6-month gross income grows by 13.31% to Rs 73.587 billion Pays Rs 7.282 billion as taxes for 1H 2019; effective tax rate of over 52% Q2 earnings per share increase by 10.1% over Q1 The Commercial Bank Group has reported operating profit before impairment charges and taxes of Rs 19.476 billion for the first…
Obtaining the ownership of the domain name www.ceylontea.com is an important milestone that the Sri Lanka Tea Board achieved recently prior to this domain name www.ceylontea.com was fully owned by the multinational giant Lotte Group of Companies from South Korea. The financial value of an important domain such as www.ceylontea.com is immeasurable in today’s business environment and also for Sri…
· Pre-tax profitability boosted by sound net interest income a growth of 27% · Contributes LKR 2.8 Bn in taxes, driving post tax profitability to LKR 2.2 Bn – down by 15% · Loans and advances to customers grew by 5% to LKR 372 Bn, whilst total assets crossed LKR 490 Bn National Development Bank…
Hatton National Bank PLC (HNB) continued to demonstrate resilience, reporting a profit before tax of Rs 8.3 Bn and a profit after tax (PAT) of Rs 4.8 Bn for the first half of 2019. The group PAT for the period was Rs 5.1 Bn. The Bank’s robust business model coupled with prudent asset and…
The proposal made by the Minister of Agriculture, Rural Economic Affairs, Irrigation and Fisheries & Aquatic Resources Development, to obtain covering approval to procure 30,000 Urea (Granular) at US$ 315.80 per MT from M/s Agrifert Liven International Pte. Ltd., and 20,000 MTs of Muriate of Potash at US$ 343.10 per MT from M/s Swiss Singapore…
It has been identified that there exists the need for the import of 80,000 MT of maize for animal food production as a result of the production in 2019 being insufficient. As such, the proposal made by the Minister of Agriculture, Rural Economic Affairs, Irrigation and Fisheries & Aquatic Resources Development firstly, for the National…
As a presidential election is to be held towards the end of the year 2019, the proposal made by the Minister of Finance to prepare a Vote on Account incorporating the expenditure of the Government needed by the Government for the first 04 months of the year 2020 and to present it in Parliament for…
The proposal made by the Minister of Finance to present the Finance (Draft) Bill in Parliament to amend the Finance Act, No.35 of 2018 to give effect to the amendments including the revenue proposals in the Budget for the amendment of the definition of ‘Specified Motor Vehicle’ for applicability of the luxury tax on motor…
(Reuters) – Sri Lankan shares closed marginally higher on Tuesday, easing from early gains of 1.2%, after the main opposition party named a hardline former defence chief as presidential candidate, seeking to capitalise on public clamour for a decisive leader. ** The rupee ended slightly weaker on importer greenback demand. ** The benchmark stock index…
Harry Jayawardena, Chairman of Browns Beach hotel PLC Urges policy makers to ensure a healthy balance of payments scenario through careful fiscal measurement, fiscal planning and policy making, and the management of interest rates and Rupee devaluation. “The year ahead is likely to be an extremely challenging one for the industry, we will continue apace…
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