Performance review for the Six Months ended 30th September 2024 Hemas Holdings PLC reported a cumulative revenue of Rs. 54.4 billion, with operating profits of Rs. 5.0 billion and earnings of Rs. 2.5 billion. The decrease in revenue compared to same period last year was a result of cautious consumer spending accompanied by several strategic…
The Tech Portal – Nvidia has conquered a new milestone – the chipmaking giant surpassed tech behemoth Apple in market cap on Tuesday. Nvidia’s market cap reached a total of $3.43 trillion after a 2.9% increase in its share price, blowing past Apple’s market cap of $3.4 trillion. The signs had been there, and the…
By Dr Bilesha Weeraratne The recent presidential election in Sri Lanka marked a series of “firsts,” setting it apart from previous elections. It saw a record-low number of 350,516 valid voters per candidate, implementation of the Regulation of Election Expenditure Act of 2023, and a second count of votes. Notably, there was also greater engagement from…
How an Effective Procurement Policy Overhaul Could Rewrite the Nation’s Future and Transform the Nation’s Public and Private Sectors By Jithendra Antonio In a country where corruption has long infiltrated both public and private sectors, Sri Lanka approaches a critical juncture, where decisions today will echo for generations. Embedding a robust procurement system is more…
Inovartic Investment Lanka Pvt Limited, a joint venture between Sri Lanka’s Apex Asia Holdings and UAE’s Inovartic Investment LLC, announced the launch of the Abu Dhabi University Graphene Centre – an advanced facility dedicated to pioneering research in graphene technology. This centre was inaugurated at Abu Dhabi University to drive scientific progress and international collaborations…
Salesforce, the #1 CRM, powered by AI technology and capabilities, reinforced its commitment to digitally transforming businesses in Sri Lanka, aligning with the country’s 2030 vision for a digital Sri Lanka. Leveraging Salesforce’s cutting-edge innovation around Artificial Intelligence (AI) and automation, Salesforce will revolutionise customer experiences for businesses across industries in Sri Lanka, unlocking significant…
John Keells Holdings (JKH) reported an EBITDA of Rs. 8.09 billion for the second quarter of the 2024/25 financial year, marking a 4% decline from Rs. 8.42 billion in the same period last year. This drop was primarily due to pre-opening costs related to the recently launched ‘Cinnamon Life’ hotel. However, excluding these costs, EBITDA…
Sumsub, a leading full-cycle verification platform, has released its Global Fraud Index, the first-ever comprehensive analysis of digital fraud risks across 103 countries. The Index aims to shed light on the root causes of fraud, offering governments, regulatory bodies, and businesses actionable insights to strengthen their defenses against this growing threat. In a concerning revelation,…
by Dhananath Fernando A fresh controversy has erupted following reports that Sri Lanka’s Central Bank (CBSL) injected nearly 100 billion rupees into the banking system by October 25. Given that money printing was the major cause of the country’s financial crisis, this news has sparked considerable attention. CBSL has defended its actions, arguing that these…
The Bank of Ceylon (BOC), Sri Lanka’s leading state-owned financial institution, is pleased to announce the appointment of Mr. Kavinda de Zoysa as its new Chairman. Mr. de Zoysa, a career banker with over 30 years of industry experience and 25 years in management, brings proven leadership capabilities and strategic insight to BOC. His deep…
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