owned and private-sector institutions. The negative rating actions on the Sri Lanka sovereign since 2022 and various financial institutions underscore the risks to domestic insurers, whos

8 Jun 2023 12:32 pm
Tea exportersexpress deep concern over decision to terminate SVAT from 2024

The members of Tea Exporters Association (TEA), who are responsible for earning over USD 1billion in net tea exports earnings annually, express our deep concern over the decision taken by the Cabinet of Ministers on the 5th June 2023 to terminate the paperless Simplified VAT system. This current simplified system provides exporters with a significant level of ease of doing business, competitiveness, as well as conserves their cash flows towards export operations. When the government is working t

8 Jun 2023 12:23 pm
Singer Premium Furniture Opens its Doors at One Galle Face

Singer Sri Lanka, a renowned name in the furniture industry, marked a significant milestone with the grand opening of its flagship store for Premium Furniture at One Galle Face. This exclusive event showcased a stunning range of modern and exquisite designs, elevating the concept of luxurious living. Introduced in December last year, Singers premium furniture range was a strategic move to cater to the discerning tastes of the high-end market. The response has been phenomenal, fortifying Singer F

8 Jun 2023 11:25 am
AIA celebrates one year of empowering half a million women to rise together

AIA Insurance recently commemorated the one-year anniversary of its womens program, AIA, in partnership with IFC-DFAT Women in Work program, with an evening of celebration. With patronage of Damayanthi Fernando Director General Insurance Regulatory Commission of Sri Lanka (IRCSL), Chathuri Munaweera Chief Executive Officer (CEO) AIA Insurance and Victor Antonypillai Senior Country Officer for Sri Lanka and Maldives International Finance Corporation (IFC) and Sarah Twigg Manager for IFC Women

8 Jun 2023 11:22 am
SLT-MOBITEL and Thyaga team up to change the Art of Gifting

Set to revolutionize the art of gifting with an easy and trendy digital solution, SLT-MOBITEL, the National ICT Solutions Provider and Thyaga, Sri Lankas first and largest e-gift voucher platform have joined forces to offer a convenient and hassle-free way to purchase and send digital gift vouchers for any occasion. Making it easier to present gifts in a convenient and personalized manner with just a few clicks, Thyaga is now on board on SLT-MOBITEL eTeleshop platform .

8 Jun 2023 11:08 am
The Coca-Cola Foundation, Eco-Spindles and Janathakshan to combat plastic pollution in Colombo with the launch of the Eko Wave Material Recovery Facility

In honour of World Environment Day 2023, The Coca-Cola Foundation joined forces once again with Eco-Spindles and Janathakshan (GTE) to officially launch Eko Wave an advanced Material Recovery Facility (MRF) in Colombo, in the presence of the Chief Guest, Supun Pathirage Chairman of the Central Environment Authority. Taking decisive action in line with United Nations theme for World Environment Day Solutions to Plastic Pollution, the Eko Wave MRF in Colombo showcases an unwavering dedication to

8 Jun 2023 10:27 am
Sri Lankas official reserve assets increase by 26.2% in May

Sri Lankas official reserve assets stood at USD 3,483 million in May 2023, according to the Central Bank of Sri Lanka (CBSL). This indicates an increase of 26.2% from the official reserve asset figure of USD 2,761 million in April 2023. However, the current official reserve assets include a swap facility from Peoples Bank of China, to the tune of USD 1.4 billion, which is subject to conditionalities on usability, the CBSL said.

8 Jun 2023 9:00 am
Dr. Harsha de Silva nominated as the Chairman of the Committee on Public Finance

The Committee of Selection of the Parliament decided Wednesday (07) to nominate the Member of Parliament (Dr.) Hon. Harsha de Silva as the chairman of the Committee on Public Finance in the fourth session of nineth Parliament. This nomination has been made in accordance with Standing Orders 121, and the first meeting of the Committee on Public Finance will be held this afternoon under the chairmanship of (Dr.) Hon. Harsha De Silva. (Dr.) Hon. Harsha De Silva also held the position of Chairman of

8 Jun 2023 8:53 am
A Digital Promotion Agency to be established to introduce a new APP to collect data of the public sector President

