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A Guide to Financial Services in Sri Lanka

The Central Bank released its new publication “A Guide to Financial Services in Sri Lanka” specifically compiled for the awareness of the general public on the financial institutions in Sri Lanka. This publication was authored by Mr. P Samarasiri, Deputy Governor, in honor and gratitude to Mr. A S Jayawardena, the Governor November 1995 –…

(0)Comments | May 19, 2017 1:46 pm

Ambulance service from land and air soon

Benz Company and Airbus Company have agreed to invest on an island wide free ambulance service to be operated by land and air. Minister of Health, Nutrition and indigenous service Dr Rajitha Senarathna who is on a visit to Germany met with the two companies and German Government Economic and Finance grant bank officers on…

(0)Comments | May 19, 2017 11:16 am

Sri Lankan shares slip from over 1-yr high on profit-taking

Reuters – Sri Lankan shares ended marginally down on Thursday, slipping from their highest level in more than a year hit in the previous session, as investors booked profits in blue chips including John Keells Holdings Plc and Dialog Axiata Plc. The Colombo stock index ended 0.30 percent weaker at 6,697.90, slipping from its highest…

(0)Comments | May 19, 2017 11:13 am

BIMSTEC meeting to be held in Sri Lanka this year

The third ministerial meeting of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) will be held this year in Sri Lanka. The cabinet of ministers approved a proposal made by Minister of Social Empowerment and welfare S.B.Dissanayake to hold the third meeting in Sri Lanka . The first ministerial meeting was held in Bangaladesh…

(0)Comments | May 19, 2017 11:11 am

Hemas Group delivers earnings growth of 31.6% in FY 2016/17

Hemas Holdings PLC (HHL) and its subsidiaries achieved consolidated revenues of Rs.43.4Bn, year-on-year (YoY) growth of 14.3% for the twelve months ended March 31, 2017. During this period, operating profit reached Rs.4.8Bn and PAT Rs.3.8Bn, growth of 21.3% and 28.3% respectively. Overall, the Group has grown strongly over last year; however, a multitude of factors…

(0)Comments | May 18, 2017 3:46 pm

GM to stop selling cars in India but not pulling out

Reuters – General Motors Co will stop selling cars in India from the end of this year, drawing a line under two decades of battling in one of the world’s most competitive markets where it has less than a one percent share of passenger car sales. The decision was announced as part of a series…

(0)Comments | May 18, 2017 2:09 pm

Dipped Products Posts Rs.24Bn Turnover and Rs. 1Bn PBT

Dipped Products Group posted Rs. 24 billion Turnover during the financial year 2016-17, 11 percent increase from a year ago. Group Profit Before Tax (PBT) for the year was Rs. 1.06 billion, 53 percent increase from Rs. 691 million recorded for the previous year.   The Hand Protection segment contributed Rs. 14 billion to revenue,…

(0)Comments | May 18, 2017 11:32 am

Teejay posts revenue growth of 24% in volatile 2016-17

Achieves net profit of Rs 2 billion despite huge increases in raw material costs   Teejay Lanka PLC (formerly Textured Jersey), the Sri Lanka headquartered world-class knit fabric solutions provider, has reported revenue of Rs 22.2 billion at Group level and net profit of Rs 2.0 billion for the 12 months ending 31st March 2017,…

(0)Comments | May 18, 2017 10:44 am

Haycarb records turnover of Rs. 13.5 billion and profit before tax of Rs. 1.19 billion for 2016/17

The Sri Lankan multinational Haycarb PLC reported revenue of Rs. 13.5 billion, profit before tax of Rs. 1.19 billion and profit after tax of Rs. 939 million for financial year 2016/17. The earnings per share of equity holders of the company increased to Rs. 27.07 for the year.   The Chairman of Haycarb PLC and…

(0)Comments | May 18, 2017 10:34 am

Sri Lankan shares extend gains on foreign inflows

Reuters – Sri Lankan shares ended at their highest level in over a year as foreign investors continued to buy blue chips after an annual trade concession worth $300 million from the European Union (EU) added fuel to a rally that started towards the end of March. Index heavyweight John Keells Holdings Plc ended almost…

(0)Comments | May 18, 2017 10:24 am