Company Overview and News

Fitch affirms ratings on 9 Sri Lankan banks; outlooks stable

2018-10-01 lankabusinessonline
Oct 01, 2018 (LBO) – Fitch Ratings has affirmed the Long-Term Issuer Default Ratings (IDRs) of nine Sri Lanka-based banks and has assigned a stable outlook for these banks.

German firms in Sri Lanka committed for further investments: survey

From left : BOI Director General Duminda Ariyasinghe, Allianz Asia Pacific Chief Operating Officer Dr. Ruediger Schaefer, AHK Sri Lanka Chief Delegate Andreas Hergenroether, Minister of Development Strategies and International Trade Malik Samarawickrama, Ambassador of Germany to Sri Lanka Jörn Rohde and, EDB Chairperson Indra Malwatte , National Chamber of Commerce President Sujeeve Samaraweera Pic by Pradeep Pathirana

Former ComBank CEO on two listed firm boards

Former Commercial Bank CEO Jegan Durairatnam, who recently retired, has been appointed to the director boards of two listed firms—a bank and a hotel owning company.

Dinesh Weerakkody To Be Appointed PM’s “Point Person” For Tourism Promotions

2018-08-03 colombotelegraph
Top corporate leader and a close associate of Prime Minister Ranil Wickremesinghe, Dinesh Weerakkody is entrusted with the task of resurrecting the Sri Lanka Tourism Promotional Bureau (SLTPB), which is currently in the doldrums, Colombo Telegraph learns.

Impairment provisions affect Sri Lanka’s DFCC Bank bottom line

2018-07-30 lankabusinessonline
July 30, 2018 (LBO) – Sri Lanka’s DFCC Bank, the banking arm of the DFCC Group reported a drop in profit for the second quarter amidst a challenging business environment.

China’s Xi offers fresh US $ 295mn grant to Sri Lanka

President Maithripala Sirisena shakes hands with Chinese President Xi Jinping during former’s state visit to China in March 2015

Guardian Acuity Asset Management Unit Trust Funds bags Gold and Silver 

2018-07-22 lankabusinessonline
July 22, 2018 (LBO) – Guardian Acuity Asset Management underlined its position as one of Sri Lanka’s leading unit trust management companies, winning the Gold and Silver awards for the Best Unit Trust Fund at the CFA Sri Lanka Capital Market Awards 2018, held in Colombo Tuesday 26th June 2018.

National Export Strategy gets Cabinet approval

Sri Lanka’s Cabinet of Ministers has approved the National Export Strategy (NES)—a five-year strategy aimed at increasing exports and generating enhanced revenue for Sri Lanka’s small and medium enterprises and exporters, a communiqué by the Export Development Board (EDB) said. The EDB, Sri Lanka’s apex body for export promotion, said the implementation of the NES would increase Sri Lanka’s export revenue to US $ 28 billion by 2022.

Tourism industry moves to promote career prospects at school level

Sri Lanka’s tourism sector that is gathering steam to become the top revenue earner for the country saw its potential and opportunity showcased to state school principals yesterday, which was an effort taken by the key stakeholders to fuel the sector with the much-needed human resources.

Navin calls to end populist govt. intervention in rubber industry

By Nishel Fernando Plantation Industries Minister Navin Dissanayake yesterday asserted that the populist government interventions in Sri Lanka’s rubber industry have indirectly led to subsidization of big businesses as well as to corruption, while emphasising that the price stability of natural rubber should be a key priority for policymakers on par with the increasing productivity, which requires pragmatic decision-making.

Sancharaka Udawa 2018

The 8th edition of the tourism and travel fair ‘Sancharaka Udawa’ was inaugurated by Tourism Minister John Amaratunga at the BMICH yesterday. The two-day event which is being organized by Sri Lanka Association of Inbound Tour Operators (SLAITO) and Sri Lanka Tourism Promotion Bureau (SLTPB), showcases products of over 250 exhibitors, and expects over 10,000 visitors this year. Picture shows the Tourism Minister inspecting some products on display.

DFCC group profits drop in Q1 2018

2018-05-01 lankabusinessonline
May 01, 2018 (LBO) – Sri Lanka’s DFCC Group recorded a profit before tax of 1,545 million rupees and profit after tax of 1,110 million rupees as compared to 1,647 million rupees and 1,301 million rupees respectively in the comparative period in 2017.

UK keen to expand direct investments in Sri Lanka

The UK Secretary of State for International Trade Liam Fox has said that Britain is ready for direct investments in Sri Lanka while increasing its existing investments in the country. According to President Maithripala Sirisena’s media division, the British government will take necessary measures in this regard in the near future.

DFCC relaunches their credit cards

2018-04-17 lankabusinessonline
DFCC Bank relaunched their Credit Card range at a special event on 28 March at the Cinnamon Grand, Colombo amidst a large gathering of clients, prominent personalities, Directors, CEOs, top Executives and Business Leaders of the industry. Adding a nice twist to the event, a fashion show was staged depicting the variety of cards the Bank offers. In a symbolic gesture recognising that DFCC Bank’s current success is based on the vision and efforts of those who have gone before, the first set of Credit Cards were handed over to former Chairman, Mr Rajan Brito, and former CEOs of DFCC Bank Mr Moksevi Prelis, Mr Nihal Fonseka and Mr Arjun Fernando and Mr L.

President to deliver keynote address at Commonwealth Business Forum

President Maithripala Sirisena, who arrived in London on Sunday night to attend Commonwealth Heads of Government Meeting (CHOGM) 2018, is scheduled to address the Commonwealth Business Forum tomorrow.

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