Efforts Underway to Expand Cooperative and Sathosa Networks for Subsidized Essential Goods Focus on Reducing Prices of Bakery Products Officials Directed to Investigate Misuse of Loans by Rice Mill Owners The government is focusing on providing packs of essential food items to low-income earners in preparation for the upcoming Sinhala and Tamil New Year. In…
Profit After Tax of LKR 17 Bn. up 46.5% YoY Annual Tax cost amount to LKR 16 Bn Net Stage 3 Ratio of 1.6% Total Capital Adequacy Ratio of 22.66 %, Return on Equity 24.22% Nations Trust Bank PLC reported strong financial results for the twelve months ending 31st December 2024, achieving a Profit After…
The Hambantota International Port (HIP) began maintenance dredging this month in order to restore the harbour’s original depth. The operation undertaken by HIP to ensure the continued safe navigation of vessels began early February and is expected to be completed in approximately two months. This project will return the harbor to its declared specifications by…
Unilever Sri Lanka inaugurated a new Foods Factory at the Lindal Industrial Processing Zone in Sapugaskanda, graced by the Honourable Sunil Handunneththi, Minister of Industry and Entrepreneurship Development. The construction commenced during the economic crisis and reinforces Unilever Sri Lanka’s strategy to strengthen local manufacturing. This not only removes the pressure on forex but also…
Majority of the population feels economic conditions ‘getting better’ The government’s approval rating rose sharply after the election, from 24% in July 2024 to 62% in February 2025, when the latest round of the Gallup style ‘Mood of the Nation’ poll was conducted by Verité Research. For the first time since the economic crisis, a…
In a landmark move for Sri Lanka’s engineering and construction sector, George Steuart Engineering has signed an agreement with NEEDLU ConsEase ERP to streamline and enhance its entire operational framework. This strategic partnership marks a significant step towards digital transformation, reinforcing the company’s commitment to innovation and efficiency. Directors of George Steuart Engineering Mr. Madawa…
The Joint Apparel Association Forum (JAAF) welcomes the new Government’s maiden budget, recognizing its focus on export-driven growth, investment facilitation, and policy consistency. The budget’s commitment to economic stabilization and a competitive business environment marks a positive step forward for Sri Lanka’s textile and apparel sector. The expansion of Sri Lanka’s Free Trade Agreements (FTAs)…
Group Net Operating Income up by 30% to LKR 35 Bn Impairment charge for loans and advances reduced by 68% to LKR 3.96 Bn. Group Profit After Tax of LKR 9.9 Bn Group Total Capital Adequacy Ratio – 16.958% Group Total Assets up by 10% to LKR 709 Bn In a demanding banking landscape, DFCC…
The overall rate of inflation as measured by the NCPI on a Year-over-Year basis was -4.0% in January 2025 and inflation calculated for the December 2024 was -2.0%. On a monthly basis, the Year-on-Year inflation of the food group decreased to -2.5% in January 2025 from -1.0% in December 2024 and the Year-on-Year inflation of…
Reuters – Dairy giant Fonterra said on Wednesday it would engage with potential buyers of its global consumer business and integrated businesses over the coming weeks, and also named key management team members in preparation for an initial public offering. Auckland, New Zealand-based Fonterra in November last year outlined its plans to explore potential divestment options…
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