Connect with us

Business

ComBank partners with CCC Residences to offer zero interest and zero fees investment scheme

Published

on

Commercial Bank’s Chief Operating Officer Sanath Manatunge (centre) and Colombo City Centre Chief Executive Officer Praveen Methil exchange the agreement in the presence of other officials

Buyers of apartments at Colombo City Centre (CCC) Residences can now enjoy the special benefits of a Zero interest and fees investment scheme which is a Developer Interest Bearer Scheme, following a partnership between the Commercial Bank of Ceylon and the developer of CCC Residences, the Abans Group.

Under this collaboration, customers can receive up to 80% of the purchase value of an apartment as a Home Loan from the Bank while CCC will undertake to pay the monthly interest on the loan for up to 24 months on the buyer’s behalf. Further, as an additional benefit, CCC will also pay the management fees for the first two years on behalf of the customer, thereby leaving the customer to pay only 20% to take over the units and pay nothing for the next two years.

The Home Loan tenure under this special scheme will be up to 20 years, the Bank said. Colombo City Centre will settle the monthly interest for up to 24 months at the prevalent market interest rate subject to a maximum interest amount.

Commenting on the partnership, Commercial Bank Chief Operating Officer, Mr Sanath Manatunge said: “We are happy to support one of the leading property developments in the country by facilitating the purchase of apartments for prospective buyers. With the Developer Interest Bearer Scheme in place, the payment burden on our borrowers is substantially reduced as they do not have to bear the interest cost of the loan and can move into their new apartments just paying the buyer’s contribution of 20%, which is a great benefit for the customer.”

 

 



Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Private taxi operators at BIA call for speedy rental relief as tourist arrivals dwindle

Published

on

Tourists in SL: Dwindling numbers

Private taxi operators at Bandaranaike International Airport are calling for urgent rental relief, stating that they are struggling to sustain operations after paying nearly Rs. 19 million in monthly rental fees amid a sharp decline in tourist arrivals during the off-season.

The operators said tourist arrivals have dropped by nearly 80%, severely affecting their income and making it difficult to continue meeting high operational costs.

“Only a small number of tourists are now arriving at the airport, and a majority of them are being taken by metered taxi operators, who pay only around Rs. 700 per ride as fees to Airport and Aviation Services, an operator said.

According to the operators, the six long-standing private taxi service providers at the airport each pay monthly rentals ranging from approximately Rs. 2.9 million to Rs. 4 million. In addition, they are required to maintain a minimum a fleet of six vehicles along with dedicated airport staff.

“What we are requesting is a temporary reduction in monthly rental payments for around three to four months until tourist arrivals improve and the industry returns to normal, they said.

The operators noted that they have been operating at the airport for more than two decades, providing transport services to both local and international travelers, while metered taxi services entered the airport transport sector only about two years ago.

They also alleged that metered taxi operators have been granted more favourable operating conditions and questioned the process through which those operators were allowed to operate at the airport.

Operators argue that the present financial burden has become unsustainable, given the sharp drop in business volumes and what they describe as an uneven competitive environment within the airport transport system.

“What we are requesting is a 50% reduction in monthly rental fees for a period of at least three months, they said.

They also raised concerns about the quality and condition of some vehicles operated by metered taxi providers.

“Passengers are often unaware of the condition of some of these vehicles until they enter them, which can compromise safety standards, one operator claimed.

In contrast, the private airport taxi operators say they maintain newer vehicles and employ experienced, professionally trained drivers to ensure higher standards of passenger safety and service quality.

The operators warned that failure to address the issue could have wider economic and social consequences. The six service providers collectively employ around 250 staff, and continued financial pressure may lead to job losses and a reduction in organised airport transport services.

By Hiran H Senewiratne

Continue Reading

Business

Refurbished AAC Call Box declared open

Published

on

The operation of Automobile Association of Ceylon(AAC) Call Boxes, in the past had provided yeoman service to many motorists including during the era of British planters. AAC services for members are a motoring security when they travel.

The Call Box in Nuwara Eliya was recently refurbished to provide a better and improved service to the Members in the area and the touring public. Now from this Call Box the motorists could get Road Side Assistance, Valuation Reports, Technical Advice and also issuance of International Driving Permits.

The refurbished Call Box at Nuwara Eliya was declared open by Dhammika Attygalle, President of the Association in the presence of S V Ganesh – Vice President, several Executive Committee members, Puthrasigamani, Life Member of the Association, Eng. C S Samarasekera of RDA- Nuwara Eliya, Devapriya Hettiarachchi, Secretary (AAC) and Eng. C L Liyanasuriya – Chief Engineer(AAC).

The services from the Nuwara Eliya Call Box are available from 8.00am to 5.00pm.

Call Technical Officer Sampath Madagama on 0767315696.

Continue Reading

Business

Ceylon Chamber of Commerce to host Sri Lanka Climate Summit 2026

Published

on

From Risk to Opportunity: Mainstreaming Climate Action into Sri Lanka’s Growth Story

As climate rules tighten globally and investor expectations shift from commitment to compliance, climate action is now directly tied to trade, competitiveness, and access to finance. Against this backdrop, The Ceylon Chamber of Commerce will host the second edition of the Sri Lanka Climate Summit on 9 June 2026 at the Taj Samudra Hotel, convening policymakers, industry leaders, financiers, and technical experts to focus on pathways for integrating climate action into Sri Lanka’s growth story.

Held as a biennial platform, the Summit returns this year under the theme “From Risk to Opportunity: Mainstreaming Climate Action into Sri Lanka’s Growth Story.” While the inaugural edition in 2024 focused on building awareness and advocacy, the 2026 Summit shifts the conversation toward implementation, technical readiness, and compliance as climate-related obligations begin to directly influence access to markets, finance, and investment.

Rather than treating sustainability as a standalone agenda, this year’s discussions will explore how climate considerations are becoming embedded across core areas of business and economic decision-making, from infrastructure and trade to finance, governance, digitalisation, agriculture, and supply chains.

Continue Reading

Trending