Business
DFCC signs MOU with Havelock City, enabling ease of transactions to purchase luxury apartments
From left to right: Ann Silva (Legal Officer, DFCC), Dulshini Jayathilake (Assistant Relationship Manager, DFCC), Pravir Samarasinghe (Group CEO/Director, Overseas Realty (Ceylon) PLC), Gillian Edwards (Senior Vice President Consumer Banking, DFCC), Samathri Kariyawasam (Vice President General Legal, DFCC), Ralph De Lanarolle (Director, Overseas Realty (Ceylon) PLC), and Shiromi Balasuriya (Head of Legal/Company Secretary, Overseas Realty (Ceylon) PLC).
In an effort to provide potential homeowners with specialised DFCC Home loan services, DFCC Bank recently signed an MOU with Havelock City. As a result of this, DFCC has proposed a special home loan product specifically designed for customers who wish to purchase Havelock City apartments. Structured loan schemes, grace periods and early settlement fee waivers are all vital features of this home loan product from DFCC.
Havelock City is the largest mixed-use development built of 18 acres of prime land in the heart of Colombo with both residential and commercial components. The residential apartments were built in Phases and the fourth and final phase is currently nearing completion and will be ready for occupation by February 2021 with luxury units available for purchase. In addition to phase 4, phase 3 too has a limited number of move-in ready units with COC approval for discerning home buyers.
The Clubhouse at Havelock City offers its residents a range of facilities and amenities from squash courts, gymnasiums, swimming pools, banquette halls, salon, launderette, mini-cinema, mini-market, and a café. The exclusive 7-acre garden with lush foliage provides a unique space within the city to experience a healthy outdoor lifestyle including walking paths, jogging tracks, open air exercise corners and a mini-golf putting green. The development is a brainchild of S P Tao, chairman of Overseas Realty (Ceylon) PLC a BOI approved flagship company who is also the owner, manager, and the developer of the iconic World Trade Center Colombo.
DFCC Bank extends a very special Home Loan to any individual securing an apartment at Havelock City. A Fixed income earner, professional or a self-employed individual with an income sufficient to meet the monthly loan commitment is eligible to apply for a DFCC Home Loan. Applicants could opt for a pre-approved Home Loan for which credit approval will be provided within 3 working days. A team of professionals are available at every DFCC Branch to offer extended support throughout the transaction.
The DFCC Home Loan offered to customers of Havelock city apartments include very special features such as a Grace period, waivers of early settlement fees and structured facilities.
DFCC Bank has a strong branch network which is strategically located throughout the country to cater to the needs of customers. They also have a fleet-on-street comprising of over 140 Banking Executives dedicated to serve the customer at their doorstep. As customers face the challenge of finding time to visit the bank, DFCC is fully geared to serve their customers at a time and place of their convenience. Furthermore, they are geared to serve their customers through the available digital channels where applying for a loan is just a click away.
Business
“ViYASA” National Business Facilitation Centre (NBFC) to be opened tomorrow (22)
The National Business Facilitation Centre (NBFC), which is being established under the Presidential Secretariat with the aim of removing administrative and regulatory barriers that exist among government institutions in relation to investment and industry and expediting these processes, will be opened tomorrow (22).
The centre is being established on the President’s initiative with the aim of bringing about a positive transformation in the industrial sector. The centre will provide solutions to issues that arise in dealing with the government machinery when starting and operating a business, while also coordinating with the relevant government institutions to provide the necessary facilities.
The “ViYASA” National Business Facilitation Centre (NBFC) has been established at Building C-80, Hector Kobbekaduwa Mawatha, Colombo 07, and is headed by Senior Additional( Secretary to the President, Seevali Arukgoda.
The centre will be opened under the patronage of Minister of Labour and Deputy Minister of Finance and Planning Dr Anil Jayantha Fernando and Minister of Industry and Entrepreneurship Development Sunil Handunnetti, with the participation of Secretary to the President Dr Nandika Sanath Kumanayake.
The website https://nbfc.presidentsoffice.gov.lk is also scheduled to be officially launched on the occasion.
President’s Media Division)
Business
Charting a worker-centered AI future: Colombo hosts landmark ITF conference
By Sanath Nanayakkare
Artificial intelligence and automation present serious challenges for workers – such as job consequences seen in docks and rail systems – and emphasises that workers cannot simply stop technological progress. By gathering young trade unionists in Sri Lanka, the ITF aims to establish key principles for engaging with technology, ensuring workers have a strong voice at the bargaining table, and encouraging constructive social dialogue with corporations and governments.
These compelling words from ITF General Secretary Stephen Cotton underscored the urgent reality facing modern labor as rapid technological advancements sweep across global industries.
Confronting this shifting landscape head-on, the International Transport Workers’ Federation (ITF), in partnership with the National Union of Seafarers of Sri Lanka (NUSS), convened a ground-breaking conference on artificial intelligence in Colombo from September 15–17.
As the ITF’s first-ever AI-focused global conference and the first of its kind hosted in Sri Lanka, the landmark event marked a critical milestone in balancing technological innovation with worker-centered safeguards.
Representing over 16.6 million transport workers worldwide, the ITF designed the gathering to tackle the multifaceted impacts of AI on safety, operations, workforce development, and governance. Rather than resisting progress, the conference focused on proactive engagement, establishing guiding principles to protect workers’ rights and privacy both at sea and on land.
Key discussions centred on sharing best practices for upskilling and reskilling transport personnel, ensuring that human oversight remains central to AI-driven logistics, routing, and maintenance.
Reflecting on the historic nature of the event, Boa Athu, CEO of National Union of Seafarers Asia Pacific, noted that the conference represented a monumental moment as AI emerges as a permanent fixture of contemporary life.
Highlighting NUSS’s pride in hosting the event in Colombo, Athu emphasised that AI offers transformative potential when guided by strong social dialogue, equitable access to training, and robust governance safeguards.
Ultimately, the Colombo conference demonstrated that the future of transport must be shaped by those who keep the world moving. By uniting international labour leaders, affiliates, port operators, and regulators, the event laid a vital foundation for inclusive policy frameworks that champion fair labour standards, securing a powerful voice for workers in an automated tomorrow.
Business
Bridging the digital divide: Sri Lanka’s airport licence challenge
By Sanath Nanayakkare
As Sri Lanka experiences a surge in visitors from its largest tourist market, India, a modern administrative hurdle has emerged at Bandaranaike International Airport (BIA).
While nations like India and Pakistan have successfully transitioned to fully digital driving licences and cashless ecosystems, Sri Lanka’s Department of Motor Traffic counter still requires a physical card to issue temporary local permits, The Island Financial Review learns.
This mismatch creates significant friction for independent travelers who rely entirely on smartphones and cloud-stored credentials. Tourists turned away at the airport – and sometimes redirected to the Werahera office in vain – find themselves unable to legally rent and drive vehicles. Consequently, this policy gap harms local car rental operators, causes tourist frustration, and deprives the government of valuable permit revenue.
The situation highlights a distinct irony: Sri Lankan motorists easily travel abroad using International Driving Permits that are readily accepted in India and Pakistan, yet local infrastructure cannot reciprocate due to outdated verification systems.
Recognizing the problem, Department of Motor Traffic officials have noted that upgrades and new equipment are currently in the works to integrate foreign digital platforms.
For a nation aggressively pursuing a national digitalisation drive, rapidly modernising these transport protocols is essential to keeping pace with global travelers and unlocking the full potential of its tourism economy.
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