Hemas’ Performance Momentum Continues in FY 25/26 with 26% Earnings Growth in Q1 Performance Review for the Three Months ended 30th June 2025 Overview The Group sustained its positive trajectory from the previous year, delivering a resilient performance for the quarter achieving a cumulative revenue of Rs. 28.5 billion. Operating profit and earnings grew by…
Reuters – The United States will impose a tariff of about 100% on semiconductor chips imported from countries not producing in America or planning to do so, President Donald Trump said. Trump told reporters in the Oval Office on Wednesday the new tariff rate would apply to “all chips and semiconductors coming into the United…
Government officials and export sector representatives unite to address 20% US tariff impact on Sri Lankan goods The Sri Lanka Export Development Board (EDB) held a successful discussion today (06th) regarding the 20% tariff recently imposed by the United States on Sri Lankan goods. High-level government officials and numerous export sector representatives gathered for this…
The Financial Intelligence Unit (FIU) of the Central Bank of Sri Lanka has imposed administrative penalties on two casinos and one state-owned bank for non-compliance with the Financial Transactions Reporting Act, No. 6 of 2006 (FTRA). The penalties, totalling Rs. 6.5 million, were issued between January and June 2025 under the powers vested in the…
Sri Lanka recorded a total revenue of Rs. 2,322 billion in the first six months of 2025, reflecting a notable improvement from Rs. 1,861 billion during the same period in 2024, according to the mid-year fiscal review released by the Ministry of Finance. The increase was driven by both tax and non-tax revenue. Tax collections…
Hayleys Mobility, the newest venture under Hayleys Fentons, has officially entered the electric and hybrid vehicle market through an exclusive distribution partnership with OMODA & JAECOO Automobile Co., Ltd, the premium NEV brand of Chery Automobile Co., Limited. The agreement grants Hayleys Mobility full franchise rights in Sri Lanka for OMODA & JAECOO. Chery has…
The barometer of business confidence free falls after a temporary stint at the summit July has been a month of both optimism and mounting uncertainty for Sri Lanka. On a positive note, the IMF approved its fourth review under the country’s 48 month Extended Fund Facility (EFF), unlocking a disbursement of US$ 350 million to…
Arkia, Israeli Airlines from September 2025 plans to resume service to Sri Lanka, last served until May 2024. Upon service resumption on 23SEP25, the airline’s Tel Aviv – Colombo route to be operated by Gullivair Airbus A330-200 aircraft. The airline schedules one weekly flight for the remainder of summer season. Schedule below focuses on the…
Dialog Axiata and H Connect International emerged as the big winners at the Grand Finale of the inaugural DEI Champion Awards 2025, organised by The Ceylon Chamber of Commerce, in partnership with the Strengthening Social Cohesion and Peace in Sri Lanka (SCOPE) programme, on 5th August at Cinnamon Life – City of Dreams. Dialog was…
SriLankan Airlines and the Government of Sri Lanka have announced the unsuccessful conclusion of recent restricted discussions with key bondholders regarding the restructuring of the airline’s defaulted US$175 million guaranteed bonds. Despite constructive engagement between 28 July and 1 August 2025, the parties failed to reach a consensus, citing significant differences between proposals put forward…
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