In terms of the provisions of the Financial Transactions Reporting Act, No. 6 of 2006 (FTRA), the Financial Intelligence Unit (FIU) of Sri Lanka entered into a Memorandum of Understanding (MOU) with the Department of Motor Traffic (DMT) on November 01, 2018 at the Central Bank of Sri Lanka to receive intelligence information related to…
Sampath Bank achieved Rs.14.2 billion in Profit Before Tax (PBT) within the first 3 quarters of 2018, 20.3% higher than the PBT of Rs.11.8 billion recorded in the corresponding period in the previous year. This is a significant achievement particularly given the challenging macroeconomic conditions that were seen throughout this period. Profit After Tax (PAT)…
Reuters – Foreign investors sold Asian equities heavily in October on concerns over slowing earnings, higher U.S. interest rates and trade tensions between the United States and China. Data from regional stock exchanges showed foreigners sold a net total of $14.54 billion in Taiwan, South Korea, India, Thailand, Philippines, Indonesia, and Vietnam equities in the…
Allianz Insurance Lanka Limited continues its remarkable performance post the amalgamation to record a gross written premium of LKR 13.6 billion with a YoY growth of 6% at the end of the 3rd quarter 2018. The Company’s continuous commitment to growth was further boosted with an impressive profit before tax of LKR 1.2 billion. Despite…
Strong gains from performance improvement initiatives in local operations and significant contribution from overseas marketing operations have generated noteworthy profit growth in 1H of 2018/19 for the Dipped Products Group, a global leader in hand protection. According to figures filed with the Colombo Stock Exchange, the Hayleys Group’s globally-ranked subsidiary achieved a profit before…
Reuters – The Sri Lankan rupee fell to a record low on Monday, as political uncertainty triggered by President Maithripala Sirisena’s decision to sack parliament weighed on sentiment, in line with bonds, market sources said. The currency hit 175.90 versus the dollar, surpassing its previous all-time peak of 175.65 hit on Nov. 1. Sirisena dissolved…
Singer (Sri Lanka) PLC announced today its results for the first half ended 30th September 2018. Despite tough business conditions, the results for the six months showed a commendable revenue growth of 14% to Rs. 28.6 billion compared to the same period in the previous year. In the period under review, the Group profit before…
A senior academic delegation led by the Vice President of Sichuan University Prof. Yan Shijing and the Director General of the newly established China Center for South Asian Studies (CCSAS) Prof. Sun Shihai visited Pathfinder Foundation (PF), to discuss ways and means of further strengthening links between the two institutions through partnership and collaboration. CCSAS…
LVL Energy Fund PLC with an operational footprint covering Sri Lanka, Bangladesh and Nepal, recorded a strong financial performance in the first half of the current financial year, which is reflected in the company’s provisional financial results for the 6-month period ended 30th September 2018. In a remarkable achievement, its 6-month profit of LKR 461…
The Sri Lanka – France Business Council of the Ceylon Chamber of Commerce organized an evening of cocktails and networking on November 07, 2018 to welcome the new Ambassador of France His Excellency Eric Lavertu to Sri Lanka. Ambassador Lavertu presented his credentials to the President of Sri Lanka last week. “On behalf of…
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