Strong top line performances across the Hayleys Group and the addition of recent strategic acquisitions resulted in a 37% YoY increase in turnover upto Rs. 112.3 billion during the nine months to 31st December 2017 while gross profits expanded by 29% YoY up to Rs. 24 billion. Increases in raw material prices and adverse weather…
Sri Lanka has witnessed unprecedented growth and development over the recent past as evidenced by rising income levels which stood at US$ 3,759.20 by the end of 2017. While the economic impacts of this remarkable growth trajectory are clearly defined, increasing prosperity tends to be accompanied by changes in lifestyles and increasingly sophisticated demand for…
The Monetary Board of the Central Bank of Sri Lanka on 14th February 2018, acting in terms of the Regulations made under the Registered Stock and Securities Ordinance and the Local Treasury Bills Ordinance, has decided to extend the suspension from carrying on the business and activities of a Primary Dealer by Pan Asia Banking…
nova2i tops Rs. 1bn sales within 2 months Singer Sri Lanka, the exclusive national distributor for Huawei smartphones has successfully recorded over 1 billion worth of Huawei smartphones across Sri Lanka, consecutively during the months of November, December 2017 and January 2018. During the month of December Singer was able to achieve 1.5bn worth of…
The members of commission to inquire and report the malpractices in Sri Lankan airlines, Mihin Air Ltd, Sri Lankan catering Ltd, during the period of 6th of January 2016 to 31 of January 2018 were given appointments at the presidential secretariat by President Maithripala Sirisena. Retired Supreme Court Judge Anil Gunarathna has been appointed as…
Considering the recent developments in the domestic and international macroeconomic environment, the Monetary Board, at its meeting held on 14 February 2018, was of the view that the current monetary policy stance is appropriate and decided to maintain the policy interest rates of the Central Bank of Sri Lanka at their present levels. The decision…
Reuters – Sri Lankan shares fell for a second straight session on Wednesday as political uncertainty after a defeat of the two ruling coalition parties in a local poll hurt investor sentiment. The ruling coalition government of President Maithripala Sirisena’s centre-left Sri Lanka Freedom Party and Prime Minister Ranil Wickremesinghe’s centre-right United National Party suffered…
Extending a winning legacy that spans over 29 years in the field, HNB won the award for Most Innovative Microfinance Bank in Sri Lanka at the recently concluded International Finance Magazine Awards (IFM) 2017 in Singapore. Organized by International Finance Magazine with a view to celebrating individuals and organisations in the international finance industry that…
Cites substantial recent EPA study, growing body of scientific evidence showing no ill effects to human health Warns of crop losses upto Rs. 20 billion per annum, increased loss to smallholders Calls on TRI to urgently stipulate alternatives acceptable to buyers and feasible for producers Demands scientific, evidence based justification for continuation of ban …
For the nine months ended 31st Dec,2017 the overall turnover was on par with the previous year’s sales of Rs.5 Billion mark. The domestic sale for the period was Rs. 3,375 Million as against the previous year’s Rs. 4,065 Million depicting a drop of 17%, whilst the export market showed a growth of 70% from…
Video Story
