Connect with us

Business

DFCC Bank Title Sponsor of Sri Lanka vs Zimbabwe ODI Series 2022

Published

on

DFCC Bank is delighted to announce the Title Sponsorship for the upcoming Sri Lanka Vs Zimbabwe DFCC Bank ODI Series 2022 featuring the best in young talent from both countries. As the Bank for everyone, DFCC Bank is proud to to be associated with Cricket to reach out the broader segments of the country to enhance its strong position in the banking landscape.

The upcoming cricketing epic will span three day-night one-day internationals (ODIs), as part of the ICC Super League, and have been scheduled for the 16th, 18th and 21st of January, all to be played at the Pallekele International Cricket Stadium in Kandy. Zimbabwe is currently ranked in last place within the Super League table, while Sri Lanka is in sixth place in the 13-team league. The Super League acts as a key qualification-path to the 2023 ODI World Cup, with the top eight teams qualifying directly, make the upcoming DFCC Cup contest one to watch, as it has the potential to provide a significant boost to either nation in their efforts to qualify.

Having shown a promising revival in their last few international series, and signs of the potential within the budding new group of players, the Sri Lankan cricket team looks set to take part in yet another exciting challenge, bound to be full of twists, surprises and overall growth.

‘DFCC Bank is honoured to have stepped forward as the Official Title sponsor of the DFCC Bank ODI Series 2022, an integral one-day international series that is part of the ICC Super League,” stated Thimal Perera, CEO of DFCC Bank. ‘As the title sponsor, we hope to support the national team by providing an excellent platform in the form of the DFCC Bank ODI Series 2022, one that will allow the team to mould the players and hone their skills on the path to future glory. We are truly delighted to have partnered with the series, and look forward to the all the action and entertainment during next week.”

DFCC Bank has strived to consistently support Sri Lanka cricket over the years and hopes that the upcoming series will provide Sri Lanka’s cricket fans and well wishers an opportunity to support the national cricket team, setting them on the path to future glory ahead of the upcoming Cricket World Cup, next year in 2023.



Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.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

Business

Seven factors of concern at upcoming Monetary Policy Review

Published

on

by Sanath Nanayakkare

The Central Bank of Sri Lanka (CBSL) is scheduled to announce its latest monetary policy review on 20th January 2022, with all eyes on dwindling foreign reserves and foreign currency exchange in the country.

In this context, First Capital Research has named 7 factors of concern that could be taken into account at the upcoming monetary policy review. They are as follows.

* Foreign Reserves USD 3.1 billion – Dec 2021

* Inflation CCPI 12.1% – Dec 2021

* GDP Growth -1.5% – 3Q2021

* Private Credit LKR 60.5 billion – Nov 2021

* 03M T-Bill rate 8.38% as at 12.01.22

Liquidity and CBSL Holdings LKR -364.0 billion and LKR 1.42 trillion

Balance of Trade (BOT) and Balance of Payment (BOP) USD -6.5 billion and USD -3.3 billion for Jan-Oct 21

First Capital Research’s Policy Rate Forecast – Jan 2022-Apr 2022 notes that they believe the CBSL may highly consider tightening the monetary policy rates in this policy review but given the concerns over economic growth, there is a probability of 40% for CBSL to maintain its policy stance at current levels.

“With high frequent indicators improving in line with expectations, we have eliminated any probability of a rate cut. We expect a continued increase in probability for a rate hike in order to prevent overheating of the economy amidst the given fiscal and monetary stimulus,” they said.

As per First Capital’s view, CBSL either can choose to hike policy rates by 50bps or 100bps or hold policy rates steady, while a rate cut is off the table due to the high debt repayment and the high domestic borrowing requirement.

First Capital believes that there is a 60% probability for a rate hike due to the remedial actions required in achieving external stability.

However, there is also a 40% probability to maintain the policy rates at its current level in order to further improve the high frequency indicators.30%, they noted.

Continue Reading

Business

Sri Lanka’s dash brand enters international markets

Published

on

Multichemi International Ltd, which manufactures and distributes a wide range of products under dash, one of Sri Lanka’s leading detergent and household care brands, has begun exporting its products to several international markets in Asia and Oceania, with plans also to enter Africa. The dash brand includes a wide range of products in car care, household care, home fragrances and laundry care sectors. Multichemi International Ltd, which has been awarded ISO 9001:2015 certification, is a Sri Lankan pioneer in environment-friendly cleaning products, having launched the country’s first biodegradable, safe cleaning products over 28 years ago.

Amila Wijesinghe, General Manager of the Company said,”Having conquered the domestic market, we are now ready to capture the international market. We are confident that our products which are of high quality will receive a good demand overseas as well. The feedback we have received so far from our overseas customers is extremely encouraging. We are dedicated to taking our products to the international market, to bring in foreign currency to the country and help uplift the economy”,

Continue Reading

Business

Janaka Abeysinghe appointed SLT CEO

Published

on

Sri Lanka Telecom PLC has announced the appointment of Janaka Abeysinghe as its Chief Executive Officer (CEO) with effect from February 1, 2022.

The incumbent CEO Kiththi Perera will be overseas on leave for a period of two years to pursue higher studies, according to a stock market filing by the company.

Abeysinghe joined SLT in 1991. In his present role, he leads the enterprise and wholesale business of SLT that provides integrated voice and data solutions to enterprises, government institutions, domestic telco operators and global wholesale carriers.

In his career at SLT spanning 29 years, he has held a number of senior positions, including general manager Enterprise and International Sales and has extensive experience in the areas of Enterprise Digital Services, Enterprise Communications Solutions, Data Communications, Business Development, Domestic and International Switching Operations and Global Wholesale Voice & Data Business.

He holds a Master’s Degree in Electrical and Computer Engineering from the University of Kansas, USA and a BSc degree in Electronics and Telecommunications Engineering with a First Class Honours from the University of Moratuwa.

Continue Reading

Trending