Dr. Harsha De Silva appointed as the new Chairman of the Committee on Public Finance on the recommendation of the President President Ranil Wickremesinghe announced plans to establish a Digital Promotion Agency aimed at developing computer applications for the collection and monitoring of data from various government entities in Sri Lanka. Previously, private companies had been responsible for creating such applications for government organizations. However, the President emphasized the need for

8 Jun 2023 8:30 am
President Wickremesinghe Holds Crucial Meeting with SLRCS & IFRC Leaders

Fostering International Collaboration for Humanitarian Endeavours. In a momentous development, President Ranil Wickremesinghe convened a meeting Wednesday (07) with a delegation composed of members from the esteemed Sri Lanka Red Cross Society (SLRCS) and the prestigious International Federation of Red Cross and Red Crescent Societies (IFRC). The delegation comprised distinguished leaders, including Mr. Jagath Abeysinghe, President of SLRCS, Dr. Mahesh Gunasekara, Director General of SLRCS, Mr.

8 Jun 2023 8:29 am
Rate of ransomware attacks decline slightly across APJ in 2022: Sophos

68% of APJ organisations surveyed reported they were a victim of ransomware compared to 72% the year before Sophos , a global leader in innovating and delivering cybersecurity as a service, today released its annual State of Ransomware 2023 report, which found that the rate of ransomware attacks declined slightly in Asia Pacific and Japan (APJ) in 2022 with 68 per cent of organisations surveyed saying they were a victim to ransomware compared to 72 per cent the year before. In 71 per cent of r

7 Jun 2023 4:46 pm
Microsoft Imagine Cup 2023 World Finalists from Sri Lanka meet U.S. Ambassador Julie Chung

Her Excellency Julie J. Chung, United States Ambassador to Sri Lanka, met the two Sri Lankan teams that advanced to the World Finals of Microsoft Imagine Cup 2023, during her visit to the Microsoft Office recently. Team Sipsara and The Green Tycoon were among the 48 teams to compete at the world stage of Microsoft Imagine Cup 2023, the premier student technology competition where students develop solutions for some of the most pressing local and global issues in the categories of Earth, Educatio

7 Jun 2023 4:39 pm
Vision Care opens newest branch at Asiri Surgical Hospital

Vision Care, Sri Lankas largest vision and eye wear solutions provider, expanded its islandwide network with the opening of its latest branch located at Asiri Surgical Hospital, Colombo 05. Asiri Surgical Hospital is one of the pioneers in private healthcare offering a wide range of specialized surgical services and latest medical treatments with modern, advanced technology. The new branch was ceremonially opened by Vision Cares Chairman Dasantha Fonseka and Managing Director Janaka Fonseka, in

7 Jun 2023 4:36 pm
Sampath Bank commits to oceanic ecosystem conservation through A Breath to the Ocean programme

Sampath Bank, as one of the leading banks in Sri Lanka, is taking a significant stride towards preserving marine biodiversity and combating climate change with its groundbreaking initiative, A Breath to the Ocean. Launched as part of their corporate social responsibility efforts, this program aims to restore and protect the oceanic ecosystem of Sri Lanka, aligning with the United Nations Sustainable Development Goal No. 14: Life below Water. Marine biodiversity plays a vital role in ensuring a s

7 Jun 2023 4:33 pm
Softlogic Life launches Sri Lankas first-ever TV commercial powered by AI, featuring all-time music legends

Sri Lankas 2 nd largest life insurer Softlogic Life launched Sri Lankas first artificial intelligence (AI) TV commercial, recreating four of the most iconic music legends of the country; H.R.Jothipala, Milton Mallawarachchi, Clarence Wijewardena and Sunil Perera using deepfake technology. The creative campaign, which shows the four artists performing Softlogic Lifes iconic Leda Leda tune, is currently making waves across Sri Lanka. Brands across the globe have recognised the potential of deepfak

7 Jun 2023 4:29 pm
ComBank celebrates Poson with Pahan Gee recital by Bank staff

The Commercial Bank of Ceylon recently celebrated Poson with a traditional Pahan Gee recital performed by a 30-member choir comprising of staff of the Bank. The event held at the Navarangahala, was attended by many present and past staff members and their families. Representatives of the Banks corporate and senior management, including Chairman Prof. Ananda Jayawardane, Managing Director/ CEO Mr Sanath Manatunge and several directors graced the occasion. Popular Sri Lankan musician Mr Jagath Wic

