Union Bank demonstrated a healthy performance amidst the challenging macro-economic environment in the year 2019, recording a significant increase of 50% in profit after all taxes. Amidst sector shocks that prevailed throughout, the Bank strived for revenue optimisation through portfolio re-alignment and prudent cost management. During the year, the Bank had paid 66% of its…
LOLC ascended by one position in the Business Today’s Top 30 edition of 2018-2019 to secure the third position in one of the most acclaimed rankings that recognises the exceptional performance of Sri Lanka’s top corporate entities. The Business Today Top 30 awards ceremony was held recently at the Grand Ballroom of the Hilton Colombo…
Today marks (27 February) five years since the infamous bond scam of February 27th, 2015 rocked the country with the biggest ever financial loss. The matter still remains in a questionably doubtful state regarding its impending outcome. The allegations of insider dealing involve a private company named Perpetual Treasuries. One of the major shareholders of…
For Colombo-Delhi-Colombo flights, the introductory return fares start from LKR 35,512 For Colombo-Bengaluru-Colombo flights, the introductory return fares start from LKR 24,900 Colombo is GoAir’s 1st international destination launch in 2020 In continuation of its expansion in South Asia, GoAir – Asia’s most trusted, punctual and fastest growing airline – has announced its new direct…
To strengthen the safety and security of Tourists and increase the tourist police presence in the country, State Minister of Tourism Promotions Arundika Fernando along with Sri Lanka Tourism Officials met with the Acting IGP of Sri Lanka Police Chandana Wickramaratne last week. Considering the current situation, several recommendations were discussed. All popular tourist destinations…
Sri Lanka’s Ceylon Tobacco Company PLC (CTC) in their latest quarterly financials outline that the Government increasing the Excise duty on cigarettes in August 2018 and March 2019 lead to a price increase of legal cigarettes. As a result, the Ceylon Tobacco Company’s sales volume for the fourth quarter ended 31st December 2019 had reduced…
Sri Lanka is the twenty-fifth most polluted country in the world according to the IQAir AirVisual’s 2019 World Air Quality Report. However, the country has been tagged as having the best air quality in South Asia according to the report in the region with pollution regarded as “moderate.” The rest of the region is listed…
Commercial Bank of Ceylon PLC (Commercial Bank) rang the Opening Bell to commence trading at the Colombo Stock Exchange (CSE) today to celebrate its 100-year anniversary. The event was a part of a series of initiatives conducted by the bank to celebrate this significant milestone. Special market opening ceremonies are organized by the CSE as…
Land Valuations Indicator (LVI) for Colombo District compiled by the Central Bank of Sri Lanka (CBSL), reached 138.9 during the 2nd half of 2019, recording an increase of 10.4 per cent compared to the 2nd half of 2018. All three sub-indicators of LVI, namely Residential, Commercial and Industrial have contributed to this increase. Residential LVI…
A steady and a positive stock market performance will draw good quality investors, which is a key requirement for the development of a country, Commercial Bank Chairman Dharma Dheerasinghe said. “The stock exchange place allows businesses to access capital and provide opportunities for companies to enhance their visibility and public image. The country becomes visible…
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