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Sampath Bank, which pioneered many financial innovations in the banking industry, including the payment of scrip dividends, has declared a considerably high final dividend for 2010 at Rs. 6.60 per share, exclusively in the form of a scrip dividend, subject however to a payment of 10% Withholding Tax on the dividend.
Lanka Clear (Private) Limited (LCPL) the cheque clearing arm of the Central Bank of Sri plans to implement a Common Payment System for all Automated Teller Machines (ATM) that will process transactions locally and Expressions of Interests (EoIs) have been called from vendors to supply Common ATM & Payment Card Switch.
Leasing experts Asia Commerce Limited (ACL) recently signed a Memorandum of Understanding (MoU) with Scienter Technologies (Pvt) Ltd to acquire their new fully integrated software solution - Destinity eFinancials to expand the firm's operations and establish itself as a finance company.
A new board was elected for Sri Lanka Singapore Business Council during its 13th Annual General Meeting that was held recently at the Ceylon Chamber of Commerce. Shamil Mendis, Group Director of Delmege Forsyth & Co., Ltd was elected President of the Council for the year 2010/2011.
Ran FM formally launched "Ran FM Jaya Apatai", a nationwide campaign in support of the Sri Lankan Cricket Team at Temple Trees on Saturday, the 8th of January 2011. The unveiling ceremony started off with the Signature Campaign. President Mahinda Rajapaksa was the first to affix his signature on a branded Ran FM cricket bat.
Sri Lanka's IT market was estimated to be worth US$327mn in 2010, just 2% the size of India's, but is expected to grow to around US$632mn within BMI's five-year forecast period. The computer market has comfortably been growing at a double-digit CAGR for the past several years, yet the penetration rate remains below 1%. Computerisation has only just got started in the government service.
Uncertai nties are looming about the deadline for the completion of the first terminal of the Colombo South Port, with Sri Lanka Ports Authority (SLPA) Chairman publicly saying that the completion of the terminal might get delayed by about 18 months.
Leema Creations won a Bronze award at the Entrepreneur of the Year 2010 competition organized by the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL). Leema Creations, a company engaged in interior designing of houses, offices, hotels, restaurants, shopping complexes and exhibition stalls, secured this award for the excellence of their products and services.
Along with the increasing usage of mobile phone handsets globally, the handset is becoming an excellent primary digital channel for the banking and financial players in the markets - mostly being emerging markets. These include m-banking, money transfers, m-wallets, and remittances.
The 10th SAARC Trade Fair was successfully concluded in Kathmandu from 15 to 19 December 2010, where a number of companies both from the large and SME sectors of SAARC countries participated to promote their products and services.
Emirates SkyCargo, a leading force in the industry drive towards e-freight, recently marked a milestone with its inaugural paperless flight. EK702, from Mauritius to Dubai, became the first flight on its global network to operate with a hold filled entirely with shipments which had been processed electronically. The Boeing 777-300ER, with a belly-hold capacity of 23 tonnes, transported a diverse load, including bank notes, flowers, fruits such l
The International Monetary Fund (IMF) last week released results from its inaugural Coordinated Direct Investment Survey (CDIS), the first worldwide survey of foreign direct investment positions. The results, published as an online database, cover investment positions at end-2009 for 72 participating economies. The survey will be carried out annually and the intention is to broaden coverage in terms of both geographical representation and breakdo
Sithaka Tea Factory famous for its quality of teas being produced on a weekly basis and obtaining weekly top prices at the Colombo tea auctions recorded and established an all time record price for the BOP-1 grade at Rs.770 on 22 December tea auctions conducted by Deshan Bandaranayake of John Keells Plc.
It's official. The great Indian growth story looks set for a sequel in 2011 as the economy readies to wipe out any lingering traces of the global recession. Strong growth across sectors promises not just to beat back the recession blues but also cement India's position as a leading growth center in Asia alongside China.
SriLankan Airlines will re-launch its services to Kochi from March 1st 2011, increasing its growing portfolio of Indian destinations to seven. The resumption of flights links Colombo and Kerala's commercial capital Kochi on all seven days of the week.
HSBC Colombo Fashion Week 2011 is scheduled to take place on the 4, 5, 6, February 2011 at the Grand Ballroom, Hilton Colombo. This year HSBC Colombo Fashion Week was the biggest to date and it provided a strong boost to the fashion design industry of Sri Lanka.
Nivasie Developers - a leading name in the housing development industry of Sri Lanka came together with the financing giant Sampath Bank recently to offer easy, flexible and affordable home financing solutions to their customers.
Shoppers who prefer not to let their feet do the walking can now enjoy even more fun, and extra personalised, convenient and secure online shopping from the comfort of their homes or offices with the recent revamping of the official ODEL website.
Bharti airtel Lanka, a subsidiary of Bharti airtel, a leading global telecommunications company with operations in 19 countries across Asia and Africa, today unveiled its new global identity in Sri Lanka, following the successful international campaign that commenced in India recently.
The vegetable oil industry has witnessed significant growth over the past few years on account of a growing population as well as the rising demand for alternative energy sources. Among the various types of vegetable oil, palm oil (including palm kernel) accounted for the largest share of the global production in 2009, followed by soybean and rapeseed oil.
CBSL maintains policy interest rates at their current levels
Fitch affirms Sri Lanka at ’Restricted Default’
Tourist arrivals below expectation: SLTDA
Sri Lanka economy slows ahead of presidential elections
Planned cuts to former presidents’ perks face legal hurdles
Govt. to conduct probe into e-visa fraud: Vijitha Herath
African leaders pour in congratulatory messages to President
Police security assigned for former MPs withdrawn