7 Jun 2023 3:26 pm
Institute of Analytics UK Launches in Sri Lanka, Paving the Way for Data-Driven Innovation

Sri Lanka witnessed a momentous occasion as the Institute of Analytics UK was officially launched in a grand ceremony held at Courtyard by Marriot, Colombo City Center on 5 th of June evening. The event marked a significant milestone in the countrys journey towards harnessing the power of data analytics to drive innovation, growth, and societal progress. Imperial College of Business Studies, one of the robust higher education institutions in the higher education domain in Sri Lanka having its un

7 Jun 2023 3:24 pm
Leading Networking Guru to Headline Forum organised by the Ceylon Chamber and BNI

The Ceylon Chamber of Commerce in partnership with Business Network International (BNI) will host a Forum titled Building a Global Sri Lanka Networking the Way Forward, on June 13 th at the Cinnamon Grand Hotel Colombo. World-renowned networking guru and founder of BNI Dr. Ivan Misner, who has been dubbed the Father of Modern Networking by globally renowned media houses such as Forbes and CNN, will lead a panel of experts as they share insights and unique perspectives on leveraging the power of

7 Jun 2023 1:04 pm
MS Empress arrives at Hambantota with 1,600 passengers onboard

Sailing into Paradise: Advantis Welcomes Cordelia Cruises at Hambantota Advantis and Cordelia Cruises partner to pioneer cruise sailing operations around the island The MS Empress arrives with 1,600 passengers onboard Anticipates 80,000 tourist arrivals in the first 4 months alone Advantis appointed General Sales Agent and Port Agent in Sri Lanka for Cordelia Cruises Ushering in a new wave of inbound luxury cruise tourists to Sri Lanka, Advantis, the transportation and logistics arm of the Hayle

7 Jun 2023 1:03 pm
New Study: Women Entrepreneurs Are Vital for Long-term Continuity and Resilience of Sri Lankas Supply Chains

Building an inclusive distribution and retail network is key for long-term continuity and resilience of corporate supply chains in Sri Lanka, reveals a new study by the International Finance Corporation (IFC). The study examines the impact of enhancing female participation in retail and distribution networks on the growth of fast-moving consumer goods (FMCG) companies, based on a successful commercial intervention by IFC and Ceylon Biscuits Limited (CBL), one of Sri Lankas largest diversified fo

7 Jun 2023 12:20 pm
HNBF opens all-new Gold Loan Unit at Norochcholai branch

HNB FINANCE PLC, Sri Lankas leading integrated financial services provider, launched a new Gold Loan Unit at its Norochcholai branch located at Kalpitiya Rd, Norochcholai. The launch event was attended by key executives, including MD/CEO Chaminda Prabhath along with AGMs, product heads, and branch managers. The 58th Gold Loan Unit was established in response to the growing demand for gold loan services in the country. Existing and potential customers can now avail themselves of the companys inno

7 Jun 2023 11:54 am
Sri Lankas biggest seafood company inks $40 million deal with US importer

(SeafoodSource) Taprobane Seafoods and Direct Source Seafood have entered a strategic partnership to produce, market, and sell Taprobanes products in the United States. Taprobane Seafoods has 17 processing facilities, employing over 2,000 direct employees throughout the North-Western and Northern Provinces. They are committed to being a leader in sustainable and socially responsible seafood. Taprobane Seafoods is the largest seafood company in Sri Lanka . Itconducts vannamei and monodon shrimp

7 Jun 2023 11:51 am
Ajay Banga former Chairman of ICC becomes the 14th President of the World Bank

Ajay Banga takes on the post of the fourteenth President of the World Bank for a five-year term beginning June 2023. Mr Banga, a distinguished global leader and former Chairman of the International Chamber of Commerce (ICC), brings his new role a wealth of experience and expertise. His appointment follows a rigorous selection process conducted by the World Banks Executive Directors. Ajay was a staunch advocate for equitable and sustainable economic growth during his tenure at the International C

7 Jun 2023 11:04 am