According to the latest external trade data released by the Central Bank, country’s trade deficit narrowed in June 2020 (year-on-year), with a more than expected rebound in merchandise exports and notable reduction in merchandise imports on account of restrictions on non-essential imports. The deficit in the trade account narrowed in June 2020 to US dollars…
The Ceylon Tobacco Company’s performance in the three months ended 30th June 2020, has been significantly impacted due to the lockdown measures and impact to National as well as personal economies of consumers owing to the Covid-19 pandemic, the company said in its latest quarterly financials. During the period under review, company’s sales volumes declined by…
Sri Lanka’s exports have surpassed the $ 1 billion mark in July after six months time period where a similar achievement was only recorded in January during this year. Export Development Board (EDB) Chairman Prabhash Subhasinghe mentioned, “We have witnessed a phenomenal increase in exports in July 2020 with a new record for the year….
The Hayleys Group remained resilient amidst unprecedented challenges to record a pre-tax profit of Rs.1.17 billion in the first quarter of the financial year compared to a profit of Rs.285.26 million in the corresponding quarter of last year. The improvement in profitability reflects the strong performance of the Group’s export-oriented businesses and ongoing focus on…
Issuers of COVID-19 bonds have been in the spotlight in the sustainable bond markets in recent weeks. The focus has been on what COVID-19 bonds are, who can issue them and how they can be aligned with current market standards, such as the Social Bond Principles. However, a number of investors have come out with…
Panasian Power PLC, has entered into a Power Purchase agreement with the Ceylon Electricity Board (CEB) on 28 July 2020, for the sale of electricity from its 3.0 MW Rathganga Hydro Power Plant. The signed agreement is valid till 4 July 2024 and has the provision for an extension up to 4 July 2039. Panasian…
SriLankan Airlines wishes to clarify its position with regards to the temporary suspension of the Colombo – Shanghai operation by the Civil Aviation Administration of China (CAAC) for a period of four weeks. The airline operated a charter flight with 223 Chinese national onboard from Dubai to Shanghai via Colombo on the 7th of August 2020. Prior to this flight SriLankan operated two similar flights from Dubai…
The Women’s Chamber for Digital-Sri Lanka has congratulated the newly elected Prime Minister Mahinda Rajapaksa and the new parliament and expects Government support to improve female participation in the Tech/Digital sector of Sri Lanka. Following is the WCDSL statement made by chairperson Jayomi Lokuliyana. On behalf of the Board of Directors and Membership of WCDSL,…
CEO’s Review – Hemas Holdings PLC Hemas Holdings PLC reported a consolidated Group revenue of Rs. 13.0 billion, a decline of 1.6% during the first quarter of the financial year 2020/21, compared with the same period last year. Group EBIT at Rs. 415 million for the period is Rs. 395 million higher than the previous…
Pre-tax profitability static year-on-year at LKR 5 Bn Post-tax profitability up by 34% to LKR 3 Bn Healthy balance sheet expansion of 6% to LKR 562 Bn Loan book expansion of 5% to LKR 429 Bn and customer deposits expansion of 6% to LKR 428 Bn Cost to income ratio improved to 36% CBSL moratorium…
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