President Maithripala Sirisena emphasized the need of promptly providing relief to the depositors of the ETI Finance Limited. The President emphasized this when the National Economic Council met at the President’s Office Tuesday(26). The special attention of the Economic Council was drawn regarding the selling of the company’s assets and after considering that transaction the…
Reuters – Sri Lanka has asked the International Monetary Fund (IMF) to extend a $1.5 billion loan by another year and relax its tight spending targets ahead of key elections, two government sources close to the negotiations told Reuters on Tuesday. The loan is crucial for Sri Lanka, which plans to sell up to $3…
Leisure Industry Veteran and successful hotelier Rohan Karr is leaving the Cinnamon brand of Sri Lanka’s John Keells group he built and joining business mogul and billionaire Dhammika Perera to lead the leisure sector, several media reports outlined recently. According to reports Rohan Karr’s exit was announced yesterday and he will be joining the Board…
Reuters – ** Sri Lankan shares and the rupee closed weaker on Tuesday, with investors waiting for directions from next week’s budget and the outcome of talks between government authorities and the International Monetary Fund (IMF), market sources said. ** Sri Lanka has asked the IMF to extend a $1.5 billion loan by another year…
The Buffer Free Data Network; Bharti Airtel Lanka (“Airtel”), is looking to ignite the cricketing landscape with an island wide hunt for Sri Lanka’s fastest bowler. ‘Airtel’s Fastest’ will commence on the 23rd of Feb and will be holding fast bowling auditions across the country; looking to finally unearth Sri Lanka’s fastest Amateur, School Boy…
Sri Lanka’s registration of vehicles in January 2019 in most categories had a rebound by witnessing a sharp decline in December 2018. Accordingly Motor car registrations alone had increased by 17.9% recording 3,147 units in January 2019 against 2,669 units in December 2018. However total units for the last 12 months had decreased from 5,318…
Sustaining its unblemished track record in performance, the LOLC Group has crossed the trillion mark, with total assets reaching Rs. 1.008 trillion as at December 2018. This significant achievement is on account of the Group’s consistently resilient financial sector – both local and international – coupled with its strategic investments in non-financial sectors – Leisure,…
PBT Rs 26.5 Bn Operating Profit Rs 33 Bn Tax charge Rs 14.2 Bn Cost to Income ratio improves by 400 bps HNB Group recorded a Profit Before Tax of Rs 26.5 Bn and a Profit After Tax of Rs 19.1 Bn, posting a YoY growth of 14.6% and 14.4% respectively for the…
Establishing itself in 2003, Resus Energy PLC a forerunner in the renewable energy industry, has since been taking giant leaps with its investments and development in many projects across the island. While increasingly supporting the national effort to develop renewable energy resources in Sri Lanka, Resus Energy PLC is currently investing a staggering Rs. 1.3 Bn in a couple of hydropower…
Investment Banker turned Attorney and Double Qualified Accountant Nishan Sumanadeera pioneered first local investment bank to venture into AI products Mulls further investment to release more AI products to various industries including Banking, Finance, Insurance, Telecom, Tourism, Economic Analysis, Education Industry and Healthcare Sectors Willing to attract Seed Investors from Global AI (Artificial intelligence) based…
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