The downward spiral in biz sentiment shows no sign of letting up as fears mount Trade within South Asia can increase by nearly threefold from US$ 23 billion to 67 billion dollars provided that trade barriers are overcome, according to a recent World Bank report titled ‘A Glass Half Full: The Promise of Regional Trade…
Hemas Hospitals announced the divestiture of Hemas Southern hospital, taking a significant step to intensify their growth strategy and new business lines. An experienced healthcare service provider Asiri Hospitals has acquired the Hemas Southern Hospital for a value of Rs.450 million. “We identified Asiri Group of Hospitals as the best fit due to their capability…
Sri Lanka’s former Finance and Mass Media Minister of the unity government recently issuing a statement said that “Sri Lanka’s economy has been placed in great peril as a result of Sri Lankan President Maithripala Sirisena’s unconstitutional political maneuver last month sacking Prime Minister Ranil Wickremesinghe”. In the Member of Parliament Mangala Samaraweera had further…
Reuters – Sri Lanka’s deposed Prime Minister Ranil Wickremesinghe said the United States and Japan had frozen more than a billion dollars of development aid after his abrupt dismissal raised doubts about the future of democracy in the island. The move to hold back project financing, along with the EU’s warning it could withdraw duty-free…
Reuters – ** The Sri Lankan rupee ended slightly weaker on Friday due to dollar demand for outflows in government securities and stock-related transactions, sources said. Stocks slipped from its nearly two-month closing high hit in the previous session, as the political turmoil continues despite newly appointed Prime Minister Mahinda Rajapaksa’s attempts to resolve the…
Reuters – The European Union will consider stripping Sri Lanka of its duty-free access if it backs off commitments on rights, the EU ambassador said, amid worries stoked by the president’s replacing of the elected premier by a wartime nationalist. The European Union is worried the return of Mahinda Rajapaksa, as prime minister, could derail…
The Sri Lankan Rupee has appreciated after continuous fall in the recent past. The selling rate of the US Dollar has reduced to 175.82 from yesterday’s 177.32 showing a significant climb in the currency. The Sri Lankan rupee traded at a record low on Thursday, but closed firmer due to central bank dollar sales. The…
22% Growth in Net Interest Income Improvement in interest margin Year on Year growth of 17% in total assets Loan portfolio growth of 20% year on year Recognised as one of the Top 10 Most Admired Companies in Sri Lanka in 2018 Profitability The DFCC Group, consists of commercial banking, investment banking, wealth…
The Bank closed the nine months ending 30th September 2018 with a post-tax profit of Rs.2, 918Mn with standing multiple challenges as witnessed across the industry with increasing non-performing loans, tightening of liquidity and moderating credit growth which particularly hindered the performance for the quarter. The Bank realigned its resources in a timely manner during…
Just less than a week after appointing new Prime Minister, in a public statement government said that the President Maithripala Sirisena, and the Prime Minister and Minister of Finance and Economic Affairs Mahinda Rajapaksa have raised concerns regarding the serious setback in the economy as reflected in the persistently low growth rates during the last…
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