The Australian Aid programme through S4IG – Skills for Inclusive Growth will be implementing a Pandemic Preparedness course with the direction of Sri Lanka Tourism Development Authority (SLTDA) targeting the Small and medium-sized enterprises (SMEs) of the hospitality industry. The programme was launched on 12 August 2020 in Colombo by David Holly, Australian High Commissioner for Sri…
Sri Lanka’s banking sector will face a sharp increase in non-performing loans (NPLs) in the second- quarter and beyond with the expiration of the moratorium period, analysts said. “Asset quality in banks and finance companies was deteriorating for the last 3 years. The construction sector, which the banks had the highest credit exposure to, often suffered liquidity…
99X Technology is pleased to announce that Tracified, a company incubated within its innovation center/accelerator StartupX Foundry, has received an equity investment from 360ip, a venture capital firm based in Tokyo. Tracified is a blockchain-based traceability solution. Mano Sekaram, CEO and Co-Founder of 99X Technology and Founder of StartupX Foundry commented: “I’m delighted to see…
The global economy took a steep downward trend with the outbreak of COVID – 19 pandemic epicentre shifting from China and East Asia to the United States and Europe. Most countries declared prolonged lockdowns and movement restrictions with a view to controlling the disease, which severely hampered worldwide economic activity and global trade from March…
Consolidating its stance as a Sri Lankan family business expert, Capital Alliance Partners Limited (CAL) advised Sunshine Holdings PLC on the acquisition of Daintee Limited. The transaction was structured by CAL to enable the Sunshine Group to expand its operations in the FMCG space with the use of Daintee’s well established brands, thereby maximizing the…
First Capital Holdings PLC (the Group) the only listed investment bank in Sri Lanka, recorded a Consolidated Profit after Tax of LKR 1.07Bn for the year 2019/20, amidst negative headwinds that saw Sri Lanka, reporting subpar economic growth for the third consecutive year. The results show a significant growth compared to LKR 8Mn in the…
Colombo Chamber of Commerce felicitates Prime Minister Mahinda Rajapakse and the new Cabinet and State Ministers appointed with the clear mandate given by people of Sri Lanka at the general election. The mandate further conveys the confidence placed on President Gotabaya Rajapakshe to deliver the aspirations of the Nation which was conveyed beyond any doubt…
Sri Lanka Pharmaceutical Manufacturers’ Association President Sanjaya Jayaratne lauds new government The Sri Lanka Pharmaceutical Manufacturers’ Association (SLPMA) welcomed the newly elected government’s decision to create a new State Ministry for Pharmaceuticals Manufacture as a crucial positive step towards the strengthening of the local pharmaceuticals industry. The Association iterated the importance of its contribution to…
Advances grew by LKR 19Bn to 292 Bn (7% growth) Deposits grew by LKR 30 Bn to 278 Bn (12% growth) DFCC Group recorded a PAT of LKR 1.8Bn for the first half of the year 2020 Impairment charge of 1.5Bn for the first half of the year 2020 Tier I Capital ratio of the…
Prime Minister Mahinda Rajapaksa has been appointed as the new Finance Minister of Sri Lanka. The new ministerial structure consisting 28 Ministries and 40 State Ministries was announced by President Gotabaya Rajapaksa through an extraordinary gazette notification. Accordingly, two-state ministries were appointed under the Finance Ministry. They are the State Minister for Finance, Capital Market…
Video Story
