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IMF delays Sri Lanka’s loan discussion on political crisis

Reuters – The International Monetary Fund (IMF) said on Tuesday it had delayed discussions on Sri Lanka’s next loan tranche due to the country’s political crisis. The IMF has disbursed over $1 billion out of a $1.5 billion three-year extended fund facility (EFF) loan it agreed in 2016. The aim was to avert a financial…

(0)Comments | November 21, 2018 7:34 am

SLT Group 2018 3Q,YTD profits up by 23%. EBITDA up by 16%

The National Telecommunication service provider, Sri Lanka Telecom (PLC) released its Company and Group financial results for the 9 months ending 30th September 2018 today. The Group comprises of the holding company Sri Lanka Telecom (PLC) and its eight subsidiaries including mobile arm Mobitel (Pvt.) Ltd. (Mobitel). With an impressive Year on Year (YoY) growth…

(0)Comments | November 21, 2018 7:14 am

Sri Lanka rupee hits record low amid continued political uncertainty

Reuters – ** The Sri Lankan rupee fell to an all-time low of 177.35 per dollar on Monday, as political uncertainty outweighed the positive impact of a policy rate hike, sources said. ** Stocks closed weaker for the second straight session due to political uncertainty and the policy rate hike. ** The political uncertainty remained…

(0)Comments | November 21, 2018 6:43 am

CSE and SEC host Regional Investor Forum in Ratnapura

The Colombo Stock Exchange (CSE) and the Securities and Exchange Commission of Sri Lanka (SEC) saw the successful conclusion of yet another regional investor forum organized as part of an island-wide awareness drive. The forum which was held in Kuruwita, drew a strong interest among the investor community based in and around Ratnapura. This event…

(0)Comments | November 20, 2018 12:03 pm

Panasian Power continues success streak with 452% growth in PAT during 1H 2018

Panasian Power PLC (PAP.N), one of Sri Lanka’s leading green energy solutions providers, posted a consolidated net profit of Rs. 54 million for the quarter and Rs. 153 million for the six months ending 30th September, 2018. This represents a 110% and 452% increase respectively over the corresponding period of the previous year. Furthermore, operating…

(0)Comments | November 19, 2018 5:51 pm

Technical Session on “Forging Ahead with Resilience” for Boards of Directors of Licensed Banks

The Central Bank of Sri Lanka with a view to ensuring a stronger and dynamic banking sector which is capable of proactively facing challenges in digital era, hosted a Technical Session to further enhance and update the knowledge of Boards of Directors, Chief Executive Officers and other Key Management Personnel of all licensed banks operating…

(0)Comments | November 19, 2018 10:59 am

Sri Lanka rupee hovers near record low amid continued political uncertainty

Reuters – ** The Sri Lankan rupee closed steady on Friday, hovering near its all-time low hit in the previous session, as political uncertainty outweighed the positive impact of a policy rate hike, sources said. ** Stocks closed weaker due to political uncertainty and the policy rate hike. ** The parliament descended into chaos for…

(0)Comments | November 17, 2018 1:13 pm

Janashakthi Life continues to deliver steady growth in Q3

Janashakthi Insurance PLC (Janashakthi) continued on its growth journey, registering a Gross Written Premium (GWP) of Rs.2.2 billion as at 30th September, 2018. The Insurer ended the period under review with post-tax profits of Rs.7.4 billion, including the gains from the sale of Janashakthi General Insurance Limited. The Company’s investment income stood at Rs.1,125 million,…

(0)Comments | November 16, 2018 6:36 pm

Top professional Asite Talwatte appointed as a Director of NSB

Asite Talwatte, a top professional and a veteran in the Corporate world has been appointed to the Board of National Savings Bank by the Minister of Finance and Economic Affairs. Mr.Talwatte joined Ernst & Young where he worked in Assurance, Business Risk and Advisory Services for 37 years prior to his retirement in March 2016. At…

(0)Comments | November 16, 2018 10:30 am

Sri Lanka rupee falls to record low on continued political uncertainty

Reuters – ** The Sri Lankan rupee fell to an all-time low on Thursday, continuing its record-setting spree, as political uncertainty outweighed the positive impact of a policy rate hike, sources said. ** Stocks closed firmer for a fourth session in five, but turnover was dull due to political uncertainty and the policy rate hike….

(0)Comments | November 16, 2018 9:50 am