The Air Transport Bill which will give effect to the Montreal Conventions and deals with conforming to international standards and rules on international carriage of passengers, baggage and cargo was approved by the Cabinet. The Montreal Convention which has been ratified by 112 countries protects the interests of passengers by introducing a modern two-tier liability…
The two-day Technical Group Meeting of the G- 24 countries will be inaugurated by the Minister of Finance and Mass Media Mangala Samaraweera at 9.00 am on February 27, at the BMICH in Colombo. Over 45 delegates from the member countries will participate at this two-day technical committee meeting. The Group of 24 (G24), a chapter…
Continues to invest in Sri Lanka with new products and capacity expansion Revenue of Rs. 37.6 billion for the full year 2017 (up 3.1%) Revenue of Rs. 10 billion in Q4 (up 15.6%) Net profit of Rs. 3.6 billion for the full year and Rs. 1.2 billion for the quarter Severe drought, floods,…
Sri Lanka has failed to show significant improvement in the Corruption Perceptions Index (CPI) 2017, released by Transparency International, the global movement against corruption. The index ranks 180 countries and territories by their perceived levels of public sector corruption. Sri Lanka has moved up 4 places from 95th to 91st, far more importantly its CPI…
Inflation, as measured by the change in the National Consumer Price Index (NCPI) (2013=100), which is compiled by the Department of Census and Statistics (DCS), decreased to 5.4 per cent in January 2018 from 7.3 per cent in December 2017, on year-on-year basis. This decline is due to the high base prevailed in January 2017…
Retains top spot in life insurance for 14th successive year with premium income of Rs 15.7 bn. Assets cross Rs 100 billion to Rs 106 billion Ceylinco Life has posted net profit of Rs 6 billion for the year ending 31st December 2017 while reaffirming its market leadership in Sri Lanka’s life insurance industry…
Reuters – Sri Lankan shares ended higher for a fifth straight session on Wednesday led by bluechips on hopes of political stability after two key parties decided to remain in the ruling coalition, allaying fears of a government collapse. The Colombo stock index ended 0.32 percent firmer at 6,598.73, its highest close since Nov. 6,…
Bank PAT Rs 16.5 Bn Lowest recorded cost to income ratio of 4% Group Assets cross Rs 1 Trillion Deposits surpass Rs 700 Bn Strong capital position with a CAR of 17% HNB successfully weathered the challenges that arose in 2017 while leveraging upon new growth opportunities to post a profit after tax (PAT) of…
~ In conversation with Sunil Sharma, Managing Director – Sales (India & SAARC) of Sophos Technologies Pvt. Ltd. Q: Sophos is one of the key leaders in the cyber security space. Can you briefly describe what the company is about? A: Sophos Technologies was established in 1985 in the UK. For the last 32 years,…
DFCC Bank continued to demonstrate positive momentum across businesses in 2017 as a rapidly growing commercial bank completing its second year after the amalgamation. Despite a backdrop of higher taxes, volatile interest rates, tight margins and intensifying competition, the Bank closed the financial year ended 31st December 2017 with a profit before tax of…
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